#81: Elo Umeh - On Leadership, Purpose and Building a Scalable Tech Company in Africa

Building The Future Podcast

This season of Building the Future was made possible by Moniepoint

My guest today is Elo Umeh, founder and CEO of Terragon Group, a leading data and marketing cloud company in Africa. I've known Elo personally for some time; his leadership at Terragon has been transformative.

Founded in 2009, Terragon initially focused on mobile websites and launched Twinpine, a mobile ad network, in 2012. Under Elo's guidance, Terragon now offers marketing automation, customer data platforms, and enterprise insights, impacting over 350 million profiles in Africa. They acquired Alcatel Lucent Mobile Advertising across 16 markets, integrating 60 million customer profiles, and also acquired their long term technical partner, BiZense (India).

In this episode we discuss:

• The significance of achieving substantial enterprise value (EV) relative to the capital raised, aiming for a 10x return to ensure strong, scalable businesses and meaningful returns for investors.
• The unique challenges and opportunities in the African market, emphasizing the need for patient capital, understanding local value chains, and building strong relationships to navigate infrastructure and liquidity issues.
• The crucial role of leadership and investor responsibility in fostering sustainable businesses, advocating for realistic EV expectations and a focus on long-term value creation and responsible business practices.
• The importance of staying passionate about your venture, maintaining humility, and focusing on customers to drive long-term success and adaptability in the business world.
• The differences between creating a product and building a company, stressing the need for embedding the founder's vision, culture, and governance structures to ensure long-term growth and stakeholder engagement.

Elo also serves as an Executive in Residence at the Lagos Business School, shaping business leadership in Africa. Join me as we explore Elo Umeh's journey and insights in driving digital innovation on the continent.

Book Recommendations:

• When Breath Becomes Air by Paul Kalanithi
• Better, Simpler Strategy: A Value-Based Guide to Exceptional Performance by Felix Oberholzer-Gee
• Grit: The Power of Passion and Perseverance by Angela Duckworth

Quote: A company is not yet a company if it doesn't deliver a platform for sustained wealth creation.
Transcript

CREDITS

Host: Dr. Dotun Olowoporoku
Produced by: The Subtext
Editing: Osarumen Osamuyi, Chinedu Anatune
Show Notes: Grace Obaloluwa
Design: Jonathan Nwachukwu
Voice Overs & Project Coordination: Damilola Teidi
Season Intro Video: Chukwuka Ezeiruaku