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Econet CEO, Strive Masiyiwa Introduces His Latest Venture “Cumii And Technite” - Business - Nairaland

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Econet CEO, Strive Masiyiwa Introduces His Latest Venture “Cumii And Technite” by KomradeKorsche: 12:22pm On Nov 16, 2015
On a his facebook page, Econet Group Chairman & Founder, Strive Masiyiwa introduced his latest venture and the way through which the idea was born and bred. He also addressed the issue of identifying opportunities, with an eagle eye BT first asking “How do you see?”


About two years ago, a friend of mine who runs one of the largest telecoms operators in the U.S. introduced me to a new service they had just launched: If you have a smartphone, they can install a small device in your car which sends information on things like the location of your car in real time. It also tells you how you’re driving.

“Can you license us to use this service in Africa?” I asked.

“Sure, we can license you; send a team to negotiate the terms.”

__I could see the potential to launch an exciting new business… I’m a “fast follower.”

So we created a new business. We called it “Cumii” and we recruited a very dynamic CEO to run it. The new venture was given to a senior executive in the group who had a reputation for getting things done quickly and effectively. He in turn hired the team that now drives the business.

I told the new CEO, “I want you to take this business across Africa. Sub-license other mobile network operators and launch in as many countries as possible.

“One of the big challenges was finding technicians who could install the units in each car. It takes up to two hours for a skilled technician to fit the unit which is similar to a car alarm. We wanted to install hundreds, if not thousands, every week.

__ How do we solve this problem?

I already had an idea in mind… “Uber”!

Someone commented, “Uber?! But that is a car service.”

“Let’s train and equip young people to install the units in cars. We then give them each a scooter and a mobile App on a smartphone. When a customer buys a CUMII Service, we find the nearest technician in the same way Uber finds its drivers,” I explained to our leading engineers.

“You mean the technicians will not work for us full time?”

“No they won’t. I want them to be independent entrepreneurs. We will train them, then give them a loan to buy a motorcycle and tools. We then pay them whenever they do a job for us.”

“Why don’t we create a second business, just for the installation services?” someone suggested.

“I like that. Go put together a business plan, and let’s see the numbers.”

Within days we had a business plan. I liked the numbers. I approved.

“What shall we call the new business that manages the installers?”

“Call the business Technite, and the technicians “Technites,” I said.

“Sir, may I ask where you get such names?”

“Surely you should know by now.”

Zimbabwe was chosen as the test site for the new business. Our software developers in Dubai developed the Technite platform. Meanwhile we asked our Higher Life Foundation to shortlist 250 school leavers from its scholarship program for orphans. They were quietly put into training.

Meanwhile the new CEO started to set up “Cumii and the Technites” in other countries. In the next few months we are set to launch in Burundi, Kenya, Lesotho, South Africa, and Tanzania. Next year we plan to do at least 10 new markets. The CEO and his team are based in South Africa and Kenya, with each operating country having its own management team.

Let’s review some principles for you to study carefully:

#Like our friend Logan Green from Lyft, I saw something in America, and spotted an opportunity: Green took a solution for America from Africa; I took a solution for Africa from America.

# I respected the owner of the Intellectual Property (IP).

# I moved quickly to secure the rights for an Africa-wide business.

# I hired a first class management team.

# When we encountered a major problem, we solved it by “re-imagining” something used for a different business. We took the principle in Uber and used it to develop a new business.

# We also made sure that we used the platform to empower other people. We expect to create thousands of jobs for young people across Africa, including young women.

# Finally, I did not run around announcing my plans to other people. I did it first. Don’t talk and talk about something then complain later that someone stole it!

Learn more about Cumii online: http://www.cumii.net/
Source: http://starttells.com/2015/11/14/econet-ceo-strive-masiyiwa-introduces-his-latest-venture-cumii-and-technite-which-runs-on-a-uber-like-model/

Re: Econet CEO, Strive Masiyiwa Introduces His Latest Venture “Cumii And Technite” by Nobody: 12:29pm On Nov 16, 2015
Oh God. Gimme money making idea from ur throne
Re: Econet CEO, Strive Masiyiwa Introduces His Latest Venture “Cumii And Technite” by KomradeKorsche: 12:31pm On Nov 16, 2015
FOD, puskin, naijacutee kindly submit for FP consideration.
Re: Econet CEO, Strive Masiyiwa Introduces His Latest Venture “Cumii And Technite” by Nobody: 12:56pm On Nov 16, 2015
A business mind. Beautiful. But what were you doing on his Facebook page again?
Re: Econet CEO, Strive Masiyiwa Introduces His Latest Venture “Cumii And Technite” by KomradeKorsche: 3:57pm On Nov 16, 2015
Lalasticlala FP pls
Re: Econet CEO, Strive Masiyiwa Introduces His Latest Venture “Cumii And Technite” by KomradeKorsche: 3:58pm On Nov 16, 2015
RickRichards:
A business mind. Beautiful. But what were you doing on his Facebook page again?
was dancing shoki on his page.

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