On this episode of Building the Future, we have Ngozi Dozie, cofounder at One Finance (OneFi).

OneFi is a platform that provides access to finance by leveraging data and technology. One of their major products is Paylater, a lending mobile app which enable people to get access to short term loans in Nigeria as quickly as possible.

Ngozi  has an interesting background: He has a First Class degree in Physics from Imperial College London; MSc in Computation from Oxford University; and MBA from The Wharton School.

Before he started his business, he had a career as a finance man. He used to be an investment banker with JPMorgan, a risk consultant with Arthur Andersen UK, and worked as a financial analyst with Deloitte.

But now, Ngozi wears many hats as an entrepreneur. He is involved in several other businesses such as Cafe Neo, a coffee chain with outlets in Lagos and Kigali.

A large franchise of Mr. Biggs quick-service restaurants in Nigeria and a company that processes and export coffee from Rwanda.

On this episode, we spend a bit of our time time talking about the opportunities and challenges in running multiple businesses at the same time, and the paradox of focus for African entrepreneurs.

While listening to this, you’ll learn:

  • Why Ngozi thinks running many different ventures may not be the wisest decision for anyone to make.
  • 3 major ways to invest in growth companies – private equity, venture capital and venture building.
  • Ngozi’s theory on how building companies from scratch is easier to do than trying to scale an existing business.
  • How his parents built Diamond bank.
  • The risks involved in giving small unsecured loans to individuals which Ngozi believes is the same with lending to companies or individuals with higher net worth. A surprising statistic: Paylater’s rate of non-performing loans is arguably lower than that of commercial banks.
  • Why he left Wall Street and quit his job working in investment banking to start over again in Africa.
  • The future of lending and credit in Nigeria.
  • His biggest pain point running his businesses and the growth metric he measures.
  • The importance of solving real/big problems as a startup in Nigeria right now. Opportunities that abound in logistics, healthcare, power, etc.
Read this next

Our guest this week is Marek Zmyslowski. Marek is the cofounder of Jumia Travel (formerly Jovago) and HotelOga. HotelOga is a hotel management system which enables hotels in Africa to have their own booking engine, websites and customer relationship management system. Earlier this year, HotelOga merged with Savanna Sunrise, another travel and hospitality marketing company based in […]

More From TC

On Thursday, July 11, 2019, TechCabal hosted its second townhall of 2019 to discuss the importance of renewable energy to Africa for improving access to electricity. The event also highlighted the challenges that exist in the renewable energy market and how they should be addressed.

Some of China’s Most Innovative Companies are now backing Nigeria’s OPay
Business, FinTech, Funding, News, Ridesharing, startups, Technology, Venture Capital
15th July 2019

Nigeria-based OPay has closed a new $50 million funding round, the largest for any Nigerian tech startup so far in 2019. The company will use the new funding to deepen its roots in the Nigerian market for all its digital businesses including ORide and OFood. It also has plans to expand to other African markets.


TechCabal is a Big Cabal Media brand



Copyright © 2019
All rights reserved

Privacy & Terms