South African ‘Dragon’ Lebo Gunguluza has overcome numerous obstacles and setbacks to build a multimillion-rand media empire.
Media mogul and ‘Dragon’ Lebo Gunguluza is known for his business acumen and entrepreneurial zest— but his journey to the Dragon’s Den and a multi-million rand media enterprise was littered with hurdles and many setbacks.
He went to a rural school called Thubalethu, where there were many boycotts against the apartheid system’s Bantu Education.Because of this, Gunguluza’s mother took the last bit of money saved for university education to move him and his siblings to a private school called Woodridge College. He was at Woodridge College from Grade 9 up until he finished his matric at the age of 20.
Inspired by his parents’ dedication to furthering education, Gunguluza was determined to obtain a university degree, having met the minimum requirements, despite not having the funds or a bursary to cover his fees. He approached Edgars, offering to open accounts for them for students at the university. They gave him one month, and the number of accounts that Gunguluza was able to open far exceeded their expectations.
This, coupled with the fact that he was 26 and had not met his goal of becoming a millionaire by 25, led him to resign from his position to “get back into focus.”Fueled by the desire to build a business that would earn him enough to take care of his family and achieve his first big goal, he started Gunguluza Entertainment.
In 1997, he anticipated the launch of the youth radio station YFM and secured R500,000 in airtime, organising a R4 million launch event featuring Kwaito stars. Gunguluza recovered by acquiring Primi Piatti, a successful restaurant that restored his financial stability and reputation. However, when they separated, it eventually went to his ex-wife.
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