Ashish Thakkar, dubbed Africa’s youngest billionaire, says business opportunities are increasing across the continent and that it is up to companies and entrepreneurs to move to take full advantage of these prospects.
The 30-year-old Ugandan is himself a serial entrepreneur, who started his first company at the age of 15. He is the founder of Mara Group, which comprises numerous holding companies that operate in 26 countries.
Thakkar is deeply involved in commercial and philanthropic initiatives in Africa, and the Mara Foundation, the nonprofit social enterprise of Mara Group, focuses specifically on emerging African entrepreneurs.
The foundation works to create sustainable economic and business development opportunities for young business owners through its Mara Launchpad incubation centres and the Mara Launch Fund.
The foundation lends support, such as mentorship, funding, incubation-centre workspace and business training, to African entrepreneurs.
“These support services will transform entrepreneurs’ business ideas into profitable and thriving business entities that will employ other Africans and contribute to the local and national economies. Mara’s strength is that it understands how to operate in markets. We have 8 500 employees and the principle we live by is that, whatever we do, we must have a positive social impact,” he said at a recent forum hosted by the Gordon Institute of Business Science forum, in Johannesburg.
He added that Mara Group believed in game changing and that “whatever we do, we do above board”.
Thakkar added that Africa was changing and that businesses needed to think practically. Further, regional integration was important and a huge advantage; however, he noted that, while African governments had previously favoured foreign investors significantly, there was a huge mindset shift in most of Africa.
“Values and ethics are important to keep in check. Wealth should never be a measurement of success. It is how you make a difference and how you change things. The sky is not the limit. We, as Africans, are the future,” he concluded.