Connect with us

Entrepreneurs

‘Either You Are Number One Or You Are Out’

Technology entrepreneur, Kelvin Nyame, is changing how people buy and sell property in Ghana by creating an online marketplace for real estate.

Published

on

In the quiet residential area of North Ridge, a four-acre piece of land is being developed into a 200-unit apartment complex. The development in Accra, Ghana, is part of a trend of new real estate projects springing out from previously abandoned parks.

“This is a very competitive market, there are not many people with a lot of disposable income, so the market for potential buyers is very small with everybody going after the same pot,” says Godwin Ofori, real estate agent at BCD Properties.

Skyrocketing prices for properties is making people desperate to find bargains, says Ofori. Kelvin Nyame, the Co-Founder of meQasa, is hoping to ease their anguish.

meQasa is an online property listings site connecting buyers to more than 23,000 commercial and residential properties across Ghana.

“There are about 27 million people in Ghana and we look at how many people have the budget to rent the types of houses that are available for rent, or office spaces, then you look at people who have disposable income. We feel that the market is very small, so either you are number one or you are out of the game and to be number one you need to have three times the content that your competitors have,” says Nyame.

Nyame believes content is king.

“In the listings, we are the highest right now, and traffic wise we have closed the gap with our competitors. We are doing about 40,000 serious seekers with over 290,000 page views per month. More than half of the 40,000 are converting and what that means is that they are sending emails to our agents and calling our agents to enquire about our properties and we hope to grow this number by up to 50,000 to 60,000 by December,” he says.

Nyame came up with the idea, along with Rashad Seini and Kofi Amuasi, at the Meltwater Entrepreneurial School of Technology (MEST).

“So the whole idea of MEST is to learn software and online business. The program is structured such that you do capstone projects and in the capstone projects you form teams with everybody. The idea is that by your final capstone project you will want to develop your idea into a business and meQasa was one of the last two projects we were thinking of making into a business. After analysing our expertise and our skill set we decided to go for meQasa.”

Nyame and his team had to adopt a lean strategy from the start.

“The market is very small but there were a lot of big players and we just had $90,000 seed investment from MEST to operate with for two years. So if you do the maths, you can only spend about $3,000 per month and this includes employee salaries, office space, marketing and product development, so we were very limited and everyone was after the same customers, so it was very tough.”

There is, however, a light at the end of the tunnel. At the end of 2015, meQasa secured a much-needed investment of $500,000 from Frontier Digital Ventures, a global venture capital firm headquartered in Kuala Lumpur, Malaysia. Nyame is using that cash injection to streamline the business.

“We started monetizing two months ago and we have what we call subscription for developers, so every developer has a fee they pay for a number of months with different bundles. We also have banner ads and also sell our newsletter. For agents, we have products that are customized as well and by 2017 there will be space for every agent that wants to list on the site.”

In just three years, meQasa gained a significant percentage of the property listings business, according to Nyame.

“The early days were tough. We did a lot of research but we made some assumptions. We tried models. As a business you want to look at how you can make money and some of the models didn’t work. One of the models was that we recruited agents who we called meQasa real estate agents. So basically we would give them some kind of resources and an ID card so they know that they work for us but they also have their own real estate business. The idea was to send them leads so that when they close the deal we share the commission but that didn’t work.”

“We also hired a meQasa agent relationship manager to manage the agents, which also didn’t work. We made a lot of mistakes by also looking at the US market and what will work over there, but again that is a very advanced market so it wouldn’t work here. Now we are looking more at emerging markets in Southeast Asia, who are not too far from us in terms of developments but they managed to find solutions.”

The company plans to expand to other African countries and Nyame hopes he’ll soon be the top player in the continent’s property game.

Continue Reading
Advertisement
Comments

Agriculture

Green-Sky Thinking

Published

on

In Johannesburg, city-dwellers like Linah Moeketsi have taken the future of sustainable farming into their own hands. Where land is becoming scarce, they look to the skies.


Doornfontein is one of Johannesburg’s older inner-city suburbs with decaying buildings and dingy alleys that wear a dour, monochrome look.

Daily commuters and street surfers jostle with delivery vans and mountains of metal scrap but the grey of the concrete city makes it hard to believe that there could be a patch of green in a most unlikely location.

READ MORE| No Seat At The Global Table For Indigenous African Cuisine

Above the humdrum of life here is a rooftop hydroponics farm looking down on the city, but upwards to a new route to restoration and urban preservation.

Atop the eight-floor Stanop building – offering a breath-taking view of the city and the landmark Ponte Towers in the distance – one woman has made it her mission to turn a grimy grey terrace into a green lung on the city’s skyline.

“City life is taking on a totally new direction… even people who think they couldn’t one day farm, find themselves on rooftops,” Linah Moeketsi tells FORBES AFRICA.

Moeketsi grows herbs, used to treat non-communicable diseases (NCDs), in a 250m x 500m greenhouse on the building’s terrace. But her rooftop farm is sans any soil – it uses a hydroponics system.

“I think because we are in the city and we would like to produce for people in the city, hydroponic farming is one of the answers because you can actually harvest more than twice the produce, and the growth rate is quicker and there is produce that you can have throughout the year that people demand because it is in a controlled environment,” she says.

On a windy Wednesday morning in October, we meet Moeketsi at her aerial green facility, a couple of days before she is to send some of her plant produce to the market.

She talks about her journey as an offbeat farmer. It all started when her father fell ill in 2013, when doctors failed to correctly diagnose his disease.

“They couldn’t see that he was diabetic. He didn’t show the signs of diabetes, but he had this foot ulcer that just wouldn’t go away,” she says.

“The future of city farming is great simply because we have more and more young people getting into this space. Even though it’s farming, they are looking at it from a very different angle.

Moeketsi decided to do her own research, so she read up books on African medicinal plants and used some herbs that belonged to her late mother, who had been a traditional healer.

“It took me a good eight months to help my dad and I actually saved him from having an amputation.”

The news of Moeketsi curing her dad’s diabetes using herbs spread. Sadly, her father died in 2016, at the age of 87. But she is proud to have helped prolong his life.

“So he passed away in his sleep, not sick, nothing, he was just old. But he was always grateful; he was like, ‘even when I die, I’m going to die with both my limbs’, so we would make a joke about it.”

READ MORE| Businesses At The Heart Of A Greener Future

After her father’s demise, Moeketsi rented some land and turned her knowledge on natural herbs into a fully-fledged farm. However, when the owner of the land returned, she was forced to vacate.

Land was always going to be a problem in the city. But instead of giving up, Moeketsi looked to the skies.

“Because of this passionate drive for an answer, I found myself researching what’s happening outside Gauteng and South Africa, and I saw in Europe, they were farming on rooftops,” she says.

In 2017, her dream became a reality when she secured a deal with the City of Johannesburg as part of an urban farming program, and started the rooftop project a year later.

When we visit her greenhouse, we are welcomed by the sweet lingering scent of herbs. It’s hot and humid, and two fans whir away to cool the air.

Moeketsi walks around the greenhouse wearing dark glasses and a white jacket, with a syringe in hand – she could easily pass off as a medical doctor.

She elaborates on the hydroponics system. There are four pyramids, each attached to their own reservoirs of water. On each pyramid, different plants, ranging from spinach, lettuce, sage, parsley, basil and dill, rest on beds with pipes connecting them to the reservoirs. Moeketsi plucks out one of the pipes and inserts the syringe; water spouts out of the tube and she returns it to the bed.

“Twice a day, you have to check that water is actually going through the pipes, because that’s how the plants get water and nutrients,” she explains, as she unblocks a pipe using the syringe. She says it’s one of the best ways to farm using little water.

“When you put in certain plants in the greenhouse, you know you are guaranteed sustainable farming because you can produce those plants and harvest them,” she says.

Moeketsi adds that this allows her produce to stay consistent season after season.

“So, from that point of view, it makes the city more sustainable in terms of food produce that is easily accessible and cost-effective for the consumer because not everyone around here can afford the high prices of food but they can at least afford what we sell, whether it is at R10 ($0.5) or R15 ($1).”

As Moekesti continues to tend to the plants, a farmer she works with walks in and begins filling up the reservoirs.

Lethabo Madela has known Moekesti for almost six years.

“When you look around Johannesburg, there is no space, so rooftops have saved us a lot, especially those of us that love farming,” says Madela. “I’m learning a lot and I think she [Moekesti] changed the whole concept of farming for me because I used to farm vegetables. I didn’t know culinary herbs or medicinal herbs.”

Moeketsi speaks of other farmers around the city who have taken to the rooftops to farm plants such as strawberries, lemon balm, spinach and lettuce.

READ MORE| Everything You Need To Know About The Future Of Pesticides And Bees

In a suburb called Marshalltown, a 10-minute drive from Moeketsi’s farm, Kagiso Seleka farms lemon balm also using hydroponics.

He produces sorbet and pesto from his produce which is then used to make ice cream.

“It [hydroponics] is great for farming sensitive plants in terms of temperature. Lemon balm does not like frost. But it’s better to grow even out of season so you can set a higher price,” he tells us.

However, he says hydroponics farming is a luxury not many farmers can afford.

“It [hydroponics] does have a bit of a higher capital upfront, but you get a higher yield and higher quality, so people are willing to pay more. Hydroponic planting saves about ninety five percent of water soil farming in a water-scarce country,” says Seleka.

READ MORE| Local Solutions Can Boost Healthier Food Choices In South Africa

“We do have water shortages, and I know people are on the whole ‘organic trip’ but, is it more important to have an organic plant versus a water-saving environment?”

The Program Coordinator for Agriculture at the City of Johannesburg’s Food Resilience Unit, Lindani Sandile Makhanya, says there certainly are more rooftop farmers in Johannesburg now than ever before.

Converting idle terraces into avenues of profit is becoming a norm. There are new rooftop farms being set up every day, offers Makhanya.

He regularly visits Moeketsi’s farm to check on the progress and collect produce to sell.

“Urban farming in Johannesburg is rising, mainly because the idea of producing our own food is very important because most people are moving to urban areas and therefore it stands to reason that we have to try to produce as much as possible,” says Makhanya.

“[There is growth] even in animal production, although we are moving away from the bigger numbers, but we are involving the smaller ones; because of the space issue, they are increasing overall.”

For Moeketsi, her farm has changed her life and given her hope for a better future. In addition to the teas, tinctures, ointments and medicinal products she processes from her plants, she plans to include more by-products such as syrups in the future.

“The future of city farming is great simply because we have more and more young people getting into this space. Even though it’s farming, they are looking at it from a very different angle,” she says. “That is why the city is changing and rooftop farming is going to get bigger and bigger.”

Clearly, farming in Africa is covering exciting new ground.

Continue Reading

30 under 30

Applications Open for FORBES AFRICA 30 Under 30 class of 2020

Published

on

FORBES AFRICA is on the hunt for Africans under the age of 30, who are building brands, creating jobs and transforming the continent, to join our Under 30 community for 2020.


JOHANNESBURG, 07 January 2020: Attention entrepreneurs, creatives, sport stars and technology geeks — the 2020 FORBES AFRICA Under 30 nominations are now officially open.

The FORBES AFRICA 30 Under 30 list is the most-anticipated list of game-changers on the continent and this year, we are on the hunt for 30 of Africa’s brightest achievers under the age of 30 spanning these categories: Business, Technology, Creatives and Sport.

Each year, FORBES AFRICA looks for resilient self-starters, innovators, entrepreneurs and disruptors who have the acumen to stay the course in their chosen field, come what may.

Past honorees include Sho Madjozi, Bruce Diale, Karabo Poppy, Kwesta, Nomzamo Mbatha, Burna Boy, Nthabiseng Mosia, Busi Mkhumbuzi Pooe, Henrich Akomolafe, Davido, Yemi Alade, Vere Shaba, Nasty C and WizKid.

What’s different this year is that we have whittled down the list to just 30 finalists, making the competition stiff and the vetting process even more rigorous. 

Says FORBES AFRICA’s Managing Editor, Renuka Methil: “The start of a new decade means the unraveling of fresh talent on the African continent. I can’t wait to see the potential billionaires who will land up on our desks. Our coveted sixth annual Under 30 list will herald some of the decade’s biggest names in business and life.”

If you think you have what it takes to be on this year’s list or know an entrepreneur, creative, technology entrepreneur or sports star under 30 with a proven track-record on the continent – introduce them to FORBES AFRICA by applying or submitting your nomination.

NOMINATIONS AND APPLICATIONS CRITERIA:

Business and Technology categories

  1. Must be an entrepreneur/founder aged 29 or younger on 31 March 2020
  2. Should have a legitimate REGISTERED business on the continent
  3. Business/businesses should be two years or older
  4. Nominees must have risked own money and have a social impact
  5. Must be profit generating
  6. Must employ people in Africa
  7. All applications must be in English
  8. Should be available and prepared to participate in the Under 30 Meet-Up

Sports category

  1. Must be a sports person aged 29 or younger on 31 March 2020
  2. Must be representing an African team
  3. Should have a proven track record of no less than two years
  4. Should be making significant earnings
  5. Should have some endorsement deals
  6. Entrepreneurship and social impact is a plus
  7. All applications must be in English
  8. Should be available and prepared to participate in the Under 30 Meet-Up

Creatives category

  1. Must be a creative aged 29 or younger on 31 March 2020
  2. Must be from or based in Africa
  3. Should be making significant earnings
  4. Should have a proven creative record of no less than two years
  5. Must have social influence
  6. Entrepreneurship and social impact is a plus
  7. All applications must be in English
  8. Should be available and prepared to participate in the Under 30 Meet-Up

Your entry should include:

  • Country
  • Full Names
  • Company name/Team you are applying with
  • A short motivation on why you should be on the list
  • A short profile on self and company
  • Links to published material / news clippings about nominee
  • All social media handles
  • Contact information
  • High-res images of yourself

Applications and nominations must be sent via email to FORBES AFRICA journalist and curator of the list, Karen Mwendera, on [email protected]

Nominations close on 3 February 2020.

Continue Reading

Entrepreneurs

The Life And Wisdom Of Richard Maponya

Published

on

He was one of the big names in business in Africa; as gentlemanly. as he was shrewd. He fought the odds and apartheid to stake his place in business and inspire millions of his countrymen to do the same.

Richard Maponya – the doyen of black business in South Africa – passed away in the early hours of January 6, after a short illness. Maponya turned 99 on Christmas Eve near the end of a long and fruitful life that saw him dine with the Queen, laugh with Bill Clinton and chauffer his old friend Nelson Mandela. Mandela asked Maponya, who owned a car dealership, to pick him up at the airport in Johannesburg after his release from prison in 1990.

Ï picked him up at the airport and that was the most frightening time of my life. We were chased by people on foot, helicopters, motorbikes and cars. Everyone just wanted to touch Mandela. They could kill him just trying to touch him,” Maponya recalled to Forbes Africa in a cover story in March 2017.   

Mandela was a close friend of Maponya since the 1950s. The future president, then a young lawyer   helped Maponya set up his first business against the restrictive apartheid laws that shackled black business.

Maponya wanted to open a clothing store in Soweto, Johannesburg; the authorities said no. Mandela lost the fight for the clothing store, but did manage to secure him a license to trade daily necessities. This opened the way for Maponya to start out with a milk delivery business that was to prove the foundation of his fortune.

More than half a century on, Mandela, then a former president of South Africa, beamed with pride, in 2007, as he opened the first shopping mall in Soweto.

Maponya Mall had taken the canny businessman a good deal of patience to put together. He acquired the land in 1979 – the first black man to secure a 100-year lease for land in Soweto – and spent many more years building up the mall.

“Ï fought for 27 years for that mall and was many times denied; they actually thought I was dreaming. When Nelson Mandela cut the ribbon to open the mall, that was the highlight of my life,” Maponya said years later.

It was a mile on a road less travelled by Maponya in a long journey from the tiny township of Lenyenye in Limpopo in northern South Africa where he was born. He moved across the province to Polokwane to train as a teacher and then, like many young men of his generation, moved south to Johannesburg in search of his fortune.

In those days, the gold mining city was booming, but only the few saw the fruits. Maponya was blocked at every turn as he tried to make his way in business; he won through making a fortune from property, horse racing, retail, cars and liquor.

Maponya mentored many black entrepreneurs and inspired many millions more he had never met. One of them was Herman Mashaba, the former mayor of Johannesburg, who made his own fortune with hair care products.

“To myself and the people I grew up with he was an inspiration to all of us to get into business…If he had started out in business in a normal world there is no doubt he would have been even bigger than he was,” Mashaba told CNBC Africa.

Maponya will be mourned by the millions who were inspired to follow him and by a business world that is richer, in more ways than one, for his nearly a century of hard work in which retirement was never an option.

“People who retire are lazy people. You retire and do what? Bask in the sun?  I am not that type of man,” he said in 2017 at the age of 96.

He could never be.

By Chris Bishop  

Continue Reading

Trending