“Ideas are free. Do a Google, and you’ll come up with ten great ideas in the financial sector. The idea is to convince me, as an investor, that you are the best person to execute that. ”
— Mohamed Okasha
Where is the real opportunity in African Fintech? And why did the co-founder of Fawry, Egypt’s first tech unicorn, walk away from it to start over during a global pandemic?
Today’s guest is Mohamed Okasha, Founder and Managing Partner of DisrupTech Ventures, and he joins the show today to talk about how he builds startups that make each other stronger, as well as what makes a good founder in Africa versus a good founder in the USA.
Listen in as Mohamed shares the story behind helping to build Fawry into Egypt’s first tech unicorn—and then leaving shortly after its landmark IPO to launch DisrupTech, a first-time venture capital fund during COVID-19.
You’ll hear about tackling financial inclusion in a heavily cash-based economy, what is required for financial inclusion to work, and why the investors who understand what he calls “the African way” stand to capture the most durable upside in the decade ahead.
From the most important testing ground for scalable FinTech in Africa to what people should expect when investing in African companies, Mohamed offers valuable insights and practical lessons on investing, leadership, and decision-making. He also opens up about the influence of his upbringing, the mindset his parents encouraged around risk-taking and failure, and how his early experiences shaped his entrepreneurial journey.
What is often the ultimate competitive advantage in Africa’s startup ecosystem? What matters more than big ideas?
Mohamed answers these questions and many more.
If you’re curious about what helps founders grow stronger companies, or why many global investors could be overlooking major opportunities in underserved markets, this episode is one you won’t want to miss.
Listen to the full conversation.
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Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, YouTube Music, Amazon Music, or on your favorite podcast platform. You can watch the interview on YouTube here.
What was your favorite quote or lesson from this episode? Please let me know in the comments.
SHOW NOTES:
[03:30] Why Mohamed decided to leave Fawry after its billion-dollar IPO to start a venture fund during COVID
[05:05] The importance of making decisive moves during pivotal moments in life
[08:54] The role Mohamed’s parents played in encouraging risk-taking
[18:53] How routine and discipline help Mohamed succeed
[20:45] What Mohamed saw at Vodafone that no one else could see
[25:45] How his team built trust with their clients
[31:27] Why Fawry kept “one leg in the physical world and one leg in the digital world” during the transition to digital payments
[52:30] What makes a good founder in Africa versus a good founder in the USA
[01:03:00] The importance of advisory rather than relationships
[01:06:40] How Mohamed builds startups that make each other stronger
[01:09:15] How he encourages collaboration between founders without forcing partnerships
[01:15:00] What backseat leadership looks like to Mohamed
[01:21:37] What people should expect as an investor in African companies
[01:30:16] Why many global investors could be overlooking major opportunities in underserved markets
Additional Resources:
MORE QUOTES FROM THE INTERVIEWS:
“Cash will never disappear. It didn’t disappear in any market. It’s not about getting rid of cash — it’s about efficiently managing cash. ”
— Mohamed Okasha
“There is an African way of doing venture capital, and there is a Silicon Valley way of doing venture capital. ”
— Mohamed Okasha
