Building Trust in Emerging Markets Without Apps

In every market, someone is selling what you sell. But not everyone is building what you’re building. We process food, but processing alone no longer moves the market. In a country like Nigeria, where shelves are packed and attention is short, the game changer is trust. And trust doesn’t come from product alone. It comes from positioning, from story, from experience. Over the years, working in Nigeria’s food processing ecosystem has taught me one thing: people don’t just buy food. They buy peace of mind. That woman in Wuse choosing your ripe banana powder isn’t just buying taste. She’s looking for trust. She wants something safe for her family. If you don’t speak to her reality, someone else will. Start with one thing. Don’t try to be a full aisle in your first year. If your strength is dried fruit, build it. Make it unforgettable, because in crowded markets, focus wins. Don’t sleep on packaging. From Lekki supermarkets to corner stores in Ibadan, your packaging does the talking before you ever say a word. If it doesn’t look like quality, it won’t be treated like quality. Tell your story. Whether you started in a family kitchen or pivoted from frustration with overprocessed imports, share it. People don’t connect with perfection; they connect with truth. Your journey, your grit, your reasons, they matter, share it. Customers today are not just asking what you sell. They’re asking why you exist. And if your WHY resonates, your product gets a seat at their table. Customer service is not an afterthought. In this space, it’s the future for any brand that wants to survive. A delayed order can cost you shelf space. A warm reply can turn a one-time buyer into a brand ambassador. The brands that grow are the ones that follow up, show up, and stay human even as they scale. Let your process speak for itself. Clean facilities, transparent sourcing, safe handling don’t just tell us, show us. Trust in food is built visually. One short behind-the-scenes clip can earn more confidence than ten price discounts. If your egg powder lasts longer without additives, highlight it. If your freeze-dried fruit snacks retain nutrients better, prove it. The best products don’t whisper, they communicate clearly, consistently, and confidently. As you grow, teach through content, packaging, and feedback. Teach your customers how to use your product, store it, and trust it. In this ecosystem, education and information build influence, and influence builds brands. We’ve learned this firsthand. In Nigeria, shelf life used to mean artificial preservatives, but we took a different path, through our unique drying process, we’ve found a way to extend freshness without compromise. No additives, no preservatives, just food that’s safe, nutritious, and proudly processed here at home in Naija. Don’t just aim to be seen. Aim to be trusted. That’s what makes the difference between a product and a business and between a business and a legacy.

Tech can approve a loan in seconds. But can it spot a lie? Everyone’s talking about the “paperless,” “AI-driven” future of lending. I hear it every day from industry leaders. Smooth onboarding, instant credit checks, no messy paperwork—sounds perfect, right? But let’s be honest. That’s not the full story, especially if you’re building for Bharat. At Refinserv, our team is out in rural India every single day. We see the excitement around digital lending, but we also see what algorithms miss. Here’s how it actually goes: → AI scans bank statements → AI checks credit scores → AI runs the numbers and gives you a green light in minutes But AI can’t ask the awkward questions. It can’t read the pause on a phone call, the sidestep in a conversation, or the real reason a borrower wants that loan. That’s where human intelligence steps in—and sometimes saves the day. Real story: A borrower fills out everything perfectly. Great score, strong statements, no red flags. On paper, he’s a dream. But one of our team calls him up. Within five minutes, just by asking the right questions, we discover he’s about to use that loan for risky trading—not the “business expansion” he claimed. No system would have caught that. No app. No AI. That’s why as we expand from North India to the rest of Bharat, we’re betting on a mix: AI for the speed, HI (human intelligence) for the trust. People don’t trust platforms. They trust people who listen, ask questions, and look them in the eye—even if it’s on video. Here’s what I know: → You can automate processes. → But you can’t automate intent. → Trust will always need a human face. So when someone says, “Bharat will go 100% digital,” I just smile. We’re not even close. Not for the real Bharat, where lives change with every loan. Lending will only truly scale when we build for both—AI and HI together. Would you trust an algorithm alone for your most important financial decision? Or do you still want a real person on the other end? What’s your take?

The best pitch isn't a pitch at all. When I’m in emerging markets, most of my time isn’t spent selling. It’s spent teaching. Explaining how venture capital works. Walking through the basics. Sharing what I’ve learned over the years. Here’s the surprising part: this approach works. Really well. When you focus on education, you build trust in a way that no pitch deck ever could. You create real relationships instead of quick transactions. Here’s what I’ve learned: 1. Teaching builds trust. It’s the simplest way to show expertise and respect. When you teach, you create a two-way dialogue. You’re not just talking at someone. You’re meeting them where they are. 2. Relationships are everything. In emerging markets, you’re often starting from scratch. There are no mutual connections. Trust has to be earned over time, and understanding the cultural context is non-negotiable. 3. Context matters. What works in NYC doesn’t always fly in Riyadh. Each market has its own rules and dynamics. Patient, thoughtful education goes further than a hard sell ever could. This lesson applies everywhere… • fundraising • hiring • partnerships • sales • breaking into new markets Sometimes, the best way to make something happen is to stop trying to close the deal. Focus on adding value first. The rest tends to follow.

How Sadashiv Phene Built a ₹1,000 Cr Advisory Business Without Tech, Fees, or Funnels Some people scale businesses with CRMs. Sadashiv Phene scaled with conversations. He’s India’s 5th largest individual MFD, managing ₹1,000+ crore AUM—with zero employees, zero advertising, and zero client apps. Started in 1986. Still meets 6–10 clients a day. Still works weekends. Still believes trust > tools. “I visit all my clients myself. This is a personalised service. I cannot send staff or sell through a computer.” — The Hindu BusinessLine, Nov 13, 2017 So how did he scale without a tech stack? Here’s what he shared in an exclusive interview on Dec 5, 2022, with KS Rao, Aditya Birla Sun Life MF: (Source: Cafemutual, Dec 5, 2022) Client Playbook: • Client Engagement: Meet them where they are. Build trust face-to-face. • Proactive Communication: Head off panic before it becomes redemption. • Continuous Prospecting: Always replace attrition with new relationships. • Empathetic Listening: Let clients teach you how to serve them better. This isn’t soft skill fluff. It’s Phene’s revenue engine. “I test every investment myself before recommending it. If I lose money, I’ll learn. If my client loses, I can’t sleep.” My Takeaways for the Next Generation of Advisors 1. Relationships are your compound interest. Forget scale. Build depth. Scale will follow. 2. Simple scales better than clever. Tools come and go. Client trust compounds forever. 3. Your edge is human. Don’t automate what you should personalize. 4. Show up when others don’t. Weekends. Holidays. Market crashes. Be there. 5. Consistency eats talent for breakfast. 38 years. 7 days a week. That’s the real alpha. Sadashiv Phene built a ₹1,000 Cr business without tech — because he never outsourced what mattered: relationships. This is a masterclass not in sales — but in service. You don’t need leverage to win. You need to stay human in a world gone digital. Sources: • Cafemutual Interview, Dec 5, 2022 • The Hindu BusinessLine, Nov 13, 2017

Trust, not technology, is what moves money. Some markets rely on banks and regulations. Others depend on word-of-mouth, community networks, and personal relationships. If people don’t trust a financial service, they won’t use it, no matter how good the tech is. So how can fintechs bridge this trust gap? Here’s what actually works: 📌 1. Show Up Where Trust Already Exists Not every market trusts digital-first services. Some still prefer human connections. ✅ Leverage agent banking, community-driven referrals, and trusted intermediaries. ✅ Partner with known brands to establish credibility faster. 💡 In many places, trust isn’t built; it’s borrowed. 📌 2. Make Trust Visible Would you keep money in an app you barely understand? Neither will your customers. ✅ Be transparent: Explain fees, security, and decision-making clearly. ✅ Use AI for fraud prevention, not just automation. Customers trust businesses that protect them. 💡 Trust grows when people feel safe and in control of their money. Fintech isn’t just about technology; it’s about who people trust with their money. The fintechs that win don’t just move money faster; they build confidence in every transaction. 📌 How is your fintech earning customer trust in new markets? Let’s discuss! 👇🏽 #FintechTrust #FinancialInclusion #AIinFintech #ScalingSmart #FintechGrowth