Bulls n Bears Entrepreneurship Zone :: How these Successful African Entrepreneurs Raised Capital for Their Businesses

Thu Dec 13 05:25:28 CAT 2018

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Bulls n Bears Entrepreneurship Zone :: How these Successful African
Entrepreneurs Raised Capital for Their Businesses

 <mailto:sales at dulys.co.zw>  <mailto:sales at dulys.co.zw>
<mailto:sales at dulys.co.zw> 6) Aliko Dangote (Nigeria)

Africa's richest man, Aliko Dangote, currently worth $12.3 billion
(mid-August 2017), is a role model to entrepreneurs on the continent.

While his business interests currently spread across Africa, Dangote's
impressive fortune was built from very humble beginnings.

He started his business in 1978 with 500,000 Naira borrowed from his
grandfather. That's about $1,400in today's terms.

A common mistake we often make as entrepreneurs is to overlook and take for
granted those sources of capital that are around us and within our reach.
Friends, family, work colleagues, neighbours and people within our social
sphere can be interesting sources of capital, especially in the early stages
of business.

And because business flourished, Dangote was able to pay back the loan to
his grandfather in about six months.

In the early years, Dangote focused on importing soft commodities, including
rice, frozen fish, sugar and baby food into Nigeria. Today, his business
interests have expanded into local production of cement, salt, flour and
recently, petroleum refining.

These days, the banks, private and institutional investors are keen to
invest in Dangote's businesses because of the track record of success he has
achieved over the years. But in the beginning, it would have been tough - if
not impossible - for him to raise startup capital from any of these sources.

Remember, only people who know, like and trust you will be willing to take a
chance on you in the early days of your business.

7) Bethlehem Alemu (Ethiopia)

Bethlehem Alemu grew up in Zenabwork, a poor village in the suburbs of Addis
Ababa, Ethiopia.

Her business - SoleRebels - is one of the most popular and fastest-growing
African footwear brands in the world! Her collection of eco-friendly
footwear (made from recycled materials) have been sold in more than 50
countries across the world, including the USA, Canada, Japan and
Switzerland.

But her business dream would have never have taken off without the $10,000
in capital she raised from family and relatives in 2004.

Despite her poor background, it was possible to get her family and relatives
to pitch in their contributions. This is the not-too-glamourous part of
getting a business off the ground that glossy magazines fail to mention.

Success comes at a price. It may be embarrassing and downright difficult to
ask other people to invest in your business idea, dream, vision or project.
But you just have to do it if you want to stand a chance.

Using that initial capital, Bethlehem's business took off and she has gone
ahead to launch another fashion business - Republic of leather -  that
trades in luxury leather products like bags, belts and other non-footwear
leather accessories.

Her inspiring success story has been featured on Forbes, the BBC and CNN.
And she was described by Forbes as 'One of The World's Most Powerful Women'.

8) Giraffe (South Africa)

Anish Shivdasani and Shafin Anwarsha are the entrepreneurs behind Giraffe, a
South African startup business that provides low-cost automated recruitment
solutions, based on a mobile app.

In 2016, the business won the Seedstars World Competition, beating 63 other
startups from 55 countries across the world to win the grand prize of
$500,000 in equity investment funding.

On a continent where many entrepreneurs complain about lack of capital, this
startup from South Africa beat other businesses from across the world to win
the prize. Of course the judges were impressed by the ingenuity of their
business model and its potential impact on unemployment in South Africa.

The truth is, there are hundreds of startups in Africa that could achieve
the same feat if only they participated in competitions like this.

Shortly after winning the $500,000 prize, Giraffe attracted an undisclosed
additional seed funding from a group of US-based investors, led by the
Omidyar Network - a philanthropic investment firm of Pierre Omidyar (founder
of eBay).

One of the benefits of winning a competition is the exposure it gives to you
and your business. Very often, the exposure ends up attracting more
investors and capital to you.

INVESTORS DIARY 2018

Company

Event

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Date & Time

DISCLAIMER: This report has been prepared by Bulls 'n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from sources believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls 'n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and sourced from third parties.

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