Founder Series: Noxolo Mthethwa
Showcasing the incredible people driving the direction of Boost. Today, we talk to Noxolo Mthethwa, ‘Noxy’, the co-founder and CEO of Boost South Africa.
Noxy is a serial entrepreneur and change agent! Prior to joining Boost she founded a thought-provoking, youth-focused national newspaper that reached 500,000 subscribers and co-founded Defining Moments, a tech start-up that enabled the Call Centre and BPO space. Noxy is also a part of Activate! Change Driver, and an alumni of the Cherie Blair Foundation for Women.
How would you briefly describe who Noxy is?
I am just an ordinary human being who has a passion for finding creative ways to solve the wide array of present societal problems, and thus contribute to collective economic development and human prosperity.
Looking back to your past experiences, which 3 phrases would best describe what you've been able to accomplish so far?
A fulfilling experience, in contributing to solving unemployment.
A learning experience, drawn from meeting new people and learning from different situations.
A change-focused experience, by creating a paradigm shift in how people think, to help them come out of challenging times.
When you came across Boost’s mission, what drove your curiosity to where you decided to join as a founder?
Individuals working in the informal sector are largely part of a population normally forgotten by society and business, and with Boost invested in empowering individuals in that sector, I felt drawn to the mission. I was also drawn by how Boost has a personal relationship with customers and their growth, as opposed to the huge emphasis on imposing processes by some of the competitors.
The team ensures the customer has the right information to help them understand the Boost platform, their finances, and all other moving parts in their businesses much better.
Given that the company is spread across 3 countries in Africa, what has been the biggest challenge in contributing to the larger vision?
Our strength is that we’re tapping into a larger network, for co-creation and growth. However, this can turn into a weakness in that there are so many moving parts, and everyone is busy dealing with the ebbs and flows of momentum in their respective markets.
Although we are solving a similar problem and there are some contextual nuances in the different markets, the collective intelligence is quite invaluable in contributing to the overarching vision and scale.
On those hard days when things are not as looking good, which part of your work excites you enough to keep going?
In those times when I feel less energized, I always think of the customer, and how my work would change their lives and those of the people around them. I remember receiving pictures and messages on WhatsApp from a customer explaining how when we started working with them they only had three employees, and in the process of working together they had opened another branch, growing their business up to ten employees. Additionally, my responsibility toward the people I work with is key.
What do you like most about your customers?
They know what they want. There was a time when we were issuing them restaurant-quality products, and they called in to say that the quality is not specific to their market. It’s amazing how they constantly guide us to where they are and what they want from us.
What is great about owner-managed stores in your experience?
The fact that there’s a connection between the business and the person behind it. That personal touch means that they will defend and act in the best interest of the business, which largely impacts how they perform. I remember as kids visiting our grandparents, we would compete as cousins and siblings to go shopping because of how shop owners would give us incentives to buy from them, like sweets. This also displays their ability to make decisions faster.
When a customer is going through a tough time and is not able to make an order from you, how do you ensure they remain above water?
Through regular check-ins by the field team, my connection with almost all customers, and their buying patterns, it is easier to sense when something is wrong and take action.
If the customer is experiencing a rough patch, we have a product dubbed ‘stock-boost’ that helps them use credit facilities to fund their growth.
Founder’s Vision for Boost: Thinking of Boost as a child, where would you like them to be 20 years into your journey of nurturing them?
I think 20 years is a long time in an ever-changing environment, but I see Boost expanding in terms of impact and touching more segments. I see our growth as being on steroids and foresee that this will go on for a very long time.