Ghanaian entrepreneur and former Olympic athlete Kenny Andam is returning to Africa after spending many years as a success in the United States. Andam started his technology career working in the Windows division of Microsoft and now has several companies and technological patents to his name.
Now, he plans to return to Africa to give a little back. His mission is to revolutionise entrepreneurship among African youth through his television show The African Entrepreneur Within.
What fuelled your decision to mission back to Africa?
I wanted to get back to the continent to invest in its potential. With the expertise I’ve gathered over the years, I felt that I could contribute my little bit of knowledge, experience, and entrepreneurial capabilities to develop the continent and help manifest the dreams of its citizens.
Tell us about reality show The African Entrepreneur Within – how does it work? And what do you aim to achieve through the show?
The show is designed to help budding entrepreneurs develop their business models to service the trending needs of the social groups within their various communities. The winner of the show will receive $1m (R10m), the runner-up $400?000 and the second runner-up will take home $100?000.
The intent for the show is to grow the appreciation for entrepreneurship. My hope is to use this show to make people realise that they can become independent and self-sustainable if they start making their governments irrelevant in their desires to survive and learn to be entrepreneurial.
In your opinion, why is the development of a thriving culture of entrepreneurship critical to development on the continent?
My belief is that entrepreneurs build countries and not governments. When entrepreneurship is made visible and the successes celebrated, Africa’s current and younger generation will take passion in learning how to innovate and create. Our citizens are currently sleep-walking and only follow the trend of politics and government employment to earn money. I hope that will change – we need to drive the message of self-sustainability and self-reliance.
Who would you name as African start-ups, with major growth potential, to watch in 2014?
- Fundaonline in South Africa (a solution for mobile learning).
- The BRCK – in Kenya (the robust internet access hub for every terrain).
- Sleek Event – in Ghana (media event management and hosting).
- Jumia – this venture has a presence in six African countries and is setting the trends for ecommerce Africa.
- Karibu – in Tanzania (targeted for Africa’s green movement with solar).
- iRokotv – in Nigeria (a start-up that is taking the online movie platform trend to the next level in Africa).
- Koko King – in Ghana (taking the trend of local meals and delicacies to the fast meals sector).
Which industries on the continent are exploding? Where does the opportunity lie?
The food and beverage sector. There are local delicacies that need the right packaging to make them attractive to everyone. If you are able to create a brand that provides easy and affordable access to the local foods that we all love within our various countries, and eliminate the time it takes to prepare them for consumption, everyone will buy from you. A great example is the story of the Koko King in Ghana.
Power provisioning services. The continent is in need of power provision services that can provide new sources of renewable green energy to communities who are not connected to a national electricity grid. Solar powered batteries that can connect to a house and provide electricity and light at night is a new trend that is booming across Africa. This area has many tax credits that can reduce the cost of entry for an entrepreneur.
Real estate development partnerships. Most of the lands within African countries are traditionally owned and so there is limited land rights management within various communities. With the discoveries of natural resources that is currently attracting foreign capital to the continent, there is a big need for accommodation. Negotiating parcels of land for development and selling it at international market rates is a booming business on the continent that entrepreneurs should look as a major opportunity. Even though this is capital intensive, the start-up phase is always dependent on an entrepreneur’s ability to negotiate a fair partnership offer with the land owners and family who controls the property.
The transportation industry. This is also a major sector of interest but the administration of such a sector is nonexistent in Africa. I believe that an entrepreneurial focus on the administrative core and standardisation core for such a sector will bring massive growth to the company that initiates this trend and creates partnerships in the various countries on the continent.
How has the rapid adoption of mobile on the continent changed the start-up landscape?
With this advancement, information sharing has opened up dialogue among citizens. This never existed before. Africans now have access to information on changing trends across the globe. With this valuable information, start-ups are able to study the pros and cons of other like-minded implementations via their mobile internet. They can then make adjustments and avoid mistakes.
What spheres in mobile are most relevant?
One of the spheres that I believe is critical and needs major focus across the continent is the commodities sector. Entrepreneurs need to build a unified commodities trading platform that everyone can access via their mobile phone. This platform can then help producers identify the real market value of their products and services.
What are some of the challenges start-ups are facing in Africa?
I always hear that accessing capital for projects is difficult. But what I always advise entrepreneurs that capital is not the most difficult to access. The hardest is a person’s ability to sell their vision and project to make the investor believe in them as an individual. If you invest in the person, you are more likely to experience success than when you focus on investing in an idea. Ideas and start-ups only flourish if the founding members are committed to their vision and goals. Most sales pitches by entrepreneurs on the continent usually don’t have much structure or confidence within the founders themselves. If you don’t have confidence in you, how will an investor have confidence in your project or company?