Munira Shonibare is a leading furniture maker and founder of I.O Furniture with a modern production line. In this interview, she speaks with Yetunde Oladeinde on life as an entrepreneur, mentoring, her management style and how she maintains a good relationship with her personnel.
WHAT is it like being the CEO of I.O Furniture?
It’s exciting for the simple reason that I enjoy what I do. I enjoy constructing things and it’s never a dull moment. It is also challenging for the reason that we thrive in a very challenging environment. A lot of people think that lack of good roads, lack of electricity is the major challenges for manufacturers but I see it differently.
One thing that we need to invest more in is the people, they actually drive everything. Skill is vital and so you need to have a knowledgeable labour first. Once you get that then you can then support with proper infrastructure.
Some employers experience high turnover of staff and this can be discouraging…
We have not found that to be the case here. However, we make our staff feel that they are part and parcel of the organisation. We pay very well and constantly have training for them. Not just training to enhance productivity, but to help them acquire skills that would guarantee a better future. For the carpenters we take them a step further and they learn how to cut marble. We also bring experts and consultants to talk to them on how to manage their resources properly.
We live in a society that worships money, is it easy to live within one’s income?
I am a testimonial to that. It is important to dream big and start small. It is better to take one step at a time. When you are focused, you would be structured, disciplined and committed to financial literacy. The problem is that the average Nigerian lives above their means. I have learnt to say no to a number of things.
Imagine a scenario where you have to pay for three or four aso- ebi in a month at an average of twelve thousand naira each and then multiply this for 12 months a year. Unfortunately, a lot of people do not make such calculations. We’ve done trainings for our staff on financial discipline and things are better here. The minimum wage here is thirty thousand naira and they have stopped asking for loans.
How would you describe your management style?
I like for my staff to take responsibility, to be proactive. I’m tough and they are likely to say that I am a slave driver. There is a proverb that says if you want a job done, give it to the person who is hard working.
Hard work never kills. It makes you better. You make good your promise once the relationship is that of trust.
They recognise that they would be willing to trust on the same wave length.
Once or twice we set targets and there are times that I tell them that if we do not make the targets then we do not get paid. It is a collective responsibility. Whatever one person does wrong or right would definitely affect the team. This is what is lacking in the country.
How would you assess the Nigerian female entrepreneur?
I think Nigerian women have been entrepreneurs forever. Unfortunately, nobody celebrates them. They are the traders, farmers and still have time for their children and family. Now, it is becoming more and more formal. From the cottage industry, to hairdressers and in the marketing of the final product you find women doing a great job. In Africa the percentage is higher than what we have in other parts of the world. The financial literacy is our problem. Even though we all put in our best, we only have access to about ten per cent of the funds.
How would you describe the opportunities given to women by the Central Bank under Sanusi Lamido’s tenure?
They have done a commendable job because they have recognised the role of women. If you educate a woman, you educate a generation. She would use the money to empower her children and the community. Apart from the CBN, other organisations give funds to women and they pay back. It is the best thing that has happened recently and we also have more female CEOs in different sectors. Any time you have a female CEO you find that the returns from blue chip companies grows. The human touch and the nurturing usually would be there. Look at what Angela Merkel is doing in Germany for instance.
Do you have people that you mentor?
Every year, I have a WISCAR mentee that I work with. I am on my fourth mentee at the moment. I stay in touch and help them define their dreams. What is gratifying is that you see them evolve.
How would you assess the performance of women in public life?
I find it commendable and on a good day I wonder how they cope. I like to see more. In the past, women in positions have been accused of not involving other women. In the public, they give it added value.
I am hoping that one day Nigeria would come up with a female president. For me, politics is not on the agenda. I prefer to be a change agent, playing the supportive role. I have got strong views and I am not the most diplomatic person to work with.
What inspires the designs of your furniture?
Inspiration comes from everything and everyone around me, especially young people. I have three children and the eldest is 25 years. You watch their lifestyles, their expectations and influences to get inspired. Apart from this, three of my management team, most of my staff, are young people.
There is a number of imported furniture especially those from China. Does this affect your business?
We have our own market and we are selling durability. If you want the quick fix, then the other option comes to mind. A client had fire in their apartment recently and our furniture survived. So, people looking for quality look out for things like this. You can keep it for life.
What is new at the moment?
I have got to attend a fair; it is the biggest fair in Milan. The business is global, their lifestyle and ours is the same. In fact, I would say that Africa is very colourful and you can see this in our dressing, our fashion and how creative we are with entertainment and sports.
Let’s talk about some of your memorable moments in life
I have had too many and I don’t know of a distinctive one. Well, the day we completely refurbished this place could be one. There were days when we came and the people kept on wondering if it was possible. Every time I had my babies was memorable. They looked innocent, harmless and totally dependable.
Will any of your children be toeing this line of business?
Not really. The first girl read Sociology and Economics, my son read Philosophy and the last child read Chemical Engineering. But again, who knows! I didn’t do it for my children, I did it for me.
If you had to advise government, what would you tell them?
They should invest in the sector. We need steady source of power and tax incentives to manufacturers. We are investing in growth and contributing to the social development of the people. Unfortunately, the textile industry is dying or it is dead. Meanwhile, Nigerians love clothes and we are importing from other places.
Where do you hope to se I.O Furniture in the next ten years?
I take it one day at a time. I try to give my best every day. I pray that given the structure, it can run itself under the helm of someone competent.
Who or what is the greatest influence in your life?
My parents. They are my role models, they taught me everything. Once you are honest and sincere, everything becomes a given and falls in place. So it is better to focus on doing it and be sincere.
How do you relax?
I love to spend time with my family, parents and nephews. Just hanging out and exchanging ideas.
If you had to advise young people, what would you tell them?
To prepare. Over prepare and go with the flow. It is better to get ready every day. The motto that I teach my people is to prepare all the time, make sure everything is okay. Unfortunately, a lot of our young people do not prepare. They go for an interview without a portfolio. When I went for my first interview, I had my portfolio.
You must begin to build up yourself, document what you do and dress properly. How can you be looking for a job in a blue chip company dressed in a spaghetti top and mini? Men do not do that. Everything is important, from your code to your demeanour. Appearance is important. We do not value our appearance.
