2023

Impact Report
 WHY WE ARE BULLISH ABOUT AFRICA
Africa holds 30 percent of the world’s remaining
mineral reserves, many of which are critical to
renewable and low-carbon technologies including solar,
electric vehicles, battery storage, green hydrogen and
geothermal. According to the World Bank, in order to
meet the expected rise in global demand, production of
minerals and metals such as lithium, graphite and
cobalt will need to increase by nearly 500% by 2050.
This cannot be achieved without Africa’s resources.

No other world region is urbanizing faster than Africa,

not even historically: It took Europe 110 years to move
from 15% of the population living in urban areas in
1800 to 40 percent by 1910. Africa has achieved this in
only 60 short years (1950-2010) – almost half the time.

The expanding middle class in Africa is driving demand

for consumer goods, services, and infrastructure
development. Not only does this demographic
represent effective demand but is also an exponential
Five years ago, I curiously put out a poll, with pool of skilled labor.
a simple question. And here I am, asking you
too (don’t think too much about it): OPPORTUNITY. That’s the word to describe Africa. With the
continent only contributing a paltry 3 percent of the global
1.2.3., What’s the first thing that comes to GDP, how shall we leverage its demographic dividend and
mind when “Africa” is mentioned? vast natural resources’ envelope to benefit Africa?
Bar only one response, Yes, only 1 response The easy and quick answer is Entrepreneurship.
(Yes, one in all 5 years), every one of my
respondents answered everything but TBN Africa's raison d'être and focus is Job Creation by way
opportunity. (Jonny Price: if you are reading of supporting growth-stage businesses to grow and scale by
this, congratulations again!) way of training and mentorship, and keeping them in
community, in addition to giving them access to capital,
At 1.4 billion people now, the world's markets and supply chains.
population is heading towards an African
majority. With 18% of the world's people in To date, we have supported 500+ of these small and
2023 (twice the number in Europe), Africa is growing businesses, almost half of which are women-led.
the world's youngest continent with over 70 We have helped them raise close to $20M and by so doing,
percent of its population under the age of 35. created over 2000 additional jobs. These numbers
represent real people and real businesses.
How ever you look at it, that’s the good news.
And you ask, why? From engaging with individual and institutional partners to
funders and investors, we are big on collaboration at TBN.
Africa has 60 percent of the world’s We believe that together, we go far. Thank you for coming
remaining arable land. alongside us on this odyssey.
Africa sinks more carbon than it emits by And from all of us to YOU: Merry Christmas! We’ll catch
far. Its Carbon cost of economic growth in you on the fast lane in 2024.
Africa lies far below the rest of the world.

Jacob Zikusooka
page 02 Regional Director - TBN Africa
INTRODUCTION
ABOUT US
Transformational Business Network Africa is We use our Networks, Skills and Resources to
an Impact - led Global movement that build a community of purpose-driven and value-
supports both early stage and growth stage based entrepreneurs who are passionate about
entrepreneurs to build profitable businesses using the power of business to fight poverty.
and make them bankable/ investor ready.
In our quest to fight poverty by building a vibrant
We believe only profitable businesses are entrepreneurial ecosystem, the Transformational
impactful. Business Network's (TBN) mission is hinged on
three key pillars:

KEY PILLARS:

Capacity: Through our flagship training “Scale for Success” program, we develop
investable pipeline through accelerating the businesses we engage. To date, we have
supported a total of 517 businesses.
Capital: Through our global investor network, we have helped mobilize in excess of USD 19
Million which has been invested in the businesses we are involved with.

Community: We have facilitated collaborations in our entrepreneur community that has

resulted in new opportunities, access to new markets and knowledge sharing.

page 03 2023 Annual Impact Report

OUR
PROGRAMS
Within the fabric of our programs, a series of stories of growth, scale and impact.

Scale for Success

An experiential learning - based training and coaching
program which guides an entrepreneur to develop an
effective business strategy, drive business growth,
streamline operations, understand requirements for
scaling and become investment ready.

SME Growth Lab

The SME Growth Lab isn't just a training ground; it's a
powerhouse designed to equip entrepreneurs with
skills that transcend the post-pandemic world.

Zahara
Arabic for “A Flourishing Flower” is our women-focused
entrepreneur program. There is a $42 billion financing gap
for women-led businesses in Africa. At the current pace of
financing, it will take close to 200 years to bridge it. The
task at hand is daunting. Through partnerships with the
African Development Bank's AFAWA program and the
African Guarantee Fund, we are committed to enabling
over 100 women entrepreneurs to raise over $3 Million.
By way of partner banks like ABSA Bank, Cooperative
Bank, Stanbic Bank and private lenders like JIA, we are
making significant headway.

Tier 2 Cohorts
At TBN Africa, we have always known that tier one cities
like Nairobi and Kampala are over-served. Over the last
couple of years, we have had our sights on tier two cities.
In Kenya's Machakos and Nakuru, we were in for a
pleasantly good surprise when we found entrepreneurs
with revenue positive businesses that have all the right
fundamentals lined up for growth and scale. This has
strengthened our resolve to go even farther afield.

page 04 2023 Annual Impact Report

A SYMPHONY
OF IMPACT

Group Coaching
Over the last 12 months, we held 30
sessions that have benefited over 140
entrepreneurs who found not only
encouragement for their journeys but also
peer support on how to navigate
bottlenecks in their businesses.

Tier 2 Cities

Our expansion to Tier 2 cities wasn't just a

launch; it was a triumph, a testament to our
commitment, backed by the John Templeton
and Argidius Foundations. The success stories
from these programs aren't just milestones;
they're echoes of growth, knowledge, and
community building.

page 05 2023 Annual Impact Report

 Webinars

In the digital space, our webinars weren't

just virtual events; they were knowledge
hubs. Partnering with ABSA Bank Kenya
and Exim Bank Uganda, our financial
literacy webinar on "Building Financial
Resilience in a Changing Economic
Landscape" wasn't just an event; it was a
tool equipping entrepreneurs with
essential financial management skills. The
impressive turnout and positive feedback
weren't just metrics; they were
affirmations of impact, motivating us to
plan more webinars that resonate with the
needs of our entrepreneurs.

Community Engagement

Beyond the programs, our community

engagement wasn't just a checkbox on a to-
do list; it was a series of events pulsating with
purpose. Our collaboration with Junky Bins
for World Environmental Day wasn't just an
event; it was an alignment with passion,
echoing the commitment of our alumni like
Lucy to environmental causes. Our CSR
activity with Olivelink Healthcare wasn't just
an initiative; it was a hands-on commitment
to community well-being. Our honor of
Breast Cancer Awareness Month wasn't just a
gesture; it was a tangible expression of care
as we visited Dr. Nicholas of Stratus Medical
Center, which provides free breast cancer
screening services.

page 06 2023 Annual Impact Report

FROM ADVERSITY
TO ACHIEVEMENT
VIOLET KALOMBA’S JOURNEY WITH TBN AFRICA
The transformation was remarkable. Diversification
into renewable energy and construction opened
new avenues for Tetranet’s growth.

Landing contracts with Safaricom Plc (East Africa’s

telecom behemoth) in Ethiopia showcased their
newfound agility. The results spoke volumes.
Tetranet's revenues doubled in 2022, achieving a
stunning 200% growth compared to the previous
year. This dramatic turnaround reflects the
company's successful implementation of the
strategies and tools acquired through TBN's
support. Their team expanded, adding 82
employees. Tetranet went from just surviving, to
thriving.
Tetranet Services Limited, a Kenyan company
juggling telecommunications, ICT, construction, and
And the impact extended beyond the balance sheet.
renewable energy, was feeling the squeeze in 2021,
Tetranet's commitment to CSR shone brightly
on the heels of the pandemic that had wiped out
through community outreach programs and support
70 percent of the country’s small businesses.
for local schools. They were no longer just a
Internal struggles with cashflow and teamwork, a
company, but a beacon of hope, proving that with
shrinking market, and with rising costs threatening
the right support, even the toughest challenges can
to dim their prospects.
be overcome.
Against this bleak outlook, Violet joined the TBN
Tetranet's story is a testament to the power of
Entrepreneur Program last year.
collaboration. By providing targeted support in
critical areas, TBN empowered a struggling business
A needs assessment pinpointed the pressure
to reach for the stars. And as Tetranet continues to
points: Undefined Company Culture. Fierce
soar, one thing is clear: even the sky is not the limit!
Competition. A Shrinking Market. Tailored coaching
sessions, training workshops, and expert
consultancy in HR, marketing, and finance
equipped Tetranet with the tools they needed to
claw back their share of the market. Clear
expectations, regular feedback, and a defined
vision boosted employee morale and productivity.

page 07 2023 Annual Impact Report

OUR
IMPACT

$19.2M USD Capital Raised

517 4370
Entrepreneurs Trained Jobs created

Average Business
21.1% Growth Rate

49% Women Led

89% Satisfied with TBN

Stanbic Bank Uganda’s Executive Director - Mrs Emma Mugisha, at our end of
year entrepreneur celebration in Kampala

page 08 2023 Annual Impact Report

 Our Partners

KE: + 254 114 804 587 | UG: + 256 778 040 757
e: programs@tbnetworkafrica.org
www.tbnetworkafrica.org