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Wambu Muigai- Creating Realisable Value For African Businesses

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Wambu Muigai is the co-founder and Managing Director of Andaa Capital, a management consulting company based in Nairobi, Kenya with specialty in Management Consulting, Corporate Finance, Market Entry, Business Development, etc. with over 11 years of experience spanning business advisory, investment banking(M&A and equity capital markets across various industries), private equity, consulting and entrepreneurship all within SSA. In this e-Interview with Alaba Ayinuola, he believes that the greatest impact is giving as many people as possible access to employment and entrepreneurship opportunities Africa. Excerpts.

 

Tell us about Andaa Capital and the role you play? Especially it’s mission and vision?

Our vision is to grow African world-class businesses and we aim to achieve this by building the preferred African integrated investment platform. Put simply, we want to be the go-to platform for early stage high growth potential African companies looking to scale, as well as for investors looking to invest in Africa. “Andaa” means “prepare” in Kiswahili and that is exactly what we do with our clients through a blend of management consulting, corporate finance and business development. I am a co-founder and the Managing Director of the business.

 

What was your startup capital and how were you able to raise it?

My partner and I started with a vision, our experience, our laptops and co-working space and therefore did not need much startup capital. We have bootstrapped the business, ploughing all revenues back into the business while keeping a keen eye on managing costs. We did however spend a relatively significant amount on our branding as a startup, as we wanted to build strong brand equity right from the start.

 

Why is Andaa Capital different from other management consulting firm in Kenya?

We did not necessarily set out to be different from other players, we set out to be true to ourselves and authentic in our approach to clients. For us that means truly listening to and respecting our clients, building long-term mutually beneficial relationships that are well aligned and having the integrity to admit when we are not best placed to address the immediate challenges our clients face. In other words, our culture places great emphasis on the “softer” aspects as we believe the more technical aspects are commodity-like and therefore easier to replicate.

 

What are the challenges and how are you overcoming them?

Perhaps our biggest challenge is our target market’s ability to pay, despite being willing to after seeing the value in the services we offer. We know that identifying and establishing relationships early with tomorrow’s winning companies will pay off, however we need to remain viable in the interim to get there. We are dealing with this challenge by seeking out very strategic collaboration opportunities within the ecosystem that allow us to stay true to our vision and strategy, as well as keep the lights on long enough to enjoy the upside.

 

What advice would you give potential entrepreneurs who intend to start a business or invest in Africa.

Think long and hard about what level of sacrifice you are willing to make for the business you want to start before taking the plunge. It is a tough environment with a number of systemic challenges and things tend to take longer to pan out than expected. However there is massive untapped potential and those with the agility, creativity and persistence to navigate the challenges stand to reap great upside.

 

Where do you see your business in 5 years and what steps are you taking in achieving them?

As mentioned we want to be the go-to platform for early stage high growth potential African companies looking to scale, as well as for investors looking to invest in Africa. We believe that having a collaborative approach is key to achieving this and we are therefore establishing strategic relationships and partnerships with various players within the ecosystem. We are also working very hard to really understand the needs of our clients and seeking out innovative ways to address their challenges on the path to scaling up. Our culture is very important and we are focusing on institutionalising it as much as we can in order to attract great talent with the right fit that will achieve great things.

 

How is your business contributing to the development of Africa?

We believe that the greatest impact is giving as many people as possible access to employment and entrepreneurship opportunities. The more companies we manage to scale up, the more opportunities for employment and entrepreneurship along the respective company value chains. This then has the knock-on effect of stimulating demand for other goods and services.

 

What inspires you and keeps you going?

My strong desire to build a business that outlives me and continuously reminding myself that this entails the mindset of a marathon and not a sprint keeps me going. Meeting and interacting with people from different backgrounds, with diverse perspectives, working in different sectors and where possible hearing their story really inspires and energises me. Lastly and most importantly, wanting to open up a world of opportunity for my family fuels my ambition.

 

How do you relax and what books do you read?

I recharge through spending quality time with my family and friends, which also keeps me grounded. I love to listen to a broad range of genres of music and also really enjoy an intense game of squash as often as I can. I especially like books that tell the stories of successful people and speak honestly to the good, the bad and the ugly aspects of their journey. Some great recent reads include Shoe Dog, The Hard Thing About Hard Things and The Power of Broke.

 

Wambu Muigai Bio:

I co-founded Andaa Capital to pursue my great passion for building realisable value for African businesses, through leveraging experience in looking at companies through the eyes of an external advisor, investor and in-house executive.

I have gained a multi-perspective view through experience spanning investment banking (Renaissance Capital), private equity (Progression Capital Africa), in-house corporate finance (MODE Group) as well as various consultancy roles. My experience spans multiple industries including Banking, Fintech, Agri-business, Telecommunications, Fast-Moving Consumer Goods and Real Estate across various countries in Sub-Saharan Africa.”

Wambu holds a BSc. International Securities, Investment and Banking honours degree from the ICMA Centre, Henley Business School, University of Reading.

 

Kindly Visit: http://andaacapital.com/

Afripreneur

Uko Sokoni is bringing East Africans closer to the global marketplace for goods – Munwangari Cynthia

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Munwangari Cynthia is the founding member and Director of Marketing of Ukosokoni. A Ugandan logistics & supply chain company, specializing in e-logistics (ecommerce) and retail arbitrage. In this e-Interview with Alaba Ayinuola, she speaks on how her brand is working towards being the number one e-commerce player in Uganda with a foot Print In Nigeria, Ghana, Kenya, Tanzania and Rwanda. And bringing East Africans closer and closer to the global marketplace for goods. Excerpts.

 

Tell us about your business and the role you play?

Uko Sokoni, founded in 2018, is an ecommerce platform that brings online shopping to Ugandans. Ukosokoni.com makes available for purchase in and delivery to Uganda those products available on the International market but that the likes of Amazon and eBay do not deliver to most African Countries. Ukosokoni.com also curates and displays the best of African Products, whether they be African Garb, Ornaments or Arts and crafts for purchase by the rest of the world.

I am a founding member of Ukosokoni and Director of Marketing.

 

What was your startup capital and how were you able to raise it?

Our Start Up capital was 100,000$ which we raised from the savings of the three founding members.

 

What are the challenges and how are you overcoming them?

There does not seem to be much of a place for runners up in the market of Tech based companies. Our biggest challenge is to place ourselves in the number one spot.  The Key Success Factors in the e-commerce industry can be found to be embedded in Logistics, Marketing and Technology.  Luckily for us, we have an edge over the players who had the first mover advantage; two of our founder’s have successful international Logistics businesses and the marketing strategy that I drive, is yielding very good results. We may just be on our way to that number one spot sooner than later.

 

Where do you see your business in 5 years and what steps are you taking in achieving them?

We intend to be, in 5 Years, the number one e-commerce player in Uganda with a foot Print In Nigeria, Ghana, Kenya, Tanzania and Rwanda. We have no doubt that our value proposition will sooner than later help us achieve our goals in Uganda.  We are aggressively seeking Local partners in the markets (of Nigeria, Kenya, Ghana, Tanzania and Rwanda) who share our values and vision whom we can work with to achieve our goal of diversifying geographically.

 

How is your business contributing to the development of Africa?

We believe that Ukosokoni.com is helping deepen African Markets for goods and services and further connect Africans to the rest of the world. Moreover by assimilating into Africa new technologies from the western world, we are helping fasten the economic convergence forces however small our contribution.

 

What’s your view on the development of Africa business ecosystem?

I believe that Africa is the next frontier of economic development driven by the migration of Foreign Direct Investment (FDI) fleeing the rising cost of labour in South East Asia. The African business Ecosystem will continue to grow in size and deepen in complexity as wealthy countries continue to see Africa as a viable alternative to East Asian countries in terms of outsourcing their production and manufacturing.

 

What advice would you give potential entrepreneurs who intend to start a business or invest in Africa.

Opportunities abound; do and dare!

 

What inspires you and keeps you going?

Knowing that Ukosokoni will be the best online shopping company in the region in the next five years!

 

How do you relax and what books do you read?

I meditate and talk to myself! I read everything related to politics.

 

Visit: https:ukosokoni.com

 

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Sahara Foundation Empowers 30 Entrepreneurs To Mark World Entrepreneurship Month

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Beneficiaries of #StartUpNation photographed with the organizers in Lagos, Nigeria.

 

November is celebrated globally every year as the Entrepreneurship Month. It is a period to celebrate men and women who brave all odds to take smart risks in business – an informed leap in the dark if you will – to create value.

StartUps are gaining traction across the globe as more people continue to embrace the challenge of carving a niche for their business ideas. Particularly noteworthy and deserving of commendation are the young people who have taken the bull by the horns by starting, running and sustaining businesses in climes with peculiar economic challenges.

Sahara Group is delighted to celebrate these heroes who would ultimately emerge as icons and business leaders.

Having spent the month of November showcasing innovative business solutions by entrepreneurs across various sectors, Sahara Foundation organized an Entrepreneurship Workshop to help beneficiaries lay a solid foundation for their businesses.

Themed StartUp Nation, the one day workshop hosted 30 young entrepreneurs to five transformative sessions with accomplished professionals and entrepreneurs as facilitators. The entrepreneurs who were selected via the Foundation’s digital platform for young innovators and entrepreneurs – www.saharahub.com – were exposed to business rudiments as well as knowledge and information for growing their businesses.

Olumuyiwa Adebayo, CFA Head, Group Finance,  Sahara Group during a session at #StartUpNation
Olumuyiwa Adebayo, CFA Head, Group Finance, Sahara Group leading a session at #StartUpNation

The workshop sessions included topics on finance, business funding, branding, social media use for business and starting and growing a business with currently available resources.

Ivie Imasogie- Adigun, Group Head, Human Resources, Sahara Group set the tone for the workshop with a thought-provoking opening remark. “Entrepreneurs are people who pursue their dreams passionately and are never afraid to fail. This tenacity ultimately equips them for the journey ahead, paving the way for success as long as they remain focused, innovative and determined. This is a path we have been through and continue to develop at Sahara Group and we are delighted to support young people to realise their dreams,” she counselled.

Beneficiary at #StartUpNation
Beneficiary at #StartUpNation

The Facilitators included Olumuyiwa Adebayo, Head, Sahara Group Finance; Oyindamola Johnson, an African Union Youth Champion; Omolabake Bode-Matthew, a successful entrepreneur; Adenike Bamigbade, Digital Marketing Expert; and Tunji Andrew, a serial entrepreneur, radio show host and investor. Their sessions were engaging, practical and resourceful.

In what could have easily passed for a mini-MBA, the participants were schooled and practically shown the way to navigate business terrains with particular reference to the Nigerian market.

 Oyindamola Johnson - Curator, Elevate Your Game
Oyindamola Johnson – Curator, Elevate Your Game at #StartUpNation

Citing the entrepreneurial trajectory of Sahara Group, Mrs. Pearl Uzokwe, Director of Governance & Sustainability, closed the session by assuring the entrepreneurs that they had the potential of becoming the next big businesses. “Sahara Group was founded by three entrepreneurs 22 years ago and today the business has become a global conglomerate operating in 38 countries across Africa, Asia, the Middle East and Europe. We believe you are on the right path and Sahara Group will continue to support young entrepreneurs through the SaharaHub and similar initiatives. StartUps and small businesses are critical for economic growth and development and we remain committed to providing platforms for small businesses to thrive and grow.”

Sahara Foundation Manager, Oluseyi Ojurongbe stated that the empowerment project was the first of many more platforms to support young entrepreneurs with the tools, resources, networks, and funds needed to grow their businesses. “This is the thrust of Sahara Foundation’s Extrapreneurship drive,” he added.

 

SAHARA GROUP

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Afripreneur

Interview With CryptoBrokerage CEO and Founder, Sheriff Olujide

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Sheriff Olujide, CryptoBrokerage CEO and Founder is a fintech expert with experience gained in investment banking, financial crime compliance, quantitative analysis and alternative investments. In this e-Interview with Alaba Ayinuola, he speaks on how his brand is providing cryptocurrency ecosystem the opportunity to access the global cryptocurrency exchanges and trade at the best available prices. Excerpts.

 

Tell us about CryptoCurrency Brokerage and the role you play?

CryptoBrokerage is a Fintech start-up and the owner of a trading platform called BestecX. Described as the Booking.com of the cryptocurrency market, CryptoBrokerage by BestecX  aggregates the prices from more than 200+ exchanges and allow users to compare and trade cryptocurrencies at the best available prices.

I am the CEO and founder of CryptoBrokerage

 

What is your startup capital and how were you able to raise it?

50,000 GBP – Through Personal savings

 

Why is business different from other FinTechs or CryptoCurrency Startups?

BestecX is unique as it combines block-chain technology with a suite of algorithms based on Artificial Intelligence and Natural Language Processing. Our platform and software targets all following customer segments globally; Retail investors (B2B), Institutional investors (B2B), Professional traders (B2C), OTC Brokerages (B2B), Cryptocurrency Potentials (B2C) and Cryptocurrency Newbies (B2C).

 

What are the challenges and how are you overcoming them?

As a Fintech, the most serious challenge we face is funding, however we continue to work hard within and outside of the team to develop our platform as we know the economic model of our business has been truly tested and its in our everyday life, from booking hotels to buying insurance and mortgages and flights.

 

Where do you see your business in 5 years and what steps are you taking in achieving them?

In 5 years, I believe our platform would be the number 1 best execution platform globally. We are putting together a strong team and building a platform that is safe secure and reliable as well as user friendly to everyone within the cryptocurrency ecosystem.

 

How is your business contributing to the development of Africa?

I believe our platform would provide the cryptocurrency ecosystem the opportunity to access the global cryptocurrency exchanges and trade at the best available prices. Blockchain projects would also be able to raise capital to develop projects.

 

What’s your view on the development of Africa business ecosystem?

I believe its evolving, however we are still a long way from the successes you see across Europe however the spirit of entrepreneurship in Africa is unbelievable.

 

What advice would you give potential entrepreneurs who intend to start a business or invest in Africa.

My simple advice to any potential entrepreneur is that nothing worth having comes easy.

 

How do you relax and what books do you read?

I like going to the gym and watching football especially Arsenal. I love reading legal thrillers especially John Grisham and Sheldon Siegel. My girlfriend would also add I read and listen to too much news.

 

Visit https://crbkofficial.com/

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