By Mfonobong Nsehe
Ashish J. Thakkar is the CEO of Mara Group a diversified conglomerate with approximately $100 million in revenues. Ashish who started business at age 14 has parlayed a small computer trading operation into a pan-African conglomerate, earned a fortune and attained rock star status along the way.
Ashish J. Thakkar is only 30, but in less than two decades, the Ugandan-born maverick entrepreneur has accomplished what only few attain in their lifetime. Thakkar began his entrepreneurial journey over 15 years ago as a high school student in Uganda where he sold computers to his schoolmates and friends. That small trading operation snowballed into the Mara Group, , according to Thakkar. Mara has tentacles in everything from Real Estate and tourism to financial services, information and communications technology, renewable energy and manufacturing. The group’s operations span 16 countries in four continents, including Asia. And lest you forget, he didn’t inherit anything; he built it all from scratch.
He is also an astronaut-in-waiting. Thakkar is the only African who shelled out the $200,000 ticket fee for Virgin Galactic’s first flight to Space. When the trip eventually comes through, he’ll be the second African astronaut after South African software millionaire Mark Shuttleworth.
Ashish Thakkar recently granted me audience, during which he recounted his earliest days as an entrepreneur, highlighted his successes, rendered his thoughts on corporate social responsibility and mused on his African legacy.
On his first steps
My family and I moved to Kampala when I was just fourteen, having been made refugees after the Rwandan genocide two years after moving to Rwanda from the UK. It was when I started school in Kampala that I started selling computers to friends and to the school. That was really when the seed was sown, or perhaps when it came to fruition! After some intense convincing, my parents agreed to let me start my own business on the condition that I would go back to school if it didn’t work out. The rest, as they say, is history.
On Mara Group
We started in IT, then diversified into packaging and property development, and through the years have ventured into infrastructure, asset management and now agriculture. Mara Foundation, our non-profit arm, focuses on entrepreneurship and education. The group places equal emphasis on internal growth and structure and on strategic partnerships with global experts in various fields. Today, Mara Group employs over 5,000 people and has a presence in 18 African countries.
On the catalyst behind success
It’s difficult to identify one specific reason or catalyst, but above all other things, I believe a strong sense of perseverance, always thinking big and aiming high, and of course positivity, has allowed me to realize my vision. We have a truly motivated team and take pride in our energetic, flexible and long-term approach to relationships with employees, partners and clients. This, combined with astute leadership and a can-do culture built on motivation and people, is what pushes Mara onwards and upwards.
On being a World Economic Forum Young Global Leader
It is a real honour to be part of such an inspiring community of outstanding leaders who are committed to jointly shaping a better future for the world. Bringing together young leaders from all around the world, this forum is rather like a global think tank, bouncing with energy and ideas. Being a part of it is great for myself and for Mara, and a real source of inspiration.
On advice to young, entrepreneurs
If I had someone to tell me how to do things, what to do and what not to do, Mara Group would be in another place altogether – 5 years ahead I would say. So for me, the first element is mentorship and having access to a community of like-minded individuals. If you have the idea, the business plan, the team and the leadership to execute it, the funding will come more easily, but key to all this is a mentor to guide you! The advice I would give is to be persistent and never give up, challenges are a part of the process, take them on head on.
On giving back
I believe it is imperative for businesses to give back to their communities. I have taken my greatest lessons in business and created the Mara Foundation to help early stage entrepreneurs. We are very proud of the work we do through the Foundation which is helping to tackle problems in education and providing much needed support to young entrepreneurs at the start of their journey. Mara Foundation provides three different types of support. The first is the Entrepreneur Launchpad, a business mentorship program which connects emerging entrepreneurs with top business leaders who have volunteered to provide mentorship for six months. This project has mentored around 120 small businesses in East Africa so far.
The second is Mara Launchpad, the Base for Growing Businesses, an innovation and enterprise center for young businesses, where entrepreneurs pay an affordable fee to access a professional office space and a community of like-minded individuals. This provides visibility and credibility which enables them to grow. The third element is the Mara Launch Uganda Fund, which offers venture capital to start-ups and growth-stage companies in Uganda to start with. Our vision is to copy and paste these initiatives in other African countries too.
On the worst business decision he’s ever made
Ten to twelve years ago, the mistake I made was whenever I started a new project I wouldn’t focus on existing ones. That was a huge mistake. You must always keep your eyes on all the balls, no matter how small or big those ventures are.
On his biggest lesson in business
Always be down to earth and approachable. The day your arrogance or ego kicks in, it’s all over. Always remember, no matter how big you become you will still always be a drop in the ocean in the grand scheme of things.
On leaving an African legacy
My biggest driver is to see Africa prosper and compete aggressively on a global scale. I am very passionate about this and firmly believe that the Indian Tiger and the Chinese Dragon have had their days and it is now time for the African Lion! Mara Group proudly wears the logo of the African Lion to symbolize Africa’s coming of age and we champion this cause in any way we can.
This article and interview was conducted by Mfonobong Nsehe and published on Forbes.com
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