CORPORATE SCENE
“ I have always been obsessed with the marketplace and navigating it together with other traders to earn a living . I vividly recall my first business re-selling kerosene at the young age of 15 in a small town at the border of Kenya and Tanzania .”
Sendy has always been a digitally savvy company . What impact has the ongoing Covid-19 pandemic had on the business ?
Covid-19 has had a significant impact on supply chains worldwide , negatively affecting Africa ’ s economy and the logistics industry at large . However , it has also provided the opportunity for Sendy to re-evaluate its business portfolio and venture into new spaces .
It was important for us to secure our employees by deciding against any lay-offs which we saw prevalently in many companies last year . Instead , we resolved to double our efforts ensuring both ours and our clients ’ business continuity and sought out to increase value for our clients to keep the economy moving .
We introduced new solutions designed for home and retail deliveries and increased our workforce for added support . In hindsight , the pandemic has catapulted our business and opened us up to a wider marketplace .
The logistics industry is the backbone of international trade . A report by Allied Market Research from March 2021 estimates the global logistics market will be worth USD 12.97 billion by 2027 – almost double its current value . What is driving the increased global market growth and what are the opportunities for African merchants ?
Africa accounts for 2 % of global trade with only 17 % of African exports being intra-continental , compared to Asia at 59 % and Europe at 68 %. This presents great potential for the expansion of Africa ’ s economy given sufficient logistical infrastructure and cross-border cooperation .
According to the World Bank , the African Continental Free Trade Area ( AfCFTA ) is set to increase intracontinental trade from USD 294 billion to USD 532 billion in 2035 . The AfCFTA agreement will boost trade by eliminating 90 % of tariffs and will create a single market with free movement of goods and services .
The logistics sector will play a vital role in supporting efficient movement of goods across African country borders and into international markets . Currently , this sector faces high inefficiencies arising from its informal , fragmented structures with low economies of scale . This environment is not optimised to meet the expected rise in demand and better , more efficient solutions are necessary .
The growing e-commerce industry and rise in trade agreements will fuel Africa ’ s economy , technology being the biggest enabler of global trade .
What do you envision for Sendy in the next five years ? Paint us a quick picture .
In the next 5 years , we envision a company with presence in all key international trade hubs in Africa - West Africa , Southern Africa , North Africa and in all Eastern Africa countries . We are already at advanced stages in cementing our operations in Ivory Coast , Senegal , Nigeria , Ghana , South Africa and we ’ ll soon be in Egypt .
Your leadership is unquestionably remarkable judging from the stature of Sendy . What are the biggest lessons you ’ ve learnt from building and running a successful company ?
You must maintain a razor sharp focus on your customers and ruthlessly prioritise creating value for them . Have a clear goal of where you need to take your customers and then work backwards .
Oh , and say ‘ no ’ as often as possible ! Keep reframing the questions that you ask when you ’ re looking at problems and keep learning . I read three books a month and spend plenty of time with other entrepreneurs to share experiences . I ’ m hungry for knowledge and I ’ m continuously learning at a record pace .
As CEO , I ’ m sure there ’ s a great deal of pressure to make the right decisions at the right time . I ’ m curious about what keeps you up at night .
I ’ ll answer this very simply . Building a sustainable global business that will unlock new opportunities for Africa , driven by local talent and is solving African problems - keeps me awake .
For anyone looking to start their own business , what would you say are the most important factors to consider from the onset .
Start with a narrow market where customers will love your product or solution , and then keep asking yourself whether there ’ s any more value you can unlock for those customers , then expand to adjacent markets . When you do that , you will keep going even when everybody else is discrediting you . ■
This is an abridged version of the discussion Marketing Africa Crew held with Meshack Alloys , Chief Executive Officer , Sendy Limited as captured by Sharon Karanja , a communications specialist and Member of The Chartered Institute Of Marketing . For more information or comments drop us a line on :
Info @ marketingafrica . co . ke .
MAL 45 / 21 ISSUE 15