Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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During the opening day of the 7th Sharjah Investment Forum (SIF 2024), Vusi Thembekwayo, a prominent South African entrepreneur, best-selling author, and influential venture capitalist explored how emerging markets can redefine global business and the principles that can guide this transformation.
The correct mindset and strategic thinking
Speaking about what it takes to build a prosperous future in emerging markets, the CEO of MyGrowthFund Venture Partners stressed the importance of the correct mindset and strategic thinking in wealth creation. He noted the role that strong founders are playing in new markets, particularly first-generation entrepreneurs transitioning into second generation business owners. He also discussed the demographic advantage of emerging economies such as those in Africa and the Middle East as another focal point, contrasting Europe’s ageing population where over 40% are over 50 years old.
Thembekwayo explained that fluctuations in emerging markets are linked to investment flows, capital, and supply chains; however, profits from emerging markets are witnessing a significant increase, with expectations of rising by between 15% and 18% over this year and next, making it a substantial investment opportunity that will contribute to driving global economic growth.
Central to his message were key business principles that entrepreneurs should adopt. He introduced the principle of asymmetry, urging businesses to focus on efforts that yield disproportionate benefits. He also discussed the concept of “Raison d’etre” (Reason for Being), encapsulated in the acronym L.E.A.P—Legacy, Excellence, Action-Orientation, and Purpose-Led initiatives. The psychology of these incentives was another critical theme, where he noted that metrics that matter should drive decision-making processes and that “best” always supersedes “bigger”.
Thembekwayo shared insights on collaboration, creation, control, and competition as essential components for success. He stated, “We must advocate for controlled innovation that is flexible yet focused internally to maximise marginal revenue.” Drawing inspiration from a pivotal meeting with the political icon Nelson Mandela where he asked him “What is your dream and hope for the future of the world?” Mandela replied saying, “People need a little bit of faith… and faith is the ability to trust and believe in the invisible.” He concluded with a powerful reminder that the future does not solely rely on capital or technology; rather, it is fundamentally rooted in our collective faith and belief in our potential to create lasting change.
A futuristic vision for smart economies
Organised by the Sharjah FDI Office (Invest in Sharjah), the two-day forum is taking place at the Al Jawaher Reception and Convention Centre in Sharjah, under the theme “A Futuristic Vision for Smart Economies,” featuring insightful sessions with over 80 influential leaders of business and policy-makers, including dynamic panel discussions and workshops, and an exclusive investor lounge, aimed at fostering knowledge exchange among participants.
