Category: Small Business and Entreprenuership

A fintech firm Payslice Technology Limited has introduced its product into the market to provide employers and employees easier access to banking services.

Its Chief Executive Officer, Mr. Kelechi Oleka, said after 14 months in the market, the app has been tested and proven to be full proof and that their objective is to assist their target group with cash flows to enable their businesses thrive and specifically, workers who might need cash before the month ends. From research, he said, most firms fail when the owners could not raise enough cash to meet their immediate or short term needs of salary payment, consumables, among others.

 Oleka expressed optimism that with the product’s inbuilt insurance cover, its failure rate is low.  So far, he said, the firm has executed over $1million transactions, explaining that this did not mean profits.

 He noted that the firm is unique in terms of its technology, speed, consistency and accountability. Another unique feature is: “We charge only ‘transactional fee’ unlike banks and PoS operators,” he added.

 The firm’s first major funder, Sam Ajiboyede, said the company does not give loans or is interested in it doing so. ‘’We try to enhance products,’’ he said. He said Payslice does partnership with its customers to enable the firm to empower them.

 A customer/founder, DeliveaNG Logistics, Mr Obasanjo Fajemirokun, who attested to the product’s reliability, said when his firm had cashflow problems, he ran to Payslice and it helped him. “So far, so good. We have enjoyed their services.We have been impressed,” he said.

Another customer, Damilara Adeogun, who founded Schrow Technologies Limited, said: ‘I have used the product for six months. Payslice is fast and reliable.” He attested to its dignity in lending to people who are cash strapped.

Lagos State Domestic and Sexual Violence Agency ((DSVA), in collaboration SME 100 Africa, has been empowering survivors with skills for entrepreneurship. DANIEL ESSIET reports.

Unemployment has become a problem, leading to high domestic violence.

 The negative impact is that more women endure financial problems due to their inability to contribute to family survival.

  But the Executive Secretary, Lagos State Domestic and Sexual Violence Agency ((DSVA), Mrs Titlola Vivour-Adeniyi, says there is a solution.  One  way  to  assist victims of domestic and sexual violence, she explained, is to help them to acquire skillls and earn a living through entrepreneurship.

To this end, DSVA has partnered SME 100 Africa, to support domestic violence survivors. Through this collaboration, the agency hopes to empower victims of domestic violence by supporting them in pursuing entrepreneurship.

Rcently, the agency got a  grant from  the state government to provide domestic violence survivors with the entrepreneurship tools to start afresh.

Through the project, Mrs Vivour-Adeniyi said the state government has been providing skill training to enable victims deal with distress, or cope with violence in the family or community. 

She  said the government is creating a system for skill development during their rehabilitation, by empowering survivors to become financially independent.

She continued that  women  affected by domestic violence were often in a vulnerable position, having lost their means of livelihood, thus putting their lives in jeopardy.

She explained that DSVA’s Business Grant Programme provides information, resources and support for survivors, enabling them to advance their businesses to the next stage of profitability and success.

 She noted that domestic violence survivors have an opportunity to realise their dreams.

According to her, the agency is determined to provide special skills training for women to empower them and expand their opportunities for social and economic development.

Speaking during the maiden graduation of the Business Grant Programme, organised by the DSVA, Permanent Secretary, Lagos State Ministry of Justice, Mrs Titilayo Shitta-Bey said through the Director, Citizens Rights Directorate, in the Ministry of Justice, Adetutu Oshinusi: ” I am aware that in 2022, among other achievements of the Lagos State Government, the DSVA was able to empower a total of 148 survivors, 104 survivors accessed assistance  under the Business Grant Programme, while  the remaining 44 accessed funds for  securing  accommodation and educational support.

She added: “It is my joy to mention that graduates applied for the Business Grant, and the beneficiaries were taken through a four-week intensive training in the basic rudiments of business which was facilitated free by SME 100 Africa.

“I have no doubt that the beneficiaries will motivate the efforts of DSVA and its partners in tackling the incidents of sexual and gender based violence in Lagos State. There is no gainsaying on the fact that many enterprises require funds but the funds must be administered profitably and judiciously which will be the only way to ensure continuity of the initiative.

The agency’s Head of Empowerment/Projects, Ayomipo Adesiyun, said the  DSVA offers services to women in aid of their healing and recovery.

  Beneficiaries expressed their gratitude to DSVA for the livelihood skills training they learned to have better business opportunities that could provide additional income for them and their families.

One of them, Mrs Favour Ozuchukwu  said the  new skill taught to them would help them to start a business.

Chefs are among the top most sought-after across the world. This follows an explosion in vacancies in hotels and restaurants for them. DANIEL ESSIET reports.

THE love of food drew the Vice-President, Culinary Arts Practitioners Association of Nigeria, Gbolabo Adebakin, to the sector.

A graduate of Zoology, University of Lagos, Adebakin (alias Chef Gbbs) is a nationally acclaimed chef. He feels so happy about it. He is the General Manager, Sabor, a Casual Dining Restaurant, Victoria Island, Lagos.

He has worked as an executive chef and manager who secures work, including catering jobs. He’s an inspiration to a lot of people. He is also the Vice President of Feed the Kids Initiative.

He told The Nation that there are international opportunities for male chefs, who are offered salaries ranging from $2000 to $5000 monthly. In addition, the hiring firm provides round-trip airfares.

Most of the jobs are contract based, but renewable. Accommodation included furniture and transportation to the workplace will be borne by the hiring company., which will also pay the cost of first aid.

Apart from this, the airfare to join the job and the airfare to return to the country after the job will be paid for by the hiring company. Other terms of employment will apply in accordance with national labour laws. He told The Nation that a certified chef has no limit to where he could work.

He has been able to demonstrate the most sought-after employability skills, including communication, customer service, and problem solving and working as part of a team.

According to him, young men aspiring to be chefs have opportunities in the hospitality industry. For global chefs, applicants are expected to have work experience in a four-star hotel as well as pass the English Language Proficiency Test (IELTS).

Some chefs start as kitchen hands and dishwashers until they get culinary certifications and experience.

From kitchen hands, they work their way to becoming chefs. As kitchen hands, they will be responsible for arranging cutlery and labels, and setting up the buffet. After in-house training, a few of them become pastry chefs and begin to cook professionally.

Chief Executive, Sirocco Productions Limited, Deji Shobowale has, based on his works, become one of Lagos’ most well-known food events entrepreneurs. DANIEL ESSIET reports.

LAGOS is home to some of the most successful entrepreneurs in Nigeria. One of them is the Chief Executive, Sirocco Productions Limited, Deji Shobowale.

 His expertise comes from his experience in event management projects. From renting to building brands to keeping up with the latest trends and news to event planning, he has done it splendidly.

He told his story: “Sirocco Productions Limited was founded in 2015 with a vision to create and design events of international standards. I have always loved to plan events from my university days – from family functions to events with friends.

  “I also worked with a good boss and mentor, Dr Tunji Olugbodi, for 12 years, under whom I honed my skills and learnt the professional way of eventing and impeccable attention to detail.”

 He has proven that there’s no harm in going after one’s passion. For him, that was event management.

With the company on the road to reaching a top league player status, Shobowale exemplifies what a hands-on approach and innovative spirit can achieve.

Despite the many challenges that had come with starting a business,  he managed to transform an idea into a full-fledged business. This proves the point that you have to give any idea a trial – he is proof that anything could happen. 

The journey, however, has not been rosy. He recalled: “My journey has been exciting and enlightening so far. As an entrepreneur, you must be ready to roll up your sleeves and work hard to achieve your goals. Rise up to challenges and continue to find innovative ways to create solutions. We, however, cannot overlook the fact that entrepreneurs find it difficult to scale their businesses due to certain factors- accessibility to grants, loans, high interest rates etc,” he added.

He also said what had made him successful are patience and tolerance. His words: “You must have integrity. You must be creative with fresh ideas to compete in the event space.”

What has made him stand out has been the yearly Lagos food festival which he organises in partnership with the Lagos State government. He explained how it all began.

“! was invited to pitch for the event many years ago by Lagos State Ministry of Agriculture. For over five years, I have handled the event with a good team and the leadership of the Commissioner of the Lagos State Ministry of Agriculture, Ms Abisola Olusanya.”

For him, there is no formula to becoming successful. However, he stressed that the key factors are having integrity and being innovative and creative.

He said: “Always create solutions to problems – you’ll never go out of business.” The biggest hurdle he had to overcome was finding human capital resources in the event space. The Industry evolved since he started. He exclaimed: “Very competitive now. We have very creative minds. It is about individuals thinking outside the box and constantly evolving.”

To him, success is relative. “However, for me, it’s continuous growth, meeting and surpassing set targets, revenue generation and meeting international standards of best practice.”

How does he manage failure? “By understanding the reason for the failure, creating solutions and improving processes to prevent repetition. How is he coping with pressure? His response: “Rest, travel and spend time with my loved ones.”

What is the best piece of advice he has received in the past year? “Keep innovating and always be open to feedback and ideas. We plan to expand to other states  and later other territories outside the country.”

For aspiring entrepreneurs in the event industry, he advised: “Keep pushing and have faith in yourself.”

Cassava farming has become big commercial business. There are opportunities for the roots to be processed into various products, including cassava flour, starch, and ethanol and glucose syrup. DANIEL ESSIET reports.

Chief Executive, Hastom, Debo Thomas, is the owner of a thriving cashew business in Oyo State. His accomplishment is a true success story of its own.

Hastom has grown from a farming venture to a leader in the agriculture sector to becoming a provider of farm set up management services.

Known in his community as a successful farmer, he has employed a lot of people apart from earning a livelihood for his family. His brilliant performance has turned him into a source of inspiration for many. He makes money cultivating cashews.

However, he has made cassava transformation the core of his current business model.  

  Thomas noted that the global demand for cassava is expected to increase by 50 per cent in the new year, making it a lucrative agro-commodity. Also, that global demand for cassava products such as flour, starch, ethanol, chips and pellets now runs into several billions of dollars in transaction value with China leading the demand pack.

 Other markets for cassava products, he mentioned, include the United States, Netherland, Spain, France, and Canada, among others.

Buoyed by this, he has mounted a campaign to get more Nigerians to produce more cassava for industrial purposes.

He said his organisation has made available 500 acres of fertile farmland that will be given to individuals who are looking to get into cassava farming.

At the company’s Adebayo Alata Ind. Layout agro entrepreneurs are introduced to a lease package which features farm set up and management services.

Partners in the project, he explained, would acquire a lease package, for a period of 11 to 16 months only.

He added: “While Hastom handles the property lease, set up, management and overseeing of harvest and sales on behalf of our partner, the partner’s funds will only finance the set-up and management of their cassava farm.

 “Between 11 – 16 months after cultivation, the cassava tubers would be harvested and sold off to our offtakers at the prevailing market price.”

Every investor is expected to invest in at least 10 acres. The total set up cost, including security fees, is N1,189,000 for 10 acres. 

 After harvest, Thomas projects return on investment to be N3million annually. He maintained, however, that the projections are based on their experience and past performances, adding, “It may not be 100 per cent accurate for the future. There might be differences between the forecasted and actual results, because events and circumstances frequently might not occur as expected, as they are dependent in large part upon factors over which the company has no control.”

He further explained: “Harvest would be between 11 to 16 months after cultivation, depending on the maturity of the cassava, prevailing market price, among other factors.”

  Thomas said his organisation manages 10,000 acres of cashew farmlands for clients, offering absentee farmer partnerships along the way

United States-based organisation, Heifer, is working on lifting no fewer than 10 million smallhold farmers globally out of poverty. DANIEL ESSIET reports.

DURING a recent visit to Heifer International’s operations in Africa, Heifer’s new President and Chief Executive, Surita Sandosham, reaffirmed the  organisation’s commitment to elevate 10 million smallholder farming households globally out of poverty and into economic self-reliance by 2030, in line with the United Nation’s Sustainable Development Goals (SDGs).

Sandosham visited Africa as the first stop on a global tour of the non-profit development organisation’s operations, which will also include visits to regional teams in Asia and the Americas.

She met the Africa team members at the regional headquarters in Lagos, which gave her an opportunity to share her vision and her excitement for the work Heifer Africa is doing in the region.

While visiting the country, she met with some of Heifer’s young agritech innovation partners and other key stakeholders in Nigeria, reaffirming Heifer’s commitment to work with youths and innovate to transform Africa’s food systems, as well as working alongside smallholder farmers, producers, cooperatives and others to ensure sustainable agricultural interventions.

Addressing stakeholders, Sandosham said: “Heifer believes that smallholder farmers hold the key to transforming Africa’s food insecurity. With food importation across Africa averaging over S43 billion yearly, we believe that access to finance, access to innovation, access to infrastructure and access to training, can increase food production and strengthen local food systems, reducing vulnerability to climate shocks and long-term dependency on imports.”

Sandosham also visited Heifer’s country operations in Rwanda, where she met with the country’s Minister of Agriculture and Animal Resources ((MINAGRI), Dr. Geraldine Mukeshimana, partners, and others to discuss the progress of Heifer Rwandan projects and explore areas of collaborations.

Speaking on the CEO’s visit to the region, Heifer International Senior Vice President for Africa Programmes Adesuwa Ifedi, said: “Having the CEO visit the region and meet our partners and key stakeholders, was critical to restating our position that for Africa’s food systems to thrive, the combination of interventions and partnerships at all levels is needed. Our strategic goal as a region over the next eight years is to assist more than six million farmers to reach a sustainable living income by 2030, through strategic private and public sector partnerships to reach transformational scale. We remain unwavering in our mission and work to build resilience in agriculture because it remains a critical sector for Africa’s food security, workforce and economy to flourish.”

Nigeria gave her an opportunity to share her vision for the work Heifer Africa is doing in the region. While visiting the country, she met with some of Heifer’s young agritech innovation partners and other key stakeholders in Nigeria, reaffirming Heifer’s commitment to work with youth and innovate to transform Africa’s food systems, as well as working alongside smallholder farmers, producers, cooperatives and others to ensure sustainable agricultural interventions.

Sandosham added: “Heifer believes that smallholder farmers hold the key to transforming Africa’s food insecurity. With food importation across Africa averaging over N43 billion annually, we believe that access to finance, access to innovation, access to infrastructure and access to training, can increase food production and strengthen local food systems, reducing vulnerability to climate shocks and long-term dependency on imports”.

As part of her trip to the continent, Sandosham also visited Heifer’s country operations in Rwanda. She met with the Rwandan minister of Agriculture and Animal Resources ((MINAGRI), Dr. Geraldine Mukeshimana, development partners, and other key stakeholders to discuss the progress of Heifer Rwanda partner projects and explore other potential collaborations in the country.

An entrepreneur, Michael Okoh, has an outfit that provides training and guidance for small and medium enterprises (SMEs) owners to transform their goals into a prosperous and rewarding entrepreneurship, writes DANIEL ESSIET.

Lagos-based entrepreneur, Michael Okoh, trains and empowers small business owners.

A visionary, he is giving new meaning to entrepreneurship education. He believes that training is essential to any business survival.

Okoh has 18 years’ experience, which spans agriculture, business administration, marketing and data analysis.

He registered his training firm 12 years ago and has been pushing into new markets where he sees growth potential.

Despite this, he is looking to groom startups and small business owners. The experience has helped him build a community of business professionals in entrepreneurship.

The trainer/consultant listed some pains faced by SMEs as government insensitivity, multiple taxation, non-availability of basic amenities to aid starters, non-tax holidays for new entrants, lack of training and credit to support growth.

On his work, he said: “I provide basic advisory in terms of business models, business plan, marketing channels and pricing, establishment of appropriate cash/inventory management and appropriate audit trail and follow up. We also help create a proper working structure and strategy direction.

“The success rate has been quite high but most MSMEs are not patient enough and this could be mitigated by government providing support to them in terms of tax breaks, infrastructure and training.

“I believe that the government can do more with the provision of enabling environment, infrastructures, tax breaks/holiday for new businesses and start-ups, provision of extension/training services to encourage these businesses, among others.”