Managing payments to your suppliers could easily be the biggest worry you face while running your growing business, especially if the supplier has more bargaining power than you do. And, higher bargaining power on the part of your suppliers is an eminently possible scenario when yours is a small business that is just beginning to
Leaving a secure job in the financial services sector was not an easy decision to take, but Latifat Balogun’s passion for the elusive art of ice cream making propelled her to finally take the plunge. Building a robust foundation for her chosen calling, Latifat joined an ice cream making, display and delivery programme at the
For decades, the World Bank has believed that the key to unlocking Africa’s prosperity lies in empowering entrepreneurs. This philosophy holds good in a world where all is equal, and all conditions hold true across all economies. But Africa is not a land that can forget its past and plunge headlong into a capitalism-fuelled future
Zambia-based entrepreneur Mukupo Sichula has more than 10 years’ experience in the local business environment, powering his successful run in his own F&B business, Wanzana Processing. As Managing Director, Mukupo is responsible for the day to day running of the family business that he started together with his uncle Mwembe (40% stake) and Mwembe’s father,
If you are a woman entrepreneur with plans to start your own business, or to grow an existing business, getting mentorship from existing entrepreneurs or membership of an entrepreneurship support group could be an important step in realising your business goals. As a first step, believe in yourself and your abilities to succeed. At GroFin,
For a financier that reaches out to entrepreneurs, what could be better than funding a school that gives wings to new generations of entrepreneurs? Queenswood Christian School (QCS) in Pretoria is just such a school, whose mission is to provide children with a quality of education that allows them to become entrepreneurs, taking charge of
You won a big order from a reputable client, managed to ship the goods on time and heaved a sigh of satisfaction at successfully closing an important sale. We know the temptation to pat yourself on the back is great, but the job is only half done – the money still hasn’t found its way
Established in 2001 by patriarch Elia Al Nims and his two sons, Kameel (pictured top, right) and Ghassan, HYGEX initially imported cleaning and hygiene products for sale in the local market, and slowly forayed into manufacturing its own. Currently, HYGEX has manufacturing facilities in the outskirts of Amman and sells under its own brand, with
Moving from Kuwait where she had been running a business since 1992, Mrs Taheya, together with her husband Mr Motaz, established the Infinity Group for Trade in Cairo, Egypt, in 2009. Women like Mrs Taheya are a rarity in Egypt. Despite efforts to encourage Egyptian women to start their own businesses, female participation in the newly
Against the backdrop of the slow growth of most global economies, Africa shines out as home to a trillion-dollar, resource-rich economy which is host to some of the fastest-growing markets in the world. It is widely promising to turn into the next China in growth terms and, for committed entrepreneurs, this challenging continent could well
‘Inventory is a necessary evil.’ Any business owner, particularly from the stock intensive manufacturing, wholesale or retail space, would likely agree with that statement. Having too much inventory exposes your business to the risk of potential write-offs of unsold and obsolete stock, as well as to the pitfalls of committing money to slow-moving inventory when
Married for the last 25 years, James and Phyllis Maina consider Phyma Fresh Produce a labour of love. Having christened their business ‘Phyma’ (Phyllis and Maina) as a joint namesake, the entrepreneurial duo is passionate about what they do and are deeply involved in the operations of the business, founded in 2003 in Kenya. In
Since 2008, Francine has demonstrated her ability to successfully manage oil businesses with a sole proprietorship that was later formalised into her company, M.Line Petro Station Ltd, in 2011. With overall entrepreneurial experience of 16 years, Francine is currently running four petrol stations and managing four tank trucks under the M.Line brand.
Job creation being a key priority of the Fund, Conradie highlighted that GroFin is keen on businesses that have the potential to create 10 – 50+ job opportunities, starting with companies that have fewer than 150 employees. Currently, research by economists.co.za shows that 65% of SMEs in South Africa create zero job opportunities, while just 9% create 20 jobs or more.
“We approached several commercial banks but none of them would touch a start-up. GroFin funded our start-up where banks were unwilling to take the risk,” says Kamau.
With over 30 years of business success in the US, Kamau wants to revolutionise chicken rearing in his country with the sophistication and professionalism of poultry farming in advanced economies and contribute to national food security. Although various small chicken rearing businesses and a few big national poultry producers exist in the country, the poultry sector is one of the rapidly expanding sectors in Kenya and the current demand for poultry meat exceeds supply.
Have you ever faced a stretch because of inability to meet payments based on current cash flows? No wonder then, if you ask anyone who manages their own company, they would tell you without hesitation that cash is king. When it comes to your own business, sales are important, yes, but making sure that you
Since he was 7 years old, Mohamed Al Jabery has been involved in his father’s business of manufacturing water heaters.
“I started with basic tasks like iron dust cleaning, and gradually grew into specialised roles in production management, finance and marketing, until I was finally promoted to general management of the business in 2001,” says 41-year-old Mohamed.
A focus on quality education in her community is what drew Lilian Butesi Muhandiki to quit her secure job at the airport and start teaching students. Starting with private tuitions for 5 nursery students at her home, word-of-mouth saw the number of students shoot up to 25. It was then that Lilian decided to rent