[Startup Interview] Olayemi Bamisile, Co-Founder, Byngo Investments, Liberia
Byngo Investments offers access to financial services that are found around the globe to Africans who do not have access to the same tools.
Among the key services that the Liberia and United States-based startup offers include financial modeling, business planning, capital budgeting, business evaluation, forecasting and bookkeeping. Olayemi Bamisile the co-founder elaborates.
Introduce your company
Byngo Investments is a financial services firm that specializes in primary and secondary market investments, and corporate finance.
Currently we are offering services such as financial modeling, business planning, capital budgeting, business evaluation, forecasting, bookkeeping, and other services.
The company was officially founded in 2018 and is domiciled in both Liberia and the United States. Most of our services are offered globally. The founders of the firm have experience working with BNY Mellon, The Vanguard Group, J. P. Morgan and more.
We have worked on several projects ranging from agriculture to technology and have successfully raised funds for new business ventures.
Who are Byngo Investments founders and what are their backgrounds?
Olayemi C. Bamisile a dual citizen of Nigeria and the United States of America and Winston B. Smith a dual national of Liberia and USA.
Olayemi is a Nigerian-American but has always clung to Nigerian heritage. If you ask her what she is Nigerian will be the first answer. She studied finance and has worked for The Vanguard Group, The Bank of New York Mellon and other entities. Winston is Liberian and he has an MSF in finance. He has worked for J.P. Morgan, The Vanguard Group and several other entities.
How is your company financed?
The core of the company is outsourced financial services. The core business was funded by the owners. Subsidiaries such as our charcoal business we successfully raised equity funding for.
In your opinion, what trends have shaped the financial services sector?
In Liberia there is not a great deal of variety in the financial sector. There is a lack of understanding surrounding the value of financial services. There is also unique opportunity to illustrate this value and increase the playing field. In America there is a lot of saturation within the industry, however there are niches where one can stand out.
Why did you start Byngo Investments? What opportunities did you see?
We started our business to provide access to financial services that are found around the globe to Africans who do not have access to the same tools. For instance we provide financial modeling and business planning, which is one of our strongest areas. In Liberia most businesses and even investment proposals do not have the level of structure and depth that we provide in our work. We believe that our services can help build a more economically sound Africa.
What problem or problems does Byngo Investments solve?
Through our financial services we clearly illustrate the potential value added of projects, new businesses and new products among others. We also provide valuations and other key financial information. This resolves the problem of seeking funding or deciding on the viability of making investments through displaying, sales levels, costs, breakeven points, metrics and other vital data. This information is not only helpful for the client, but also for external users who may be seeking to invest or provide funding. Essentially we take ideas and make them into concrete proposals.
What makes Byngo Investments stand out?
Our ability to forecast, and model financials is our strong suit. We also provide venture seeking services, other companies may not have the expertise, or cannot follow through from the base of idea to the implementation of funding. We offer very reasonable pricing whereas many large firms who can provide similar services charge enormous fees.
Who forms your client base?
Our target customer is small medium and large businesses who are looking to grow and expand their business. We accept clients from all around the globe in any industry and we especially welcome clients with business connected to Africa.
What does Byngo Investments need in order to grow?
In order for our business to continue to grow we need to continue to illustrate the value that our services provide. Once clients understand that our services give them more power to negotiate when seeking funding and in transparency regarding their financials, their testimonials will bring more clients in the door.
What is your growth strategy?
Historically we have worked with word of the mouth advertising mostly. Our newer strategy is to preach the value of our services.
In which markets are you looking to establish your presence?
Our goal is to grow across the entire African continent. We currently operate in Liberia and the USA, with a physical presence in these two countries.
What are your plans for the coming 12 months?
We have several projects and internal investments that we are making. We would like to expand our client base and establish a notable footprint in the countries that we operate from.
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