With the backing of an MBA obtained in USA and a passion for uplifting those closer to home in South Africa, Palesa Nangu is the founder and CEO of African Innovation Solutions (AIS).
AIS aims to showcase the innovative potential of Africa. Through regular events and talks, the company provides a platform for the youth to connect with potential investors, educators, academic institutions, and small, medium, and micro-sized enterprises (SMMEs).
“As the CEO of AIS, I am proud to lead an organisation that was established to address the gaps in support for youth innovators in Africa. We recognised that there was a lack of information, access to academics, support, and funding direction for the youth, who often went unrecognised and uncelebrated despite their achievements in innovation,” Nangu told Business Report.
The 29-year-old says she faced many challenges on her journey to becoming a CEO.
“Having grown up in South Africa, I faced numerous challenges as part of a disadvantaged demographic. The support and encouragement I received from the African community has always inspired me to give back. Africa is my home, and I believe that by harnessing its boundless potential, we can achieve great things together,” she says.
Having obtained an MBA in the US, she says her passion for focusing on the African continent stems from her upbringing and personal experiences.
Nangu was born in Baragwanath Hospital in Soweto, South Africa.
She said growing up, she lived in a government RDP, four-roomed house.
“I am the only child to my parents and I was fortunate to be raised in a loving and inspirational home that shaped my character. Despite facing numerous challenges and the loss of both my parents at a young age, I was fortunate that through community support and determination, I managed to pursue an MBA in the US,” she said.
“Upon returning to South Africa, I faced the harsh reality of unemployment, a common struggle for many young people in the country today. However, I persevered and eventually secured a job, working my way up from there. Currently, I am based in Cape Town, leading AIS as its CEO. In this role, I encounter daily challenges in the innovation support and showcase ecosystem,” Nangu added.
She says that life’s trials had taught her to push herself to the limits.
“I would like to encourage the youth to view challenges as opportunities for growth. Each challenge we face makes us stronger, and these adversities are intended to improve us, not embitter us. Seek inspiration from great leaders and learn from them. Embrace the power of listening and let knowledge empower you,” she said.
“I strongly encourage the youth to explore innovation and engage in start-ups, entrepreneurship, and SMMEs. The young people of South Africa possess incredible talents and must utilise every tool at their disposal. Embracing the power of innovation is essential to their success.”
One of the reasons many businesses fail in South Africa is the lack of funding and mismanagement of funds.
“Additionally, not staying abreast of market changes and having a strategy without tactics or vice versa can lead to failure. At AIS, we have strategic plans in place to address these issues and assist SMMEs in sourcing financing. While we are a relatively new start-up ourselves, we have developed strategies to achieve this goal. At AIS, we are dedicated to supporting and celebrating African innovation. Together, we can overcome obstacles and build a brighter future for the youth of South Africa and the continent as a whole,” Nangu said.
BUSINESS REPORT