Episode 206 – Africa Growing Faster Than China: $600M Fund Manager’s Thesis | Richard Okello
Podcast episode
Episode 206 – Africa Growing Faster Than China: $600M Fund Manager’s Thesis | Richard Okello
Join host Richard Cunningham as he sits down with Richard Okello, founder and managing partner of Sango Capital, at the 10th Anniversary Lions Den in Dallas, Texas. Richard shares his remarkable journey from a chicken arbitrage business in Uganda at age 12 to becoming a partner at Bridgewater Associates and ultimately founding one of Africa’s premier institutional-grade investment firms.
All opinions expressed on this podcast, including the team and guests, are solely their opinions. Host and guests may maintain positions in the companies and securities discussed. This podcast is for informational purposes only and should not be relied upon as specific investment advice for any individual or organization.
Episode Notes
Richard Okello’s investment thesis for Africa centers on a fundamental shift that most investors are missing: Africa’s growth rate has nearly converged with China’s, driven by internal dynamics rather than external factors. As founder of Sango Capital, Richard manages nearly $600 million across private equity, venture capital, and private credit in carefully selected African markets.
From his early days at Bridgewater Associates (where he helped grow assets from $700 million to over $100 billion) to founding Sango Capital, Richard explains why faith-driven investors should consider Africa for both commercial returns and kingdom impact. The conversation covers currency stabilization, political risk evolution, and the critical minerals opportunity that extends far beyond traditional commodities.
Richard vulnerably shares how his 12-year-old chicken arbitrage business in Uganda sparked his passion for emerging market opportunities, and how divine appointments—from scholarships to career timing—positioned him to build one of Africa’s premier institutional investment platforms.
CHAPTERS
00:00 Introduction: Lions Den 10th Anniversary
01:32 Richard’s Bridgewater Journey: $700M to $100B Growth
03:30 The Divine Appointment Scholarship Story
08:35 Why Richard Returned to Africa: The Beijing Revelation
11:23 Sango Capital Thesis: Excellence in African Markets
12:45 Africa vs China Growth Convergence
15:32 Risk Perception Reality Check: Political and Currency
18:27 Investment Focus: Private Equity, Venture, Private Credit
21:19 African Institutional Capital: The 1985 US Parallel
22:57 Why Faith-Driven Investors Should Consider Africa
25:21 Psalm 23 and God’s Provision for Anxious Investors
