Last week, I had the chance to talk a little about Bolt’s experiences operating in Africa at the African Mixer event hosted by Latitude59.
Being completely honest, having made a career out of helping everyone else prepare for public speaking engagements, I was quite nervous to put the theory into practice myself. However, I had a wonderful time sharing the stage with Richard Kesküla from Planet42, and Hakeem Alavi, an IT student from Kenya.
My 2 cents for anyone thinking of starting a business in Africa:
🔸 There is no golden ticket to success, or a winning business idea. It’s a hustle every day and a combination of all the decisions you make along the way. Make sure you always put your customers first and success will follow.
🔸Like there is no European culture, there is no such thing as African culture. Africa is a continent with 54 different countries and 3000 ethnic groups. Take time for thorough research and localisation to cater to the needs of people from your target region. That includes tailoring the product/service itself, as well as the marketing tactics and messaging around it to resonate with the local communities.
🔸While the franchise model has worked well for some markets at Bolt, don’t be afraid to start or expand your business with your own forces. However, you do need someone local on the ground that knows the cultural space. You can avoid a lot of mistakes, especially in marketing and PR, by trusting the locals:)
🔸It’s a continent with enormous potential and people with bright minds. Hire locally, the best talent comes from all kinds of backgrounds.
Big thanks to Liisi Org, CEO of Latitude59, the Ministry of Foreign Affairs of Estonia, and its Ambassador at Large for Africa, Daniel Schaer, for fostering connections between Estonia and Africa.
