By Martin Zwilling

Most entrepreneurs believe they are “different,” but they can’t quite understand how. They usually explain it by insisting that they are driven to follow their passion, need to be their own boss, want to get rich quick, or want to change the world. I now believe that the roots of the difference may go back more than 10,000 years, when hunting and farming became two different lifestyles.

The classic book, “Hunting in a Farmer’s World: Celebrating the Mind of an Entrepreneur,” by serial entrepreneur and business coach John F. Dini, tied together several threads I have often seen in my own experience of mentoring and helping aspiring entrepreneurs. Dini makes the case that entrepreneurs are hunters, while the rest of us (large majority) are farmers.

This is not a statement of good or bad, right or wrong, but just an explanation of why some people see and do things one way, and others do it another way.

In business, entrepreneurs hunt for new innovative solutions to problems, new ways of beating competitors, new markets, and new customers. Farmers are the management that comes after the hunt, to build repeatable processes, do seasonal planning, and make sure all employees are well-fed and trained.

All this made more sense to me as Dini defined the types of entrepreneurs into four categories. Within each of these types, I can easily highlight strengths and weaknesses that we both see every day in startups:

Technicians. The good news is that technicians are entrepreneurs who have previously learned a skill or job so well that they can do it without a manager. The bad news is they may not be good at managing people, or even managing basic business. Technicians can become true hunters when they learn to provide for both employees and family.

Inheritors. These are former employees who find themselves thrust into owning a business, due to family ties or evolution. Unfortunately, most inheritors have been farmers for too long, or never had hunting instincts. The best ones learn to be hunters, or revert to that mode, allowing their business to grow and change with the requirements.

Acquirers. Entrepreneurs who are willing to acquire an existing business, and believe they can make it a better business than previous owners, are clearly hunters. Farmer acquirers, who want to manage a proven opportunity, with no change, buy a franchise. Hunter franchisees move on quickly, or end up owning the entire franchise system.

Creators. These are the ultimate hunters. They build businesses as their lifestyle, not as a job. They love the continuous hunt, for investment capital, resources, talent, and new markets. Only a few of these slide into farming, as the company grows in employees and products. The remainder usually exit within five years, to start the process over again.

In addition to the right type, there are clearly traits that every aspiring entrepreneur should recognize as critical for business success and happiness:

Creativity. Hunters thrive on the challenge of the unknown. They look at every situation as a puzzle that has an answer. Success at any level always brings a new set of problems. Hunters live for solutions and change. Farmers live for repeatable processes, minimal risk, and predictable results to feed the family.

Tenacity. Hunters never quit. There are no defeats, only setbacks. Success is always just a little further down the road. “Never” is not an option. If a solution doesn’t work, there is always another, then another, and another. Farmers are easily frustrated by setbacks, and count on “leadership from the top” to give them new fields for growth.

Business sense. Hunters need “street smarts.” If you are looking to create a business, you better have a strong “gut feeling” or “third eye” for business that goes beyond the usual five senses. Farmers have a narrower view of what is required, to optimize quality production, customer satisfaction, or close a sale.

There once was a time in mankind’s history when almost everyone was a hunter, for survival. Our civilization has evolved now almost to the other extreme, where the vast majority of the people in business are farmers (managers and employees).

For those of you who have the hunter gene, or the yearning to learn, the time has never been riper to be an entrepreneur. How long has it been since you have taken a hard look in the mirror?

The Writer is a veteran startup mentor, executive, blogger, author, tech professional, professor, and investor. Published on Forbes, Entrepreneur, Inc, Huffington Post, etc.

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By Patrick Kiconco Katabaazi

Ministry of Finance, Planning and Economic Development recently informed the nation that Uganda’s gross domestic product (GDP) had grown to Shs122.7 trillion ($32.8 billion) from Shs109.9 trillion ($29.4 billion) reported at the end of 2018/2019 financial year.

The increase in the value of the economy arises out of a rebasing of the Uganda’s GDP calculations by the Ministry of Finance, Planning and Economic Development to tap into emerging sectors such as gold exports and oil projects.

It is worth noting that Uganda’s debt to GDP ratio which had previously been estimated at 42.1 per cent and reported to be in the region of 47% at the end of FY 2018/19 declined to 37.2 % after the rebase.

According to projections by the International Monetary Fund (IMF) Uganda’s ratio of debt to GDP was projected to hit the 50% threshold set by the East African Community Macroeconomic convergence criteria. Going beyond the 50% mark would mean that the national debt has hit unsustainable levels.

There has been mounting pressure from civil society organisations, academia and the development partners in regard to the issue of debt sustainability and numbers from the rebasing of the economy is a relief to government. At 37% of debt to GDP ratio, the government has solid answers.

It should be recalled that there are a number of loans yet to be approved and in the next three years it is very possible that the country’s debt will soon get to 40% and beyond. There, therefore, need for government to rethink the debt strategy especially since rebasing can only provide relief in terms of threshold but cannot take away the fact that the country needs UGX 46 trillion (more than the total national budget for 2019/20) to deal with the current debt stock.

Civil society organisations, technocrats, development partners, academia and other policymakers should work together to ensure  that the national debt is kept within sustainable . There is a need for the government to improve on the issue of effectiveness and absorption capacity to minimize waste and promote value for money culture in project implementation.

Government is urged to build capacity and finance the newly created department of projects appraisal and evaluation to ensure that all loans contracted are properly appraised.

The writer is Writer Executive Director, Centre for Budget and Tax Policy (CBTP)

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By Vanessa Moungar

If you are a gender champion, then you are familiar with the discussions around the glass cliff.  The story of women eager to defy the odds, accepting leadership roles at times of crisis, when the chance of failure is the highest. The truth is that many bold glass cliff climbers have succeeded without falling off.

Two of such champions come to my mind: the former Xerox CEO Anne Mulcah and Tokunboh Ishmael, co-founder of Aliethiea IDF.

Mulcah, Ishmael and likeminded agents of change have already shattered the status quo. So, when the first Global Gender Summit held in Africa kicks off on November 25^th in Kigali, Rwanda, the international community will hurtle towards heeding the calls to dismantle barriers to women’s full participation and advancement economic development on the continent.

Women make up over 40% of African business owners yet only 2% are able to access finance according to a Mckinsey report. One in four women globally who start in a business come from Africa (Global Entrepreneurship Monitor).

The Summit, organised by the Multilateral Development Banks’ (MDBs) Working Group on gender, will be held in Africa for the first time ever, from the 25^th to 27^th November 2019 in Kigali, Rwanda. This year’s summit is hosted by the African Development Bank in partnership with the Government of Rwanda and supported by other multilateral development banks as key partners.

Under the theme “Unpacking constraints to gender equality,” the Global Gender Summit will share best practices and seek innovative solutions that can be harnessed to empower women and girls in Africa and around the world.

We are excited to be bringing the world to Rwanda, a country that has set a strong example when it comes to promoting women’s rights and representation.

Rwanda was the first country in the world with a female majority in parliament, currently at 67.5 %, following October parliamentary polls. Out of a total parliamentary membership of 80, women occupy 54 seats. This feat puts the nation ahead of even the most developed nations.

From the massive financing gap for women-led enterprises, inadequate data, laws and cultural norms that negatively affect women, to a lack of representation in business and politics, the challenges are great.

But the opportunities are there too.

Discussions will focus on the main barriers to achieving gender equality and women’s empowerment, namely: scaling up innovative financing, fostering an enabling environment and ensuring women’s participation and voices. Sectors to be addressed will include climate change, the digital revolution, private sector and human capital and productive employment.

In Africa, women-led enterprises face a whopping $42 billion financing gap. One of the Bank’s flagship gender-focused projects is its Affirmative Finance Action for Women in Africa (AFAWA), which seeks to accelerate growth and employment creation across African economies, by closing the financing gap for women.

Over the next 5 years, AFAWA is expected to unlock $3 billion in private sector financing to empower female entrepreneurs through capacity-building development, access to finance as well as policy, legal and regulatory reforms to support enterprises led by women.

Our Fashionomics Africa initiative supports the African textiles and fashion industries by building the capacities of small and medium-sized enterprises in the textile and clothing sector, especially those run by women and youth. By using technology as a driver for the development of skills and capacity in Africa’s creative industries, the African Development Bank aims to stimulate job creation on the continent. At the summit, we will unveil an innovative online marketplace for designers across the continent.

That’s just some of the exciting news. We will use the opportunity of the Global Gender Summit to launch a number of initiatives to dramatically transform the landscape of access to finance for women across the continent.

These include the Africa Gender Index- a joint African Development Bank and the United Nations Economic Commission for Africa (UNECA) report that assesses African countries on gender equality.

The launch of the AFAWA/AGF Risk Sharing Facility, which will de-risk lending to women through AGF’s partial, guarantees to financial institutions and its capacity development to women entrepreneurs.

As well as these continent-wide initiatives, we at the African Development Bank understand that change begins at home. That is why in 2018, the Bank rolled out its gender marker system to process, monitor, and promote gender mainstreaming in all its operations, with gender specialists as part of project teams and Bank operations.

By the end of last year, 40% of public sector Bank operations had been organised under the gender marker system, a major shift in the Bank’s way of doing business and commitment to gender mainstreaming.

We continue to support and build the individual power of girls and women across the countries we work in and never has the time been more urgent.

We expect the Global Gender Summit, to be a milestone event in the empowerment of women in Africa and beyond.  See you there.

This year’s Global Gender Summit, is hosted by the African Development Bank in partnership with the Government of Rwanda and supported by other multilateral development banks as key partners.

The Writer is the Director of Gender, Women and Civil Society

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