Ovamba News https://www.ovamba.com/blog Tue, 15 Jan 2019 14:19:51 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.1 http://blog.ovamba.com/wp-content/uploads/2016/07/cropped-Logo-Large-2-150x150.png Ovamba News https://www.ovamba.com/blog 32 32 Winning in Africa’s Fintech: The Ovamba Way by Viola Llewellyn https://www.ovamba.com/blog/winning-in-africas-fintech-the-ovamba-way-by-viola-llewellyn/ Tue, 15 Jan 2019 14:19:46 +0000 https://www.ovamba.com/blog/?p=983 Ovamba Co-Founder & President, Viola Llewellyn was invited to collaborate with industry leaders on the 2019 Brookings Institute report on “Africa’s Untapped Business Potential”.

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Ovamba Co-Founder & President, Viola Llewellyn was invited to collaborate with industry leaders on the 2019 Brookings Institute report on “Africa’s Untapped Business Potential”. The full report also features contributions from Acha Leke of McKinsey and Aliko Dangote, President & Chief Executive of Dangote. 

All businesses need capital to grow. This is especially true in most of Africa. Ovamba, which is often referred to as a “fintech” platform, specializes in trade and technology. It was founded in 2013 and launched a successful pilot in Cameroon in 2014. Ovamba’s strategic focus is to offer businesses in the formal and informal sector short-term capital for the importation of wholesale/retail goods and to support exportation of commodities such as coffee, cocoa, and cashews. The inspiration came to us when we observed how the under-developed business ecosystem was compounding the problem of access to capital. Applied technology, especially in the finance and trade sectors, brings the creative freedom of innovation to markets and demographics where traditional solutions are restricted by regulation, leadership, or understanding of the changing needs of businesses.

Having noticed that banks and microfinance institutions were not closing the credit gap nor creating sustainable wealth, we were inspired to take a multi-track approach and offer a combination of capital and business support (such as logistics and warehousing), deep analytics, and alternative risk assessment algorithms. Ovamba specializes in culturally attuned innovations that respond to Africa’s varied ecosystem to fund businesses with the capital they desperately need to grow. We do this via mobile apps and online platforms that efficiently meet the demands of fast-moving small and medium-sized enterprises in ways that banks cannot. As one of the few providers of what we refer to as “tradetech” solutions in the market, we have had a long honeymoon and have now expanded beyond Cameroon into Côte d’Ivoire, with more markets coming online.

To date, Ovamba has funded approximately 270 small businesses with over 22 million euros ($25.4 million). Some of Ovamba’s customers are on their seventh transaction. Some customers have seen their businesses grow almost 450 percent over an 18-month period. Access to global suppliers has brought new diversity of products to the wholesale space. Demand for cocoa financing is up by more than 25 percent. New funding partners have been identified to satisfy this pipeline. Looking ahead, 2019 and 2020 look very promising indeed.

We have great optimism that small and medium-sized enterprise development in commodities exportation will continue to grow, requiring banks to provide more than basic services. At present, banks do not seem to be able to keep pace with the needs of these businesses. Ovamba believes this is an opportunity to innovate alternative risk models and financial services, such as sharia-compliant financing. These innovations are key to unlocking this new asset class. New asset classes along with capital velocity will go a long way to closing Africa’s business credit gap, which by some World Bank reports has continued to increase past $360 billion.

An improved investment environment and private sector performance will attract foreign direct investment into regions with a thriving trade economy. Excited as Ovamba is about having a head start in this new asset class, we realize that ill-informed policies, heavy-handed regulation, and prohibitive taxation could slow our progress and quell the inflow of much needed capital from external investors.

Over the next few years, we will focus on improving literacy and financial awareness in the informal sector because better-educated business owners are a better investment risk. We have created a natural language chatbot that uses African languages to teach business efficiencies to customers who are not “classically” trained in business in order to drive financial inclusion. Designing a paradigm shift for Africans to see finance as  a tool for success is the prize and promise of fintech. Solutions such as ours that use artificial intelligence and behavioral metrics will have the most impact.


In considering areas of risk, instability in Central Africa is of great concern. Cyber security and corruption in Cameroon and its bordering neighbors such as Gabon will require constant vigilance. Also, access to a steady source of blended capital will be required. Our main challenge is and always will be politics and the governments that are afraid of technology, afraid of change, and lack appreciation of the value of Africa’s private sector and growing middle class.

We credit our success to our business philosophy. We do not view Africa’s business challenges as a capital problem, but instead as an ecosystem development opportunity. We answer the problem that is rarely articulated: How can we build wealth and financial freedom for all Africans? The answer: By combining investment, trade, culture, and financial awareness into supply chains and the collective business consciousness.

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In The Next 80 Years, There’ll Be 4 Billion Africans. The Opportunities Are Significant: Investment-Logistics Manager Marvin Cole https://www.ovamba.com/blog/in-the-next-80-years-therell-be-4-billion-africans-the-opportunities-are-significant-investment-logistics-manager-marvin-cole/ Mon, 14 Jan 2019 21:46:43 +0000 https://www.ovamba.com/blog/?p=980 “We hope to turn markets like Cameroon, or the Central African Republic, or Ivory Coast, or many countries into places that are as common

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Douala, Cameroon

“We hope to turn markets like Cameroon, or the Central African Republic, or Ivory Coast, or many countries into places that are as common and easy to invest in as France, or the U.K., or Japan via our systems, which minimize losses, protect investment and create money for everybody involved.” — Marvin Cole (Introvert CEO), Co-founder & CEO of Ovamba

Read his full interview with Moguldon here: https://moguldom.com/…/in-the-next-80-years-therell-be…/amp/

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CATAPULT: Inclusion Africa – Financial Inclusion Bootcamp from the LHoFT https://www.ovamba.com/blog/catapult-inclusion-africa-financial-inclusion-bootcamp-from-the-lhoft/ Mon, 14 Jan 2019 11:33:21 +0000 https://www.ovamba.com/blog/?p=977 Earlier this month, Ovamba was given the amazing opportunity to be apart of the Luxembourg House of Financial Technology‘s CATAPULT: Inclusion Africa program. We were

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Earlier this month, Ovamba was given the amazing opportunity to be apart of the Luxembourg House of Financial Technology‘s CATAPULT: Inclusion Africa program. We were grouped with 13 other Africa focused startups, who showed great ingenuity and world-class focus for Africa. As one of the older startups in the program, we were reminded of how important it is to master the basics and maintain consistency. It also gave us a gut-check of assurance that our decision making is actually quite sound. As founders, it feels “good” to know that you do ‘well’ whilst doing good. Startups get a lot of conflicting advice from so many directions and well-meaning parties. However, you have to find your way and stay the course. Meeting the other CATAPULTERS and seeing how much the African FinTech landscape has evolved was inspiring. Ovamba would like to thank the LHoFT for their support of all the startups in the program and we look forward to all of the synergies between us unfold.

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Ovamba Leads New Financing for Africa’s Commodity Farmers https://www.ovamba.com/blog/ovamba-leads-new-financing-for-africas-commodity-farmers/ Mon, 14 Jan 2019 11:27:30 +0000 https://www.ovamba.com/blog/?p=972 Emmanuel Neossi is so good at his job, exporting cocoa and coffee beans from Cameroon, that some call him “Monsieur Cocoa.” Founded Producam SA

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Ovamba Co-Founder & CEO, Marvin Cole with Co-Founder & President, Viola Llewellyn


Emmanuel Neossi is so good at his job, exporting cocoa and coffee beans from Cameroon, that some call him “Monsieur Cocoa.”

Founded Producam SA in 2012 with just a couple of warehouses in Cameroon’s western region. By 2017, his business was growing so rapidly he could not keep up with demand. He approached Ovamba, a U.S. financing company that helps small businesses like Neossi’s grow, but in a different way than traditional banks.

For full article: https://bit.ly/2RiAJRf

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Islamic Finance News Fintech Landscape https://www.ovamba.com/blog/islamic-finance-news-fintech-landscape/ Mon, 14 Jan 2019 11:19:12 +0000 https://www.ovamba.com/blog/?p=969  Ovamba was featured by Islamic Finance News (IFN) for our involvement in the global Islamic FinTech sector. The IFN Islamic Fintech Landscape is an ongoing global

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 Ovamba was featured by Islamic Finance News (IFN) for our involvement in the global Islamic FinTech sector. The IFN Islamic Fintech Landscape is an ongoing global initiative by IFN Fintech in partnership by Finocracy to identify and map out fintech firms offering Shariah compliant solutions.

For more information: https://ifn.kressol.com/

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Viola Llewellyn TED@BCG Talk https://www.ovamba.com/blog/viola-llewellyn-tedbcg-talk/ Sun, 13 Jan 2019 22:38:25 +0000 https://www.ovamba.com/blog/?p=960 Culturally attuned finance for Africa. Financial institutions in Africa’s business sector don’t have the technology or tools to harness the continent’s potential for wealth, says

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Fintech entrepreneur Viola Llewellyn shares her work pairing AI with local knowledge to create smarter products for the African market. (Photo: Ryan Lash / TED)

Fintech entrepreneur Viola Llewellyn shares her work pairing AI with local knowledge to create smarter products for the African market. (Photo: Ryan Lash / TED)

Culturally attuned finance for Africa. Financial institutions in Africa’s business sector don’t have the technology or tools to harness the continent’s potential for wealth, says fintech entrepreneur Viola Llewellyn, opening Session 3. The continent is made up of thousands of ethnic groups speaking more than 2,000 languages among them, rooted in a long, rich history of cultural diversity, tradition and wealth. “You need a deep understanding of nuance and history,” Llewellyn says, “and a respect for the elegance required to code and innovate [financial] products and services for the vast African market.”

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Chevy Chase start-up Ovamba wants to use ‘Islamic finance’ to connect Africa’s small businesses to wealthy investors https://www.ovamba.com/blog/chevy-chase-start-up-ovamba-wants-to-use-islamic-finance-to-connect-africas-small-businesses-to-wealthy-investors/ Wed, 11 Jul 2018 20:47:27 +0000 https://www.ovamba.com/blog/?p=953 The world’s prevailing financial institutions — banks, credit unions and equity markets — have mostly ignored sub-Saharan Africa. And “microfinance” organizations, while wildly successful

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The world’s prevailing financial institutions — banks, credit unions and equity markets — have mostly ignored sub-Saharan Africa. And “microfinance” organizations, while wildly successful in some parts of the Indian subcontinent, have had mixed results there.

Could a smartphone app that applies principles of Islamic law help fill the gap?

That’s the project being undertaken at Ovamba Solutions, a Chevy Chase, Md.-based company that connects African business owners with wealthy European and American investors. The company operates an app-based investment platform that is based on fees rather than interest, allowing it to steer clear of prohibitions against interest that exist in Islamic law.

Click here for full article https://www.washingtonpost.com/business/capitalbusiness/chevy-chase-start-up-ovamba-wants-to-use-islamic-finance-to-connect-africas-small-businesses-to-wealthy-investors/2018/06/24/b32fa4f0-758c-11e8-b4b7-308400242c2e_story.html?noredirect=on&utm_term=.e91c7499041a

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Ovamba Solutions, Inc. Awarded as Technology Pioneer by World Economic Forum https://www.ovamba.com/blog/ovamba-solutions-inc-awarded-as-technology-pioneer-by-world-economic-forum/ Wed, 11 Jul 2018 20:30:35 +0000 https://www.ovamba.com/blog/?p=943   FOR IMMEDIATE RELEASE   Ovamba Solutions, Inc. Awarded as Technology Pioneer by World Economic Forum   World Economic Forum on Thursday announced its

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FOR IMMEDIATE RELEASE

 

Ovamba Solutions, Inc. Awarded as Technology Pioneer by World Economic Forum

 

  • World Economic Forum on Thursday announced its selection of the world’s 61 most promising Technology Pioneers 2018, the most diverse class of such pioneers ever
  • Companies were selected for their potential to “transform society and industry” and “shape the Fourth Industrial Revolution,” Fulvia Montresor of the World Economic Forum said
  • Ovamba, which has innovated finance and business growth tools for African entrepreneurs has been one of three companies with a specific focus on Africa, and the only one focusing on Cameroon selected for its contributions to helping solve Africa’s challenges with access to financial services and capital
  • The full list of recognized Technology Pioneers can be viewed here

 

Cameroon, June 21, 2018 Ovamba, the award-winning innovator that produced Africa’s’ first “Sharia compliant” ‘FinTech’ and ‘AgriTech’ platforms, was selected among hundreds of candidates as one of the World Economic Forum’s “technology pioneers”.  Ovamba is a ground-breaking company with operations on the African Continent and was founded by Viola Llewellyn and Marvin Cole in 2013.  Their unique approach to helping businesses grow combines a proprietary risk model that blends ethnic and cultural data with traditional risk assessment features that are attuned to African realities.  Customers who come to Ovamba for support are serviced with eCommerce, logistics & flexible warehousing solutions to promote business growth.  In addition, Ovamba’s Natural Language Chatbots give informal businesses in the trade and commodities sector an opportunity to gain access to financial services and business coaching.

The World Economic Forum’s Technology Pioneers community are early-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society.

 

This year’s cohort is the most diverse ever, both geographically and in terms of gender. 25% are female-led, and a majority (54%) come from regions outside the United States and Silicon Valley, with each continent represented, barring Antarctica. There is also a wide variety in the technologies the pioneers focus on: the focus technologies include artificial intelligence, big data and internet of things (IoT), biotechnology, blockchain, autonomous vehicles, cyber security, vertical farming and other agricultural advances, decentralised microgrids and robotics. The full list of technology pioneers can be found here.

 

Following its selection as Technology Pioneer, Co-Founder & President Viola Llewellyn of Ovamba will be participating in the World Economic Forum Annual Meeting of the New Champions. This meeting, also dubbed “Summer Davos” will be held in Tianjin, China, September 18-20. Many Pioneers will also attend the Annual Meeting in Davos, in January 2019, and continue to contribute to Forum initiatives over the course of the next two years.

 

“We welcome Ovamba in this diverse group of technology pioneers,” says Fulvia Montresor, Head of Technology Pioneers at the World Economic Forum. “Ovamba and its fellow pioneers are front and center in shaping the ongoing Fourth Industrial Revolution and we believe they will be transforming society and industry in a positive way in the years to come.”

 

“We could not be more thrilled!  It is truly an honour and the pinnacle of any career to be recognized as a pioneer by the World Economic Forum”, said Ovamba Co-Founder, Viola Llewellyn.  “Technology is making it possible for Africa to be completely included in this Industrial Revolution.  This selection confirms that globally, not just in Africa.  We plan to use this award to continue to shape the ecosystem for socially impactful innovation and engage with stakeholders in government, business and society at large.”

 

The Technology Pioneers were selected by a selection committee of more than 60 academics, entrepreneurs, venture capitalists and corporate executives. The committee based its decisions on criteria including innovation, potential impact and leadership. Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.

 

All info on this year’s Technology Pioneers can be found here: https://wef.ch/techpioneers18

More information on past winners can be found here.

 

About Ovamba: Ovamba is a US-founded technology innovator that develops online platforms and mobile apps to help businesses in Africa’s trade & commodities/agribusiness sectors to grow.  Customers grow when they access & use Ovamba’s combination of short term funding & business tools.  Ovamba raises capital from global investors to fund the businesses and uses its technology to solve business and functional literacy challenges to promote financial inclusion (www.ovamba.com).

 

About World Economic Forum: The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).

 

Media Contacts

Ovamba

Ciana Hamlett

Ciana.h@Ovamba.com

 

 

 

 

 

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Despite gains, most black, female startup founders still get no funding https://www.ovamba.com/blog/despite-gains-most-black-female-startup-founders-still-get-no-funding/ Wed, 11 Jul 2018 20:13:40 +0000 https://www.ovamba.com/blog/?p=940 Viola Llewellyn is one of the few black, female company founders nationwide that has been able to surpass the $1 million venture funding mark.

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Viola Llewellyn is one of the few black, female company founders nationwide that has been able to surpass the $1 million venture funding mark. Her Maryland-based financial technology company, Ovamba Solutions Inc., is backed by about $2 million in equity funding to date, including $1.3 million from an institutional investor, and $9 million in debt financing.

Click here for the full article https://www.bizjournals.com/baltimore/news/2018/06/15/report-despite-gains-most-black-female-startup.html

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A state-of-the-art FinTech company that accelerates small and medium-sized business in Africa https://www.ovamba.com/blog/a-state-of-the-art-fintech-company-that-accelerates-small-and-medium-sized-business-in-africa/ Wed, 11 Jul 2018 19:58:11 +0000 https://www.ovamba.com/blog/?p=937 “Technology is a new form of democracy in Africa” The words of Ms. Viola Llewellyn who entered the first day of entrepreneurial event Slush Tokyo

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“Technology is a new form of democracy in Africa” The words of Ms. Viola Llewellyn who entered the first day of entrepreneurial event Slush Tokyo held at Tokyo Big Sight on March 28 and 29, 2018. The land area of ​​Africa is about 30 million square kilos comparable to 13 countries including the United States, China, India, Britain, France, Germany, Spain and Eastern Europe. In 2040 the population is expected to reach 2.5 billion, of which 1 billion will be concentrated in 67 cities. Meanwhile, as of 2016, the proportion of venture capital’s technology investment in Africa is 0.3% of the world’s total.

Click here to read the full article https://forbesjapan.com/articles/detail/20965

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26 WOMEN OF COLOR DIVERSIFYING ENTREPRENEURSHIP IN SILICON VALLEY, MEDIA, AND BEYOND https://www.ovamba.com/blog/26-women-of-color-diversifying-entrepreneurship-in-silicon-valley-media-and-beyond/ Wed, 11 Jul 2018 18:53:38 +0000 https://www.ovamba.com/blog/?p=932 The business world has long been a boys’ club. Women C.E.O.s and founders of color make up a small portion of entrepreneurs who have reached the

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The business world has long been a boys’ club. Women C.E.O.s and founders of color make up a small portion of entrepreneurs who have reached the top. Each one of the women in this group tableau has raised $1 million or more in outside capital, breaking barriers and shattering glass ceilings along the way. Still, these women (the 26 founders shown here completed their $1 million or more in fund-raising before November 15, 2017, according to start-up accelerator DigitalUndivided) are the most visible faces of a revolution.

Click Here for full article https://www.vanityfair.com/news/2018/03/women-of-color-diversifying-entrepreneurship-in-silicon-valley-media-and-beyond

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Fixing broken business financing in Africa with Ovamba startup https://www.ovamba.com/blog/fixing-broken-business-financing-in-africa-with-ovamba-startup/ Wed, 11 Jul 2018 18:25:03 +0000 https://www.ovamba.com/blog/?p=929 The ability of small and medium-sized businesses to access financing is described as one of the biggest challenges to economic growth in sub-Saharan Africa.

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The ability of small and medium-sized businesses to access financing is described as one of the biggest challenges to economic growth in sub-Saharan Africa. One startup is trying to change the landscape using innovative technology to reach entrepreneurs who would otherwise miss out on funding by traditional banks and credit organisations.

Click here for full article https://en.rfi.fr/africa/20180327-fixing-broken-business-financing-africa-ovamba-startup

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African fintech startups can be disruptors or enablers https://www.ovamba.com/blog/african-fintech-startups-can-be-disruptors-or-enablers/ Wed, 11 Jul 2018 18:12:29 +0000 https://www.ovamba.com/blog/?p=926 Taking part in a panel discussion around bridging Africa’s SME funding gap, Llewellyn discussed the difficulties banks have in innovating and reaching new customers,

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Taking part in a panel discussion around bridging Africa’s SME funding gap, Llewellyn discussed the difficulties banks have in innovating and reaching new customers, and said they had a choice as to whether they are disrupted or enabled by fintech startups. “We will disrupt you if you don’t want to play, but we will enable you if you want to access new customers.” – Viola Llewellyn

Click here for full article https://disrupt-africa.com/2018/03/african-fintech-startups-can-be-disruptors-or-enablers/

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How blockchain can democratise Africa https://www.ovamba.com/blog/how-blockchain-can-democratise-africa/ Wed, 11 Jul 2018 17:54:51 +0000 https://www.ovamba.com/blog/?p=922 Blockchain technology has the potential to “democratise” Africa and take social finance to a new level, yet its potential is being held back by

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Blockchain technology has the potential to “democratise” Africa and take social finance to a new level, yet its potential is being held back by adverse regulation. “Tech will be the new democracy. It will create a level playing field,” said Viola Llewellyn, CEO of alternative lending company Ovamba. “Transparency that has been missing will become normal. Tech and blockchain will create a permanence.”

Click here for full article https://www.itwebafrica.com/fintech/853-africa/243137-how-blockchain-can-democratise-africa

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The Workplace Advocates: 23 women sending the ladder back down https://www.ovamba.com/blog/the-workplace-advocates-23-women-sending-the-ladder-back-down/ Wed, 11 Jul 2018 17:34:25 +0000 https://www.ovamba.com/blog/?p=919 For those women who find themselves in the minority at the top of the corporate ladder, it’s necessary that they send it back down

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For those women who find themselves in the minority at the top of the corporate ladder, it’s necessary that they send it back down for more to join them. ‘I consciously and deliberately support diversity. I look for it where it is banished. I create roles and opportunities for it and I fight for it’ – Viola Llewellyn
Click here for full article https://www.siliconrepublic.com/companies/women-invent-100-2018-workplace

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Women on Top in Tech – Viola Llewellyn https://www.ovamba.com/blog/women-on-top-in-tech-viola-llewellyn/ Thu, 08 Mar 2018 13:16:17 +0000 https://www.ovamba.com/blog/?p=912 (Women on Top in Tech is a series about Women Founders, CEOs, and Leaders in technology. It aims to amplify and bring to the

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(Women on Top in Tech is a series about Women Founders, CEOs, and Leaders in technology. It aims to amplify and bring to the fore diversity in leadership in technology.)

Viola Llewellyn is the Co-Founder and President of Ovamba Solutions Inc. Ovamba is an Emerging markets focused marketplace funding and investment platform. She and the leadership of Ovamba bring an unparalleled understanding of the African market and its nuances to a global audience of institutional investors.

 

Her experience with frontier markets has given her insights into the best way to integrate all players within Africa’s formal and informal banking landscape, and tailor opportunities to Western investor expectations.

Find the full article here: https://www.asianentrepreneur.org/women-top-tech-viola-llewellyn-co-founder-president-ovamba-solutions-inc/ 

 

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Viola A. Llewellyn and Africa’s first FinTech- Written by Lauma Berzina https://www.ovamba.com/blog/viola-llewellyn-africas-first-fintech-written-lauma-berzina/ Mon, 29 Jan 2018 22:04:05 +0000 https://www.ovamba.com/blog/?p=907 Viola A. Llewellyn is the Co-founder and president of award-winning Ovamba Solutions, Inc., Africa’s first FinTech company to create technologies to serve African SMEs

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Viola A. Llewellyn is the Co-founder and president of award-winning Ovamba Solutions, Inc., Africa’s first FinTech company to create technologies to serve African SMEs with innovative Sharia-compliant finance products, eCommerce, and logistics services. Ovamba’s technology gives global accredited and institutional investors the opportunity to invest in the fast-growing African private sector.

In other words, Ovamba provides short-term funding in emerging markets to the trade and commodities sectors.  Ovamba also raises capital from global institutional investors with an appetite for returns in these markets. The company’s goal is to solve the need for democratization of financial services in Africa. It is already acknowledged, that Ovamba is a booster rocket for SMEs in Africa. So, what can we learn from this case? What is the essence here?

 

 

To spot the problems and opportunities

“In Africa, there is plenty of space for innovation, it is a great demographic area, with a lot of tools to be developed to solve some of the most interesting challenges, all of these challenges represent opportunity and return on investment, but nobody seems to want to come there”. Viola points out, that it is about the time to join them because many companies say that they have global exposure, but yet they don’t have anything on the continent of Africa at all. Or they say that they are in Africa, but only in Kenya and the HQ are located somewhere outside of Africa. This really is not how it works for Africa. And neither could it work for other continents in a similar situation.

In fact, Africa is larger than Western Europe, Eastern Europe, China, India, and the United States combined. Africa’s population by 2040 will rise to 2,5 billion people, but the statistics show that the continent has received only 0,3% of global venture capital and Tech investment in 2016. As Viola emphasizes, it is a critically small amount from what Africa needs. So, this is already a great case-study to look at by understanding the issue on a global scale.

To meet Viola A. Llewellyn, and hear more about Ovamba, secure your TechChill 2018 pass now!

Read More: https://techchill.co/viola-llewellyn-ovamba-solutions/

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17 firestarters driving change in the investment monopoly https://www.ovamba.com/blog/17-firestarters-driving-change-investment-monopoly/ Mon, 29 Jan 2018 21:52:04 +0000 https://www.ovamba.com/blog/?p=904 According to SiliconRepublic, “These investors, entrepreneurs, mentors and advocates are blazing a new trail for sci-tech entrepreneurship.” Among these “firestarters” is Ovamba’s Viola Llewellyn.

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According to SiliconRepublic, “These investors, entrepreneurs, mentors and advocates are blazing a new trail for sci-tech entrepreneurship.” Among these “firestarters” is Ovamba’s Viola Llewellyn.

Change takes effort, and it also costs money. While the system supporting start-ups is broken, within its cracks a new breed of investor, advocate and mentor is growing.

There are investors putting their money where their values are and supporting out-of-the-ordinary entrepreneurs and under-represented founders. Alongside them are those who are transforming the typical investment model, as well as the fixers focused on the pipeline problem.

To Read More: https://www.siliconrepublic.com/start-ups/sci-tech-100-2018-investors-firestarters

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6 tips for putting together the perfect elevator pitch By Elizabeth Schulze https://www.ovamba.com/blog/cnbc-6-tips-putting-together-perfect-elevator-pitch/ Mon, 29 Jan 2018 21:39:09 +0000 https://www.ovamba.com/blog/?p=896 For a startup, there are 60 seconds that can make or break you. At last week’s Slush conference in Helsinki, Finland, entrepreneurs from early-stage

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For a startup, there are 60 seconds that can make or break you.

At last week’s Slush conference in Helsinki, Finland, entrepreneurs from early-stage startups to large tech companies agreed the minute-long “elevator pitch” is crucial for getting an investor’s attention.

“We talk about how we’re going to solve a problem, make a lot of money and mitigate risk,” said Viola Llewellyn, co-founder and president of Ovamba Solutions, a financial technology (fintech) company focused on providing short-term capital to small and medium enterprises in Africa.

Llewellyn said she reworked her company’s pitch to focus on what investors want, like growth and risk protection. She said it’s important to highlight why your company is a unique solution to an investor’s problem.

To Read More: https://www.cnbc.com/2017/12/05/six-tips-for-perfecting-the-elevator-pitch.html

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Singapore FinTech Festival Q&A- Viola Llewellyn https://www.ovamba.com/blog/singapore-fintech-festival-qa-viola-llewellyn/ Fri, 01 Dec 2017 03:12:58 +0000 https://www.ovamba.com/blog/?p=885 Singapore FinTech Festival Conference Overview Q&A with Viola Llewellyn, OVAMBA CO-FOUNDER & PRESIDENT Viola Llewellyn, Co-Founder and President of Ovamba Solutions was a  speaker at the

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Singapore FinTech Festival Conference Overview Q&A with

Viola Llewellyn, OVAMBA CO-FOUNDER & PRESIDENT

Viola Llewellyn, Co-Founder and President of Ovamba Solutions was a  speaker at the “Africa”  session which took place on the 3rd day of The Singapore FinTech Festival Conference. The session consisted of entrepreneurs and co-founders of disruptors from funding, to payment service provider, to insurance. During the session, Viola stated that she believes Africa is at the start of the leapfrog effect – it is seen to be gradually accelerating to become an emerging market.

Viola has taken the time to share her thoughts on the Singapore FinTech Festival in a Q&A. Please view below:

CH: What made you interested in attending the festival?

VL: The opportunity to show and explain Africa, and change the narrative.

CH:  What were some of your expectations for the festival?And were they met?

VL:  The festival was managed to the highest levels of professionalism   The agenda was varied but the lack of understanding around the African FinTech market meant that it could have been done better to show the variety and impact.  I expected to meet more investors, but they were not prepared to meet us/Ovamba.  There was a high number of no shows and cancellations.

CH: What was it like being an African Fintech founder there?

VL: It was a GREAT honour but not surprising.  I was the only black female who presented.  I took it as a big responsibility.  3 other African platforms were present: Kudzai Kutukwa, Founder and CEO, Mobbisurance, Sean Emery, Co-founder and CEO, Rainfin, South Africa and Sameer Hirji, Co-founder, Selcom.  It was good to see a variety across a number of solutions to showcase.  More than anything, there was a strong sense of responsibility.  Ground work needs to be laid to continue the narrative and build bridges of opportunity, clarity and understanding.

CH: What were some of perceptions and/or misconception of the African market from others at the festival?

VL: That Africa is “One single generalized place”, that only solutions like charity will work.  It was clear that not as much attention to detail is afforded to Africa and we are an afterthought.  The panel was named, “Africa”.  Just Africa.  And it was the last panel of the entire conference.  We had an audience of about 150 in an auditorium that could hold about 800 – 1000.  The premise of our panel was to discuss “…. the significant progress made in Africa to reshape and adapt financial services” .  This is a misnomer as the very opportunity of FinTech has arisen by the lethargy in the delivery of financial services and the negative impact this situation has had on both consumers and business owners.

CH: Did you feel there was alot of interest in the African market?

VL: Yes – but it is just the beginning   When I toured the exhibition hall many solution providers claimed to be global but had no African presence or plans for one.  One solution provider had a presence in Kenya.  The Asian market is comfortable with English speaking Africa, NOT francophone Africa.  This is an opportunity for technology to bridge the gap to collaboration.

CH: What were some of your key takeaways from the festival?

VL: Ovamba was able to strike the right chord because of existing successful traction with Japanese investors.  I am not sure how easily we would have been able to start conversations.  It was clear that in the same way that we urge investors and collaborators to not look at Africa as one amorphous mass, we must learn and understand the different regions of Asia.  Singapore is a highly sophisticated financial hub – it is not comparable to Myanmar, Vietnam or China.  Success will come from understanding the different regions, cultures and opportunities.

CH: What are some of your thoughts on future relationships between the Singaporean and African market?

VL: Many more visits, relationship and business development are required.  I am also very sensitive to the fact that each business interaction should yield a positive engagement to build a layer of trust and rewarded expectation.

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