Unleashing the Lion: The Role of Advisory in Igniting SME Growth in Africa

Welcome, entrepreneurs and business enthusiasts alike, to our latest column on the transformative power of business advisory services in driving the growth of small and medium-sized enterprises (SMEs) across Africa. At the heart of this discussion lies the essence of our very name, Arielle, meaning “lioness” in Hebrew, symbolizing strength, courage, and leadership. Join us as we explore how our purpose-driven advisory approach embodies the spirit of the lioness, empowering SMEs to thrive and roar across the African business landscape.

The Meaning Behind the Name:

Before delving into the core of our mission, let’s first unravel the significance of our name, Arielle. Derived from Hebrew, Arielle translates to “lioness,” representing qualities of resilience, determination, and fierce protection. Just as the lioness fearlessly safeguards her pride, we at Arielle Advisory are committed to championing the aspirations of African SMEs, guiding them through challenges, and nurturing their growth with unwavering dedication.

The Essence of Arielle Advisory:

I believe that business advisory services are gaining significant importance in Africa and other emerging markets because they play a transformative role in solving the region’s biggest challenges. With its fast-growing population and markets, the region presents substantial opportunities for businesses in an environment of slowing global growth. However, companies face pronounced challenges such as antiquated systems, infrastructural gaps, a disorganized and fragmented retail landscape, inconsistencies in management, a lack of reliable market research, unclear and ever-changing government regulations, and a severely limited talent pipeline.

Despite these hurdles, Africa’s real GDP grew at an average annual rate of 2.9% from 2008 to 2022 that’s according to data from the World Bank, quite a resilient effort I might add even in the wake of the Global Financial Crisis the decline in Commodity prices this past decade, and the impact of the Covid 19 pandemic. Many believe that the continent is poised to become the world’s largest growth market for consumer goods and services and an enabler for the global energy transition. If precedence can be set and methodologies introduced to help the thousands of enterprises in the continent overcome these obstacles, the prospects of competing in the global marketplace are high. African businesses have the potential to boost their profitability and sustainability, contributing to the continent’s economic growth and we’re here for it.

So why Advisory? Founded with a vision to empower and uplift African SMEs, Arielle Advisory embodies a holistic approach to business advisory services that goes beyond conventional consulting. Our team comprises seasoned professionals with a collection of expertise across industries, united by a shared passion for driving positive change and fostering economic development. Our shared vision to add value beyond our clients excites me the most so expect a treasure trove of insights and research from the rest of this great team.

At Arielle, we are guided by our core values, which form the bedrock of our mission:

• Excellence: Our inspiration is drawn from Western investment pioneers and the diversity that is in Africa. Where values, collaboration, and strong ethical conduct guide our approaches to delivering high-quality results in the marketplace and to our partners.
• Expertise: The methodology that guides us is closely linked to the practices of the buy-side business and so we believe successful institutional investing requires unparalleled skill, unquestionable knowledge of industry sectors, and keenness on global trends shaping the business landscape.
• Transparency: As regulation tightens in the rising wake of growing mistrust in financial markets, we have chosen to prioritize openness about our work, encourage discussions with stakeholders, and aim to make financial tools and information accessible to the businesses and industries that need them most.

As we conclude our exploration into the transformative role of business advisory services in igniting SME growth in Africa, let us reflect on the enduring symbolism of the lioness embodied in our name, Arielle. Just as the lioness fiercely protects and nurtures her pride, we are committed to safeguarding the aspirations of African SMEs, guiding them towards success and prosperity. Together, let us unleash the lion within each SME, empowering them to roar with confidence and conquer new horizons in the African business landscape.

Some Interesting Reads:

I’m an avid reader, and it’s one of the many habits that have helped me in my career to not only stay relevant but innovate in my space. I always encourage my team and every entrepreneur I work with to read as the world is moving quickly, so here are some of my favorite reads that you can dive into if you are an early-stage entrepreneur, years into your business, or in management within a thriving business.

1. “The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses” by Eric Ries – This book offers valuable insights into building successful businesses through iterative development and customer feedback, relevant for SMEs looking to innovate and grow.

2. “Good to Great: Why Some Companies Make the Leap…And Others Don’t” by Jim Collins – Jim Collins explores the factors that distinguish great companies from their competitors, providing actionable principles for achieving sustainable growth and excellence in business.

3. “Africa’s Business Revolution: How to Succeed in the World’s Next Big Growth Market” by Acha Leke, Mutsa Chironga, and Georges Desvaux – This book offers a comprehensive analysis of the African business landscape, highlighting opportunities and strategies for success in emerging markets a place that is near and dear to my heart.

4. “Start with Why: How Great Leaders Inspire Everyone to Take Action” by Simon Sinek – The acclaimed author of the classic, “Start with Why,” Simon explores the power of purpose-driven leadership and the importance of aligning organizational goals with a clear sense of purpose, relevant for SMEs seeking to define their mission and values.

5. “The Art of the Start 2.0: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything” by Guy Kawasaki – At one point the Apple company’s chief evangelist, Guy Kawasaki provides practical advice and strategies for launching and growing successful businesses, offering valuable insights for SMEs at various stages of development.

6. “The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail” by Clayton M. Christensen – Clayton Christensen examines the challenges of disruptive innovation and offers insights into how businesses can adapt and thrive in a rapidly changing environment, relevant for SMEs navigating technological advancements.

7. “The Transparency Edge: How Credibility Can Make or Break You in Business” by Barbara Pagano and Elizabeth Pagano – This book explores the importance of transparency in building trust and credibility in business relationships, offering practical strategies for SMEs to enhance transparency and accountability. A book that heavily influenced the work I do today and a looking glass into the future of the financial services industry, it’s a must-read especially if you contribute in this space that is critical to the global economy.

I hope these resources offer some valuable insights and practical guidance for SMEs looking to ignite growth and thrive in the dynamic business landscape of Africa and hopefully shoulder you with a burden to impact our great continent massively.

Edith Njage

Edith is the Founder and CEO of Arielle for Africa Ltd. and Arielle Advisory. A serial entrepreneur, she is on a mission to empower African youth through job creation, promoting entrepreneurship, scaling African businesses, advancing STEM education, and championing sustainability in business. Outside of her profession she is an avid reader, podcast show host, writer and public speaker.