SA’s youngest millionaire at age 23
S andile Shezi is the CEO and founder of Global Forex Institute, a forex trading institution. He became SA’s youngest millionaire at age 23 after risking all his tuition money and trading in foreign exchange. During the cover shoot for this issue, Thriving Magazine spoke to Shezi about his business.
Tell us about Global Forex Institute
It is basically an education provider in the foreign exchange industry that I established after a few years of trading. I picked up that there was a need and gap in the market. People were trading on the Internet without necessarily knowing what they were doing. So I decided to share my knowledge and get experienced people on board to empower young South Africans.
At 25 you are already a millionaire. How long did it take to accumulate your wealth?
Most people consider my age and think it must have been an overnight thing. But I have been doing this since high school in 2009. It’s been seven years in the industry. Starting off in the stock market and moving on to trade in currencies.
You said you were retiring this year?
It’s a slight yes. When I say retire, I mean in terms of not runing the company by end of this year, when I turn 26. I want someone else on board. Someone more educated and smarter to take the company to the next level. I want to focus on what I know and what I am good at behind the scenes.
What have been some of the challenges in running the business?
There have been a number of challenges. One of which has been assistance in terms of the right departments and the right places you should go in terms of getting the company started up. There are many regulations in the industry, for instance the Financial Service Board and other institutions. I wish these institutions could help young people. We literally had to find our own way. Those are some of the challenges I faced. But with time and the right guidance from certain people that were mentoring me, I was able to overcome them.
What advice do you have for people who want to get into forex trading?
Anybody can trade. Anybody can click a button, buy and sell currency. But based on what I have picked up in a couple of years, it is not for everyone. Because not everyone has an appetite for risk. Not everyone can handle and manage that risk accordingly.
Any words of encouragement for ambitious entrepreneurs?
If you are born poor, it’s not your fault, but if you die poor, then it’s definitely your fault. I believe everybody has an opportunity in life. It’s either you don’t see it or you don’t take it seriously. There was a point in my life when I realised I had been a spectator all my life. I was sick and tired of clapping hands for other people. It was about time people started clapping hands for me. I would like to encourage every young and old person to try and move from being a spectator to being a player.
