Construction Sector in Tanzania: The Success Story of Advent Construction Ltd

Dhruv Jog, Managing Director of Advent Construction Ltd, takes us through the journey of the 25-year-old leading Tanzania based construction company.

“Advent is a 25 year old business. It was founded by my father and he still sits on our Board as my Board Chairman. I took over as Managing Director in 2006. So, it has been about 14 years now. The growth potential that Tanzania holds and East Africa holds as a whole for a homegrown construction company is phenomenal. That is definitely a key driver in terms of keeping me here. Also, construction as an industry is one that can grow into multiple different opportunities. Now, for example, from construction, we started doing real estate development, we started doing banking, we started doing a little bit of insurance, we started doing some FMB. It is the sort of industry that gives you access to a lot more. And as a result, in my personal capacity as Managing Director, it makes sense for me to continue to run not only Advent, but the other big companies that come. We have also taken an approach where although the ownership remains within the family, the operations of the company and the day to day execution of tasks is done by a team of professionals. This means that there is a gap between the ownership of the company and the executive function of the company that allows us to call upon talent, and the best talent that is available not only in Tanzania, but across the world, and allows us to expand. We have not brought onboard any private equity or any external sources of capital. It still remains 100% within the family. But we are still able to maintain this sort of growth and expansion because of the professionals that run the businesses for us”, says Dhruv Jog.

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