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​Team diversity – the key to winning 4th African Challenge Business Model Competition

Published on: 27-Dec-2019

Juggling internships and school, PEAK Consulting knew that this 6-month competition was going to be an uphill battle, especially as the team started off with limited knowledge on the African landscape.
 
Nonetheless, through their strong teamwork and sheer determination, PEAK Consulting – comprising Hasyimah Jasni, Year 3, Bachelor of Business (Marketing), Lau Shu Qing, Year 4, Double Degree in Accountancy & Business (Business Analytics), and Chen Yi Heng, Year 4, Double Degree in Accountancy and Business (Human Resource Consulting) – beat 48 other teams to emerge as champions of the 4th African Challenge Business Model Competition. 

Hosted by the NTU-SBF Centre for African Studies (CAS), the annual African Challenge Business Model Competition challenges undergraduates to develop a business plan for a new venture in Africa. Through this competition, CAS hopes to increase awareness of Africa as an investment destination amongst the young people of Singapore, stimulate thinking of startups in the emerging countries of the world as well as stimulate the entrepreneurial competencies.

PEAK Consulting’s business plan centred on an in-depth Go-to-Market Strategy to bring Singapore's unique university internship structure to South Africa, with the aim of providing quality job experiences for the locals. While working on their business plan, the team also gained invaluable insights on solving social problems in countries which may not be as privileged as Singapore. 

“We played to our strengths and never gave up even when the going was tough,” shared Hasyimah. She also credited the team’s win to their diverse backgrounds. “As we come from different specialisations, we were able to come up with a more comprehensive solution to tackle the issue identified. After all, in the real business world, no department operates in silos,” added Hasyimah.

“We are very happy and thankful that our hard work paid off. We are grateful to CAS and Olam International for this opportunity to discover what Africa has to offer. It was a great experience for us – to be able to translate theoretical knowledge we learnt into business plans for case competitions like this,” said Yi Heng and Shu Qing.

The team also expressed their gratitude to CAS for the advice and support throughout the competition.
 
For their efforts, Peak Consulting was rewarded with an all-expenses paid trip to Africa for one week, sponsored by Olam International. 

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1st prize winner – Peak Consulting with Mr Johan Burger, Mr Claudius Nhema, Charge d’Affaire of Zimbabwe to Singapore, His Excellency Jean de Dieu Uwihanganye, Rwandan High Commissioner to Singapore, His Excellency Modise Mokitlane, High Commissioner of South Africa to Singapore and His Excellency Akinremi Bolaji, High Commissioner of Nigeria to Singapore

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2nd prize winner – Green Lions (Ms Emilia Wong Xin Yi, Ms Tania Kristabel M and Mr Derrick Chua Lye Meng) with Mr Johan Burger, Ms Elaine Yen from Top International, Mr Claudius Nhema, His Excellency Jean de Dieu Uwihanganye, His Excellency Modise Mokitlane, Ms Karen Yeow from Top International and His Excellency Akinremi Bolaji

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3rd prize winner – Afraca (Mr Shawn Van Gia Tua, Ms Chan Jie Yi and Ms Phoebe Chua Jia Jia) with Mr Johan Burger, Mr Claudius Nhema, His Excellency Jean de Dieu Uwihanganye, His Excellency Modise Mokitlane, and His Excellency Akinremi Bolaji



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