A local institute has launched training for local start-ups on negotiation skills to help them tap foreign investment capital and develop linkages with US investors. The African Negotiation Institute and the Chartered Academy of Negotiators (ANICAN), seeks to give leaders soft-skills to handle a variety of important tasks with confidence and solve each problem with expedience.
ANICAN Group President Prof Alexander Moses, said the Institute will mentor, train, coach and guide both emerging and existing African entrepreneurs to be better negotiators and deal closers. “We all negotiate and one of the skills that is lacking in Africa and among African professionals as well as entrepreneurs with emphasis to Kenya, is that we have several passionate startups that never survive the first 3 years,” said Prof Alexander.
The institution targets young entrepreneurial students to retired civil servants as well as women and young startups. “Lack of effective negotiation skills has been identified as one of the main reasons that has affected the growth of such individuals,” he said.
He spoke on the sidelines of ANICAN’s maiden launch of Chief Executives Forum in Africa, in collaboration with Harvard University at the Vila Rosa Kempinski over the weekend. The forum saw billionaire businessman Dr Chris Kirubi awarded Honorary Chancellor and Life Grand Patron of ANICAN.
The International Monetary Fund (IMF) report of 2015 shows Africa has attracted investment from industrialized countries, with Kenya recording $ 1.9 billion by the end of 2015. Some of these foreign direct investments come from France, the United Kingdom and the United States and emerging economies such as China, India, South Africa, and United Arab Emirates.
The CEOs Seminar enables the institute get vital business information like potential investors contacts, teaching participants to pitch and get funded or win international partnerships and most importantly sponsor those who will attend an executive education program at the Harvard University this year.
“Our approach for this is preparing the bride (Africa) for the groom (USA) whilst ensuring that the bride understands how to woo the groom, partner with the groom and cohabit with the groom as far as partnerships, investments and building businesses is concerned,” added Group President Prof Alexander Moses.
State Corporation, Micro and Small Enterprise Authority (MSEA) estimates the country to have 12.6 million entrepreneurs that employs 80 percent Kenyans contributing 20 percent of economic growth. Most of these start-ups are, however, unable to take their innovation to the next level of growth largely due to lack of cash, with most concerned over losing property rights to wealthy investors.