Category: Small Business

  • Making a living as a barber

    The hair cut industry is continuing on its growth trajectory with more and more barbershops coming up. For young people, it is an exciting industry to be involved in. They are making a living from it,  VICTOR ODIASE and OBETO CLINTON report

    Hair cut business was an occupation  for the old but today young people have chosen it because the career presents many opportunities and perks that one may not have even considered.

    Some of these include flexible hours and rewarding work in a creative industry. Few trades like barbing offer as many opportunities to open ones own successful business.

    For this reason, new gentlemen’s barber shops have taken over Lagos .They are established by young people, most of them graduates of other disciplines. They provide haircut services including shampooing, cut and styling. They also specialise in the executive contour style.

    One of those happy with barbing as a business is Mr. Babatunde Fadejo. He operates from Ilaje area of Bariga, Lagos State.

    He started the business in 1999 and up till now he has no regrets. He said: “I am a graduate of Olabisi Onabanjo University (OOU) .I studied English and Literature and graduated in 2003. After my youth service, I searched for a job to no avail. The ones I saw were not rewarding jobs. Meanwhile, before gaining admission to the university, I was a learning barbing .In 1999, I opened my own saloon.”

    For him, the business is profitable.

    In his late forties, Babatunde uses the money he gets from barbing to feed his family. He said: “I started with charging people N70 then for haircut, but now I charge as much as N500.” He makes efforts to ensure the customer receives his personal service from the moment they set foot in his barbershop.

    He discovered that excellent communication skills are a big part of the barbing culture.

    For one customer, he spends approximately 40 to 50 minutes. He always encourages his customers to try something new. His barbering abilities included skin fades, beard shaping, and scissor and clipper over comb. He also offers styling advice to those who wanted direction on their personal look.

    He considers himself lucky to have a base of regular customers who would occasionally drop by.

    A young man in his early 20s, Oghenetega Ebiuwe, owns a barbing saloon in Bariga market. The business has offered him the opportunity to meet and interact with people from all walks of life. In return, he is happy to play a big part in making people look their best.

    Read Also: Justin Bieber debuts ‘cotton candy’ pink hair cut

     

    Ebiuwe has been able to build a range of clients who come every week asking for different hairstyles. This makes the job less repetitive and exciting.  One of the challenges he has encountered is dealing with clients demanding a haircut that is not suitable for their face,  shape. Some come in without making up their mind about what haircut style they want and may struggle to express what haircut they want. Using his experience, he unleashes his creative side to try out a cut which his client adopts for a permanent style.

    For him what makes a good barber is the ability to create sharp and modern barber haircuts, along with providing an outstanding service for clients. This helps him to get more   tips.

    Because of the state of the economy, sales have not been going smoothly.

    His words:  “Before, I used to make between N7, 000 to N8, 000 a day but now I make between 3,000 to N5, 000.”

    Having done the business for some time, Ebiuwe sees a perfect haircut as a combination of facial structure and hair type.

    Another barber, Johnson Chibueze owns a saloon at Olowu Street around Bariga axis. He sees the business as lucrative. He said: “I am able to feed from the little money I have been making through this business. In a day I can make as much asN5, 000. This is what I use in of feeding my wife and a one -year old daughter. My education ended at O Level because my parents were not financially able to help me further my education.

    Mr. John Alibi is another barber doing well.  A family man, Alibi started the business in 2011.

    A graduate of Agriculture Education, College of Education, Oro, Kwara State in 2005, Alibi taught in many schools but wasn’t satisfied with the pay. He had to quit. He learnt barbing for almost a year before going into it. He said: “I taught in schools but I saw the pay was not good enough .For this I went into barbing.

    He   earns at least N1000 Naira during working days but more during the weekends. He believes keeping the community-centric to everything he does really sets his businesses apart from others.

    A haircut at the salon typically takes an hour, which a growing number of men have grown to appreciate. Most customers are men in their 30s and 40s.

    Most of the barbers keep TV sets to provide entertainment for their customers. One  experience common to all of them  are situations were some customers come to the barbershop every day in the afternoon and sat there late , reading newspapers, listening to the radio and watching the world go by.

     

  • Boost for green entrepreneurship

    With unemployment rate standing at about 25 per cent, Lagos’ Apex Lion Club President Mrs. Cynthia Saka fears it could spell disaster for the economy. Consequently, she is taking steps to teach youths and others about recycling and green initiatives and how they can make a living, DANIEL ESSIET reports.

     

    From used oil recycling to upcycling old toys, there is a campaign to get young Nigerians to develop an eco-aware attitude. This is done in a number of ways; from explaining the basics of selective recycling to teaching them various ways to reduce waste. A major reason for this is to address the growing youth unemployment put at about 25 per cent.

    One of those in this campaign is Lagos Apex Lion Club President Deaconess Cynthia Saka, who fears the rate of unemployment could go higher with the economy in short supply of white-collar and low skilled- jobs. It is in line with the Lions’ Club’s objectives.

    Mrs. Saka is determined to support the government in scaling up responses to youth unemployment and underemployment crisis. She spoke after her investiture as president of Lagos Apex Lion Club.

    Nigeria has a serious waste problem and produces thousands of tonnes of solid waste every day, but inadequate laws and lack of resources mean that only a few are collected. The rest ends up on the streets, where it blocks drains, encourages vermin, and spreads diseases.

    She sees plastic littering the streets, clogging the sewers and encroaching into homes. She believes waste is a resource because it is churned out in abundance and it can be harnessed to build up into a thriving business in the process.

    Her plan is to help youths turn trash into products and build sustainable businesses that address waste issues – while also providing skilled green jobs.

    She said waste plastics have detrimental impact on the community, environment and human health and even on agricultural land, hence the need to recycle them and help Nigerians transform them into money.

    According to her, green entrepreneurship is going to form an integral part in her fight against youth unemployment due to the low entry-level requirements.

    She said promoting youth self-entrepreneurship and creativity in the field of waste re-use and management is definitely an indispensable investment, not only to pave way for new ideas and service improvements, but also to rethink future resource management in a perspective increasingly sustainable.

    Read Also: Lions Club measles campaign ends today

    Mrs. Saka is already training youths on waste plastics recycling. She wants to train many Nigerians on it to reduce unemployment, fight poverty and reduce idleness, saying this will be achieved through practical, high-impact solutions aimed at creating opportunities via education and training.

    According to her, the club understands that partnerships and collaborations are the bedrock of success and the drivers of sustainable impact. To this end, she said the club will work to facilitate the partnerships necessary to solve the youth unemployment problem. She promised to take the club to greater heights, even as she gave assurance that all club projects for the less privileged in the society, would be completed.

    The District Governor 404-2 (2019-2020),Lion Wesley Kafidiya, stressed that the Lions Clubs worldwide is charged to be at the forefront of transformational change in their communities, despite economic, social and political challenges.

    Lions Club International is an International secular, non-political service organisation founded by Melvin Jones in 1917. As of April 2015, it had over 46,000 local clubs and more than 1.4 million members in over 200 countries around the world.

  • Nigerian startup, others shine in South Africa

    GeroCare, a subscription-based healthcare service for the elderly, was among the top 10 startups handpicked as Best of Ecosystem from each of the major capitals on the continent.

    This was announced during the just-concluded AfricArena Summit held in South Africa.

    Others were Cloud 9 XP from Kenya; Fresh Box from Rwanda; African Food from Ivory Coast; Afrikamart from Senegal; Popaddress from Morocco; Echo from Tunisia; Xiot from Egypt; Africa Business Integration (ABI) from Cape Town and KHULA from Johannesburg.

    GeroCare provides affordable, easily accessible and regular checkups by physicians. The idea was born out of the need for people show love and care from anywhere they may be in the world to their parents in Nigeria.

    According to a statement, the startups were selected during the AfricArena Tour – a crucial element of the Summit.

    Over a seven-month period, the AfricArena team embarked on a tour of the 10 leading tech hubs on the continent to find the most promising tech-based startups in these areas.

    The statement said the third annual AfricArena Summit kicked off Cape Town Tech Week with two days of intensive pitching from over 100 of the best African and African-focused tech startups and innovators from over 20 countries. The summit was also a destination for inspiration where seasoned entrepreneurs such as Vusi Thembekwayo and venture capitalists like the founders of Breega Capital shared their experiences and thoughts with attendees wanting to enrich their knowledge.

    Read Also: Twitter CEO Jack Dorsey meets tech entrepreneurs in Lagos

     

    Of this year’s winning startups, AfricArena Founder, Christophe Viarnaud said: “Entrepreneurs are Africa’s number one asset and the more than 100 startups that attended the Summit this year are amongst the very best innovators on the continent, and demonstrated their desire to create innovation not only to resolve challenges in Africa, but to make the world a better place.”

    Silicon Cape Director, Zimkhita Buwa added: “AfricArena is a platform filled with opportunity to showcase amazing African startups like these and give local and global investors an opportunity to hear their stories and provide the necessary funding required to scale these startups.”

    In addition to pitching sessions for the startups, the Summit hosted a refreshing session during which three tech hubs – Nairobi, Dakar and Cape Town – pitched to attract the best entrepreneurs.  Each hub came up with creative ideas to illustrate the strengths of their ecosystem.

    Finally, in a reversed role pitch battle, three investors –an Angel Investor and Chairman of ABAN (Nigeria), Tomi Davies; Boldewijn Sloet from Africa Tech Ventures (Kenya) and Danai Musandu from Goodwell Investments (Netherlands) – pitched to the startups and corporates.

  • New survey: Power outages a major constraint for techentrepreneurs

    By Daniel Essiet

     

    Nigeria’s young tech sector is facing a major hurdle in unreliable power supply, with the average tech firm reporting 30+ power outages per month, according to a new survey of the  tech sector by the Center for Global Development and the ONE Campaign.

    The survey covered 93 tech firms across the tech industry. Firms, were asked about a range of potential business obstacles, including access to credit and electricity, corruption, taxation, the legal system, and more. Political instability, access to finance, and reliable power were the most severe constraints, according to respondents.

    Nigeria is becoming a major African destination for tech investment, driven in part by a large, well-connected population. but the survey raises concerns about the fundamentals of the business environment tech entrepreneurs operate in.

    “Everyone is talking about 5G access or startup accelerators, but we found Nigeria’s tech industry is struggling with much more basic problems, like unreliable electricity. The firms we talked to are dealing with dozens of power outages per month. That’s hard for any business, and especially for a technology company,” said one of the authors of the report and a Senior Fellow at the Center for Global Development, Vijaya Ramachandran.

    “Basically, Nigeria’s 21st century economy is being held back by very 20th century problem: lack of power,” she said. Among some of the survey findings were that 57 per cent of tech firms surveyed said reliable access to power was a “major” or “severe” obstacle to their business. 53 of the tech firms surveyed reported 30+ outages, and another 22 reported more than 20 outages per month.

    Read Also: Why tech startups are growing in Nigeria

     

    A typical power outage lasts two to three hours for most firms, although for a significant group (about 15 per cent); the lights usually stay off for five or more hours at a time. A third of the surveyed firms reported losing more than 20 per cent of their sales due to power outages.

    ”We know that unreliable power is a huge issue across Nigeria, and now we have data on just how badly outages are affecting technology companies. Big Silicon Valley investments and government-sponsored tech hubs can be helpful, but Nigeria needs to get the basic business environment right first. That means providing the energy infrastructure all businesses need to flourish,” Ramachandran said.

  • Advancing women entrepreneurship

    There are concerted efforts to support the growth of women entrepreneurs as a strategy for poverty reduction, social well-being and sustainable economic growth. One of these is anchored by a Lagos-based non-governmental organisation (NGO), Metro Women, in partnership with Creditpro Limited. They held a Female Founders Accelerators Conference in Lagos, in commemoration of Women Entrepreneurs Day. DANIEL ESSIET writes.

     

    Women’s entrepreneurship is an invaluable tool for boosting economies and empowering women. In recent years, Nigeria has made significant progress on its socio-economic status, yet women are estimated to own a little percentage of Small and Medium-Sized Enterprises (SMEs) and face various barriers to entrepreneurship, which include, among others, limited access to finance, infrastructure, lack of business knowledge and discriminatory social norms.

    The case for investing in women’s economic empowerment is compelling.

    Speaking at a Female Founders Accelerators Conference in Lagos, in commemoration of Women Entrepreneurs Day organised by Metro Women, in partnership with Creditpro Limited, the founder, Mrs. Chinenye Nnoli, said women were true agents of change whose innovations can lift communities and the nation.

    Mrs. Nnoli said getting involved in business would help women gain valuable knowledge and experience to escape the poverty trap. She said with this in mind, government and the private sector should focus on giving business training and aid to women interested in entrepreneurship.

    She said the country needs a business environment that enhances women entrepreneurs’ access to capital through innovative financing mechanisms, saying tackling the unique challenges faced by women entrepreneurs would require innovative approaches, including innovative financing mechanisms. To this end, she said her organisation, in partnership with Creditpro Business Support Services Limited, Soar & Heritage and Stage Africa Foundation, established a female founder’s accelerator to provide women-owned enterprises with the resources, skills and enabling environment to grow their businesses and generate sustainable and inclusive economic growth.

    She said the accelerator initiative was important because it has proven to be a tool to promote economic development, stating that it would help businesses run by women entrepreneurs to scale up into successful enterprises so as to reach their full potential by providing them with 12 months of training, mentorship and advisory services at no cost.

    Mrs.  Nnoli said its Business Accelerator for women-led small and growing businesses and invited applications for its inaugural batch of 30 ventures, saying  30 startups were carefully chosen from over 500 applications to undergo training. Training activities will include self-assessment of business, case-study based approach to covering business basics including growth, and expansion of business and fine-tuning business plans.

    During the training period, she said mentors would assist and help business owners to broadly identify the problems their ventures are facing and counter them, stating that  the hub for the accelerator  was  provided by Access Bank and  that small businesses can access up to N2 million as start-up capital.

    The Chief Executive, Creditpro Business Support Services Limited, Mr. Sola Adeyiga,  said his organisation was delighted to have the opportunity to champion the capacity-building of women entrepreneurs .The diversity of enterprises, he pointed out offers great scope to encourage some unique ventures, enabling women’s empowerment and their ability to support their families and add value to their neighborhoods.

    Read Also: Women Enterpreneurs hold AGM IN Lagos

     

    Adeyiga said the partnership was focused on strengthening women entrepreneurship, best practices, use of innovation in improving women entrepreneurs’ role in economic development and financial constraints in entrepreneurship.

    The Lead Partner, Soar& Heritage, Jennifer Daniel, said her organisation was happy to be part of the Entrepreneurship Accelerator, designed to inspire, educate, and empower women.

    The Accelerator, according to her, supports efforts to encourage women-owned businesses.

    A major highlight of the programme was a session which banker-turned hairstylist, Bruno Oaikhinan, told the audience how he spotted a hair business opportunity in Ikeja Mall.

    Oaikhinan said he decided to set up a hair salon in a Lagos mall after realising that no matter how the economy is faring, people are always prepared to spend money on their hair. At weekends it is packed with women, men and children being groomed.

    He said he was always interested in hair and during his 12 years in the financial industry, took lessons and apprenticeships on the side to learn the trade. Then he spotted an opening and began saving. He noticed there was no salon in a mall and he wanted to be the first – though it was a big risk.

    Eventually, he opened the hair salon which has turned to a business success.

    He believes the secret of his success is having a business model that suits all budgets.

  • Tech innovators address pressing issues

    The 10 leading start-ups across Africa will be showcasing their solutions to some of the biggest challenges affecting the continent at the Startupbootcamp (SBC) AfriTech 2019 Demo Day.

    The event, which will hold tomorrow, is the culmination of another successful year for the first mentor-driven, multi-corporate backed accelerator programme for top-tier tech ventures in Africa.

    In a statement issued by the organisation, the start-ups that will show off their solutions spanning financial services, retail, agriculture, property, big data, commerce and more.

    These include Curacel Systems (Nigeria), the first health claims switch in the country. Powered by an artificial intelligence (AI) fraud detection solution that increases the efficiency of processing claims, it digitalises claims at hospitals and sends them directly to the health insurer.

    Read Also: Lagos empowers 3000 women with free skills, startup equipment

     

    Curacel saves companies up to 15 per cent of erroneous and fraudulent claims. Also from Nigeria is HouseAfrica Blockchain. It is s a Blockchain-based land registry that aggregates unique land titles and reduces the time it takes mortgage banks, lawyers and other stakeholders to query and register land titles. By providing an immutable ledger with visual map reference, HouseAfrica ensures the integrity of land titles and increases access to credit. Others are     Asilimia (Kenya)  that makes mobile money cheaper and easier to use for informal traders whilst rechanneling the transaction fees saved into critical services and products they couldn’t previously afford and access such as insurance;    Cinnamon Clubs (Uganda), helping the treasurers of savings and investment clubs to automate the bookkeeping of the transactions from members to and from the club and   Databotics (South Africa)  that opens up the power of robotic process automation to the small business  market. From automating lead generation to submitting tax, DataBotics is able to remove mundane and repetitive administrative tasks that plague almost any company across every industry.

    It include   Rentoza (South Africa) that has created a marketplace that enables people to rent premium goods through a low-cost model underwritten by product insurance, Snapslip Holdings (South Africa) that eradicates paper receipts by sending these receipts digitally to a customer’s profile, thereby giving the customer a digital receipting repository and   Survey54 (United Kingdom), a survey intelligence platform making market research easier within Africa and emerging markets.

    Yobante Express (Senegal), a web and mobile platform that connects e-commerce retailers, businesses and individuals with independent and casual couriers, that will handle deliveries from point to point and YouFarm (Zimbabwe) that provides farmers with access to collateral-free finance by getting people to invest in crops and livestock and share the profits with the farmers when the produce goes to market.

  • CIAN makes case for indigenous auctioneers

    The Certified Institute of Auctioneers of Nigeria (CIAN) said it has certified auctioneers to handle online and traditional auction in the line with best international practices.

    Its  Registrar, Mr. Hassan Adeleke, spoke with reporters in reaction to the Economic and Financial Crime Commission (EFCC’s) effort to auction some items recovered in its anti-graft fight.

    Adeleke said the commission, under the leadership of Mr. Ibrahim Magu,  deserved commendations.

    When asked about the remark credited to Magu that the EFCC would invite non-Nigerians to assist the agency to sell off recovered assets, Adeleke said he believed that EFCC chairman was misquoted.

    He said: “CIAN wishes to place on record the appreciation of our institute about the effort of the Acting Chairman, EFCC Mr Ibrahim Magu and his team in the light against corruption and economic crimes in Nigeria.

    “We are however surprised about the statement credited to him in the nation newspaper of 1st November 2019 and some online newspapers that foreign auctioneers will be engaged to auction the pieces of jewellery and luxurious houses forfeited to the federal government as a result of court order made absolute against the former minister of petroleum resources as well as sales of other recovered assets within the purview of the commission. We want to believe that he was misquoted because, from our professional deduction of his pronouncement, he specifically stated ‘local and international collaboration to transparently dispose of all recovered assets by the Commission.”

    He said the group doesn’t believe the anti-graft chief is inviting foreign certified auctioneers to carry out an assignment which local certified auctioneers can do very well. We believe his assertion is simply that of collaboration.

    “Accordingly, the CIAN has capable and well-trained certified auctioneers who can handle the auction both online and traditionally in the line with the best international practice comparable to anywhere in the world.

    Mr. Adeleke said to sell these assets, particularly the houses located in different countries abroad, they believe valuers were engaged to determine their reserve prices.

    “Most countries all over the world use their local professionals to carry out this type of assignment not only for economic and security reasons but for proper accounting, monitoring and sanctions when the need arises.

    “How do you sanction foreign auctioneers?  The case of Process and Industrial Development (P&ID) is a pointer to all these. As a matter of fact, we have cases of cowboy auctioneers posing as international auctioneers. The Certified Auctioneers in Nigeria are traceable and accountable,” he said.

     

    Read Also: Chartered Institute of Arbitrators gets Ibadan chapter

     

    “For the first time in Nigeria, a public advertisement was made last year in many newspapers by the EFCC under the Acting chairman requesting the services of local Certified Auctioneers and many auctioneers were prequalified and shortlisted,” he said.

    The process was transparent and competitive among the local auctioneers. This process should be sustained by engaging local and well-trained Certified Auctioneers with international partnership and affiliation which is in no small measure will generate more foreign exchange and employment to the development of auction industry expertise in Nigeria.

    “In terms of international collaboration, The Certified Institute of Auctioneers Nigeria has a memorandum of understanding with the National Auctioneers Association [USA] National Association of Valuers and Auctioneers [UK] respectively.

    “Many members of the institute also have attended best auction courses such as Certified Auctioneers Institute [Indiana University ] Accredited Estate Auctioneers, Benefit Auctioneers, Certified Estate Specialists, Auction Technology, Auction Marketing Management and University of Ibadan Consultancy Services Advanced Diploma in Auctioneering”, he said.

    Adeleke added that with the strength of membership and professional competence of CIAN members, they in the best position to render any auction services in Nigeria and overseas and we are ready to partner with EFCC and other MDA’s to achieve best results in the interest of all Nigerians.

    “Specifically, you stated about local competent professionals with the capacity to carry out the traditional auction and e-auction technology in Nigeria, are these companies’ members of the Certified Institute of Auctioneers, Nigeria?

  • SMEs urged on technology adoption

    The co-founder, Lagos Startup Week, Olumide Olayinka, has appealed to Small and Medium Enterprises (SMEs) to take advantage of technology to enhance their businesses and scale across multiple countries.

     

    He spoke at the 2019 Lagos Start up Week, held across the state and organised by Prime Start-up, Lagos Innovator, Alliance Francaise, Lagos and Africa’s Talking.

     

    Tagged Collaboration-Together, the event brought hundreds of entrepreneurs, innovators, Investors, developer, corporate and local leaders for a full week of learning and networking.

    Read Also: Lagos empowers 3000 women with free skills, startup equipment

     

    He said the world is changing and technology is no longer an industry but the underlying driver of change and innovation for every business everywhere.

     

    For instance, he said SMES with  e-commerce stores can easily scale across countries. He noted that collaboration is the new competition in Africa and across the world as its enable business owners build lasting and sustainable businesses.

     

    He said the commitment of the Lagos Week Start-up is to foster entrepreneurship across Africa.

  • Imo seeks partnership at #StartupSouth5 Uyo

    By Lucas Ajanaku

     

    The Imo State Government is exploring possibilities to deepen broadband connectivity across the state.

    Its Commissioner for Technology Development, Nze Meekam Mgbenwelu stated this while speaking at the just-concluded #StartupSouth5 Conference in Uyo, Akwa Ibom State capital.

    He said the ministry would initiate moves to replicate what MainOne had done in Edo, Ogun and Lagos in his state.

    He reeled out what he described as ‘modest achievements’ of the current administration in Imo State to include – training of about 240 girls/women in coding (in partnership with Microsoft), training of over 5,000 Imolites in basic FinTech and the ongoing conversation with Google to make the state the Digital Economy capital in the Southeast.

    The theme of this year’s conference was: Unlocking the Next 60 Million People and it explored: Making Broadband Accessible & Affordable.

    In a keynote during the closing the ceremony of the weeklong event, MainOne’s CEO, Ms Funke Opeke highlighted the importance of broadband to economic development and stressed why governments across Nigeria should pay attention to enabling broadband across their domains.

    Quoting a World Bank report, she said: “10 per cent in broadband penetration would increase GDP per capita growth by 0.9- 1.5per cent.” She encouraged them to embrace creative approaches towards achieving the broadband goal while using her company’s deal with Lagos, Edo and Ogun states as an example. She further said  the states are happy to partner with the private sector to achieve their vision for a digitised economy.

    On why she attended the conference, Ms Opeke said: “A tree can’t make a forest. It is important for other states and regions in Nigeria to take advantage of the opportunities the digital economy provides because only then will Nigeria be able to maximise her true potential and attain assured prosperity for her citizens.”

    Earlier, in a speech to declare the conference open, the Commissioner for Science and Technology, Akwa Ibom State, Dr Iniobong Essien said that the Government of Dr Emmanuel Udom is interested in developing technology while industrialising the state.

     

    Also, in a keynote titled: Domesticating the Digital Economy,  Founding Partner, InfoGraphics, Mr Chinenenye Mba-Uzoukwu advised Southsouth and Southeast governors to pursue regional collaboration.

     

    Mba-Uzoukwu was a former Manager, West Africa, Microsoft, said this will help to open up the opportunities in the region.

     

    The 2019 edition of #StartupSouth conference featured over 100 speakers in 60 parallel sessions. The sessions covered six broad focus areas – Business, Technology, Lifestyle, Personal Development, Funding, Policy – which are geared towards providing participants with the requisite intelligence needed to drive their businesses.

    In his own remark during the ‘Doing Business in the South-South-East’ session, Sunkanmi Oriyomi, Regional Manager, South-South, at the Bank of Industry Ltd said that Startups can secure up to 10-million-naira a loan through the Bank of Industry, without collateral.

     

    Jay Alabraba, co-founder of Paga and an active angel investor, in his remarks during a fireside chat, advised startups to focus on solving real problems and they would always find support. He also said that Paga was very proud to sponsor #StartupSouth5 because of the importance of the project to the region and Nigeria as a whole.

     

    Reiterating Mr Yinka Ogunnubi’s call in an earlier keynote, Salami Abolore, the CEO of Riby – a Cobanking platform for cooperatives,  advised founders to explore Cooperative as an alternative source of funding stressing that there’s a lot of opportunity in the space that’s untapped.

    Read Also: Firm launches startup contest for students

     

    Also speaking, veteran Nollywood Actress Shan George urged Nigerians to believe in Nigerian doctors. She narrated how she went against popular advice and placed her fate in the hands of Nigerian doctors at Brain and Spine Surgery, Abuja during her bout with Lumbar Spondylosis.

     

    Dr Abiodun Ogubo, founder of Brain and Spine Surgery, Abuja and Dr Ubon Ekpene, Consultant Neurosurgeon, University of Uyo Teaching Hospital, in their separate speeches, lamented that Nigerians are making needless foreign medical trips (otherwise known as Medical tourism) for issues that can be handled by Nigerian Doctors in Nigeria.

     

    Other notable personalities that graced the event include Her Excellency, Barr (Mrs) Obioma Liyel Imoke, Wife of the Former Governor of Cross River State, veteran Cartoonist and Editor at BusinessDay – Mike Asuquo, Peace Anyiam-Osigwe – founder of Africa Film Academy and host of African Movie Awards – who spoke on “Unlocking the creative Goldmine in your Neighbourhood discussing opportunities in the movie and creative industry for young Nigerians in the region.

     

    Others are Engr. Edward Onwule Jnr., Senior Special Adviser to Abia State Governor on ICT, Ukinebo Dare, Senior Special Adviser to Edo State Governor on Job Creation, Chief Agu Ojukwu – CEO, Tiger Consulting, Chinenye Mba-Uzoukwu (who gave a keynote on Domesticating the Digital Economy), Mark Essien – Founder of Hotels.NG

     

    In a statement, Uche Aniche, the Convener of #StartupSouth called on founders in the region to see the Eleven States as their primary market noting that there are about 60 Million People. He opined that doing this will help them attract support to scale across Nigeria and ultimately, Africa and the World. He also called on State Governments in the region to embrace #StartupSouth Conference as a platform to engage not only the organised Private Sector but the youths to feel their pulse. He said that the next edition of #StartupSouth will hold in a City where the State Government is willing to partner with the project.

    The Conference saw a pitch by KR Foods – A palm oil processing startup led by Amajuoyi Ikechukwu Kingsley and GreenBox – a modular solar-inverter box for powering SMEs led by Innocent Unachukwu. KR Food won the Prize money of 150,000 Naira provided by Ibom LLC and currently undergoing talks with members of the SSE Angel Network for a possible investment. The two teams will benefit from WhogoHost’s hosting services as part of the Prize.

    The Conference was supported by Facebook, MainOne, Paga, Ventures Platform, Riby, Bank of Industry, Hotels.ng, Ibom Hotels & Golf Resort, Goge Africa, Yadel Communications, BellaNaija, ConnectNigeria, Signal Alliance, TechCircle and several others.

     

     

  • Ex-ComTech minister seeks more women tech founders

     

    Former Minister of Communications Technology Dr. Omobola Johnson has urged more action to get more women involved in founding technology companies.

     

    Mrs. Johnson, who is also a senior partner at TLcom Capital, a sub-Saharan Africa focused tech venture capital with offices in Lagos, Nairobi and London, spoke at the inaugural Africa Tech Female Founder Summit in Lagos.

     

    There has been an appreciable level of particpation of women in the tech space, adding, however, that it is still rare to find women at the founders’ club, she noted.

     

    Her words: “While female participation in tech has generally improved, female tech founders are still a rare breed. However, there are a growing number of female trailblazers in African tech and we at TLcom believe this is a critical network to nurture and support.”

     

    Also speaking on the occasion, Andreata Muforo, partner at TLcom, also said: “With our senior team currently 50per cent female, supporting diversity is already part of our DNA and with events such as the Africa Tech Female Founder Summit, our team does and will continue to dedicate resources to mentoring female founders.”

     

    The VC was launched to build a collaborative network of Africa’s female tech founders, over 50 female founders from across Africa including, Odunayo Eweniyi of Piggyvest, Isis Nyong’o of Mum’s Village, Vivien Nwakah of Medsaf and Miishe Addy of Jet Stream, took to the stage to share insights on achieving massive value generation and scale in Africa. Senior female executives from TLcom’s portfolio companies including Twiga Foods, Kobo360, Terragon, Andela, and Ajua were also in attendance.

    Read also: Experts mull Fintech to grow economy

     

    The keynote speaker for the Summit was the Chief Executive Officer, MainOne, Funke Opeke, who delivered a talk on her career journey.

     

    She said: “A clear message that should be taken away from the summit is that the glass ceiling on female leadership can and will be broken. For incoming and incumbent women in our sector, today is a powerful display of what is possible throughout Africa’s tech scene.”

     

    We had entrepreneurs from a variety of fields but what we all shared were common experiences and a shared vision for change.

     

    However, it is critical we take our learnings back into our respective networks and share them with the next generation. It’s only then that we will begin to see real transformation.”