#AfricaSokoniTurns3: Questions for our CEO as we turn 3!

AfricaSokoni officially turned 3 earlier this year, January 12th to be exact and to mark this great occasion we were lucky enough to sit with our CEO, Mr. Ebrima Fatty as he walks us through how the first 3 years have been, Covid and the effect it has had on businesses, his goals for AfricaSokoni for the next 3 years and where he hopes AfricaSokoni will be at its 10th anniversary.

This is what he had to say:

1. When you founded AfricaSokoni, what are 3 things you wanted to have achieved by the 3rd year?

As you know AfricaSokoni is all about empowering the SME sector across Africa. Our goal from the onset was to bring shopping to the African consumer’s doorsteps and build a platform committed to promoting and selling African products to consumers and businesses, locally and internationally. We are also building the technology infrastructure that connects and empowers merchants, retailers, and informal logistics operations.

2. What are your goals for the next three years?

At AfricaSokoni, we have entered the phase of consolidation and growth. Our goals for the next three years are to continuously grow our customer base, consolidate and forge new partnerships, broaden the product offerings by building and deploying the other verticals in our business model. These are key cornerstones in our strategy to grow organically.

We are also now ready to roll out our expansion road map, as we are at a stage that we are prepared to expand into other African markets. AfricaSokoni is an African brand and we intend to be present in every corner of the continent.

We are also innovating fast, not for the sake, but by virtue of creating new values for our customers. AfricaSokoni is a customer-centric company; we place our customers at the center of everything we do, we are obsessed with addressing their every need and concern, and we innovate for and on their behalf.

3. If you could go back in time, what’s the one piece of advice you would give yourself 3 years ago?

I think I’ve repeated this, that building a company is a marathon and not a sprint, and this is more so when it is a tech company. The advice I can give myself and others who wish to take this route is that you have to be prepared for the long haul and a life-changing experience before you see the light at the end of the tunnel.

4. What are 3 lessons you have learned from the Covid pandemic and how it affected the eCommerce business?

One of the lessons is that the supply chain can be fragile, especially within the SME Sector. We have seen incidences during this pandemic, of SME merchants having difficulty restocking and causing cases of stockouts.

On the positive side though, we see a long-term positive impact on the ecosystem. The lockdowns and the related restrictions compel customers who have hitherto, not tried the virtual marketplace as an alternative means of shopping, to try it out. Most have now realized that this is a much more convenient, efficient, stress-free, and cost-effective alternative to “brick and mortar” shopping.

On a broader level, the pandemic taught us and reinforces the fact that stable business models can be rendered less attractive with a single disruptive event. In the startup ecosystem, and even within some more traditional stable sectors, companies were forced to pivot to ensure survival.

5. How do you spend the first 3 hours of your day?

As a startup founder, it takes a lot of discipline to have a routine. I start my day with prayers, help in getting my kids ready for school (during the days of in-class lessons, before the pandemic), exercise when I can, and get to work.

6. What are 3 things that no one in AfricaSokoni knows about you?

I come from a polygamous family.

I am the only son of my mother.

I am the fifth born of my father’s children, but the second surviving one.

7. In your opinion, what 3 qualities make a great CEO?

Active listening, learning, recognizing, acknowledging your limitations and putting a great team together who share and believe in your dreams.

You should be approachable, able to build relationships, communicate the company’s vision, strategies, and direction clearly.

You should have the drive, passion, resilience, and courage to implement the vision of the organization and drive through necessary informed changes.

8. If you could advise anyone to set up a business in any 3 countries in Africa, which countries would these be and why?

That will depend on which type of business and in which sector. However. If you look at where investor’s money is flowing to, we have what we call the “big four”. These are Kenya, Nigeria, South Africa and Egypt. This is largely because of the relatively friendly business environment, developed infrastructure, economy and population to name but a few.

9. Where do you hope AfricaSokoni will be at its 10th anniversary?

Within that time horizon, we are sure we will be a household brand and the go-to marketplace for African consumers and retailers. In addition, we strive to be a major technology company setting the pace in the sector and a presence in all the major African markets.