The popular Bible quote, “Don’t despise small beginnings…,” has never been truer in all its sense.
It perfectly sums up the story of how three fresh Ghanaian university graduates hatched a tech idea about 13 years ago and started working hard at it from a dining table.
According to a post shared on Facebook by one user, Yaw Frimpong Tenkorang, the team never took a loan to start off as their first attempt failed woefully.
Screenshot of Facebook post by Yaw Tenkorang
Fast-forward to 2018 and their growing customer base of 25 million includes several banks.
The company also owns $1.25m office complex in Accra, Ghana’s fast-growing capital.
Indigenous tech giant, Hubtel started its operations under the name SMSGH which specifically provided Bulk SMS service for businesses.
With only GH₵15 ( $3.09) as capital, the company which has diversified over the years rebranded last year (2017), from SMSGH to Hubtel and now rakes in some $20million from its operations, according to the founders.
Hubtel also has offices in Nigeria, Cameroon, Kenya and the USA.
Obviously such a huge business would employ a chunk of Africa’s youth which provides a way out for African government’s burden with the rising rate of unemployment.
The tech company has morphed from providing bulk SMS solutions to providing businesses with top notch all platform integrated mobile payment system and Point of Sale (POS) platform that helps business to easily manage and track sales, manage employees and monitor progress.
The three founders at the launch of Hubtle with media personality, Anita Erskine
“We are happy there is so much talent in Ghana in the indigenous IT firm. We as government want to create the environment for your business to thrive in education, revenue collection, data management and more. We want to encourage you and support and know what you are about, so we can consider you in our policies,” the Vice President of Ghana, Dr Mahamudu Bawumia was cited as saying during his familiarization visit to the firm earlier this year.
“What Hubtel does is to create the platform- bulk messaging, payments, and digital commissions. We basically started this company with just GH₵15 but today we have branches all over the world. Our first product was bulk SMS which helped to enhance the communication system of businesses,” Chief Executive Officer of Hubtel Limited, Alex Adjei Bram was also quoted as saying during the Vice president’s visit.
https://businessworldghana.com/global-business-coach-mac-attram-to-speak-at-24th-mtn-business-world-executive-breakfast-meeting/
Hubtle, according to myjoyonline.com, is the first indigenous tech start-up in Ghana to receive investor valuation in excess of USD 25million, as well as being the first to launch Ghana’s first online and mobile web SMS service in 2007.
Hubtel is also Ghana’s first tech start-up to be featured in Forbes magazine in its February 2012 edition.
By Pamela Ofori-Boateng/ Business World Ghana