Joachim Nzuzi ’20 is from the DRC, operates as the CEO at Africa Rising Consulting in Johannesburg and is the Chief Operating Officer at Realbanc Limited in Lagos. It doesn’t get more pan-African than that! With this much experience on the continent, Joachim is the ideal person to talk to about doing business in Africa.
People often say; you don’t choose your career, your career chooses you. And Joachim agrees. “I started looking after peoples assets in South-Africa, I was advising them about investment opportunities and such. And my current business partner, who would often travel to South-Africa, would come and ask me for advice about which area would be best to invest in; in terms of properties. So one thing led to another and then he asked me to come to Nigeria to help him restructure his company. I always had a passion for real-estate. And that’s really how I got into it. So, it’s not as if I chose it, it kind of like chose me more than anything.”
Realising he was growing in his career, Joachim decided that an MBA would be the perfect tool to help him take on these new responsibilities. “I started to identify some gaps and I felt that an MBA was going to give me a better perspective on how to make good managerial decisions.”
About 16 months in his MBA at ALU School of Business, Joachim has no regrets, only lessons. Here are a couple of things that he learned from his vast experience and knowledge of doing business on the continent and his time at ALUSB.
1. Be patient with the continent
Take it easy. I know people say; ‘the higher the risk, the higher the return.’ But you have to be very patient with the continent. You have to take a long-term approach when it comes to doing business in Africa. It’s not going to happen as quickly as you think, but if you stay consistent, things will turn around. There is so much great potential in Africa and I will always say to people: take your time when doing business in Africa and stick to what you know.
“You have to take a long-term approach when it comes to doing business in Africa.”
2. You have to educate yourself
“If you want to do business in Africa, there are just so many factors that you have to take into consideration. Having a local context on different fronts protects a business from risks that could result in considerable losses. I’ve invested money in the DRC and I’ve lost money. Mostly because I was not very in tune with what was going on in the country. So, if you do not know the environment, you’re going to lose money.
There are a lot of things that ALUSB has reaffirmed as far as doing business in Africa is concerned. But the one thing that I learned is to consider all factors. The old me would go into new territory without even thinking. But ALUSB has taught me the ability to look at things that other people are not looking at. My approach was very limited, but now it’s much broader.”
3. Good leadership is essential
“A lot of things have changed regarding my perception of leadership especially after learning more about the V^3 leadership model at ALUSB. So now, I think a great leader is someone who understands the needs of their people more than anything. And it’s not just about telling people what to do; it’s listening to the needs of the people and finding a way to meet that need. It’s not about you taking the people where you want to go, it’s about taking the people where they need to go. And that is the kind of leadership Africa needs right now.”
“It’s not about you taking the people where you want to go, it’s about taking the people where they need to go.”