Failing To Win

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In 2009, Canadian entrepreneur Mike Quinn moved to Lusaka, Zambia, to find scalable, high-impact African businesses. He discovered two South African brothers who created a service for unbanked smallholder farmers to receive mobile payments in a cash-dominated market. After persuading his retired parents to mortgage their home for $100,000, Mike co-founded Zoona and served as CEO for nearly a decade. Together with his partners, he established a network of over 3,000 entrepreneur agents in Zambia and Malawi, facilitating $2.5 billion in money transfers for millions of unbanked consumers. Headquartered in Cape Town, Zoona raised over $35 million in venture capital and became a key player in Africa's fintech landscape. Mike's journey offers an honest look at pioneering a startup amid challenges like currency crises, investment collapses, and fierce competition from major mobile operators. His experiences reveal the essence of purpose-driven entrepreneurship, emphasizing the importance of resilience in the face of failure. This account is a must-read for aspiring entrepreneurs and those feeling isolated in their journeys, showcasing how tenacity and learning from setbacks are integral to achieving success.