Category: Small Business and Entreprenuership

  • A young farmer’s road to success

    A young farmer’s road to success

    His first stint as an agri-entrepreneur was in poultry. Innocent Mokidi, Chief Executive, Brote Urban Farm’s instant success in poultry encouraged him to diversify into vegetable farming. Today, the Abuja-based farmer is the proud owner of a flourishing agricbusiness worth N6 million. DANIEL ESSIET reports.

    He never envisaged he would become a successful agri-entrepreneur. But as providence would have it, a risk taken saw Innocent Mokidi, the Chief Executive of Brote Urban Farm, dumping paid employment for farming. The Abuja-based young entrepreneur is today the proud owner of a flourishing agro-business with  a strong presence in poultry and vegetable farming.

    Mokidi, an Accounting graduate from Edo State, started out in 2013 as a poultry keeper with 1,000 birds. Today, three years down the line, he is a proud owner of 5000 layers birds. In and around Abuja, the Federal Capital Territory, where he resides, he is one of the most sought-after poultry farmers. The instant success that accompanied his poultry business has made him a reference point in commercial farming particularly for youths.

    However, Mokidi’s success did not come without hard work, strategic planning and implementation. He ensured a proper care for the chicken. For instance, he was  meticulous in the purchase of feeds and drugs for the birds. He also obtained them from accredited dealers to guarantee quality. He also ensured warding off of possible outbreak of diseases that could wipe out his farm.

    Mokidi’s painstaking handling of the business, which resulted in his huge and instant success, must have encouraged him to diversify into vegetable farming. The move, The Nation learnt, was aimed at tapping into the growing market for organic foods. According to him, food stores across the country are struggling to meet the growing demand for organic vegetables, an opportunity he said, he was determined to take advantage of the boom in consumer demand, driven largely by health-consciousness. Again, like the poultry business, it was a success.

    The Nation learnt that consumers’ health-consciousness in favour of organic foods has been on the increase hence, the growing domestic demand for vegetables for use in making salads and other foods. Mokidi was one of those who saw the opportunity consequently increased his capacity in organic production to meet the rising demand.

    According to nutrition experts, organic produce tastes better than produce from chemical farming. Organic foods also stay fresh longer, and make better cooking. Some of Mokidi’s findings from his  research on profitable organic farming enabled him to identify organic vegetables with higher projected yields. Today, the budding agri- entrepreneur is cultivating half of an acre of pumpkin, one acre of tomatoes using drip irrigation, half of an acre for greenhouse tomatoes and the other half for organic vegetables.

    His strategy specialises in fast-maturing crops that take an average of three months to be ready—with returns high upon harvesting. He grows vegetables such as beans, tomato, radish and other green leafy vegetables. He has all the needed knowledge and skill, which included enrichment of fertiliser and pest management. He has better farming skills in post-harvest management, marketing, business planning, compost making and saving.

    His Brote Urban Vegetables Farm has also established a nursery and vegetable farm in Abuja, he plans to grow more vegetable farms in the future. This is in the hope of further taking advantage of the huge opportunity that exists for growers in the near future. Mokidi is also building low cost greenhouses to ensure that vegetables are grown in environmentally friendly greenhouses.

    Another strategy that worked for him was perhaps, his eagerness to learn and understand quickly. His hard work has become an inspiration for young people who wish to venture into farming to beat poverty and create jobs.  The same hard work, it was gathered, made him to learn how to construct green house, using locally fabricated materials.

    The success of farmers such as Mokidi has inspired young people to reconsider farming as a solution to poverty. Having single-handedly nurtured the business into a N6 million enterprise, his advice to young entrepreneurs is that they should not give up on their dreams and should always be ready to learn and try new ways of doing things.

    “That you fail today does not mean you are not good; it only brings you closer to your goals,” he said. That is food for thought for Nigerian youths, particularly those wishing to make a career in farming.

  • Senator seeks data base for unemployed youths

    Senator seeks data base for unemployed youths

    Chairman Senate Committee on Land Transport, Senator Olugbenga Ashafa, has identified lack of data base for unemployed youths as one of the factors mitigating effective job creation initiatives.

    Speaking as a special guest during the Ministry of Wealth Creation and Employment’s Stakeholders/Interactive Forum at Ikorodu Local Govermment Area of Lagos State, he said the database would provide a steady feed for participants in the programme and enable the government to plan for its future and those of the youths.

    Ashafa expressed satisfaction that the Lagos State, through the ministry is building a database of unemployed youths in the state through the job and wealth creation scheme, which promises to keep them off the streets.

    While noting the obstacles young people face in becoming entrepreneurs, he commended the move by Governor Akinwumi Ambode to implement a functional wealth creation and entrepreneurship, adding that it will help solve youth unemployment.

    Ashafa said he was supporting an entrepreneurship scheme that has led to the generation of many micro and small enterprises. According to him, it is the best way to tackle unemployment and create wealth.

    Commissioner for Wealth Creation and Employment, Hon. Babatunde Durosinmi-Etti, said fighting unemployment was  adopted by the ministry to support small business development initiatives.

    The ministry, he said, is set to establish a job registration centre in Ikorodu, reiterating that the ministry has launched a functional entrepreneurship programme aimed at up-skilling individuals to start and grow their businesses. Candidates for the programme, he added, would have been selected from the databases provided by the job registration centres and the various agencies.

    The ministry’s programme, according to the Commissioner, is to explore the business opportunities presented in various zones of the state and work with government and the private sector to ensure that unemployed graduates receive entrepreneurship development training and mentorship.

    Durosinmi-Etti stressed that entrepreneurship is an important vehicle for job creation. The ministry, he noted, is empowering entrepreneurs and aspiring ones with the requisite skills and knowledge to venture into businesses.

    The Commissioner noted that there are entrepreneurship opportunities for youths, urging them to harness the full entrepreneurial potential of the area.

    Hon. Jimi Benson, who represents Ikorodu Federal Constituency at the House of Representatives, reiterated his determination to work with the government to address the challenges of unemployment and bring development projects to his community.

    He said he was working to ensure that his constituency is well positioned to benefit from the wealth creation initiatives of the All Progressives Congress (APC) government in the state.

    The Executive Secretary, Ikorodu Local Government, Hon Wasiu Adesina, said the council was ready to support job creation in small and medium enterprises (SMEs) to eradicate poverty and achieve sustainable industrial development on the continent.

    While pointing out that youth unemployment jeopardises the nation’s efforts to eradicate poverty, he stressed the need to invest in training and education of youths to industrialise, grow the private sector and achieve sustainable development.

    The Permanent Secretary, Ministry of Wealth Creation and Employment, Mr Fola Padonu reaffirmed  the commitment of the ministry  to enhance the  SME sector and stimulate economic opportunities for youths to promote the state’s progress towards economically enriched, socially inclusive and prosperous economy.

  • Abuja hosts social entrepreneurship conference

    Abuja, the nation’s capital, is hosting a major social entrepreneurship conference next week. The conference slated for between March 15 and 17,  is designed to promote positive entrepreneurship as vehicle for positive social impact and innovation.

    The conference, which is themed: ‘Social Enterprise–Impact, Innovation and Sustainability’, will take place at the Abuja Enterprise Agency (AEA) Entrepreneurial Complex. The pro-gramme is organised by APLUS Trainers, a training and business consulting firm with a mission to support entrepreneurship development and small businesses in Nigeria.

    According to Executive Director, APLUS Trainers, Mrs. Titi Ojo, the  target audience are young people with ideas for social innovation, business startups, already existing businesses, executives running social businesses or non-governmental organisations (NGOs) seeking to reshape or grow interest in corporate social respon-sibility projects and need ideas.

    In addition, the forum is meant for individuals, who wish to explore a new career in social entrepreneurship, policy makers in every sector of the economy, government or philanthropic organi-sations that might be looking to invest in or buy from social enterprise.

  • How agri-business incubators can boost agric, create jobs

    How agri-business incubators can boost agric, create jobs

    Venturing into commercial farming is tasking particularly for young farmers. They are faced with inadequate infrastructure, lack of start-up capital, capacity building and mentoring services, among others. Experts however, say that establishing agri-business incubators is a viable mechanism for creating an environment where youth-led start-ups can be nurtured and allowed to flourish. They note that by giving impetus to promotion of youth-driven agri-business entrepreneurship, agri-business incubators would boost agriculture and create jobs. DANIEL ESSIET writes

    With agriculture as one of the major planks of Federal Government’s current strategic re-focusing on the non-oil sector to diversify the economy, focus appears to be shifting to Nigerian youths. The generational shift in favour of youths is understandable. For one, Nigeria’s farm labour is ageing, requiring young and vibrant farmers to help exploit the nation’s largely unexploited agricultural potentials. Besides, with the current challenges of boosting food security, stakeholders in the agric sector are of the view that there is need to engage many youths  in agricultural production, including farming, seed supply, agri-chemicals, farm machinery, wholesale and distribution, processing, marketing and retail.

    However, with many young agro entrepreneurs already showing keen interest in agri-business, most of them are still faced with the challenges that come with starting off new agro ventures such as inadequate infrastructure, capital and technical knowhow. To turn the tide and unleash the immense potential in agri-business, which is believed to have the capacity to take as many youths as possible off the unemployment market, experts and stakeholders in the agric sector are canvassing the promotion of agri-business incubation centres. The thinking is that agri-business incubation is a viable strategy to transform the agric sector by smoothening the way for new, young farmers’ entrants.

    If Nigeria embraces the strategy, it would only be borrowing a leaf from countries across the globe where it is believed to have worked wonders. Indeed, globally, agri-business incubators serve start-up entrepreneurs, small and medium enterprises and agro-tech innovators among others. Through this initiative, governments across the world have  promoted the establishment of agri-business ventures through a vast pool of commercialisable agro-technologies from Research and Development (R&D) institutes, provided access to infrastructural facilities, made available  capacity building and mentoring, and facilitated funding.

    In most advanced countries such as the US, United Kingdom, and Germany, where the strategy has worked, more agri-business incubation centres provide settlement for activities that cover the entire agri-business spectrum including fisheries, horticulture, veterinary, agri-engineering and food processing. Such agri-business incubators are known to have empowered entrepreneurs who in turn, have created companies that churned out several jobs, thus reducing youth unemployment and also contributing to their country’s Gross Domestic Product (GDP).

    The Nation learnt that while government research institutes in those countries showcase ready-to-commercialise agro-technologies from different segments of the agric sector, there are few agricultural incubators in Nigeria, Africa’s largest economy, to provide access to land, equipment and infrastructure for farm start-ups. This is despite the fact that agri-business incubators have shown the potential to integrate smallholder farmers into the sector in a range of innovative ways that show that small agro-industrial activities can lead to massive job creation in the places where people especially youths live and work.

    Speaking with The Nation, a  specialist organic farming consultant, Mr. Henry Olushola, said there are no structures in Nigeria to provide agricultural business incubator programmes for would-be young farmers. He stressed the need for the government to design programmes to unlock the talent, creativity and innovation amongst youths and motivate them to go into agric-ventures that will help create jobs and reduce unemployment. With the level of entrepreneurial talent in the country, he said his organisation is capable of forming successful businesses with young people who are ready to do something to help grow the economy.

    Olushola assured that through his organisation, young agri-business entrepreneurs would be provided accommodation, land and other start-up supports including seeds, nursery pots and other supplies. Through this strategy, he maintained that a lot of young people will be taken out of the unemployment market. He said this would create new enterprises and drive economic growth.

    This, he pointed out, is because incubation centres create an environment where start-ups can be nurtured and allowed to flourish. “Normally, incubators provide agro-entrepreneurs training and research, which they use to develop and implement innovative solutions to the agricultural problems facing the local communities they work in,” he said.

    Adigun noted that a lot of young Nigerians are now interested in working in agriculture hence, agri-business incubators present tremendous opportunities for economic growth and youth employment. He said it will also result to increase in farm productivity, which will in turn, lead to increase in rural income and livelihood.

    He said by supporting the creation and development of innovative activities, agri-business incubators provide a key link in the improvement of agricultural value chains. He added that with agri-business incubators, government would create a pool of agri-entrepreneurs capable of setting off an agri-business revolution in the country.

    Olushola reiterated his determination to help raise young agro entrepreneurs who will provide broad range of agricultural activities from seed production and other strategic activities in the development of agricultural commodity chains. He, however, said beyond the incubators, investors need to develop sufficient confidence to invest in agri-businesses and in agri-industrial clusters.

    For founder, AgroInfoTech, Mr. Oluwajoba Ayo Okediji, agri-business incubators represent part of the ongoing efforts at increasing economic opportunities for Nigerians. He said there is need to identify potential entrepreneurs in agri-business and offer them value chain development technical support including funds. This, he said, would encourage them to nurture profitable enterprises that can create jobs.

    Okediji announced that his organisation is kick-starting an agri-business incubation in Nigeria. He said his organisation has been working with smallholder farmers and some leading agri-business companies to address challenges in the sector. “We pioneered some solutions to reduce the challenges faced by the stakeholders using new technologies to enable access to market for farmers, information dissemination, farm to table services to mention a few. We need a platform where these solutions can be incubated and accelerated,” he said.

    The expert lamented the lack of facilities in Nigeria primarily focused on agri-business incubation when countries such as Ghana, Tanzania, Kenya, Senegal and Mali have agri-business incubation centres operated by Universities, Business and Research in Agricultural Innovation (UniBRAIN), a facility coordinated by Forum for Agriculture Research in Africa (FARA).

    Okediji said this was what led his organisation to pioneer an Agri-business Innovation Centre – Agro Innovation Hub, in collaboration with the Institute of Agricultural Research and Training, Obafemi Awolowo University (IAR&T), and Moor Plantation, Ibadan. The centre, he explained, would provide a platform where solutions will be created using new technologies to promote agricultural research, innovation and entrepreneurship.

    In Okediji’s words: “We are redefining farming through innovation, using new technologies to make agriculture much more profitable and attractive by collaborating with educational institutions and youth agencies such as the National Youth Service Corps to achieve our goals. We will be organising various youth-driven programmes, events and summits and also offer agri-business incubation, acceleration, and mentorship to interested youths.

    “It will be a hub where various initiatives to add value to the agri-business sector will be launched, collaborating with various stakeholders. We have the consent of some local and foreign based organisations that are willing to collaborate with us to achieve the full purpose of the centre.” He also said his organisation is considering forming public and private partnerships in pursuit of an agricultural sector that meets the job creation requirements as a tool for fighting poverty and food insecurity.

    The Nation learnt that at the sub regional level, for instance, FARA has teamed up with the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) based n Hyderabad, India to establish the West African Agri-Business Resource Incubator (WAARI) in Mali. It is the first ever full-fledged agri-business incubator in West Africa.

    WAARI is one of the six agri-business incubators being established under UniBRAIN project of FARA, with the Agri-Business Incubation (ABI) programme of ICRISAT’s Agri-Business and Innovation Platform (AIP) as the handholding and mentoring partner. The Danish International Development Agency (DANIDA) is financially supporting the initiative in Africa.

    The World Bank projects that agriculture and agri-business together would be a $ 1 trillion industry in sub-Saharan Africa (SSA) by 2030, compared to $313 billion in 2010. “They (agriculture and agri-business) should be at the top of the agenda for economic transformation and development,” the World Bank said.

    Currently, there are successful business incubators in other sectors, especially Information and Communications Technology (ICT), engineering and manufacturing. But with the growing awareness of the importance of extending the initiative to the agric sector, Nigeria’s hope of riding on the back of the agric sector to grow the non-oil sector and create jobs is getting brighter.

  • Diversification of Nigerian markets inevitable, says U.S. expert

    Diversification of Nigerian markets inevitable, says U.S. expert

     

    The United States (U.S.) has increased its business relations and investment in Africa in the past few years, bringing up initiatives targeted at promoting economic growth and entrepreneurship. Ms Mipe Okunsehinde, a Harvard-trained Nigerian-American lawyer and senior associate at the Washington DC-based Covington and Burling LLP, speaks to WALE AJETUNMOBI on how the U.S. investment will benefit Nigeria.

     

    Nigeria is a large market that should naturally make the United States investors to invest, but there has been not much investment from American companies, what do think is responsible for this?

    This has to do with perception about doing business in Nigeria. I think it is time the U.S companies were better educated about the Nigerian market, opportunities therein and how they can have access to these opportunities and to continue to get support from the U.S. government through programmes, such as Trade Africa Initiative (TAI), Power Africa Initiative and Feed The Future (FTF) etcetera. There is going to be an increase in the number of U.S. companies doing business in Nigeria, but at this point, I would say that the issue is more of certain misunderstanding and lack of understanding on how to access and leverage on these markets.

     

    There has been improved trade by the U.S. government and companies in Africa in the last few years, but the chunk of these investments is not in Nigeria, which is the largest market on the continent. Do you think the U.S. is serious about building strong business relationship with Nigeria?

    Yes, I strongly believe the U.S. is interested and committed to strong business relationship with Nigeria. President Barack Obama has shown this commitment several times in the course of his presidency. Although I understand President Obama has not personally visited Nigeria, you have seen the demonstration in the U.S. president’s major programme, such as Young Africa Leaders Initiative (YALI), which is now the Mandela Washington Fellowship. The number of individuals coming from Nigeria are benefitting from the programme. You also see that, Nigeria is one of the beneficiaries of Power Africa Initiative. FTF is very much focus on Nigeria; you also see that TAI is looking at Nigeria as well. So, the fact that Nigeria is featured in all these landmark and signature initiatives of the Obama administration shows that the U.S. is very committed to its relationship with Nigeria. And the U.S. is doing what it can to continue to develop Nigeria and create enabling environment for doing business by U.S. companies and by Nigerian companies as well. Apart from that, the fact that President Buhari was well-received in Washington and spoke to the most senior U.S. officials shows that both the U.S. and Nigeria realised how interconnected their success is. And both of them are committed to realise their potential together.

     

    There have been challenges facing entrepreneurs and start-ups, such as energy crisis and lack of loans to finance entrepreneurial ideas. What are the short and long term measures that the U.S. put in place to help overcome these challenges?

    With respect to power, Nigeria is one of focus of Power Africa Initiative and the law to back this electrification programme in Africa had just been passed by the U.S. congress to ensure that the project gets institutionalised. We also see that when President Obama pushed forth his power plan for Africa, he wished that project becomes international institution. You have the U.S. playing a direct role in powering Nigeria and also see them also playing direct role through what Africa Development Bank (AfDB) is going to do for power in Africa, what the World Bank and others are doing for power in Nigeria. In terms of how entrepreneurs can realise their potential, it comes from private sector to continue to work together. And I am seeing willingness and interest on the part of U.S. companies to come do business in Nigeria and face the challenges of realities of doing business here. Look around and see how many successful Nigerians are here. We believe doing business in Nigeria may be challenging. But, you realise that some of these obstacles are surmountable and there is collective action by individuals who agree to work together and serve as mentors and as early investors. That is how you get entrepreneurs to have that protection at early stage; be it in provision of early capital by those who have succeeded here and investing in next generation by providing mentorship, skills and programmes that teach budding entrepreneurs how to develop their businesses and follow their own footsteps. I believe that, a key component of who we are as a people plays a strong role in ensuring that the next generation of entrepreneurs receive the necessary skills, financial and other supports they need to realise their full potential.

     

    In the face of crashing oil prices, how would the U.S. partner Nigeria to boost investment and revenue from non-oil products?

    Feed The Future (FTF) initiative is one of the signature programmes that focused on developing the agriculture sector in Nigeria and other countries in sub-Saharan Africa. The programme sees agriculture as a commercial enterprise that helps people to create market linkages and to engage in sort of aggregation that is necessary for agriculture to be less of sustenance enterprise and more of commercial enterprise. So, agriculture is something that has got a lot of attention from the U.S. companies and government. The consumer market here in Nigeria in terms of population makes you realise how much potential it has for fast-moving consumer goods. That is another area in which we are going to see increasing supports and investment in diversifying the Nigerian economy. By doing this, you are both directly creating consumer goods and developing the economy, such that people have the resources to purchase these goods. There is increasing reason on the need to diversify the economy; there is more pressure to do so when you look at what the price of oil is today. It is inevitable that Nigeria needs to diversify its economy; we can no longer rely on this thing (oil) that we have on the ground.

     

    Policy summersault and weak laws to support commerce and institutions have been seen as hurdles against the nation’s economic growth, do you believe these views?

    One thing I think Nigeria needs to do is to socialise its laws. There is need to help Nigerian leaders understand that laws are put in place to check arbitrariness and to serve the people. So, when anyone is not complying with these laws, it will have real impacts on individual’s wellbeing, the community progress and the business. There is need to get the people understand why the law is there and why the law is protective of their own interest. To an extent, Nigeria just needs a strong leader, who is going to step in and say ‘I don’t care how business is used to be done; this is what the law says on the book and we are going to enforce the law’. By saying strong leader, I did not mean an authoritarian. And of course, there would be time it would take people to respond to a new era, but the reality is the law. If you want to do business in this country, you need to comply with the laws. Nigeria is no longer a country that anyone can find shortcut around the law. So, it is having a strong leader who is willing to take the risk of enforcing the law, because there is going to be a lot of pushbacks if he starts doing so. It is good to have conversation with the people and private sector. This is the best way to make laws work for the people. It is part of democracy to have notice and comment period. When it is the issue of regulation, there should be a time for stakeholders to add comment to assess the impact of any regulation. It is important for people to feel that they have played a role in the development of the law. It goes back to the first statement of socialising the law.

     

    Do you see African youths ready to innovate and become entrepreneurs?

    I certainly do. One of the things I find interesting in Africa is that, when I speak to young people about what they are doing; I find out that they are accomplishing more in their teenage life than people like us ever accomplished in higher age. So, it is really impressive to see how focus they are, their refusal to be silenced, discouraged and frustrated. They are so innovative, entrepreneurial and resilient that I do believe that, what everybody talks as the youth bubble on the continent is truly a dividend. When you add that with a spirit so young and so committed, that makes significant majority of Africa’s population and that is the engine for growth.

     

  • A platfom for young entrepreneurs

    A platfom for young entrepreneurs

    For Founders of Co-Creation Hub (CChub), a Lagos-based technology incubation centre, the future of business in Nigeria and her competitiveness on the world stage depends on young people setting up successful technology businesses. By backing them and their aspirations, Nigeria will be able compete and thrive in the global race, Daniel Essiet reports.

    AFTER 13 years’sojourn in the United States, where she re-

    ceived degrees, including an MBA from prestigous  Massachusetts Institute of Technology (MIT), and worked for some Fortune 500 companies, Mrs Bilikiss Adebiyi-Abiola returned home to co-found a waste recycling company, Wecyclers, where she is the Chief Executive.

    Her vision was to transform lives by creating jobs for them and helping to build the economy.  She has succeeded.

    Her strategy was unusual – using a fleet of low-cost cargo bikes to collect waste. Another was the engagement of communities in recycling the waste by offering them incentives, such as premium on low-value materials – plastic bottles and sachets using low-cost cargo bicycles.The wecycles are designed , manufactured locally and are operated by youths from the  communities.

    The operators cover specific routes. They weigh the materials. The weight is entered into an SMS points platform to generate a personalised SMS. Wecyclers reward households with some points.The solution was not only innovative but self-sustaining. The company gave households a chance to capture value from their waste while providing a reliable supply of materials to the recycling industry.

    Though the initial funding of the Wecyclers  came from self-funding,  the organisation has grown and gained international recognition for its work in Lagos. At least, two multinationals are partnering with the group. Last year, one donated a van  and the other provided sponsorship for the improvement of the firm’s packaging.

    Wecyclers has made efforts to  eradicate inefficiencies in the recycling value chain by innovating in all aspects of the recycling  from pre-sorting and collection to post-sorting and processing of recyclates. Businesses like hers have uplifted the country, creating jobs and winning awards.

    These include the Cartier Women’s Initiative Award, Tech Award, Echoing Green Fellowship, MIT D-lab Scale-ups fellowship, MIT IDEAS Venture Grant, Yunus Challenge Prize at the MIT IDEAS Global Challenge Competition, and Carroll Wilson Fellowship.

    Since August 2012, Wecyclers has registered about 6,725 households in two Lagos, built 35 cargo bikes, created over 80 jobs, and rewarded  its subscribers with over $ 40,000 worth of gifts and cash prizes.

    But Mrs Adebiyi-Abiola owes a lot to Co-Creation Hub (CChub), a Yaba-based technology incubation centre dedicated to supporting aspiring entrepreneurs. She is one of the entrepreneurs, whose company has been offered incubation space by CChub. A major attraction for aspiring young entrepreneurs, CCHub was established by two visioners – Bosun Tijani and Femi Longe – in October 2010 as social innovation centre.

    Today,  CcHUB is the nation’s first open living lab and pre-incubation space where creative social tech ventures take place. Mrs Adebiyi-Abiola believes that the story of tech entrepreneurship in Nigeria is incomplete without mentioning CCHub.

    Much more than a co-working space, the hub is an oasis of calmness, conviviality and creativity in the Centre of Excellence. It is a rendezvous for technologists, social entrepreneurs, government, tech firms, and investors in and around Lagos where they find find solutions to  societal problems.

    In partnership with some individuals and organisations, CC hub has made it a priority to foster an entrepreneurial spirit among its talented professionals by setting up an environment to help them flourish. It provides resources for new businesses to get started. So far, CChub has helped more than profitable 20 ventures.

    These include Wecyclers, BudgIT, Traclist,VacantBoard,Truppr  andAutoBox. Other include  jobsinnigeria.com.ng, wayopedia,www.caban.com.ng and  Asà. Many of them are profitable.

    The fledgling businesses get perks through partner organisations, such as money from an angel fund, technical support and web hosting services. They amenities include office space and Internet access. It also holds workshops, hackathons and networking events.

    Some of the entrepreneurs incubated at the hub are  assisted to update their skills and knowledge and to explore new opportunities. In the last two years, the promoters of the project have added new components to the process, including the business development procedure, to make the programme more effective for innovators.

    The innovators, which are given incubating space, receive professional business development assistance in commercialising their technological innovations and finding them suitable business partners in Nigeria as well as in global markets. The hub presents incubates with a list of partners, venture funding firms and angel investors.

    In its first six  months, the hub attracted more than  450 active community members – who participated in its open living labs, events and trainings; more than 80 daily users of the hub – who work and leverage its resources for their ventures/projects; 21 start-ups and projects in pre-incubation – being mentored and supported by CcHUB and its network of partners and about 20 active corporate members – which provide support to its goal of harnessing creativity for social change.

    CcHub has taken seven percent equity in its portfolio startups, which has reached eight. They include Traclist, Truppr, Wecyclers,Vacantboards and BudgIT. Its first venture graduated last December.

    To support start-ups in their technological innovation drive, CcHUB and  the Bank of Industry (BoI)  have partnered to raise a $1 million seed investment fund to help small businesses to create social impact in the technology ecosystem.

    Under the deal, the bank has made an investment of $200,000 to aid equity capital for emerging businesses. Indeed, the social innovation fund aims to provide equity capital, with  support to early stage and fast-growing businesses involved in technology and services sectors.

    Chief Executive Officer (CEO) and co-founder, CcHUB, Bosun Tijani said: “CcHUB incubation office was launched in response to the need to provide business development, mentoring and funding support to start-ups that showed traction from our impactful pre-incubation programme.

    ‘’Our seed investment ensures start-ups have a sure footing post-incubation to concentrate on rapidly executing their plans and learning from the market.” In addition, the hub leads co-creation initiatives aimed at creating novel technologically driven solutions to the myriad social challenges facing the average Nigerian.”

    Recently, CcHUB boosted its incubation programme with the launch of a $500,000 seed investment fund to support early stage startups over the next two years. Startups will receive cash ranging from $10,000 to $25,000 to support business model experimentation and operations.

    The hub’s Nokia-CcHUB Growth Academy is a first of its kind business accelerator programme in Africa. It is dedicated to providing intensive continuous hands-on support to help about 30 early stage mobile technology start-ups grow into high growth businesses and build world-class mobile applications.

    The programme consists of three parts – training, app development and launch of world-class mobile apps for Nokia platform. Selected participants undergo hands-on, structured business and technical training to grow their ideas.The programme is delivered with Futurice, a leading global mobile software organisation from Finland.

    CcHUB has launched an initiative to assess the technical talent gap in the country  in a bid to identify, evaluate, and prioritise current and anticipated gaps in the IT workforce. Since inception, CcHub has established partnerships with some stakeholders, including Omidyar Network, Google, Nokia, The Tony Elumelu Foundation, BlackBerry, Schmidt Family Foundation and Samsung.

    Apart from the challenges faced by start-ups, the hub spends over $2,000 monthly on maintaining a generator. Also, due to lack of infrastructure, the hub paid over $25,000 for wireless equipment despite enjoying a free yearly Internet supply worth $80,000 from Main One Cable Company.

  • SEED Awards invites nominations

    Start-up enterprises ownners in Nigeria have been advised to apply for the the SEED Awards, which has  opened for nominations.

    The deadline for applications is March 21 and applications can be filled-in online at the SEED website www.seed.uno.

    SEED is a global partnership for action on sustainable development and the green economy.

    It was founded by the United Nations Environment Programme (UNEP), the United Nations Development Programme (UNDP) and International Union for Conservation of Nature (IUCN) at the 2002 World Summit on Sustainable Development in Johannesburg.

    A statement from the organisation said winners will receive a business support package. For six months, they will get advice on how to develop their business plans, attend workshops targeted at their needs, high level profiling of their enterprises and access to an international network of businesses, governments and development institutions.

    Winners will be selected by an  jury of international experts, and  will receive their awards at the International Awards Ceremony during the SEED Africa Symposium to be held between September 28 and  29  in Nairobi, Kenya, statement added.

    The application form can be downloaded and sent to seedawards2016@seed.uno. Applicants may also contact SEED by email or phone (+49 30 89 00 068 99) should they not be able to submit their application electronically.

    SEED is hosted by Adelphi Research GmbH, based in Berlin, Germany. Partners in SEED, in addition to the founding p1artners, are the governments of Flanders, Germany, India, the Netherlands, South Africa, and the United States of America; Conservation International; the European Union; SWITCH-Africa Green; Hogan Lovells; UNIDO; UN Women; and SEED’s Corporate Partner, Hisense.

     

  • From dogs breeding to farming

    A young entrepreneur, Henry Adigun, is making a living by breeding dogs and farming in Iwo in Lagelu Local Government Area of Oyo State. DANIEL ESSIET reports.

    HIS entrepreneurial ecumen blossomed early. As a kid   in Lagos, Henry Adigun bred dogs. He realised that the price of a well-bred dog is more than the huge amount spent on its up bringing.

    Armed with this knowledge, he put more efforts into breeding dogs. His strategy was to stick to one dog. Before then, he was raising many breeds. With perseverance, he built a thriving business – selling both pets and guard dogs.

    Adigun went for the one that cost N150, 000 per puppy. It was an expensive venture – raising puppies – but it was worthwhile.

    Like most conscientious business persons, Adigun made the  well-being of dogs a priority,  by getting his vet doctor to treat them regularly. Because of this, he was able to sell his dogs at a huge profit. Today, he is happy he has turned his life-long passion for dogs into a business that generates alot of money.  Over the years, his clientele grew to include the high and mighty in the society. This is because he sold puppies that are pedigree.

    Though dogs gave him his first business breakthrough, Adigun  plans to build a profitable agro business enterprise and form a club of rural-leaders trained to transform agriculture into a rewarding enterprise.

    Driven by this ambition, Adigun, who is the Chief Executive of  Yomex Organic Farm, went on to acquire a 16- acre farmland in Iwo area of Oyo State. Now, he also cultivates vegetables using organic methods.  His two-year-old,Yomex Organic Farm is located in  a rural town, 30-minute drive from Iwo, near Ibadan. The peculiarity of the farm is that he does not use any chemical fertiliser. His innovative farming techniques and cost-effective farm equipment have brought down expenses. Each season, he grows short date maturity crops selected for their superior taste and quality. Adigun also grows crops because they have high return and strives to make everything as profitable as possible.

    His cucumber farm is one of the most popular in Iwo. In a good month, he takes home over N400, 000. Adigun said tomatoes are also profitable, but that farmers need to take care of the plants. With an eye for a big demand, he has taken to organic vegetable farming.  According to him, growing vegetables fits into his plan of profitable farming.

    Season extension has been important to his farm since it makes certain crops more profitable and extends growing/selling season. To achieve this, he has built a low-cost   greenhouse. The greenhouse, occupies very little space, but would bring in very good yields.

    Part of good money management, according to him, is knowing when to spend money and when not to do so. Since he realised that irrigation was essential, he put an irrigation system to cultivate acres.

    Since the farm does not have electricity, he built a solar unit to power it. He wants to add a furnished apartment to house interns and guest bedrooms for visitors.

    Managing the business has its highs and lows. Profits are high during the dry season when some crops are in short supply.  To maintain a profitable farm, Adigun, apart from planting various crops, has made  a foray into livestock.   He is raising free range goats and pastured chickens.  He plans to sell goats’ milk.

    For him, the biggest challenge in owning a small business is finding and keeping employees. Still, he has been fortunate to attract people who liked the farm.

    Adigun said agriculture has become a part of his life. He could not even think of doing anything else. He has no time to party or socialise the way most successful entrepreneurs do. He is busy at his farm at the weekend. It is a gutsy and graceful blossoming of entrepreneurship. According to him, his goal is to make farming a full-time venture, and to raise a family with a good quality of life. The other mission includes educating other farmers by mentoring, having interns, presenting workshops and more.  He urged growers to go to conferences, visit other farms, and learn how to make profits.

    Though the journey has been long, it is not without some challenges. However, persistence, and the zeal to succeed has reaped results in the last two years.

    Through exceptional entrepreneurship skills, Adigun has proved that the much-needed second green revolution would come.

  • Fate Foundation chief deplores multiple taxation

    Executive Director, Fate Foundation, Mrs Adenike Adeyemi has appealed to the governement at all levels to reduce taxes for entrepreneurs, saying the  tax regime is overbearing.

    She spoke during Speaking at the Fate Foundation’s Alumni knowledge building session in Lagos.

    She said while small enterprises were willing to pay tax, there were also taxes coming from state governments and councils.

    She maintained that because of the economic situation, small businesses were finding it difficult to comply, urging the government to provide incentives to encourage entrepreneurs rather than introduce new ones.

    She pointed that  higher taxes could be counter productive as they eat into business profits, thereby inhibiting their ability to expand and create more jobs.

    She lamented that the imposition of higher taxes, coming alongside dramatic increases in other  tariffs is crippling the profitability of businesses and thus their ability to grow and thus help Ghana’s economic growth.

    She bemoaned the rise in operational costs and utility tariff hikes all of which had become burdensome on businesses.

    Entrepreneurs, who spoke at the forum, cautioned the government over excessive taxation of local companies. They maintained that if they are taxed too much they cease to be competitive and could collapse which then implies that there won’t be enough to pay taxes to government. They  pointed out that the tax increases  would  result in lower revenues as they dampened economic activity, resulting in less taxable income.

    She advised the tax officers made efforts to get their dues fairly and to clamp down on businesses  without proper enlightenment and  discussion on right taxes.

  • Pupils get lessons in entrepreneurship education

    Pupils get lessons in entrepreneurship education

    AWP Network founder Mary Olushoga has visited some schools in Lagos and Ogun states to meet with young Nigerians under her youth entrepreneurship project – Plan, Pitch, Grow.

    At Lagos State Model College, Meiran, Olushoga explained that her organisation was determined to   improve the economy by increasing employment opportunities and promoting entrepreneurship, among youths.

    The programme, according to her, aims to build partnerships between the private sector and colleges, as well as hone the skills of pupils to improve their employment opportunities. At the end of the training, AWP connected the winning business plans, pitch, and ideas to various resources and business support programmes to ensure sustainability.

    Fifty teenagers were selected from  over 250 applicants. After four weeks of training and several hours of coaching, the AWP Network provided seed funding to the top three top winning ideas. She  had the chance to listen to pupils talk about their experiences in the programme and how that helped them gain new skills and improve existing ones in accordance with the needs of the job market.

    Pupils also talked about how the project provided them with guidance on starting their own businesses.

    AWP Network Founder said: “With the success of this programme, it is our intention that this initiative is replicated across the Lagos State Model College School System.”

    In line with its mission to help Nigeria solve its unemployment problem, the AWP Network is also  collaborating with Covenant University’s H.O.P.E. Foundation to launch the dream project – an initiative established to help secondary school pupils develop their business plans and entrepreneurial ideas.