Africa’s biggest economies often churn out startups on a regular basis and some of these businesses go on to become key players in the growth of the continent. But what of Africa’s smaller, emerging economies?

According to a 2023 report by Africa: The Big Deal, 29% of the startups that raised $100,000 or more in 2023 were located outside the big four regions, namely Nigeria, South Africa, Kenya and Egypt. Donaldson Sackey, a former international footballer-turned-entrepreneur from Togo (a narrow strip of land in Africa’s West coast), who has helmed a fashion business and now has interests in fintech and energy, says that being a serial entrepreneur in one of Africa’s smaller economies has its pros and cons.

“On the one hand, there is often a sense of possibility and economic potential, as smaller economies might provide niches that have yet to be completely explored or tapped into. However, in some smaller economies, regulations may be unclear or inconsistently enforced, making it Sackeychallenging to understand what is required to operate legally and comply with regulations.

Despite the hurdles, becoming a serial entrepreneur in a tiny economy may be quite rewarding.” Therein exists massive opportunities to create significant impact on the local economy.

“I believe that as a growing entrepreneur, you have a lot of ideas in your daily life, but the most important thing is to actually understand them and put them into action. You must understand that you are in it for the long-term and that it will not become the largest company overnight.

”Sackey says he is now involved in coaching aspiring business owners, and is committed to education, particularly in the field of technology.

“I think that young people in Africa, and particularly in Togo, are intelligent and creative, but there are often gaps in their educational opportunities, so I provide them with the knowledge I have gained from my courses, many of which are offered online to learn more about various business sectors.”