There is a bug of entrepreneurship sweeping the world and Africa in general. The current young generation is being encouraged and taking up the challenge of job creation or entrepreneurship as opposed to seeking employment. One of the most common excuses peddled around is lack of capital. However, have you ever wondered how much it took the most successful African entrepreneurs to build their multi-million business empires? Here are examples that will jolt you to get working on your idea.
When civil war hit Liberia, Fomba Trawally was forced to seek refuge in Gambia from 1989 until he returned to Liberia in 1991. From his life savings of 200 dollars, he started selling rubber slippers in Monrovia. It has taken him fifteen years within which he has diversified into import of cosmetics from allover the world. He also established a paper and toiletry manufacturing company that it turning-over more than a million dollar every year.
The Ethiopian neighborhood of Zenabwork and its poverty did not discourage Bethlehem Alemu from growing her footwear business allover African and beyond. The poor Ethiopian girl borrowed 10,000 dollars from relatives and friends and began recycling materials and making shoes. SoleRebels is now a recognized African brand with a turnover of over a million dollars every year and selling globally.
IrokoTV is fast becoming a common name in Africa and competing with global movie streaming brands. This is the work of Jason Njoku the co-founder and CEO of the Nollywood movies specializing outfit. The online streaming venture has attracted global attention and investments including the latest 90,000 pounds aimed at turning it into the biggest African brand. The only capital Jason needed was an idea shared with the right people.
Adii Pienaar is the perfect example of bootstrapping. This is where a business starts with practically no coin. The South African serial entrepreneur started WooThemes at age 23 while still in university. He consulted for other companies and used the proceeds to boost WooThemes. The company was recently sold for 30 million dollars to an American tech giant based on the internet.
Most 19 year old are partying, taking photos with hash tags or pursuing mundane courses in university. Patrick used his sunset teen year to set up a Chinese mobile phone selling business. He left for China with 1,800 dollars as capital, that was borrowed from his mother and topped by a friend. Today, the Tanzanian entrepreneur owns the largest solar company in Eastern Africa minting in excess of fifteen million dollars in 2015.
What comes to mind when you see an empty water bottle or disposed plastic container? Lorna Rutto from Kenya saw a remedy for the fast depleting forests in the name of providing wooden poles. With SEED funding, he has built a million dollar company that is in full scale manufacturing, employing thousands and conserving the environment.
Africa has an incredible collection of entrepreneurship success stories. There is the celebrity pig farmer from South Africa called Anna Phosa. Aliko Dangote had to borrow 500,000naira from his grandfather and is now the richest man in Africa. Fred Deegbe knows what bootstrapping is all about, and many more success stories. The above stories only demonstrate that capital is a lame excuse. What is required is passion and hard work.
When civil war hit Liberia, Fomba Trawally was forced to seek refuge in Gambia from 1989 until he returned to Liberia in 1991. From his life savings of 200 dollars, he started selling rubber slippers in Monrovia. It has taken him fifteen years within which he has diversified into import of cosmetics from allover the world. He also established a paper and toiletry manufacturing company that it turning-over more than a million dollar every year.
The Ethiopian neighborhood of Zenabwork and its poverty did not discourage Bethlehem Alemu from growing her footwear business allover African and beyond. The poor Ethiopian girl borrowed 10,000 dollars from relatives and friends and began recycling materials and making shoes. SoleRebels is now a recognized African brand with a turnover of over a million dollars every year and selling globally.
IrokoTV is fast becoming a common name in Africa and competing with global movie streaming brands. This is the work of Jason Njoku the co-founder and CEO of the Nollywood movies specializing outfit. The online streaming venture has attracted global attention and investments including the latest 90,000 pounds aimed at turning it into the biggest African brand. The only capital Jason needed was an idea shared with the right people.
Adii Pienaar is the perfect example of bootstrapping. This is where a business starts with practically no coin. The South African serial entrepreneur started WooThemes at age 23 while still in university. He consulted for other companies and used the proceeds to boost WooThemes. The company was recently sold for 30 million dollars to an American tech giant based on the internet.
Most 19 year old are partying, taking photos with hash tags or pursuing mundane courses in university. Patrick used his sunset teen year to set up a Chinese mobile phone selling business. He left for China with 1,800 dollars as capital, that was borrowed from his mother and topped by a friend. Today, the Tanzanian entrepreneur owns the largest solar company in Eastern Africa minting in excess of fifteen million dollars in 2015.
What comes to mind when you see an empty water bottle or disposed plastic container? Lorna Rutto from Kenya saw a remedy for the fast depleting forests in the name of providing wooden poles. With SEED funding, he has built a million dollar company that is in full scale manufacturing, employing thousands and conserving the environment.
Africa has an incredible collection of entrepreneurship success stories. There is the celebrity pig farmer from South Africa called Anna Phosa. Aliko Dangote had to borrow 500,000naira from his grandfather and is now the richest man in Africa. Fred Deegbe knows what bootstrapping is all about, and many more success stories. The above stories only demonstrate that capital is a lame excuse. What is required is passion and hard work.
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