Every week we receive several request from real estate entrepreneurs looking for funding for projects all around Africa. The narrative seems to be that their plans are hinged on raising some form of funding.
Speaking to them I always get the sense that, majority of them appear to believe that their success depends on securing external investment.
The reality is that in Africa today less than 1% of real estate projects that are proposed are funded. And investors just don't fund companies until they have some level of validation or traction.
One of the the core messages of SAPIS is that entrepreneurship is not just about funding even though it appears to be. Entrepreneurship is about customers, revenue and profit.
Some of the best entrepreneurs in the Africa have faced rejection from investors but have found a way to get their project to a level where it has some sort of validation or traction .
Whilst I am aware of the importance investment is for your business I don't believe its the the most important part. Gaining knowledge on business execution and strategy is invaluable.
So our narrative is that the other 99% can also succeed , They can acquire customers, build revenue and create jobs and these are things you do not necessarily need investment for.