There are two myths which are often related to success in business. One is that you want a substantial quantity of capital.
Due to these myths, many individuals have become paralyzed and because of this, too many never begin. If you’re among them, let me now introduce one to five entrepreneurs who made it BIG in Africa with about $100 or less in hand and that now make a substantial amount after only having started a couple of years back.
Their success stories give an interesting format for people who want to understand how to start a business in Africa with very little or nothing. I’m telling their stories here so that you may begin believing it is possible to accomplish anything in Africa!
Here Are 5 Entrepreneurs Who Did It:
- From college drop out to insurance magnate (Kenya)
In 2007, Heshan de Silva dropped out of college and as things got worse for him in the United states, he joined his parents back in Kenya to get his life back together.
Aged only 18 at the time, his parents gave him 10,000 Kenyan Shillings (US$116), which he used to start a new business.
He targeted the bus travel industry in the nation by promoting insurance bundled with the bus ticket purchase. And it is widely reported in the press that by the end of the year, the business had made 90m Kenyan Shillings (US$1.05m).
Heshan has since spent that money in his new company, De Silva Group, a venture capital company.
With an incomplete education, no funds, not a lot of life experience and yet Heshan made it in a short period of time. He was featured in CNN and Forbes Magazine as one of Africa’s most successful young entrepreneurs.
- From graduate to high-profile online marketing company (Nigeria)
Abasiama Idaresit graduated with an MBA at Manchester Business School and moved back to Nigeria in 2010 to begin his own company. Today, he’s the Founder and CEO of Wild Fusion, a digital advertising company.
Guess what? He began his firm in 2010 with a gift of $250 from his mom and it took him to create the first deal. Just three decades later, Visa, Vodafone, Samsung and Unilever and many big Pan-African corporations are his customers and his organization is valued at more than $6 million in earnings.
And yes, he began in 2010. Wild Fusion has become Google’s certified partner in Africa!
- From a broken iPod to a chain of mobile phone repair shops (South Africa)
Take Axel Fourie from South Africa. From the time he was 27, he had tried unsuccessfully to install several companies.
When his iPod was faulty and he had been told by experts that nothing can be done about it, he searched for a YouTube video on the internet and learned how to fix the iPod himself!
Then he put an ad into a neighborhood paper and offered to fix faulty iPhones and iPads. The answer he got exceeded his expectations because he had been bombarded with calls and requests from potential clients.
Axel opened his firm iFix and began fixing iPods and iPhones from his college dorm. Now, Alex runs a series of 8 stores and employs 85 people.
He has since expanded his company to manufacturing mobile phone accessories that he exports to 12 countries across Africa. We forgot to mention that the amount of his starting capital was zero (unless he paid a bit for that newspaper advertisement ).
- From four pigs to a commercial farm with four thousand pigs (South Africa)
Anna Phosa began her pig farm venture in 2004 in Soweto with roughly $100 in hand. She bought four pigs with that money after she was introduced into pig farming with a close friend.
A little less than four years later, in 2008, Anna was contracted by Pick ‘n Pay, the South African supermarket and retail giant to provide its stores with 10 pigs weekly. This was a first breakthrough and the petition by the merchant grew quickly to 20 pigs each week.
However, the really amazing bit occurred in 2010 when Anna signed a stunning contract with Pick’n Pay to provide 100 pigs during the next five years under a 25 million Rand bargain — that is almost 2.5 million US Dollars! She didn’t even have so much land or sufficient pigs! Having a contract in hand, Anna received financing from ABSA Bank and USAID to purchase a 350-hectare farm land.
Anna began with 4 pigs in 2004, now her farm employs about 20 staff rearing 4,000 pigs at one time. Her perseverance has made her a millionaire.
- From African backyard tree nursery to biggest garden centers (South Africa)
And now to one of my favorites, since it’s truly such a hands on job anyone can start now, tomorrow or next week. I know what you are thinking but this isn’t a children’s nursery. It’s really a tree nursery! You have to know about this remarkable story!
The venture started in 2001 by South African businessmen, Jacky Goliath and Elton Jefthas, in Jeftah’s house backyard.
I don’t know precisely how much they spent, but it must have been peanuts, because tree seedlings to get you started in Africa usually cost a couple of pennies. And then you just require a garden and a few plastic containers. That is it for a start.
Back to De Fynne Nursery: market demand grew quickly and steadily that meant that they moved the nursery into a 0.5 hectare property in 2005, and in 2008 had to move again to a 1.5 hectare area outside Cape Town where they hosted 600,000 plants!
Now, the De Fynne nursery provides its products to retailers like Woolworths, Massmart and Spar in South Africa and it was reported that they have since transferred into a whopping 22-hectare business property. This is an easy startup idea on a shoestring budget any place in Africa where you’ve got a booming housing & resort sector and expanding city places!
Anything is possible in Africa
I am hoping that the brief stories in this informative article about beginning an African business on a shoestring budget motivated you. — these five Africans have risen with their fairly easy and straightforward start-up notions. They are currently leading business men and women and the fact is that there are so many more out there like them. And a few have risen up from in communities which live in real poverty.
Now, honestly (and occasionally we will need to listen to the truth), there’s nothing which should keep you from getting started with your own organization. Even if you must work another job on the side for now. I promise, it is going to charge you up!
Don’t forget; anything is possible in Africa. It is a virgin market with high potential. There’s a chance to make something amazing everywhere you go…
See also: https://employerofrecord-africa.com/