Entrepreneurship Zone: 13 December 2019: Profit-making idea: An efficient maintenance repair operations (MRO) industry

[Bulls n Bears]

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How we made it in Africa asked Isaac Kwaku Fokuo, founder of investment
advisory firm Botho Emerging Markets Group, to identify one untapped
business opportunity in Africa. Here was his response:

"I believe we are at a point in time on the continent where we are starved
for projects that will have a profound ripple effect on other activities.
So, if I had $100 million to spend, I would build a company that focuses on
building the value chain of an efficient, effective, and highly profitable
maintenance repair operations (MRO) industry.

"MRO simply refers to supplies and goods within the production process that
guarantee that all areas of business operations can function properly. This
is different from an original equipment manufacturer (OEM) product which is
an end product. For example, a car is an OEM product, but its steering wheel
is an MRO product.

"Our continent is poised for growth and we keep talking about the fourth
industrial revolution and some even argue that China will outsource its
manufacturing to Africa (I am not one of the proponents of this argument).
Yet, we do not produce a lot of the inputs needed to manufacture at scale
and boost intra-African trade on "made in Africa" manufactured goods.

"Currently, if I am a production manager in many African factories and my
conveyor belt breaks, it will be difficult for me to find a part and get the
line working in under a day, let alone less than two hours. Picture the loss
of productivity in such a case and think of how often essential parts of
production lines tear or need to be replaced.

"To solve this, my MRO distribution centres will serve the demand from local
manufacturers and they would also feed inputs into critical operations of
different industries such as manufacturing, construction, and more.

"In addition to this, the company would help build an effective, scalable
e-commerce platform that allows businesses to get what they need promptly
because one of the biggest impediments to business in Africa is that we do
not have time-efficient solutions to some of these foreseeable problems. We
import a lot of things, and this not only stalls processes but it also has
significant financial implications, which creates a lot of
inefficiencies."-Howwemadeitinafrica



 

 

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