Obinna Okwodu is the founder and CEO of Fibre.ng, a real estate company looking to provide middle-income tenants with the option to pay monthly for rented properties.
Renting real estate in Lagos is a lot of hassle especially for the demand side. Landlords would typically demand 2 years rent upfront. Fibre set out to solve this problem and is growing fast in Lagos.
Obinna who is an MIT graduate and ex-Morgan Stanley Investment Bank analyst has been listed as Forbes as one of the most promising young entrepreneurs in Africa in 2018.
In this episode you’ll learn:
- How and when Obinna got the idea to establish Fibre.ng
- The previous he ran before Fibre
- Majority of Fibre’s market are the millennials. How did this happen? How do you build a solution for a particular age bracket?
- How do you validate your business idea? Obinna shares how they validated their idea using a flash page and a tweet
- There has been a shift in the problem Fibre is solving. What is it?
- What were the challenges they faced from property owners? How did they solve these challenges?
- How will they deal with the challenge of new competition?
- How to use data for predictive analysis when developing your product
- What are their expansion plans into other markets?
- Fibre.ng has raised a total of $800k so far. Find out what their plan is for raising money in the future
- What is the biggest pain point of this business?
- And more
Selected Books from this episode
Building The Future Podcast Season 3 is sponsored by Flutterwave
Flutterwave drives growth for banks and businesses across Africa through digital payment technology. You can learn more about their activities here.