[Interview] Emmanuel Nyame, Dream Pathway International Ghana
Emmanuel Nyame is director of Dream Pathway International, Ghana, a management consultancy firm that specializes in business growth, financing and expansion. Social Entrepreneur and Kairos Society Fellow, he is also the organizer of the Ghana Startup Cup.
Would you please introduce Dream Pathway International to us?
Dream Pathway International (DPI) is a Management Consultancy that focuses on project execution, equity and business financing and global expansion of companies. Some of the works we’ve done include working closely with Blackbridge Cross Borders (BCB), a trans-global private organization, in providing business development, selective facilitation of partnerships and commercial intelligence to enable entrepreneurs and corporations expand their products and services across borders. DPI also organizes the annual U.S. Department of State's StartUp Cup in Ghana, helping to foster entrepreneurship in partnership with the U.S. Embassy Ghana.
DPI administers the West African arm of New York based iYa Ventures, a venture capital firm of world-class repute, renowned for its partner deals including Bharti Airtel's $9bn acquisition of Zain's African telecom assets, the creation of Ethiopia's commodities exchange, Safaricom's $3bn IPO as well as other prominent investments in Africa.
Who are your clients?
DPI targets the unserved niche of corporate projects that require specific expertise, from planning through execution. DPI has a network of resources to adequately pull off projects. Clients are mostly in Ghana, though we work with international partners in the U.S.A and the U.K.
How does Dream Pathway International remain competitive in a fast-changing global marketplace?
We take very seriously our teamwork. The success of every business to a large extent is dependent on the caliber of people that make up the company’s profile. That’s how we maintain a competitive spirit, though we’re relatively new in the sector.
Furthermore, we respect time. Every client’s wish is to have a project completed within the shortest possible time, and with the best quality. It is our aim to see a project through to the end before clients’ deadlines, thereby building trust and confidence in us.
We do not compromise on quality, not for profits nor for higher charges. Through our works with StartUp Cup and iYa Ventures, amongst other clients, we strive to present the very best.
What does the Ghana Startup Cup entail?
Ghana StartUp Cup is a business model accelerator which focuses on long-term mentorship and training for Small Businesses, while connecting them to the right resources that they need to grow their business. The process is competitive and concentrates much on ensuring that businesses go to market to generate income, acquire customers and build their business within the shortest possible time. Successful startups that meet these targets progress to the next stage of the competition and those that fall short are evicted.
What were the conclusions on how Ghanaian startups are doing?
I would answer this from two different perspectives. In the area of business growth, I believe that Ghanaian businesses need more support in the form of mentorship in order to boost their business growth. Most startups fail early not due to lack of planning, but to lack of proper guidance Ghana StartUp Cup is filling that gap by providing experts to mentor participants for a period of six months on an annual basis.
The other perspective has to do with capital. Most startups find it difficult to acquire the necessary funding for their business. Although there are funds and institutions available to support these startups, there seems to be a very wide gap between both entities, and it all boils down to startups having the right structures that will enable investors come on board. It’s a difficult task, but so far things are going well.
Will there be a Ghana Startup Cup 2015?
Yes. It is already in planning stages for another event by middle of the year.
Do you believe Social Media and the Internet to be a plus to the business environment, as it applies to your industry?
Social media is one of the ways that enables us to get out there with our services and value offers, and also is a means of communication with our clients. While helping to promote clients’ projects or even announcing of funding opportunities, we do rely on social media to help us achieve the maximum results. We believe that social media brings you closer to your clients and customers, as compared to adverts in local dailies. You’re easily recognized because these days, almost everyone has a mobile phone which is easier to access the internet with.
What expectations do you have for the Ghanaian economy in 2015?
Although things seem gloomy for the Ghanaian economy at the moment, we have not lost hopes for improvement. Costs of working have risen, and sometimes one has to come up with efficient and less costly methods of carrying out business. This is the most difficult aspect. Besides high costs, I expect that power issues become minimal by end of the year. I also expect a rise in GDP, and this would only happen if we take better advantage of local industries and companies by consuming local goods and services.
Which African countries will emerge top in 2015?
South Africa should emerge as number one economy in Africa as it would have a relatively stable economy. South Africa has its GDP estimated at USD $341.216 and a per capita of USD $6,354, which puts it as the second largest economy in 2014.
Kenya in 2013 had its economy reassessed and was classified as a middle-income economy. It has seen a rise in its economy size by 25.3 percent with a GDP per capita of USD $1,269 as of 2014. There has been an improvement in its Information Communication Technology sector, contributing to about 11.3 percent to the country’s economy. The rise in technology in the economy, with particular focus on the agricultural industry and its innovative mobile payment methods, are aiding in facilitating transactions.
Nigeria is expected to fall as compared to its current position of being Africa’s number one economy. The country currently is experiencing slow growth, as a consequence of its national elections this year and the insurgence of Boko Haram which has left so much uncertainty about the country’s political stability. Notably, a number of investment projects have also been slowed down while others have taken a retreat awaiting the outcome of the elections. Further, the newly elected president would need to direct lots of efforts and investments towards the country’s security. While security and power are expected to be the main focus of whichever leader will win the elections, the economy’s growth would be adversely affected. Consequently, the economy’s ranking should drop to about third place.
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Africa Business Communities is conducting a series of interviews with CEO's in Africa. Are you a CEO in Africa and interested in an interview? Please send an e-mail to Andrea Ayemoba: andrea@africabusinesscommunities.com