African Business Stories Podcast

Resilience takes on new meaning in my conversation with Chioma Okotcha-Faloughi, Co-founder of Rivi (formerly PayHippo), whose entrepreneurial journey embodies the grit required to build transformative businesses in Africa.

Chioma never planned to become an entrepreneur. With her computer science background and experience spanning finance, policy, and education, she initially saw herself driving change through government channels. But a chance conversation about Nigeria's credit access problems led to co-founding PayHippo in 2019, where they moved from concept to customers in just weeks. After completing Y Combinator and raising $4 million, they were supporting thousands of small businesses with crucial financing.

Then came the storm. A devastating fraud attack combined with the departure of both co-founders pushed the company to the brink. "I had investors ask why I didn't just walk away," Chioma reveals. Her decision to stay and fight – while managing a newborn at home – ultimately led to one of Africa's most remarkable business pivots. Recognizing Nigeria's energy crisis following subsidy removals, she transformed the company into Rivi, financing clean energy solutions for businesses across the country.

What makes Chioma's story particularly powerful is her transparency about the darkest moments. From letting go 60% of her workforce to months without paying herself, she shares the painful realities rarely discussed in entrepreneurship circles. "Before this, I was just a nice tech founder. After hitting rock bottom, I became a fully certified entrepreneur," she laughs. Her advice to women building in Africa resonates deeply: "Stay the course, don't give up too soon, drill deeper."

Whether you're an entrepreneur, investor, or simply fascinated by Africa's business evolution, this episode offers rare insights into building purpose-driven companies that survive existential threats. Follow Rivi's continuing journey at @RiviHQ and subscribe for more stories of African business innovation.

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Kudzayi Hove's entrepreneurial journey from Zimbabwe to Nigeria represents a masterclass in adapting, pivoting, and building with purpose in Africa's challenging business landscape. As co-founder and CEO of Amayi Foods, meaning "mother" in her native Shona language, Kudzayi and her co-founders have transformed what began as a passion for Ghanaian Shito sauce into a mission to reclaim value from African agricultural commodities.

The path hasn't been straightforward. After leaving her finance career at AFC, Kudzayi and her co-founders discovered that their initial focus on premium condiments and modern retail channels was limiting their growth potential. This realization prompted a fundamental strategic shift toward mass-market essentials like tomato paste that could reach consumers through traditional markets, which account for 90% of retail volume in Nigeria. Today, Amayi's products are distributed across 29 states, with 99% of sales flowing through these traditional channels.

What sets Amayi's approach apart is their deep understanding of vertical integration. Rather than simply manufacturing consumer products, Kudzayi recognized that sustainable growth required building lasting partnerships with farmers and aggregators. This infrastructure not only secures consistent inputs for their retail products but has evolved into a broader vision of processing African commodities for international markets – capturing substantially higher margins than exporting raw materials.

The company stands at a transformative moment with plans to acquire an established manufacturing operation that will dramatically scale their capabilities. Looking ahead, Kudzayi envisions Amayi as a $100 million enterprise within 5-7 years, built on three pillars: a strong FMCG platform with leading market positions, a nutritional commodities business serving domestic and international markets, and a commodity processing operation that maximizes value from African agricultural products.

For fellow entrepreneurs, particularly women, Kudzayi offers wisdom earned through a decade of building: take care of yourself while you build. Even in the midst of survival-level challenges, finding moments for rest and renewal isn't a luxury but a necessity for sustainable success.

Discover Amayi's products in markets across Nigeria or connect with them through social media @amaifoods_ng and at www.amaifoods.com.

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Kikelomo Fola-Ogunniya's entrepreneurial journey proves that sometimes the most successful businesses begin by solving your own problems. What started as a simple solution to cross-border shopping frustrations has evolved into Cargo Plug, a tech-enabled logistics company transforming how African businesses connect to global markets.

When Kike and her co-founder Ama couldn't find reliable ways to ship purchases from the UK to Nigeria, they created their own solution. Operating from the trunks of their cars during lunch breaks from their oil industry jobs, they bootstrapped a side hustle that would eventually become a full-fledged international logistics company. Their company, initially called Jand to Gidi, has since evolved into CargoPlug, offering comprehensive shipping solutions from virtually any country to Nigeria and vice versa.

What makes their story remarkable isn't just business growth, but the sustainability of their partnership. In an ecosystem where co-founder relationships often fracture under pressure, Kike and Ama have maintained a thriving partnership for 13 years. Their secret? Clear role definition based on natural strengths, transparent communication, and unwavering trust.

The Cargo Plug journey offers practical wisdom for entrepreneurs everywhere. They diligently tracked financials from day one, which positioned them perfectly when seeking funding opportunities. They've weathered economic fluctuations, a global pandemic, and technological shifts while continuously evolving their services. Most impressively, they've built proprietary technology in-house, including user dashboards and shipping APIs that integrate with global platforms.

Through their 'RICE' core values – Reliable, Intelligent, Customer-focused, and Exciting – they've created a company culture that keeps team members engaged for years, some approaching a decade with the company. Their story stands as powerful evidence that African entrepreneurs can build sustainable, tech-enabled businesses that solve real problems while creating meaningful economic opportunity.

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Sarah Dusek's entrepreneurial journey reads like an adventure novel – from studying law in the UK to selling her glamping company for over $100 million and then dedicating herself to funding female entrepreneurs across Africa. Her story proves that business can be the most powerful vehicle for driving meaningful change in the world.

After a heartfelt connection with Zimbabwe during her nonprofit days addressing the AIDS crisis, Sarah experienced a profound sense of belonging that would later draw her back to the continent. When her nonprofit work felt incomplete, she made a pivotal realization: perhaps business, rather than charity, could create more sustainable impact.

This mindset shift led her through several entrepreneurial ventures, including the devastating failure of her first business during the 2008 financial crisis. Rather than surrender to conventional employment, Sarah and her husband relocated to Montana and bootstrapped what would become Under Canvas – luxury safari-inspired accommodations near America's national parks. The business struggled initially until Sarah made the crucial decision to pursue venture capital rather than continue growing slowly.

"I realized I couldn't play small," Sarah explains. "If this business was going to last and build something of value, significance, and impact, we had to go big or go home." This perspective shift catapulted Under Canvas to a successful exit, but the fundraising journey exposed Sarah to the challenges female founders face in accessing capital.

True to a promise she made herself during those difficult fundraising days, Sarah created Enygma Ventures after her exit – a fund exclusively backing female entrepreneurs across Africa. Her investment philosophy prioritizes determined founders who demonstrate exceptional execution abilities above revolutionary ideas.

Today, Sarah continues building with Few and Far, a regenerative travel company developing eco-lodges in South African wilderness areas. Her message to female entrepreneurs remains consistent: think bigger, don't let anyone tell you no, and remember that when women create and distribute wealth, only good things happen.

Subscribe for more conversations with the pioneering entrepreneurs reshaping Africa's business landscape and driving continental transformation through bold, innovative ventures.

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Banke Kuku's extraordinary transformation from textile designer to luxury fashion entrepreneur offers a masterclass in creative evolution and business resilience. After honing her craft at prestigious institutions like Central Saint Martins and Chelsea College of Arts, Banke's journey took an unexpected turn when customers began requesting to wear her vibrant prints rather than just display them as home décor.

What followed was a remarkable story of adaptation and growth. Having launched her fashion line just months before the pandemic, Banke faced what could have been a business-ending disruption. Instead, she quickly pivoted to online sales, discovering that her colorful, joy-filled designs resonated deeply with customers seeking brightness during dark times. This pivot not only saved her business but fueled its expansion from a team of five to approximately 45 people today.

At the heart of Banke's brand is storytelling through design. Her prints draw inspiration from Nigeria's rich natural environment, challenging stereotypes and showcasing the country's beauty. "Not everything in Nigeria is concrete," she notes, explaining how her work educates people to see her homeland differently. This commitment to positive representation extends beyond fashion through her initiative "Prints for Purpose," supporting environmental conservation and community development.

The Banke Kuku brand now enjoys global reach with stockists across Africa, the Middle East, Europe, and North America. Her collaborations with celebrities like Gabrielle Union highlight how African designers can build international luxury brands while maintaining authentic cultural connections. For aspiring entrepreneurs, Banke offers simple yet powerful advice: be patient and consistent. As she reminds us, "Good work takes time," especially when weaving dreams into reality.

Subscribe to African Business Stories to hear more inspiring conversations with the female entrepreneurs shaping Africa's economic future.

ABS WEBSITE: www.africanbusinessstories.com

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