#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 olumide@afrobility.com. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at olumide@afrobility.com 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 info@afrobility.com with feedback! Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com Investors: It would be great to link up with you. Contact us at info@afrobility.com Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com

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#65: Wasoko (Sokowatch) - How the B2B retail platform is providing services and improving the supply chain for informal retailers across Kenya and Africa is an episode from Afrobility: Africa Tech & Business by Olumide Ogunsanwo and Bankole Makanju.

This episode is 01:55:55 long.

This episode was published on Jun 16, 2023.

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