AfriBlocks Network
Embarking on a mission to revolutionize the intersection of finance, trade, and technology in African agriculture is Penny Musengi, the visionary Founder and CEO of Pesira Technology. With an extensive background spanning over 18 years in diverse leadership roles, including finance, investments, sales, marketing, and community development, Penny is committed to driving positive change. In this exclusive interview, we delve into Penny's motivations, the journey of building Pesira Technology, and the profound impact her innovative solutions are poised to make in the realm of African agriculture.
The Birth of Pesira Technology
Penny Musengi's journey into entrepreneurship began with a deep understanding of the challenges prevalent in African agriculture. Having actively engaged in social projects for over a decade and belonging to a pastoral community, she identified key issues such as financial exclusion, livelihood improvement, job creation, food security, climate impact, infrastructure deficiency, and limited access to information, inputs, and markets. Motivated by the desire to create a comprehensive solution, Penny founded Pesira Technology. The Pesira Solution, an all-in-one platform, integrates financial services, marketplace capabilities, and technology solutions, fostering collaboration among various stakeholders to support small-scale farmers.
Excitement in Addressing Real Challenges
When asked about what excites her most about building Pesira Technology, Penny exudes enthusiasm about addressing current and future challenges with a real impact on people's lives, economies, and the environment in Africa. She emphasizes the alignment of her endeavors with the Sustainable Development Goals (SDGs), showcasing the broader global significance of the work being undertaken.
Team Growth Challenges and Strategies
Growing a team is a common challenge for startups, and Pesira Technology is no exception. Penny identifies expertise as a significant hurdle. While acknowledging the challenges that come with training, she underscores the importance of creating multi-faceted team members. Penny says, “We spend a lot of time in training the team but on the upside, we then ensure they are well rounded. If it's in development, they are full stack engineers or if it's other areas, they are conversant with entire business operations.”
She also mentions the expense and retention challenges associated with hiring experts, especially for a startup. Penny believes in strategic outsourcing for functions that do not require a full-time resource, optimizing workload efficiently. Looking ahead, Penny plans to scale her team by aligning employee values with organizational values. Clear growth paths, necessary resources, periodic performance reviews, and an inclusive culture are integral components of her strategy. Milestones are set to guide future resourcing needs based on the company's major goals in terms of growth and finance.
Words of Wisdom for Aspiring Founders
Reflecting on her journey, Penny shares valuable "words of wisdom" for founders embarking on their startup ventures. She emphasizes the importance of resilience, belief in the mission, and surrounding oneself with experts and advisors to navigate doubts and rejections. Most crucially, she advocates for disciplined execution as the key to progress and lasting success, encouraging founders to build for the long term—aiming for a legacy that spans generations.
Connecting with Penny Musengi
For those eager to follow Penny Musengi's journey and stay updated on Pesira Technology's groundbreaking work, she can be found on LinkedIn at Penny Musengi's LinkedIn and on X (formerly Twitter) @PennyMusengi.
As Pesira Technology continues to revolutionize African agriculture, Penny's leadership serves as an inspiring beacon for those aspiring to make a meaningful impact through innovative solutions. The fusion of finance, trade, and technology under her guidance is paving the way for a brighter and more sustainable future for small-scale farmers across the African continent.
