Question $1$

Read the following case study and answer the following questions:

Rivo Mhlari $$ Rikatec

Rivoningo Mhlari at $13,$ had imagined himself a smart looking Chartered Accountant, who would possibly end up in a

business magazine, just like the one which had inspired him. He was raised in a small coal mining town called Phalaborwa,

Limpopo in South Africa. The $1994$ born Rivo, as popularly known, set out on his entrepreneurial escapades in $2013,$ when

he was at the University of Cape Town $($UCT$),$ specializing in Finance and Accounting under the Business Science option.

He therefore graduated in $2016$ with not only a degr ee$,$ but a company to his credit.

Together with his friend, Jesse Matheri, they set out to create an information management system for vehicles which they

called Rikatec. This system was built to use artificial intelligence, data analytics and machine learning to predict and detect

vehicle wear and tear and possible breakdowns. Their quest was not without challenges. $11$ times, they were rejected when

they presented their ideas to manufacturers and insurance companies, but they did not lose hope. Rivo believed that their

idea was a novelty people were skeptical to embrace because of the attitude of a number of Africans to shy away from

innovation.

Through his experience, he realized that that a number of Africans are risk averse and would rather stick to the known

professions like Medicine, Law, Accounting, teacher, etc. instead of venturing into unchartered waters which have potential.

Even though he has a supportive family, they were quite skeptical about the venture. He however did not relent but raised

money by hosting events and offering consultancy services to small businesses, through a marketing consultancy which he

set up$.$ The money he raised was what he used to fund the first Rikatec prototypes. After much persistence, he finally

received a R$500,000($$$40,000)$ investment to commercially test the product in exchange for $5\%$ equity in the business.

Today, Rikatec is certified by the Independent Communications Authority of SA and is effective in connecting a vehicle to

the nearest help option within five minutes of breakdown detection. In addition, the company provides predictive

maintenance for fleets, monitors driving habits, wear and tear and uses big data and analytics to provide valuable

information that can help reduce operational costs, and has a unique selling strategy of having the ability to work with any

car manufactured since $1996.$According to co$-$founder Jesse Matheri, it also improves prediction of vehicle longevity,

provides assistance in determining insurance and warranty premiums and can assist in enhancing the resale value of motor

vehicles.

Rivo has a lot of confidence in the security of his products as his team does in him. He is said to create an inclusive

environment for his team and is receptive to suggestions. He likens the impact he wants to make to that of what Uber has

done. It is not surprising that at $24,$ he was one of the youngest technology executives in South Africa, and one of the

youngest entrepreneurs to feature on the Forbes $30$ Under $30$: $2018$ technology list. His believe is that economic progress

will come when Africans learn to spread their wings and fly into the world of opportunity.

Question $1(25$ Marks$)$

In relation to the case study, provide a definition of the entrepreneurial role best suited for Rivo. Furthermore, identify and

discuss at least five $(5)$ entrepreneurial characteristics displayed by Rivo. Provide in$-$text source referencing