Publications
Publications
- September 2021
- HBS Case Collection
Harambe: Mobilizing Capital in Africa
By: Anywhere (Siko) Sikochi, Dilyana Karadzhova Botha and Francesco Tronci
Abstract
Harambe was a non-profit organization whose mission was to build an ecosystem to identify promising young African entrepreneurs and provide them access to training, markets, capital, and support networks. From 2007 to 2021, Harambe had grown to a network of 367 entrepreneurs, known as “Harambeans”. They had collectively raised over $800 million in capital, created more than 3,500 jobs, and claimed three of the six African startup unicorns in 2021. There was mounting pressure for Harambe to evolve to take advantage of its momentum, the changing entrepreneurship landscape in Africa, and increasing investor interest. Given this, Okendo Lewis-Gayle, founder and chairman, pondered the next steps for Harambe to maximize its impact in Africa. He considered three options: scale the current non-profit model, pivot to a for-profit venture capital model, or develop a hybrid model with a non-profit and a for-profit investment arm. Another important question was, “How should Harambe define impact?”
Keywords
Entrepreneurship; Nonprofit Organizations; Business Model; Strategy; Organizational Structure; Business Startups; Capital; Venture Capital; Social and Collaborative Networks; Networks; Developing Countries and Economies; Emerging Markets; Africa; South Africa
Citation
Sikochi, Anywhere (Siko), Dilyana Karadzhova Botha, and Francesco Tronci. "Harambe: Mobilizing Capital in Africa." Harvard Business School Case 122-021, September 2021.