Bezi

Empowering African founders through access to top tier talents, world-class mentors communities & diverse investment networks. Join the Bezi Community!

[Bezi @BeziBuild]

What’s your opinion about African startups?

[Bezi @BeziBuild]

A strong team is not merely a support system for a startup founder; it is the foundation upon which the company's success is built, enabling it to navigate the complexities of the ecosystem.

[Bezi @BeziBuild]

When partnering, focus on the particular problem you can solve and make that the main focus of your approach.

[L.a.m.i the Pivoter!♋ @thelamiblunt]

They should solve more problems for Africans, instead of being copies of copies🤦🏽‍♀️

[Bezi @BeziBuild]

What’s your opinion about African startups?

[Bezi @BeziBuild]

There are 1,361 unicorns worldwide. The U.S., China, and India are leading with 666, 316, and 68 unicorns respectively.

Africa has produced 9 unicorns since the presence of venture and private equity funding in the ecosystem which shows the startup scene is still growing.

[Bezi @BeziBuild]

Bezi fellows have access to;
- Live sessions, workshops and Q&A
- Office hours with mentors
- Pitch prep and fundraising advice
- Resources and content from previous cohort.
- Access to leading Africa-focused and Global VCs and Angel Investors

Apply here - https://t.co/ZVzfosHuHS

[Bezi @BeziBuild]

Applications for the Bezi Fellowship Program (BF2) are still ongoing.

It's a 5-week cohort program with engaging sessions for first-time African startup founders and entrepreneurs to learn the ins and outs of entrepreneurship and access world-class mentors and resources needed to create and grow their startups.

[Bezi @BeziBuild]

In a bid to raise funds for your startup, be careful to not give away too much too soon.

[Bezi @BeziBuild]

Applications for the Bezi Fellowship Program are still ongoing. If you'd like to be in a place that helps you get your startup idea off the ground and navigate the complexities of the African ecosystem, consider applying to Bezi.
Apply here - https://t.co/NNCU8atImh

[Bezi @BeziBuild]

Learn more about the Egyptian corporation here - https://t.co/wsR2CXOeki

[Bezi @BeziBuild]

Other factors that may have contributed to Fawry’s success include;

Time of launch in the market.
Business model.

[Bezi @BeziBuild]

4. Have an exit strategy

Fawry was one of the African unicorns to use an IPO as exit. When it was founded, no technology company was listed on The Egyptian Exchange (EGX). Eleven years later, it became the first Egyptian fintech company in the private sector to list its shares on the EGX.

[Bezi @BeziBuild]

3. Leverage partnerships

To help push its product to the market, Fawry first signed up with four banks in Egypt - Credit Agricole, Bank of Alexandria, state-owned Banque Misr, and Banque du Caire. The Egyptian Government is at the center of it all, as Fawry also partnered with the Government to create digital communication channels between citizens and governmental services.

[Bezi @BeziBuild]

Fawry is the largest e-payment platform in Egypt. It was launched in 2008 as the first fintech in Egypt.

In 2019, it went public and offered 36% of its shares on the Egyptian exchange (EGX). In 2020, it became Africa's third Unicorn.

Here are 4 lessons to learn from Fawry👇🏼

[Bezi @BeziBuild]

2. Pivot when necessary

When Fawry started, they began with banking channels and ATMs. But they saw that Egypt was a cash-oriented system, so they had to pivot into retail by having various point-of-sale agents across the country. As people trusted the POS systems, they gradually introduced digital channels, making it 10x easier for Egyptians to carry out transactions.

[Bezi @BeziBuild]

1. Have a thorough understanding of the market

Before Fawry, utility payments in Egypt were a hassle. Only about 10% of the Egyptian population had bank accounts. Fawry saw an opportunity to digitize payments and relieve people of the stress of it. So they became an intermediary between the people and the companies who collected payments.

[Sam Otigba @SamuelOtigba]

These are the most dangerous people in your circle.

[Bezi @BeziBuild]

From July 2021 to June 2022, the big four collectively secured $4.6bn in funding. A year later, funding decreased significantly, especially in Nigeria (-77% YoY), losing the top spot to Egypt (-25%). Is this a temporary dip or a long-term trend?
Source: @AfricaTBD