Episode overview:
Prince Nwadeyi spent years providing market research that unlocked South Africa's R600 billion (~USD 34.4 billion) informal economy for blue-chip clients. The likes of Swiss Re, Liberty, NASPARS all wanted the insights. Few wanted the execution risk.
In conversation with Andile Masuku, Nwadeyi explains why his holding company SAG Ventures stopped selling insights and started building businesses. From Mustard Finance Group (formerly Setana Capital) providing working capital to township spaza shops (micro convenience stores), to Purchase Pal embedding funeral cover into everyday groceries, Nwadeyi's ventures share a common thread: aligning incentives across entire value chains whilst playing a longer game than quarterly-focused corporates can stomach.
His journey from UCT postgrad researcher to operator deploying millions in credit with a claimed 99.9% repayment rate offers a masterclass in strategic patience and the power of granular consumer understanding.
Key insights:
- On why insights alone don't create impact: "We realised that some of the executives were not willing to take the risk, not for any risk of their own, but really just how the incentive structure set up within corporate." Nwadeyi discovered that knowing differently doesn't translate to acting differently when bonuses hang in the balance. The solution? Stop asking permission and build the innovation yourself.
- On aligning incentives to unlock impossible markets: Working capital finance to informal retailers seemed impossible until Nwadeyi mapped the ecosystem. Wholesalers wanted more sales but couldn't offer credit. They did have transaction data. "Can we build a technology solution that interprets that data at scale to enable unique insight that traditional finance institutions don't have access to?" The result: finance the stock purchase to the wholesaler, the SME repays over 14 days, everyone wins. One of their spaza shop clients recently scaled from one store to three and bought her first house for R1 million (~USD 57,400) cash.
- On thinking in decades whilst executing in months: "You don't have to think in days. You have to think in decades." Purchase Pal (what Nwadeyi claims to be "the world's first FMCG-embedded funeral insurance") represents one piece of a five-year strategy spanning multiple financial services verticals. The long game enables patient execution whilst maintaining corporate relevance. "What's my exit point? What's my entry point? Am I wanting to build this alongside?"
- On why research beats assumptions every time: A tearful interview during his MPhil research - a woman describing the humiliation of borrowing money to bury her mother whilst neighbours gossiped about her poverty - sparked the Purchase Pal concept. "What if we could unlock quote unquote, what I call, no cost insurance?" Years of ethnographic research revealed the margin structure in FMCG goods, the cost burden of traditional insurance intermediation, and the customer stickiness problem facing consumer goods manufacturers. Research made the impossible obvious.
Notable moment:
The pivot from consultant to operator: Walking through a Cape Flats township, Nwadeyi's co-founder encountered a spaza shop owner struggling for financing. "All I ever wanted to do is to feed myself, feed my family or feed my business." That human story, repeated across thousands of township retailers, shifted SAG from insight provider to solution builder. Traditional finance wouldn't touch these operators. Nwadeyi's team reportedly deployed over R100 million (~USD 5.7 million) and achieved 99.9% repayment rates.
Image credit: SAG Ventures
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Episode overview:
Prince Nwadeyi spent years providing market research that unlocked South Africa's R600 billion (~USD 34.4 billion) informal economy for blue-chip clients. The likes of Swiss Re, Liberty, NASPARS all wanted the insights. Few wanted the execution risk.
In conversation with Andile Masuku, Nwadeyi explains why his holding company SAG Ventures stopped selling insights and started building businesses. From Mustard Finance Group (formerly Setana Capital) providing working capital to township spaza shops (micro convenience stores), to Purchase Pal embedding funeral cover into everyday groceries, Nwadeyi's ventures share a common thread: aligning incentives across entire value chains whilst playing a longer game than quarterly-focused corporates can stomach.
His journey from UCT postgrad researcher to operator deploying millions in credit with a claimed 99.9% repayment rate offers a masterclass in strategic patience and the power of granular consumer understanding.
Key insights:
- On why insights alone don't create impact: "We realised that some of the executives were not willing to take the risk, not for any risk of their own, but really just how the incentive structure set up within corporate." Nwadeyi discovered that knowing differently doesn't translate to acting differently when bonuses hang in the balance. The solution? Stop asking permission and build the innovation yourself.
- On aligning incentives to unlock impossible markets: Working capital finance to informal retailers seemed impossible until Nwadeyi mapped the ecosystem. Wholesalers wanted more sales but couldn't offer credit. They did have transaction data. "Can we build a technology solution that interprets that data at scale to enable unique insight that traditional finance institutions don't have access to?" The result: finance the stock purchase to the wholesaler, the SME repays over 14 days, everyone wins. One of their spaza shop clients recently scaled from one store to three and bought her first house for R1 million (~USD 57,400) cash.
- On thinking in decades whilst executing in months: "You don't have to think in days. You have to think in decades." Purchase Pal (what Nwadeyi claims to be "the world's first FMCG-embedded funeral insurance") represents one piece of a five-year strategy spanning multiple financial services verticals. The long game enables patient execution whilst maintaining corporate relevance. "What's my exit point? What's my entry point? Am I wanting to build this alongside?"
- On why research beats assumptions every time: A tearful interview during his MPhil research - a woman describing the humiliation of borrowing money to bury her mother whilst neighbours gossiped about her poverty - sparked the Purchase Pal concept. "What if we could unlock quote unquote, what I call, no cost insurance?" Years of ethnographic research revealed the margin structure in FMCG goods, the cost burden of traditional insurance intermediation, and the customer stickiness problem facing consumer goods manufacturers. Research made the impossible obvious.
Notable moment:
The pivot from consultant to operator: Walking through a Cape Flats township, Nwadeyi's co-founder encountered a spaza shop owner struggling for financing. "All I ever wanted to do is to feed myself, feed my family or feed my business." That human story, repeated across thousands of township retailers, shifted SAG from insight provider to solution builder. Traditional finance wouldn't touch these operators. Nwadeyi's team reportedly deployed over R100 million (~USD 5.7 million) and achieved 99.9% repayment rates.
Image credit: SAG Ventures
Adapt or Be Left Behind: Marie Lora-Mungai on AI and the Future of African Filmmaking
African Tech Roundup
29 minutes 26 seconds
7 months ago
Adapt or Be Left Behind: Marie Lora-Mungai on AI and the Future of African Filmmaking
Meet Marie Lora-Mungai, expert advisor in African creative industries and sports business and founder of Restless Global - whose 20-year journey from CNN journalist to production company founder to industry advisor gives her a unique vantage point on Africa's creative economy.
In thought-provoking conversation with Andile Masuku, Lora-Mungai makes a compelling case for African filmmakers to stop seeking funding for traditional productions and instead leverage AI tools to create content independently.
Episode overview:
The discussion stems from Lora-Mungai's viral Linkedin post warning African filmmakers about AI disruption. She points to a jarring disconnect: while some creators are still trying to raise millions for conventional productions, others are creating professional-quality content using AI tools on a laptop. The conversation explores how this technological shift is redefining what it means to be a filmmaker in 2025 and beyond.
Key topics:
- The widening gap between traditional film projects and AI-enabled production
- How AI tools are eliminating conventional barriers to content creation
- The shift from specialised roles to comprehensive creative vision
- Why traditional fundraising may be obsolete for many productions
- The changing landscape for talent, especially voice actors and performers
- Emerging regulatory needs for protecting creative identity in an AI world
Notable points:
1. Many Nollywood filmmakers are not yet leveraging AI, though the first AI-themed movie releases this month in Nigeria
2. Independent filmmakers Hussain Sambal are creating professional-quality content using AI with minimal resources
3. Lora-Mungai advises creators to "build in public" rather than spending time seeking traditional funding
4. AI tools are making traditional film specialisations like editing and visual effects increasingly obsolete
5. Blockchain and Web3 technologies may become essential for tracking and monetising creative assets in an AI-dominated landscape
Be sure to listen out for a particularly candid moment when Masuku reveals he recently turned down offers from companies wanting to replicate his voice using AI, and Lora-Mungai's forthright response about the inevitability of this transformation.
Here's a link to Marie Lora-Mungai's inciting Linkedin post: https://www.linkedin.com/posts/marieloramungai_african-filmmakers-we-need-to-talk-about-activity-7312399340570918912-uVie?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAGwgRYBG52bgfG6IE0hzny7wKy24y4L_74)
Image credit: Restless Global
African Tech Roundup
Episode overview:
Prince Nwadeyi spent years providing market research that unlocked South Africa's R600 billion (~USD 34.4 billion) informal economy for blue-chip clients. The likes of Swiss Re, Liberty, NASPARS all wanted the insights. Few wanted the execution risk.
In conversation with Andile Masuku, Nwadeyi explains why his holding company SAG Ventures stopped selling insights and started building businesses. From Mustard Finance Group (formerly Setana Capital) providing working capital to township spaza shops (micro convenience stores), to Purchase Pal embedding funeral cover into everyday groceries, Nwadeyi's ventures share a common thread: aligning incentives across entire value chains whilst playing a longer game than quarterly-focused corporates can stomach.
His journey from UCT postgrad researcher to operator deploying millions in credit with a claimed 99.9% repayment rate offers a masterclass in strategic patience and the power of granular consumer understanding.
Key insights:
- On why insights alone don't create impact: "We realised that some of the executives were not willing to take the risk, not for any risk of their own, but really just how the incentive structure set up within corporate." Nwadeyi discovered that knowing differently doesn't translate to acting differently when bonuses hang in the balance. The solution? Stop asking permission and build the innovation yourself.
- On aligning incentives to unlock impossible markets: Working capital finance to informal retailers seemed impossible until Nwadeyi mapped the ecosystem. Wholesalers wanted more sales but couldn't offer credit. They did have transaction data. "Can we build a technology solution that interprets that data at scale to enable unique insight that traditional finance institutions don't have access to?" The result: finance the stock purchase to the wholesaler, the SME repays over 14 days, everyone wins. One of their spaza shop clients recently scaled from one store to three and bought her first house for R1 million (~USD 57,400) cash.
- On thinking in decades whilst executing in months: "You don't have to think in days. You have to think in decades." Purchase Pal (what Nwadeyi claims to be "the world's first FMCG-embedded funeral insurance") represents one piece of a five-year strategy spanning multiple financial services verticals. The long game enables patient execution whilst maintaining corporate relevance. "What's my exit point? What's my entry point? Am I wanting to build this alongside?"
- On why research beats assumptions every time: A tearful interview during his MPhil research - a woman describing the humiliation of borrowing money to bury her mother whilst neighbours gossiped about her poverty - sparked the Purchase Pal concept. "What if we could unlock quote unquote, what I call, no cost insurance?" Years of ethnographic research revealed the margin structure in FMCG goods, the cost burden of traditional insurance intermediation, and the customer stickiness problem facing consumer goods manufacturers. Research made the impossible obvious.
Notable moment:
The pivot from consultant to operator: Walking through a Cape Flats township, Nwadeyi's co-founder encountered a spaza shop owner struggling for financing. "All I ever wanted to do is to feed myself, feed my family or feed my business." That human story, repeated across thousands of township retailers, shifted SAG from insight provider to solution builder. Traditional finance wouldn't touch these operators. Nwadeyi's team reportedly deployed over R100 million (~USD 5.7 million) and achieved 99.9% repayment rates.
Image credit: SAG Ventures
