#65: Wasoko (Sokowatch) - How the B2B retail platform is providing services and improving the supply chain for informal retailers across Kenya and Africa

Overview: Today, we’re going to talk about Wasoko (Sokowatch) We’ll explore the story across the following areas:

Africa’s and Kenya’s informal retail context

Wasoko's early history

Wasoko's Product & monetization strategy

Competitive positioning & potential exit options

Overall outlook.

This episode was recorded on June 11, 2023

Companies discussed: Wasoko (Sokowatch), Twiga Foods, TradeDepot, OmniBiz, Alerzo, mPharma, Nestle, Unilever, Multipro, Marketforce, Udaan & Flipkart

Business concepts discussed: Informal retail penetration, Agency banking adoption, B2B Operating systems, Informal markets, & last-mile distribution

Conversation highlights:

(00:40) - Sokowatch background and why we’re talking about it

(08:35) - African informal retail context

(16:11) - Founder background and Founding story

(29:55) - Fundraising and early growth

(36:56) - Geographic expansion, growth and partnerships

(45;12) - Team strategy

(54:00) - Product strategy and monetization

(1:10:00) - Competition and options for exit

(1:23:13) - Bankole’s overall thoughts and outlook

(1:33:05) - Olumide’s overall thoughts and outlook

(1:43:30) - Recommendations and small wins

Olumide’s recommendations & small wins:

Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at [email protected]. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at [email protected]

Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)

Recommendation: The Slight Edge. Amazing Personal Development book about a mental framework to apply daily actions to get what you want in life. I have read it about 6 times at this point.

Recommendation: Temu.com. Started using it for shopping. It has some cool gamification ideas to nudge ecommerce purchases

Small win: Hosted house party with friends. It was great to see everyone together

Bankole’s recommendations & small wins:

Recommendation: Artificial Intelligence, a guide for Thinking Humans by Melanie Mitchell & Would You Sell Your Extra Kidney - Dylan Walsh

Small win: won my physical activity mini-league

Other content: FT fastest growing companies 2022 & Modularity Theory - Christensen Institute

Listeners: We’d love to hear from you. Email [email protected] with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at [email protected]

Investors: It would be great to link up with you. Contact us at [email protected]

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