Kwabena Owusu-Agyeman is a Ghanaian living in the Netherlands. He is the Managing Director and founder of New Africa Impact Fund. Kwebena is part of the Zidicircle Diaspora Entrepreneurship Bootcamp 2020
What the venture does:
New Africa Impact Fund (NAIF) is a diaspora led fund providing the diaspora with the opportunity to take ownership of the biggest problem facing SMEs in Ghana, which is affordable funding. In line with their values of trust, integrity and honesty, NAIF identify and manage the fund winners to ensure the investors get a return on their investment.
How the business idea and venture name came about:
Kwabena’s passion for ownership and business development was the genesis of the idea.
I believe there has to be a shift in our mindset from “what do you do” to “what do you own”.
In order to promote ownership through business development, the venture was set up to give people living in the diaspora the opportunity to be owners, investors, problem solvers and be part of the entrepreneurial success story of SMEs in Ghana.
3 key pieces of advice from Kwabena’s journey to fellow entrepreneurs:
- Right people + Right environment
Engage and build relations with positive people in an environment that challenges your ideas and dreams. It makes you a better entrepreneur.
2. Learn from your passion
We often hear, follow your passion, but I say learn from your passion. Sometimes your passion may not be commercially viable but take lessons from it and apply it to your business.
3. What is the worst that can happen? Go for it!
Why Kwabena took part in the Bootcamp:
I was looking for direction. In addition, I wanted to challenge and test the feasibility of my idea to see if it was commercially viable. Lastly, I wanted a reputable facilitator to mentor my journey.
What he has learnt so far from the program, and how he has applied the lessons learnt:
Through the Bootcamp, I have developed a mindset of helping customers solve their problems rather than falling in love with an idea and imposing it on customers. My interactions and findings made me continuously review and update my business model canvas.
The New Africa Impact Fund we hope to see in 3 years:
In three years, the fund should have invested in at least five SMEs in Ghana.
Experience with the Bootcamp:
The Bootcamp was a rewarding experience for me. The sessions were of a high standard, the facilitators were experienced, and successful entrepreneurs in their own ventures. The participants were motivated and eager to learn. I will encourage entrepreneurs to join the next edition.
Advice for entrepreneurs in the diaspora:
COVID 19 taught us the importance of having entrepreneurship skills such as flexibility and adaptability to changes in the market. Do not give up, ask the right questions and support the community.