Category: Small Business

  • Making a living from small scale shoe manufacturing

    Making a living from small scale shoe manufacturing

    Chief Executive, AB Leather Work, Abraham William, has blended his talent with hard work to attain his goal in business.

     He learnt the trade in 2002 in Akwa Ibom State and, thereafter, came to Lagos to set up a shoe-making shop. Though he started with  a small capital, the business has grown like an oak.

      His customers comprise mainly those from outside Lagos. many people come to him with their designs for production. William is particular about keeping his shoes in good shape. In his childhood days, he was reputed for paying attention to footwear, branded clothes, well-set hair and clean socks.

    A self-made industrialist, he would not settle for what comes his way, but rather he would keep trying until he is able to build something.

    Today, he runs a cottage shoe production firm. His endurance has paid  off as it has enabled him to get experience, knowledge and confidence, especially during difficult times.

    Though he had tough times during the initial days, he did swim the rough water and made his company’s brand a visible and sought-after. He said consistence is the rule of the game.

    The graduate of Business Administration said young people could acquire skills and contribute to the growth of the footwear and leather  industry. Regrettably, he said, unemployed youths, who could make a living from shoemaking, do not like learning the trade.

    Instead, they are going into ‘yahoo-yahoo’(Internet fraud). He however, counselled young people to explore opportunities in small scale shoe production.

    He  explained that the sector has a wide value chain which the young  can explore.

    He produces male and female  footwear. He is not deterred by the big names  such as Nike, Adidas, Puma, Reebok, that are producing leather shoes, sandals, chappals and uppers in medium to large-scale units using modern and state-of-the-art technology.

    He is  taking advantage of the changing lifestyles  of Nigerians   and projected domestic demand for footwear  to make money. 

    For William, the business environment has been tough for solo entrepreneurs.The other challenge is that the sector has matured from the level of manual footwear manufacturing methods to automated footwear manufacturing systems. 

     On the whole, he  sees the possibility of the government using the  leather industry as an engine for  growth if there is support for more young entrepreneurs to be involved  in bulk production  of leather shoes and uppers for men and women.

    William believes the footwear component industry has enormous opportunities for growth to cater to increasing production of footwear of various types, both for export and domestic market.

    To grow the industry, he said the youth need equipment, and technical knowhow. He said shoe producers needs finance to buy the input such as leather, trimming and cutting machines, which are expensive because they are imported.

  • Alibaba to support 100 African entrepreneurs with $1.5 grant

    Alibaba to support 100 African entrepreneurs with $1.5 grant

    Asia Business Group Alibaba is strengthening its efforts to groom more entrepreneurs from Africa.

    To this end, the firm has opened applications for its fifth  Africa’s Business Heroes(ABH) Prize competition.

    ABH is a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy to support entrepreneurs from 54 African countries.

     Over 10 years, ABH will recognise a total of 100 African entrepreneurs.

    “At ABH, we have long recognised the potential of entrepreneurs as engines of economic and social growth. We are encouraged to see that ABH has grown into a truly Pan-African initiative that is positively impacting the continent’s entrepreneurship landscape. We are extremely impressed with the increasing diversity of our Heroes and how they’ve been taking tangible steps to solve some of Africa’s most challenging issues, ” Head of Partnerships & Programmes of ABH, Zahra Baitie-Boateng said.

    At the grand finale later this year, the 10 finalists would present their businesses to a panel of legendary business people.

    Apart from grant, mentorship and networking opportunities, ABH creates a television show every year which follows the finalists of the previous year on their exciting journey to the Grand Finale, featuring their on-stage pitches as well as behind-the-scenes moments.

    Over 72,000 entrepreneurs have participated in the ABH Prize Competition.

    The 10 outstanding finalists for 2022  were chosen from over 21,000 applicants from 54 African countries, representing a broad spectrum of industries, including agriculture, consulting, energy environmental protection, healthcare, information and communication technology (ICT), and retail.

    The contest is Pan-African, inclusive, sector-agnostic and grassroots-oriented.

     Entrepreneurs in Africa, across every sector, gender and age group and society, are encouraged to submit their applications, in either English or French, for a chance to become one of the top 10 finalists to compete for a share of $1.5 million grant.

    Applications are open until May 12, this year, with the top 50 candidates announced in July, semi-finalists announced in August and the top 10 finalists unveiled in September.

  • ‘Real estate best place to invest’

    ‘Real estate best place to invest’

    Where is the safest sector to put one’s money in this era of economic instability? Real estate investor, says Sir Chigozie Okafor, founder, Dynatch Homes, property firm. JOSEPH ESHANOKPE reports.

    For a property investor, Sir Chigozie Chukwudi Okafor, the sector is the best destination to put one’s money.

    He said apart from the safety of the investment, one is sure to make a good profit on it.

    Okafor, who is the founder, Dynatech Homes is opening il Palazzi, a batch of 10 detached duplexes on three floors, Amuwo-Odofin, Lagos soon.

    According to Okafor, protecting wealth is a lot more difficult than building it. In times of uncertain financial realities like we faced last year, it is understandable that people would want to choose the safest places to keep their cash.

    “The real estate market in Nigeria, particularly Lagos, is a decent place to keep your money. It has become more attractive in recent years. Thanks to the economic shift.

    “This is one of the many commercial real estate projects sprouting across Nigeria and Africa. Given that the world is going through a recession that has been heralded by massive layoffs and unemployment, it may come as a surprise to outsiders that real estate is still going strong. For industry players and keen investors, this is, perhaps, one of the best times to invest their money in properties.”

    He recalled that the cryptocurrency market experienced what is, perhaps, an unprecedented failure this year. In addition to that, he said, several global giants like Meta and Twitter have laid off thousands of staff to stay afloat in the turbulence of this year’s socioeconomic realities.Yet, somehow, real estate in Nigeria continues to thrive.

     Okafor believes that many factors are responsible for this. “Location, Lagos, for instance, is a huge selling point. It makes more sense if a residential project is located in a gated, serene, peaceful and classy environment,” he said.

    For commercial projects, he said: “It could work in just about any part of Lagos. The busier the place, the higher the return on investment.  Again, there are rail lines under construction in Lagos. These attempts at decongesting traffic is  making the region more attractive to people.”

    Sources suggest the population of Lagos State is about 20 million, many of whom migrated from other parts and outside the country. They will need shelter and employment. They will also use the roads, malls, as well as public and private facilities, he added.

    Besides, the increase in population in other parts of Nigeria has led to a rise in the value of property: from empty low-lying lands to magnificent city skyscrapers. The housing problem is a major challenge. It is fair to say that when the tumultuous waves of recession have floored everything else, the real estate market, as always, will be and remain the last man standing.

  • Small Business Champions contest launched

    Small Business Champions contest launched

    The Informal Working Group on Micro, Small and Medium-sized Enterprises (MSMEs), International Chamber of Commerce (ICC) and International Trade Centre (ITC) have launched the Small Business Champions Initiative under the theme “Helping smallholder farmers go global.”

     Winners will be announced at a virtual event on MSMEs Day on June 27.

    The initiative is looking for proposals that will help smallholder farmers access international markets and supply chains. Proposals can be submitted by small businesses, industry associations, chambers of commerce, and non-governmental organisations (NGOs).

    The contest seeks to raise awareness among businesses and policymakers of the difficulties smallholder farmers encounter when it comes to international trade, highlight best practices, and support smallholder farmers’ participation in international trade to business innovation and resilience.

    The deadline for submitting proposals is May 5.

  • Nine innovators get £4m to curb waste

    Nine innovators get £4m to curb waste

    Nine projects from across sub-Saharan Africa have been named winners of the Afri-Plastics Challenge by the Government of Canada and Challenge Works.

     The winners included scale-ups providing new income streams to local families collecting recyclables and innovators converting plastic waste into affordable cooking gas. Biodegradable bioplastics made from invasive weeds growing in Lake Victoria, homeware products made from coconut fibre, and a diapers-on-demand service – making cloth nappies an easy option for new parents – also share in the prize.

     Projects that encourage fashion designers to make sustainable choices, virtual reality storytelling to influence behaviour change and a mobile app that awards cash incentives for recycling have also been successful. The winners included Chanja Datti (Nigeria) – awarded £750,000 – based in Abuja, which converts collected recyclable

    waste into commercially viable products. It collects, sorts and bails plastic before selling it on to manufacturers. £1 million has been awarded to Togo’s Green Industry Plast (GIP-TOGO) – a recycling business that helps households earn a living through waste plastic collection. GIP-T then sorts, shreds, cleansand bags the shredded plastic to be used again, including in ecological paving slabs.

    Kenya’s Chemolex has won £750,000 to scale production of Biopactic, a biodegradable alternative to plastic made from invasive water hyacinths that grow aggressively in Lake Victoria. The next generation material can replace single-use plastic in food and product packaging – not only reducing plastic pollution, but dealing with an invasive plant impacting Kenya’s marine ecosystem too. £500,000 was won by Mega Gas in Kenya which converts waste plastic into an affordable cooking gas for people living on less than US$1 a day.

    It uses a thermal cracking process that creates no emissions, residue or pollution to turn plastic pollution, such as polythene, into a fuel for rural families.

    businesses that are already doubling recycling rates thanks to the Afri-Plastics Challenge while providing new sources of income for families, pioneering companies converting invasive plants in Lake Victoria into biodegradable materials and businesses creating affordable cooking gas from trash.”

    Canada’s High Commissioner in Nairobi, Christopher Thornley,  said: “Plastic pollution is an issue that affects everyone. Plastics that make their way into the marine ecosystem are just as damaging whether they originated in Mombasa or Montreal, Lagos or London. The winners of the Afri-Plastics Challenge showed there is a way forward for establishing a successful circular economy for plastic waste, with innovations capable of changing how we all use and dispose of plastic – not only in Africabut around the world.”

    Launched in July 2021, the Afri-Plastics Challenge received 1,141 entries from innovators across sub-Saharan Africa. The 40 most promising teams were backed with an additional £4.8 million of seed funding, grants and support to develop solutions to increase plastic recycling rates, reduced volumes of plastic waste, and influence behaviour change ahead of today’s announcement.The successful innovations developed through the Afri-Plastics Challenge have paved the way to revolutionise Africa’s approach to reducing the reliance on plastic. They are also supporting the empowerment of women and girls by creating economic opportunities for women. 60 per cent of entries that made it to the final 40 were women-led.

    Other winners of the Afri-Plastic Challenge  were  EcoCoCo Homecare (Kenya) – awarded £250,000 – it has developed alternatives to plastic homeware products that use fibres from coconut husks left over from coconut oil production, including scouring pads, scrubbing brushes and brooms.

    Toto Safi (Rwanda) – awarded £100,000 – a diapers-on-demand service which makes sustainable cloth diapers a realistic alternative to single-use plastic-based nappies. Throughits app, parents can order clean and sterilised nappies at an affordable cost, while used nappies are taken away to be cleaned . Catharina Natang (Cameroon) – awarded £250,000 – training fashion designers in Africa to make sustainable choices in the textiles they use and understand plant-based alternatives to polymer-based materials. Ukwenza VR (Kenya) – awarded £250,000 – uses virtual reality to explain the journey of a piece of plastic after it is dumped, including the damage it does to local environments, to persuade people to make different choices around plastic consumption and disposal. Baus Taka Enterprise (Kenya) – awarded £250,000 – developed a mobile app to encourage people to segregate their plastic waste – through competitions it offers cash rewards and points that can be redeemed for medical services in partnership with health clinics.

  • Changing narrative in aviation entrepreneurship

    Changing narrative in aviation entrepreneurship

    As Nigeria explores new frontiers in aviation business, the demand for solutions is increasing. Co-founder and Managing Director, Leading-Edge Aviation Services Limited, Victor Mgbachi is taking advantage of challenges in the industry to develop solutions to reduce costs and improve performance. This has enabled new opportunities in commerce, helping operators to optimise their operations and increase efficiency, DANIEL ESSIET reports.

    To the co-founder and Managing Director of Leading-Edge Aviation Services Limited, Victor Mgbachi, one key to success in business is: keeping the network of business contacts.

     His success story is a testament to his domain expertise, hard work, and hustle towards building an unparalleled, cost-efficient big box supply chain network. According to the entrepreneur, the organisation came into existence in 2021, with a vision to change the narrative of operations within the aviation sector. The venture has been a success. He has continued to explore business opportunities and acquire knowledge with other business owners.

    His objective has been to promote local aviation, and to level up Nigeria tourism to world-class standards. For him, the country’s potential is very underrated. As an enhancement, he has set his sights on local and foreign markets.

    To achieve the agenda, the aviation entrepreneur recognises the importance of human resources. In fact, he is investing in a series of training, as well as continuous hiring of highly skilled hands. He listed a few, such as MBA in Human Resource, Diploma in Aviation Studies (IATA), Certified Business Analyst Professional (CBAP®) and a member of the National Business Aviation Association (NBAA).

    At a time multiple bottlenecks have disrupted supply chains, he has brought great control on operating costs and efficiencies through a grasp over various parts of  the value chain. One of his staying factors is the readiness to take on more challenges.

    According to him, the resolve is to strive harder on making timely deliveries and provide quality experiences.

     Interestingly, the brand won the best charter flight awards at the Nigeria Aviation Awards recently.

    This year is another one to strive hard and he is determined to make the best out of it. He continues to think positively about the year. Even with the recent unfavourable events, he is not discouraged.

    Explaining how the economy has impacted his business growth, the expert stated: “Economic setbacks are like hurdles to overcome in every nation and the aviation sector is not exempted, basically where there’s little or no intervention from the government. However, as an entrepreneur and a start-up expert, what we did was to critically analyse the hurdles in strengths, weaknesses, opportunities, and threats (SWOT) and then push on the lines of the dormant strength and opportunities, to override the weaknesses and threats in order to serve the industry with the highest level of professionalism without losses.

    “So, regardless of what the economy has to offer and if Nigerians are transported from one location to the other, we will always navigate our standard of service to offer the best and to make the most of every situation per time – summed in one-word excellence.

    “In his final word to stakeholders in the industry, the expert said: Safety, diligence, and professionalism are core values that must not be compromised. We cannot afford to become complacent and overlook any aspect of a flight process (on ground or in-flight) like we say in the industry, “when you see something, you say something”.

    “Safety is the highest priority of all involved in aviation. The shared goal is for every flight to professionally manage the airplane during ground services, take-off, landing, and offload efficiently, as happens more than 130,000 times globally every day. Given that it is impossible to work in isolation in the industry, every stakeholder in the flight process is expected to make a good and safety conscious decision for a seamless operation,” he pointed out.

  • Connect2Innovate conference for Bahrain

    Connect2Innovate conference for Bahrain

    Israel’s Start-Up Nation Central, a non-profit organisation, has announced that it will hold the first conference for business leaders.

     The Connect2Innovate conference holds in Manama, Bahrain, the first-of-its-kind event, will take place between March 13 and 15.

    It is bringing more than 50 Israelis, including senior government officials, business executives, entrepreneurs, and investors, to Bahrain.

    Start-Up Nation Central Chief  Executive Officer, Avi Hasson said: “Over the past two decades, Bahrain has emerged as an important player on the international stage, with a growing economy that offers exciting investment opportunities.”

     Hasson added: “Innovation and technology are essential elements in this partnership and can help translate the agreements into practical bilateral trade that can revolutionize the entire region as it tries to align to new development goals.”

    Ambassador Eitan Na’eh, Ambassador of Israel to the Kingdom of Bahrain, said: “The Connect-2Innovate conference is taking place in Manama as both Israel and the Kingdom of Bahrain are moving forward to realise the vision of the Abraham Accords and the opportunities it offers us all as it strives to reach its fullest potential.” 

  • 15 startups for finals in Morocco

    15 startups for finals in Morocco

    Fifteen semi-finalists have been chosen for the Aviram Awards, a competition that supports young entrepreneurs in the Middle East and North Africa (MENA) region.

    Launched by American business magazine Forbes and the Israel-based Aviram Foundation, the competition’s final will take place in Marrakech, Morocco in May.

    The semi-finalists include Haitham Riahi from the UAE, Aberer Alotibi from Jordan, and Saudi Arabia’s Noor Zaourii and Majed Mashrawi. In the list is  Morocco-based CEO and founder of Deepecho,Youssef Bouyakhf. 

     Chairman and founder, Agua de Sol Philippe Dekoninck is  representing Morocco at the competition’s semi-finalists. His startup uses adsorption technology to turn moisture into fresh water, using solar heat.

    Founder and President, Aviram Foundation Ziv Aviram celebrated the “significant increase in participants this year, with more startups, coming from a long list of MENA countries.”

    As part of the semi-final phase, the competition provides the 15 startups with “practical tools” that will benefit them in their “professional and entrepreneurial future,” beyond the context of the Aviram Awards, the Israeli businessman said.

    “We are looking forward for our 5 finalists to arrive in Morocco, creating new opportunities and bridges for the State of Israel and the entire region,” Aviram added.

    The Aviram Awards have appointed five ‘talented’ mentors with extensive experience in entrepreneurship to share their knowledge and expertise with the participants.

  • Honing artisans’ skills

    Honing artisans’ skills

    Artisans’ training is a priority for many state governments. Lagos has been amplifying it with a burst of energy over the last few years. So far, no fewer than 5000 tradesmen and artisans have been retrained to address skill shortage and high youth unemployment. DANIEL ESSIET reports.

    Increased industrial activities have resulted in increased demand for qualified artisans and tradesmen. Consequently, governments at various levels are driving initiatives to build frameworks to develop a new class of artisans with skills needed to work in the areas where demand is particularly high.

    In line with this, vocational education and training in the skilled trades has been elevated as a key factor in long-term development in Lagos. Artisan training is being restructured to meet changing market needs. Many innovations have emerged as well as new training models.

    To this end, the state Ministry of Wealth Creation and Employment and the Lagos State Technical and Vocational Educational Board (LASTVEB), under the Capability Building initiative of the Lagos State Tradesmen and Artisans Empowerment Programme(LASTAEP), are driving  fundamental rethink of the skills development with the objective of achieving a common standard across sectors for artisan development.

    Against this background, the state Deputy Governor, Dr Kadri Obafemi Hamzat, said the government is determined to provide opportunities for artisans.

    He said the government was pursuing a reskilling programme to unveil future artisans.

    He noted that the informal sector is an integral part of the economy, contributing more than 72 per cent to the Gross Domestic Product (GDP).

    For the economy to grow, he stressed that the quality of artisan training would require further enhancements.

    His words: “We have provided three hectares of land at Ganyinbo Private Development  Scheme in Badagry for LASOTA ‘s secretariat.”

    Underlining the importance of small and medium-sized enterprises in development, he said supporting tradesmen and craftsmen during the currency swap was critical and the government.

    The Deputy Governor acknowledged that the potential of the sector such as creativity, entrepreneurship development, wealth creation, value addition and employment generation are too important to be ignored by any government, hence the administration would continue to create platforms for artisans to thrive by focusing on the development of complementary infrastructure to improve competitiveness and productivity.

    An element of the training programmes, according to the Commissioner for Wealth Creation and Employment, Mrs Yetunde Arobieke, is to ensure that artisans with a solid technical foundation are given a toolkit to prepare them for their businesses. She announced that the industrial leather hub under construction at Matori, Mushin would be inaugurated this year.

    Mrs. Arobieke said the training of 1,700 tradesmen and artisans this year was a  demonstration of the government’s commitment to the empowerment of residents.

    According to her, the upskilling programme was developed to equip the members of the informal sector towards becoming 21st century artisans and tradesmen in line with the T.H.E.M.E.S. Agenda.

    The programme, according to her, broadened the scope of the participants as it was designed to impact positively on their skill set. She admonished the trainees to put it to good use and to train others.

    Executive Secretary,LASTVEB, Ms Ronke Azeez reiterated that the state government was engaged in enhancing the artisan training system to be responsive and demand-led.

    She said tradesmen and artisans stand a better chance after completing an eight-week intensive training and re-skilling programme.

    She said the objective of the government was to have competent artisans who could handle tasks that would be of world standards.

    The Head, Entrepreneurship Department, Ministry of Wealth Creation and Employment, Mrs Taiwo Abiose, expressed delight with the quality of the training,adding that it has provided the beneficiaries with livelihood skills.

    The best graduating trademan at the Ikorodu Centre and member Lagos State Central Sand & Granite Suppliers Association, Mr Adegboyega Adele, thanked the government for the gesture.

  • Foundation empowers 50

    Foundation empowers 50

    No fewer than 50 petty traders and other small scale businessmen and women have benefited from the Bola Oyebade Foundation (BoF)’s empowerment programme since its inauguration in 2017.

    The founder, Mr. Bola Oyebade, stated this at the fifth lecture/empowerment programme of the body in Ikeja, Lagos.

    He said the beneficiaries, a “mix of genders”, received sewing machines, commercial umbrellas, clippers and cash, among others, to support either their businesses or apprenticeship.

    This year, Oyebade said, five Nigerians benefited from their programme. He enjoined them to use the gifts judiciciouly and be good ambassadors of the group like their predecessors.

     Oyebade scored the government’s empowerment programmes high. He noted that in the face of financial constraints, it is doing its best. He urged Nigerians and organisations to support the government.

    Waxing religious, Oyebade said: “For as many that can give, let them do so. All we have belongs to God and to him we shall return.”

    BOF’s Trustee/Programme Coordinator, Mr Ayokunle Ayinde, said besides donations, the foundation had also trained people in agriculture, especially snail farming. He said they were partnering Ikeja Chamber of Commerce, Industry, and Agriculture to put farmers in clusters for garri processing

    The guest speaker, Mr. Awal Ezekiel of the Ikeja Chamber of Commerce, Industry and Agriculture, urged Nigerians to have multiple streams of income.

    Specifically, he advised them to invest in agriculture and that his organisation was ready to help them with the implementation. To excel in business, ‘’it is not about ideas  but the information that you have that matters”, he counselled. He added that the Chamber would provide them with the needed information to enable their businesses to blossom.