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What Makes Africa’s Entrepreneurs Successful?

There can be no doubt that Africa is a continent on the rise. This once sleeping giant has started waking up, and there are numerous positive changes happening in many of the continent’s countries. These changes have given rise to a host of entrepreneurs who have overcome sometimes considerable odds to create thriving businesses and companies in various fields.

Good Double Success

It is hard to categorize successful African entrepreneurs, and it is harder still to find a thread of commonality between them. This is because successful African entrepreneurs come from different countries, social and economic backgrounds, and they have invested in different industries. Nonetheless, it is possible to identify some of the common traits and skills that these entrepreneurs possess as well as the tools they have utilized to get to the top of their areas of expertise.

From Wale Tinubu in West Africa and Prince Kofi Amoabeng in Ghana to Herman Mashaba in South Africa and Gordon Wavamunno in Uganda, Africa has no shortage of dynamic entrepreneurs. These individuals come up from all corners and walks of life on the continent and their stories should inspire other budding entrepreneurs who want to follow in their footsteps.

Secrets of their success

Many individuals have tried to examine the skills and traits that have led to the success that these entrepreneurs – and others like them across Africa – have enjoyed, and it is possible to outline some of them. For starters, all these individuals were determined to succeed in their lives. Some of them faced great odds and persecution at times, but they never allowed these trials to discourage them.

Another thing that comes out clearly is that these entrepreneurs had clear visions of what they wanted to achieve. They used their personal experiences to build up niche-businesses targeting specific clients, which in turn resulted in them becoming wildly successful.

Additionally, these individuals are risk takers, and this is a common trait shared by entrepreneurs around the globe. Most successful African entrepreneurs are also persevering, tenacious, and embrace a positive can-do attitude towards life.

Quite a number of Africa’s entrepreneurs believe in giving back to society. For example Tunde Folawiyo, winner of the 2010 African Business Leadership Award, has a passion for empowering and fostering African youth. He is known as a philanthropist who takes a personal interest in promoting youth development in his home country of Nigeria, as well as throughout Africa.

Lessons to borrow

Other individuals can draw helpful lessons from the histories and behaviors of successful entrepreneurs in Africa. Tools and skills that other entrepreneurs can harness for their own success include:

Focus: It is crucial for any individual who wants to succeed at becoming an entrepreneur to have an unwavering focus on his or her vision. This focus should drive them to achieve their goals regardless of the obstacles they may face.

Building strong relationships: Another key thing budding entrepreneurs should learn is the art of fostering strong relationships with clients. Nowadays, individuals can use various social media outlets to communicate directly to their clients and respond to their needs and wants.

Finally, it is important for aspiring entrepreneurs to understand that risks should be well managed in all business ventures. Decisions need to be well thought out and individuals should not hesitate to ask for help when necessary.

By Cheryl

Read more at African Leadership.