For most individuals, moving into entrepreneurship usually begins with Discover a enterprise concept, then pursue it as a sideways movement till it clicks. Solely a courageous few exit to check the entrepreneurial waters. Affiong Williams is a kind of few who entered. And previously decade, not solely has the “fruit merchandising” enterprise she based has thrived, however it has additionally efficiently raised funds to drive its international enlargement.
her childhood and profession
Affiong Williams was born on March 9, 1986. She accomplished a primary diploma in Physiology and Psychology with plans to attend medical college afterward to pursue her dream of changing into a physician.
However by the point she graduated from college, she had already misplaced curiosity in drugs and needed a possibility to discover different profession paths. She obtained a Postgraduate Diploma in Enterprise Administration from Wits Enterprise Faculty, Johannesburg, South Africa in 2006, with the hope that this is able to open her as much as different profession alternatives.
Williams landed her first job at an entrepreneurial help group that helps small and medium companies in creating markets – Endeavor South Africa – and started interacting continuously with entrepreneurs. After 4 years of working with and secretly admiring entrepreneurs and the whole lot they stand for, Affiong was prepared to leap in on her personal.
How did Actual Fruits begin?
When Affiong Williams determined to change into an entrepreneur, she knew the enterprise needed to focus On value-added agribusiness and started to think about completely different concepts. The primary plan was to provide fruit juice as a option to cut back post-harvest losses for fruit growers. Nevertheless, Affiong knew that they may not construct a fruit juice manufacturing facility within the early phases of the enterprise. Subsequently, dried fruit processing got here instead enterprise concept that may additionally assist obtain the identical aim. As a dried fruit snack, the product additionally doesn’t require vitality to maintain, which implies that the issue for the Nigerian sector won’t be a difficulty.
- I used to be dwelling in South Africa on the time, and dried fruits have been highly regarded there. I believed I could possibly be the primary to carry it to Nigeria and make it large. Sure, it was daring, however I did not know a lot. In the event you had accomplished some research, you might need left the concept on the shelf. I used to be merely satisfied that Nigerians have been extra open to completely different tastes, based mostly on the number of issues that have been being imported on the time. I believed all I wanted to do was create consciousness and demand,” She mentioned.
She went up and got here to Nigeria to begin a fruit enterprise in 2012. One encouragement to return was the ten million yen UN scholarship for which she utilized and was chosen for the primary spherical. Sadly, shortly after arriving in Nigeria, she acquired a rejection mail which shattered her hopes of getting any scholarship.
- “It was a really troublesome time as a result of not solely was I doing one thing new, however I used to be additionally crammed with numerous self-doubt. I believed I had made the largest mistake of my life, however, after all, I could not stop so early.” she mentioned later.
As market analysis, Affiong began promoting some dried fruits that she had introduced from South Africa. Though the merchandise do not have one of the best packaging, suggestions has been encouraging and Affiong has began producing extra of its flat. It was solely a matter of time earlier than Actual Fruit had the form of drawback each entrepreneur craves. The merchandise have been promoting out rapidly, and the demand was rising even sooner, to the purpose the place it was not possible to fulfill the demand from her tiny condo.
I obtained my first angel investor, and put the cash towards getting an workplace area, a pickup truck, and getting extra palms on the enterprise. It took about 5 years of operation earlier than Reel Fruit obtained the funds to arrange a correct plant with the suitable equipment. Up till that time, the corporate had been as depending on outdoors producers as Ghana was, doing just some processing.
A distinct form of fundraiser
Like most startups, Williams has tried to lift cash for the enterprise however issues simply aren’t going anyplace. The dried fruit enterprise was an unexplored space in Nigeria, and traders weren’t positive the way to make it occur, particularly contemplating the proportion of companies that fail throughout the first 5 years.
When it grew to become clear that it will be troublesome to lift a big funding spherical, the CEO of Reel Fruit took a special method and started elevating small capital from traders for his or her proof-of-concept.
- “As a result of we did not elevate a giant spherical, it grew to become clear that individuals did not imagine the large image. So once we claimed we have been going to develop by x, they discovered it simpler to imagine that we may, for instance, double our gross sales, or rent extra folks, or Opening new places, or launching extra merchandise. That story had extra to do with traders,” Williams recounted in an interview.
On this manner, the corporate has constructed investor confidence and has been in a position to pursue one achievement at a time, based mostly on the funds raised for this function. That manner, when it got here time to lift more cash, traders have been assured of investing their cash in companies that had confirmed themselves in smaller phases. It might take 9 years of operation earlier than the corporate lastly raised its Sequence A.
- “As a result of we have been the market chief in dried fruits in Nigeria, it took our first 5 years in enterprise to show that this wasn’t a flash product. Whenever you couple that with all the opposite challenges of fundraising in Nigeria, it is simple to see why it took so lengthy. However I am pleased with the consequence.” mentioned Williams.
Reel Fruits sells a spread of dried fruits and snacks by way of quite a lot of channels together with greater than 700 shops, airways, colleges, inns and export gross sales by way of Amazon.com. Affiong operates a staff of over 80 employees in 3 regional places of work in Nigeria and has created employment alternatives for 50 rural ladies skilled to develop top quality, export high quality mangoes in Kaduna.
In September 2021, ReelFruit closed a $3 million Sequence A funding spherical to develop manufacturing capability 5x to fulfill rising demand. The corporate is now targeted on increasing its buyer base outdoors Nigeria, collaborating with extra farmers to do away with extra fruit and cut back waste in several components of Nigeria, and rightfully incomes its place because the market chief on this discipline.
“Over the subsequent decade, we’re working to diversify our buyer base. So whereas folks know us as a client model, and we’ll proceed to take action, we need to course of numerous the inputs for the large producers, like baking, and we additionally need to concentrate on export. These two segments are the place we see numerous Most of our development will come from it, and that is the place we’ll concentrate on constructing the flexibility to try this.”
Awards and certificates of appreciation
One needn’t be a serial entrepreneur earlier than the honors come. Beginning and constructing a world model from a one bed room area in Yaba takes guts and skills past the peculiar.
She has been invited to many boards on agribusiness, funding and commerce together with the inaugural Africa Commerce Honest, Cairo 2018 the place she was one of many audio system. Finalist within the Try Masiyiwa Go Gettaz Initiative in Accra, 2019; AFDB Entrepreneurship Market Days Exhibition. Johannesburg, 2019; and AFDB African Youth Agripreneur and Agripitch Discussion board, CapeTown, 2019.
Winner of Village Capital Agriculture Accelerator, Kenya, 2020. In 2022, Affiong Williams was named the primary winner of the distinguished Veuve Clicquot Daring Girl Award.
Affiong is enthusiastic about entrepreneurship, agriculture, and politics and is an avid runner, having completed greater than 15 marathons and elevating cash for charity within the course of. Her primary piece of recommendation to incoming entrepreneurs is to hunt information.
- “Errors are pricey by way of money and time, and in search of extra skilled folks that will help you keep away from errors is usually price greater than cash.”