Rwanda's 2021 Investment Code allows all foreign investments without screening or restriction of amount or sector, granting foreign investors national treatment. It introduced angel investor incentives including capital gains tax exemption on share sales for investments up to $500,000. No other jurisdiction combines this regulatory openness with the existing WfWI NGO partner relationship and WOAM expedition history. The first portfolio companies should be Rwandan cooperatives. Start deploying here before any other geography is activated.

M-Pesa penetration exceeds 82% of Kenyan adults — the highest mobile money penetration in Africa — processing over $50 billion in annual transactions. Kenya's investment law is open, its Companies Act is familiar (common law), and its cooperative sector is well-established. The WOAM expedition history includes Kenya. Kyrgyzstan has better cooperative law scores but loses on mobile money, repatriation, and political risk. Kenya should be geography two.

Nepal's minimum foreign investment threshold of NPR 20 million (approximately $150,000) is 100 times larger than the largest individual investment in the WOAM Capital model. The IT sector exemption does not apply to community kitchens, savings groups, or repair collectives. A locally-incorporated Nepali subsidiary — capitalised at the minimum threshold — is the only legal path. This is a 3–6 month structural task. Nepal cannot be a proof-of-concept geography. It is a Year 1 expansion after the local entity is in place.

Both score in the deploy-now tier. Ghana ranks fifth on the African continent by startup deal volume. Senegal's account ownership surged 70 points between 2011 and 2024 — the largest increase globally alongside Kyrgyzstan. Both have mature mobile money infrastructure, stable investment environments, and strong women's cooperative sectors under OHADA law. These are not reasons to expand immediately, but naming them as Year 2 geographies in the pitch strengthens the scalability narrative.