Modeste’s career not only proves that work is the key success factor, but also confirms that business acumen is a gift. He has obviously been endowed with that gift and has developed it over the years and challenge after challenge.
By Dounia Ben Mohamed
Barely arrived in Kampala, where the last edition of Africa SME Champions Forum was held, its Chairman, Didier Acouetey, called him: « Modeste, my champion! In fact, the career of the Ivorian entrepreneur Modeste N’Gou, confirms the importance of this platform of which he will not miss any edition.
« I have a particular career ». This is the least we can say. Born in 1970 in Aboville, in a village in Côte d’Ivoire, Modeste finds himself half a century later at the helm of a flourishing pan-African group. In the meantime, a faultless career for this workaholic, and no doubt a true business acumen that has led him to seize opportunities when they arise. And may be a lucky star.
From the age of ten, at the school of life
« As a kid, I was a good student. I was even brilliant. My teacher convinced my parents to send me to continue schooling in the city, where I would have better opportunities. In fact, taken in charge by his older brother, Modeste found himself, at the age of 10, in Abidjan. A studious student, he completed his schooling without difficulty before continuing on to university. However, he had to wait for the DEUG to find his way. Accounting. After his BTS, he started a career in the profession, evolving very quickly, from trainee to executive, for large companies. « At that time, entrepreneurship was not prevalent in Côte d’Ivoire ». But with Modeste, it is innate. He began to operate, besides his salaried activities, as a freelancer for local companies. He set up large financial operations and began to make a name and a capital for himself. « It is in my blood.” Then came the political crisis of 2002. He lost his job. But a lucky chance brought him to CETELCOM’s doors.
« I get bold, and ask them to sell me the company…I have a good hunch »
« During the crisis, my office was looted and broken. I stayed at home for several months. In the meantime, I prospected in my networks and ended up joining CETELCOM, my last company as an employee. I remember, I was interviewed at the Novotel where the whole government was bunkered. I was selected. Very quickly, I noticed that they had cash flow problems. I then used my address book to look for funds. The business went very well. The following year I was assigned the task of country manager. This was a first, as foreign companies had previously been accustomed to assigning the task to one of their expatriates. Modeste travels, strengthens his network, broadens his field of competence. But when one of the company’s biggest clients breaks its contract, the management wants to close down. « I want to continue, I take advantage of it, I got bold, and asked them to sell me the company. Their assets but also their liabilities. But I have a good hunch. For the last sixteen months, I was already managing the whole business. I was everywhere at once, including on the ground. I could take over the business and grow it. » With a big challenge at the start: « When they leave, they take the company name. Suppliers know me as a person not but don’t know the new company. I believed in my faith, refused to go into debt with the network, and chose to attend its seminars. That’s how I ended up at Africa SME Champions Forum. »
From telecoms to construction, from Côte d’Ivoire to Cameroon
The platform, dedicated to SMEs, allows Modeste to connect with financial partners but also to strengthen his skills. Studious, Modeste participates in all the masterclasses, all the editions. He grew more confident. His business develops… and diversifies. « When I took over the company, there was only one activity, only one client. I don’t want to repeat the same mistakes. I’m diversifying our business and expanding the customer portfolio. In installations, energy, etc. We’re getting Huawei, Orange, Moove… The doors are opening. All the equipment manufacturers in the area are my customers. Until today. » It now covers the entire value chain. From fiber optics to maintenance. « I identify needs and provide solutions. » This has enabled him to move into other markets, electricity, construction and public works, and other countries, Cameroon, Togo, Benin and Burkina Faso.
At the core of his success are two key elements of entrepreneurship: leadership and financing. « Leadership is one of the most important elements when running a business. And no matter how big it is. You always have to renew yourself. Entrepreneurship is not a long, quiet river. You have to adapt and adjust. Your business, your teams. In Africa, we don’t have a problem with skills but with mindset. » Similarly, Modeste has been able to make the right decisions in terms of financing, avoiding the mistakes of his peers. « The biggest danger of an entrepreneur is trying to go for funding too fast. I’ve forbidden myself from doing certain things, » he says. When a company grows like mine, you quickly run into cash flow problems. Business angels, capital-investors and others come to you like predators, making eyes at you, injecting 1 or 2 billion, but finally becoming your boss and imposing directions that are not necessarily adapted to your company. This is what I avoided, in order to have a more solid company and keep all the cards in hand. »
He stressed: « especially since we, local operators, unlike multinationals, get financing at insane interest rates! Between 15 and 20% while in France they are between 1 and 3%. When we are competing on a market, this gives them a 15% minimum lead over you! These are issues that our States should take on. Support structures for local companies do exist but the concern is in their operationalization. There is a strong dynamic of private entrepreneurship in Côte d’Ivoire, as well as in West Africa, but it must be supported by a real political will. This is in the interest of these States. These SMEs which ensure 90% of the economy, if they are stable and create wealth and jobs. SETELCI has more than 150 direct employees, not counting indirect jobs. Our leaders would benefit from bringing a better solution to the problem of companies. Not everything is about money. We need to create capacity building frameworks, networking frameworks. »
In the meantime, Modeste is embarking on a new business venture, real estate development.
