By Chanel Retief, Nicole Pillay and Oluwatomisin Amokeoja Art Direction: Manelisi Dabata Videography: Thabo Mathebula Photography: Katlego Mokubyane ; Assistant: Sbusiso Sigidi | Studio: NewKatz Studio, Johannesburg  Styling: Deneal Van Wyk Hair &amp; Makeup: SnehhOnline Beauty



Africa’s biggest economies often churn out startups on a regular basis and some of these businesses go on to become key players in the growth of the continent. But what of Africa’s smaller, emerging economies? 



According to a 2023 report by Africa: The Big Deal, 29% of the startups that raised $100,000 or more in 2023 were located outside the big four regions, namely Nigeria, South Africa, Kenya and Egypt. Donaldson Sackey, a former international footballer-turned-entrepreneur from Togo (a narrow strip of land in Africa’s West coast), who has helmed a fashion business and now has interests in fintech and energy, says that being a serial entrepreneur in one of Africa’s smaller economies has its pros and cons.


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“On the one hand, there is often a sense of possibility and economic potential, as smaller economies might provide niches that have yet to be completely explored or tapped into. However, in some smaller economies, regulations may be unclear or inconsistently enforced, making it Sackeychallenging to understand what is required to operate legally and comply with regulations. 



Despite the hurdles, becoming a serial entrepreneur in a tiny economy may be quite rewarding.” Therein exists massive opportunities to create significant impact on the local economy. 



“I believe that as a growing entrepreneur, you have a lot of ideas in your daily life, but the most important thing is to actually understand them and put them into action. You must understand that you are in it for the long-term and that it will not become the largest company overnight.



”Sackey says he is now involved in coaching aspiring business owners, and is committed to education, particularly in the field of technology. 



“I think that young people in Africa, and particularly in Togo, are intelligent and creative, but there are often gaps in their educational opportunities, so I provide them with the knowledge I have gained from my courses, many of which are offered online to learn more about various business sectors.”

Sustainable data pie chart

Footballer-Turned-Entrepreneur From Togo On Making It Work In Africa’s Smaller Economies

From fintech to foodtech solutions; from beauty brands to biotech infusions, FORBES AFRICA’s inaugural list of Small Giants across Africa showcases the tenacity of homegrown businesses and their impact on the communities they serve. Their pan-African CEO-founders and leaders are making giant strides in progressing Africa’s growth narrative, prioritizing ideas and innovation.



By&nbsp;Chanel Retief, Nicole Pillay and Oluwatomisin Amokeoja Art Direction:&nbsp;Manelisi Dabata Videography: Thabo Mathebula Photography: Katlego Mokubyane ;&nbsp;Assistant: Sbusiso Sigidi |&nbsp;Studio: NewKatz Studio, Johannesburg&nbsp; Styling: Deneal Van Wyk Hair &amp; Makeup:&nbsp;SnehhOnline Beauty



Tonye Irims founded WiSolar, an on-demand prepaid solar utility, in 2016. It focuses primarily on a power purchase agreement (PPA) business model. WiSolar installs and maintains the solar infrastructure in customer homes, and then sells that power to the customer via the app as re-quired per kWh – this could be for a 10- or 15-year term. According to the company, this business model allows property own-ers to install solar at no upfront cost.



When he first came upon the idea, Ir-ims set out to understand and learn more about solar technology. He also took a few trips overseas to find suppliers and de-termine how the company could connect mobile payments to solar electricity.



“When we started, it was kind of a dif-ficult time to sell solar to people because, first of all, people didn’t believe that solar electricity was the same as grid electric-ity – they felt that there was a difference in the electricity, so we had to explain to them [that] it’s the same thing, it’s just a different source,” he says.



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Irims created packages to make it easier for the customers to understand. The on-demand solar electricity platform is currently available in South Africa and Nigeria, however, the com-pany has plans to enter Zimbabwe, Rwanda, Tanzania, and the DRC in the future.



Irims advises future entrepreneurs: “It’s really a very difficult path. It’s not a sprint, it’s a long run. If you want quick wins, I don’t think entrepreneurship is for you… unless you’re ready to make a sacrifice, you’re ready to put in the discipline, and the consistency. And you also need to stay innova-tive as an entrepreneur – you need to actually look ahead. So, if you’re ready to sacrifice, ready to play the long game, it’s for you.”



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Tag: Small Giants 2024

FORBES AFRICA SOCIAL MEDIA

Footballer-Turned-Entrepreneur From Togo On Making It Work In Africa’s Smaller Economies

Small Giants: Nigerian Entrepreneur On The Power Of Solar And Staying Innovative