Every week The Money Show interviews an author or reviewer of a new or trending business book.
This week Stephan Groots talks to local media entrepreneur and Africa expert Jaco Maritz, founder of How we made it in AfricaA business publication that highlights real stories of entrepreneurs turning opportunity into profit on the continent.
Following the success of his first book, Maritz has published a next book simply titled How we made it in Africa II.
Connected: Our long journey to economic freedom: 'The first book to bring Africa from the margins' by SA author
It features 15 new in-depth accounts of the journeys of entrepreneurs who have built successful companies in more than ten countries on the continent:
“Each story takes a candid look at the path from idea to established business. The mistakes. The challenges. The lessons learned.”
The book features two South African movers and shakers – yoko Katlego Mafai, co-founder and Godirgetse Mogajane, founder of Delivery Speed.
When it comes to choosing entrepreneurs, Maritz says, first and foremost it's about finding people with interesting stories that others can learn from.
“But we also try to create a good mix of countries, and also a good mix between the sectors they work in, so the entrepreneurs featured in the book come from a variety of sectors – from retail to agriculture and technology to healthcare.”
“I would say one of the common traits they exhibit is the ability to adapt their original business model…For example, SA's Godiragates Mogagen now owns a township logistics business, but when they first started it was a food delivery app. When that initial model didn't quite work they changed direction and became a general logistics business for companies delivering into townships.”
“You'll see this along with many of the other stories featured in the book – the ability to adjust a business model from what you thought it was.”
“Getting funding for their businesses is something that many entrepreneurs have highlighted. For example with the Yoko founders, even after they had a few thousand customers they struggled to secure funding from South African investors and basically had to go abroad where investors were more willing to support them.”
“Although 11 of the 15 fastest growing economies in the world this year will be in Africa, we need to understand that large sections of the population are still very price sensitive – when people look at these economic growth figures they can get a little carried away in terms of spending power. I think they need to bear in mind that, yes the continent is growing fast but it is on a low base, and you need products that are priced right for the mass market.”
Jaco Maritz, Author – How We Made It in Africa II
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Following the success of the widely acclaimed first book, How We Made It in Africa, How We Made It in Africa returns with 15 fresh dives into entrepreneurs' journeys of building remarkable companies.
Each story takes a clear look at the path from idea to established business.
Find out how Rwandan Hervé Tuyishim went from losing his home when his sausage company could not repay its debts, to listing the business on the stock exchange. Learn how Kenyan real estate developers Leonard and Emily Macchiaro were able to stop worrying about money by the time they turned 40. Learn more about how Callisto Radithipa evolved from selling counterfeit jeans to becoming a major supplier to mining companies in Congo.
These are the stories of the people making it happen – from Johannesburg to Lagos, Cairo to Harare.
Scroll to the audio player to hear more from author Jaco Maritz