The Nation Newspaper

Category: Small Business and Entreprenuership

  • Monarch praises govt on skills acquisition development

    The Paramount Ruler of Ikot Abasi Local Government Area,Akwa Ibom State, HRM Edidem Udo Joe Ntukubom XII, has praised Governor Udom Gabriel Emmanuel for providing  skill acquisition centres across the state.

    Ntukubom said this when he  received the  Senior Special Assistant to the Governor on Skill Development Projects Centre, Dr. Majorie Abasiodiong in his palace.

    He noted that Governor Emmanuel’s administration accords priority to the welfare and well-being of Akwa Ibom citizenry, which has informed prompt actions towards rehabilitating defunct skills acquisition centres in the state.

    The former Council of Chiefs’ Chairman, Ntukubom, said  revamping  the  centres, would provide opportunities for youths to acquire various skills.

    The Senior Special aide noted that Emmanuel is poised to spread skills acquisition centres across the  state.

    She said her visit to the area was to have a first-hand knowledge of the state of the  centres, calling on all Ikot Abasi people in particular and Akwa Ibom indigenes at large to support the Governor Emmanuel administration.

  • ‘Smallholder farmers require subsidy to remain in business’

    Dr. Richard Okechukwu is Project Coordinator for International Institute for Tropical Agriculture (IITA) and  British American Tobacco Nigeria Foundation (BATNF) Cassava Project. At its launch at Otu Community Town Hall in Itesiwaju local government area of  Oyo State, he spoke with Bukola Aroloye on the project and the need for sustained public-private sector initiative in driving the agricultural revolution.

    How would you describe the partnership between IITA and BATNF?

    It has been very complementary. First, at IITA, we are technical experts and we always interact with farmers. We always listen to their complaints about what they would love to do and what they would love to achieve. From our findings, one major thing they have always lacked is the resources to getting inputs that they require to implement the technical knowledge they have acquired from the different trainings we have given to them. This, for many years, has been affecting adoption. It is easily discernible, owing to the fact that people assess farmers based on their outlook.

    Understanding that the main challenge confronting smallholder farmers is lack of resources to transform their farming operations, BATN Foundation stepped in to fill this gap by providing unique opportunity for these smallholder farmers to have access to the right inputs that cover everything, from land preparation, planting materials, technical resource persons to be on ground, herbicides and fertilizers. So, what is left is the actualisation of these findings, and results that we have got so far have been positive. It is no longer business as usual. It is remarkable that BATN Foundation has made it a grant, but it will turn out to be a revolving fund. The grant will always be there for this group of farmers to access as entrepreneurs. Also, there are some elements of sustainability which you cannot find in other relationships. But we have found it in this one.

    As partners, IITA will ensure that every missing gap like marketing, forming of cooperatives, group dynamics, conflict resolution between crop farmers and livestock farmers and all those kinds of hiccups are all addressed. The goal here is to ascertain the viability of the model and how this can serve as a useful tool for many other prospective farmers.

    For how long has this partnership on the distribution scheme been on?

    The collaboration started in 2014 and this is the second cycle. We just rounded off Cycle One and we are about moving to Cycle Two, where we believe that the cooperatives will be registered. And from the sales of some of their farm produce, they will pay back a certain percentage of this loan into their cooperative account. By so doing, it will be easy for them to manage the Cycle Two. Also, by the time they sell these farm produce in 2016, they will be able to save up more money for the sustenance of this initiative.

    We have also been able to watch the group grow. We have been able to help them resolve conflicts, considering the challenges that money presents. By the time we are exiting in 2016/2017, we believe that they would have got a good purse, as well as links to all the partners, the input, the suppliers, the fertilizer companies and the herbicide companies. With this unique opportunity, it will be easy for them to source for their raw materials in the right places. Another good thing about this is that these farmers are also linked to where they will sell their (cassava) roots. And hopefully, if the other investors that we have invited to come to Otu, Igboho and Ogboro finally yield by building micro processing centres this year, then we believe that this 110 hectares will be like a child’s play compared to what we will achieve. There will be a gross expansion.

    Are there lessons to be learnt from this partnership between BATNF and IITA?

    Yes, there are lessons to be learnt. A very good example is that agriculture requires patience and sustained support. For any smallholder farmer to do any business there has to be some sort of subsidy. There has to be some sort of support to enable him move forward. In advanced countries, smallholder farmers receive subsidies regularly. Even when they produce and there is a glut, government will buy it. Farmers here in Nigeria, don’t have any coverage.

    The lesson here is that of a foundation that is looking at agriculture and must be targeting this issue of sustainability so that when you give the fund, you should come back to see how they are faring and also see better ways you can support them, not that you should finish and go. It’s a very good lesson that is being learnt here.

    What impact has this scheme had on the benefiting families in terms of improving their productivity in subsidiary farming?

    As of the time we came in 2014, we found that many of these farmers didn’t really know what a hectare (of land) is. Many of them were mixing their crops, planting up to four types of crops on a piece of land, which is primarily subsistence farming. Any farmer you see doing that is just looking for what to eat and how to survive. They were not thinking business. Right now, there is a big shift. You will find out that their yields have gone up from those seven tons in a year to 20/21 tons. But we want to push these yields to over 25 tons. Now that we are getting the market sector doing very well, they will not be at the mercy of monopolists; they won’t be at the mercy of middlemen. Now, they would have a stronger power to negotiate. By so doing, we can start addressing the issue of income, hoping that their income will increase, and their productivity and livelihoods will change.

    In what areas do you think that government and the organised private sector can render more support?

    Government’s responsibility is basically policies. They must sustain policies that are pro-agriculture that are capable of empowering indigenous production. You must sustain those kinds of things. You must provide the enabling environment.

    Also, certain things like feeder roads, tractor hiring services, some basic water management systems, empowerment of the youths and soft loans for farmers, are areas governments can come in to motivate farmers. It is very important that these things are put in place in very good strategic places. The private sector firms are willing to participate but there is no way they can pay for the cost of everything. But once they find out that a good arrangement is in place, a lot of people from the private sector will love to come into that line of business because they need these raw materials for their production. Most of the starch we use in this country are imported. We can endeavour to produce starch from our cassava, maize, cocoyam and Irish potatoes for local consumption. We will not be importing any of these things anymore.

    The high quality cassava flour has become so useful today especially in the production of bread. Wheat, on the other hand, is so expensive. The high quality cassava flour has to be sustained. The private sector, I’m sure, is willing to support its production. A lot of young people, including those in the Diaspora, want to come home with their money but they need an enabling environment.

    How well does the Foundation’s initiatives resonate with the Institute’s and the farmers that have been helped so far?

    Well, all our contracts with the BATN Foundation have moved very smoothly. They have provided all that we agreed ab initio. I think that the free hand and the belief in us as the lead technical partner make the difference here. And it is a relationship we will like to sustain.

    In fact, IITA will like to work with them more in other areas such as yam, plantain, banana and maize cultivation, because these are all important crops in Oyo State and so many other places.

    Most companies in Nigeria often direct their corporate social investments towards providing social amenities, welfare support, etc. Are you satisfied with this kind of CSI in the area of agricultural support?

    Sincerely, I will tell you that most companies will like to go to places where they will have quick visibility. They always like to go to where they will have immediate results. Very few people like this long-term approach and agriculture is long-term business that requires patience. For a company to tread this line, there is some sincerity in helping people to grow. This is one very good thing I love about working with the BATN Foundation.

    Yes, the big ones are okay but agriculture needs something longer. If you are going to intervene in agriculture, you have to be there for a longer time. You have to be there to balance things. Naturally, the environment is changing, the climate is changing and there are challenges to it. The rains are not coming when we want them to come and these are things that farmers cannot control. Any investor who goes into agriculture has to plan bigger and has to be able to do this.

    From IITA’s perspective, what is the future of this scheme?

    The future is big. Now, Nigerians are realizing that agriculture is the way. The former minister of agriculture, Dr Akinwunmi Adesina harped on this. So IITA is fully on ground to support this process. And we will pool all our resources and technical knowledge together to make sure we support anybody who makes agriculture move forward; not only to produce food, but also to make money while producing the food.

    We have to make sure that we look at the entire value chain, from the market to the production; and most especially the young ones, the youth: they are our focus.  We need to get more and more people involved in this process. There is nothing we can’t produce in this country that there is no machine or expertise to do it. We must not continue to be the country that produces the raw materials for others to use.

    Addressing this whole food value chain is very important for Nigeria and IITA in conjunction with our partners like Africa Rice that is focusing on rice, and others that are focusing on cassava including the national research institutes. I think that we will do more now that more and more investors are looking towards agriculture.

    What are your challenges in managing the BATNF-IITA partnership while trying to help these farmers?

    Well, in partnerships there are always challenges. Organisations do have their own. The main thing is building harmony with the federal ministry of agriculture, and the state ministries of agriculture. The people that need it belong to the grassroots. This harmonisation is very important. The goals and objectives of the donor organisation have to be properly streamlined by targeting certain key value chains. The main challenge is getting all things to jell together. This also means connecting all the partners, connecting the research, the extension and getting the government policy to be functional in the way it should work.

  • Behold! The seed of ‘immortality’

    The increase in global demand for sesame seed as a health food has turned the highly domestic consumption item into an important export commodity. This has opened a vista of opportunities for Nigerians to earn good income from cultivation and exportation of the seed, DANIEL ESSIET reports.

    Sesame seeds are a money spinner worldwide. They are processed and used in numerous ways. In most areas of the world, the seeds are produced for cooking oil, used as confectionary topping and as  condiments in baked products. They impart unique taste and textural features when included in baked products. Sesame is rich in calcium and high in antioxidants and other healthful features. Due to the presence of potent antioxidant, sesame seeds are known as “the seed of immortality”.  Sesame oil is also used as conveyor for medical injections, just as it is essential in the cosmetics industry. Many cosmetics compositions include sesame oil because of its antioxidant properties.

    Many international  food  and  cosmetics   companies    buy  sesame  seeds  from  Nigeria and other  countries,   thus making many exporters  of the product earn hard currency smile  to the banks.

    The largest importers of the product are the European Union (EU), Saudi Arabia, United Arab Emirate(UAE), Kuwait , India, China  and Pacific Rim countries, United  States and  Canada . Described  as    a short duration crop grown throughout the year,  sesame seed  has a low water requirement.

    The   National  President, National Sesame Seed Association  of Nigeria (NSAAN), Mr. Sherrif Balogun,  said  sesame seeds farming provides  opportunity  for new entrants, who  cannot  afford  enough  money  to  explore before  going into  export  proper. This is because  with a little investment  as low as N81, 000, a farmer can start growing the crop  on a  small scale.

    Out of this, N16, 500  will  go  for   land  preparation, N20, 400 for imputs, N22,000 for field operations and N15,000 for  harvest  operation. All things being  equal,  he  said, a profit margin of N80,000 can be realised from the N160, 000 invested.

    According to Balogun, an enabling environment has been provided, which include land, sufficient rain and the incentives offered by higher global  market prices.

    But   exporting requires more money. One  needs  at  least N15 million for a container load of  sesame seeds .  Profit varies, between  three  and  10  percent  of   the   invested  capital .

    To meet the demands of international buyers, however,  he  said  sesame seeds  need to meet demand purity and consumer safety standards.

    To achieve  this, exporters have  to  work  with farmers  with proven track records of  producing  commodities  for  export.

    Besides, prospective exporters  have  to be  educated in safety management processes for minimising fungus and aflatoxin levels, and be educated about the importance of complying with sanitary and phytosanitary measures (SPS).

    Buyers and processors  are expected  to have their samples certified by Nigeria’s regulatory body, the National Agency for Food and Drug Administration and Control (NAFDAC), and by internationally accredited laboratories to meet the sanitary and phytosanitary (SPS) measures required for exporting.

    Right now, the Nigerian Export Promotion Council(NEPC) has  identified sesame seed, as a product that would penetrate new international markets and increase foreign exchange earnings if able to meet European and US health and safety standards.

    NSAAN is  ready  to work  with  NEPC to build the capacity of small and medium-size enterprises to implement SPS standards, guidelines and recommendations as means to improve their human, animal and plant health status and ability to gain or maintain access to markets.

    Balogun advised    farmers  and  exporters  to  store  the  seeds  in clean, dry and moisture proof area, free from insects, pests and rodents.  Prospective exporters  need  documents  such  as  invoice, certificate of origin, shipping bill, bill of laden, letter of credit, phytosanitary certificate, GLOBALGAP certification, health certificate and organic certification. Exporters   prefer organic sesame from farmers  for export to buyers overseas.  To them, it is very  profitable  if the local sesame crop meets organic and other high-quality standards.

    However, according to Balogun,   the  price of sesame seeds varies according to variety, month of procurement, season to season, capacity of container and distance covered.

    Exporters   can  source the  commodity  from  states such as Benue, Gombe, Jigawa, Kano, Nasarawa, Katsina, Plateau, Yobe and Cross River.

    Between  2011 and 2012, Nigerian farmers cultivated 92.3 million and 96.2 million hectares of land to produce 179.6 thousand and 188.9 thousand tonnes of sesame seeds, respectively.

    On the average, exporters realised N43.7 million by selling them overseas   during  the  fourth  quarter  of  2013. Hence, it was the fourth most important non-oil export items in that quarter.

    NSAAN  works  with    a network of local trainers  to share  information with the farmers on how to prepare the soil, space their plantings, and harvest and handle the produce.  Improved seeds are guaranteed to produce higher yields, be more drought resistant, and have shorter maturity cycles. Under normal circumstances, the heavy rains give way to good   crops, promising farmers a successful harvest. Farmers have recorded achievement after being empowered with new farming skills and applying quality and improved seeds of sesame.

    To Balogun, encouraging  more  Nigerians  to  get  involved   in  sesame farming  will   help to  get a lot of people   out  of   poverty as many people will   benefit out of modern sesame farming and use the benefits to change their livelihoods.

  • Success stories of Nigerian forex traders

    The  just  concluded   second  Lagos  Forex  Expo & Conference, which  held at Sheraton Hotel, Lagos brought  together the industry’s most respected speakers and drew international exhibitors, sponsors and participants under one roof.   Daniel Essiet spoke with successful professional traders to uncover what it really takes to make a living in the markets.

    The international retail Forex industry is spreading to Nigeria with newly established brokerages gaining ground in Lagos, the country’s commercial nerve centre.   Most  of them  showed up  at  the Lagos  Sheraton  Hotel, venue  of this  year’s  forex  expo, appealing to diverse audiences. They included professionals, entrepreneurs, long time stock traders, equities and forex, and those curious about Forex.

     

    •Afioluwa
    •Afioluwa

    The  forum  was  designed  to  expose  Nigerians  to  opportunities  that  exist  for those,  who  want to make a living  from it. One of the traders, who participated at the forum was Bade Ajidahun Afioluwa Training & IT Officer from City Prime fx. His entrepreneurial personality  encouraged him to try out new businesses. He  was carried away  by  the story  that  forex trading was  a get-rich–quick business. He, therefore, did not hesitate to invest huge sum of money in it.

    But he lost so much  money. It was a period of  high for  people around him, who made money from forex trading and low for him.  He, however, realised his  errors and felt he  needed to learn as much as he could to master the trade. He  made contact with global forex traders, a firm which introduced him to better tricks of trading, using online platforms. This worked for him and he made a huge success from it.

    Moreover, after recording the success, many of his friends and family members began to entrust their money with him in Forex trading. He  then employed a   strategy, which has continued to be profitable for him over the past three years.

    His  strategy simply is to extract profits from up and down trends, resulting in a consistent stream of profits. He  has kept  going because he  kept improving. For  him, forex trading  was a kind  of  entrepreneurship,  which meant tough times and struggling to make ends meet.

    His  greatest strength is seeing an opportunity in every challenge, and finding solutions where others would give up.

    He  trades only when the timing is right for a trade and when the odds are on his  side.  The   strategy incurs less losing trades, therefore, preserving his capital and keeping consistent profit gains.  He  has  gone from a poor  start  five  years ago to having many  clients and generating N800,000 from  trading for himself  and  others.

    He has been  coaching traders and has continued to develop seminar and training programmes on trading psychology for the investment industry, and individual traders.

    •Ajimoko
    •Ajimoko

    Senior Sales Executive, ICM trader, Mr Benjamin Ilesanmi Ajimoko,    said  success in Forex trading depends on one’s mindset and psychology – how one thinks and feels about the market and how one  reacts to it.

    He  said  a lot  of  people   come into the market with unrealistic expectations, thinking they are going to turn $500  into  thousands  of  dollars  in  a week. According  to him,  they  create a mindset that pressures them  want  to make money  quickly  and  as  such  trade emotionally, losing  money in the process.

    While it is very important to have an effective and uncomplicated trading strategy, Ajimoko said  it is even more important to manage  emotions around your trades, adding that  one   needs both to experience long-term success in trading.

    Ajimoko said  prospective traders  need to understand is that trading is a discipline. It is a long-term game of probabilities, one will win some trades, and  lose on some, but as long as one is disciplined enough to stick to a trading strategy, not being emotionally attached to losses, one would  make more winning trades than losing trades and net a profit.

    •Onuoha
    •Onuoha

    Head of Training Department, Black Global, Mr Chinedu Onuoha,   said his  trading method is definitely not a get-rich-quick method that promises 1000 per cent returns a year.

    The   important thing to him is how sustainable the strategy is.  For  him, there is no  point for a trading strategy to be winning this  week, and  losing  next week .

    For him, it  is   depressing and emotionally disturbing to trade that  way. That’s why he   settled down on  trading  strategy  where  he  consistently made  profits, at least  10  per cent  profit on the  capital.

    He  currently focuses  on one particular trait common in winners: patience, enough to wait for the right timing. Onuoha  said  what  he  has  succeed in achieving by this, is to reduce  losses as a trader. The  other  thing is  not  to sell  the dream of instant riches. Though, it is a booming trade, he  said  such  dream  has turned into a nightmare because  it is not  realistic.

    He  trades  a multitude of financial markets, including futures, equities, commodities, and currency markets with a global macro strategy.

    •Mrs Ezeako
    •Mrs Ezeako

    Mrs  Blessing Ezeako is also a trader with Lite Forex.   She  started  trading  as a business opportunity and  it has  become a full time job, whic she loves. For  her, forex is not a get rich quick business. Education for her  is  the core of everything in trading. A major goal, she  has  accomplished is,  achieving  personal profit target. She   didn‘t have any luck at the beginning until she  changed her  outlook.  Despite all the setbacks and monetary losses, which she suffered, she was determined to make Forex trading a success.

    She  attended  training  where  she learnt lessons on trend trading, trading psychology and strict money management that have propelled her  to where  she is in today.

    •Owobamirin
    •Owobamirin

    Sales Account Manager, OBFX Global Markets, Mayowa Owobamirin, who  trades binary options,  said  the  method  guarantee the best possible financial prospect. Owobamirin said  he  has been able  to  maximise profits with  binary options trading. According  to  him, binary  options  trading  is simple, and provides  the trader best experience.  To trade forex, one n      eeds  a debit    card and an Internet connection can become a trader. Almost anybody can sign up to an online investing platform from home such as UFC Markets, InterTrader Direct, ETX Capital or IG, with as little as $100.

  • How to tackle SMEs’ export challenges

    How to tackle SMEs’ export challenges

    A group Multimix Academy and the Nigerian Export Promotion (NEPC) have held a forum in Lagos, where participants discussed the opportunities available in the global export market to small and medium-sized enterprises (SMEs). DANIEL ESSIET reports.

    • Chukwuogo
    • Chukwuogo

    The Managing Director,Voc Royal Resources Nigeria Limited, Victor Chukwuogo, who exports African foods to Europe,  started by selling food in wheel barrows.

    Today, he is mogul in the industry. He said he owes his success to discovering the opportunities in  indigenous foods export.

    Addressing a forum by the  Multimix Academy and Nigerian Export Promotion (NEPC) in Lagos to discuss the opportunities in export  for Small and medium-sized enterprises (SMEs),  Chukwuogo, who started at the Oyingbo Market, Lagos , sold food items from a wheel barrow. From there, he rented a small shop.

    In 2009, e moved to another shop, where he processed and packaged food. After some years, Chukwuogo decided to sell beyond the nation’s borders. The idea came from his customers who take food abroad.

    According to him, his breakthrough came from exporting   vegetables and food items, such  as   egusi, ogbono, chilli pepper, beans, and garri.

    On the opportunities in the business, Chukwuogo said they are limitless, adding that new  entrants  should be guided by mentors.

    He canvassed support for the mentorship programme of the Multimix Academy and the NEPC.

    As a mentor in the programme, he said he was ready to train aspiring exporters on the processing, packaging, sourcing raw materials and labelling of their products, reiterating that there are opportunities for SMEs’ owners in the  African foods exports.

    He said new exporters must realise that processing food items and selling them in the international market takes a process which they must understand to avoid burning their fingers.

    • Aiyegbusi
    • Aiyegbusi

    Another mentor, Mr Olumuyiwa Olu Aiyegbusi, who has been exporting palm wine, moi-moi, ogi, plantain chips to the United  Kingdom, said the business is lucrative.

    The challenges for new entrants, according  to him,  is  keeping  up with the international rules of food security.

    For him, thoroughness and obsession with standards is the key  to success in the export business.

    SMEs owners, he advised,  should have a deep understanding of their export markets.

    He  said new  entrants  need  mentors to expose them to the market trends and training  to  produce to export standards with minimum risk levels (MRLs), food safety and traceability.

    Chief  Executive, Multimix Academy, Mr  Obiora Madu, said growing an international export business requires the mastering strategic planning, adoption of quality standards and partnerships.

    According  to him, would  be  exporters should be  ready and confident to trade in the international market, have a clear understanding of the foreign market, what  opportunities exist and  how  to  package their  products  for  specific foreign market.

    He said the biggest challenges for  new exporters is the ability   to control the ‘chain’ – covering production, packaging, processing to  prevent  the rejection of produce by  foreign buyers.

    He said there are many factors which can deter companies from exporting, but that none of the problems are insurmountable if  entrepreneurs demonstrated to work  with mentors to tackle the barriers

    Madu said there are alot of support for SMEs. He advised SMEs owners to seek advice on how to export more effectively in known markets or how to enter new markets.

    The  Executive Director, NEPC, Mr Segun Awolowo, said the  government has taken steps to enhance support for exporters to improve quality of  produce  meant for the  overseas market.

    Awolowo,who spoke through the Head, Market Development Department, Mr Matthew Iranloye, said the export sector is an-important pillar of the  economy and  the council is  evolving development strategies aim  at helping them strengthen their business competitiveness.

    He said the  council  taking steps  to further equip SMEs with critical export capabilities and that   the export mentoring programme is designed for new entrants in   export.

    He said the mentors would take  would be exporters through a sustained and systematic approach to penetrate overseas markets.

  • How I started a digital marketing firm with N2,000

    How I started a digital marketing firm with N2,000

    Lagos-based entrepreneur, Timothy Anietie, faced many challenges in digital marketing.  Despite that, he  kept his motivation high. Today, his is a success story. DANIEL ESSIET reports.

    The Managing Director/Chief Executive Officer of TimTech Solution, Timothy Anietie, is an outstanding young   entrepreneur.

    Last year, his firm won the American Internet Business School’s award – the Best Web and Digital Marketing Consulting Company of the Year.

    Yet, Anietie was not born with a silver spoon. His is a testimony of moving from adversity to triumph.

    His battle with adversity, and eventual triumph against insurmountable odds, is a story that is both inspiring and emotional.

     

    From adversity to prosperity

     

    His words: “The firm I was working with had relieved me of my employment, due to the downsizing that took place in the company. Although many others were affected, it was the best thing that ever happened to me as it drove me to self-employment.’’

    Though he  cried, the situation, however, drove him to start  a digital marketing  company. The great thing about him is that he started the business with N2,000.

    “I started my business with N2,000 and that was the only money I had to register my domain name www.timtechsolution.com. I  borrowed the money from a friend. I believe that with a idea and zeal, one can start and run any business.

    ‘’That was what I did. I used my savings to buy a laptop, which was the most-needed tool in my business. That was on December 24, 2010, a day before Christmas. I had no money left to celebrate Christmas,” he recalled.

    Today, his business has grown and the company is worth over N10 million.

    Before he lost his office to fire on November 10, last year; he had on his payroll, four staff, with many freelance marketers.

    He has  been in the web design business for over four years.  His websites have attracted interests. Many people are giving him jobs.

    Anietie said the confidence he gained and the appreciation he received for delivering outstanding works have motivated him.

    He has become a huge hit with the customers because of his excellent customer service, initiatives and relationship. His  services include: digital marketing, website design and programming, mobile app development, software development, domain registration/hosting, networking, bulk sms, e-design/branding, online business consulting, trainings/seminars, it consulting, etc.

    He has been able to prove himself.  and has got good references and feedbacks from previous clients.

    He is also the Dean of Studies, www.infotechschool.com – an advanced IT training institute.

    As a start-up company, he worked    alone, overseeing all the aspects of the business.These include telephone conversations with clients, negotiating on projects and budgets, time management, technical development, finance, marketing, preparing contract agreements.

    Yet, Anietie is happy being his boss and taking up more challenges.

    He is an evidence of the meritocracy on the Internet that allows companies run by young entrepreneurs to compete, regardless of funding, location, size, or experience.

    To him, the nation’s digital media market is growing in a big way. There’s an opportunity to do technology development and he is taking the bull by the horns on that.

    Anietie has  seen a paradigm shift in the way Nigerians use the media. Though  print and television are dominant, he sees  the Internet edging  them  and  is offering Nigerians  more ways to connect and consume news and  new  products. So far, advertisers have caught on, and are pouring money into online approaches.

    Anietie expects  the use  to  increase,  fuelled by the cheaper options provided by digital channels.

    He is offering creativity that is essential in digital media, where intense competition keeps business owners on edge.

    He aslo offers customised digital marketing training programmes for organisations.

    Anietie partners organisations to develop programmes that enable them to leverage digital marketing for growth. He sees a good future for  entrepreneurship in Nigeria.

    For him, Nigeria offers many opportunities for startups to solve problems and make money.

    There are opportunities in travel, mobile payments, gaming, marketplaces, and information and products and the potential for impact is immense. By leveraging internet technology, he  said Nigeria can transform the way Nigerians will lead their lives.

    Besides marketing, he is a professional speaker.

  • ‘Why I prefer farming to white collar job’

    ‘Why I prefer farming to white collar job’

    Founder, Springboard, a non-governmental organisation (NGO),  Lawrence Afere, has said the group seeks to create jobs and promote agriculture through organic farming and entrepreneurial training.

    In 2007, when  Afere graduated from the university, he shocked his family with his decision not to use his business management degree to search for a high-paying job in the big city. Instead, he went for social entrepreneurship in agriculture in his hometown Akure,  the Ondo State capital.

    “It was a difficult decision because my parents and siblings were not happy that I was returning home. They expected I’d get a job in the city and then be able to help them as well,” he said.

    His family thought he must be bewitched. After all, who would choose  farming over a high-paying job?

    “But I told my parents: ‘Please dad, please mom, I need to do something different with my life.’”

    And that was what he did. Today, Springboard offers youths a six-month training on agriculture and business. Participants are also grouped and provided with input and farmland. At the end of harvest, each group gets 80 per cent of the profit, while the balance is reinvested into  the organisation.

    Social entrepreneurship was not Afere’s initial plan when he gained admission to study business at the  university. Like many in his class, he was excited about a job in banking or in the oil and gas sector.

    “And I studied really hard, so I could come out with good results that could get me a good job,” he said.

    And Afere’s parents could not be prouder. The organisation has not just generated stable incomes for himself, but for many youths in his community.

    Last year, he was named a Mandela Washington Fellow. He visited the United States and spent a few weeks meeting President Barack Obama and some business leaders.

    But he will never forget the moment  all this changed for him. It was on Friday, November 17, 2006. He was at the library, catching up on some news before hitting the books, and came across a report released by the minister of education. It revealed some shocking statistics about unemployment, and how the majority of young people finishing school were unable to find work. But most shocking of all was the predicted effect this would have on the population.

    “It said by 2020, Nigeria – my dear country – would have raised over 20 million highly skilled criminals. Every year, we are raising more than one million skilled criminals. We are not raising highly skilled professionals in medicine, in law, vocational skills, but we are raising criminals.

    “And, so all my plans for life, for everything, changed from that. I decided that rather than just getting a job, let me rather help young Nigerians get jobs – and in the process – get something going for myself.”

    A  net importer of food? No!

    Once Afere knew he wanted to be a social entrepreneur focused on youth empowerment and job creation, the next step was to work out where he could best do this. Nigeria’s under-utilised agricultural potential caught his attention.

    “Why do we import a lot of food into the country when we have millions of hectares of land that we could use to produce our own? Why are we still senseless – buying food from India, from Thailand, all these countries in Asia, when we can grow all of this food? Millions of hectares of land are wasting,” he highlighted.

    “If you combine agriculture with youths, you can transform this country within years. And that’s why I decided I’m going to help do that.”

    In 2008, he started the Youth Farm Project, which brought together young people in his community to cultivate some donated land. The initiative started to grow and was renamed Springboard in 2012. It has trained over 500 youths since inception. And the programme is also scaling up operations, so it can train 100 people every six months.

    “We have access to over 15 hectares of farm land, and the community is willing to give us more land if we have more young people to train.”

    Towards the end of last year, Afere also managed to raise enough capital to start the construction of a plantain chips processing and packaging factory. And last month, it began production of Springboard’s branded plantain chips. They are already being sold in three states, and Afere plans to distribute to other African countries in the future.

    According to Afere, one of the initiative’s goals is to change the perception of farming among youths. ‘’Many do not view it as an attractive career path, especially the young people in the rural and semi-urban areas; they have seen their parents over the years suffer as farmers … They are so poor and the middle men make more money than they do. And so these young people are discouraged. This is one reason why they want to leave rural areas and go to the cities in search of jobs,” Atere said.

    To slow this trend, Afere hopes to make agriculture “fashionable” among youths. “We help them to see there is a good market for produce, and that you can actually become wealthy cultivating the land,” he added.

    The initiative also teaches business skills, such as how agri-preneurs can get produce to market without using middle men that cut into profits.

    “Farming should be a business. It should not be seen as something only poor people do. You can build your farm and it can become a great business. So, we teach farming as a business. And if you run your business well, it can help you earn a good income. So, that’s what we help them to see: they are a farmer and they are an entrepreneur.”

    The programme, he explained, shows that good farmers and good entrepreneurs have a lot in common. For example, to nurture and grow both crops and companies require hard work, teamwork, re-investment, time-management, planning ahead and patience.

    “A farmer must be patient, allowing his crops to grow and mature before harvesting. The same thing with entrepreneurs – they sacrifice instant gratification for long term success,” he added.

  • Turning waste into cash

    Turning waste into cash

    More entrepreneurs are creating wealth from waste and saving the environment from devastation. They have also created employment for many. DANIEL ESSIET reports.

    The waste on road sides in Lagos is enough to put most people off urban waste management. But this is not so for a group of entrepreneurs who see opportunities in waste  collection and recycling.

    They are poised to create business and employment opportunities for many in waste management.

    Chief Executive, T.Cynthia Nigeria Enterprise, Mrs Cynthia Saka, is one of the women working in the industry. She has spent the last 25 years in waste collection and recycling. She has been in the business since 1986, when she was a student of the College of Education in Ijebu Ode, Ogun State.

    The business that she started as a start-up has expanded into a big  operation run from Lagos and  Ogun states; she has many  employees.

    Her business model is to find waste and turn it into something useful, for a profit. She specialises in the plastic waste.To get waste, she relies on contracts with businesses – to take away their waste, as well as individual consumers collecting and sending it in, in return for payment.They are collecting from dumpsites and garbage cans across the country. Her business has created jobs by partnering  company suppliers, such as plastics and polythylene gatherers.

    Through the business, Mrs  Saka is changing people’s opinions on the value of recycling.

    To raise awareness, Mrs Saka, also a member of the Ogun State Chamber of Commerce and industry is working other collectors and  recyclers engaged in handling waste, to improve the business environment for operators  in waste recycling.

    She is ready to mentor young entrepreneurs, because thanks to her own experiences, garbage is  the place to look for opportunities as the government and the people deal with the challenges posed by increasing waste products.

    She sees opportunities across waste management, industrial treatment,  wastewater and sewage, recycling, and sustainable packaging and believes  indigenous companies stand to benefit from investing in waste recycling. Another lady in the industry is the  Chief  Executive, WeCyclers, Mrs Bilikiss Adebiyi-Abiola.

    Growing up in Lagos, she had witnessed a waste epidemic with  plastic bottles, aluminum cans, and other waste accumulated in streets and open gutters, causing flooding, disease, and stress.

    Though  she studied in the  United States, Mrs Adebiyi-Abiola had this  issue on her mind.

    A graduate of Fisk University, Vanderbilt University, and MIT’s Sloan School of Management in the United States, she  returned  to  launch  Wecyclers in 2012. She deployed a fleet of cargo bikes in collecting recyclables from houses in poor areas of Lagos, in return for rewards.

    She employed young people  who pedal door-to-door on modified bikes that pull large carts with collection bags. They collect recyclables from subscribers’ homes and weigh them; subscribers receive points via text message for every kilogramme of recyclables. Points are redeemed for food and consumer goods, such as cellphones and kitchen items.

    Recyclables are returned to one of Wecyclers’ two plants, where they’re sorted, processed, and bought by recycling companies to make mattresses and pillow stuffing, among other things.

    Working with the Lagos Waste Management Authority (LAWMA), Wecyclers is determined to create  more  opportunities for people to explore waste collection and earn money and  residents rewards to enable better lives and business.

    Participants earn rewards  that  they  use  to  buy up consumer electronics, such as cellphones, irons, and toaster ovens. The rewards programme is funded by the sale of the collected waste and through corporate sponsorships. With Mrs Adebiyi-Abiola,  recovery facilities and trading networks for waste  materials  have emerged across  the state.

    Aware of the danger of disappearing income opportunities for the waste pickers, she  is  taken  it upon herself  to turn waste into sustainable employment for those at the bottom of the economic ladder.

    She is working to help waste pickers become authorised collectors.

    She  engages  pickers to collect  non-hazardous parts such as  plastics and drink cases before delivering them to recycling facilities.Through innovative ways of communication, she aims to reach the next generation of environmental leaders.

    A visit to  her storage  place  revealed  waste, consisting mainly of plastic bottles and packaging, sorted to be processed and recycled. The pickers collect it from the numerous bins throughout the city, from watercourses, gutters and  local markets.

    With her presence, collection and sorting of plastic waste is a lifeline for many families. As  a result of her  effort, more and more women have turned to collecting and sorting waste, a commercial activity that is likely to ensure their survival.   She  is delighted to provide employment for workers while cleaning up the city. The Wecyclers” lever towards sustainable social-economic change includes the

    creation of new and stable job opportunities for younger generations in Lagos, totackle the high national unemployment rate.

    At the moment, a network of collecting and recycling activities has developed, integrated in a value chain recycling industry.

    Notwithstanding, she  is  determined  to  see waste  collectors well  remunerated. To her, a pile of garbage representsa means of livelihood and not something from which to turn away in disgust.

    To industry  watchers, Mrs  Adebiyi-Abiola is a rising star and Wecyclers is a growing company that has the potential to change how Nigerians interact with garbage.

    At the Pitch For Lagos event held at Co-Creation Hub, which involved  10 startups, including BudgIT, Mamalette, CallBase, Alle Capital vying  for a $55,000 prize money funded by the Steve Case Foundation, WeCyclers was announced the winner after a competitive.

    Her work with waste has attracted quite a lot of local and global attention. She has been featured on CNN and The Huffington Post among others. She is also a Fellow of the Echoing Green Foundation and a 2013 Laureate of the Cartier Women’s Initiative.

     

  • ‘Access to economic opportunities bane of businesses’

    ‘Access to economic opportunities bane of businesses’

    Irene Ochem studied Archaeology and History for first degree at the University of Nigeria, Nsukka. She also holds a Master’s in Business Administration from the University of London and a diploma in translation from the University of Trieste, Italy. After working in Europe for over two decades, she is back in Nigeria helping female entrepreneurs as CEO of the African Women Innovation and Entrepreneurship Forum (AWIEF). In this interview with Yetunde Oladeinde, she talks about investing in women, new opportunities available, organising conferences across Africa and more.

    What inspired you to work with women?

    It all started from my upbringing. I was raised by a widowed mother. She struggled to train us and see us through our education. Then, I’ve lived in different countries and continents, and in all the places where I’ve lived and travelled to, I have also observed the lack of recognition of women’s contribution to the economic development of the society. Then there are the obstacles most of these women have to go through. Maybe the situation is not very bad in the west, but in Africa it is.

    Also, across the world, it has become a global agenda that women must be empowered economically. It makes good economic sense because women have a natural instinct to do certain things. If you empower a woman, she tends to invest her earnings into the household, into the education of her children, and they go out to contribute to their communities, the nation and the African continent. So, why not give women the same opportunities men have?

    Women in Africa encounter a lot of challenges trying to start a business. Access to finance is one major problem, but having access to economic opportunities is where it starts. Then there are cultural obstacles. For example, in some communities, a woman cannot source for a loan without acquiring the signature of either her husband or a male figure, even though the person is not bringing anything into that business. In some societies, women don’t have rights to land, even in the Igbo community I come from.

    Then, across Africa, there is a lot of economic growth. Everybody is talking about Africa rising, Africa growing and Africa moving on. The Global Entrepreneurship Summit just ended in Nairobi and Barrack Obama identified some of the problems. There, it was general entrepreneurship that they were talking about but he identified the problem in Africa that women represented 50 per cent of the population but they do not have access to equal opportunities. There he put it aptly that if half of your team is not playing, then you have a problem. So Africa is rising, Africa is the new investment frontier because you have people coming from China, America, Europe and all over the world wanting to grab a piece from what’s happening in Africa. So, why can’t we Africans do it ourselves or why not empower our women? So these are part of the motivation for me. I saw there was need to create awareness; there is need to make our government see the importance of economic empowerment. There is need to empower the African woman because she represents the potential for Africa’s socio-economic development.

    What are some of the things you learnt from your mother?

    My mother was widowed at a very tender age, and seeing how hard she had to work, juggling children and several jobs, in order to make sure we had food in the house, quality education. After finishing high school, I went to study at the University of Nigeria, Nsukka. I graduated, did my youth service, taught, worked for one year in Nigeria, before leaving for Europe. That inspiration was good and being her only daughter, she instilled in me that as a woman, you make the difference.

    Who are your targets?

    We are bringing together established, successful businesswomen, and, also, young, emerging and aspiring female businesswomen. We are bringing together policymakers, the government, non-governmental organisations, and also the academia. Being a pan-Africa event, we are trying to create a platform for networking and learning across borders, and also for potential business partnerships and mentorship.

    There will be a small fee to pay. But we have two very high-level training workshops for delegates. One will be on leadership and ethics, and will be presented by Leap Africa, and the facilitators are top-notch. Then the second one will be presented by the Business School Netherlands, and this is a school people go to get their MBA.

    This is one of the reasons why we are looking for sponsorships. Because if we are able to raise enough sponsorships, then we will be able to make the participation free for all young and emerging entrepreneurs. So, we are working very hard to ensure that happens.

    Apart from the pre-conference workshop, there will be an exhibition. So, companies and industries can come to showcase their products, services, technology. Being an entrepreneur event, the exhibition is not sector-specific. So, any product a woman can consume is welcome.

    Most of the businesses owned by women are SMEs. How do you intend to empower them?

    A lot of the businesses we are talking about are MSMEs. Many of the female businesswomen entrepreneurs are operating in that arena. We also want to bring focus on the challenges faced by women in the rural area. We are not leaving them behind. We are bringing the grassroots to this conference, and to help us do this, we are partnering with the Quintessential Businesswomen Association. They have members in every local government in the country and they are empowering women in the agricultural sector, teaching them how to do things and manufacture local products like honey. So, we are bringing some of these women to participate.

    One of the problems female entrepreneurs face is access to credit. How can this be solved?

    We have a section dedicated to access to finance. We have experts who will make presentations on the topic. One of them is our speaker from Tanzania, Mrs. Sabeta Mawenja, who is the Director-General of the first purpose-built bank to empower women entrepreneurs. She’s coming to present a case-study on how we can innovate in the banking sector, just like they have done in Tanzania. Maybe after the event, a bank can come up and decide to open a bank dedicated for women. They’ve done the same in Ethiopia.

    Then we will have a panel discussion with experts from the banking and business sectors. They will help us explore the problem and find solutions.

    Oby Ezekwesili will be making a presentation titled Securing the Future: The Imperative of Girl-Child Education. So, we have to educate the girl-child, keep her safe; that’s where it all starts. That’s why you have low ratio of women participating in entrepreneurship schemes. We have been able to engage, at very high level, relevant stakeholders like social entrepreneurs like Leap Africa, nongovernmental organisations, the Federal Ministry of Women Affairs. So, our expectation is that, at the end of this conference, we would have created a more enhanced awareness and more informed approach to the challenges that women encounter in their businesses. Then we hope to be able to proffer solutions.

    What are some of the challenges encountered?

    Of course, I’m also an entrepreneur. There have been challenges with finance, finding a skilled workforce, and all the regular challenges. Putting up an initiative like this is far from simple, but when you are passionate about something, it appears seamless.

    What motivated you to start a business around conferences and events?

    I’ve a lot of experience with conferencing. My second university degree was as a translator. So, when I finished, instead of going to work as an interpreter, I went into conferencing. Why? The nearest opportunity was to work for the European Union, but I wasn’t an EU citizen at the time. So, I started organising conferences across Europe. From there, I joined UNIDO, where I worked for ten years. So, I’ve had to organise very high profile conferences. Then I worked in Cape Town, South Africa, as a research manager, before going to Ethiopia.

    My love for professional and international conferencing started in 1996 when I organised the 16th General Meeting of the European Grassland Federation (EGF 1996), September 15 – 19, in Grado, Italy. Not only was I employed to organise the conference, but it turned out that I was the only black head in the crowd during the event. Instead of being intimidated, I felt rather motivated to go on, and today I am glad I did.

    How many languages do you speak?

    I speak Igbo, English, Italian and French.

    You still look smart and fit. What is the secret?

    I eat healthy, do exercises, and practise yoga, essentially. That is what I do to unwind. Then I read a lot when I have the time.

    My family motivates me. I’m passionate about Africa. After working for decades in Europe, I realised that with all of our resources, Africa can be better. I’m one of those people who believe in Africa.

    What are some of your memorable moments in life?

    It’s connected to my family life. My marriage and the birth of my children.

    My husband is a retired scientist, Dr Alex Ochem.  We met in Nigeria while he was on holiday.

    If you had to advise female entrepreneurs, what would you tell them?

    They should stick in there. It’s not easy, but it’s worth trying. They shouldn’t give up.

  • Inflation, interest rates batter small businesses

    Inflation, interest rates batter small businesses

    As Nigeria fights to beat back raging inflation, many of its small and medium-sized enterprises (SMEs)—disadvantaged even in good times — are struggling to survive the battle, the President, Association of Micro Entrepreneurs of Nigeria (AMEN), Prince  Saviour Iche, has said.

    The net effect of inflation, he said, is high on businesses, creating a kind of worst case scenario for companies struggling to cope with high inflation and high interest rates.

    According to him, small businesses  are  facing  a tough situation, adding  that  the  pain they  endure runs deeper, with roots in policy shortcomings that need to be addressed by  the  new  regime   if the country is to shift to a more balanced and dynamic economic model.

    While  other factors  are impacting  negatively  on the economy, Iche  said  plunging revenue as  a result of the  state of the  economy   was   making  it difficult  for  small  businesses to  make a profit  not  to talk  of  recruiting  new hands.

    Interestingly, according to him, a number of Nigerians are interested  in starting  new  businesses, but  the greatest challenge is the dearth of financing, adding many banks are reluctant to lend to the sector for a variety of reasons.

    To  encourage  more  Nigerians  to be self -employed, he  urged  the   government   to address the challenge of creating a dynamic SME sector, adding  that  the  current  national   macroeconomic woes, reflected  in  Naira  depreciation  ito make matters worse.

    He  said private companies and SMEs  have remained small in scale because of low competitiveness and an unfair business environment. It was for this reason that the companies should receive support from the Government to access loans, he added.

    Government, he said, should be supportive by providing markets, land, preferential loans and technology, as well as training and management, adding that SMEs constituted the majority in the business community and that they have played a vital role in the economy by providing jobs, increasing income and mobilising resources for investment in development and poverty reduction.