Kofi Dadzie could not have envisaged that his exit from Rancard Solutions would be virtual.
But which is exactly what it was. Just after 19 many years as CEO, Dadzie’s last goodbye came at the end of a digital meeting where he passed the baton to Ernest Osei-Owusu, the Normal Manager. It was the remaining move of his succession strategy.
Dadzie and his co-founder set up Rancard in April 2001, barely a thirty day period immediately after Dadzie returned to Ghana from the US. Their eyesight was to build a world-class software corporation, solving international challenges at scale, out of Africa, and major the way for African excellence. Buddies and loved ones who shared in that vision supplied the ‘patient’ fairness funds they expected.
Dadzie was encouraged by the dotcom era he’d witnessed, as a student at Vanderbilt College and as a software package engineer at Dell Company, when young laptop-savvy business owners rode on the quickly expansion of the online to become overnight millionaires.
At the digital final assembly, the Rancard team paid tribute to Dadzie for his outstanding leadership. They each and every recounted scenarios the place Dadzie experienced personally influenced them with his travel, encouragement and assistance, and observed with deep appreciation his sacrifices and authentic commitment to their welfare.
It will have to have been an psychological time for Dadzie as he logged off Zoom in his home review, and reflected on the final two decades. In addition to remaining tearful, Dadzie ought to have been emotion nervous (about an remarkable although uncertain upcoming), elated (about his bravery to transfer on), proud (about how considerably he’d introduced Rancard) and grateful (to God and his loved ones for appreciate and assistance, particularly throughout the challenging decades).
He need to also have been feeling self-confident. Self-confident that Rancard would remain a globe-course model fixing world complications at scale, out of Africa. Many thanks to a blend of the calibre of the staff and the hours Dadzie individually invested in both of those complex and personalized growth, he is in no question that he has still left the child he’d co-conceived, nurtured and designed in terrific hands.
Dadzie steered Rancard from the brink of insolvency, just after it had run out of capital two decades into the small business. He’s scaled up, scaled down and then scaled up once more, every single time efficiently major Rancard by the, in some cases fraught, restructuring and resizing process. Dadzie has often reinvented himself and the enterprise, and built Rancard even extra appropriate to its amazing consumer base (in in excess of 25 nations around the world, which include the likes of Google and Intel).
Dadzie has attracted tricky-to-get non-public equity from Peninsula Money (which also invested in the Chinese world-wide-web phenomenon Baidu), Intel Money (the strategic arm of Intel Corporation) and Adlevo Money (the technological innovation-targeted African private fairness business).
More importantly, he leaves a formidable world-wide track record dependent on a lifestyle of innovation and a contempt for complacency and mediocrity, as nicely as a network of mentees workers and alumni who work around the world in world wide brand names like Microsoft and Amazon.
The icing on the cake: Rancard was lately awarded a US engineering patent in an emerging field that brings together graph know-how with artificial intelligence to develop options that outperform latest techniques.
In foremost and exiting Rancard, Dadzie has led the way for African excellence, displaying behaviours atypical of most African business people. Amongst other folks:
- Dadzie was normally apparent that Rancard was in no way about him. It was simply the vehicle to create solutions to include worth to the enterprise of consumers.
- He constructed multi-layered and reinforcing programs and structures that will keep on to be certain that Rancard carries on to continue to be a drive to be reckoned with.
- He understood that possessing 100% of nothing at all is a grand zero. He co-launched the organization with a buddy, and has opened up the fairness (and therefore the rewards): His stake at start off-up has diluted four-fold owning introduced on private equity, as well as workers by way of share option strategies.
- He has normally ‘focused on the knitting’. The main of Rancard businesses has usually been software improvement and giving shoppers with alternatives primarily based on insights. He has refrained from empire setting up hurrying to spend in unrelated sectors that may have taken absent his concentrate from the main enterprise.
- He has led with deep humility and by instance normally ‘walking the talk’.
- In parallel with setting up Rancard, Dadzie invested in himself and his particular enhancement, paying plenty of hours on soul seeking and introspection, iterative analysis, significant self-analysis, study course correction and candid discussions which contributed to making him the chief he has become.
Through these types of soul exploring and evaluation, a several many years back, Dadzie made a decision to set a time frame to his exit, and to strategy in the direction of a profitable changeover. It was at this time he sought me out, to bounce strategies off me, and we finished up obtaining several pleasant conversations. A couple of of these lasted various hrs, as in our shorts and trainers, we perambulated the sidewalks of East Legon, the suburb in Accra exactly where Dadzie lived with his spouse, Afua, and children.
After in search of and obtaining the blessing of his board, he centered on strengthening the techniques, capability and ability of his staff, bringing in new hires exactly where he felt required. He relinquished the CEO job, becoming Executive Vice-Chairman with more function of VP with extra oversight of product administration, which took him to his engineering roots, coming up with software package, architecting and coding of the items.
Constance Chuks stated ‘Let the ovation be louder when you leave the phase than when you climbed it” I, alongside with the company local community, give a standing, even if digital, ovation to Kofi Dadzie.
Dadzie is not, as nevertheless, certain which other levels he may possibly light-weight up. But were he to permit himself a exceptional and uncharacteristic second of immodesty, he’d have to concur that the ovation that will accompany his exit from the subsequent phase would be even a lot more rambunctious. And it’s not likely to be just virtual.