Meet the entrepreneurs who achieved 735% turnover growth

Since launching their digital market research company Afritorch Digital last year, co-founders Michel Katuta and Thabo Mphate realised a 735% turnover growth rate in nine months

After identifying a gap in the sector in May 2017, business partners Katuta and Mphate launched Afritorch Digital, which assists research agencies in conducting market research through its in-depth knowledge of the African continent and its use of the latest digital technologies.

Katuta says the most challenging aspect of launching the business was giving up on their full-time careers. He holds a BTech degree in Computer Science with work experience in the software engineering sector, while Mphate has degree in Business Administration with a background in digital market research.

“Our jobs provided us with security, so it was daunting to give it up to launch a self-funded start-up, but creating something from nothing was motivation to take the jump. We set out to convince potential clients that they really needed our services, so we did extensive research and learnt how to tailor our services to each customer. Once we took that leap of faith, the chips fell where they were supposed to,” he explains.

Booming business

After just one month of running the business, the pair exceeded their own expectations by accomplishing their six-month business goals in just one month.

“To be honest, we were very surprised by the level of success. Things progressed a lot quicker than we anticipated,” says Mphate. ”We’ve both been in the industry for some years now, so we knew what the industry gaps were, specifically in Africa, and we provided a solution to our clients’ burning problems.”

The business partners focus on helping companies re-imagine their business models, aligning their digital technology roadmap to a revenue model within the digital space. They currently service research firms operating in South Africa, as well as Kenya, Ghana, Nigeria, Zimbabwe, Mozambique and Tanzania.

“The most important business lesson we have learnt is to take risks and to fight for what we believe in,” says Katuta. “We also believe that it’s important to operate one step at a time, one company at a time.”

Looking ahead, the businessmen plan to triple their annual turnover in 2018 and the odds seem to be in their favour.

“Our long-term goal is to help the continent re-imagine the insight industry in the digital age independently from the rest of the world to solve Africa-specific problems,” concludes Mphate.

 

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