Kiro’o Games, the young Cameroonian company that has launched into the production of a video game from a local studio, has announced the closing of its investment capital to 182,504 euros (120 million CFA francs) ), two years after its launch. “The project has generated enough guarantees and global visibility. This was felt by a “dynamite” effect by generating more concretizations than subscriptions “, confided to the agency Ecofin, Olivier Madiba, the young managing director of the company, visibly satisfied.
The sum may seem small, but in the business creation environment, it is almost a pioneer success. Kiro’o Games is already the first game production studio installed in French-speaking Africa, it is also one of the very first very small company to have explored the avenues of venture capital to mobilize financing for its expansion.
According to financial data released by the company, the mobilization of these resources followed three main stages. A first known as “burst fire”, which consisted in opening the capital to everyone. In the second year in 2014, it was now a question of “precision shots”, with the effect of little subscription for almost 98% of achievement in the beginning of 2015, the project experienced a “snowball” effect , which was characterized much more quickly by a large number of concretizations.
“Looking at the curve of the cumulative sum raised in Table 2, we can easily notice two gross slopes between September 2013 and January 2014 on the one hand, and between January 2015 and April 2015. These slopes reflect an acceleration in sales of the unit and the periods concerned correspond respectively to the publications in the newspaper Le Monde and the opening of the Studio on the one hand, and on the other hand to the report on France 24 and the release of the demo “, we are told at Kiro’s ‘o Games.
The results of the statistical analysis show that the most sensitive age groups are 26 to 30 and 31 to 35, who together hold 60% of the capital open to investors. However, the comparison with the figures from 2013 to 2014 demonstrates two things: The 26 to 30 year olds were the most reactive, that is to say the most apt to take risks as soon as they made contact. The 30 to 31 year olds took a step back, but once decided, invested more than their 26 to 30 year old counterparts
Men with 79% participation far outweigh the majority over the duration of the project. “However, one can notice by comparing the years that women were quicker to take the risk than men at the beginning, even if they gradually lost ground over time,” said Mr. Madiba on this specific point .
Another lesson that emerges from the tables of the company is that the project has caught a majority of Cameroonians, who dominate the shareholding, with 74% of stakes. People of French nationality are the second largest shareholder with a 20% stake. We then find Togolese, Congolese, Germans and Beninese. However, the bulk of Cameroonians who have invested in the project live abroad.
The company is now oriented towards the optimization of its capital, in order to keep the promises and commitments made to its investors. “I like to say that we started from far away and today we are living an adventure like no other. Nobody really believed it except us and today we have the confidence of several people, I can only be confident and with our teams we are committed to keeping our promises in terms of profitability, “said Olivier Madiba.
Source: ecofin agency