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Connecting African entrepreneurs

Cape Town – Entrepreneurship might be a lonely business, but an international organisation with plans of African expansion is helping local business owners find a space to connect and share their journey with each other.

Entrepreneurs’ Organisation (EO) announced its growth plans into Africa and South Africa on Friday, with Cape Town businesswoman Lesley Waterkeyn heading up the South African task force.

Head of marketing company Colourworks, Waterkeyn said the organisation brings a group of high-end entrepreneurs together to learn from each other and teach each other how to live a balanced life at work and at home.

“EO has identified South America, Africa and China as their major growth points,” Waterkeyn told Fin24 on Monday.

Global network

EO has a global reach of more than 10 000 business owners in over 46 countries, while the South African chapter, established in 2005, has 111 members in Johannesburg and 70 in the Cape.

The Cape Town chapter brings in a collective $3 536m in revenue. Members of EO must be the owner, founder or majority stakeholder of a business earning a minimum of R10m in the most recent fiscal year.

Waterkeyn identified champions in Durban and Pretoria to set up new chapters there, where they hope to get 25 members within the first year.

Focus on Africa


EO has 75 members across East and West Africa identified Kenya, Tanzania, Uganda, Rwanda, Ethiopia in East Africa and Nigeria and Ghana in West Africa as target markets and aims to reach 750 entrepreneurs by July 2018 across the African continent.

The establishment of these new chapters in Africa will benefit not only the entrepreneurial communities of the new chapters, but the current members of existing chapters, many of whom already have significant business interests in many of these fast growing economies.

“South Africans know that Africa is where the business growth opportunities are, but they are still scared of Nigeria and Kenya,” said Waterkeyn. “With a group of trusted entrepreneurs, EO members will be able to access more business opportunities with like-minded business owners.”

One of EO's tools for entrepreneurs is its Bootcamp, with videos training entrepreneurs how to get business fit.

Watch:



Influential community


“The global network enables small and large business owners to learn from each other leading to greater business success,” said Waterkeyn. “This continental expansion is a step toward fulfilling the organisation’s vision of being the world’s most influential community of entrepreneurs. This aligns with our mission of supporting entrepreneurial education, and engaging global entrepreneurs to learn and grow.”

Waterkeyn said EO had changed her life. “In the last five years, my company has tripled in size, which I can attribute in part to the impact EO has had on me and my business,” she said. “We meet once a month to share experiences, related both to our business and our personal life.”

“The support of the community helps me through the difficult times,” she said. “Being an entrepreneur is a lonely business. The people in EO help me through that process.”



-Fin24.

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