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

Thu Dec 20 12:40:51 CAT 2018

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

9) Babajide Ipaye (Nigeria)

For over a decade ‘Jide Ipaye worked as an IT professional, but deep in his
heart, he wanted to do something much different. He wanted to make stylish
footwear.

>From an early age he’s always loved shoes but the options available to him
were quite limited because of his foot size – he’s a size 48 (European). So,
finding shoes that are the right size and fit had always been a challenge.

So, rather than just make bespoke shoes for himself, ‘Jide came up with an
idea to manufacture cool and high-quality footwear in Nigeria. That’s how
Keexs, his Africa-inspired brand was born.

But there was no capital to fund his dream.

So, in 2015, he successfully raised £17,871 on Kickstarter, the world’s
largest crowdfunding platform. ‘Jide used this capital to produce the first
batch of 1,200 sneakers that effectively launched the brand and made it a
reality.

Crowdfunding is rapidly becoming one of the biggest sources of capital for
passionate people who are looking to bring their business ideas, projects
and dreams to life.

In 2015 alone, the global crowdfunding industry raised $34.4 billion to
support entrepreneurs across the world. But in Africa, crowdfunding remains
largely unknown to entrepreneurs on the continent.

10) Zoona (Zambia)

Zoona is a financial services business founded by two entrepreneurial
brothers – Brad and Brett Macgrath in 2009. One is an ex-JP Morgan banker
and the other is a former commercial director of a telecom operator in
Zambia.

The startup provides both in-country and cross-border money transfer
services in several African countries – Zambia, Malawi and Mozambique. And
so far, it has processed more than $1 billion in money transfers, bill
payments and other financial services.

In 2016, Zoona raised $15 million of capital from a group of investors led
by the International Finance Corporation. The funds are being used to scale
up the company’s operations as it aims to reach ten markets and 30 million
active consumers across Africa by 2020.

The International Finance Corporation, or IFC, is an example of an
international development institution. And there are several more like it
that exist to support and invest in businesses, especially in developing
regions of the world like Africa.

Most international development institutions are funded or sponsored by
foreign governments or global institutions like the World Bank, United
Nations, European Union etc.

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

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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
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whatsoever for any loss howsoever arising from any use of this report or its
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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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