In 2016, we had the privilege to work with amazing people and organizations looking to build, grow and expand businesses in Africa. From the local entrepreneur in Ghana to the diaspora entrepreneurs in US or UK, we saw first-hand how challenging it is to realize business opportunities on the continent. Some of challenges include lack of market understanding, lack of financing support, lack of coaching and the lack of role model.
While we are excited about the number of Africans who are looking to turn their business ideas into a reality, we are also concerned about the steps they take to make it happen.
At KASI Insight, we define market research as the process by which one identifies the main customer pain points in order to provide the right solution. It is critical to understand the people and the place. For the majority of entrepreneurs we’ve dealt with, the value of market research is understood but few are actually willing to spend the time and resources to run market research. For those who were brave enough to do it, they’ve realized the power of data and insights. For us, it has been humbling to see each of their eureka moment after reading our report and discovering the insights. They have been able to confirm some of their assumption but also uncover hidden opportunities.
This year, we decide to share some these best stories and showcase these entrepreneurs – the data driven leaders of Africa. They are not founders of start-ups you have heard of on tech cabal or tech crunch. Rather, they are entrepreneurs who are on the ground, working to uncover the real pain points to come up with relevant products and services. They understand that customers are at the heart of any business. They understand it’s always cheaper to spend to find the right problem, than to build the wrong solution. They understand the difference between the big headlines and the reality of local market sizing.
By sharing one story every month, we hope to give them the recognition they deserve and inspire others to follow. Africa is a big opportunity but only a few will realize its potential.
About KASI Insight
KASI Insight is Africa's most innovative research and advisory firm. We solve problems that present challenges for most firms doing business in Africa - lack of fresh local market data and the need for contextual insight and innovative research methods. We provide market research, actionable insights and data driven advice from over 20 countries in Africa.
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