In this episode, we hear from Dare Okodjou, founder of Onafriq, Africa’s largest digital payments network, formerly MFS Africa. 500 million wallets across 42 countries, over $300m raised in funding. This episode is drenched in depth of experience. Perfect for founders whether early or later in their journey.
Dare shares his entrepreneurial journey from working at MTN Group, leading mobile money innovations, to founding Onafriq in 2009 with the vision of making cross-border payments seamless.
The conversation delves into the challenges faced in the early days, including navigating work permits and bond loan issues, assembling a team, and raising initial funds. Dare discusses the strategic moves behind the rebranding to Onafriq, key partnerships, the role of culture and people in scaling operations across Africa, and the significance of maintaining focus. He also talks about future opportunities in the mobile money payment space, the role of stable coins, and his personal strategies for managing stress and maintaining work-life balance.
00:00 Introduction to Startup Challenges
00:40 Meet Dare Okodjou: FinTech Pioneer
01:24 The Birth of Onafriq
01:42 The Meaning Behind the Name
04:16 Early Challenges and Decisions
09:35 Building the Team and Raising Capital
15:34 Strategic Partnerships and Growth
20:46 Defining Moments and Lessons Learned
26:39 Scaling Across Diverse Markets
27:47 The Importance of Pan-African Coverage
29:52 Future of Mobile Money Payments
37:05 Acquisitions and Expansion Strategy
42:59 Managing a Diverse Team
46:25 Reflections and Advice for Entrepreneurs
🎧 Don’t miss this important conversation share with any early stage founder or builder
Youtube: https://youtu.be/m3fdWDT7Nxk
👉 Tell us what you think in the comments, we’d love to hear from you!
#DareOkoudjou #Onafriq #FinTechAfrica #MobileMoneyInnovation #PanAfricanPayments #StartupScaling #AfricanEntrepreneurs #DigitalFinanceAfrica #FromMTNtoOnafriq #FinTechLeadership
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