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The Flip

Justin Norman

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The Flip

The Flip

Justin Norman

2
Followers
0
Plays
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About Us

The Flip is an editorial-style podcast exploring contextually relevant insights from entrepreneurs and investors changing the status quo in Africa. The name The Flip comes from the opportunity to flip the script – question some of the pervasive narratives on entrepreneurship, challenge the ubiquity of Silicon Valley thought leadership, and champion the entrepreneurs building a future inspired by Africa. Produced and hosted by Johannesburg-based entrepreneur and American expat Justin Norman. Sayo Folawiyo is the executive producer and b-mic.

Latest Episodes

Smart People Should Build Things - On Recruiting and the Global Competition for Top Talent

The very nature of a high-growth startup means that the company is always growing and hiring at a rapid rate. And for African startups, in particular, the talent question is even more acute, given the general challenges of sourcing for select roles, as well as the difficulty in competing for talent with other startups, multinationals, and companies elsewhere in the world. In this episode, we unpack the talent and recruiting situation for venture-backed startups and growth-stage companies - how do we source for newer types of roles, like product and growth? Do we hire for aptitude and train up? Do we go to where there is more talent? How does remote work - particularly during COVID-19 - play a role here?2:50 - We discuss the current recruiting landscape with Toun Tunde-Anjous, Founder of The People Practice.4:38 - Charles Sekwalor, CEO of Movemeback, shares his views on the talent question, and the opportunities with startups and growth-stage companies on the continent.8:17 - We explore startup recruitment strategy with Ijeoma Oyeyinka, Helium Health's Head of HR.10:26 - Many startups, including Helium Health, use outside recruiters, as well. Toun's The People Practice is one such firm.11:20 - We har from Ijeoma & Mansi Babyloni, Flutterwave's Global Head of People Strategy on the hiring competition, and the pitches they make to mission-driven talent.15:12 - Mansi & Toun on compensation and their experiences with African startups offering equity packages.17:59 - On remote working dynamics and the opportunity to tap into a wider talent pool, particularly due to COVID-19.20:46 - A discussion on training & development of talent, and in particular less experienced talent, on the continent.24:23 - We hear from Aaron Fu, on the Venture for Africa fellowship program, and their endeavor to de-risk an exploration into the African tech and startup ecosystem.28:13 - As always, a reflective conversation between Justin Norman and Sayo Folawiyo on this episode's topic.

31 minOCT 1
Comments
Smart People Should Build Things - On Recruiting and the Global Competition for Top Talent

Much Ado About the Media

In this episode, we explore and unpack the relationship between the tech ecosystem and the media. We'll seek answers to questions such as - what roles do media publications play in the ecosystem? How does this differ between international and local publications? What are the key considerations for the media in doing this work, particularly from a talent and business model perspective? What about companies creating their own content - what is their motivation and what can be learned? And, why is there seemingly a contentious relationship between African tech and the media?2:27 - We talk public relations utility and strategy, with Wimbart's Jessica Hope.6:47 - What role does international tech media play in the ecosystem? We hear from TechCrunch contributing writer Jake Bright.12:05 - A discussion with Tomiwa Aladekomo, of Big Cabal Media, the parent company to TechCabal, on the publications' objectives and challenges.17:03 - We explore how one publication, Stears Business, is tacklin...

44 minSEP 24
Comments
Much Ado About the Media

Connecting the Dots - Japanese Corporates and African Tech

This season we've talked about the relationship between African tech and other emerging markets across the Global South, as well as with China. In this episode, we talk about the ecosystem's relationship Japan - and in particular, the interest Japanese investors and corporates have in innovations from the continent.1:33 - Satoshi Shinada and Rio Yamawaki on the macro situation in Japan, and why Japanese investors are interested in African tech. Satoshi and Rio are GPs at Kepple Africa Ventures, one of the most active VCs on the continent.5:58 - The primary reason why Japanese corporates are interested in investing on the continent is to form strategic partnerships and bring African innovation back with them.9:43 - We explore a case study - the investment in Kenyan startup PayGo Energy by Saisan, a Japanese multinational gas company. We hear from PayGo's Co-founder and CEO Nick Quintong.14:48 - A reflective conversation between Sayo Folawiyo and Justin Norman, on the value of Kepple,...

23 minSEP 17
Comments
Connecting the Dots - Japanese Corporates and African Tech

Telcos, PalmPay, and the Future of Mobile Financial Services

In this episode, we explore the evolution of mobile financial services and the opportunity to deepen financial inclusion in African markets. This opportunity exists for mobile network operators, as well fintechs like PalmPay, backed by hardware manufacturer Transsion, whose smartphone brands - Tecno, Itel, and Infinix - account for over 50% of smartphone devices on the continent.1:55 - We explore the evolution from USSD-led Mobile Money 1.0 to smartphone-led Mobile Money 2.0, with Hover's Wiza Jalakasi.5:11 - Chris Williamson, the Head of M-Pesa at Vodacom Group, describes the future of M-Pesa and mobile financial services, and the role M-Pesa wishes to play to broaden the use cases and lay the rails for others in the ecosystem to build on top of.10:27 - We also hear from Ramatoulaye Adama Diallo, the CEO of Orange Money Senegal, on Orange's approach to increasing the utilization of mobile financial services, and their role in the development of the tech ecosystem.14:24 - While telc...

30 minSEP 10
Comments
Telcos, PalmPay, and the Future of Mobile Financial Services

Building for Purpose - China-Africa Tech

This week, we explore a hypothesis - that the lessons and models from Chinese tech companies have merit in African markets, given certain similarities between China’s development and the current conditions on the continent.2:06 - DFS Lab's Stephen Deng on the experience of Chinese entrepreneurs and investors, and the lessons from leapfrogs in China that may have merit in Africa.5:37 - We hear from Laura Li, VP of Investments of Future Hub, an early-stage investor and accelerator backed by Transsion, the number one cell phone manufacturer on the continenet, and parent company to Tecno, Itel and Infinix.7:43 - A discussion with Vincent Li, the CEO of Future Hub, and Laura on the opportunities they see on the continent, in ecommerce, logistics, social media, and more.14:50 - Another Transsion-backed company, PalmPay, is also leveraging Transsion's distribution and insights from China to grow in Nigeria and beyond. We hear from Sofia Zab, PalmPay's Global Head of Commercial & Marketing...

31 minSEP 3
Comments
Building for Purpose - China-Africa Tech

A Fintech Exit - Inside the MFS Africa Acquisition of Beyonic

Last episode, we went on a hypothetical startup journey from idea to exit. In this episode, we go on a real one.In June of 2020, MFS Africa announced the acquisition of Beyonic. Together, the combined company of 95 employees now enables mobile money interoperability between markets and mobile network operators, and offers a suite of tools for SMEs, in 30-plus African markets. We go inside the acquisition - how it came together, why it makes sense, and what it means - both for the two companies and their stakeholders and for the ecosystem as a whole.2:27 - Introducing some of the main players in the deal - Dare Okoudjou, the Founder & CEO of MFS Africa, Luke Kyohere, Founder of Beyonic, Carina Rumberger, CEO of Beyonic and Rachel Balsham, Deputy CEO of MFS Africa.3:43 - We go back to 2009, when Dare left MTN to start MFS Africa. What was it like running the business in those early days building the foundation and infrastructure for mobile money usage across the continent?7:55 - Luke ...

38 minAUG 27
Comments
A Fintech Exit - Inside the MFS Africa Acquisition of Beyonic

From Idea to Exit - A Startup Fundraising Journey

This episode, we go on a hypothetical startup fundraising journey, from idea to exit.2:04 - At the earliest stage, angel and venture investing is quite subjective, says Zachariah George, angel investor and Managing Director of LaunchAfrica.3:46 - Because of the subjectivity, metrics and valuations don't matter as much at this stage. We hear from Chidinma Iwueke, Partner at pre-seed fund Microtraction, on their standard deal terms.4:56 - A discussion with Andreata Muforo on how TLcom Capital approaches seed and Series A stage valuations.8:56 - We hear from Cikü Mugambi of the IFC's Disruptive Technologies and Venture Capital team, how they leverage comparables of other emerging market startups in their portfolio to value prospective investments in Africa.11:12 - Andreata and Cikü share their views on the exit paths for their portfolio companies.13:17 - After venture capital comes private equity, and a discussion with Helios Investment Partners' Fope Adelowo.19:37 - We hear from Vic...

35 minAUG 20
Comments
From Idea to Exit - A Startup Fundraising Journey

Finding Fit - Opportunities in the Global South

We dedicate this episode to Fahim Saleh, the Founder and CEO of Gokada, who was killed in New York City on July 13th. Our heartfelt condolences go out to his family and the entire Gokada team.This year, Nigerian fintech companies Paga and Migo are expanding to Latin America, to Mexico and Brazil, respectively. Another Nigerian startup, Gokada, was launched by an entrepreneur who built a successful ride-hailing company in Bangladesh, where there was a similar set of market conditions. In this episode, we explore the similarities - and the opportunities - between emerging markets across the Global South.3:57 - Why is Paga expanding to Mexico? And why is Migo expanding to Brazil? We hear from Paga's CEO Tayo Oviosu, and Migo's former VP of Growth, Adia Sowho.7:42 - Fahim Saleh launched Gokada after successfully founding a ride-hailing company in Bangladesh. What was it about Nigeria, and his experience in Bangladesh, that compelled him to move to Nigeria to build Gokada?12:39 - Investo...

20 minAUG 13
Comments
Finding Fit - Opportunities in the Global South

Global Ambition - Lessons from Tech Expansion

We've had prior discussions on Africa's market size (S1E5) and on Africa-focused investors' pursuit of scale (S1E7). Both topics ultimately lead to the same place for startups: geographic expansion.What are the considerations and implications?2:05 - Keith Davies, former CFO of Zoona, shares cautions startups to be careful because expansion introduces a lot of the complexity for the business.4:35 - Operational considerations of expansion, with Wiza Jalakasi, Head of Business Development at Hover Developer Services.5:31 - It's crucial to pitch to investors an expansion and growth strategy that you can actually execute on, says Paga Group CEO Tayo Oviosu.9:29 - A discussion with M&A advisory firm Magister Advisor's Victor Basta, on expansion, fundraising and exits.13:52 - What does pan-African really mean? with The Subtext's Osarumen Osamuyi.15:29 - And if there are few truly pan-African startups, perhaps there are better markets to expand to outside of Africa.18:07 - A reflective conv...

25 minAUG 6
Comments
Global Ambition - Lessons from Tech Expansion

Co-Building The Future - High-Touch Venture Investing

In this episode, we explore high-touch venture investing models - in particular, venture development and talent investing, as well as peer-selected investment.2:16 - an introduction to accelerator programs and their objectives, with Catalyst Fund's Aaron Fu.3:47 - a discussion with Adedana Ashebir on Village Capital's peer-selected investment model.6:16 - Founders Factory Africa's Lwazi Wali and Sam Sturm on venture building and the merits of a human capital intensive investment model.10:20 - GreenTec Capital Partners takes their venture building model one step further. We hear from Erick Yong on GreenTec's Results for Equity model.16:07 - Then, Catalyst Fund takes their venture building model yet another step further. As Maelis Carraro explains, their program offers venture building as a grant and does not take any equity in the startups in their portfolio.22:55 - While the aforementioned programs support existing startups, Antler's startup generator investment model brings individ...

35 minJUL 30
Comments
Co-Building The Future - High-Touch Venture Investing

Latest Episodes

Smart People Should Build Things - On Recruiting and the Global Competition for Top Talent

The very nature of a high-growth startup means that the company is always growing and hiring at a rapid rate. And for African startups, in particular, the talent question is even more acute, given the general challenges of sourcing for select roles, as well as the difficulty in competing for talent with other startups, multinationals, and companies elsewhere in the world. In this episode, we unpack the talent and recruiting situation for venture-backed startups and growth-stage companies - how do we source for newer types of roles, like product and growth? Do we hire for aptitude and train up? Do we go to where there is more talent? How does remote work - particularly during COVID-19 - play a role here?2:50 - We discuss the current recruiting landscape with Toun Tunde-Anjous, Founder of The People Practice.4:38 - Charles Sekwalor, CEO of Movemeback, shares his views on the talent question, and the opportunities with startups and growth-stage companies on the continent.8:17 - We explore startup recruitment strategy with Ijeoma Oyeyinka, Helium Health's Head of HR.10:26 - Many startups, including Helium Health, use outside recruiters, as well. Toun's The People Practice is one such firm.11:20 - We har from Ijeoma & Mansi Babyloni, Flutterwave's Global Head of People Strategy on the hiring competition, and the pitches they make to mission-driven talent.15:12 - Mansi & Toun on compensation and their experiences with African startups offering equity packages.17:59 - On remote working dynamics and the opportunity to tap into a wider talent pool, particularly due to COVID-19.20:46 - A discussion on training & development of talent, and in particular less experienced talent, on the continent.24:23 - We hear from Aaron Fu, on the Venture for Africa fellowship program, and their endeavor to de-risk an exploration into the African tech and startup ecosystem.28:13 - As always, a reflective conversation between Justin Norman and Sayo Folawiyo on this episode's topic.

31 minOCT 1
Comments
Smart People Should Build Things - On Recruiting and the Global Competition for Top Talent

Much Ado About the Media

In this episode, we explore and unpack the relationship between the tech ecosystem and the media. We'll seek answers to questions such as - what roles do media publications play in the ecosystem? How does this differ between international and local publications? What are the key considerations for the media in doing this work, particularly from a talent and business model perspective? What about companies creating their own content - what is their motivation and what can be learned? And, why is there seemingly a contentious relationship between African tech and the media?2:27 - We talk public relations utility and strategy, with Wimbart's Jessica Hope.6:47 - What role does international tech media play in the ecosystem? We hear from TechCrunch contributing writer Jake Bright.12:05 - A discussion with Tomiwa Aladekomo, of Big Cabal Media, the parent company to TechCabal, on the publications' objectives and challenges.17:03 - We explore how one publication, Stears Business, is tacklin...

44 minSEP 24
Comments
Much Ado About the Media

Connecting the Dots - Japanese Corporates and African Tech

This season we've talked about the relationship between African tech and other emerging markets across the Global South, as well as with China. In this episode, we talk about the ecosystem's relationship Japan - and in particular, the interest Japanese investors and corporates have in innovations from the continent.1:33 - Satoshi Shinada and Rio Yamawaki on the macro situation in Japan, and why Japanese investors are interested in African tech. Satoshi and Rio are GPs at Kepple Africa Ventures, one of the most active VCs on the continent.5:58 - The primary reason why Japanese corporates are interested in investing on the continent is to form strategic partnerships and bring African innovation back with them.9:43 - We explore a case study - the investment in Kenyan startup PayGo Energy by Saisan, a Japanese multinational gas company. We hear from PayGo's Co-founder and CEO Nick Quintong.14:48 - A reflective conversation between Sayo Folawiyo and Justin Norman, on the value of Kepple,...

23 minSEP 17
Comments
Connecting the Dots - Japanese Corporates and African Tech

Telcos, PalmPay, and the Future of Mobile Financial Services

In this episode, we explore the evolution of mobile financial services and the opportunity to deepen financial inclusion in African markets. This opportunity exists for mobile network operators, as well fintechs like PalmPay, backed by hardware manufacturer Transsion, whose smartphone brands - Tecno, Itel, and Infinix - account for over 50% of smartphone devices on the continent.1:55 - We explore the evolution from USSD-led Mobile Money 1.0 to smartphone-led Mobile Money 2.0, with Hover's Wiza Jalakasi.5:11 - Chris Williamson, the Head of M-Pesa at Vodacom Group, describes the future of M-Pesa and mobile financial services, and the role M-Pesa wishes to play to broaden the use cases and lay the rails for others in the ecosystem to build on top of.10:27 - We also hear from Ramatoulaye Adama Diallo, the CEO of Orange Money Senegal, on Orange's approach to increasing the utilization of mobile financial services, and their role in the development of the tech ecosystem.14:24 - While telc...

30 minSEP 10
Comments
Telcos, PalmPay, and the Future of Mobile Financial Services

Building for Purpose - China-Africa Tech

This week, we explore a hypothesis - that the lessons and models from Chinese tech companies have merit in African markets, given certain similarities between China’s development and the current conditions on the continent.2:06 - DFS Lab's Stephen Deng on the experience of Chinese entrepreneurs and investors, and the lessons from leapfrogs in China that may have merit in Africa.5:37 - We hear from Laura Li, VP of Investments of Future Hub, an early-stage investor and accelerator backed by Transsion, the number one cell phone manufacturer on the continenet, and parent company to Tecno, Itel and Infinix.7:43 - A discussion with Vincent Li, the CEO of Future Hub, and Laura on the opportunities they see on the continent, in ecommerce, logistics, social media, and more.14:50 - Another Transsion-backed company, PalmPay, is also leveraging Transsion's distribution and insights from China to grow in Nigeria and beyond. We hear from Sofia Zab, PalmPay's Global Head of Commercial & Marketing...

31 minSEP 3
Comments
Building for Purpose - China-Africa Tech

A Fintech Exit - Inside the MFS Africa Acquisition of Beyonic

Last episode, we went on a hypothetical startup journey from idea to exit. In this episode, we go on a real one.In June of 2020, MFS Africa announced the acquisition of Beyonic. Together, the combined company of 95 employees now enables mobile money interoperability between markets and mobile network operators, and offers a suite of tools for SMEs, in 30-plus African markets. We go inside the acquisition - how it came together, why it makes sense, and what it means - both for the two companies and their stakeholders and for the ecosystem as a whole.2:27 - Introducing some of the main players in the deal - Dare Okoudjou, the Founder & CEO of MFS Africa, Luke Kyohere, Founder of Beyonic, Carina Rumberger, CEO of Beyonic and Rachel Balsham, Deputy CEO of MFS Africa.3:43 - We go back to 2009, when Dare left MTN to start MFS Africa. What was it like running the business in those early days building the foundation and infrastructure for mobile money usage across the continent?7:55 - Luke ...

38 minAUG 27
Comments
A Fintech Exit - Inside the MFS Africa Acquisition of Beyonic

From Idea to Exit - A Startup Fundraising Journey

This episode, we go on a hypothetical startup fundraising journey, from idea to exit.2:04 - At the earliest stage, angel and venture investing is quite subjective, says Zachariah George, angel investor and Managing Director of LaunchAfrica.3:46 - Because of the subjectivity, metrics and valuations don't matter as much at this stage. We hear from Chidinma Iwueke, Partner at pre-seed fund Microtraction, on their standard deal terms.4:56 - A discussion with Andreata Muforo on how TLcom Capital approaches seed and Series A stage valuations.8:56 - We hear from Cikü Mugambi of the IFC's Disruptive Technologies and Venture Capital team, how they leverage comparables of other emerging market startups in their portfolio to value prospective investments in Africa.11:12 - Andreata and Cikü share their views on the exit paths for their portfolio companies.13:17 - After venture capital comes private equity, and a discussion with Helios Investment Partners' Fope Adelowo.19:37 - We hear from Vic...

35 minAUG 20
Comments
From Idea to Exit - A Startup Fundraising Journey

Finding Fit - Opportunities in the Global South

We dedicate this episode to Fahim Saleh, the Founder and CEO of Gokada, who was killed in New York City on July 13th. Our heartfelt condolences go out to his family and the entire Gokada team.This year, Nigerian fintech companies Paga and Migo are expanding to Latin America, to Mexico and Brazil, respectively. Another Nigerian startup, Gokada, was launched by an entrepreneur who built a successful ride-hailing company in Bangladesh, where there was a similar set of market conditions. In this episode, we explore the similarities - and the opportunities - between emerging markets across the Global South.3:57 - Why is Paga expanding to Mexico? And why is Migo expanding to Brazil? We hear from Paga's CEO Tayo Oviosu, and Migo's former VP of Growth, Adia Sowho.7:42 - Fahim Saleh launched Gokada after successfully founding a ride-hailing company in Bangladesh. What was it about Nigeria, and his experience in Bangladesh, that compelled him to move to Nigeria to build Gokada?12:39 - Investo...

20 minAUG 13
Comments
Finding Fit - Opportunities in the Global South

Global Ambition - Lessons from Tech Expansion

We've had prior discussions on Africa's market size (S1E5) and on Africa-focused investors' pursuit of scale (S1E7). Both topics ultimately lead to the same place for startups: geographic expansion.What are the considerations and implications?2:05 - Keith Davies, former CFO of Zoona, shares cautions startups to be careful because expansion introduces a lot of the complexity for the business.4:35 - Operational considerations of expansion, with Wiza Jalakasi, Head of Business Development at Hover Developer Services.5:31 - It's crucial to pitch to investors an expansion and growth strategy that you can actually execute on, says Paga Group CEO Tayo Oviosu.9:29 - A discussion with M&A advisory firm Magister Advisor's Victor Basta, on expansion, fundraising and exits.13:52 - What does pan-African really mean? with The Subtext's Osarumen Osamuyi.15:29 - And if there are few truly pan-African startups, perhaps there are better markets to expand to outside of Africa.18:07 - A reflective conv...

25 minAUG 6
Comments
Global Ambition - Lessons from Tech Expansion

Co-Building The Future - High-Touch Venture Investing

In this episode, we explore high-touch venture investing models - in particular, venture development and talent investing, as well as peer-selected investment.2:16 - an introduction to accelerator programs and their objectives, with Catalyst Fund's Aaron Fu.3:47 - a discussion with Adedana Ashebir on Village Capital's peer-selected investment model.6:16 - Founders Factory Africa's Lwazi Wali and Sam Sturm on venture building and the merits of a human capital intensive investment model.10:20 - GreenTec Capital Partners takes their venture building model one step further. We hear from Erick Yong on GreenTec's Results for Equity model.16:07 - Then, Catalyst Fund takes their venture building model yet another step further. As Maelis Carraro explains, their program offers venture building as a grant and does not take any equity in the startups in their portfolio.22:55 - While the aforementioned programs support existing startups, Antler's startup generator investment model brings individ...

35 minJUL 30
Comments
Co-Building The Future - High-Touch Venture Investing
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