#54, Disrupting property rentals in Lagos. Obinna Okwodu, Fibre.ng

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.

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Episode 54