Afrobility: Africa Tech and Business

#9: OPay (Opera Pay) - From Web Browser & Fintech to blitzscaling and building Africa's Super App

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Overview: Today we’re going to talk about OPay - The African Payments startup, we’ll discuss its early history, initial focus on African payments, blitzscale attempt to become Africa’s Super App & OPay's future outlook. This episode was recorded on August 9, 2020


Companies discussed: Opera Group, OPay (Opera Pay), OCar, OFood, ORide, OExpress, OBus, OTrike, Beijing Kunlun, Meituan Dianping, Tencent (WeChat), Go-Jek, Grab, Jumia (Jumia Pay), AliPay & GTBank.

 

Business concepts discussed: Blitzscaling, Super App strategy, Equity fundraising, Venture Capital (VC) / Entrepreneur risk dynamics, China Tech, Fintech, Betting Technology & Chinese investments in Africa tech.


Conversation highlights:

  • (00:40) - Why the OPay story is important
  • (02:39) - Background on Opera and market share in Africa
  • (05:24) - Background on Zhou Yahui and Beijing Kunlun Opera acquisition
  • (08:25) - OPay fundraising
  • (12:40) - OPay Blitzscaling approach, trade offs and other examples
  • (23:15) - Super App strategy discussion: Great and not-yet great examples
  • (32:30) - OPay in Nigeria and multiple business lines
  • (37:22) - OPay refocusing on Fintech and reacting to COVID
  • (43:30) - Bankole’s overall thoughts and outlook
  • (49:00) - Olumide’s overall thoughts and outlook
  • (54:30) - Bankole’s recommendations and small wins
  • (56:07) - Olumide’s recommendations and small wins

    • Olumide’s recommendations & small wins:

    • Recommendation: How Innovation Works (by Matt Ridley)
    • Small win: Good to be back in the gym after 5 months
    • Other content mentioned: Blitzfail: How Not to Go off the Rails (by David Sacks)

      • Bankole’s recommendations & small wins:

      • Recommendation: The Worst Epidemic (from Waking Up Podcast by Sam Harris)
      • Small win: Eloquent Chrome extension
      • Other content mentioned: GTBank Habari - customer review

        • We’d love to hear from you. If you have feedback, topics you’d like to hear, or just want to say hello, please email [email protected]


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        Afrobility: Africa Tech and BusinessBy Olumide Ogunsanwo and Bankole Makanju
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