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- The Rise of African Giants
The Rise of African Giants
My choice to completely pivot from building a promising SAAS to explore fintech in Africa.
The life pivot
After selling Snipfeed, I went all-in building CreativeWiz as a solopreneur.
I was going all-in with CreativeWiz, doing everything from coding to marketing. My goal was to achieve 15K MRR within 6months
My play was simple: create a platform to help business owners/writers generate compelling LinkedIn/X content using AI, especially repurposing their existing content (newsletter/podcast) into social posts.
I had everything figure out:
personal branding is on the rise on LinkedIn/X.
I built a great first version of the product.
I had beta testers enjoying the platform and first paying customers.
the go-to-market strategy was simple.
I created a newsletter explaining all the steps to build this product and scale it, and would use this newsletter as a use case for my product.
Working as a solopreneur would give me a lot of freedom (to work in remote places).
However, a little voice inside of me was telling me otherwise.
Different thoughts were slowly emerging in my mind:
after 6 years in the "startup tunnel” at Snipfeed, I was jumping right into a new one with CreativeWiz without taking time to rest my mind and explore new industries.
CreativeWiz was maybe just filling the void left by the exit: all of a sudden I had plenty of time and I was never used not to work.
The excitement + financial opportunity of building and scaling a SAAS was not enough to keep me motivated: I really needed a high impact & ambitious project.
I’ve always wanted to explore my African roots (I’m half Ethiopian) and learn Amharic.
I’m financially safe + have time
I’ve always been curious about fintech, especially in emerging markets.
3 weeks ago, the idea of going to Africa and really take time to explore fintech started to solidify in my head.
This desire to solve problems for the next billion people is not something new.
I found my SOP letter that helped me get into Berkeley and Columbia University in 2016 and I was already talking about this, crazy.
Bonus: I’ll share my statement of purpose letter here if you have siblings applying for top US universities 😉
What’s next for me?
At the beginning of July, I’ll spend 3 months in 3 different African countries to explore the fintech space by directly meeting founders, investors, stakeholders etc.
I have several objectives for this trip:
Deeply dive into the fintech space, understanding the different dynamics (regulation, payment, web3, insurance, etc).
Understand the technical part behind.
Identify opportunities and understand the challenges.
Meet with inspiring founders & build my network.
In 2017 I joined a FB messenger group with African founders in Silicon Valley. I’m amazed by their energy and kindness.
And the first country I’ll visit is… Ethiopia 🇪🇹! This is my mom’s country, and I’ve been there several times.
In 2017, I did a short internship at a consulting firm in Addis Ababa, and I’m very excited to see how the country has changed.
The second country will be… Kenya 🇰🇪! No need to say that this is one of the most entrepreneurial African countries, often taken as an example.
The third country: it will be a West African country, I’ll keep it a surprise 👀
During this trip, I’ll share all my learnings within African Giants.
I’ll try to explain as clearly as possible the complex dynamics within the fintech space in Africa.
Interesting: the post-exit phenomena
Life after an exit, whether it was successful or not, is weird.
Everyone is asking if you are happy, but all you can think about is, “What am I going to do next?”
Founders often feel lost because their identity is so tied to their startup. This can lead to a sense of emptiness and confusion, even with new freedom and financial security.
What makes it even more confusing is the spectrum of possibilities: Should I start a new business? In what field? Should I take a 6-month break, start a new hobby, etc.?
If you are interested in this weird phase, or you are experiencing it yourself, here is a great article about it.
The Music Box
If you are not familiar with Nigerian music, you’re missing out. Don’t worry, I’ll share my top music finds in this box 😉