Jack Ma, founder of e-commerce giant Alibaba and Chinese billionaire is on a three day visit to Africa. The visit marks his frist time on the continent, which would last from July 19 to 21, where he is expected to attend the Youth Connekt Africa Summit in Rwanda.
On Wednesday, 19th, he paid a visit to Kenya in what he has said is a trip to inspire young entrepreneurs.
While dropping several nuggets of wisdom on starting a business, Ma noted that he came to Africa to share the entrepreneurial dream not to sell Chinese products.
According to him, “Individual commitment to a group effort, that is what makes a team work, a company, a society, a civilization… work.”
“Find people who can be your boss, not those who are willing to be your servants. That is how you’ll grow.”
“When you’re profitable, after paying your employees, you can then pay yourself as an entrepreneur.”
“Opportunities are always found where people complain.”
In his entourage are 38 other billionaires, including Internet tycoon Bob Xu, Alibaba’s founding partner Lucy Peng, founder and chairman of Mengniu Dairy Niu Gensheng, and real estate tycoon Huang Youlong.
According to BusinessDaily, the Chinese tycoons are expected to scout for business opportunities in East Africa’s largest economy where Chinese influence has been rising rapidly, with the balance of trade highly in favour of China.
Jack Ma is a special adviser for youth entrepreneurship and small businesses for the United Nations Conference on Trade and Development (UNCTAD).