EO is gearing up for the Global Student Entrepreneur Awards (GSEA) Global Finals on 1-3 November in Chicago, Illinois, USA, where up to 24 of the world’s finest undergraduate student entrepreneurs will compete in front of a panel of high-level CEOs and entrepreneurs.
Read on as Farayi Karumazondo – a top contender for the GSEA Global prize and a recent graduate of Africa University in Zimbabwe, Africa – shares how he went from selling roasted ground nuts to pay for college to heading up his own successful company.
During my three-month summer breaks, I traveled to the communal areas of Mutoko in Zimbabwe to collect ground nuts. I would carry 17 50-kg. bags on the bus and then store the nuts at home to add to their value, since the economy is hyper inflationary. Before a new academic year started, I would roast the ground nuts, package them and then carry them back to school with me. I would supply the university shop with roasted ground nuts at an 80/20 rule. This means that for all the sales they made, the student union would get 20% and I would get 80%. I also sold some of the roasted nuts to students in the residence halls and during lecture breaks. I did this to be able to support myself in terms of tuition fees, meals and other sundry expenses.
I also purchased chocolates from wholesalers in the city of Mutare, which was 17 km from Africa University. These I would sell to students during lecture breaks and in the evening. In 2007, I partnered with a lady to sell cream doughnuts to students in the residence halls.
In 2006, Africa University had a matriculation ceremony, where new students were entered into the register to become official members of the university. A few friends and I realised that there was only one photographer on campus, so we decided to purchase a camera and take photographs. After getting permission, we located several students in the residence halls, made a register for them according to their faculties and took their photos on the day of the matriculation.
And so Virgin Solutions – a film editing, printing, photography and consulting business – was born. In February 2007, we acquired a printer and then started offering printing services to university students. The university library printing services closed at 4:30 p.m., whilst there were students who still needed to print their assignments, projects, dissertations and posters.
In addition to our current services, Virgin Solutions is preparing to open a private television station and becoming a major tourism promoter around the globe. We’re also looking forward to establishing “poultry and piggery” projects, an asset management company, a management training institute and water treatment plants. The management training institute will offer programs in budgeting and budgetary control, project investment analysis and cultural heritage management.
We see Virgin Solutions as a major competitor in Africa and in the whole world. Our desire is to get industrial experience in global business corporations to enhance our expertise. We want to further our studies by getting a Masters in International Business, Entrepreneurship, Marketing or Finance. With this knowledge, we can help Africa move in a positive direction.
Stay tuned for results from the GSEA Global Finals in November. If you have any student entrepreneurs you would like to nominate for next year’s Global Student Entrepreneur Awards, email Erik MacKinnon, Emerging Programs Manager. Nominations and self-nominations for the 2007/2008 GSEAs will officially open 1 October 2007.