#29: bKash - How the FinTech payments platform became Bangladesh’s largest tech company

Afrobility: Africa Tech and Business

Content provided by Olumide Ogunsanwo and Bankole Makanju, Olumide Ogunsanwo, and Bankole Makanju. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Olumide Ogunsanwo and Bankole Makanju, Olumide Ogunsanwo, and Bankole Makanju or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

3y ago 1:55:13

MP3•Episode home

Overview: Today we’re going to talk about bKash - The largest Fintech player in Bangladesh. We start with some background on Bangladesh, discuss bKash’s founding, growth & impact on Bangladesh's economy. We also discuss what other emerging markets can learn from the bKash story & end with our overall outlook. This episode was co-hosted with Shammi Quddus & recorded on May 16, 2021.

Companies discussed: bKash, CellBazaar, Money in Motion, Grameenphone, Grameen Bank, BRAC, BRAC Bank, Safaricom (M-Pesa), Nagad, Telenor, Gates Foundation, IFC (World Bank) & Alibaba (Ant Financial)

Business concepts discussed: Agency banking, ecosystem partnerships, microfinance expansion, Nonprofit fundraising, impact investing, Telco distribution & serial entrepreneurship

Conversation highlights:

(00:30) - Why are we talking about bKash and Bangladesh FinTech
(04:40) - Bangladesh context and similarities to African countries
(14:50) - Fintech context in Bangladesh before bKash in 2011
(16:20) - Founder background - Kamal Quadir background, CellBazaar
(22:05) - bKash background - Iqbal Quadir, Grameenphone, etc.
(30:48) - bKash founding
(47:18) - Fundraising - IFC , BMGF, Ant Financial
(59:30) - Product & monetization strategy
(1:22:22) - Impact of bKash on the tech sector and economy
(1:23:56) - Bankole’s overall thoughts and outlook
(1:36:26) - Olumide’s overall thoughts and outlook
(1:42:20) - Shammi’s overall thoughts and outlook
(1:50:41) - Recommendations and small wins

Olumide’s recommendations & small wins:

Recommendation: Indistractable: How to Control Your Attention and Choose Your Life (by Nir Eyal) & Seeking Wisdom: From Darwin to Munger (by Peter Bevelin)
Small win: Dinner with friends with a live band. Some chatting, some drinking & some dancing. Marvelous!

Bankole’s recommendations & small wins:

Recommendation: Prescription Drug Commercials - why they are the way they are by Packy McCormick and Nikhil Krishnan
Small win: Spending a week in New York
Other content: M-Pesa rate card, FT Partners

Shammi’s recommendations & small wins:

Recommendation: Fintech podcast 11fs.com/podcast
Small win: Got my COVID vaccine! Vaccines for the win!
Other content: Bangladesh Bank MFS guidelines, bKash gives a boost to the poor

We’d love to hear from you. Please email info@afrobility.com to share feedback or propose topics you’d like to hear.

Join our insider mailing list where we get feedback on new episodes & find all episodes at Afrobility.com

77 episodes

#Tech #Afrobility