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African Business StoriesAuthor: Akaego Okoye
African Business Stories is the go-to podcast for insights into the women shaping Africas business landscape. Africa is one of the worlds most promising frontiers for growth and innovationand women are at the heart of this transformation.Hosted by Akaego Okoye, this podcast spotlights female entrepreneurs who are breaking barriers, scaling businesses, and driving economic development across the continent. Through bold conversations, we explore funding, scaling strategies, digital transformation, and industry innovationsequipping you with insights, practical tools, and inspiration to navigate your own entrepreneurial journey.When women win, economies thrive. These stories amplify success, challenge narratives, and create a blueprint for the next generation of female leaders in Africa and beyond.Subscribe now and be part of the movement to champion women in business! Language: en-us Genres: Business, Business News, Entrepreneurship, News Contact email: Get it Feed URL: Get it iTunes ID: Get it Trailer: |
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Chioma Okotcha-Faloughi: Co-founder and COO Rivy - Hard Stops, Bold Restarts: Rebuilding After Setbacks
Episode 8
Tuesday, 3 June, 2025
Resilience takes on new meaning in my conversation with Chioma Okotcha-Faloughi, Co-founder of Rivi (formerly PayHippo), whose entrepreneurial journey embodies the grit required to build transformative businesses in Africa.Chioma never planned to become an entrepreneur. With her computer science background and experience spanning finance, policy, and education, she initially saw herself driving change through government channels. But a chance conversation about Nigeria's credit access problems led to co-founding PayHippo in 2019, where they moved from concept to customers in just weeks. After completing Y Combinator and raising $4 million, they were supporting thousands of small businesses with crucial financing.Then came the storm. A devastating fraud attack combined with the departure of both co-founders pushed the company to the brink. "I had investors ask why I didn't just walk away," Chioma reveals. Her decision to stay and fight – while managing a newborn at home – ultimately led to one of Africa's most remarkable business pivots. Recognizing Nigeria's energy crisis following subsidy removals, she transformed the company into Rivi, financing clean energy solutions for businesses across the country.What makes Chioma's story particularly powerful is her transparency about the darkest moments. From letting go 60% of her workforce to months without paying herself, she shares the painful realities rarely discussed in entrepreneurship circles. "Before this, I was just a nice tech founder. After hitting rock bottom, I became a fully certified entrepreneur," she laughs. Her advice to women building in Africa resonates deeply: "Stay the course, don't give up too soon, drill deeper."Whether you're an entrepreneur, investor, or simply fascinated by Africa's business evolution, this episode offers rare insights into building purpose-driven companies that survive existential threats. Follow Rivi's continuing journey at @RiviHQ and subscribe for more stories of African business innovation.ABS WEBSITE: www.africanbusinessstories.comABS INSTAGRAM: https://instagram.com/afribizstories/LISTEN/FOLLOW/SUBSCRIBE: Apple Podcast | Spotify |Youtube
