Economic landscapes are shifting at breakneck speed, but few individuals possess the ability to navigate and redefine the rules of business like Salum Awadh. A Tanzanian investment banker, entrepreneur, and author, Awadh embodies the modern-day changemaker, blending financial acumen with a relentless drive to improve lives.
As the CEO of SSC Capital and the architect of SSC Group, a diversified holding entity, his influence extends across multiple sectors, from investment banking and financial services to agribusiness, logistics, and technology. His journey is a testament to resilience, strategic thinking, and an unwavering belief in long-term value creation.
The Genesis of a Business Titan
Reflecting on his professional journey, Awadh recalls, “I started my professional life about 20 years ago, having worked with the State University of New York (SUNY) and a pension fund then later SSC Capital.” This experience, coupled with a deep-seated passion for business, laid the foundation for what would become a thriving conglomerate.
The trajectory, however, was anything but smooth. “The growth has been transformational over the years, with sweat, success, and a fair share of failures to learn from,” he notes. Yet, these very challenges have fueled his commitment to building a robust and interdependent ecosystem of businesses that prioritize sustainability and innovation.
Building a Business Empire: The SSC Strategy
For Awadh, entrepreneurship is not a sprint but a marathon. Scaling SSC Group required a mix of well-calculated strategies—building a strong team, fostering innovation, and ensuring resourcefulness. He acknowledges the perils of pioneering in uncharted business territories. “As they say, ‘pioneers get the arrows, and settlers get the land.’ The strategy has changed now, with less pioneering and more focus on tested business models.”
One of the cornerstones of his approach is cross-sector interdependence. “We make sure that we have a lot of interdependence among subsidiaries, cross-selling our services to our clients,” he explains. This synergy allows the group to create sustainable value while mitigating risks associated with sectoral fluctuations.
Under Awadh’s leadership, SSC Capital has facilitated projects worth over $300 million, positioning it as a key player in Tanzania’s business landscape. Some of its most significant contributions include:
- GS1 Tanzania: Advising and setting up an institution responsible for issuing barcodes, empowering local producers to scale their sales and exports.
- FUNGUO Programme: Spearheading an initiative that drives innovation by investing in scalable startups and SMEs.
- Tanzania Bureau of Standards Modern Testing Centre: Advising on the construction of a state-of-the-art facility that enhances product quality assurance for businesses.
- Halal Investment Opportunities: Establishing financial models that cater to individuals excluded from interest-based financial markets, thereby broadening economic inclusion.
Innovation and Emerging Trends: The AI Revolution
Awadh is a firm believer in harnessing technology to drive business efficiency. AI is at the core of his strategy, particularly in investment management, logistics, and real estate. “We are working on a few applications on how best AI can enable our offerings and improve our clients’ experiences. One critical area is in our investment app, Shirkah, where we aim to eliminate the human element completely, from portfolio building to investment placement and monitoring,” he explains.
Beyond finance, SSC Group is integrating AI to streamline logistics and digitize real estate transactions, ensuring seamless property assessment, mortgage processing, and payments.
ESG and Sustainable Business Practices
As businesses worldwide embrace Environmental, Social, and Governance (ESG) frameworks, SSC Group is no exception. “We have just finished preparing our in-house ESG policy, which guides us in all our activities by considering environmental sustainability, best governance practices, and optimizing social impact.” This commitment ensures that the firm’s growth aligns with global sustainability standards.
Beyond corporate boardrooms, Awadh plays a critical role in Tanzania’s agricultural sector. As Chairman of the Cereals Board, his priorities are clear: “Providing reliable market access for farmers, addressing productivity challenges, and reducing post-harvest losses while investing in value addition.” He acknowledges the difficulties of working within the rigid structures of the public sector but remains steadfast in his mission. “These are not easy priorities to achieve, but I remain focused and see which ones we can successfully implement.”
Awadh’s vision extends beyond business—he is deeply invested in education as a catalyst for national prosperity. “No country will prosper if its people are not properly educated,” he asserts. His efforts focus on bridging Africa’s skills gap through on-the-job training, tech skills development, and financial literacy programs. “People need new skill sets, new thinking, and new orientation to adapt to rapid technological changes.”
The Future of Entrepreneurship in Africa
One of the biggest myths in entrepreneurship, according to Awadh, is the assumption that a great idea is enough to attract investors. “Investors invest in businesses, not business ideas,” he emphasizes. His advice to budding entrepreneurs is simple: bootstrap first, gain traction, and then seek funding.
Looking ahead, Awadh envisions a transformative decade for Africa’s business landscape. “Africa is on the edge of transformation, provided we get ourselves together—from the right and visionary leadership to seriously investing in our people.” With 60% of the continent’s population being youth, the entrepreneurial sector will be at the heart of job creation.
However, he warns that unlocking this potential requires systemic interventions. “The supply of formal jobs won’t keep up with demand, so entrepreneurship must remain central. This means creating an enabling business environment, closing the $400 billion funding gap, and equipping entrepreneurs with the right skills, coaching, and mentorship.”
Awadh’s journey offers a masterclass in resilience, adaptability, and strategic growth. His unwavering focus on innovation, sustainability, and social impact positions him as one of Africa’s most influential business leaders. Whether through SSC Group’s expansion, his commitment to agriculture, or his advocacy for education, his legacy is one of transformation.
“Entrepreneurship is not for the faint-hearted,” he reflects. “It’s about perseverance, smart strategies, and a long-term vision.” His story serves as both an inspiration and a call to action for Africa’s next generation of business leaders.
