A blog post written by Isaac Urio (EMBA 2023)
“What’s it like being an entrepreneur?”, I sometimes get asked.
I often answer using an African savannah metaphor, relating being an entrepreneur to being a lion, and an employee an antelope. Sure, being a lion appears to be fantastic. The king of the jungle rules the savannah, while the meek antelope seems to be little more than prey.
However, upon close analysis, one might rather choose to be the antelope. The lion, like the entrepreneur, must hunt for opportunities and successfully kill (win business) to eat, and fails far too often. The antelope (employee) however needs only follow the vegetation (perform its job) and the antelope’s food (salary) is guaranteed.Small wonder then, that lions number only a fraction when compared to antelopes. Statistically speaking, its far better to be the mundane antelope.
There is a third option though; be an investor; a tree. An investor gains a dividend without active effort and a tree likewise gains sunlight without having to hunt or wander. The antelopes therefore should not necessarily be envious of the lions, rather they should aim to eventually become a great baobab.
My Journey
Metaphors aside, my entrepreneurial journey began with a vision to bridge the technological gap in Tanzania. I saw immense potential in the region, with its growing economy and youthful population eager to embrace digital transformation, and I formed a small team of passionate individuals to create a company that would not only provide cutting-edge technology solutions but also empower local businesses to thrive in the digital age.
Our genesis was not easy, in the early days we faced scepticism from potential clients who were wary of entrusting their IT infrastructure to a new player in the market. We had to prove our worth through relentless dedication and by delivering exceptional service in a challenging environment.
Breaking New Ground
Our datacentre and cloud solutions however proved a game-changer for many businesses in Tanzania, as it allowed them to scale their operations without hefty investment in physical infrastructure. Our cloud solutions provided flexibility and cost-efficiency, enabling businesses to focus on their core competencies while we managed their IT needs. Setting up primary and secondary datacentres in the country enabled us to offer clients a level of service they were unaccustomed to, as well as meeting crucial new regulatory requirements. Challenges abounded though. I once met a visiting Google engineer at a local hackathon in Dar, who extended his hand to give me a congratulatory handshake upon hearing of our datacentre offerings. “You are a brave man” he chuckled, noting the high internet bandwidth cost and sporadic power grid reliability that characterised our operating environment at the time.
Advances into Fintech
The Fintech sector in Tanzania presented another exciting opportunity. With a significant portion of the population unbanked, we developed innovative solutions to facilitate financial inclusion. Of note is the cloud-based ERP platform we built to serve religious institutions, enabling 300,000 members across 300 institutions (and counting) to contribute with convenience, confidence and transparency. Additionally, we introduced advanced communication solutions that enhanced connectivity and collaboration for businesses across Tanzania. Our VoIP services, unified communication, Mobile VAS, USSD and messaging platforms ensure that our clients stay seamlessly connected.
Challenges and Company growth
However, it wasn’t all smooth sailing. One of the most challenging periods we faced emerged after the bankruptcy of two primary clients caused by abrupt regulatory changes, leaving us with outstanding payables that neared our previous year’s annual revenue at the time. We had to make some tough decisions, finance the losses and negotiate extensively with our vendors to remain in business. However, the goodwill earned, and lessons learned serve us well to this day. And today our company stands as a testament to what can be achieved with vision, perseverance, and a dedicated team. In 12 years we have grown from a small startup to a leading tech company in Tanzania, serving clients across various industries including being the key technology partner of the DSE. Our Fintech platforms now process nearly a million USD in monthly transactions, with innovative Bluetooth payment solutions on the way. We have expanded into Kenya with a significant equity acquisition in a strategic partner in that market, with eyes on the greater region and further expansion in Latin America. And on the horizon? Carbon Zero computing facilitated by sustainably powered datacentres. Our journey has been filled with highs and lows, but each challenge has made us stronger and more resilient.
Entrepreneurship, the EMBA network, and a closing thought
As I look back, I am grateful for the support and encouragement from my peers and mentors. I hope in turn my story inspires some of you to pursue your own entrepreneurial dreams, no matter where they may lead you.
It is said, that very morning as the sun rises in Africa, in order to eat, a lion must outrun the slowest antelope, whilst in order to survive, an antelope must outrun the fastest lion. It follows therefore, that whatever you are, when the sun rises, you better be running. Unless of course, you are a baobab tree.
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