The Tony Elumelu Foundation (TEF) is calling on all aspiring African entrepreneurs seeking to turn their business dreams into reality to apply to the TEF Entrepreneurship Programme (TEF2024), for the opportunity to receive a non-returnable seed capital of $5,000.  

A Legacy of Empowering Entrepreneurs 

Since its inception in 2010, the Tony Elumelu Foundation has been at the forefront of empowering African entrepreneurs, and since the launch of its flagship Entrepreneurship Programme, the Foundation has partnered with numerous organisations to support entrepreneurship across the continent. These partnerships include collaborations with the International Committee for the Red Cross (ICRC), the United Nations Development Programme (UNDP), Sémé City, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and many others. Partnerships with regional and international organisations pave the way for collaboration and strategic networking, enhancing market access for entrepreneurs across Africa. 

In 2021 alone, the Tony Elumelu Foundation disbursed an impressive $24.75 million to 5,000 African entrepreneurs, making it one of the largest private sector responses to the economic challenges faced by African youth, women, and SMEs in the wake of the COVID-19 pandemic. Notably, beneficiaries of the programme have collectively created over 400,000 direct and indirect jobs, contributing significantly to the economic recovery and development of the continent. 

Testimonials: Voices of Impact 

The impact of the TEF Entrepreneurship Programme goes beyond statistics; it transforms lives and businesses.  

Here are a few testimonials from entrepreneurs who have experienced the transformative power of the programme: 

1. Paul Depooter Kabeya 

• Business Name:  KPD Technology Pty Ltd
• Country: South Africa 
• Impact Area: Upskilling and Women’s Economic Empowerment

Paul’s Testimonial

Paul Depooter was passionate about impacting his community and how he could bring a positive way of attaining financial freedom to the most vulnerable in South Africa. 

“I wanted to change the mindset of the African, by not looking at jobs as the only way of surviving but to believe in their own ability in order to let their talents express themselves into manufacturing of garment and fashion accessories made in Africa by Africans.” 

Paul believes the TEF program did not only bring a financial boost to his business but has been a game changer in terms of personal development. Through the garment and fashion accessories he makes in South Africa, he has empowered 20 women who, through their businesses, can use their skills to make a difference in their respective communities in South Africa.   

“Through the TEF Entrepreneurship program, networking has been the most valuable opportunity I have explored in this journey. I have been able to meet with different entrepreneurs learning from them to see things differently.” 

Paul believes the only way to enable gender balance in his society is to upskill the women and empower them to become independent. Through his fashion line, he produced not only garments but tailors and female fashion designers. 

2. Freddie Shava 

• Business Name:  African Heritage Clothing 
• Country: Ghana 
• Impact Area: Poverty alleviation for young people through training and employment 

Freddie’s Testimonial

“My vision was to create wealth and social impact for Africa which l could not do while full time employed. l could only earn a living for myself and family on a full-time job but without impacting the wider community. l measure success on social impact-profitability model. First impact then profit later”.

So far, the enterprise has impacted 120 youths, trained and released to start their own business. They currently employ 20 workers directly. They service a client base of over 120 corporate clients buying from them through local production for import substitution.  Also, they have generated revenues of $600,000 over a six-year period. In line with their business model, they have created more impact than profitability, but are on course to wealth creation now with the business more stable and readying itself for expansion to expand the market to AfCFTA. Currently, they are serving the local market in Ghana and their strategy is to go for the intra-Africa business back riding on AfCFTA. 

“We (AHC) have created a name for ourselves as a leading producer of uniforms in fulfilment of our tagline “The Uniform People”. We are known for quality and efficiency. On the back of this our business comes through referrals (indirect opportunities) from satisfied customers without much advertising. The bulk of our business comes from indirect opportunities which builds our success.” 

Freddie Shava has attributed the successes of his business to the training and mentoring he received on the programme. 

“The training was a game-changer for me as it equipped me with the necessary skills to survive the business turbulence for example the Covid-19. Without the training and the grace of God l would not have survived Covid-19. Training and mentorship is important for upstarts. The USD5,000 was a bonus to support my start-up. Training first – capital later. This matches my business model of impact first – profitability later. TEF really put me on the right path and changed my life. Thank you TEF. Thank you, boss Tony.” 

3. Mechi Amaah

• Business Name:  Black and Natural Cosmetics
• Country: Cameroon
• Impact Area: Production of organic and eco-friendly cosmetics

Mechi’s Testimonial

After losing her father in his early life, Mechi Amaah had to look after pigs and sell them under her mother’s supervision to provide for their necessities. Upon getting to the university, she did business selling various things to make ends meet and decided to settle on manufacturing and selling hair products solely.

Mechi founded Black and Natural Cosmetics, a 100% organic cosmetic manufacturing company aimed to encourage the consumption of organic hair cosmetics, initially and subsequently, skin cosmetics. To join environmental protection and sustainable development, Black and Natural Cosmetics derives all its ingredients from plants, some of which are organically processed. 

Mechi Amaah was about expanding his business when COVID-19 pandemic hit the world and everywhere was under lockdown. However, the seed capital she got from the foundation enabled her to diversify and employ 2 more workers, thereby saving her business from liquidation. Coupled with the training received on the programme on business management, she has been able to take her business to another level and created a high level of impact in her community. 

“The training the program offered, helped me to keep tabs on my mission, vison and most importantly, my finances. Ever since the program, I can proudly say the books of my businesses are in order.” 

Since getting the grant, she has employed 4 more staff to help with her business and now has 7 employees working directly under her. Also, her annual revenue has increased by 70%, with her opening two other companies and awards to her name.  

“To give back to my community, i have created jobs and am currently working on an accelerator program to train young girls with vocational training skills that can enable them gain employment or start up their own business. This will go a long way to reduce unemployment in my community and country.” 

These testimonials showcase the tangible and lasting impact of the TEF Entrepreneurship Programme, demonstrating its effectiveness in empowering entrepreneurs across Africa. As the Programme considers its future, it is poised to continue changing lives and catalysing economic growth. Be part of this transformative journey—apply now for the 2024 Entrepreneurship Programme and unlock the potential within you! 

A Glimpse into the Future: Coalition for African Entrepreneurs 

Looking ahead, the Tony Elumelu Foundation is set to enhance its commitment to empowering African entrepreneurs. In a groundbreaking move, the foundation has announced its Coalition for African Entrepreneurs. This initiative aims to support 100,000 young African entrepreneurs, including 50,000 women, by 2033. The focus will be on fragile states, women’s entrepreneurship, and green entrepreneurship. 

The Tony Elumelu Foundation’s Coalition for African Entrepreneurs invites collaboration from development agencies, the private sector, philanthropic organisations, and governments, reinforcing its role as a leading philanthropy dedicated to eradicating poverty, catalysing job creation, and increasing women’s economic empowerment. 

Assessing TEF’s Impact: A Resounding Success 

To assess the Programme’s impact, expert researchers focused on its contribution to local entrepreneurship ecosystems across Africa and the UN’s Sustainable Development Goals. The analysis demonstrated that the TEF Entrepreneurship Programme was highly effective at providing multi-sector support to diverse groups of new entrepreneurs, addressing barriers such as funding and knowledge. Findings suggest that TEF and its partners are successfully providing inclusive, multi-sector support that maximizes the potential of African entrepreneurs, regardless of sector. 

As the Programme considers its future, there is a renewed focus on sustainability and policy advocacy. The emphasis is on finding the best ways to allocate funding, ensuring the continued success of the TEF Entrepreneurship Programme and its pivotal role in empowering the next generation of African entrepreneurs. 

Apply Now for TEF2024 – Seizing the Opportunity:

As the flagship TEF Entrepreneurship Programme nears the end of its 10-year lifespan, it is an opportune moment to reflect on the organization’s remarkable accomplishments. The Tony Elumelu Foundation, building on this success and its robust delivery process, will deepen its commitment to reach across sectors and geographies to identify and support young African entrepreneurs, targeting female empowerment and growth in fragile states, through its soon-to-be-launched Coalition for African Entrepreneurs. 

Apply now and be part of a transformative journey towards entrepreneurial success! 

About The Tony Elumelu Foundation


The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and ensuring inclusive economic empowerment. Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed nearly USD$100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.

The post Empowering African Entrepreneurs: Apply Now for $5,000 in the 2024 Tony Elumelu Foundation Entrepreneurship Programme  appeared first on The Tony Elumelu Foundation.

The Tony Elumelu Foundation (TEF) has given $2 million to nearly 400 entrepreneurs in Rwanda as seed capital.

The global ambassadors praised the Foundation’s great impact in Rwanda and all 54 African countries.

The TEF is a famous charity founded by Mr. Tony O. Elumelu, a respected and influential business figure. The foundation operates with the primary objective of empowering and supporting African entrepreneurs in their journey towards success and economic development.

One of the key ways in which TEF achieves its mission is by providing seed capital to aspiring entrepreneurs. TEF provides money to help entrepreneurs start their businesses and make their creative ideas come true.

In addition to financial assistance, the foundation also offers mentorship programs to its beneficiaries. Through these programs, experienced and successful entrepreneurs provide guidance, advice, and support to the emerging business owners. This mentorship is important for entrepreneurs to overcome business challenges and complexities, improving their chances of long-term success.

TEF’s commitment to empowering African entrepreneurs extends beyond just financial support, mentorship, and training. The foundation also fosters a vibrant and dynamic community of entrepreneurs, facilitating networking opportunities and collaboration among its beneficiaries. This community-driven approach encourages knowledge sharing, idea exchange, and the formation of valuable partnerships, further enhancing the prospects of success for African entrepreneurs.

The foundation has given $2 million to nearly 400 entrepreneurs in Rwanda to help them start their businesses.

The foundation’s work extends beyond Rwanda and has had an extraordinary impact across all 54 African countries. The global ambassadors, including Amb. Cui Jian Chun, Chinese Ambassador to Nigeria, and Amb. Christophe Bazivamo, Rwandan Ambassador to Nigeria, have praised the foundation’s efforts and its contribution to entrepreneurship in Africa.

More pictures with the global Ambassadors below:

People often highlight the foundation’s initiatives with hashtags such as #EmpoweredByTEF and #TEF2024.

The post Global ambassadors: Back-to-back meetings with Tony Elumelu appeared first on The Tony Elumelu Foundation.

The post Selected Tony Elumelu Entrepreneurs for 2021 appeared first on The Tony Elumelu Foundation.

The United Nations Economic Commission for Africa (ECA) convened sector champions in various industries to be a part of a Regional Business Forum in Lagos structured around high-level meetings and consultations with youth and women in the West African business ecosystems.

In her keynote address, Ifeyinwa emphasised the Foundation’s commitment to foster gender inclusion, through the gender mix of our workforce, mentors, and TEF alumni.

Ifeyinwa commented:

“The reason our Entrepreneurship Programme is arguably the most ambitious Youth focussed Pan-African entrepreneurship programme on the continent is because it is a direct response to the transformation Africa needs. It a programme that is sector and gender agnostic; a programme that recognizes the equal potential of us, as Africans.  Women make up 58% of the continent’s self-employed population. Yet they seldom get the recognition they deserve for their role in sustaining local economies/informal industries. They also do not receive the appropriate support they need to take their businesses to the next level. Some of the challenges faced by women in Africa and youth come from lack of access. Access to networks, funding, and market linkages.”

Recognized as the leading philanthropy committed to empowering the growth of women and youth entrepreneurship, as well as linking them to quality markets and dedicated support:

“Although we launched the programme, we knew that a sustainable digital infrastructure was needed to support the lifespan of these business.  As a continent, we cannot afford to miss the fourth industrial revolution. The COVID-19 pandemic has demonstrated the immense value in digital connectivity. If you are not connected, it’s almost like you do not exist. That’s the problem African women and African entrepreneurs face, and it’s one that governments across Africa must tackle immediately. We need an immediate, massive rollout of connectivity and cheap access to the internet across every village, town, and city.”

She also illustrated the Foundation’s holistic approach to empowering African entrepreneurs through training, funding, mentorship, and resource mobilization. Touching on the immeasurable value of TEFConnect.com in supporting African entrepreneur, Ifeyinwa said:

“On our end, we are contributing to digital upskilling and capacity building around digital entrepreneurship through our digital infrastructure, TEFConnect.com. TEFConnect is the largest online network of African entrepreneurs who are interested in connecting with key players from the larger ecosystem of investors, business leaders, etc.  The platform empowers young entrepreneurs to build investible businesses by training and mentoring, provides them with easy access to market, and connects them with other African Entrepreneurs and ecosystem players.”

Ifeyinwa touched on the main thrust of the Regional Business Forum, which was focused on how support for the socio-economic empowerment of women and the youth will be essential to achieving socio-economic transformation across the continent:

“When we first started the programme, our goal was to achieve 50% women’s participation, and we began at 25%. Today, we’re at 40%. This year, the Foundation will fund over 3,000 women owned businesses across the continent. This will not be possible without some of our partners who believe that women, when empowered, can contribute to socio-economic prosperity.

How can Africa harness its demographic dynamics for sustainable development?

It is by empowering our younger demography, knowing fully well that the future belongs to them, and we owe them the support require to define it in a manner that guarantees prosperity. It is by teaching a woman how to fish, and not giving her fish, or giving her male counterparts the fish to hand out whatever he can afford to her.”

The post Ifeyinwa Ugochukwu’s Keynote Speech at the West African Business Forum appeared first on The Tony Elumelu Foundation.

How thorough was the TEF Entrepreneurship Programme application process and how did it prepare you for this opportunity?

The application process during my year 2019, was very direct and I completed it in a day. I was also lucky to be among the 3,000+ out of 216,000 applicants who were selected for the grant and free mentorship and later for the TEF forum that occurred in Abuja, Nigeria.

How useful was the training component in helping you better understand your business, market, and financials?

It was very useful. I can gladly say that going through the process diligently gives one a solid beginner entrepreneurship foundation that they can build on. The weekly tasks are as intentional as they can be, giving an overall polishing to the mind of the entrepreneurs. This is especially useful for entrepreneurs like myself coming from a scientific background.

How did you find the TEF mentoring process and what guidance, direction did the TEF Mentor give you and your business?

I had a huge boost by my mentor who gave me that moral support to think to myself: well, I can do it! And sometimes that is the most difficult step: believing that you can.

Following receipt of $5,000 from TEF, you have now secured funding of $240,000 from a VC based in Silicon Valley. Using your own personal experience, what practical steps do you recommend for entrepreneurs seeking funding?

Know your business, have the passion for it, and know why you do what you do. Investors want to be sure you can make money, so you must make your business model as clear as possible, and you must have a good team to work on the vision and goals. The team as well as how you plan to achieve your goals, is as important as the vision!

On celebrating international day of the youth, what policies do you think should be in place for Youth advancement on the continent?

In the past couple of years, we have seen what Nigerian youths are capable of doing, most especially in the Tech industry, the traction has been globally celebrated. To foster more growth, I believe focus should be on policies that can create an enabling environment for investors, most especially, early-stage investors, and for start-ups to thrive, knowing they have the backing of the government to go out there and succeed. In areas where ambiguity is high, e.g., crypto and blockchain, a board between the leading youths in the space and the government should be setup so both can work hand in hand to establish favorable regulations to both the economy and the startups making effort to foster the economy.

What advice will you give to your 2021 Tony Elumelu Foundation Entrepreneurship Programme cohort?

Simple: learn, not because you want the grant at the end, but because this is an important stage in your entrepreneurship journey, and you can easily build the initial foundation you need to go out into the world from here. Always think long-term, and it is fine to change business, to rebrand, ideas aren’t written on stones, what is not okay, is to quit!

Read more about Mario’s Seed Funding journey here.

The post How TEF Alumni, Mario Egie, secured $240,000 funding for his start-up appeared first on The Tony Elumelu Foundation.

Every entrepreneur is familiar with the feeling of trepidation just before taking the leap to begin a new business or become an entrepreneur: Do I have what it takes? Is it worth it? How do I start?

Getting through this stage usually requires validating ideas and exploring to understand more about their industry and product.

In this interview with the Tony Elumelu Foundation, Botswana entrepreneur Nametso Matlhaga, a 33-year-old young female entrepreneur with a decade of experience in jewelry, manufacturing, and retail in Botswana, shares her journey to becoming an entrepreneur in Africa.

Career Influences

Nametso loves to work on her own own terms, bringing her vision to life in order to create her own legacy. She grew up in a family of 3, surrounded by entrepreneurs, working under her uncle who had a jewelry business which I grew up working under during my school breaks.

“At the age of 18, I started off my first business which was a construction business. The business was making money but it was challenging to deal with both my employees and clients as I was relatively young and newly started an independent business,” she says.

Nametso later made the switch from construction to establish her own jewelry manufacturing business. “It has now been 10 years since I ventured into Matthan Jewlery, my jewelry business. I have always wanted to work in a sector that is dominated by men, that has been a great motivator to pursue and grow as an entrepreneur. From way back, I have known most of the jewelers to be men, so I wanted to change that record especially in my country and in Africa that also women can venture into jewelry manufacturing. I love my work though it does not allow me to do my nails.”

Getting into the TEF Entrepreneurship Programme

Nametso tells the story of how she met an alumni of the Foundation Mavis Nduchwa. In 2017, Mavis who was also selected for 2015 Cohort, was talking to entrepreneurs about the opportunities the Programme affords entrepreneurs in Kasane. It was here Nametso decided to try her luck, after which she made it to the 2018 cohort.

“I successfully completed the 2018 Tony Elumelu Foundation Entrepreneurship training programme. It has been an amazing journey for me and I benefited so much from the training. A lot of it has to do with financial discipline, branding, personal branding, marketing and more on networking. Since the TEF experience, I am more opened minded. I am mentoring young Botswana who are doing extremely well in their businesses and some of them where selected for TEF program in 2019.”

“At the TEF Forum, I loved the pitching competition though I am quite a shy person, but it was amazing to see how young people in Africa have so much to offer to our continent and it took one man’s dream to actually see that and put it out there for the world to see. Young Africans are talented, they are a full package. I am strongly for entrepreneurship, women empowerment, mentorship, and a believer in positive thinking.”

Overcoming Challenges Encountered

As the effects of the Covid-19 pandemic reverberated across the world, she decided to learn and embrace the challenge brought upon by the effects of lockdowns and changes to what was “normal”. “We have been actively growing our social media platforms and mobilizing for online sales which is one area we intend to grow over this season.”

Some of the challenges I had was capital to grow the business, which I got through the Tony Elumelu Foundation. Having the right entrepreneurial skill was a challenge and such knowledge and skills are fundamental to running a successful business. The TEF entrepreneurship program was fundamental to giving not just the funding, but the entrepreneurial skills and knowledge to execute a successful business.

Milestone

Nametso is expanding business operations in Botswana, and says they are increasing output and successfully meeting market demand.

“We have successfully registered our business in Nigeria which we have focused to operate by June 2021.”

“My plan is to have two more branches within Botswana by 2021 and one operating in Nigeria. Though we are successfully selling nationwide via online sales couriers we see potential in increased sales by having additional branches.”

Impact

Matthan Jewlery currently has 5 employees. Other than employing members of their locality, Nametso also actively mobilizes entrepreneurs in her locality to apply for the TEF Entrepreneurship Programme, with 4 candidates who successful enrolled and benefitted on the 2019 program.

“I have learnt that patience is paramount to making your goal and vision a reality. Through the experience I have gained over my entrepreneurial journey, my mind has been open to so many opportunities around us and how to smartly engage myself and the resources around me to get things done.

My advice to young people and other aspiring entrepreneurs is that we are well capable. We can indeed make it through entrepreneurship, our economies need us, Africa needs us and you owe it to yourself to become everything you ever dreamt of being.”

The post Taking the Leap into Entrepreneurship appeared first on The Tony Elumelu Foundation.

It has been predicted that by the next decade, more than 50% of all jobs around the world will be STEM-based (Science, Technology, Engineering and Mathematics). Newsflash: It’s already happening! In the midst of lockdowns and social distancing brought on by the pandemic, we all relied exclusively on technology to stay connected to our employers, colleagues, associates and loved ones. Health-care workers continue to remain at the forefronts, supporting and caring for millions, while scientists are hard at work testing, finalising and rolling out vaccinations for public use.

Indeed, if the pandemic has taught us anything, it is that the future is undoubtedly stem-based and it’s imperative that the future generation prioritise and lean into STEM education.

Meet 2019 TEF Entrepreneur from Tunisia, Haythem Dabbabi, whoin this interview, shares how his company, Evocraft, is helping young children and adults become more familiar with STEM, robotics and software programming using fun non-traditional approaches. So far, they have taught and impacted over 200 children.

On changes made so far since the start of Evocraft:
It was a huge change for us going through the Tony Elumelu Foundation Entrepreneurship Programme. Before the programme, we just had a concept, which was just finding the robot, but during the programme, we found multiple services to explore with the robot itself. The TEF seed capital combined with the very important advice from the training helped us implement these new additions.

As a result of the TEF coaching, we have also made significant changes to our business model and operations – This has helped us essentially expand to more schools and sell more robots everywhere. 

Our future plans include expanding more on the national territory, to reach more schools.

On what motivates and drives him

I will say in a nutshell, seeing the change across Africa that we are driving using the robots. Because, what drove me to start creating robots in Africa was seeing developed countries use certain technologies for children, and I wondered why we did not have such in our own countries.

I saw the potential in our countries and after I started, I saw how much really changed and the opportunities it gave to those kids. It initially started like that but now, it’s like my purpose in life is to help other people’s development skills.

On key elements for starting and running a successful business
Understanding your customers’ needs, that’s the most important and the key that will help you succeed in your business.

Once you understand what your customers really need, and you meet that need with your product or service, you will be successful.

On who inspires him
Elon Musk. He has very crazy ideas and when he tells people he would do something, he would do it! And, that’s a very important thing.

On the most rewarding part of running his business
The passion. Waking up in the morning and really having fun every day.
 
How he encountered TEF

I found the TEF page on Facebook and started reading about it and I applied and gladly I was accepted, and it helped us a lot to grow.
 
On Support received
We usually were focused on the technical aspects more than the commercial arm of the business and that changed a lot during the TEF Programme. At the programme, we got a lot of ideas and perspectives we weren’t thinking about before.

On what he hopes to see happen soon for small businesses in his country

Taxes. If you are working in the technology field, you would need to pay a lot of taxes. We usually don’t have a culture of working on technology products in our country and we are just starting now, so some rules need to be adjusted for people like us. One of those is taxation, especially in my country.

Advice to other entrepreneurs who are just starting out
I would say believe in yourself, even when other people don’t believe in that project.

I know a lot of entrepreneurs that have started a project, and in the middle of that project, they keep hearing it’s not going to work. Once they abandon that project, they see other people working on the same project and succeed.

You don’t want to hear “people”, you want to hear your customers and the market. If the market refuses it, you need to change something. If the market accepts, it is telling you that you need to work hard on it.
 

Current Project(s)
Right now, we are working on something called TechBus.

It’s an initiative where the Techbus goes to rural areas to teach kids about software development and programming. We are focusing a lot on teaching STEM to girls in those regions because a lot of girls in there, don’t finish schooling.

We discovered that most of the girls are passionate about technology and they most likely understand even better than those in other areas that have more advanced technology. So, we started this initiative one month ago where we go to different schools in those underserved areas to see what we can change, and how we can give more opportunities to those kids around there.

On Future Plans
I hope we get to be on an international level. We hope to be in all the African markets–we have been engaging people in Egypt, Morocco and we have few contacts also from Nigeria to initiate partnerships in order to sell our robots there.

The post “My purpose in life is to help other people’s development skills,”- Haythem Dabbabi appeared first on The Tony Elumelu Foundation.

If success is the goal, then it can be said that perseverance is the engine. Few individuals are able to achieve great things without first overcoming the obstacles that stand in their way.

Many individuals who decided to set out on their own are familiar with the hardest part of entrepreneurship, which is continuing to work on an idea once the initial excitement of launching a business has worn off.

Perseverance in Entrepreneurship

While genius and creativity are important and celebrated especially in the ideation phases of the product building phase, perseverance is that quality that is needed for the work and the reiterations that are inevitable to successfully arrive at the desired point.

In this interview, the Tony Elumelu Foundation talks with Paul Nyambe, Zambian entrepreneur and 2018 TEF Beneficiary​. Paul tells us about his company Zamgoat, an innovative, market-driven, and socially-inclusive Zambian agribusiness, supporting rural livelihoods with the processing and distribution of quality goat products and services.

Paul’s Growth

For Paul, a lot has changed, and his agribusiness has grown over the years in terms of production capacity, market penetration and its impact on small holder farmers. “At the time that I participated in the TEF Entrepreneurship Programme in 2015, our business was quite small,” he says. “We were just over 18 and had sales of $12,000. Now, we bring in sales of $40,000 on the average in annual revenue.”

Running a Successful Business

“I think starting begins with understanding who you are, your realities and what you want out of your life. In my case, it was identifying who I was at the time when I started Zamgoat in 2012, the economic environment within the country and, the gap in the market.”  Paul points to Aliko Dangote’s success as a businessperson as an inspiration to him, and reflects on how perseverance enabled him to keep working on his business.

“It is one of the key elements of running a business,” he says. “Running a business does not happen in a straight line; you do not always get it right from the start, so you need to be patient, you need to have better agility to fight on when things don’t work according to plan, and you need to have a long-term view.”

Reaping Business Rewards

Most businesses take a loss until they break-even. For Paul, it is about the freedom to determine his own economic destiny. “Running my own business, besides enabling me to take care of personal needs, also gives me the best opportunity to create for the future,” he says.

“It is also the fact that I’m able to help other people through my business. We are now uplifting the lives of small holder farmers in rural areas of Zambia.”

Small and medium businesses require great support to be able to succeed, and Paul tells us that to be able to keep his business afloat, entrepreneurs need to have a good metric to judge the people they add to their teams and circles, and they also need to understand the entrepreneurial ecosystem around. “As an entrepreneur in this part of the world, you may need to look beyond the traditional scope of financing, where traditional banks do not seem to be friendly to small businesses.”

Just Starting Up

To enable a more conducive environment where businesses drive economy, governments must put more effort in developing policies to champion local enterprise development.

“It is important to note that business is the most sustainable way to generate development in the economy,” Paul says. “Whatever business you’re into, you need to look beyond yourself, your self-interest, and start a business with the point of view of also generating social or environmental impact. That way, even when you hit a rough patch, the motivation keeps you going. I think it is time entrepreneurs shift the focus from business as a means of profit to business as a means of generating social impact.”

The Future of Zamgoat

Where does the future of Zamgoat lie? Paul believes there is a huge potential for Zamgoat to be recognised as a peer in the industry, and to grow the world over. “Where I see Zamgoat in the next few years is to be the king of the goat industry in Zambia and the world.”

The post “Perseverance is one of the key elements for running a business,” – Paul Nyambe appeared first on The Tony Elumelu Foundation.

What does your business do and how do you differentiate yourself from your competitors?

Bliss Yoga Accra is one of the few full-service yoga studios in West Africa. Offering group/private yoga classes, as well as yoga teacher certifications and stress relief programs, Bliss Yoga Accra has been credited with popularizing yoga in Ghana. Additionally, being one of the few African, woman-owned established studios, Bliss Yoga Accra stands to change the  

narrative on the accessibility and face of yoga.  

Why did you decide to start this business?  

I started the business after moving back to Ghana from New York City. As an avid practitioner who has personally benefited from yoga as an integral part of my life, I hoped I could reach others.  

How does technology play a role in driving your business successes?  

It allows us to be proactive towards future business opportunities, rather than being reactive. Based in an urban location, the studio really benefits from the diverse clientele that come to see us from across Accra and all over the world. The app/registration database that we use has enabled us to track interests specific to certain yoga classes and the popularity of various wellness programs.  

How do you ensure business continuity? If you had to step aside for years, how would business continue running?  

Building a solid base of practitioners who know and understand your vision for the business is key. I continue to align with and collaborate with such individuals on key aspects.  

How has the current pandemic affected your business processes, and how does technology impact this?  

The current pandemic has been a pivotal moment in Bliss Yoga Accra’s business life. For example, having to shift our 200-HR yoga teacher training, to solely online in April, pushed us to get creative about our training offerings. It drove our ability to scale through this period and continue operations. Additionally, venturing into an outdoor class format has also been a positive shift.  

It is easy to get caught up in the hype of new products and technologies. What are some things you consider when aligning your technology roadmap with your overall business strategy?  

What I consider is whether the technology will add growth, or simply, complicate operations. No technology is one size fits all. We learned quite early, that our technology roadmap, should be well-tailored. 

What were the problems you faced when you were starting up, and how did you resolve them?  

When I started, the key challenge was building a diverse teacher base to accommodate the demand for classes. We resolved this by getting out into our wellness community and aligning with practitioners who were looking to grow their teaching skills, and be part of something magical. 

What are your expansion plans for your company in the next 2-5 years?  

Our plans are to stay consistent with our current offerings and plan to facilitate more advanced teacher trainings. 

If you had the chance to start over again, what would you do differently?  

I would seek out funding opportunities, earlier. I believe a lot of entrepreneurs, shy away from certain funding potential because they think it’s “too early” and they are not ready. It’s never too early.  

What’s on the cards for the rest of 2020 and 2021? Any exciting projects underway?  

This year we are keeping it simple – continuing to align momentum around the brand, and stay the course through this pandemic.  

The post Yoga Studio Owner, Nana Amoako-Anin, Shares Ways Technology is Driving Traffic to Her Business in Ghana appeared first on The Tony Elumelu Foundation.

What does your business do and how do you differentiate yourself from your competitors? 

We are a digital platform connecting property owners who have idle parking spaces to companies and individuals who need parking. How we are different is that we know our customers better than our competitors. We’ve spent a good amount of time doing some design thinking to build our product which empathizes with our customers’ needs. 

What were the problems you faced when you were starting up, and how did you resolve them? 

We made the mistake of building the product before understanding the problem, which we had to pay school fees for by being stumped by industry barriers to entry and non-receptive clients. Once you identify the problem, it will be easier to build a product that customers want to use. We’ve also made some costly co-founder hires in the past which we were able to solve by having the correct controls in place i.e shareholder agreements etc. 

What were the problems you faced when you were starting up, and how did you resolve them? 

We made the mistake of building the product before understanding the problem, which we had to pay school fees for by being stumped by industry barriers to entry and non-receptive clients. Once you identify the problem, it will be easier to build a product that customers want to use. We’ve also made some costly co-founder hires in the past which we were able to solve by having the correct controls in place i.e shareholder agreements etc. 

How does technology play a role in driving your business success? 

We do all work digitally – from our marketing through social media to operations using online platforms such as Trello. Our working arrangement has been remote since inception of the company so, when COVID-19 came along, we did not struggle. 

How do you ensure business continuity? If you had to step aside for years, how would business continue running? 

Business continuity is based on the timing and other external factors of the business. Timing has been the biggest factor in our business. Pre-COVID-19, our timing was impeccable and now that we are here, we have had to rethink our business because many people have been working from home and not necessarily using their cars.  

At the same time, COVID-19 has been changing consumers/corporate property usage patterns where they are now demanding more flexible terms. We are now adding other types of property on our platform to cater for this new changing need. 

We are using our existing network and technology infrastructure to add more features to our platform so we can cater to the flexible office space market. We also had a slight detour in our business operations to raise brand awareness by providing drive-in cinema experiences with our property owners. 

It is easy to get caught up in the hype of new products and technologies. What are some things you consider when aligning your technology roadmap with your overall business strategy? 

I’ve always encouraged the team to focus on solving the problem and keep our eye on it as much as we can. Tech is cool but it’s even better when we are solving a problem. In terms of road mapping, we first consider the problem using the design thinking tools to carefully map out what we are dealing with. Then the design and user experience, while the business development team comes up with growth hacking and sales strategies.

What are your expansion plans for your company in the next 2-5 years? 

To be honest, it is hard to say – we are still doing research, speaking to customers and some advisors but also observing the market. There’s a lot of uncertainty now in the world but we are constantly refining our plans with new light of information.

If you had the chance to start over again, what would you do differently? 

Speak to people who are potential customers and ask what they would pay for. There’s a lot of invaluable insight that you can gain from just listening instead of bombarding everyone with your ideas. 

What are you looking forward to for the rest of 2020 and 2021? Any exciting projects underway? 

I’ve been featured on Mail & Guardian 2020 Top 200. We are planning to test our new platform, which includes both parking and flexible space via https://www.troob.space/ . Exciting stuff! 

The post Founder Parkupp, Palesa Moloi, shares the Mistakes She Made in Business appeared first on The Tony Elumelu Foundation.