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Building Africa's Super-App — Yassir's Journey | Noureddine Tayebi (Yassir) & Daegwon Chae (BOND)
Join Yassir's CEO and BOND's expert as they share their insights on building a successful super-app in Africa, navigating the region's unique market challenges, and the importance of empowering local talent and understanding pain points.
- The African market is characterized by a large informal economy, with over 90% of transactions happening in cash.
- To succeed, it’s essential to believe in one’s mission and never give up.
- The region’s young population (over 80% under 35) presents a huge opportunity for wealth creation.
- Cash is a major advantage in Africa, with many people having limited access to banking services.
- Building a local champion that can be emulated by others is crucial for scalability.
- Empowering local talent and providing opportunities for they to build great platforms is essential.
- Demographic trends in Africa (75% of population under 35) are the most compelling globally.
- Building a company in a region with a cash-heavy economy requires creative solutions, such as using mobile agents to collect and deposit cash.
- Africa has a huge opportunity for wealth creation, but it requires understanding the pain points of all sides of the marketplace.
- To succeed, it’s essential to have a clear strategy and execution, as well as a clear vision for why the company deserves to exist and the impact it has.