Seven pearls of wisdom from an African tech tycoon

1) DID DOING HARD LABOUR ON A FARM HELP HIM IN LIFE ?

“I think it is a patronising view, especially as an older adult that everyone should experience hard labour and it is good for you and all the rest of it – and of course it is,  but hard labour can be really hard and if you are doing it out of necessity it is not pleasant. Many Some people in Africa spend their lives doing hard labour because it is the only way of income generation.”

2) HOW DO YOU START SMALL AND GROW YOUR BUSINESS IN THESE HARD TIMES?

“ You don’t have a business unless you have a customer, someone willing to buy from you. It is all about the value of what you offer and staying focused on that, from the beginning right through to the end, is of paramount importance. People like Amazon in the States teach us that over and over again…Then it is  about perseverance, risk, sacrificing often. Don’t give up- too many people give up too easily, but there is no point in flogging a dead horse”

3) WHAT TECHNIQUES DO YOU USE TO DISRUPT THE MARKET?

“Be very wary of the patronising person who comes along and says : ‘Ja, I have done this before and knw how to do it all and let me anoint you with the benefit of my wisdom. They want more the ego and  the attention of it all and bring nothing else… Pick and choose every carefully. “

4) HOW DO YOU WIN OVER INVESTORS?

“From an investor’s point of view they are taking all the financial risk. As the team you are taking very little risk apart from putting your time in and not being paid as much as you would otherwise be, but you still feed yourself and earn some kind of income. Investors like founders who are prepared to work for nothing for a while because it shows commitment and skin in the game. When someone has got skin in the game you’ve got something that’s worth more than someone who just works and goes home in the evening without worrying to too much about the financial position.”

5) WHAT IS THE GENERAL SENTIMENT TOWARDS START UPS IN ZIMBABWE?

“Unfortunately, the real challenge for anyone to invest in a start up in Zimbabwe is what market are you playing into; because if it is the Zimbabwean economy  unfortunately you have a really fundamental problem that there are challenges in the Zimbabwean economy that I don’t really have to describe here, about the size of that economy, the legal system, governance – what chance have you got of making a successful business as a start up in Zimbabwe? So the area you want to think about the global market, or digital, I feel despairing sometimes in Zimbabwe in that it is in some ways a bit cut off from the global economy; there is all the talent and energy in Zimbabwe but at the moment it is not being allowed to flourish….I greatly admire the energy and talent of Zimbabweans and if there is anything I can do to help it prosper I would die a happy man.”

6) WHAT ARE THE CHANCES OF THE METAVERSE?

“I might be a bit old and grey now, but I would not bet on the Metaverse at this stage, don’t waste your time. E-commerce is gigantic now and it’s growing bigger. If you look at market stats in America or England, the percentage of online commerce versus retail is still a small percentage so there is plenty of headroom for growth in e-commerce…Whereas the Metaverse it is a bit like the internet when it first came out, when it first came along you could pretty much see the potential of it and I was working the internet in dial-up modem days and look how it has evolved – it was a good bet if you like . From a human psychological or a human desire point of view don’t yet buy the Metaverse – happy to be proven wrong !

7) WHAT ABOUT BITCOIN?

“It is the best form of money ever created, but taking Bitcoin and making it pervasive and adopted worldwide and any region is beginning to happen but has got years and years to go. The idea is amazing, making it a reality and getting people to use is by far the hardest thing of all . Just because it is there and a great invention doesn’t mean it is going to work.“