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  • September 2021
  • Case
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Harambe: Mobilizing Capital in Africa

By: Anywhere (Siko) Sikochi, Dilyana Karadzhova Botha and Francesco Tronci
  • Format:Print
  • | Language:English
  • | Pages:27
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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.
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About The Author

Anywhere Sikochi

Accounting and Management
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  • MTN: Unlocking Value While Driving Socioeconomic Progress By: Benjamin C. Esty, Pippa Tubman Armerding and Dilyana Karadzhova Botha
  • Why Is Corporate Virtue in the Eye of the Beholder? The Case of ESG Ratings By: Dane Christensen, George Serafeim and Anywhere Sikochi
  • Transitory and Permanent Cash Flow Shocks in Debt Contract Design By: Le Ma, Anywhere Sikochi and Yajun Xiao
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