September 2020 – Alitheia

For women in suits and boardrooms

Creator: Christina Morillo | Credit: Pexels

Women are often judged based on what they have done, and men by what they say they will do. This has deep implications for women – particularly women with leadership ambitions – as gender plays a role in how society judges leadership potential. On the back of yesterday’s global celebration of the International Day of the Girl, here is an article I wrote on how women can navigate through the minefield and nudge people out of their gender bias.

In my opinion, more often than not, women are judged based on what they have done, and men by what they say they will do. The glaring disconnect here is that one group’s personal qualities and potential are lauded and in the other group (women), not as much and may even count against them. This, according to research from the University of Kent , has deep implications for women – particularly women with leadership ambitions . The researchers conclude by stating the obvious: that gender plays a role in workplace discrimination and how society judges leadership potential.

A common trait of the human race is unconscious bias. It affects the way we see the world and the way the world sees us. On a deeper level, it entrenches behavioral expectations based on gender prescriptions. Although, there is little that can be done to eliminate unconscious bias, there are ways to navigate through the minefield and nudge people out of their gender bias base. Here are some tips:

Be ready: A substantial number of business discussions and decisions are made in spaces exclusive to men, where relationships are formed on flexible social terms and deals sealed over a handshake. A recent article in the Financial Times notes that “traditional means of building networks between investors and entrepreneurs are not necessarily gender-neutral.” This, amongst other social and structural issues, limits the opportunities for women to participate in similar deals, secure financing, and achieve their career/professional goals. However, do not despair. One way to overcome this hurdle is to create your own opportunities. Craft your elevator pitch, strengthen your network, and be ready to pitch at the drop of a hat. Remember, the seeds of success are birthed when opportunity meets preparedness.

Brag: Understand that you have a limited window of time to capture and hold a person’s attention. So, wherever you are, leverage opportunities to sell yourself and what you do. Do not be afraid to brag. As women, we are often reticent to talk about our successes, perhaps due to social conditioning. Whatever your reasons, be brave, put them aside, and give others the opportunity to experience your brilliance and lay their biases aside. Remember, if you do not say it, others are unable to read your mind and know it. Be both comprehensive and succinct in sharing the qualitative and quantitative aspects of your successes. Share your aspirations with enthusiasm to pique the interest of your audience, and have them wanting to learn more about you and your opportunity.

Be intentional: Intentionality is key; and everything you do matters. It is important to apply this in every sphere of your life, bearing in mind that today’s actions will count towards future decisions about you. Intentionality also enables you to build your career purposefully and, thus, have experiences/successes to talk about. As a private equity investor, we consider both past actions and future aspirations of founders as indicators of their ability to manage and scale their business. Remember, when it comes to raising funds and/or seeking leadership roles your actions and aspirations are your currency.

September 25, 2020/0 Comments/by Team Alitheia

Funding

‘Green New Deal’ for Africa

Creator: Shayne Robinson | Credit: © Shayne Robinson / Greenpeace

Critically, in working towards a Green New Deal for Africa, impact investment must be centered as a vehicle to drive funds into essential and sustainable businesses led by entrepreneurs and management teams who maniacally attack Africa’s intractable problems.

The New Deal, introduced by the American president, Franklin D. Roosevelt in the 1930s, had a tremendous effect on the global political economy. For proponents of government interference in the capitalist economy, the New Deal has become a reference point for progressive thinking and policymaking. Today, the Green New Deal – so aptly named – has become an important part of the discussion around climate emergency.

For years now, science has told us that we are in a crisis brought on by centuries of industrial activities. We know that the threat of climate change is imminent and, in fact, African countries have – and will continue to – face the worst of it. The solution, therefore, lies in radically rethinking our systems. This rethinking spans the length of our daily lives, demanding a change on the fundamental base of our industrialized society: decarbonizing the economy.

However, Africa cannot abdicate this rethinking to forces outside of the continent. Not just because we need to be the masters of our destiny, but because whatever solutions proposed at the global stage and in Western societies will view Africa as secondary and will widen the fissures of inequality and its devastating scale, which COVID-19 has unearthed and laid bare. The consequence is that we will extend the life of neoliberal economic outlooks that view Africa as extractive rather than productive and prioritizes development aid over investment.

As global investment in sustainable energy outgrows investment into traditional energy, it is time for Africa to chart its own course by adopting, designing, and deploying African solutions that are aimed at solving our unique problems. Alitheia Capital’s investment in SparkMeter is a preparatory step in this direction. And the development of electric motorcycles by our portfolio company, MAX, shows the need for local innovation that yields triple results: financial, social, and environmental. However, this also requires that we find and unlock domestic sources of private equity funds in Africa to prioritize investment into small, essential businesses on the continent.

I am a capitalist. I believe in the ability of capitalism to cause fundamental changes by engaging with market forces. However, the excesses of capitalism must be engaged with and, if necessary, regulated to protect the interest of the everyday man who is far removed from the machinations of politics, power, and wealth. It is why I am a proponent of impact investment as an alternative to development aid and traditional investment. Impact investment intersects with both as it allows a financial and social return on investments that are critical for social development and economic growth. In working towards a Green New Deal for Africa, impact investment must be centered as a vehicle to drive funds into essential and sustainable businesses. And Africa’s many entrepreneurs also have a central role to play in this grand scheme.

September 25, 2020/0 Comments/by Team Alitheia

Economy

Building big businesses in Africa

Every June 7th, the African Union (AU) marks the African Border Day: a day set aside to celebrate and highlight the work of the African Union Border Programme (AUBP) in uniting and integrating Africa. At this time, the importance and socioeconomic impact of borders on Small and Medium Enterprises (SMEs), cannot be overemphasized.

Every June 7th, the African Union (AU) marks the African Border Day: a day set aside to celebrate and highlight the work of the African Union Border Programme (AUBP) in uniting and integrating Africa. At this time, the importance and socioeconomic impact of borders on Small and Medium Enterprises (SMEs), cannot be overemphasized. Particularly for high growth businesses providing essential services within and beyond borders.

Borders are more than mere lines on papers or physical structures that limit citizenship and movement. From an investment and financial perspective, borders – and ensuing consequences – are critical in the development of the African continent and its ability to achieve the Sustainable Development Goals. currently, regulatory and currency hurdles inhibit the execution of effective pan-African strategies as the kaleidoscope of each country’s unique policies and regulations present an uphill task for businesses hoping to scale and serve the continent’s one billion-plus population. SMEs, already underfunded, under-resourced, and stretched, are hamstrung by costs, hoops, and hurdles of expanding and trading across borders.

To build sustainable businesses at scale, Africa requires a robust ‘local’ supply chain across and between its states and common regulations and currencies. This uniformity can be achieved through the active promotion of regional trade and integration enabling businesses to implement a pan-African strategy without recourse to global supply chains. Thus creating local value chains that extend markets across countries.

A rethink of the continent’s borders is essential for the effective transnational movement of people, businesses, and products. Agreements and policies, like the Africa Continental Free Trade Area (AfCFTA), are a step in the right direction. The prayer is that when it eventually takes off, it will result in the broader export and use of innovation to boost the growth and development of African businesses and economies.

September 17, 2020/0 Comments/by Team Alitheia