By Ernest Nutsugah
Accra, Oct. 11, GNA – Dr Sangu Delle, Chairman, Golden Palm Investments, Friday urged entrepreneurs and investors to conduct “due diligence” on one another to ensure transactions and partnerships achieve stated goals and objectives.
Speaking at the Agricultural Innovation for Africa Conference in Accra, he noted that investment and partnerships should be built on “trust, alignment, and communication.”
“In venture capital, trust starts with due diligence…not just investors doing due diligence on founders (entrepreneurs) but founders doing due diligence on investors too…
“I can tell you there some terrible investors out there; investors who will ghost you when times are tough…Investors who will want control without commitment, and investors who will promise smart capital but deliver stress…so do your background checks,” he stated.
The two-day Conference, organised by Kosmos Innovation Center (KIC), in partnership with the Alliance for Green Revolution in Africa (AGRA), and Kosmos Energy, was on the theme: “African Youth Leveraging Innovation for Sustainable Food Systems.”
It brought together policymakers, investors, agri-enterpreneurs, researchers and other stakeholders to explore practical solutions to challenges in the food systems, youth empowerment, and food sustainability.
Dr Delle, speaking on the topic: “The Meeting Point: Investors & Entrepreneurs,” emphasised transparent business partnerships based on mutual personal and organisational values.
He stressed the importance of open and honest communication in business relationships, adding that entrepreneurs must be willing to take risks.
“Don’t skip due diligence because of excitement; just because a pitch looks good doesn’t mean the partnership will work. Just because the investor is from New York doesn’t mean all their promises will come true…don’t just raise capital, raise compatibility,” he noted.
“Trust is not about naive optimism but informed confidence…In every relationship, communication builds trust…when communication is alive, even failure becomes survival.”
Calling for sustainable and long-term partnerships, Dr Delle noted that positive relationship between entrepreneurs and investors would help grow and transform businesses.
“Enterpreneurs should always ask; can I trust this investor when things go wrong, can I communicate with them honestly without fear, and are we aligned, not just in strategy but in spirit.
“Investors must also ask: Do I believe in this partner to suffer with them, do I trust them to tell me the truth, and do our visions of success rhyme. Capital is a lot easier to find but character is rare,” he added.
Mr Benjamin Gyan-Kesse, the Executive Director, KIC, said the conference, among other things, was to deepen the knowledge of the youth in agribusiness ventures and encourage them to explore existing opportunities in the industry.
He said KIC and partners would continue initiatives aimed at helping young people appreciate and take up agribusiness as a lucrative venture.
“It is important to continuously expose the youth to opportunities in the agribusiness value chain…it is business to feed Africans, it is business to feed the rest of the world,” he said.
The conference included an exhibition, masterclass on food innovation techniques, and opportunities provided for enterpreneurs to pitch their business ideas to prospective investors.
GNA
Edited by Agnes Boye-Doe