Tag: Business

  • Access Bank chair to speak at business forum

    Access Bank chair to speak at business forum

    Professionals and entrepreneurs will meet next Wednesday at Oriental Hotel to discuss  ways to improve the economy through business opportunities and networking.

    MoveBackToNigeria (MBTN) and Young African MBAs (YAM) are organizing the event that will afford young entrepreneurs within the country and from the Diaspora an opportunity to meet investors and business development professionals, with the aim of improving businesses.

    Chairman, Access Bank, Mrs Mosun Belo-Olusoga,  will deliver a keynote address at the business forum, after which there would be a panel discussion featuring successful entrepreneurs, including the Chief Executive Officer (CEO), Agrolay Ventures, Ada Osakwe, CEO of Okadabooks.com, Okechukwu Ofili, Managing Director of Hotels.ng, Mark Essien, and CEO of TalentMine, Dr. Femi Kuti.

    The event, which is billed to start at 5:30pm, would also feature an award ceremony to honour personalities who featured in MBTN weekly interviews.

    According to the organisers, the gathering would enable participants and guests to network and interact on business ideas.

  • Private sector expands as business environment improves

    The maiden reading of the Stanbic IBTC Nigeria Purchasing Managers Index (PMI), which has been officially adopted as Nigeria’s private sector gauge, indicated that private sector expansion increased and there were modest improvements in business conditions in November.

    At 53.9, the maiden reading of the Stanbic IBTC Nigeria PMI suggested that private sector expansion gathered speed in November, while signalling modest improvements in business conditions. The PMI will subsequently be published on the third working day of each month.

    The National Bureau of Statistics (NBS) earlier this month adopted the Stanbic IBTC Nigeria Purchasing Manager Index (PMI) as its private sector-based index for the country.

    Statistician General of the Federation and Director-General, National Bureau of Statistics (NBS), Dr. Yemi Kale, who disclosed this, said the bureau decided to adopt the PMI because it was confident that it meets global standards of measurement. The index, which was compiled by Markit, was launched last week.

    “We looked at the methodology, asked questions and we are extremely happy with the PMI. And to show the extent to which we are happy with it, we have officially adopted the Stanbic IBTC Nigeria PMI as government’s PMI,” Kale said.

    The index, according to Stanbic IBTC, will reflect figures derived from the survey of the business landscape. The index, among other things, will measure private sector operating status and thereby provide an early indication of business conditions in the country. It is a composite index, calculated as a weighted average of five individual sub-components including: new orders, 30 per cent; output, 25 per cent; employment, 20 per cent; suppliers’ delivery times, 15 per cent and stocks of purchases, 10 per cent.

     

     

  • Olam diversifies into animal feed business

    Olam International Limited has announced that its grains platform plans to expand into animal feed and related businesses in Nigeria.

    According to its Head, Corporate and Government Relations, Ade Adefeko, the expansion involves investments in setting up poultry and fish feed mills as well as hatcheries to produce day-old-chicks. “These investments are consistent with Olam’s strategy to selectively invest in prioritised platforms, which includes the grains platform,” he said.

    He further highlighted that “the global animal feed industry is a large and growing part of the agri-commodity complex with attractive returns and a strong growth outlook, particularly in emerging markets’’.

    He said after a detailed study of the sector, the company has chosen Nigeria as its preferred entry market as it ranks favourably on the country selection criteria, which include meat consumption per capita, degree of fragmentation, extent of vertical integration and of commercial feed penetration, scalability potential as well as supply and demand factors impacting the feed raw material trade.

    On the firm’s focus on the Nigerian market, he said: “In Nigeria, increasing urbanisation and a change in consumer preference towards more protein-rich diets is driving a strong demand for poultry and aquaculture products and the commercial feed market is expected to grow at over 10 per cent Compound Annual Growth Rate (CAGR) over the next five years.”

    The investment is expected to build on Olam’s existing strengths in origination, which in the words of Adefeko “include extracting raw material cost efficiencies, sharing of port infrastructure, sourcing arbitrage, trading, ocean freight and risk management. The company has deep expertise and execution capabilities in Nigeria where it has been successful in executing cost-competitive projects, both brown field and green field, and operating them at world class efficiency levels. For example, Olam has a profitable and growing wheat milling business.”

    Olam will leverage its local procurement network to source a majority of other inputs required for producing poultry and fish feed. This will reduce import dependence, benefit local farming communities and generate youth employment, which are key priorities for the Nigerian economy today.

    There is optimism that the investment will also contribute to the development of the Nigerian poultry and aquaculture sectors by providing competitively priced inputs and technical support to local poultry and fish farmers, thereby improving productivity and returns for the sector.

  • Business Impact boss inspires entrepreneurs

    The Chief Executive, Business Impact Limited, Mr.  Olatunde Samson, said his organisation has made it a priority to help inspire and support budding entrepreneurs.

    He was addressing an online marketing conference organisation by his organisation in Lagos.

    The conference was aimed at educating  companies  about  how digital technology can improve their businesses, in particular, how new applications and technologies can help them operate more competitively, manage costs more effectively and grow more quickly.

    The event aimed to provide businesses with the knowledge they need to use technology for digital marketing, improved productivity, and implementation of flexible working arrangements or better customer service.

    He also spoke about how businesses are  involved in social networks, and how they need entrepreneurs to help them enhance content and get more customers for products and services in the web.

    According to him,  Small and medium sized businesses need to  learn how to use technology to make their businesses more competitive in a digital age, promising support  to help businesses explore the opportunities that digital technology have presented.

     

  • Building a profitable business

    A  Calabar-based entrepreneur, Rosemary Orok Oyo, followed her childhood dream of doing something on her own. She started her company. She shares her experience of dealing with challenges and pursuing a long-term vision. DANIEL ESSIET reports.

    Rosemary Orok Oyo is among the most promising business women this year. She has  turned her love for popcorns into a successful business. But its tryst with entrepreneurship started at a  very young age as  family members  were fashion entrepreneurs.She later attended Federal Government Girls College, Calabar.

    She  got admission  to study  Environmental Education at  the University of Calabar . She started fashion retail business while still in the university. She later  graduated with a BSc Environmental Education, specialising  in tourism and eco-management.  After graduation in 2009, she didn’t bother  to search for a job because it was actually a family business. Three years after, she took over the business and did some renovations to attract more customers.

    In October last year, she enrolled at the Central Bank of Nigeria (CBN) Southsouth Entrepreneurship Centre, Calabar.

    There, she realised   that there is a difference between a trained and uninformed  entrepreneur.

    On graduation from the entrepreneurship programme, she  was inspired  to expand her  fashion retail business into maternity and kiddies outfit .

    Consequently, she did her business registration and changed the name of the business from Cita Exclusive Outfit to Teddies World.

    Early this year, specifically in January, she employed a new sales representative who exposed her to the untapped fortunes in popcorn business.

    She said: “I took out some time to pray about it and I had the leading to start the business with a different concept. That was how Teddies Popcorn started.  She started the popcorn business with just N80, 000 and three months after, she got a seed fund from the south south entrepreneurship center.  She has been running the fashion retail business for seven years now, but the popcorn business which is nine months old is making more waves more than the fashion retail business. Chocolate popcorn is her flagship product. Right now, the buzz is about Teddies popcorn. She began coming up with formulations. They produce up to 10 varieties of popcorn.

    On the worth of the business now, she testified: “You wouldn’t believe the worth of the business now but I’ll say it’s quite impressive and our turnover in nine months is in six zeros and still counting.”

    Her popcorn is a brand in Calabar, Cross River State. Her exposure has helped her to explore spices, nuts, cheeses and other whole ingredients that are a wonderful compliment to popcorn. But expected, new popcorn entrepreneurs are emerging, making new investments. To stand out, she is determined to create better-tasting, healthier flavoured popcorn. Consumers are happily buying them, because the love for the snack seems inexhaustible.

    One thing that has stood in her favour is the constant and unwavering support of her family,  friends and customers who believe in her  and the products.

    Between  producing popcorn, and raising kids, every day presents a new challenge. In addition to managing the brand and overseeing marketing, she spends a lot of her time raising the kids and trying to spend quality time with the family. She has now five members of  staff and will still recruit more before the end of the year.

    One of the problems she had when she started was insufficient funds to expand her business and her  second problem was human resource. She related a pathetic experience: “Last year just before the general election campaign started, the economy nosedived in Cross River State. Businesses couldn’t survive and some were struggling to stand.  I took a loan from the bank. It was the biggest mistake I made. Early this year because of the high exchange rate, prices of goods were high and customers couldn’t really shop and that really affected my business. I saw failure staring at me but despite all odds I was able to pay back that loan from our popcorn sales and both businesses are doing well today regardless of the economic situation.”I’ve learnt not to invest or take loan when there is economic crisis in the country,” she added. She is proud of what she has accomplished so far. Teddies popcorn was among the top 50 most innovative businesses by Etisalat EasyBusiness Millionaire Hunt Programme season 2.

  • Mining: no longer business as usual, says Fayemi

    Solid Mineral Development Kayode Fayemi has vowed to step on toes in the process of repositioning the sector. The government, he said, would demand compliance with regulatory framework by local and foreign investors and excellent work ethics.

    He said the sector would be better funded in order to achieve President Muhammadu Buhari’s vision of using it to diversify the economy and create jobs.

    Fayemi spoke in Kaduna during his working visits to the National Steel Raw Materials Exploration Agency (NSRMEA) and the Nigeria Geological Survey Agency (NGSA).

    Fayemi said: “The President’s mandate is clear- to make  solid minerals an alternative source of revenue and for employment generation. We must achieve these set goals. We will support you- the workers and all the agencies under the ministry, but we shall hold you accountable for every penny.

    “The President has sent us (the minister and the minister of state) to deliver on his mandate; we will do it without minding whose ox is gored.”

    Fayemi said the ministry would support artisans and those categorised as “illegal miners” and regulate their activities.

    He challenged  institutions and agencies under the ministry to be alive to their responsibilities of providing technical support to the sector.

    Fayemi said there was need for a review of  activities of the ministry through self-audit to determine whether they are still in tune with present reality.

    “The critical questions you must ask yourselves now is how do you fit into the agenda. Should it be business as usual or should we explore other creative ways of doing it”, the minister added.

    Fayemi, accompanied by the Mnister of State, Abubakar Bwari, and the Permanent Secretary, Mr Istifanus Fuktur, had earlier visited the National Metallurgical Development Centre and the Nigeria Institute of Mining and Geosciences, Jos to assess their facilities.

  • LG Electronics: looking beyond business, impacting lives

    LG Electronics: looking beyond business, impacting lives

    Many businesses pursue corporate social responsibility (CSR) that can best be termed pet projects. One big company that has made a bold move to improve the condition of its host community is LG Electronics, writes TONIA ‘DIYAN. 

    LG Electronics is  a global leader and technology innovator in consumer electronics, mobile communications and home appliances. It is also one of  the worlds’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators.

    Apart from  vigoriously engaging in commercial activities, it is also involved in corporate social responsibility in its host communities to make life worth living. Some critics  may have argued that the practice of Corporate Social Responsibility (CSR) by some organisations is one that primarily seeks to promote the interest of the business rather than their host communities, companies.  Companies such as LG Electronics have sincerely put into consideration the developmental needs of the communities in which they operate and have taken concrete steps to address those needs. Such organisations go beyond the primary objective of making profits for their shareholders to build capacity for sustainable livelihoods in the communities.

    They respect cultural differences and find business opportunities in building the skills of employees and that of their host communities.  For such organisations, addressing the developmental challenges of their host communities is equivalent to sustainable business.

     The technological revolution of the past 150 years has given people around the world easy access to everything from smartphones to life-saving medical devices. Despite the progress that has accompanied futuristic technology to so many homes, technological revolution has had a negative impact on the environment; our emerging markets still lag far behind their developed peers.

    As a leading business in Korea and around the world, LG Electronics has long been dedicated to using its influence to bring attention to most pressing issues, particularly those that require global response. LG strives to contribute to inclusive growth and sustainable development everywhere that it does business. To realise its lofty goals, the company has invested in a number of corporate social responsibilities (CSR) activities, especially in efforts to protect the environment and expand access to education by leveraging the core strengths of its business model.

    In line with its drive to contribute to raising the standard of education in Nigeria, LG Electronics recently opened a Commercial Air Conditioning Academy and awarded scholarships to 10 meritorious students of the faculty of Engineering of the University of Lagos (UNILAG). With the aim of enabling the students have up-to-date skills and training in commercial air conditioning. It has also provided Engineering students of the university  with necessary skills and training .

    In order to effectively respond to global issues, the company abides by three principles, which govern the operations of its corporate social responsibility initiatives. First, it strives to gain consumer trust and encourage stakeholder participation through CSR programmes that are specifically designed to address the specific local issues that are important in each market. Second, the company expands the impact and range of its contributions by utilising its unique products and technologies. Third, it seeks to engage communities and bring about change at the local level by promoting employee participation through the donation of time, talent, and money.

    Yearly, LG electronics performs a thorough research to know the impact of its CSR initiatives on its business operations and the society at large. Based on these results, it continuously search for innovative ways in which it can effectively improve on the company’s core competences and strengths.

    Throughout 2014, LG Electronics engaged in a wide range of initiatives designed to give back to communities where it operates. The company made a total of South Koprean Won Rates (KRW) 10.4 billion in philanthropic donations and earmarked approximately KRW 79.5 billion for CSR programmes. Charitable donations accounted for 11per cent of LG’s domestic philanthropic activities in the same year, while CSR programmes that were integrated closely with business projects made up 12 per cent. Community investment made up the remaining 77per cent. When broken down by development targets, 44 per cent of LG’s contributions were directed towards environmental protection, 19 percent towards supporting cultural programmes, and 16 per cent towards poverty eradication.

    Also in 2014, an incredible 71 percent of the company’s overseas spending on social contribution programmes was directed towards CSR marketing. A bulk of this spending (61%) was allocated to local cultural programs. The company’s renewed focus on CSR activities over donations resulted in a worldwide net employee participation increase of 80,000 (out of 220,000 total employees).

    The scholarship scheme, which is in its third year, is conducted annually by LG as part of its CSR activities with the sole aim of empowering young people as well as developing the educational sector, ensuring that youths who are the future leaders are adequately empowered with the required funds and assistance to enable them achieve their dreams and aspirations.

    Speaking at the opening ceremony of the Academy, Managing Director, LG Electronics West Africa operations, Mr. Seonghak Kim said: “As a socially responsible and purpose driven organisation, LG Electronics believes that in order to get the best out of students, the right learning environment ought to be created, which is what informed the establishment of the LG Commercial Air Conditioning Academy in the University of Lagos.

    Indeed, we believe this will go a long way to boost the intellectual and technical capabilities of the students.

    “This scholarship is being awarded to 10 students of 400 and 500 levels from the Faculty of Engineering who emerged as best students after a careful selection by both the university authority and LG Electronics based on their Grade Points of 4.0 to 5.0, which made them stand out from their colleagues.”

    Also speaking at the occasion, the Vice Chancellor, University of Lagos, Professor Rahamon Bello said: “on behalf of the University of Lagos, we are highly appreciative of this gesture from the people at LG Electronics- for counting us worthy to be the site for this iconic academy.’’

  • AT AFRIFF, FILMMAKERS  EXPLORE AFRICAN  CINEMA BUSINESS

    AT AFRIFF, FILMMAKERS EXPLORE AFRICAN CINEMA BUSINESS

    FOR nearly two hours last Tuesday, filmmakers from different African countries and the Diaspora gathered in Lagos, where they jaw-jawed on cinema business in Africa. The event, African Cinema Business Symposium, which was organised by the African Film Consortium (AFC) and Africa International Film Festival, held at the Silverbird Galleria. It was part of activities for the fifth edition of AFRIFF which is holding in Lagos from November 8 to 15.

    Delivering the keynote address on the topic, Strategic Thinking for Developing Values of African Cinema was Professor Hyginus Ekwuazi of the University of Ibadan. The highly respected academic who was also founding director, National Film Institute, Jos and former Managing Director of the Nigeria Film Corporation, went through the creative process of filmmaking, and various details needed to achieve success at it.

    Highlighting the challenges which confronts the cinemas as a business in Africa, Ekwuazi blamed the discordant state of Nollywood on the absence of the national film policies. He also summed that the absence of appropriate structure are stifling to the cinema. And, in a bizarre twist, Ekwuazi, a professor of film studies said ‘piracy is the future,’ quoting his friend, saying the pirates would always copy.

    “But in nowhere is piracy more the future than within the context of African cinema,” he said.

    “If you release straight to the theatre, it will only cause piracy, it will not eliminate it. But if you do it the other way  DVD – For every one video legitimately sold in Nollywood, there are nine spawned illegally. But what this means indirectly is that 90 per cent of industry earnings are controlled by the pirates. The point here is piracy becomes endemic.”

    Earlier, he had described films as highly perishable goods and filmmakers must be aware of that.

    “If the film is not consumed immediately, if doesn’t earn value immediately, then that film is useless,” Ekwuazi said.

    He also went on to say that the culture sector is insignificant in many parts of Africa.

    “In most African countries and certainly in my own country, cinema is only beginning to become significant with the banks,” said Ekwuazi.

    “It is not a bankable thing. It is not aligned with the larger industrial sub-sector. It’s beginning to be but it’s really not.”

    Mahmood Ali-Balogun, chairman of Audio Visual Rights Society of Nigeria, who moderated the panel, said that governments of African countries must help grow the cinema business to avoid the overbearing of foreign movies.

    Ali-Balogun said governments of European countries like Italy, Germany, France had to intervene to in their respective film industries “to avoid the overbearing of Hollywood as a result of American government pushing their products to the rest of the world.”

    The other discussants were Ishmael Ntihabose, president of Rwandan Film Federation, Jackie Motsepe, the chief operating officer of the Kwazulu Natal Commission, South Africa and Zik Zulu-Okafor, president of the Association of Movie Producers (Nigeria)

    While both Motsepe and Ntihabose highlighted on government interventions in their various countries, in Zulu’s estimation, the Nigerian government has not ‘done anything.’

    “When a new government was formed in 1994, the culture was a very important part of the government,” said Motsepe.

    “And film was then seen as an important industry to develop from a cultural point of view.”

    She said that this government intervention saw the development and growth of the South African film industry through intervention such as training and providing film funds for filmmakers. Motsepe also said that in 2006, the South African department of trade and industry came up with giving rebates to both local and foreign filmmakers.

    Ntihabose, who was in Nigeria for the first time, praised Nollywood for its growth so far, saying Rwanda’s film industry is still in its teething stage. He said Nollywood is very popular in Rwanda and Rwandans pay as much as two US dollars for Nollywood movies. Ntihabose also said it was imperative that African governments be a part of the film industry just as African filmmakers must promote their cultures and historical backgrounds.

    Deriding the use of excessive foreign glamour in some African movies, Ntihabose said filmmakers should look inwards in their productions.

    “History and culture is worth more than gold to us,” he said, imploring filmmakers present to tell more African stories.

    On his approach to getting government to be involved in filmmaking, Ntihabose said: “If government doesn’t come into the industry, they will lose popularity. And they will lose the culture implementation and the history.”

    Zulu on his part, started by saluting the heroes of Nigerian film industry such as Ade Love, Hubert Ogunde, Duru Ladipo and Eddie Ugbomah.

    “From nothing, we have been able to bring Nollywood to an industry that is worth five billion dollars,” he said. “But I want to get something clear. You know that today, through the streaming, Nollywood would yield 1.25trillion. Government has not done anything till we got to this point. So, what can they do for us now?”

    He advised that government should look at the potential of Nollywood and invest in it.

    In attendance were AFRIFF delegates and attendees from 35 African countries and 25 non-African countries some of them include Keith Shiri, Victor Okhai, Dapo Oshiyemi, Dayo Balogun, Funlola Aofiyebi, Shaibu Husseini, and Kunle Afolayan.

    According to the president of Pan-African Film Consortium, Mykel Parish Ajaere, the session is to position filmmakers for the next level.

  • Bol, AfDB partner to support export business

    Bol, AfDB partner to support export business

    The Bank of Industry (Bol) is partnering the African Development Bank (AfDB) to assist businesses engaged in export trade.

    Bol Executive Director, Small and Medium Enterprise (SME), Mr. Waheed Olagunju, made this known at the ongoing Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI).

    The fair theme is Enhancing Value Addition in the Non-oil economy.

    Olagunju said the theme is very apt as the nation needs to diversify the oil-dependent economy, especially now that income from the sector has dimmed. He said the bank is scouting for consultants to help SMEs write bankable proposals to enable them obtain loans at a single digit interest.

    He also spoke of the need to engage more SMEs and upgrade their accounting skills, which, according to him, has given rise to an account application that will enable even an accounting illiterate to do his business.

    Olagunju said to spread its services, BoI has given  out special funds to specific sectors, such as textile and Nollywood, with billions dedicated to operators. BoI, he said, also has a pact with the National Youth Service Corps (NYSC) to support over 1,000 Corps members with soft loans at a  single digit interest.

    “Bol is not like any other bank, but aimed at empowering and impacting developmental activities to grow the economy. Our consultants are helping the SMEs with preparing their proposals to check the over 90 per cent failure rate of loan applications by them,” Olagunju stated.

    Earlier, Chairman, LCCI, Trade Promotion Board, Dr. Michael Olawale-Cole, said the chamber aims to draw attention to the need to reposition and diversify the economy, and address the issue of value addition in non-oil export  to ensure that the nation earns more from commodities.

    He said the fair is holding at three locations – Tafawa Balewa Square; Muson Centre, which hosts the corporate and business-to-business exhibition, and Freedom Park on Broad Street, in response to the yearnings of the business world.

    Olawale-Cole said: “This investment conference is aimed at drawing attention to investment opportunities in the non-oil sector with a view to expanding the non-oil export net in line with the vision on diversification of the economy. The much needed development and diversification we crave for cannot be achieved without investments.”

    He observed that foreign-direct investments in the country have dwindled from $1.38 billion in July 2014 to $723.49 million as at July, 2015, pointing out that in real terms, the non-oil sector contributed 90.20 per cent to the gross domestic product (GDP).

    This is marginally higher from the figure recorded in the first quarter of 2015 and 89.55 per cent in second quarter of 2014. “This justifies our focus on investment and the non-oil sector development this year,” he added.

    Olawale-Cole praised  the organisation of the 2015 fair, which attracted investors from China, Japan, Egypt, European Union, Indonesia, Pakistan, India and Ghana. He maintained that it demonstrates the acceptance and attractiveness of the country to foreign direct investment.

    LCCI President Mr. Remi Bello regretted the recent report by the World Bank on “Ease of Doing Business” that showed a dismal performance by Nigeria.

    He said the indicators on paying taxes and construction permit are relevant to having an attractive investment climate. He called on the government to put in place a conducive policy and business environment for investments in productive sectors of the economy to thrive.

  • Turning a childhood hobby into responsible business

    Turning a childhood hobby into responsible business

    Getting a business off the ground is a challenge for young entrepreneurs.But small business owners starting up and running their own businesses despite the economic downturn are still hitting the headlines. Jacquelyn Esho is one of the nation’s brightest young entrepreneurs making waves and offering their advice to other budding entrepreneurs. DANIEL ESSIET reports.

    Thief Executive, Motherland Events Jacquelyn Esho has achieved more in her 22 years than many people would hope to achieve in a lifetime. Her talent, interior design was a way for her to express her creativity and it was perhaps this that drove her to make a huge success of her life.

    She went on to study Interior Design Arts at the University of London. After graduation, she made the decision to turn her childhood pastime into a viable responsible business.

    She started Motherland Events with the aim to change people’s perception of Nigeria and Africa as a whole. She has been running the company since 2013 in the United Kingdom.   The Interior Design Graduate recently moved back to Nigeria to develop her company. But her   life as an entrepreneur and her story is very exciting.  As  setting up a successful business in her mid twenties was by no means easy. But she  was  determined to do  something on her own. Her words: “ I started at the age of 20 with my first pay check £1600.” The business was growing until she decided to return to Nigeria. She  delighted  that  she  has been able to create jobs for youths and mostly international students who have come back to Nigeria and want to start work in a familiar environment. This is a huge accomplishment, and is al

    so incredibly important to the country’s wider economy and development.

    “I have a head office in Ikeja Lagos where I manage four members of  staff”. She said:” I am very unlike my friends, I work Monday- Sunday, and I am awake at 4am everyday speaking to the lord before I start my work, I spend most of my weekends exploring new and exciting places in Nigeria. She  added: “ I would say I have sacrificed living like a normal teenager, I admire the young entrepreneurs who work day and night trying to improve Nigeria like me.” Most exciting, however, is that she has structured her business in a way that it is expected to create more jobs in the next 15 years.

    The recent years has seen her company grow from strength to strength. However, it is not just business accolade for which the‘ formidable young woman should be proud; it is also the impact that her work is having on the economy.

    Her  words: “ I am determined to improve the tourism sector in Nigeria through entertainment, arts and culture. During my first London to Lagos event in June this year,  we faced a lot of challenges and also a financial loss however it is important to have faith in God and believe you are on the right track and things go wrong so that next time you will have a clearer view.”

    She  has firsthand experience of how difficult life can be for new starters. Day-to-day life is a huge challenge as  entrepreneurs  constantly struggle to put food on the table.

    To her ,the company’s  most important achievement is  to see a change in people’s perception of Nigeria and Africa as whole. She noted: “ I hope to see a positive image of Nigeria in the media.”

    For  Esho, being a young entrepreneur can be difficult especially when one is  the youngest person in her office. Being the  boss, she  doesn’t allow her age interfere with her  business,she  gives people respect and authority as required. She   is a fantastic example of a woman that has risen to the top of her game through sheer determination.

    Her best advice for young entrepreneurs is to keep going, “don’t stop at road blocks, no matter if you have run out of money keep going.” “My greatest fear is forgetting why I first started; sometimes when people become successful they forget who they are and where they came from.”

    Her greatest inspiration has been her mother.  “ she supports me majorly and shows a great example, and I am extremely proud of what I have achieved to date and give all the glory to God.”

    In  the next 10 to 20 years, she sees motherland Entertainment doing great things, having offices all over Nigeria, inviting travellers from UK, USA, Canada and other countries.