A fast growing middle class and a steady growth of mobile phone usage has made Africa a hot spot for business opportunities.
Bambwa felt confident about their business idea, but were aware that they lacked the market knowledge needed to succeed. Fortunately, Business Sweden could provide detailed market analyses and a useful contact network.
With new offices in Ghana, Nigeria and Liberia, and online music stations being launched in 15 markets, the business venture is already a great success.
Bambwa’s ambition to serve Sub-Saharan Africa with a local music streaming service first came to light at the beginning of 2017, and they were keen to move fast.
However, the company’s lack of local market knowledge was a big challenge. “In the beginning, we didn’t actually know anything about our new market,” says Mårten Ohlin, one of Bambwa’s founders.We will always partner with Business Sweden when entering new markets, because it would take longer and cost more if we did so ourselves.
To fill in the gaps, Bambwa took part in Business Sweden's Steps to Export (now offered as a digital program called GoGlobal) and other tailor-made services within the Global Business Development program. The programs are designed to help Swedish companies enter a new market in the quickest and most efficient way, and it paid off, Mårten confirms: “Business Sweden's tools and services were essential when planning our rapid expansion.”
Bambwa also benefited from Business Sweden’s expert knowledge in other ways. “Without Business Sweden’s market analyses and contact network, it would have taken considerably longer to get established in Africa,” Mårten says.
A vital part of Bambwa’s business idea is to cater to local needs, and this is reflected on many levels – from promoting the best local music, to making sure that their service runs with a minimal amount of mobile data.
Bambwa has even developed its own business model called Tempium, a combination of the words “temporary” and “freemium”. The service is funded by advertising and provided free of charge, but users can choose to unlock the premium version during a limited time offer through a quick and easy mobile payment.
Bambwa are not the only entrepreneurs who saw enormous potential for a music streaming service in Africa. However, most of their competitors have not put as much effort into understanding consumer needs, and this has made a huge difference.
By creating a network of changemakers, Bambwa plans to contribute to the creation of strong, modern societies in Africa. At the same time, the company’s ambitions are not limited to the African continent. The coming launch of a web radio network in 15 markets will focus on making Bambwa the primary entertainment channel in the African diaspora around the world.
In other words, many exciting prospects lie ahead, and Business Sweden is looking forward to contributing to Bambwa’s future success.
Founded in 2017, Bambwa has established a music streaming service that serves local needs in Sub-Saharan Africa and the Ivory Coast.
Bambwa has taken the first steps towards establishing itself as a pan-African entertainment and impact company, and aims to build up strong, modern societies in Africa.