Tag Archives: African Entrepreneurs
African Entrepreneurs: Latest News
Peter Pedroncelli, 5:36 am AFKI Original
African entrepreneurs continue to be the a positive influence on economies and communities across the continent, as they strive to make their businesses work and solve problems experienced by fellow Africans. Successful entrepreneurs have a great deal of wisdom to share with others, and often employ revolutionary tactics or a specific mindset in order to bring their ideas to life. Here are 12 revolutionary tactics and mindsets employed by African entrepreneurs in their own words.
Ann Brown, 2:52 pm AFKI Original
Simbarashe Mhuriro has learned that doing business in a country with a bad reputation requires a fighting spirit. Mhuriro founded Oxygen Africa, raising $7 million so far to develop grid-connected solar plants in Zimbabwe. “Every time I step in front of a panel of investors, it’s like stepping into a ring and fighting for your country,” he told AFKInsider. In the process, Mhuriro said he has learned to create his own destiny. “With renewable energy you get to effect change in people’s thoughts and actions.”
Dana Sanchez, 3:50 pm AFKI Original
Trained as a pastry chef, Obado Obadoh learned his craft working for major Kenyan hotel chains. In 2011 he had an opportunity to buy out an existing restaurant. The result is Café Deli, Kenya. His secret to success? “Paying your debts,” he said. “When an investor or a bank gives you their money, just pay it back. They will trust you and help you in future.” Obadoh advises entrepreneurs not to get caught up trying to impress people with things they can’t afford. “I don’t … waste funds trying to live a life that’s not yet mine,” he said.
Kevin Mwanza, 9:43 am
With just about $48 and constant probing from her sister studying in the U.S., Kenyan entrepreneur, Anzazi Kiti, managed to start a successful spices business that generates about $1,600 in revenue per month and employs two people. In an interview with CNBC Africa, Kiti, who’s full time job is an accountant with audit firm Ernst & Young, said she decided to start Taste Afrique, a company that produces natural spice mixes under the brand Chibundiro “that gives food that extra yumminess”.
Julia Austin, 3:33 pm AFKI Original
South African townships are the sites of a thriving informal economy. On some blocks, you’ll find multiple salons and barbershops. Images of P. Diddy, Will Smith and Beyonce are often painted on the walls. They represent African American success stories, says photographer and author Simon Weller, who made a book about township salons and barbershops.
Staff, 5:02 am
“My vision is to see an Africa that is free from poverty. This can only be achieved if we, as business people, take the front role in empowering our people.” This is the view of Farai Munjoma, the 19-year-old social entrepreneur behind a new e-learning platform in Zimbabwe, called Shasha Iseminar. The site offers A-level high school students in the country a free, online library of course and study notes, past exams, as well as career guidance. Munjoma’s inspiration behind starting the platform came while at boarding school in Nyanga, in eastern Zimbabwe.
Kevin Mwanza, 4:53 am
San Francisco-based online payment processing startup, Stripe, wants to make it easier for entrepreneurs from Africa and other developing regions to set up their small businesses in the United States without going through bureaucratic hurdles. Stripe’s new entity named Stripe Atlas will help foreign entrepreneurs from Africa, Latin America, the Middle East and parts of Asia, incorporate their companies in Delaware and get bank accounts in the US that will help them accept payment globally.
Staff, 3:43 am
While some liken a “youth bulge” to a curse and a source of social unrest, others see a youthful dynamic population as a massive untapped opportunity. Catalyzing the next generation of African entrepreneurs, Tony Elumelu has launched the Tony Elumelu Foundation Entrepreneurship Program (TEEP) and seeded this initiative with $100 million of his own money.
Staff, 8:14 pm
As director of U.S.-based investment firm Village Capital, Ross Baird works with entrepreneurs around the world. The firm invests in social enterprises that solve global problems. African entrepreneurs have a harder path to success than those in any other region, Baird says. They see opportunities where others normally wouldn’t. It’s about survival.
Kevin Mwanza, 9:29 am
Ineffective patent laws in Africa are keeping investors from supporting local innovators leaving them to struggle with their ideas that eventual collapse due to lack of funding. Heavy legal costs, arbitrary red-tape procedures and mismatch in legislation has made it difficult for many African inventors to patent their products making it even harder for them to sell these products on the international market,
- Real Estate