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Eugene Nizeyimana, CEO of SSCG Consulting on why now is the time for impact investing in Africa

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Eugene Nizeyimana, CEO of SSCG Consulting

SSCG is a global consulting and professional firm providing strategy advisory, management consulting and operation support services, with the aspirations to transform traditional consulting industry landscape mainly in Emerging Markets and Developing Economies (EMDEs). In his vision, founder and CEO Eugene Nizeyimana, is to accelerate entrepreneurship, women empowerment, small businesses growth competitiveness and resilience; enhance agro-processing and manufacturing value chains in Africa to harness sustainable growth. In this interview, Eugene explains his plans for SSCG Consulting, his effort to build a global company that will outlast him and complete with other industry players, and why now is the best time to invest in Africa.

 

Time for Impact Investing in Africa

Current global economic trends pose risks but also create unprecedented investment opportunities for investors and businesses.African market is profitable and present abundant growth opportunities. According to the World Bank Group (WBG), emerging markets will power global growth over the next twenty years where half of the consumption increase (1.8 billion extra consumers) expected to come from. By 2025, it estimated that Global consumption will double and reach $62 trillion, where 65% of the world’s manufactured goods will find their way to emerging markets. Similarly, over half of the world’s population growth between 2017 and 2050 is forecasted to take place in Africa, where it is projected to more than double, growing by 1.3 billion.

Each year more than $1.5 trillion mainly Foreign Direct Investment (FDI) moves across international borders into developing countries. Most of it goes to just 10 countries. Barely 1% trickles into areas with the greatest need for investment: countries affected by conflict and instability.Only a small % share of the trillions in investable assets allocated to EMDEs, despite the significant investment opportunities that exist in these markets. According to JP Morgan, the global socially responsible investing (SRI) market is now worth almost $23 trillion, with around half of all assets managed in Europe and more than a third in the U.S.

To achieve substantial and sustainable economic transformation, smart and shared actions are needed by investors, financiers, entrepreneurs, regulators, development institutions, governments and the private sector to tackle the world’s greatest development challenges while also unlocking investment opportunities and to achieve The Sustainable Development Goals (SDGs). At the same time, there is growing interest among private investors to adopt sustainable investment practices.It is important to emphasis that, if these developing economies and development institutions are serious to accelerate sustainable economic growth in regions as Africa for prosperity, contracts and tenders opportunities must be shared with African SMEs and High Mid Cap firms who understand cultural intelligence and local needs; are the backbones of the economies and engines of growth improving people’s livelihoods.

Also Read Black Space App CEO, April Jefferson on entrepreneurship and connecting black travelers to their culture

Transforming SSCG for Competitiveness

For decades, African consulting industry has been dominated by Western service providers mainly the Big four incumbents namely KPMG, Deloitte, EY and PWC, followed by US strategy giants McKinsey & Company, Accenture and The Boston Consulting Group, acquiring majority of work and contracts. Recently, global industry trends have demonstrated that some of these players mostly under deliver work against their promises and with inadequate oversight thus faced with mounting regulatory pressure, trust for value delivery, engulfed with poor ethics and lack corporate accountability.

SSCG is well positioned as one of the top go to market service providers and working extremely hard to build a top tear global brand coupled with talented and experienced people to ensure we are competitive in the global consulting market and outpace our peers while ensuring that we deliver high quality and value driven services to transform industry status quo and the economy. The market and communities are looking for providers that are impact driven. The global African communities is abundant of highly talented and experienced people. It is imperative that African solutions are defined, championed and delivered by African people and talent.

Leveraging our foundation and footprint since the launch in Oxford as Sub-Saharan Consulting Group, we have been enhancing our reputations as we serve the many clients in the UK and African economies to become a trusted provider of consulting services. As firm we have deployed an integrated lean and agile business model to ensure we continue to meet our client demands, innovate and invest heavily to bolster our capabilities and diversify our global practices, build smart relationships and collaborations, enter new markets and consulting segments to boost revenue and market share Says SSCG’s co-founder and CEO, Eugene Nizeyimana.

SSCG strategic vision in the next five years is to enhance its global footprint and capabilities, establish presence in the US, European and African countries such as Rwanda, Kenya, South Africa, Ghana, Senegal and Ethiopia. Taking advantage of opportunities created by global private investment community, The African Growth and Opportunity Act (AGOA) initiative, Overseas Private Investment Corporation (OPIC) and the newly ratified African Continental Free Trade Area (AfCTA) agreement. SSCG aim to be highly active in accelerating industrialisation, international trade and flow of investment from the UK, US and Europe, boost intra-regional trade and scale up private sector growth especially focusing on key sustainable sectors of economies such as Agribusiness, manufacturing, healthcare, digital and technology, fashion and creative industry, engineering, renewable energy, High Volume Transport (HVT), Mobility as a Service (MaaS) and the automotive sectors.

Our work and effort is also strategically aligned to facilitate in the achievement of regional strategic priorities, SDGs and Africa Agenda 2063.

What are the most important resources and will really support us to achieve our ambitions and vision is acquiring capable human capital, hiring smart people with the right experience in our team to make sure that the company stay competitive against peers, continues to deliver value and for prosperity. Also operating a lean and agile business model which provide flexibility and easy to transform when necessary in addition of forming smart partnerships and collaboration in the markets.

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Press Release

Qatar Airways to launch new route to Lusaka and Harare from August

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Qatar Airways (Image: YouTube)

Qatar, DOHA – Zambia and Zimbabwe are being added to Qatar Airways expanding list of destinations in Africa from early August, bringing its award-winning service to two important southern African destinations.

The new service to Lusaka and onwards to Harare is scheduled to be operated with a Boeing 787 Dreamliner. It will connect passengers in Zambia and Zimbabwe with Qatar Airways’ global network of more than 140 destinations. With the addition of these two new routes the carrier will operate over 100 weekly flights to 27 destinations in Africa.

Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker said: “Africa continues to be an area of strong growth for Qatar Airways and launching this service will support the development of the economy and tourism sector in both countries.

“Not only do we continue to rebuild our network after the pandemic, but we are actively expanding it with the addition of these two key destinations. These are the fifth and sixth new destinations in Africa added to our network since the start of the pandemic, taking our total new destinations added across the globe to 10.”

The launch of Lusaka and Harare also supports increased demand for trade between Zambia and Zimbabwe and destinations on the Qatar Airways network such as London, Frankfurt and New York and from multiple points in China. With a total of 30 tonnes of cargo capacity on the aircraft per flight, Qatar Airways Cargo will play a key role in facilitating key exports from Zambia and Zimbabwe.

As travellers return to the skies with Qatar Airways, they can take comfort knowing that they are travelling with the only airline in the world that has, together with its state-of-the-art global hub Hamad International Airport, achieved four 5-Star Skytrax ratings – including the prestigious 5-Star Airline Rating, 5-Star Airport Rating, 5-Star COVID-19 Airline Safety Rating and 5-Star COVID-19 Airport Safety Rating.

These achievements highlight Qatar Airways’ commitment to providing our passengers with an industry-leading experience at every point of their journey, including the highest possible level of health and safety standards that safeguard the wellbeing of our passengers both on the ground and in the air. For full details of all the measures that have been implemented onboard and in HIA, please visit www.qatarairways.com/safety.

A multiple award-winning airline, Qatar Airways was named ‘World’s Best Airline’ by the 2019 World Airline Awards, managed by the international air transport rating organisation Skytrax. It was also named ‘Best Airline in the Middle East’, ‘World’s Best Business Class’, and ‘Best Business Class Seat’, in recognition of its ground-breaking Business Class experience, Qsuite. Qsuite is available on flights to more than 40 destinations including Casablanca, New York, Paris and Singapore.

Flight schedule starting 6 August:

Wednesday, Friday and Sunday

Doha (DOH) to Lusaka (LUN) QR1455 departs: 02:20 arrives: 08:50

Lusaka (LUN) to Harare (HRE) QR1455 departs: 10:20 arrives: 11:20

Harare (HRE) to Lusaka (LUN) QR1456 departs: 18:55 arrives 19:55

Lusaka (LUN) to Doha (DOH) QR1456 departs: 21:25 arrive 05:55 (+1)

 

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Investment

Fatura secures a $3 Million pre-series A investment round

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Fatura co-Founders (Source: Hossam Ali)

Fatura round was co-led by Sawari Ventures and Arzan VC, with the participation of Egypt Ventures, EFG-EV, The Cairo Angels as well as Khwarizmi Ventures. The B2B marketplace was launched late 2019 and already crossed the 1 Billion EGP yearly GMV milestone, and that’s just in the FMCG sector. Fatura is a mobile application that connects wholesalers & manufacturers with retailers in different industries. The start-up has been operating in the FMCG industry and it is currently piloting in other industries.

During the past year the start-up also extended its reach to more than 25,000 retailers and more than  500 wholesalers and manufacturers across 20 governorates, exchanging more than 10,000 SKUs. Fatura also cracked the surface of financial services by introducing digital lending with focus on retailers financing, aiming to add more services in that area in the near future.

“Fatura’s existing infrastructure has enabled them to expand their offerings to new customers,” commented Hany Al-Sonbaty, Managing Partners at Sawari Ventures, adding that, “the team has demonstrated that they have the vision to identify new opportunities and the prowess and agility to implement and deliver. We are excited to become part of their journey.”

Hossam Ali, Fatura’s CEO, commented on the news saying: “There is a great opportunity in the B2B space in Egypt, that is growing as the players are becoming digitally mature and ready. Collectively, the digital B2B players in the FMCG space capture less than 5% of the market and there is a long way to go. Our conviction is to stay asset-light, be inclusive to all the industry stakeholders and to attract the best on-ground acquisition force across the country”

Fatura has built a strong foundation and infrastructure that enables it to monetize its data and services. The company’s future plans include new services that support the different players in its ecosystem including manufacturers, wholesalers and retailers, multiple digitization initiatives with focus on digital payments and regional expansion into new markets.

“Being part of Fatura’s success story is exciting for us. The FMCG industry is in need of Fatura’s product, which will solve many challenges faced by small retailers. Also, its fintech angle complements the core product and enables retailers to scale their business further with less working capital constraints.” – Hasan J. Zainal, Managing Partner of Arzan Venture Capital

This investment will gear Fatura to extend its services beyond e-commerce and digital lending to optimize the exchange of goods, money and information in the B2B context while focusing on convenience and the different users’ experience.

 

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Business Africa Online, InnoPower and Afrigrants to Host some of the best African, USA Innovators and Investors

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Business Africa Online, InnoPower, LLC (USA) and Afrigrants Foundation are set to Host some of the best Innovators, Investors, Business Consultants and Industry Experts in the world at the Going Global Summit with the theme, “Africa: The Next Global Frontier”. The summit is a part of InnoPower Minority Business Week (IMBW) hosted by Innopower, LLC (USA) scheduled to hold from Monday, June 14 to Friday, June 18, 2021 and currently ongoing.

The Going Global Initiative intends to boost a stronger pipeline of awareness, access to Africa’s talent and solutions with these focus areas; Entrepreneurship, Connection and Advocacy. The InnoPower Going Global Summit 2021 is a digital summit and intends to connect Africa to the global economy, starting with the USA. It will attract global business leaders, entrepreneurs, investors, decision and policy makers around the world, especially from Africa and the United States of America (U.S.A). The Summit will feature panel sessions, virtual pitch, awards and networking.

Panel Discussion Topics will cover:

  1. Positioning African entrepreneurs for global exposure and impact.
  2. Raising Global Capital: Understanding the Why, When and How.
  3. Post COVID-19: Exploring US-Africa Investment Opportunities.

Esteemed Guests include:

  • Dr. Akintoye Akindele (Nigeria) – Executive Chairman, Platform Capital
  • Lawrence Walter (USA) – Vice President, Entrepreneurship at IEDC
  • Ayodeji Balogun (Nigeria)– Founder and CEO of Premier Credit
  • Lydia Idem (USA) – Founder & Managing Director of FM Capital Group
  • Adesuwa Okunbo Rhodes (Nigeria) – Founding Partner & CEO, Aruwa Capital Management
  • Nike Anani (Nigeria) – Founder, Nike Anani Practice Ltd
  • Ali Hussein Kassim (Kenya) – Tech Executive and Advisor
  • Mohamed Aboulnaga  (Egypt) – Tech Entrepreneur
  • Shila Nieves Burney (USA) – Founder, Zane Venture Fund & Zane Access
  • Segun Abiona (Nigeria) – Founder & Innovation Director, Nicole & Giovanni
  • Manisha Dookhony (Mauritius) – Economist & Senior Advisor
  • Sherif Nessim (Egypt) – Founder & Managing Director, Jedar Capital
  • Linda Wayoe (Ghana) – Director, AM Group & Board Member UK-Ghana Chamber of Commerce
  • Mariam Kamel (Egypt) – Manager, AUC Angels
  • Horesia Nyawade (South Africa) – CIO & Co-Founder, Vuuqa
  • Muhammida El Muhajir (Ghana) – Global Brand Strategist

Conceptualised by Afrigrants Foundation, Pitch School Africa is an annual youth entrepreneurship event  that trains young entrepreneurs on how to pitch their business ideas to potential investors. Over 200 students across Africa participated in the Pitch School Africa 2021 stream, which has now been narrowed down to just 4 BIG ideas that will be featured at the Grand Finale. The 4 Finalists that will pitch their business ideas at the 2021 InnoPower Going Global are; Gualo Confidence (Nigeria) – Gualocian fish processing, Budani Bulayani (Botswana) – Budzi Products, Favour Adeleke (Nigeria) – Qiqi Farms and Oluwatomilola Mustapha (Nigeria) – Raytreat.

The Pitch Jury are;

  1. Ronda Taylor, PhD Department Chair Entrepreneur Program, Ivy Tech Community College-Central Indiana.
  2. Dr. Kristin Burton Asst. Professor, Entrepreneurship, College of Business, Purdue University.
  3. Joe Albano, Principal Logika International LLC.

The winner will be awarded the grand prize of $5000 with a one year mentorship from the finest business developers across the world.

Awards

Over the past 12 months, businesses have faced remarkable challenges due to global economic meltdown and the COVID-19 pandemic crisis. Many ventures were forced to shut their doors through legislation and other circumstances. Some managed to survive by thinking out of the box and adapting to the changing and dire times. Business Africa Online (BAO) with the support of InnoPower, LLC (USA) will be recognising and awarding three (3) African resilient startups that have pulled out all the steps to grow back better through the pandemic in Africa. The awardees will get a support grant of $500 each with an acceleration program led by global business developers.

“Our strategic partnership with InnoPower, LLC (USA) is to support and further drive its Going Global Initiatives here in Africa. Also to reaffirm our commitment to connect African entrepreneurs and businesses with US-based investors. We are inspired and motivated everyday by the incredible African (Social) entrepreneurs and investors within our community and their desire to impact the world positively.” says Alaba Ayinuola, Founder & CEO of Business Africa Online

To register for this virtual summit, please visit bit.ly/InnoPowerGoingGlobal2021

 

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