Former Indomitable Lions captain Samuel Eto'o recently discussed the failure of his mobile phone company, Set Mobile, launched in Douala in 2012. During an interview with young Cameroonians via Digitalbagency, he shared details of this unfortunate investment.
Eto'o revealed that he personally invested four billion FCFA in Set Mobile. The goal was to create a local alternative in a market dominated by international telecommunications giants. He had recruited Cameroonians he considered bright and competent, but the company failed to establish itself in the long term. According to Eto'o, internal malfunctions and poor management led to Set Mobile's demise a few years after its launch.
"I launched Set Mobile with my own money, with my own funds. I invested 4 billion FCFA from my own pocket from the start. I made the choice to recruit brilliant, trained, competent Cameroonians. I trusted them, but some didn't see me as an investor, they saw a bank and thought, we're going to plunder this bank," he said.
Set Mobile is not the only entrepreneurial project of Samuel Eto'o to have encountered difficulties. In 2019, he launched betoo.com, a sports betting site presented as 100% Cameroonian. This initiative also did not achieve the expected success. Despite these setbacks, Eto'o has also successfully diversified his activities into real estate, hospitality, and partnerships with technology companies. He also created the Samuel Eto'o Foundation, which focuses on education and health in Africa.
These experiences highlight the challenges associated with private initiatives in highly competitive sectors. They also demonstrate Samuel Eto'o's desire to diversify his activities beyond football, with mixed results.
