#67: Sabi - How the B2B retail platform is providing business services to informal SMB retailers, distributors, suppliers and manufacturers in Nigeria and Africa

Afrobility: Africa Tech and Business

Overview: Today, we’re going to talk about Sabi, the B2B retail & supply chain services platform. We’ll explore the story across the following areas:

1. Africa’s and Nigeria’s informal retail sector

2. Sabi’s early history

3. Product & monetization strategy

4. Competitive positioning & potential exit options

5. Overall Outlook.

This episode was recorded on July 23, 2023

Companies discussed: Sabi, Rensource, TradeDepot, Twiga Foods, Wasoko (Sokowatch), Omnibiz, Alerzo, & Marketforce

Business concepts discussed: Informal retail penetration, SMB retail OS, B2B Operating systems, Equity carve-outs, Power as a service, Channel margins & Supply chain logistics

Conversation highlights:

• (01:00) - Sabi context

• (06:30) - Africa and Nigeria informal retail context and background

• (20:39) - Background on the founders

• (30:04) - Quick Rensource detour - overview and background

• (37:05) - Background on Sabi founding

• (47:52) - Fundraising

• (56:40) - Geographic expansion, partnerships and metrics, and growth

• (1:10:15) - Product Strategy

• (1:21:17) - How Sabi makes money

• (1:32:06) - Competition and options for exit

• (1:46:16) - Bankole’s overall thoughts and outlook

• (1:55:59) - Olumide’s overall thoughts and outlook

• (2:07:49) - Recommendations and small wins

Olumide’s recommendations & small wins:

• Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at [e-mail]. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at [e-mail]

• Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)

• Recommendation: Outlive: The Science and Art of Longevity (book by Peter Attia)

• Recommendation: I Don't Want to Talk About It: Overcoming the Secret Legacy of Male Depression (book by Terrence Real)

• Small win: Organized House party with friends yesterday, it was fun.

• Small win: Got a new backpack for future travelling, very nice.

Bankole’s recommendations & small wins:

• Recommendation: Invest Like The Best with the co-founder of FIGS & Spiderman Song - Nigerian Remix

• Small win: New keycaps!!!

• Other content: How Equifax became a private IRS, Mission.org podcast episode with CEO Sabi & Norrsken22-Backed Nigerian Startup Plans $125 Million Round

Listeners: We’d love to hear from you. Email [e-mail] with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at [e-mail]

Investors: It would be great to link up with you. Contact us at [e-mail]

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