The stock market is a very scary place for most young entrepreneurs, but not for 24 year old Samuelle Z. G. Dimairho. On Ngoda Profiles, we profile this stock market genius who is transforming the Zimbabwean Stock Exchange.
@Ngodabusiness : Who is Samuelle Z. G. Dimairho
@sdimairho: I am a young Zimbabwean who is determined to make a global positive impact, it is high time that Africa changes from being a follower to a leader. I am a very simple person who is down to earth and I like interacting with people in all levels of society. I attended my primary school at Lewisam and my High School at Prince Edward school. During my school holidays when I was in high school, I used to work at a firm called Vali Chartered Certified Accountants to gain experience and exposure into the business world. After my O’Levels, I dropped out of school to pursue a chartered accountancy qualification as well as to get into the business arena.
@Ngodabusiness : What drove you to pursue entrepreneurship?
@sdimairho : When I was 13, my father exposed me to business and commerce through literature and newspapers. It made me want to act upon what I read and start something business related. I started investing on the Zimbabwe Stock Exchange when I was 15years old through the support of my mother. I found it exciting and decided to explore more around investing and starting enterprises.
@Ngodabusiness : How did Chengetedzai Depository come about?
@sdimairho : The idea of Chengetedzai came from when I used to invest on the ZSE when I was a teenager. What I had in mind was the inefficient service delivery that an ordinary investor faced. I took a rather bold move of pursuing the ZSE automation project at the age of 17years, without a clue of the ‘monster’ I was trying to take on. Over the past 7 years, I have worked with great co-founders whose involvement in the project was instrumental to its success. Given that Chengetedzai was going to become the electronic custodian of ZSE traded securities, that currently are valued at close to USD5 billion, and the clearing and settlement platform for over USD450million in trades per annum, it was necessary to partner with the Government and their support has been valuable in the process.
@Ngodabusiness : Most Tech Start Ups in Silicon Valley, are well funded, how will Chengetedzai Depository help young entrepreneurs in raising capital?
@sdimairho : Interestingly enough, I am in the US right participating in a 3 week internship at Packard Place in Charlotte, North Carolina. It is an incubation hub of technology companies in different industry sectors. The same challenge of capital we have in Africa is also applicable here in the US. Investors are always weary of where they put their money and everyone wants to invest in viable projects only. At the end of the day, money will always be attracted to good ideas regardless of wherever you are in the world. Chengetedzai is not necessarily a platform for providing capital to external people but more of a foundation and platform for modernising investment activities.
@Ngodabusiness : Major milestones reached to date
@sdimairho : The success of Chengetedzai has certainly be a major milestone to date personally. Other much smaller milestones include having a global visibility and having had the opportunities to travel to various continents in the world. I feel that the network I’ve built and been exposed to is a great asset for all of us in Zimbabwe and Africa.
@Ngodabusiness : You were recently in the US, take us through your experience there
@sdimairho : The US experience has been amazing, it has given me a new global perspective around business and entrepreneurship. I have been amazed at the work culture and the urgency to get things done. They face similar challenges to us in Africa but have a whole different way of resolving them. 90% of a problem is always the way you react and deal with a situation. I also like how they develop strategy in manner that is sustainable in the long term and for future generations well beyond them. It has also been a great experience networking with captains of industry and civic organisations in the US.
@Ngodabusiness : What would you say are the common mistakes made by young Zimbabwean Entrepreneurs
@sdimairho : I think that a lot of our entrepreneurs are lazy and shallow minded. They only think of solutions for and within Zimbabwe. Also, they think that starting a business is all about capital which is not correct.
@Ngodabusiness : Your advice to young entrepreneurs
@sdimairho : I would say young entrepreneurs should be focused and work much harder than the average people do. They should not sit and have expectations of a sympathetic environment that gives them capital whatever they want. Whenever you get into business, you should have a global perspective in mind. With internet and globalization, markets are becoming more porous and your product or service is likely to have a competitor from someone else out there in the world. So I think they need to benchmark themselves with the world and knowing that whenever they work, they are competing against the Chinese, Indians, Europeans, Americans and fellows Africans. When your vision is strong enough and you act relentlessly upon it daily, nothing will ever stop you from succeeding. So do what you can with whatever you have and build capacity over time.