Player FM 앱으로 오프라인으로 전환하세요!
Save Now, Buy Later: A Culturally-relevant Approach to Consumption?
Manage episode 431848278 series 3452340
In the previous episode of The Trajectory Africa, we explored the art and science of community lending to microbusinesses. In this episode, we turn from business lending to consumer savings, but as an antidote to a consumer lending model called buy now, pay later, or BNPL.
BNPL emerged as a global trend in the wake of COVID-19 and the tough macroeconomic environment that accompanied it. As inflation increased the cost of living, people started using these short term loans issued, after a quick credit check at the point of sale, to get by.
According to Afridigest, these solutions also proliferated across the continent, delivered by companies like LipaLater, Klump and Float. But SNBL products, otherwise known as save now buy later, are being offered by innovators who believe that BNPL lacks a viable business model, promotes cyclical indebtedness in its users, and contradicts cultural norms that favor saving over lending. Ng’winula Kingamkono, Founder and CEO of Tunzaa is on a mission to transform the financial habits of everyday Africans (and improve the business operations of merchants while he’s at it).
Tune in to hear about:
[1:49] - Ng’winula’s “alter ego”
[5:45] - Why save now buy later
[8:15] - How Tunzaa works
[16:28] - Building a two-sided marketplace, API first
[25:06] - Savings vs. credit culture
[30:50] - Product suite evolution and growth
[47:27] Beliefs about consumption and the impact of the macroeconomic environment, consumer behavior
[55:00] - Counterintuitive first principle
Recommendations:
- Save now, buy later: an emerging fintech model. This episode is inspired by Afridigest’s reporting on the save now, buy later model.
- Chasing Outliers. Why Context Matters for Early Stage Investing in Africa, a report I co-authored on VC investing in Africa.
Connect on social media:
30 에피소드
Manage episode 431848278 series 3452340
In the previous episode of The Trajectory Africa, we explored the art and science of community lending to microbusinesses. In this episode, we turn from business lending to consumer savings, but as an antidote to a consumer lending model called buy now, pay later, or BNPL.
BNPL emerged as a global trend in the wake of COVID-19 and the tough macroeconomic environment that accompanied it. As inflation increased the cost of living, people started using these short term loans issued, after a quick credit check at the point of sale, to get by.
According to Afridigest, these solutions also proliferated across the continent, delivered by companies like LipaLater, Klump and Float. But SNBL products, otherwise known as save now buy later, are being offered by innovators who believe that BNPL lacks a viable business model, promotes cyclical indebtedness in its users, and contradicts cultural norms that favor saving over lending. Ng’winula Kingamkono, Founder and CEO of Tunzaa is on a mission to transform the financial habits of everyday Africans (and improve the business operations of merchants while he’s at it).
Tune in to hear about:
[1:49] - Ng’winula’s “alter ego”
[5:45] - Why save now buy later
[8:15] - How Tunzaa works
[16:28] - Building a two-sided marketplace, API first
[25:06] - Savings vs. credit culture
[30:50] - Product suite evolution and growth
[47:27] Beliefs about consumption and the impact of the macroeconomic environment, consumer behavior
[55:00] - Counterintuitive first principle
Recommendations:
- Save now, buy later: an emerging fintech model. This episode is inspired by Afridigest’s reporting on the save now, buy later model.
- Chasing Outliers. Why Context Matters for Early Stage Investing in Africa, a report I co-authored on VC investing in Africa.
Connect on social media:
30 에피소드
모든 에피소드
×플레이어 FM에 오신것을 환영합니다!
플레이어 FM은 웹에서 고품질 팟캐스트를 검색하여 지금 바로 즐길 수 있도록 합니다. 최고의 팟캐스트 앱이며 Android, iPhone 및 웹에서도 작동합니다. 장치 간 구독 동기화를 위해 가입하세요.