Wednesday, July 6, 2022

Interview with Alexander D. Powers, Entrepreneur & Founder at Medicam Limited

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1- Hello Alexander, can you please tell us a bit about yourself?
I was born in Virginia USA; my father was senior official in the military and in politics, my mother runs a successful business as a family therapist. When I graduated College I worked at the White House, then after at Department of Defense and spend six months in Iraq with the Coalition provisional Authority. After I got back from Iraq I wanted to start my own business, no more war. I am fortunate to have had wonderful parents and friends who paid for my education in Africa and allowed me to take risks when I chose to venture into African Entrepreneurship at the age of 26. I will not forget them, even investors in the early days where deals went bad. They still are supportive and for that I consider myself fortunate. One day soon they all will be rewarded.

You mentioned before President Paul Biya tapped you to be an Ambassador for investment in Cameroon?
I was honored by the Presidency and Minister of Foreign Affairs by giving me this opportunity. I plan to do all that can be done to help develop this up and coming Republic.

2- What are your business focus areas and why?
Our primary business is in Cameroon, Gabon and Central African Republic, although we have companies in USA and India for technology. In Africa we are invested in Gaming we are the operator for the Loterie Nationale Du Cameroun, we are also invested in media TV, Radio newspapers, and online news sites. Medicam Limited was awarded a large defense contract to supply security and frontier border protection. Medicam is licensed to trade in Diamonds and gold. We acquired assets for real estate and agriculture through a partnership with the Jules Njawe family. We also have a license to bottle and sell some of the purest water on earth sourced from a volcanic aquifer in Beau, Cameroon.

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3- How do you describe “Medicam Limited” in few words?
Medicam was established in 2013 in the Republic of Cameroon. Medicam is made up of a multi-national management team. Medicam group’s primary focus is to be a leader in the development of Cameroon into an Emerging Market prior to 2035 target goals.

4- Where do you think you are making an impact?
We are creating jobs which are the most important part of entrepreneurship. Our NGO Better Future for Change assists the community with funding and services for Cameroonians for education and healthcare. Normally gambling is not considered a social benefiter but our technology allows players to enter small amounts of money and win millions of dollars. If we achieve a steady 2 million players a day we produce more millionaires in one year than Ghana or any other developed African nation produced in 15 years.

5- What are some things that most people don’t know about your job?
I sleep maybe six hours a day, there is always a problem. Management is a difficult position because you are always managing. Jules Njawe and Adriaan Du Plessis are incredible managers. I cannot tell you how many problems they have fixed for the Company. Jules Njawe is the son of Pius Njawe and is a fiery political leader and media magnate. Adriaan Du Plessis is South African, a diamond expert and overall an excellent problem fixer.

6- Cameroon and All Africa is the next business hub, where do you see yourself in the next 5 years?
I would like to be in a position in five years from now to be retired financially spending time with my family. Medicam will still be running with my position being chairman and having highly competent and hard working managers. Africa has the potential to be wealthy, but as a panafricanist Africa’s main problem is the insidious influence by foreign nations their post colonial rulers. The west likes to blame Africa for graft, but in French Africa 14 countries in the XAF currency zone 80% of the countries revenues must go back to France and sit in their treasury. USA and Europe spend Trillions on defense, but if you had properly managed foreign investment of just $50 billion all of Africa would have electricity and running water, maybe more. Africa receives less than 0.01% of all foreign direct investment, when that changes and or African nations unite encourage free trade the continent of one billion and growing will have finally become a dominant world player.

7- What were some of the biggest challenges you encountered while working on “Medicam”?
Finding people who share the same vision, Africa is a poor continent its hard to convince people to look five years down the road when they are hungry today. Different style of business, limited credit, lack of general trust. Lack of proper investment and development.

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8- What can you tell to young people who are pursuing their dreams to have a business?
Be willing to build your business on the side, you will need a steady income so do not quit your day job. Start ups have a lot of setbacks, so be prepared to hunker down and weather the bad days. If you have a vision or a dream go for it never ever quit. Some companies took 20 years before they became a success. Do not let other people put their anxieties on you. Once you have something tangible find investors or strategic partners who can help you take the business to the next level.

9- What are you most excited about at the moment?
I am excited about the future in Cameroun. Traditional lotteries were not designed to produce winners and offer stability for community to grow and develop. Our Lotto system platform bridges that gap using 21st century technology; we make the transfer of wealth easy and highly efficient. Peer to peer mobile money transfer, crowd funding technology mixed with our provably fair generator to selects winners. With fair and efficient user interface players will win often and pay less to play with better odds and cash payout compared to any current lotto system.

10- The last Word or final thoughts?
Cameroon is growing at 5.5% and they only have one two lanes highway, this country will boom when the proper investments are made and they are coming. Cameroon ranked number 4 best investment in African nations. There are over 500 million people in this region.

To know more about Alexander and his company visit:
LinkedIn Profile;
Company Website.

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Noelle Elia
Noelle Elia
is a Financial analyst at PSPC. Graduated from Telfer School of Management, Finance/Accounting with interest to Entrepreneurship and New Media.
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