Cover
Index 3 5 11 15
Administration From the Editor Doing business in Ghana Crowdfunding in South Africa
Advertisers: 6 TheDifferentiator 8 OTM Mobile 12 Hybrilearn 16 Eyethu Radio 18 Bernice Botha
Advertising To advertise contact Theo Koekemoer - theo@thedifferentiator.co.za or Johan van Zyl - johan.vanzyl@thedifferentiator.co.za Rates: R10,000 per issue Different is now listed on a VAS platform with a subscriber base in excess of 1 million people.
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From the Editor TheDifferentiator assists entrepreneurs at various levels to be succesful.
Build top-notch business team
In my opinion, these are some of the most important characteristics entrepreneurs could focus on.
No one person can build a successful business alone. It’s a task that requires a team that is as committed as you to the business and its success.
Ask for the sale An entrepreneur must always remember that marketing, advertising, or promotional activities are completely worthless, regardless of how clever, expensive, or perfectly targeted they are, unless one simple thing is accomplished--ask for the sale. This is not to say that being a great salesperson, advertising copywriting whiz or a public relations specialist isn’t a tremendous asset to your business. However, all of these skills will be for naught if you do not actively ask people to buy what you are selling.
Your business team may include family members, friends, suppliers, business alliances, employees, sub-contractors, industry and business associations, local government and the community. Of course the most important team members will be your customers or clients. Any or all may have a say in how your business will function and a stake in your business future. In the next issue we will look at other characteristics.
Johan van Zyl
Become a shameless self-promoter (without becoming obnoxious). One of the greatest myths about personal or business success is that eventually your business, personal abilities, products or services will get discovered and be embraced by the masses that will beat a path to your door to buy what you are selling. But how can this happen if no one knows who you are, what you sell and why they should be buying? Self-promotion is one of the most beneficial, yet most underutilized, marketing tools that the majority of business owners have at their immediate disposal.
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Doing business in Ghana Ghana is a member of the Economic Community of West African States (ECOWAS), a regional economic organization comprising a thriving market of 250 million people in West Africa. Formed in 1975, ECOWAS allows for the free movement of goods and people across the borders of its 16 member nations. Since its creation, implementation of the ECOWAS protocol on trade has greatly enhanced intra-regional trade as well as Ghana’s status as an economic force in the sub-region.
Export free zones where goods traded with other countries are exempt from customs duties and laws Immediate access to all markets of the Economic Community of West African States (ECOWAS) Quota-free access to U.S. and European Union markets Member of the World Trade Organization (WTO) Official language: English If you consider expanding your business into West Africa, Ghana is a good place to start.
Ghana’s trading access to other African nations is expected to increase significantly in the coming years, For more infotmation emaill Williams especially as African nations move Rich in Ghana. toward implementation of the African Economic Community, established by email: wrich30@gmail.com African heads of state and government in 1991. The AEC will take effect in 2025. Advantages for Doing Business in Ghana Stable, multi-party government Demonstrated commitment to market liberalization Ongoing privatizations in key economic sectors Expanding stock market Competitive labor force Ongoing infrastructure development Different 11
Crowdfunding in South Africa Fund raising is the act of raising money for your idea or business. Crowdfunding is a way of doing that by raising funds from a crowd (1-to-many). The other way to raise funds is to raise money 1-to-1 from banks, investors, and other funders. Crowdfunding can take the form of equity (people taking ownership in your business), debt (people lending you money), pre-orders (they contribute money in exchange for getting your product/service), or charity (they simply give you the money). Those giving the money can be many different people or can also include institutions (eg banks lending you through crowns funding campaign or sophisticated investors buying equity through equity crowdfunding).
Rules and regulations relating to the industry are gradually coming into play in Africa. This is a good sign for the African FinTech field; it means that the bodies responsible for regulating developments within the sector are seeing the need for clear guidelines that avoid confusion. This in turn suggests that the industry is evolving, suggesting that African countries could become notable players on the global FinTech field. Will you see a Different Crowdfunding platform soon? Maybe. If you have any questions or suggestions please contact Theo Koekemoer email: theo@thedifferentiator.co.za
The main reason crowdfunding has been rising is because technology has made it possible (Internet, software, online payment processing, etc). The crowdfunding industry in Africa is expanding, becoming more diverse and more widely recognised in the process. Recent reports explain that South Africa’s Financial Services Board are planning to rule whether or not specific rules relating to equity crowdfunding will be created. This ruling will be made by the 30th June this year. According to an article on the topic, the ruling follows the creation of a crowdfunding research report by the board. The report, which will not be made public, was designed to gain insight into supervision of related activities elsewhere.
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