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Expert in the Protection of Financial Services Consumers, he has been involved for 18 years in the financial sector on the themes of Inclusive and Responsible Finance, Client-Centricity, and on Environmental and Social Management Systems. Thus, he had the opportunity to work with fifty decentralized financial systems, commercial banks and regulators in a dozen countries in Africa. His name, Patrick Romaric Djondo. He is the Founder and Managing Director of Djondo Management & Development (DMD Sarl) and SATIS FINTECH SA, two companies based in Cotonou and specialized in the management of complaints related to the use of digital financial services. Since 2015, the two companies have been in the design and development of web and mobile applications and analysis services using artificial intelligence, business intelligence and data science functionalities allowing globally to give voice to the consumer and help companies and organizations transform complaints into opportunities to improve their products, processes and services. Your newspaper Matin Libre and its website www.matinlibre.com shine the spotlight on this Beninese who proudly represents his country, Benin, in an online continental competition called Africa’s Business Heroes (ABH), 2022 edition. From 21,000 at the start, the 50 competition finalists were announced on August 1. At the end of August, the jury will announce the Top 20 and in October, the top 10 will be known before the grand finale where each of the top ten will present their project live to international celebrities from the business world in order to win the planned prize.
Tell us how you feel when as an “ambassador” you find yourself today at this stage of the Africa’s Business Heroes competition?
ABH celebrates the ingenuity of the African entrepreneur: African solutions to African problems, taking into account the unique conditions of our continent. In this pan-African initiative, I am proud to carry the voice of Benin. It is true that this is a competition but the most important thing for me is the opportunity to present my contribution, the voice of Benin, in solving the difficulties faced by African businesses. I hope that next year, the competition will be able to expand even further and that Benin will have more than one ambassador! To have been selected among more than 21,000 candidates from 54 African countries is extremely heartening. Being part of the Top50 is a source of pride for me and my colleagues. But this is only the beginning. In this regard, I would like to share with you a very beautiful thought that I have literally adopted for a few years and that I tirelessly repeat to my colleagues at DMD and SATIS FINTECH: “The question is not to know where we come. The question is how far we can go. And we can go far. We have to go very far. We are so behind in Africa that we cannot afford to have a few wins and be complacent. I don’t want to tell my story and maybe make people feel sorry. I want to tell the dream for which I wake up every day and make people’s eyes shine. That our solutions are currently in 14 countries in Africa, used by organizations serving more than 10 million consumers does not satisfy me yet. I want to impact the lives of 300 million African consumers. At this moment and only at this moment, I will really tell you the feeling that animates me.
Precisely, tell us about this competition in detail.
The Africa’s Business Heroes Award competition https://www.africabusinessheroes.org/en/ is the flagship philanthropic initiative led by the Jack Ma Foundation to support and inspire the next generation of African entrepreneurs in all sectors, building an economy more sustainable and inclusive for the future of the continent. Jack Ma, founder of Alibaba Group and the Jack Ma Foundation, created the award after making his first trip to Africa in 2017 and being inspired by the energy and entrepreneurial potential of the young people he met. The first edition took place in 2019; 2022 is the 4th edition. Over a ten-year period, ABH will reward 100 African entrepreneurs and commit to providing grants, training programs and support for the development of an entrepreneurial ecosystem. Each year, ABH’s contest and show features ten finalists who pitch their business to win a share of the $1.5 million grant. The initiative aims to be as inclusive as possible. Applications are open, in English and French, to entrepreneurs from 54 African countries, from all sectors and of all ages, who operate officially registered businesses headquartered in an African country, and who have three years of experience. Finalists are selected after demonstrating that they are visionary entrepreneurs who embody innovation, resilience, growth potential and impact on Africa. Ultimately, ABH seeks people who create positive change in the communities in which they operate and who use innovative solutions to address difficult and relevant issues and specific market gaps. The application process takes place in four stages. Once an application is submitted, it goes through a screening process to ensure that the applicant meets all of the eligibility criteria. If it passes the eligibility check, the entry will be reviewed by the first-round judges to determine the top 50 and their average scores determine the results. Successful applicants move on to the second round where they are featured in video interviews in front of two established business leaders who engage them in in-depth evaluation and discussion of the ideas presented. The average scores of the 50 finalists determine the top 20. The third stage is due diligence, during which the 18 candidates with the highest scores will have to pass a due diligence check carried out by a third party. Finally, the top 15 contestants who passed the due diligence check will advance to the semi-finals. In the fourth and final round, the 15 shortlisted finalists will pitch their projects to a panel of prominent and experienced investors, business leaders and professionals who will determine the top 10 finalists. Finalists who place in the top 10 are selected to compete in ABH’s final competition, streamed online and across the continent, where they compete for a share of the US$1.5 million grant. They also have access to a community of leaders and entrepreneurs to leverage shared community expertise. 1st Prize Winner: $300,000 2nd Prize Winner: $250,000 Third Prize: $150,000 Other Top 10 Finalists (7): $100,000 Each of the top 10 entrants will receive $10,000 to be used for the Global Immersion Training Program .
Is this your first participation? And, did you receive any support from your home country?
This is my first participation in ABH. I heard about ABH through a platform I signed up on last March and was impressed with the application questionnaire. Not only is it very well developed with guides, examples and even encouragement, but in addition, the questions are extraordinarily challenging. There are questions that grip the guts and forced me to question myself and re-think about business and my practice as an entrepreneur. Completing the questionnaire and submitting your application is already a small victory in itself! I didn’t get support from my country for the simple reason that I didn’t ask. Today in Benin, there are state structures that support the Beninese who distinguish themselves and who contribute to revealing Benin to the world. The same question of support was posed to me when last April SATIS FINTECH was the only company from French-speaking Africa selected among the Top10 of the AFI Inclusive Fintech Showcase 2022 which “represent the most promising digital solutions in the world that improve access, use and quality of formal financial services for low-income populations in developing countries and emerging markets” (AFI brings together central banks and regulators from 89 countries including African countries, China, Brazil, Russia, etc. I think that before asking for any support, you must first do something by yourself. There is a proverb in the Fon language (mainly spoken in southern Benin) that says this “Before asking for help to put a burden on your head, you have to lift it yourself to your knee. I am in this dynamic, I had the opportunity as a Consultant and Trainer to collaborate since 2009 on many two entrepreneurship support programs, and I was able to realize that those who start with support without being able to do something themselves do not go very far. I believe that this ability to find the resources necessary to at least trigger the realization of one’s dream is part of the definition of a hero according to ABH and it is probably these kinds of people who constitute heroes and can inspire others to work towards change things, to positively impact Africa and Africans, to improve our world. Now that we are beginning to demonstrate what we are capable of, support that can help us reach more countries, businesses and consumers and realize our vision of being the pan-African specialist in electronic complaints management is welcome. .
Your final word
The ABH program is an extraordinary initiative that responds to a real need in our countries: the need for heroes. Young entrepreneurs need role models, examples of people who have succeeded in entrepreneurship, earning money while making themselves useful to their communities. Not people who have enriched themselves illicitly. I hope that alongside this initiative by Jack Ma, from the Tony Elumelu Foundation program, that other programs led by African entrepreneurs will see the light of day. I hope that in ten years I will be able to return the favor by helping other heroes.
Interview conducted by Jacques BOCO