Category: Small Business

Opportunik, a private wealth fund giving Africans and Diasporans access to global investments, is poised  to  launch its licensed fund.

Administered by Accuvise Administrators Limited, a registered fund administrator based in Mauritius, Opportunik Global Fund (OGF) will present a diverse mix of asset classes enabling investors to create wealth with minimal currency or political risk.

OGF was created to address African investors’ pain points, including high barriers to global deals, insufficient yield on smaller ticket sizes, ever-changing foreign exchange rates, and high inflation and taxation. Participants can be located anywhere, but must invest in the most traded currencies, such as the US Dollar.

 Chief Executive,  Opportunik Global Fund, Kola Oyeneyin, said: “We created Opportunik Global Fund to tackle the challenges many African investors face when looking for global investments.

As an African-born fund, we recognise that the continent is full of wealth opportunities; however, there is a need to empower rising middle-class Africans with a platform to enable them to access new markets beyond the continent’s borders.

“At OGF, we help Africans create wealth and achieve financial independence. We are doing so by connecting investors to a global fund at a low entry barrier and with a healthy return. As we onboard retail and institutional investors before our official launch in May, we look forward to bridging the current wealth inequality gap.”

Driven by an in-house team of fund managers located across Africa (South Africa, Nigeria, Kenya, and Zambia), OGF will work alongside Accuvise Administrators. With over $216m in Assets Under Administration, Accuvise has a proven track record of structuring and administrating investment funds.

Statistically, the wealth management market in Africa is estimated to grow by 60% in the next decade, driven by strong asset under management (AuM) growth in most major markets. This presents a good opportunity for middle-class Africans if given access to the same wealth management options made available to high-net-worth individuals.

Opportunik believes nothing should hold back the hardworking from achieving their financial dreams; this is why they have created Opportunik Global Fund (OGF) – a focused private wealth fund designed by Africans for Africans. With a starting capital of just $5,000, OGF provides USD investments to middle-class and mass-affluent Africans and Diasporans.

Licensed by the Cayman Islands, Opportunik carefully selects assets and maintains a dedicated team to deliver healthy returns. The fund is administered by Accuvise, a registered fund administrator with over $216 million in assets, ensuring OGF’s investors face minimal currency or political risks.

Entrepreneurship is flourishing among students of tertiary institutions. Many of them have established ventures that are providing income for them. LYDIA OLUWAGBOTEMI reports.

Many students have established profitable entrepreneurial ventures on campus which earn income for them.

One of them is God’s Own Catering and Services, which Chariot Ojewole started on campus.

Chariot is a graduate of Adeseun Ogundoyin Polytechnic, Eruwa, Ogun State. She ran a business on campus.

On how she got into the business, she said: “One day I thought about what could earn me something on campus. I was trained in catering. So, l started making snacks.” 

The business blossomed. It paid some of her bills. She said: “It helped me. I supported my parents in buying textbooks/handouts, and even feeding. I didn’t bother to call them for food stuff.”

She urged other students to hustle to supplement what they got from their parents. “It can help the students fend for themselves.  They would not depend on an aunty or uncle. No guy will harass you anyhow. Also, that will help them to depend on themselves.”

Miss Grace Oluwagbotemi is another student entrepreneur whose catering business is vibrant on campus.

A Mass Communications undergraduate, she works hard daily to come up with creative solutions. She is looking for a fresh perspective on how to do things better.

She said the business assisted her in many ways. Her words: “It pays a lot, and it also builds a person up when it comes to self esteem.”

Not only did she combine her education with research and business, but offering good food which makes her clients happy.

To reduce the unemployment rate, the government has embarked on a campaign to get more youths to embrace agribusiness as a career.
DANIEL ESSIET reports.

In those days, for youths (and even many adults), a career in farming was out of their consideration. But with the unemployment rate still rising, the government has found a way out: agro-business.

The government believes that youths trained in modern ways of farming could make a living in the sector.

The founder, Corporate Farmers International, Akin Alabi, affirmed that the lives of many youths in Lagos had changed after the intensive training they received in agriculture and its value chain. According to him, some of the trained youth have established profitable businesses in fishery, poultry and rice value chain.

Alabi said young people in Lagos found that farming is profitable.

The Lagos Commissioner of Agriculture, Ms. Abisola Olusanya, agreed. She, however, noted that most farmers and secondary schools pupils lacked the knowledge and access to modern farming technologies.

To achieve this, the state government exposed the pupils to new smart technologies.

For Ms Olusanya, technology would help many youths to see agribusiness as the path to success.

In line with this, the Lagos Ministry of Agriculture handed over three of its completed six Smart Aquaponics and Poultry System (SAP-Sys) units, and hardware components to some schools in Lagos.

The equipment were allocated under the Lagos Agricultural Scholars’ Programme (LASP), the Ministry’s school empowerment project. The schools included Lagos City Senior College, Sabo, Yaba; Omole Senior Grammar School, Omole Phase One, Ojodu and Igbobi College, Yaba.

The SAP-Sys units, which are solar-powered integrated farm technologies for aquaculture, hydroponics and poultry, were installed in four public secondary schools, one private secondary school and one correctional centre.

Ms. Olusanya said the government want schools to scale up farming, using new seed varieties, training and agriculture equipment, to increase fish, poultry and vegetable production and sales in the market.

She also said pupils would receive advice on modern farming practices such as tunnel farming and the use of high-quality seeds.

This, according to her, will help school farmers access new markets, and increase their income.

She reiterated that young farmers are the future of agriculture, urging the private sector to support them. The Commissioner said the next project is to encourage residents in Lagos to embark on mini-urban farms.

Co-founder, Agrisite, Oyewale Akintonde, said the facilities would assist youths to acquire agriculture-related skills.

Rise With Us, a unique programme that helps entrepreneurs and startups based in Israel, has entered the American healthcare market.

 Start-Up Nation Central, a non-profit that promotes Israeli innovation worldwide, is creating opportunity for companies  to connect with multinationals and relevant business opportunities abroad.

Chief Executive Assuta, Gidi Leshetz, said: “Assuta strives for excellent, professional, and humane medical care, and is a pioneer in implementation of advanced medical technologies. By developing our ties with industry and academia, as reflected in Rise With Us programme, we generate true value and assist our teams in providing top quality and innovative medical service for our patients.”

Head of Rise With Us, Assuta’s innovation arm, Dr. Michal Gindi: “Assuta sees great importance in collaborations with entrepreneurs and startups developing technological solutions that improve patient care and advance medical innovation. Assuta aims to assist them with adapting their technological developments to global market needs. Start-Up Nation Central’s partnership strengthens the program’s abilities and opens extensive international opportunities for participating companies.”

Start-Up Nation Central Chief Executive,  Avi Hasson, noted: “This partnership is part of our ongoing effort to develop health technologies in Israel, with an emphasis on international connections and exposure to strategic business opportunities.”

Rotary Club International District 9110 has been involved in various programmes to support Nigerians to venture into entrepreneurship. It has supported women’s entrepreneurship with financial literacy, small business loans, and one-on-one advisors.

This time, it is helping farmers and residents to plant hybrid coconut seeds that will bear fruit quicker and double yields. The aim is to help the nation retain its position as a leading producer of coconut in Africa.

For the Rotary Club of Eko Atlantic, empowerment through coconut farming, would contribute to a nation’s growth and economic health.   To this end, the club, in partnership with Lagos State Coconut Development Authority (LASCODA), has been distributing seedlings to eight coastal communities in Lagos, to boost productivity, increase diversification and income equality, and support economic resilience. 

During an event at the Lagos Free Zone, the President, Rotary Club of Eko Atlantic, Gboyega Bada, stressed the importance of growing coconut and the potential of grooming micro-entrepreneurs.

This, he believes, would help lift them and their families out of poverty. Bada  expressed the club’s support to the government’s move to boost the coconut industry. 

He said the club would encourage people to plant coconuts through seed assistance.

As part of its plan, the Lagos Commissioner for Agriculture, Ms Abisola Olusanya, represented by the Senior Special Assistant to Mr. Governor of Agriculture, Mr. Gbolabo Olaniwun, said the government was helping farmers plant coconut seeds to speed up fruit formation and double yields.

On behalf of the communities, Mr Tunde Olooto thanked the state and the club for the coconut seedlings.  

The high demand for chicken, meat and eggs drive the poultry business. But there has been a glut due to low purchasing power. The Lagos State Government and the private sector are supporting the industry to retain jobs and enhance profitability. DANIEL ESSIET reports.

Poultry business is gaining popularity in Lagos and across the country.

Managing Director, Taofeeq Adisa Farms, Taofeeq Adisa Bisiriyu, is among the farmers who are making a name for themselves in the sub-sector. He had wanted to be an entrepreneur. Therefore, after leaving paid employment, he saved enough money to set up a poultry farm. Raising chickens not only provided him with a source of income, but with protein-rich food.

Generally, poultry business grows on the back of rising purchasing power in the country and the corresponding change in food habits.This enables it to make money and sustain jobs. But, in the last two months, the sector has been experiencing egg glut following cash scarcity, causing buyers to dump it for other alternatives.

Among the major customers of eggs are the educational institutions, hoteliers and other food vendors. But the rising prices have made the demand for eggs to reduce drastically. One way some poultry farmers are surviving is  through the National Home-Grown School Feeding Programme (NHGSFP), which has  helped to revitalise the livestock sector as well as enhancing their income.

A lot of producers are engaged to supply eggs. This has helped spread wealth among members of the Poultry Association of Nigeria (PAN).

Livestock Feeds PLC would not be left out in any  programme that will boost entrepreneurship and to restore their livelihoods.The company has been involved in empowerment programmes to equip Nigerians with the basic skills, management techniques and agribusiness proficiency involved in rearing poultry. 

To save jobs and assist poultry farm businesses feeling a severe squeeze on margins, the company is working on a national programme  to get   producers  to supply  hospitals  with free eggs and  make profits.The plan is to ensure that businesses don’t close shop  as they face inflationary pressures from costs of energy, labour, and consumables.

Bisiriyu is one of the beneficiaries  of the programme. He has been smiling to the bank since the company engaged him to supply eggs to the Orile-Agege General Hospital in Agege.

The project combines entrepreneurship and eggs donation to supply the much-needed source of protein.

The Managing Director, Livestock Feeds PLC, Adegboyega Adedeji, was happy it brings joy to hearts through the partnership to make a difference.

Adedeji said the company will work with 500 farmers in Lagos to mop their eggs and pay them. 

The experiment, he explained, had begun with  Orile-Agege General Hospital in Agege where 250 farmers would be engaged to supply crates of eggs  weekly. 

Adedeji said the programme would be extended to hospitals in Epe, Badagry, Ikorodu and  Mainland.

He said the company has the resources, scientific and technological expertise, as well as proven implementation plans to enable farmers to reach productivity, and  engage in livelihood diversification activities to ensure an income.

The Managing Director/Chief Executive, Orile-Agege General Hospital, Dr Sola Pitan, acknowledged the benefits of supplying eggs to the hospital.

Securex West Africa is set  for its 11th exhibition in Victoria Island;Lagos where experts are expected to dissect insecurity issues, among others.

The keynote address will be delivered by the Director-General/Chief Executive Officer (DG/CEO), Nigerian Civil Aviation Authority (NCAA), Capt. Musa Shuaibu Nuhu, who will speak on the theme ‘National security – “Overview post-election, Safe city trends and future outlook’.

Other speakers are the Commandant-General, Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Abubakar Audi, and Director-General, Lagos State Safety Commission, Mr. Lanre Mojola.

They will dissect a range of issues which include the sub-themes, ‘Critical national infrastructure – Looking into the energy sector security, Oil and gas’ and ‘Information security – Focusing on cloud and cyber security requirements in the banking and financial sector’.

According to the organisers, no other platform offers opportunities to learn and see the latest technologies in the industry.

Organisers said the three-day, which holds from May 6, is being supported by the ASIS Lagos Chapter, International Institute of Professional Security, Nigerian Institute for Industrial Security, Institute of Workplace and Facilities Management and OSHAssociation, among others.

 Also, no fewer than 100 leading suppliers from around the world are showcasing their equipment at the event, it added.

 They include officials of Airtel, BAT, Chevron Nigeria, Federal Ministry, FirstBank of Nigeria, GSK, Julius Berger, Lagos State, MainOne, Nigerian Army, Oyo State, Promasidor Nigeria, Siemens and United States’ Embassy.

 Demonstrations of new technology will be showcased with Acronis International GmbH, Endeavour Africa Group, Kazih Kits, The Kernel and Satel taking the audience through their products and solutions on the Technical Workshop stage.

  Others are Bristol Fire Engineering LLC, IoT Africa Networks Limited, Kontz Group Limited, Net Global Systems, TAKEX Europe Limited and ZKTeco Biometrics Limited.

Chief Executive, Thoraw Control, Bamawo Osayande, an entrepreneur, is making a living from pest control and fumigation. DANIEL ESSIET reports.

Chief Executive, Thoraw control, Bamawo Osayande,  is a young entrepreneur to watch. He runs an integrated pest control management company.

  He provides ants and cockroaches, bed bugs, beehive removal, bird control, flies mosquitoes, ticks and mites, rodents, termites, weed control, as well as wood-borer treatment. He also offers janitorial, industrial cleaning service and facility management.

He was born into a lower-middle class family, but he has dreams that stretched beyond the limitations set by his socio-economic condition.

A Geography graduate, Osayande has always wanted to explore the rewarding field of entrepreneurship. 

His words: “I studied Geography and Regional Planning and majored in Environmental Science. So, I had always had a deep knowledge of pollution and its effect on the environment. Some years ago, we had a bedbug infestation and in the course of trying to eliminate it, we contacted different exterminators that couldn’t provide a solution. Few weeks later I enrolled into a pest control school and decided there and then to join the profession and contribute my quota to offer safe, non-toxic and ecofriendly solutions that won’t affect humans and its environment.”

  He started with N250, 000. Today, the business is self-sustaining. The secret of his success is hard work, driven by the philosophy to provide a high-level service at reasonable cost. This has helped him to maintain and expand its customer base. So far, turnover has been growing.

 Yearly, he sets growth targets that are achievable.Through sheer grit and determination, the company has excelled, securing contracts with hotel chains, resorts, banking, restaurant groups, government, garment industry, aviation, food industries, pharmaceuticals, commercial farms, poultry, bus industry, manufactures, mills, tourism industry, among others.

 At  present, the industry has been very challenging with new entrants coming in to provide pest control/fumigation/cleaning and sanitary hygiene and related services. He is one of the entrepreneurs inspired by the quote: “Things work out best for those who make the best of the way things work out.” He is a testimony to this quote with the way he has led his life.Though it has not been an easy journey, sheer grit and determination, he has been able to turn the tables in life. 

Like every business, the company has encountered a lot of challenges, from exorbitant prices of pest control machines to most customers wanting the fire-brigade approach to eliminate pests and after a while the pests return.  

  Prominently, he has had to confront cut-throat pricing and increase in overnight companies. But he has overcome some of them. His strategies are – building leadership skills, marketing prowess and acquiring innovative pest-control management solutions.

For him, pest control is a serious business with biosecurity concerns all around the world. He believes pest-control professionals have  a role to play in areas of civic health management and protecting foodgrain from rodents. He  sees  thousands of pests breed, eat and multiply at overwhelmingly alarming rates .To this end,he would like the  government, private and supporting agencies to support efforts to counter the problems.

He firmly believes in and follows the business mantra ‘Talk to Your Customers’ which proved to be the reason behind his big success. He has proved that determination and hard-work pays off.

His mantra is “ One should stay focused on the “why” and not the “what” of the purpose. It is “ the why “ that is the energy and guide to achieving the impossible.

His plan: “We hope to become the fastest-growing pest control company in Africa and infuse technologies such as AI-driven sensing technology, electronic monitoring,ultrasonic pest control and a host of other technologies before the end of the year. We are already working on our user-friendly app that will help our pest experts to proffer the best solution while monitoring any activity of pests and to make appointments easier.”

He is so grateful to those who sacrificed so much to provide for his education and encourage him to follow his dreams. Being able to do something for his loved ones at such a young age boosts his confidence.

He advised aspiring entrepreneurs to work on building a formidable network because their network is their net worth. They should also embrace feedback and learn from mistakes.”