African billionaires are visionary entrepreneurs who have forged their paths, defied conventions, and built empires from scratch.
What makes their stories even more captivating is the fact that their growth hacks are anything but ordinary.
So, fasten your seatbelts and prepare to delve into the minds of these exceptional individuals as we uncover some of the growth hacks African billionaires use all the time.
Focus on vision-Dangote
Africa’s richest man, Aliko Dangote refused to bid for mobile licenses or buy oil blocks when he could easily have gotten them. According to him, they were not his game. He focused on what he knew how to do best and dug deeper into it.
Dangote said, “For me, it is better that I go into manufacturing than trading. Trading does not add value and is just a temporary thing because one can be trading today and tomorrow decides to shut down his shop. But manufacturing is where you will create massive jobs and also leave a legacy and the whole thing for me is to build something that I should leave as a legacy to future generations.”
Seize Opportunities-Patrice Motsepe
South African billionaire, Patrice Motsepe established his first mining company in 1994 named Future Mining. He started buying low-producing gold mines like Anglo Gold, Anglovaal and Harmony Gold at a time when the gold market was experiencing a slump and prices were favourable.
Motsepe later created African Rainbow Minerals believing that he could convert them into a profitable venture. Today, his company is one of the most successful Black Economic Empowerment outfits.
This shows that Identifying undervalued assets or opportunities and taking advantage of them can lead to significant growth.
Prepare to win- Strive Masiyiwa
Zimbabwean billionaire, Strive Masiyiwa hacked his way into the significant fortune he enjoys today with a readiness to win. His journey into telecommunications in Zimbabwe was laced with court battles, but he was undeterred.
Masiyiwa didn’t go to court without preparations. He got the best advice from lawyers at the bank and got the best legal team for the case. Beyond the team, the African billionaire selected one of the greatest legal minds his country and region had ever produced; Advocate Adrian De Boubon for the presentations in court. After a five-year legal battle, Masiyiwa overcome the government’s opposition and launched Econet Wireless in 1998.
Hard work-Tony Elumelu
Nigerian Investor and Entrepreneur, Tony Elumelu in a Facebook post said, “I owed my accelerated career and successes to two things: hard work and luck, and I know firsthand how these factors are inextricable in success.”
Those who have worked closely with Elumelu can attest to the fact that he loves to work hard. Reports say he was often the last to leave the office in the evening and the first to resume in the morning. Even when he had to travel abroad, Elumelu reportedly stayed committed to all the things that required his approval.
Pursuit of interest- Mo Ibrahim
Sudanese billionaire, Mo Ibrahim worked for several telecommunications companies, before founding Celtel. Mo who didn’t know how profitable the industry was at the time said, “I found the work thrilling and absorbing. I certainly had no idea it was going to make me a lot of money.“
His interest in telecommunications made him take Celtel through the London Stock Exchange before he sold it to a Kuwiat-based mobile telecommunications company. The African billionaire who founded the Mo Ibrahim Foundation in 2006 has lent his support to the Broadband Commission for Digital Development, a UN initiative which aims to spread the full benefits of broadband services to unconnected people.
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