January 2018
JAN 2018 YOUTH EMPOWERMENT MAGAZINE THE GREEN LANTERN ROTIMI WILLIAMS Building A Formidable Agro-Conglomerate Chatbots and The Art of Conversation 15 Organisations Investing In Nigerian Agro-Businesses FREE WITH BUSINESS DAY LAST FRIDAY OF THE MONTH == Inside - N0.2 Million For You
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JAN<br />
<strong>2018</strong><br />
YOUTH EMPOWERMENT MAGAZINE<br />
THE GREEN<br />
LANTERN<br />
ROTIMI WILLIAMS<br />
Building A Formidable<br />
Agro-Conglomerate<br />
Chatbots and<br />
The Art of<br />
Conversation<br />
15 Organisations<br />
Investing In Nigerian<br />
Agro-Businesses<br />
FREE WITH BUSINESS DAY LAST FRIDAY OF THE MONTH<br />
==<br />
Inside - N0.2 Million For You
www.thesparkng.com<br />
The Spark | Ignite/Connect/Achieve<br />
L<br />
and. Lots of land. That’s what you see as you travel from one state to<br />
the next, in between towns and villages of different ethnic groups. It’s<br />
everywhere, in different shapes and sizes, but unified by one colour.<br />
Sticking your head out the window of a moving vehicle is not usually<br />
advisable, but regardless, you can still spot the tall trees, the big ones, the<br />
hideous ones, and those that look like masquerades.<br />
Some of these habitations are still yet untamed, home to wild life, yet hold<br />
some of the hidden secrets to poverty alleviation, remedies to lifethreatening<br />
illnesses, and are a source of livelihood to the unemployed.<br />
For those discovered, they have been abused, cut down, tread upon, and<br />
underutilized in a way that only benefits the manipulators who hold the<br />
chainsaw and determine what lives and what dies.<br />
Regardless of this, these trees still retain their evergreen colour signifying<br />
growth, life and hope. Some may be cut down, but more will spring up<br />
to stand for what they know is right. After all, the land is fertile. The land<br />
is green.<br />
From the Editor<br />
Green Is The New GREEN<br />
chose to feature the story of Rotimi Williams, an industry leader in the<br />
Agricultural sector to inspire and educate anyone looking to make great<br />
feats in the industry.<br />
In planning this first edition of The Spark Magazine, the crew had to<br />
accept an ugly truth - not every youth has what it takes to lead the nation.<br />
We spent hours expressing personal opinions and arguing about the fact<br />
that if not for the good meal of noodles and fried plantain which we had<br />
afterwards, you won’t be reading this letter today.<br />
The truth is some will be cut down, tread upon and manipulated. But more<br />
will rise and continue making a difference in their own little way. To make<br />
this happen, the best we can do is contribute our quota by providing the<br />
guidance and information we all need.<br />
<strong>January</strong> is a great time to set things in motion. With the many resolutions<br />
and goals you may have set for this year, let this edition guide you in<br />
implementation. It is also an opportunity to explore new frontiers and<br />
learn from different industry leaders who have presented their practical<br />
knowledge to us in ink.<br />
This is the case of the Nigerian Youth - a large percentage still underutilized<br />
and yet oblivious to the innate abilities they have to solve the problems<br />
that plague the nation.<br />
Without proper guidance and exposure to the right information, many<br />
will still take on different hideous forms scaring away the very people<br />
they are to help.<br />
Regardless of the looming problems we see, the nation has seen an<br />
emergence of a new breed of people who have decided to continue<br />
leveraging what has always been there - land. But this time using it as a<br />
source of sustainability and growth.<br />
Agriculture as we know it, is the first form of employment known to man.<br />
And if after millions of years, it hasn’t gone out of fashion, then it only<br />
makes sense to leverage it and bring about the change we seek, creating<br />
massive wealth in the process. Green is the new GREEN. That’s why we<br />
This magazine presents you with different avenues to achieve the success<br />
you seek. With The Spark Freestyle, creatives have the opportunity to<br />
freely express their heart and share their art. The Spark Connect gives<br />
young entrepreneurs the leverage they need to grow, through access to<br />
practical empowerment. The platform also offers free business consulting,<br />
free legal and mental health counselling, free publicity and loads more.<br />
With this, including articles ranging from leveraging new emerging<br />
technology to serve customers better, to experiencing growth through<br />
partnerships, strategy, self-discovery and empowerment, you’ll find<br />
enough practical information within these pages to make <strong>2018</strong> your best<br />
year yet.<br />
And on a final note, in line with the theme of Agriculture for this month, in<br />
order to help you bring that agro-business dream of yours to reality,<br />
Rotimi Williams will be empowering you with 0.2 million Naira cash grant<br />
and all access to his wealthy bank of knowledge and experience.<br />
Publisher:<br />
CEO & Head of Business Development<br />
& Client Services<br />
Ikenna Onuorah<br />
COO & Head of Digital<br />
Akintunde Marinho<br />
Head of Business & Growth<br />
Oghenevwoke Ighure<br />
Editor<br />
Anthony Osae-Brown<br />
Creative Director<br />
Segun Adekoye<br />
Art director<br />
Kola Oshalusi<br />
Head of Advertising<br />
Linda Ochugbua<br />
Head of Strategy & Planning<br />
Bankole Jamgbadi<br />
Managing Editor<br />
Lanre Solarin<br />
Project Manager<br />
Lehlé Baldé<br />
Specialist Editor<br />
Michelle Edoreh<br />
Associate Editor<br />
Ayandola Ayanleke<br />
Design | illustration<br />
Sodeinde Oladapo<br />
Fashion Director<br />
RTFCOMPANY<br />
Make-up Artist<br />
Lillian Paul<br />
In-house Photographer<br />
James Otihi<br />
Lanre Solarin<br />
Managing Editor<br />
Contribute to The Spark Magazine<br />
The Spark is the Youth Empowerment Arm of BusinessDay and<br />
needs passionate contributors. If you’d like to showcase the average<br />
Nigerian Youth doing something, anything positive, and provide<br />
practical, enriching information, email us at info@thesparkng.com.<br />
Address:<br />
The Spark: 21, Military Street, Off King George V Street, Lagos Island.<br />
BusinessDay Media Ltd: 6 Point Rd, Apapa, Lagos.<br />
Enquiries:<br />
+2348123183458, +2347030951270, +2348182799268<br />
Email: info@thesparkng.com Website: www.thesparkng.com<br />
Social media:<br />
@thesparkng<br />
@thesparkng<br />
1
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www.thesparkng.com<br />
Contributors<br />
Kaizer, Cicero & Co<br />
is a private company that provides<br />
business advisory services,<br />
consulting services, financial<br />
advisory services, tax advisory<br />
services and related services to<br />
public and private clients spanning<br />
multiple industries, delivering the<br />
insights they need to address their<br />
most complex business challenges.<br />
Segun Adekoye<br />
is a writer of poems, short stories and<br />
feature stories. A digital marketing<br />
strategist, lifestyle and technology<br />
enthusiast, trained at the New York<br />
Film Academy, Harvard Business<br />
School and Kellogg School of<br />
Management. His write-ups have been<br />
featured on BBC UK, CP Africa, YNaija,<br />
360nobs, naijaPOSE and Nairobi-based<br />
technology journals.<br />
ZebraVillaWorks<br />
is a creative firm dedicated to<br />
building educative and<br />
engaging games such as board<br />
games, puzzles and teasers.<br />
Using advanced methods and<br />
gamification strategies, they<br />
provide a better way to educate<br />
users (learners and players).<br />
Akintunde Marinho<br />
is a seasoned entrepreneur with<br />
8years experience in diverse<br />
industries including finance,<br />
marketing and technology. His<br />
work experience spans over<br />
various sectors of the economy<br />
including finance, international<br />
trade and advertising. He is also a<br />
Member of the Chartered Institute<br />
of Marketing, London England.<br />
Akintunde Marinho is the founder<br />
and CEO of Utopia Media Limited.<br />
Emmanuel Tarfa<br />
has 10 Years Strategy Consulting<br />
Experience with strong inclination<br />
to: Strategic, Critical and Analytical<br />
Thinking, Problem Solving and<br />
Value Creation. He is currently<br />
a Partner at Enzo Krypton &<br />
Company, a Strategy Consulting<br />
Firm based in Lagos Nigeria. He<br />
is Passionate about young people<br />
and job creation and has worked<br />
on some proprietary solutions<br />
that could be explored to create<br />
millions of jobs.<br />
Olayiwola Obayan<br />
studied Law at Obafemi Awolowo<br />
University. He practiced law privately<br />
before joining the employ of the<br />
Federal Ministry of Justice. In quest<br />
for higher education, he further<br />
proceeded to obtain his Masters<br />
degree in international trade and<br />
investment law at the University<br />
of Pretoria South Africa. In 2016<br />
he became a UNESCO fellow upon<br />
completion of a one year UNESCO<br />
fellowship program. He presently<br />
practices law, facilitates foreign<br />
investment and writes.<br />
Dr. Anne Mbonu MBBS<br />
MSc International Health Management<br />
(distinction) is an accomplished<br />
health care professional with almost<br />
20 years of clinical and management<br />
experience within the health sector.<br />
She honed her skills in the medical<br />
specialty of Psychiatry, and completed<br />
her Master’s degree in International<br />
Health Management with distinction at<br />
the Imperial College Business School,<br />
London. She is very passionate about<br />
improving health and well being in the<br />
community, and is registered with the<br />
Nigerian Medical and Dental Council<br />
as well as the U.K General Medical<br />
Council.<br />
Deji Adeniyi<br />
holds a post-graduate and<br />
undergraduate degrees in<br />
Corporate Governance & Estate<br />
Management from the Leeds<br />
Business School, UK and the<br />
University of Lagos respectively. He<br />
has almost 2 decades experience<br />
working for the Financial Services<br />
Industry in Nigeria. He is currently<br />
the Managing Director at OA<br />
Capital Partners Limited, a Strategy<br />
and Governance Consulting Firm in<br />
Lagos, Nigeria.<br />
Techpoint<br />
is a digital media platform<br />
dedicated to chronicling the impact<br />
of technology on the African<br />
narrative. It is a team made up<br />
of passionate individuals who<br />
are storytellers by nature, going<br />
where the rubber meets the road in<br />
local technology and starting real<br />
conversations about the startup<br />
ecosystem and how technology<br />
impacts the lives of real people and<br />
businesses.<br />
Damilola Oyewusi<br />
is a Content and Digital Marketing Strategist working in the Social<br />
Innovation sector. She uses the power of strategic content and the<br />
dynamic nature of marketing communications to influence and<br />
amplify life-changing innovative solutions to social problems.<br />
Kola Oshalusi<br />
is a Creative photographer with over 10 years of photography<br />
experience, the Founder and lead photographer at Insigna media, a<br />
photography company and is a graduate of Computer science from<br />
the Lagos state University. He has worked on photography projects<br />
within and outside Nigeria and Africa, with his work featured in<br />
various print and online publications around the world, including<br />
but not limited to Forbes, Elle, Conde Naste, Vogue, IHT, NYT,<br />
Bellanaija, Guardian, TW, Genevieve and more.<br />
Copyright © <strong>2018</strong> Ice-One. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or be transmitted in any form or by any means,<br />
electronic or mechanical, without prior permission of Ice-One.<br />
We do not endorse any products or services mentioned in any of the articles and are not responsible for the outcome of using such products or services.<br />
2<br />
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The Spark | Ignite/Connect/Achieve<br />
4<br />
success<br />
6<br />
Content<br />
BOTTOM LINE<br />
Why Strategic Partnerships Are<br />
Important for Start-ups<br />
WIREDIN<br />
1. Chatbots and The Art of Conversation<br />
2. Mobile Apps Millennial Entrepreneurs<br />
Are Using To Get Ahead<br />
8<br />
9 10<br />
12<br />
FASTFORWARD<br />
PRO BONO<br />
FREESTYLE<br />
THE SPARK EFFECT<br />
Fantasies of A Techie Bachelor<br />
Contract and Six Elements<br />
Exploring Artistic Realities<br />
1. The “Green Lantern”: Rotimi Williams,<br />
Building A Formidable Agro-<br />
Conglomerate<br />
2. The Spark Connect: Uzoamaka Aniunoh<br />
Meets Emem Isong<br />
17 20 24 27<br />
VITAL SIGNS<br />
On Mental Health In The Workplace<br />
FEATURES<br />
1. 15 Organisations Investing in<br />
Nigerian Agro-Businesses<br />
2. Social Entrepreneurship and<br />
Sustainable Development<br />
START UP<br />
1. Your Career In <strong>2018</strong><br />
2. 5 Work Habits For <strong>2018</strong><br />
TODAY AT...<br />
Onetech Store<br />
28 30 32<br />
33<br />
INTUNE WITH... BRANDSPARK ENGAGE<br />
Akintunde Marinho on the Wines<br />
and Winelands of South Africa<br />
Paylater vs Branch 1. The Chef<br />
2. Alpha-Beta<br />
WHAT NEXT?<br />
@thesparkng<br />
3
The Spark | Ignite/Connect/Achieve<br />
www.thesparkng.com<br />
Bottom Line<br />
Why Strategic Partnerships Are<br />
Important for Start-ups<br />
Over the years, successful start-ups have taken advantage of opportunities to overcome challenges that may arise<br />
on various operational fronts through the benefits of strategic partnerships.<br />
- By Kaizer, Cicero & Co.<br />
Starting up a new business venture is oftentimes a thrilling<br />
and exciting thought. The to-be entrepreneur is full of<br />
energy and eager expectation about a vision he or she is set<br />
to birth into reality. However, it is far easier to conceptualize the<br />
achievement of this great vision, than it is to successfully meet<br />
all the demands it poses and scale through the numerous hitches<br />
a new business might encounter on its way to lasting success.<br />
In actual sense, running and sustaining a successful business<br />
venture in today’s global marketplace is far from a walk in the<br />
park. According to Forbes Entrepreneurs, 90% of start-ups in<br />
the US will eventually fold up. The United Nations Industrial<br />
Development Organisation’s Investment and Technology<br />
Promotion Office (UNIDO ITPO) puts the figure at 80% for<br />
Nigeria.<br />
For the entrepreneur in this unfortunate position, the dream and<br />
hopes of leading a lasting legacy by means of a successful<br />
business venture quickly crumbles, and are likely to remain<br />
abandoned until the next promising idea or opportunity to try<br />
again.<br />
Sometimes, start-ups may sail through the first and even second<br />
years of existence only to find that the demands of maintaining<br />
profitability in a fluid market or highly volatile economy are just<br />
not able to see the business through its third, fourth or fifth year.<br />
A publication by the US Small Business Administration said that<br />
only 20% of start-ups will go past five years. The numbers are<br />
also similar in Nigeria. A study by Stanbic Bank in 2013 showed<br />
that 80% of SMEs (including Techpreneurs) in Nigeria fail within<br />
the first five years.<br />
There are several reasons a business might fail in any given<br />
sector, economy, place or time. In the global south and in<br />
countries such as Nigeria, some of the most common reasons<br />
can be traced to lack of adequate funding and access to working<br />
capital, poor planning, mismanagement of funds, economic and<br />
political instability, epileptic power supply (common in Nigeria),<br />
issue of double taxation, unfavourable government policies,<br />
other operational issues etc.<br />
It may also take years for new businesses to build a strong<br />
enough customer base, gain stakeholder confidence and build<br />
brands capable of competing favourably in the marketplace.<br />
However, a key but commonly overlooked factor capable of<br />
sustaining a start-up through turbulent early years is its<br />
engagement in strategic partnerships.<br />
Through these strategic partnerships, start-ups team up with<br />
larger or same sized organisations who share common goals,<br />
have similar target markets, or whose operations complement<br />
the business’ objectives. Strategic partnerships with larger<br />
and well-established businesses, market influencers, industry<br />
associations and other stakeholders can go a long way to help<br />
sustain the growth attained in the early years of a business.<br />
Uber, for example, scaled through the difficult early years by<br />
engaging in strategic partnerships with companies like<br />
Toyota, Starwood Hotels, Yellow Pages, Google, etc. Strategic<br />
partnerships are all about synchronizing services to meet the<br />
needs of a shared target market.<br />
A pharmaceutical company once faced a dilemma; the business<br />
experienced a sales distribution challenge that hindered the<br />
company from getting lifesaving medicines across to remote<br />
villages in Zambia plagued with diarrhoea. The company came<br />
up with an ingenious solution - they thought of the only product<br />
that would most likely be found anywhere in the world - Coca-<br />
Cola (thanks to its robust network of suppliers).<br />
The pharmaceutical company stacked Oral Hydration Solutions<br />
in crates of Coca-Cola through which they were able to get the<br />
required drugs to the villages.<br />
Sometimes, strategic partnerships, even with potential competitors,<br />
can help a start-up discover how to differentiate its products or<br />
service offerings through specializations that other companies<br />
in the same industry may lack. In the early years of a start-up<br />
business, strategic partnerships can go a long way in helping<br />
scale through hurdles, increase their bottom line and minimise<br />
risks.<br />
Strategic partnerships can help level the playing ground for<br />
small start-ups and give them the competitive edge to compete<br />
with larger organizations. Strategic partnerships can help<br />
start-ups share marketing, product development, sales and<br />
distribution and other functions. Small businesses can also enter<br />
strategic partnerships with suppliers, banks, vendors etc. to<br />
make product and service delivery more efficient.<br />
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Here are some basic factors to consider<br />
when selecting strategic partners:<br />
a. It is important to note that partnerships are not always easy<br />
and that sometimes they do not work out. Nonetheless,<br />
it is important to address three important issues namely:<br />
Leverage, Scalability and Incremental Revenue to both<br />
entities.<br />
b. A potential partner should have a market presence<br />
beneficial to your start-up. They must also possess a<br />
product or service that you can leverage from.<br />
c. Lastly, the resulting product or service should be capable of<br />
being offered to customers repeatedly across a sales<br />
process, thereby creating an opportunity to increase<br />
revenue.<br />
bring some innovation to the product or service that they<br />
render. This kind of strategic partnership can help you<br />
reduce direct marketing costs and it can also help you gain<br />
credibility and visibility in the market.<br />
f. There should be a defined mutual vision for success for the<br />
parties involved in the partnership and how all parties<br />
involved can leverage the other’s strengths and competence.<br />
g. Never go into any partnership without having a contractual<br />
agreement or documentation that details the responsibilities,<br />
the risks, rewards, rules of engagement and other<br />
components that may affect the partnership as it rolls out.<br />
h. Regular communication at the executive level and open<br />
disclosure of issues as they arise in the partnership are very<br />
important to both parties. Customers need to be confident<br />
that both parties are committed to the partnership.<br />
Other factors to consider include:<br />
d. Technical Prerequisites: If your product or service is one<br />
that when sold or delivered may lead to the use or<br />
implementation of another product or service, you may<br />
want to consider getting into a strategic partnership with<br />
the company that produces the other product or renders<br />
the other service.<br />
e. Does your company have a solution that might help a larger<br />
corporation differentiate its product or service? You may<br />
want to partner with the larger corporation. Remember<br />
that the larger a firm is the slower it is for the firm to<br />
apply innovation and change. You may want to enter into<br />
a strategic partnership with that larger firm to help them<br />
80% of SMEs (including<br />
Techpreneurs) in Nigeria fail<br />
“within the first five years.<br />
Successful SMEs<br />
20%<br />
“<br />
Failed SMEs<br />
80%<br />
success<br />
Source: 2013 study by Stanbic Bank<br />
When seeking strategic partnerships, especially with bigger<br />
organisations remember to focus on the value that you bring to<br />
the partnership if it happens. Also, remember that what may be<br />
of great value for you as a start-up might not necessarily be of<br />
that much value or essence to a bigger organisation.<br />
For instance, a company like Dangote cement will not be<br />
motivated by a partnership that will generate additional<br />
NGN100M of revenue in a year even though that might be so<br />
much more than your company will generate yearly. However,<br />
a strategic partnership that will help Dangote cement increase<br />
efficiency in service delivery or distribution over a certain period<br />
of time may provide more motivation for the company.<br />
In summary, before embarking on that meeting to introduce<br />
your company and present your value proposition, remember to<br />
pin down those metrics that your potential partner cares about.<br />
@thesparkng<br />
5
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www.thesparkng.com<br />
Wired In<br />
Chatbots and The Art of Conversation<br />
Making it easier for customers to buy is the way forward for any business and is a sure catalyst for growth.<br />
Chatbots are the new customer support reps, and businesses are already leveraging this new trend.<br />
- By Techpoint<br />
The advent of social media, and the app store after it, brought<br />
about a global revolution in business. Beyond reshaping the<br />
way businesses approach sales, marketing and customer<br />
However, as the app and social media space become more saturated,<br />
people are beginning to grow tired of them. Consequently, the bulk<br />
of online social activity is moving from public spaces (like Facebook<br />
and Twitter) to private groups (like WhatsApp).<br />
Of the average 4 to 6 apps that smartphone users interact with on a<br />
daily basis, at least one is a messaging app. Over 70% of WhatsApp<br />
users interact with the app every day, the average (Facebook)<br />
Messenger user spends an accumulated 50 minutes a day in the app<br />
and WeChat alone captures over 30% of China’s mobile app usage.<br />
In response to these usage trends, proactive businesses are gradually<br />
repositioning themselves where consumers spend most of their<br />
“<br />
Of the average 4 to 6<br />
apps that smartphone<br />
users interact with on a<br />
daily basis, at least one<br />
is a messaging app.<br />
“<br />
Here in Nigeria, a couple of small and medium scale businesses are<br />
beginning to embrace this global trend. Lara.ng is a Lagos-based<br />
startup that utilises chatbot technology to assist city commuters in a<br />
conversational manner. Using simple phrases like “I’m going to Ikeja<br />
from Yaba”, users can interact with “Lara” the chatbot, in just the<br />
same way they would a friend, and get detailed bus directions and<br />
fare estimates.<br />
Leveraging on the Facebook Messenger platform, Kudi.ai employs a<br />
similar approach to make the process of online bill payments so<br />
simple that even your grandmother can do it. Eat.Drink.Lagos, a<br />
popular restaurant review online platform, also has a chatbot that<br />
Jumia, one of Nigeria’s biggest ecommerce platforms also recently<br />
launched Jumia Bot on (Facebook) Messenger in a bid to improve<br />
the shopping experience. Rather than spending several minutes<br />
or hours navigating the website, shoppers can simply specify a<br />
particular item — including the brand, colour and other details —<br />
and the chatbot will present them with options.<br />
While chatbots are still a relatively nascent technology, there is no<br />
denying the potential they hold for businesses. Because they require<br />
time. This has given birth to the era of chatbots.<br />
Chatbots are computer programs that the user can “chat” with using<br />
your preferred messaging app. By simulating natural human<br />
conversation, over an interface that billions of people around the<br />
world are familiar with, chatbots are able to simplify user experience<br />
in a way that graphical user interfaces have never been able to. All<br />
that is required of the user is the ability to read and write.<br />
Some of the biggest global brands and companies such as National<br />
Geographic, MasterCard and The Wall Street Journal, to mention a<br />
few, are already utilising chatbots to engage with consumers on a<br />
more personal and direct level.<br />
amounts of information faster than humans and thus provide<br />
the customer journey towards an intended outcome (sales, daily<br />
habits, etc.). The opportunities are boundless.<br />
The good news is that even for the smallest of businesses, the barrier<br />
to entry is relatively low. Many popular messaging platforms like<br />
Skype, Slack and (Facebook) Messenger have integrated chatbot<br />
functionality that anyone can leverage on. There are also thirdparty<br />
tools like Chatfuel and Motion AI that make it possible to build<br />
chatbots with very little or no programming experience.<br />
6<br />
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www.thesparkng.com<br />
The Spark | Ignite/Connect/Achieve<br />
Mobile Apps<br />
Millennial<br />
Entrepreneurs<br />
Are Using To Get<br />
Ahead<br />
Entrepreneurs play a vital role in market economies, and over<br />
the years, the presence of some mobile apps have surprisingly<br />
made them more productive than ever.<br />
- By Lanre Solarin and Michelle Edoreh<br />
In this digital age, things are pretty much easier for entrepreneurs. But as<br />
the saying goes, “with great power, comes great responsibility”. Millennial<br />
entrepreneurs have an obligation to use mobile apps if they want<br />
their company to remain competitive. That is why we asked six young<br />
entrepreneurs to share their go-to app of choice that boosts productivity<br />
for their business. Here’s what they had to say:<br />
“Every professional should use a calendar app. Being a<br />
Productivity Consultant, I understand that we need to treat<br />
time as more valuable than money. I like Google calendar<br />
because it helps me prioritize so I can easily make decisions on<br />
what tasks to do and when. I can also use it across my devices. So<br />
whatever events I create are saved on the cloud and I can access<br />
from a different phone on the go.”<br />
Olu Ogunlela, CEO Kairos Krunch<br />
“There’s a saying in the culinary world which goes thus, ‘you<br />
eat with your eyes first’. Instagram has played a big role<br />
in growing my business clientele. The app even contains<br />
a preset that helps in editing food pictures for food bloggers.<br />
Using this app to edit my food pictures enhances the picture<br />
quality while posting it attracts traffic to my page and also leads<br />
to an increase in enquiries that have led to actual sales. At least 70<br />
percent of my jobs and references have come from Instagram.”<br />
Chef Zoey Blaq, Owner Zabambam Kitchen Catering Services<br />
“To keep up with my business targets for sales, it is important<br />
I churn out the very best content. I understand that images<br />
have the innate ability to communicate my brand message.<br />
This is why I use the Aviary photo editing app to create visual<br />
content for my business with each passing day. It increases<br />
credibility in my brand and also increases sales.”<br />
“Zoho social for business allows us at Socialite manage all<br />
our social media accounts for clients in one place. It also<br />
allows us to invite our clients to see how their social media<br />
presence is going thereby saving time in sending multiple<br />
reports from different social media platforms.”<br />
Debola Amokomowo, Kijani Organics<br />
Seyi Fakoya, Socialite<br />
“OneNote is a lifesaver for my business. It’s available on<br />
both mobile and web and really, synchronization is key. I love<br />
the fact that I don’t need internet for it. If I’m off the grid, I can<br />
create notes in the to-do checkbox style and once my internet<br />
connection is back, it synchronizes. As an entrepreneur, I just<br />
can’t do without this app. It’s super useful.”<br />
Daniel Adia, MyNaijaReviews<br />
“Every online business like mine needs great graphics and due<br />
to the fact that I was spending so much money on putting my<br />
startup together, it was almost impossible to afford a good<br />
graphic artist. Canva came to the rescue. With this app, I did<br />
not need a background in graphic design. The easy drag-anddrop<br />
features with a sea of free templates in the app have helped<br />
elevate my business to a whole new level.”<br />
Nkemdilim Odili, Yanga Baby<br />
@thesparkng<br />
7
FastForward<br />
Fantasies of A<br />
Techie Bachelor<br />
What’s the future of tech? How would life look like in the next 10 to 15 years<br />
if the new inventions we see today become everyday gadgets? Well, here’s<br />
an example.<br />
- By Segun Adekoye<br />
It’s 5:30am, yet your room takes on the gradual amber glow of<br />
a rising sun. As you approach the window, your venetian blinds<br />
feel your presence and part to reveal a deep-blue starry sky.<br />
You know it’s the crimson glow of your intelligent bulb that has<br />
simulated an artificial sunrise to help your body respond better<br />
to your morning alarm.<br />
“It’s not even 6am yet”. You fall back on the bed, crawling under<br />
your duvet. 15 minutes later, your Amazon Echo makes a whirring<br />
sound, followed by a 5:45am ding. You snooze, muttering<br />
to yourself how deserving you were of more sleep, because<br />
the Bank’s website you updated ate into your bedtime. You’re<br />
half-thinking about that, half asleep and then you feel a shortvibration<br />
on your wrist followed by a mild electrocution.<br />
“Damn you this wretched wrist-band!” you curse out, yanking off<br />
your Pavlok Shock wristband from your wrist, before throwing<br />
it into the waste bin. You get up, dragging yourself slowly to<br />
the waste bin to pick up your Pavlock because it has saved you<br />
several times from oversleeping.<br />
“Sisi” you mutter, looking over at your Amazon Echo. “Sisi, turn<br />
on the water heater. Thirty-five degrees”.<br />
As you approach the bathroom, Sisi switches on the light, turns<br />
off the Air-conditioning unit in your room and activates the<br />
bathtub speakers.<br />
‘So make I dey your body like skin tight<br />
Wey I go dey by your side’<br />
It’s 7:15am now and you rush out of the house. Your garage<br />
opens as you press hard on your car key, while your 2017 BMW<br />
750i drives itself outside the garage and unlocks the rear door<br />
for you. ‘999c Danmole’<br />
“Express or Beach road sir?”<br />
“Beach road, Romanus”, you respond to the car without looking<br />
up.<br />
Ping! You receive a notification from your doorknob, Sesame.<br />
“Hey! You forgot to lock the entrance door. Are you expecting<br />
someone or do I activate soft lock?”<br />
“Hard-lock Sesame. Thanks.”<br />
Your car makes an abrupt stop, avoiding a collision with a danfo<br />
bus that just veered into your lane without warning.<br />
“You dey mad abi? You dey drive this kain car wey no get driver?”<br />
The bus driver yells as he speeds past.<br />
These types of cars cannot survive this city, people say. Your car<br />
is close to your office but has been indicating a left turn for some<br />
minutes, no one is willing to give you a chance. You pull out your<br />
phone, typing a message that pops out on your car’s rear glass.<br />
You had installed Ototok a few days ago to communicate with<br />
other motorists like yourself.<br />
‘Abeg, make I pass’, your Ototok’s led light flashes across the<br />
screen. Romanus, your self-driving car makes its way finally to<br />
your office car park.<br />
You’re so attached to your devices that you have given all of<br />
them unique names. Sisi handles the home affairs. Romanus<br />
takes care of you on the road, while Kike, your Google assistant<br />
handles your schedule at the office and quick errands such as<br />
meal orderings, soccer score updates and more.<br />
You settle down, googling ‘errand robots in China’. Your day<br />
begins.
www.thesparkng.com<br />
The Spark | Ignite/Connect/Achieve<br />
Pro Bono<br />
Contract and Six Elements<br />
Hardly does a day go by without individuals entering into one form of agreement or the other, either overtly or covertly.<br />
These agreements can be in form of selling or leasing property, becoming an employee or independent contractor, settling<br />
disputes, and many more. In so many cases, individuals enter these agreements without considering the essential provisions<br />
necessary to create an enforceable contract. Please don’t be one of them.<br />
- By Olayiwola Obayan<br />
In order to avoid or at least minimize pitfalls, I will run<br />
you through some basic elements of a valid contract.<br />
Contracts May be Oral or Written<br />
A contract is basically an agreement between two or more<br />
parties who have the capacity to enter into a contract. It<br />
can be oral, but an oral contract (sometimes referred to<br />
as a verbal contract) may be difficult to enforce unless its<br />
terms can be proved or are admitted by the parties. It<br />
can also be a written contract that contains the essential<br />
provisions that reduce this risk (this is recommended).<br />
Consequent upon the above, below are the essential<br />
provisions of an enforceable contract that must be looked<br />
out for at every stage of a contractual obligation:<br />
Offer<br />
An offer is a mere expression of willingness by one party<br />
to contract on certain terms with another party with the<br />
understanding that the contract will become binding<br />
when accepted by the person to whom it is offered.<br />
It should be noted that an offer may be made in different<br />
ways, such as in a letter, an email, or even your behavior,<br />
so long as it conveys the basis on which the offering party<br />
is willing to contract. An offer should consist of:<br />
1. a statement of present intent by the offering party to<br />
enter into a contract<br />
2. a specific proposal that is certain in its terms<br />
3. a communication that identifies the person to whom<br />
the offer is made. If any of these elements are not<br />
present, an offer has not been made.<br />
Acceptance<br />
Upon an offer being made, acceptance, which is a final<br />
and unqualified expression of consent to the terms of an<br />
offer, should ordinarily follow. Needless to say that an<br />
offer may only be accepted by the person to whom it is<br />
made unless an agent is authorized to accept on behalf of<br />
that person. In addition, an acceptance must be made in<br />
the manner requested or authorized by the offering party.<br />
If the party to whom the offer is made changes the terms<br />
of the offer, he or she has rejected the initial offer and has<br />
made a counteroffer that may or may not be accepted by<br />
the other party.<br />
Competent Parties<br />
Parties to a contract must be competent to enter into a<br />
contract. In general, most individuals are deemed to have<br />
the capacity to contract unless the person is a minor,<br />
incompetent or insane, drunk or drugged when entering<br />
into the contract.<br />
Lawful Subject Matter<br />
In order for a contract to be enforceable, its subject matter<br />
cannot be prohibited by law or violate public policy. For<br />
example, a contract for the sale of illegal drugs is not<br />
enforceable, and a person cannot promise to transfer clear<br />
title to real estate if the property is encumbered by a lien<br />
or mortgage or basically under litigation.<br />
Mutuality of Obligation<br />
In order for there to be an enforceable contract, the parties<br />
must have a common intention or a meeting of minds on<br />
the terms of the contract. The parties must agree to the<br />
same thing, in the same sense, and at the same time. If<br />
one party to a contract has been fraudulently misled about<br />
the terms of the contract by the other party, the contract<br />
is voidable.<br />
Consideration<br />
Consideration is a very important element of an enforceable<br />
contract. Consideration may be money or a promise. In<br />
addition, consideration may consist of a restraint from<br />
suing on a claim that may be part of a legal dispute. There<br />
are however varying views on whether consideration must<br />
be monetary; the main thing is that it must have value in<br />
the eyes of the law. Whatever consideration is provided<br />
under a contract, must be clearly agreed upon by both<br />
parties to the contract or it must be clearly implied by the<br />
terms of the contract.<br />
With this general overview of essential terms, consult a<br />
lawyer to make sure your next contract is legally<br />
enforceable and meets your original intentions.<br />
The information contained in this article is for informational<br />
purposes only and should not be construed as legal advice.<br />
Need legal advice? Send in your questions.<br />
See page 33.<br />
“<br />
If one party<br />
to a contract<br />
has been<br />
fraudulently<br />
misled about<br />
the terms of<br />
the contract<br />
by the other<br />
party, the<br />
contract is<br />
voidable.<br />
“<br />
@thesparkng<br />
9
The Spark | Ignite/Connect/Achieve<br />
www.thesparkng.com<br />
Freestyle<br />
Exploring Artistic Realities<br />
- By Kola Oshalusi and Lanre Solarin<br />
Graphite & Charcoal Art by Asim Eta Asim<br />
(Instagram:@asimeta)<br />
Colour and Light by Anakhuagbor Sule (Instagram:@i_am_nak)<br />
Water Colour Art by Uduehi Philip Esene (Instagram:@uduehi_e)<br />
Hyperrealism Art by Oluwaseyi Nurudeen<br />
Alabi (Instagram:@sheyi_pencilz)<br />
A<br />
picture is worth more than a thousand words. One work of<br />
art can give birth to a zillion interpretations, most times<br />
completely different from the creator’s point of view.<br />
And that’s okay, because like nature, there’s always something new<br />
to see, a new angle to discover and a new reality to escape to...<br />
temporarily of course.<br />
Artists are like gods, reaching deep within their souls to create<br />
pieces of a reality that already exist in their minds, to express<br />
thoughts they know are alien to basic human comprehension.<br />
When the final piece gets released, viewers, readers and those in<br />
between start to wonder what multiverse the artist came from.<br />
Hyperrealism Art by Arinze Stanley Egbe (Instagram:<br />
@HarinzeyArts)<br />
Water Colour Art by Uduehi Philip Esene (Instagram:@<br />
uduehi_e)<br />
With several art exhibitions around, it’s obvious Nigerians are<br />
beginning to appreciate the work these creatives put into what<br />
they do. And the good thing is more people are daring the status<br />
quo, doing what they have passion for - art.<br />
It’s easier now more than ever to gain exposure for your work and<br />
build a brand, thanks to new media. With tools like Instagram,<br />
Facebook and others, there’s no limit to what you can do and who<br />
you can reach. We’ve chosen to showcase some of such works<br />
here. Feel free to explore and give them as many interpretations<br />
as you deem fit.<br />
In our bid to project the young African expressing their heart and<br />
art, every month, selected creatives are given the opportunity<br />
to showcase their work at our monthly art exhibition event -<br />
FreestyleX. This creates an avenue for them to get connected to<br />
industry leaders who may find interest in their work.<br />
Submit your works to be selected for FreestyleX. For<br />
submissions, see page 33. To see more art works, you can visit<br />
the Freestyle category on our website.<br />
Landscape painting by Olubunmi Taiwo (Instagram:@olukorede_artistry)<br />
10<br />
@thesparkng
THE<br />
GREEN<br />
LANTERN<br />
Rotimi Williams,<br />
Building A Formidable<br />
Agro-Conglomerate<br />
- By Lanre Solarin<br />
“The Agricultural industry is a bittersweet<br />
one”, stated Rotimi Williams, the 36 year old<br />
happily married entrepreneur, as we sat in a<br />
Café on a cold Tuesday morning at a time when<br />
everyone was still enjoying the freshness of the<br />
new year in their homes and villages.<br />
Rotimi<br />
Williams<br />
Agriculture in Nigeria didn’t come into full<br />
swing until it became a necessity for income<br />
diversification. With the country still heavily<br />
focused on oil as a primary source of revenue,<br />
only a few people were willing to go the whole<br />
nine yards into this untapped sector.<br />
As a graduate of Economics from the University<br />
of Aberdeen, with two Master degrees, the<br />
second in Finance and Development studies,<br />
Rotimi landed a job with Euromoney Magazine<br />
to cover the African Space.<br />
It was during his many trips that he discovered
that Agriculture was a common interest and so decided to get involved in<br />
the market on his arrival back to Nigeria.<br />
To Rotimi Williams, the owner of Kereksuk Farm which is the second largest<br />
commercial rice farm in Nigeria by land size, it’s no big deal being a<br />
rice farmer. “Agriculture is the most basic thing, but we’ve managed to<br />
complicate it beyond rocket science. The only reason people talk about me<br />
is because I do the most basic things that they haven’t done.”<br />
Regardless of the fact that he has a farm, Rotimi is more location<br />
independent than most people can imagine. As an entrepreneur, he has<br />
been able to diversify, creating three businesses, all providing solutions to<br />
the Agricultural sector.<br />
Although he has an office, Rotimi prefers to work from the Café or<br />
anywhere else, asides his house where his two children run the show. With<br />
his laptop, a drink and a couple of distractions to spark up his creativity,<br />
Rotimi can monitor his businesses, have meetings and make sound<br />
business decisions. For him, some distractions are good.<br />
With a rice farm which sits on 45,000 hectares of land, and a Big Data<br />
company that acquires real time prices of everyday goods you can find in<br />
the market, like tomato, onion, pepper, rice, etc. Rotimi has his work cut<br />
out for him. During planting season, Rotimi spends some time in Nasarawa<br />
for the land preparation and actual planting. At other times, he simply<br />
goes over to inspect.<br />
In order to make informed business decisions, and help provide needed<br />
data to help other players (both small and big) in the industry, Rotimi’s<br />
second company, Compare The Markets (CTM), has been studying the<br />
Agricultural market closely for up to three years now, constantly obtaining<br />
commodity price data from four main markets in Lagos - Ido, Oyingbo,<br />
Ketu and Mile 12 on a daily basis.<br />
The quantitative and qualitative data collected helps them understand the<br />
reason behind seasonal trends and market price fluctuations. In Rotimi’s<br />
opinion, this information alone helps smart farmers know when to plant in<br />
order to supply the market when the prices are high. It’ll also help policy<br />
makers and the government properly allocate resources efficiently.<br />
For example, he revealed that 75% of Pineapples are brought in from<br />
Cotonou into Lagos. If a city close to Lagos, like Ogun state, were<br />
producing these pineapples, it’ll automatically create jobs for people and<br />
generate extra income for the government, while cutting the outward flow<br />
of resources.<br />
Getting to this point of intentional research and making data-backed<br />
decisions didn’t come by chance. By steadily growing his rice farm for the<br />
past 5 years, Rotimi has come to realize that there’s nothing better than<br />
learning on the job. But getting started wasn’t easy.<br />
Growing an Agro-Business From Scratch<br />
Rotimi laughed, in response to the perception people have about him<br />
starting out on a large scale. “I didn’t start big. That’s the mistake people<br />
make. I did a lot of personal raising of funds and got rid of a few assets.<br />
I started first with a pilot scheme of 50 hectares, then went to 100, 200,<br />
and then 1000 hectares,” He stated. As a forward-thinking entrepreneur,<br />
Rotimi started out with an expansion plan on ground but with organic<br />
growth in mind. To him, starting big is an epic fail.<br />
The Government also created a program where they allowed people in rice<br />
production import rice at 30% while those not in rice production could<br />
import at 70%. After qualifying for the program, the 40% savings he made<br />
was reinvested back into the farm. This shortened the time he’d have<br />
otherwise used to grow his farm to what it is today. But it didn’t come easy<br />
as he had to compete with 24 other companies in the program.<br />
45,000 hectares of farmland is the expansion plan. He got the land ahead<br />
in order to start growing into it. But the actual planting is done on 1,000<br />
hectares, which is still a huge piece of land. In his breakdown, he stated<br />
that to plant on 1,000 hectares, you need a minimum of about 120 million<br />
Naira working capital every season (up to twice a year). It’ll also cost about<br />
100 million Naira to clear that land and that excludes purchasing your own<br />
equipment.<br />
Choosing Nasarawa as his farm location wasn’t planned. While working on<br />
a project in Nasarawa, raising funds for a business, he discovered that the<br />
location was also good for rice. Asides that fact, there was no issue with<br />
Boko Haram, the community was relatively stable with a good balance of<br />
Christians and Muslims, and being from the South, he was easily accepted.<br />
A lot of things just came together for him.<br />
But even though the team felt they had it all figured out, they never<br />
anticipated some setbacks. His growth strategy was simple: whenever he<br />
grows the expanse of farmland up to 1000 hectares, he’ll simply reinvest<br />
to expand again. But he never anticipated the flood.<br />
“When the flood came, it wiped out the entire capital. We didn’t have<br />
anything to use to expand. We literally had to start small again. This is<br />
really what Agriculture is about. It could be one season of fortune and 3<br />
or 4 bad seasons.”<br />
Facing Challenges<br />
Rotimi’s farm in Nasarawa is located just 50 metres away from the bank of<br />
the River Benue, and the only divider is a road. Whenever there’s a lot<br />
of rainfall, the Lagdo dam in Cameroon gets opened and one place the<br />
excess water moves to is his farm, taking with it his rice seeds and planting<br />
efforts. This was what wiped out his capital the first time the farm scaled<br />
up to 1000 hectares.<br />
Moving away from the water would cost more because then, they’d have<br />
to pump a lot more water. To address this issue, measures are being taken<br />
to develop another part of the farm to avoid future occurrences. But the<br />
flood was just one of several challenges.<br />
In 2016, just like every other farmer would do, they bought seeds, and did<br />
everything required during the planting season. However at harvest, not<br />
a grain of rice grew from most of the seeds. It became obvious that the<br />
seeds purchased were bad seeds. So a ton of money was lost, all as a result<br />
of poor quality control of seeds.<br />
“Driving from Abuja to my farm is about 5 hours. So every time I go to the<br />
farm, I have to leave by 3pm otherwise my life would be in danger,” Rotimi<br />
stated as he recalled the security challenges he faces with his farm. Due to<br />
the long distance, there are certain hot spots along the way and this has<br />
led to a couple of unwanted occurrences that could have claimed his life.<br />
As with many entrepreneurs, getting funding from banks posed as another<br />
issue. Small projects are less likely to get funds. For big projects, the<br />
reverse is the case but then, the interest rate kills you.<br />
“A lot of people are going into Agriculture without understanding this<br />
part,” Rotimi continued. “If you want to plant rice for example, the biggest<br />
part of your working capital is the purchase of fertilizer, seeds, herbicides<br />
and pesticides.”<br />
Unfortunately, these fertilizers, seeds and chemicals are imported,<br />
therefore their prices are at the mercy of Foreign Exchange rates which<br />
farmers aren’t in control of. If, after receiving your loan, the Naira gets<br />
devalued further, the cost price will eventually go up. While the obvious<br />
solution to this would be to raise the price of local rice, Rotimi pointed<br />
out that due to the price of the imported rice, the price of local rice would<br />
forcefully remain stable, thereby causing less revenue and profit for the<br />
farmers. This market fluctuation is one reason he has withheld making<br />
loan applications to banks. For him it’s a huge risk and he prefers to be<br />
patient.
The Spark | Ignite/Connect/Achieve<br />
www.thesparkng.com<br />
Getting talents was also another major challenge that kept Rotimi<br />
frustrated. Inasmuch as people say there’s unemployment, the truth is in<br />
the rural areas, not everybody is willing to work. And he went into the<br />
business with the mindset that they were going to use more of labour and<br />
less of machines in order to create employment. However, the cost became<br />
too much. The labourers became slow and inefficient. Generally, the work<br />
ethic was poor and there were issues of theft. However, accepting the help<br />
of a security guard to bring his female relatives to the farm changed the<br />
modus operandi.<br />
The Farm-Out-Of-Poverty Initiative<br />
“For me, it’s one of the things I’ve done that gives me the greatest joy,”<br />
Rotimi stated with a smile and sense of gratitude. “What we did was we<br />
took a group of people no one believed could do anything in Agriculture<br />
and proved that they were better than most people at it.”<br />
The Fulani women were perceived as being only good enough for selling<br />
milk on the road. But when they arrived on the farm, they grew to<br />
understand the crop they were planting and were ready to take on their<br />
own farms. However, none of it was planned.<br />
The community was quite structured. They had a development board that<br />
could mobilize people. So getting hands wasn’t an issue and the Fulani<br />
men didn’t need training because most of them were already small scale<br />
farmers.<br />
During planting time, the men they employed accepted about 500 Naira<br />
per day. But at harvest time, being that they saw the urgency for Kereksuk<br />
Farm to harvest quickly, these men tripled their prices, including the time<br />
taken to clear the land. So if they were to clear in one day, they did it in<br />
three days, collecting thrice the amount per day. It became too expensive<br />
and at a point, Rotimi and his team had to leave Nasarawa to Niger state<br />
in search of labourers.<br />
On seeing the issue at hand, the Farm’s security guard offered to bring his<br />
sister, wife and others to do the work. The next day, 50 women showed<br />
up and they worked amazingly well. Rotimi requested for more and the<br />
numbers kept increasing.<br />
As a result, they created a program where the women were taught the<br />
planting cycles – from planting to harvest for both dry and wet seasons.<br />
A part of the land and resources were allocated to them to develop and<br />
afterwards, they could sell back to Kereksuk Farm.<br />
The initiative didn’t run fully in 2017 because of the need to put a few<br />
things into perspective. “I had to procrastinate on some things. So for<br />
me procrastination is fantastic. It’s a gift, so I procrastinate a lot,” Rotimi<br />
gleefully stated. “The time you spend thinking about a particular thing<br />
helps you see a lot more details that others are blind to.”<br />
For Rotimi, farming is a lifestyle. So it only makes sense to get it right.<br />
There’s no harm in stopping, tweaking the strategy and moving on.<br />
Opportunities in Agriculture<br />
With Agriculture moving at a very fast pace, more farms will spring up and<br />
there’ll be less available land for cattle to graze on. For this reason, dairy<br />
and beef production will become a necessity in the nearest future.<br />
Rotimi explained that the crisis between the Fulani herdsmen and the<br />
farmers exists partly because the country developed without developing<br />
the Fulani. These people have been grazing on these lands for hundreds of<br />
years, and we’ve been buying the meat. However, due to the sudden push<br />
for Agriculture, grazing land has become competitive.<br />
By rearing cattle for commercial purposes, with quality, exportable meat in<br />
mind, while creating a sustainable way to provide more grazing land for<br />
the Fulani, it could create opportunities in areas like cattle feed production,<br />
cattle rearing or dairy production, meat processing and sales. This would<br />
help us compete with other African countries that don’t even have as much<br />
cattle as we do but seem to have gotten it right.<br />
“There are opportunities everywhere. For everything I complain about<br />
today, it’s an opportunity for someone else to create a solution. And that’s<br />
a great thing about this country; there are so many problems that just<br />
need one smart guy to create a solution.”<br />
Rotimi started planting rice to address the problem of rice importation<br />
which to him, wasn’t helpful. It was his solution to the importation problem<br />
he spotted and as nature would have it, the environment was conducive<br />
enough to start. Now, many Nigerians have developed the courage to<br />
move in this direction. With the move to stop rice importation, as stated in<br />
President Buhari’s speech on the 1st of <strong>January</strong>, <strong>2018</strong>, hopefully our local<br />
rice will now become readily available and affordable, giving rice farmers<br />
an opportunity to thrive.<br />
14<br />
@thesparkng
www.thesparkng.com<br />
The Spark | Ignite/Connect/Achieve<br />
Start Big or Die Trying<br />
“Starting big is a big mistake because agriculture is the fastest way to lose<br />
money,” Rotimi stated. The only thing you can control is putting the seeds<br />
in the ground and applying the fertilizers. You’re neither in control of the<br />
seed production nor nature which enables growth.<br />
It’s a gamble to start on a large scale for something you’re not fully in<br />
control of. Initially, Rotimi was raising 130 million dollars to develop 17,296<br />
hectares. Unfortunately, the money didn’t arrive and he is more than<br />
happy that it didn’t. “I’m glad it didn’t come through because if I invested<br />
that money into the project at once, we would never have understood the<br />
market and nature fully.”<br />
There are a lot of things to understand before pushing for growth. But the<br />
resources required for that growth must be available, which is land.<br />
Developing thousands of hectares at once is not advisable. Smart people<br />
will look for data first. And Rotimi reduces his risk by leveraging historical<br />
data in the industry.<br />
The common misconception about Rotimi’s success is he had a lot of<br />
money in order to acquire the land he presently uses. On the contrary,<br />
Rotimi offered the land owner a percentage of profits and acquired the<br />
land on lease for a number of years without having to buy it. His idea was<br />
to start small in the best way possible.<br />
Luck or not, Rotimi believes in being prepared to take it when it comes. To<br />
him, preparing ahead is important because the chance to break out will<br />
always come.<br />
Policies and Legalities<br />
It’s important to be smart about the kind of agro-business you start,<br />
because choosing an area that’s of national interest makes fund acquisition<br />
easy. For example, in crop farming, crops like cocoa, cassava, cashew, rice,<br />
soya beans and maize are more likely to attract funding than crops like<br />
tomato or pepper. “There has to be a reason for picking a crop,” Rotimi<br />
advised. “You must either have a ready market, or be able to forecast<br />
profits in future. But policies are different, so first find out what the policy<br />
is for whatever crop you choose.”<br />
Another important factor is land. Spending money on acquiring land is<br />
pointless if you can always lease, which was Rotimi’s primary strategy as<br />
it reduces risk of loss to indigenes. “A Perfected Lease document is as<br />
good as a C of O because it gives you ownership for a certain period of<br />
time. My lease is for 50 years,” Rotimi stated, with a sign of satisfaction<br />
on his face. “When it comes to payments, offer them a percentage of<br />
your profits and put a representative on your board. That reduces risk for<br />
you because they get a sense of ownership of the project and it’s more<br />
likely to succeed because they’ll make sure you’re safe by protecting the<br />
business. Just ensure the money they get is used properly so everybody in<br />
the community is happy. That way, you’re already using the property but<br />
paying for it in bits.”<br />
Agro-Business Education<br />
Education comes in different forms; people can always self-educate or go<br />
to an institution. For Rotimi, he believes that every Professor has an article<br />
on Google. So he self-educated himself through online research and with<br />
the help of an Agronomist, implemented what he read.<br />
However that may not work for all things as some need experts. Learning<br />
only from experience can be risky and more expensive.<br />
For Rotimi, mentorship is a little overrated and can be a dream killer if the<br />
mentee isn’t intentional about his personal journey. So he always preaches<br />
self-belief and his reason is simple; “I can tell people my experience, but<br />
since my experience and yours will be different, it’s left to you to pick what<br />
makes sense from it and dump the junk. But that should never determine<br />
your own journey.” Rotimi firmly believes that if you want to do anything,<br />
you shouldn’t have to depend on anyone who has done it before. You<br />
should be able to try it for yourself.<br />
As a hobby, Rotimi paints. As we sat in the Café, he proudly pointed to<br />
some of his works which hung beautifully on the walls and gladly showed<br />
me more paintings on his Instagram page. He paints for fun, but when<br />
he started it never really made sense. He started small, but people only<br />
appreciated it when the results showed forth.<br />
He only started painting in December 2016 when he purchased a painting<br />
in an art exhibition in Abuja. “On taking it back to my room, I started<br />
wondering why I spent so much money on the painting. It took sleep<br />
from me,” He chuckled as he recalled the experience. He then decided<br />
to duplicate the painting and to learn the art, he had to watch an artist<br />
paint while he practiced himself, using online videos as a support learning<br />
tool. By May 2017, Rotimi was able to sell some of his paintings in Lagos<br />
for some good money. For him, he didn’t need to go to art school to sell<br />
paintings. Self-education did the trick.<br />
On Growth<br />
“As it grows, the smart thing to do will be to involve my wife more so that<br />
we don’t spend too much time apart. Otherwise there’ll be problem.” He<br />
stated as he relaxed back on his seat, smiling. His goal is to become more<br />
of a corporate farmer than an active one, so he has more time to think<br />
of how to grow the business, while an expert who knows the business<br />
oversees it. He understands that he can’t get rich by always standing on<br />
the farm.<br />
“I’ve been in this business for about 5 years. And if you start seeing any<br />
decent profits before 5 years, then something is wrong,” He stated. “It<br />
probably means you’re no longer scaling or there’s something you’re not<br />
doing.”<br />
It’s possible to make good money in the first year of harvest. However, it<br />
isn’t to be splurged but should be reinvested back into the farm or kept<br />
aside to withstand shocks in coming seasons. And that should be done<br />
consistently for at least 5 years, according to Rotimi. By then, there’ll be<br />
more stability and expectations are better tailored.<br />
Agriculture is wide and there are different funds for different parts. Before<br />
starting, Rotimi says it’s better to use the different funds available to guide<br />
your decision, especially if acquiring funds is part of the plan. There has<br />
to be interest or a market. “The bank for me is a no-go area for now. Start<br />
small, grow organic. If you put a brick at a time, you’ll be able to withstand<br />
shocks,” he strongly remarks.<br />
0.2 Million Naira For One Youth<br />
Youth empowerment is hinged on policies. And in order for the government<br />
to successfully create jobs, their policies have to be well thought out. “The<br />
truth is if prices of fertilizers, herbicides, and pesticides drop, most crop<br />
farmers won’t need banks. But at this level where those prices are high,<br />
some farmers will always have to look for external funding,” Rotimi stated<br />
with much displeasure.<br />
“Funding is not the only problem with small businesses. Many of them also<br />
think small,” He stated, as he mixed local honey with his tea. To him,<br />
business owners need to spend 80% of their time thinking about how<br />
specific things will work and 20% implementing.<br />
To help one young entrepreneur bring that agro-business dream to reality,<br />
Rotimi will be giving off 0.2 million Naira in funding, including all access to<br />
his knowledge and experience to one youth.<br />
Would you be the one? See page 33 for how to apply now.<br />
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The Spark Connect<br />
Uzoamaka Aniunoh<br />
Meets Emem Isong<br />
The Spark connects Uzoamaka Aniunoh – writer and actress, with Emem<br />
Isong, Screenwriter, movie producer and Co-founder Royal Arts Academy.<br />
Uzoamaka gets empowered with a scholarship to study at Royal Arts<br />
Academy.<br />
- By Lanre Solarin<br />
Nothing beats pushing hard to break mental boundaries in order to express yourself<br />
using your gifts and talents. This was the case with Uzoamaka Aniunoh, a creative<br />
writer and actress who, after passing up several opportunities due to self-doubt,<br />
decided to go public with her art, sharing creative stories and participating in programs.<br />
In an interview with The Spark in July 2017, Emem Isong, screenwriter and award winning<br />
movie producer, gave off a scholarship at her academy – Royal Arts Academy – for<br />
anyone interested in acting, directing or screenwriting. On seeing this empowerment<br />
opportunity, Uzoamaka gave it her all by submitting her application, amongst several<br />
other young people like her looking to achieve success.<br />
Uzoamaka emerged the best, and in November, 2017, had the opportunity to meet her<br />
benefactor, Emem Isong. A big congratulations to her, and to every youth striving to make<br />
a difference.<br />
Apply now and get empowered. See page 33 for details.<br />
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Vital Signs<br />
On Mental Health In The<br />
Workplace<br />
The thought of starting another busy work year must have been heavy on the minds of some as<br />
<strong>2018</strong> began. But how can managers respond to mental health issues in the workplace?<br />
- By Dr. Anne Mbonu<br />
Mental health problems are often hidden in plain sight,<br />
like an open secret. They are the proverbial elephant<br />
in the room. No one really wants to talk about mental<br />
health and we’d like to pretend that it’s not an issue but it is<br />
and we must acknowledge it, because the consequences of not<br />
doing so are potentially devastating to individuals and to those<br />
close to them.<br />
What Is Mental Health?<br />
Let’s begin at the beginning. The World Health Organization<br />
defines mental health as “a state of well-being in which every<br />
individual realizes his or her own potential, can cope with the<br />
normal stresses of life, can work productively and fruitfully, and<br />
is able to make a contribution to her or his community”.<br />
Mental health therefore, is not simply the absence of mental<br />
illness, but rather the status of being psychologically, emotionally<br />
and behaviourally well adjusted. This would enable people to<br />
achieve a satisfactory level of social functioning, to develop and<br />
maintain meaningful and positive relationships at home, at work<br />
and at play.<br />
In short, mental health is the capacity to live a full and productive<br />
life and to enjoy that life. In order to accomplish this, you have<br />
to be able to interact with other people in a way that is mutually<br />
beneficial. After all, no man is an island, and relationships are the<br />
cornerstone of successful living.<br />
By extension, mental illness being the absence of mental health,<br />
could manifest as the lack of a clear personal identity, limited<br />
psychological and emotional resilience and poor social<br />
functioning. This often culminates in the inability to successfully<br />
accomplish the usual activities of daily living such as sustaining<br />
meaningful relationships, coping with the usual stresses of life,<br />
producing good quality work, having a good opinion of yourself<br />
and fulfilling your potential.<br />
to diagnosis and treatment is only very slowly improving and<br />
both employers and the government need to work together to<br />
improve access to diagnosis and treatment.<br />
Productivity<br />
Poor mental health and wellbeing in the workplace negatively<br />
impacts on productivity. Chronic stress due to high workloads<br />
and time pressures is probably the commonest problem<br />
encountered in the workplace, and this stress often leads to burn<br />
out. Other common problems are angry outbursts, misplaced<br />
aggression, and low self-esteem as a result of failing to meet<br />
personal and organisational goals. Once the vicious cycle is<br />
initiated, it can become self-sustaining, leading to a steady,<br />
inexorable decline in performance.<br />
“<br />
It is challenging to<br />
accurately compute how<br />
many hours of work are<br />
lost due to mental health<br />
related problems, but it<br />
certainly runs into millions.<br />
“<br />
The image of mental illness that people usually conjure up in<br />
their minds is that of a person experiencing a full blown psychotic<br />
episode. However, other mental health problems such as stress,<br />
anxiety, mood disorders, personality disorders, suicidal ideation<br />
and addiction are far more pervasive and chronic, leading to a<br />
lasting impact on people’s lives.<br />
The stigma surrounding mental health makes it difficult for<br />
people to come forward and seek help or treatment. Access<br />
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Quality of Work<br />
In the workplace, declining mental health and wellbeing can manifest as<br />
sub-standard quality of work, poor judgement and decision making,<br />
frayed tempers leading to excessive conflict between colleagues and<br />
ultimately, high staff turnover. Affected individuals cannot produce their<br />
best work, therefore businesses suffer revenue losses.<br />
It is challenging to accurately compute how many hours of work are lost<br />
due to mental health related problems, but it certainly runs into millions.<br />
Although no specific local data exists, it is clear that a significant percentage<br />
of the country’s Gross Domestic Product (GDP) is lost as a result.<br />
How to Improve Mental Health In The Workplace<br />
Quite obviously, this is a mammoth challenge so the approach to tackling<br />
it must be multi-pronged.<br />
1. Create Awareness<br />
Firstly, it is critical for everyone to be made aware of what constitutes a<br />
mental health problem, and what the common manifestations are. This<br />
will enable affected persons and those close to them to acknowledge and<br />
recognise what they are going through, and hopefully seek help.<br />
Too often, people soldier on in adverse conditions for fear of being<br />
labelled weak, soft, attention-seeking, or worst of all, crazy. But this<br />
approach is counterproductive because it inevitably leads to unpalatable<br />
outcomes that could have been otherwise avoided.<br />
To promote awareness, corporate organisations can and should have<br />
policies that promote mental health and wellbeing in the work place, and<br />
put in procedures for dealing with mental health issues. Managers and<br />
others in a supervisory capacity should be trained to recognise and act<br />
upon early warning signs that people are not coping such as repeatedly<br />
turning up late for work, disappearing for unaccounted periods of time<br />
during the working day, not delivering pieces of work on time or having<br />
inappropriate altercations with colleagues and managers.<br />
2. Appoint a Mental Health Champion<br />
Another approach would be to have a designated mental health champion<br />
within the organisation’s ranks, whose primary role would be to generate<br />
communications about mental health and wellbeing such as bulletins<br />
pinned to prominently placed notice boards, informational emails, staff<br />
awareness workshops, and if possible, ring fenced time for people to come<br />
and discuss their issues with the mental health champion in a dedicated<br />
space.<br />
must also recognise that their workforce is their key resource, and should<br />
therefore develop an approach which emphasizes a good work life balance<br />
and personnel development, as opposed to the prevalent ultra-competitive<br />
approach that drives employees to work as many hours as possible, and<br />
favours short term delivery over long term strategic objectives.<br />
It is well known that employees that feel well supported by the management<br />
team produce higher quality work, have higher job satisfaction rates<br />
and are more loyal to the organisation, which culminates in better staff<br />
retention.<br />
3. Educate Yourself<br />
Entrepreneurs and the self-employed are a class apart - they are the<br />
employee and they are the corporation. Therefore it behoves them to have<br />
a higher level of personal responsibility for their own mental wellbeing.<br />
They have the advantage of setting their own hours, workload and delivery<br />
timescales, juxtaposed with the challenge of having to manage their<br />
responsibilities without any external assistance, guidance or compulsion.<br />
For this group of people, the internet is an important ally, being an almost<br />
unlimited source of information. If you’re in such a group, you should<br />
proactively educate yourself about mental health and wellbeing, and<br />
endeavour not to sacrifice your mental health and wellbeing on the altar<br />
of success. It is even more important to maintain a good work-life balance,<br />
since it is all too easy for your quest to accomplish your vision to consume<br />
and overwhelm you.<br />
4. Join a Support Network<br />
It is critical that entrepreneurs and self-employed people form support<br />
networks, actively initiating and maintaining contact with relevant<br />
professionals and partners, to avoid isolation which can reinforce negative<br />
and unhelpful patterns. This should serve them well when their businesses<br />
grow as they can pass on their learning to future employees, thereby<br />
further increasing their chances for business success.<br />
The key point to take away is that mental health and wellbeing in the<br />
workplace is a critically important prerequisite to organisational success.<br />
Historically, mental health has been a taboo subject, but the winds of<br />
change have begun to blow, and optimism is warranted.<br />
While we wait for organisations and the government to implement<br />
strategic policies and programmes to improve population mental health,<br />
you should take personal responsibility to educate and protect yourself,<br />
and to seek help from the appropriate quarters wherever possible.<br />
It would not be excessive for the organisation to recruit or retain the<br />
services of a trained mental health professional. Giving the problem an<br />
acceptable human face can encourage people to come forward, and<br />
hopefully help to destigmatize mental health issues.<br />
Information about getting enough sleep, healthy eating and exercise<br />
should be regularly disseminated and reinforced as these promote<br />
psychological resilience. Organisations could also put procedures in place<br />
for staff to take a reasonable break during working hours.<br />
It would be desirable for corporations to collaborate with governmental<br />
and non-governmental agencies to create “mental wellbeing at work”<br />
campaigns.<br />
Of course, this must be within the context of the broader government<br />
responsibility to deliver mental health services for the entire population.<br />
To the extent that organisations want to maximise their productivity, they<br />
More on mental health? Send us your questions. See page 33.<br />
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Features<br />
15 Organisations Investing In<br />
Nigerian Agro-Businesses<br />
Looking to fund that great idea? Look no further. This list has been compiled to serve as a<br />
resource so you have 15 different places to look for funding, and how to go about it.<br />
- By Ayandola Ayanleke<br />
Agriculture and agro-business is fast becoming a major<br />
focus in Nigeria, especially since the economic recession<br />
that visited the country in recent times. The devastating<br />
effect of the recession made it necessary to look into other<br />
economic opportunities apart from oil and gas. And as necessity<br />
is the father of creativity, the many opportunities in agriculture<br />
are becoming more obvious. However, despite having creative<br />
ideas, for a lot of start-ups, funding is a major issue. It would not<br />
be if people had the right information on organisations that have<br />
taken it upon themselves to help agro-businesses with funding.<br />
Here are 15 organisations you can approach for investment if<br />
you run an agro-business.<br />
1. African Enterprise Challenge Fund<br />
(AECF)<br />
The organisation is a US private fund that provides monetary<br />
support to businesses in 24 Sub-Saharan African countries,<br />
including Nigeria. With the aim of reducing rural poverty, they<br />
have been rendering support to businesses in agriculture,<br />
renewable energy as well as rural financial services and<br />
communications systems that support the two sectors. With the<br />
help of their funding partners, they have funded 257 businesses<br />
across 24 countries in Africa.<br />
To be a beneficiary of the AECF fund, you would have to apply on<br />
their website at https://www.aecfafrica.org and then go through<br />
a selection process, after which selected applicants are awarded<br />
the grant. The grant usually comes with post-awards conditions<br />
that would be made clear before the grants are awarded. And<br />
after the initial disbursement of funds, the AECF monitors their<br />
beneficiaries quarterly or semi-annually before other funding is<br />
made.<br />
You can contact AECF by visiting them at The AECF, West End<br />
Towers, Kanjata Road Off Muthangari Drive / Waiyaki Way,<br />
Nairobi, Kenya or call +254 0703 033 394 or send them an email<br />
at info@aecfafrica.org.<br />
2. Bank of Industry<br />
The Bank of Industry is an organisation that is saddled with the<br />
responsibility of transforming Nigeria’s industrial sector.<br />
Therefore, they offer loans to manufacturing and processing<br />
businesses. The bank does not offer loans to individuals or group<br />
of persons but to enterprises and they have to be registered.<br />
They also do not offer cash to the beneficiary; instead they pay<br />
vendors and suppliers directly. Their loans start at 5 million Naira<br />
but there is provision for less than that.<br />
To apply, you have to be certain your product is among the<br />
products BOI supports. Funding for start-ups is at the bank’s<br />
discretion but the start-ups would need to have proof of<br />
performance before they can be considered. You can visit their<br />
website https://www.boi.ng/apply/ for more information.<br />
3. Bank of Agriculture<br />
Similar to the Bank of Industry, the Bank of Agriculture has a<br />
mandate by the Federal Government to support small and<br />
medium agricultural enterprises as well as non-agricultural<br />
enterprises. BOA has disbursed about 41 billion Naira to over<br />
600 enterprises across the country in the last ten years. They get<br />
the beneficiaries by partnering with other institutions, such as<br />
Bank of Industry.<br />
To secure a loan, you will need to have had a customer account<br />
with them for at least six months and must have deposited 20%<br />
of the required loan, must have a collateral excluding landed<br />
property and have a detailed business plan. The bank, luckily,<br />
has branches across the country or you can also send them an<br />
email at cp@boanig.com.<br />
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questions as well as upload some documents. If selected, you stand to<br />
gain not only funding, but also mentorship and a strong support system<br />
that would all see to your success. You can visit them at Heirs Place, 1<br />
MacGregor Road, Ikoyi, Lagos – Nigeria, call them at +234127746415 or<br />
send them an email at info@tonyelumelufoundation.org.<br />
4. SMEDAN<br />
SMEDAN, which stands for Small and Medium Enterprises Development<br />
Agency of Nigeria, was established to initiate growth and development<br />
of small and medium enterprises. The organisation has different types of<br />
loans; the business loan, personal loan, mortgage loan and credit cards.<br />
The loans are divided based on size of fund, interest rate and the type of<br />
business to be funded. The organisation serves as a link between you and<br />
loan providers based on the type of loan you apply for.<br />
To access this, you must fill in your information on their website and<br />
afterwards they suggest different loan providers for you based on your<br />
information. You can contact them at 35, Port-Harcourt Crescent Area 11,<br />
Garki, FCT-Abuja, Nigeria or simply visit their website at<br />
http://cip.smedan.gov.ng/<br />
7. Seedstars<br />
Seedstars is a Swiss-based non-profit organisation. Their focus is<br />
investing in entrepreneurship ventures and technology in<br />
emerging markets around the world. In their popular competition,<br />
they invest up to $500,000 in the winning start-up company of<br />
any industry. The competition is run locally, regionally and at the<br />
global level in Switzerland.<br />
You apply by going to their website at https://www.seedstarsworld.<br />
com/ to apply and be ready to pitch your ideas to a jury. For further<br />
information, you can send them an email at info@seedstars.com.<br />
5. Agri-Vie<br />
Focusing mainly on food and agro-business in Sub-Saharan Africa, Agri-<br />
Vie is a private equity investment fund that seeks to address development<br />
impact challenges. For close to ten years now, since their establishment<br />
in 2008, they have invested a lot of money into value. Their ability to<br />
recognise value or its potential has made it possible for them to make<br />
impact in the region. But for rare cases when they invest in stand-alone<br />
primary production, Agri-Vie only invests in food and agro-business value<br />
chain.<br />
Their focus is on food and beverages, dairy products, food logistics,<br />
health and wellness products, convenience food, forestry and timber<br />
agricultural inputs such as seeds and fertilisers, and renewable energy.<br />
Before any offer is made, the organisation will take a space of 12 to 16<br />
weeks to evaluate the application based on prospects, capital structure,<br />
terms for the shareholders agreement among others. Agri-Vie is situated<br />
at Barinor’s Vineyard South, The Vineyards Office Estate, Bellville, South<br />
Africa, 7530 and you could call them on +27 (0)21 913 5662 or email them<br />
at office@agrivie.com<br />
8. The United States African Development<br />
Foundation<br />
Focused on agriculture, off-grid energy and youth-led enterprises, the<br />
USADF is an independent US government initiative established by<br />
the congress to assist economic activities that improves lives in poor<br />
communities in Africa. Since inception, they have invested about $53<br />
million in 500 active enterprises. Timely, the USADF calls for proposals<br />
from 100% African enterprises in the agricultural sector. However, they<br />
have different specific sub-sectors that they consider for each country. For<br />
Nigeria, it is rice, sorghum, cassava and aquaculture. You can get more<br />
comprehensive information at their website http://www.usadf.gov/apply/<br />
or send an email to Nigeria@usadf.gov.<br />
9. Acumen Fund<br />
6. Tony Elumelu Foundation<br />
Founded in 2010 by Tony O. Elumelu, TEF is an African non-profit<br />
organisation founded to support philanthropic goals across Africa<br />
in order to drive Africa’s development. Since then and when the TEF<br />
Entrepreneurship programme was launched in 2015, the foundation has<br />
supported many businesses across Africa, including agro-businesses.<br />
You can apply into the TEF Entrepreneurship Programme by visiting their<br />
website at http://www.tonyelumelufoundation.org/ to answer certain<br />
Acumen Fund was founded in 2001 by Jacqueline Novogratz to alleviate<br />
poverty using entrepreneurship. Acumen, however, started investing<br />
in West Africa in 2011. Since then, they have invested in six companies,<br />
including Esoko, a mobile platform that provides agronomic tips and<br />
market prices to rural farmers. Usually, they provide patient capital that<br />
provides start-ups with the flexibility and security to grow their business.<br />
You can contact their West African office at A&C Square, No. 14 Jungle<br />
Road, East-Legon, P.O. Box CT8740, Accra, Ghana or call +233 030 298<br />
4098 and you can also visit their website https://acumen.org/ for more<br />
information.<br />
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10. CDC<br />
For over 60 years, CDC has been supporting businesses that have the<br />
highest impact in Africa and South-East Asia. They have a strict adherence<br />
to responsible investing, so they only invest in enterprises that would<br />
not make them lose money. Therefore, they expect their investment to<br />
achieve results that are proportional to the risks and opportunities in the<br />
specific market. CDC’s focus is centred on but not limited to infrastructure,<br />
manufacturing, health, education, food-processing and construction. You<br />
can be a beneficiary by submitting a proposal and after review, you stand<br />
the chance of being offered monetary support. If you want to get in touch<br />
with them, you can through their contact page at http://www.cdcgroup.<br />
com/Get-in-touch/Contact/.<br />
13. African Development Bank<br />
Founded in 1964, the organisation was established to alleviate poverty<br />
and improve living conditions in Africa. The African Development Bank<br />
consists of three entities; the African Development Bank, the African<br />
Development Fund and the Nigerian Trust Fund. Based on the economic<br />
recession that Nigeria faced, focus have been shifted to entrepreneurship<br />
in the sectors of agro-business, manufacturing and mining. The bank is<br />
therefore tasked with providing funding for budding entrepreneurs with<br />
creative economic ideas, especially in the sectors listed above. You can<br />
contact them at African Development Bank Group, 1521 Cadastral Zone<br />
A0, Off Memorial Close, Central Business District, Abuja or call them on<br />
234 94621030-59.<br />
11. Ford Foundation<br />
Ford Foundation is a New York based private organisation aimed at<br />
advancing welfare worldwide. They believe in harnessing the opportunities<br />
provided by the West African political circumstances to address inequality<br />
in the region. Therefore, the Ford Foundation provides grants to ideas<br />
that would ultimately improve economic equality. If you are interested in<br />
applying for their grant, you can submit an application at https://www.<br />
fordfoundation.org/work/our-grants/idea-submission/ and they will get<br />
back to you in 45 days.<br />
14. Startpreneur<br />
Startpreneur is a Nigeria startup accelerator that helps small and medium<br />
enterprises in the country start up and grow their business. The<br />
organisation, through an efficient team, does not only provide financial<br />
support but also hands-on guidance to help the budding entrepreneur<br />
develop. The organisation takes the entrepreneurs through a threemonth<br />
accelerator program to make them investment-ready as well as to<br />
ensure success of the business. You can apply to be a part by sending an<br />
email, which should include your executive business summary, to them at<br />
entrepreneurs@startpreneurs.com.ng.<br />
12. YouWin<br />
YouWin is an initiative of the Federal Ministry of Finance aimed at<br />
supporting young entrepreneurs to grow their business. To be able to<br />
apply for YouWin, you have to be a Nigerian and resident in Nigeria, must<br />
have post-secondary school education, have to be between the ages of<br />
18 and 40 and must not be in the civil service. Their focus is mainly on<br />
agriculture/agro-processing, ICT, retail, construction, and manufacturing<br />
among others. Application is done through their website at www.<br />
youwinconnect.org.ng.<br />
15. Wennovation Hub<br />
With focus on social impact sectors, such as agriculture, education,<br />
healthcare and infrastructure, Wennovation Hub is a Nigerian innovation<br />
accelerator that empowers entrepreneurs in order to achieve sustainable<br />
development for Africa. The organisation does this by providing services<br />
such as investing, management training, consulting, co-creation and<br />
providing co-working spaces among others. You can contact them by<br />
sending an email to them at info@wennovationhub.org.<br />
It is obvious that the issue with starting up a business in Nigeria has more<br />
to do with lack of information than unavailability of funds. With the right<br />
information at your disposal and harnessing that information, you are on<br />
your way to having the business of your dreams.<br />
22<br />
@thesparkng
Social Entrepreneurship and<br />
Sustainable Development<br />
There will always be problems that need to be solved. While the Government<br />
has its role to play in making these problems go away, it has become evident<br />
that if sustainability is what we want, social entrepreneurship is a viable<br />
solution. This is how we can create the change we seek.<br />
- By Damilola Oyewusi<br />
“<br />
Sourcing for<br />
grants and<br />
donations<br />
gets worse for<br />
young people<br />
who have a<br />
heart for doing<br />
social good.<br />
“<br />
Outside of the public sector, Non-Governmental<br />
Organizations and other not-for-profit bodies<br />
have also contributed their quota. However,<br />
sourcing for grants and donations to keep up with<br />
social good is not the easiest venture. It gets even<br />
worse for young people who have a heart for doing<br />
social good. While those with connections are able<br />
to encourage traditional corporate organizations to<br />
fund good causes as Corporate Social Responsibility,<br />
the focus is usually on the ROI, be it in terms of<br />
goodwill (tax rebate) or preferably, figures.<br />
In addition to the financial challenges and ingrained<br />
in the problem of ill-structured projects, is the<br />
fear of maintaining the circle of an aid-dependent<br />
generation. While the ‘haves’ may have some moral<br />
responsibility to be of help to the ‘have nots’, it is<br />
also important to avoid encouraging a sense of<br />
helplessness laced in an entitlement mentality. No<br />
society can sustain a top to bottom approach of<br />
providing solutions to problems that fester beyond<br />
the wallets and pots to the mindset of people.<br />
The solutions have to be more holistic, combining<br />
features that would solve these two major problems<br />
of funding and inclusivity. To have a chance at<br />
achieving the SDG goals, we must find a way to<br />
include the stakeholders directly affected by each<br />
problem in the development of their respective<br />
solutions, in a way that can be sustained on the<br />
resources immediately within their reach. This is a key<br />
offering of Social Innovation and Entrepreneurship<br />
(let’s call it S.I.E. hereafter). And to see more and<br />
more young people take up the challenge of creating<br />
social enterprises is not only heartwarming but most<br />
welcome.<br />
S.I.E. can provide an integrated solution to the root<br />
causes of many social problems across the state. In its<br />
true form, the horizontal engagement of stakeholders<br />
not only spurs a culture of responsibility, it is also<br />
a way to erode the entitlement mentality. Social<br />
innovation will put a spotlight on opportunities<br />
hidden within social and economic problems and<br />
empower everyday individuals to be their own wind<br />
keepers with the key goal being sustainability.<br />
This does not render the public sector’s role<br />
redundant in socio-economic development. Rather,<br />
it gives the citizens the right tools to know, the right<br />
questions to ask and the type of support to demand.<br />
Grooming a citizenry that is informed, genuinely<br />
concerned and actively involved in improving<br />
their own standard of living will turn out to be the<br />
most effective way of achieving the Sustainable<br />
Development Goals.
The Spark | Ignite/Connect/Achieve<br />
www.thesparkng.com<br />
Start Up<br />
Your Career In <strong>2018</strong><br />
Resolutions are typical in the New Year and young professionals will be clearly interested in setting career goals. Is there<br />
any framework or approach to consider in planning your professional path in a new year? Here are a few ideas for assessing<br />
your current position and defining a clear path to measurable success in the year <strong>2018</strong>.<br />
- By Emmanuel Tarfa<br />
This article will not focus on the science of goal setting or<br />
analyze the statistics of how many new year resolutions fail.<br />
We will, however, be concentrating on the practical ways for<br />
evaluating your capabilities and setting targets.<br />
Evaluating Your Current Position<br />
Firstly, in planning (preparing for the future), you have to define<br />
your overall objective – what do I want to achieve professionally<br />
in <strong>2018</strong>?<br />
After that definition of purpose, a Current State Assessment is<br />
usually the second step. This is the process of assessing the<br />
current capacity, ability, achievements and general status of<br />
such an entity – typically a business or an individual. The current<br />
state determines a starting position and is the yardstick for<br />
assessing progress or change. It also provides a component in<br />
the compass for defining the bearing of progress – where you<br />
are today versus where you seek to be in a defined period.<br />
In the light of the proposed plan to use a practical approach, we<br />
will be recommending a popular analytical tool for assessing<br />
your current state – SWOT Analysis. SWOT is an acronym for<br />
Strength Weakness Opportunities and Threats. It is useful in<br />
revealing if you have the capacity to achieve your goals and<br />
reveals in some cases why you failed to achieve previously set<br />
goals. This exercise will help you critically determine what it will<br />
take to succeed. For instance, there is no need to set ambitious<br />
career goals if there are clear weaknesses in your capability to<br />
achieve them in the near term.<br />
So here is a hypothetical approach to conducting a SWOT<br />
analysis for yourself, though not exhaustive.<br />
Strengths<br />
• Above average skill sets in highly sought-after areas such as<br />
writing, selling etc.<br />
• Possesses relevant and highly sought-after certifications<br />
and competencies to back capability claims etc.<br />
Weaknesses<br />
• Procrastinates work and never meets deadlines.<br />
• Not very good with some other required skill sets etc. –<br />
[could be the reverse of the above scenario].<br />
Opportunities<br />
• Works for a big organization and earns an above-average<br />
salary or just has access to funding to pursue plans.<br />
• Is well-traveled and exposed etc.<br />
Threats<br />
• Current organization has few options for professional<br />
growth and progression.<br />
• Earns too little to pursue desired capacity building<br />
initiatives.<br />
In conducting a SWOT analysis, you need to know that the<br />
Strengths and Weaknesses are internal factors, usually within<br />
your power to change them. While Opportunities and Threats<br />
are external factors and can only be leveraged or prepared for<br />
respectively.<br />
How do I conduct my SWOT Analysis?<br />
You can use various personality assessment tests available online<br />
or just ask sincere and objective peers to evaluate you. Not<br />
common but powerful if objectively done. Strengths can be<br />
increased while weaknesses should be objectively identified<br />
as they pose the threat to prevent progress and leave you in a<br />
perpetual cycle of no-progression.<br />
It is only when these weaknesses are identified that help can be<br />
sought. Opportunities are best pursued through wise counsel,<br />
hence the need for a professional mentor, if without one; this is<br />
the same for threats – mentors. Also note, SWOT Analysis can be<br />
24<br />
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The Spark | Ignite/Connect/Achieve<br />
customised for specific aspects, for instance, there is a difference<br />
between my personal SWOT analysis as an individual and that of<br />
my profession/career.<br />
Setting And Achieving The Goals<br />
With a clear knowledge of your SWOT, you can now set achievable<br />
targets and have a higher probability of achieving same. For<br />
setting targets, there is a popular framework – SMART. This is<br />
an acronym for Specific Measurable Achievable Realistic and<br />
Time-bound. Though your goals have to conform to this list,<br />
we, however, seek to discuss goals in a different perspective –<br />
to facilitate a higher chance of getting results. Here are some<br />
simple but effective recommendations.<br />
“<br />
Strengths and<br />
Weaknesses are<br />
internal factors, while<br />
Opportunities and<br />
Threats are external<br />
factors.<br />
“<br />
1. Keep your professional goals few or<br />
possibly to just one thing.<br />
This is the hardest part for most to consider – though simple.<br />
Nobody wants to believe it only takes focus on a single line of<br />
action to get great results. Here is a hypothetical case to illustrate<br />
the point. If your goals are to travel, buy a car or just have a<br />
better life in short – the fundamental issue is tied to earning<br />
much more money. You have to realize that this can be achieved<br />
by changing your job or moving to a higher paying industry.<br />
This will usually come at a price – a new certification, new skills<br />
etc. Therefore, your focus should be concentrated on achieving<br />
that desired skill that will eventually translate to all of the above.<br />
Most young people would instead pursue the certification<br />
but will then want to start one business, volunteer in another<br />
association and add more. At the end, something will either give<br />
way or none is effectively achieved. Being laser focused allows us<br />
to conserve our energy required to generate the force to propel<br />
us to change our lives.<br />
2. Learn to use your idle time.<br />
If in traffic, download audiobooks and podcasts on the subject<br />
that matters to you and listen. You can actually acquire a degree<br />
in Lagos traffic over a year or two.<br />
3. Know your energy hours and use them<br />
to get things done.<br />
For some people, it’s in the mornings, others in the evenings or<br />
when everybody is out of the office. Using what is practical, you<br />
should determine what and when works for you and use it.<br />
4. Apply time management<br />
There are 24 hours in a day divided into three parts. 8 hours for<br />
sleep/rest, 8 hours for work and another unaccounted 8 hours<br />
– use it for personal development. Please don’t say most of it is<br />
used commuting because we just discussed how you can gain a<br />
degree in traffic. A third of your day typically belongs to you. But<br />
if for any reason you work more than 8 hours a day, you have to<br />
recalibrate your other hours and know how much you have to<br />
yourself.<br />
Don’t see this assessment as a waste of time. It takes conscious<br />
effort to grow in your chosen career path. Do a SWOT analysis,<br />
set SMART goals and work consciously to achieve them. We wish<br />
you a successful <strong>2018</strong>.<br />
@thesparkng<br />
25
The Spark | Ignite/Connect/Achieve<br />
www.thesparkng.com<br />
5 Work Habits For <strong>2018</strong><br />
Finding it hard to get back into work mode this year? Here, you’ll find five simple ways to get<br />
back on track and make <strong>2018</strong> your best year yet.<br />
By Lehlé Baldé, MsC<br />
Something magical happens every December 31st, people<br />
worldwide are either praying, partying or looking forward to<br />
<strong>January</strong> 1st. It’s a new day, a new dawn and an opportunity to<br />
become a better version of you!<br />
The new year is upon us and many of you probably spent a few<br />
hours in 2017 thinking about your <strong>2018</strong> goals! It is popular belief<br />
that the new year presents an opportunity for a fresh start, an<br />
opportunity to do things differently, with a fresh perspective and<br />
enhanced motivation. Contrary to popular belief, fortunately or<br />
unfortunately for some, the new year is not a magical pill that<br />
one can take to erase all issues from the previous year, but it<br />
does present you with an opportunity to reflect, re-evaluate and<br />
re-strategize for an even better year.<br />
Getting back to work can be overwhelming for some, especially<br />
after a few days or weeks off for the Christmas holidays. Here<br />
are a few <strong>2018</strong> career tips to get you off to the right start this<br />
<strong>January</strong>!<br />
1. Planning<br />
Planning your time is extremely important. As a busy person,<br />
you may believe that you have one million and one things to do,<br />
and that you have no idea where to start from, but if you took<br />
about 20 minutes each Sunday to plan for your week, you will<br />
find that you feel increasingly in control of your time. Invest in a<br />
diary or notebook and ensure you write all important deadlines,<br />
dates, meetings and work-related goals down. Having an<br />
overview of each month or quarter is also very important,<br />
so take the time draw up the big picture and keep yourself<br />
accountable.<br />
2. Communicate<br />
4. Work-life balance<br />
While it may seem unattainable, it is indeed possible, but only if<br />
you work towards it! Finding equilibrium requires careful<br />
attention. This is where planning for your time is key. Of course,<br />
you cannot plan for everything, but you should be conscious<br />
when to shut off and focus on other aspects of your life such as<br />
family, friends, hobbies and home life. Work is where you spend<br />
the majority of your time, so try to be as efficient as possible<br />
at work, so that when you get home you can unwind and destress.<br />
A lot of people will find this difficult, especially with the<br />
demanding nature of living in Nigeria, but it is important to try.<br />
Keep it at the top of your mind, that in order to be efficient at<br />
work you must have a clear mind, healthy body and you must<br />
be well rested. Inefficiency at work usually starts when one is<br />
neglecting their personal care.<br />
5. Be proactive!<br />
The new year is a perfect opportunity to take your career to<br />
higher heights. Go after that client you thought you could never<br />
get a meeting with, start that project that has been on your mind<br />
for months, reach out to that person or organization you have<br />
been wanting to collaborate with.<br />
In summary <strong>2018</strong>, is your year! <strong>2018</strong> is the year of no fear and the<br />
year of actualization! Remember you have the power to make<br />
<strong>2018</strong> the year to remember! Be proactive and deliberate with<br />
every decision that you make!<br />
Wishing you all a fruitful and blessed <strong>2018</strong>!<br />
Lehlé is a pan African communication strategist and journalist<br />
living and working in Lagos.<br />
At the beginning of the year ask your supervisors what their<br />
goals are for the first quarter and how you can help them attain<br />
their goals. The truth is every supervisor or manager wants<br />
employees he or she can rely on. Make it a habit to check in<br />
with your supervisor at least every week for a work chat to go<br />
over progress and feedback. These regular conversations will<br />
keep you motivated and ready to take on new challenges, as<br />
well as identify areas for improvement and innovation. If you are<br />
a manager, ensure to support your staff and communicate your<br />
expectations and goals. Communication is key!<br />
3. Stay healthy<br />
Try to work out a minimum of 3 times a week and eat balanced<br />
meals. As busy as you may be, it is important to remember to<br />
eat breakfast. Eating breakfast will give you more energy to start<br />
your day off right. Remember to also drink lots of water. Put a<br />
reminder on your phone every hour to have at least one tall<br />
glass of water. A healthy body creates a healthy mind, therefore<br />
physical exercise is key to career success in <strong>2018</strong>. There are plenty<br />
of online resources that can guide you in the right direction. You<br />
can also contact your doctor for more information.<br />
26<br />
@thesparkng
www.thesparkng.com<br />
The Spark | Ignite/Connect/Achieve<br />
Today At...<br />
Onetech Store<br />
In our bid to encourage the spirit of entrepreneurship in our youth, we visit young businesses and with<br />
pictures (and videos), we tell their stories to the world. Today At is simply a start-up feature and mini<br />
documentary showcasing and celebrating their entrepreneurial endeavours.<br />
- By Lanre Solarin<br />
While it is good to celebrate big businesses that already have<br />
millions of customers and show a significant effect on the<br />
economy, it’s also important to recognise that even small<br />
businesses are worth celebrating.<br />
They may not have achieved great feats like their bigger counterparts,<br />
but the beauty worth celebrating lies in what the business has to<br />
offer. Sometimes big things come in small packages, and this is the<br />
case with Onetech Store, an indigenous Technology product hub<br />
company that brings innovative products to the technology market.<br />
We visited Onetech store to take a sneak peek at how they work on<br />
a daily basis. What they do is simple - they identify technological<br />
needs of small and medium enterprises and solve these needs by<br />
partnering with the world leading Original Equipment Manufacturers<br />
(OEM’s) to produce cost effective technological solutions.<br />
Regardless of the size of the business or budget, when it comes to<br />
security surveillance systems, Onetech Store has series of products<br />
that solve any security problems. They put power into the hands of<br />
business owners, enabling them monitor their businesses from any<br />
location, giving them peace of mind in the process.<br />
To further reduce cost and make security surveillance available and<br />
affordable, Onetech Store is planning to setup and launch a CCTV<br />
assembling factory in Lagos Nigeria.<br />
Onetech store is located at Suite H538, Road 3, Ikota complex, VGC,<br />
Lagos and they can be reached via their website: www.onetechstore.<br />
com and email: order@onetechstore.com.<br />
The Onetech Store team<br />
The Team packing materials for a delivery<br />
An ongoing delivery<br />
Onetech Store attending to customers<br />
Onetech Store attending to customers<br />
A brainstorming session at Onetech Store<br />
@thesparkng<br />
27
The Spark | Ignite/Connect/Achieve<br />
www.thesparkng.com<br />
Intune With...<br />
Akintunde Marinho on the Wines and<br />
Winelands of South Africa<br />
It’s the beautiful memories we have that make life colourful. Stay in tune with Akintunde Marinho as he<br />
recalls his travel experience in South Africa and his deep connection with her wines and winelands.<br />
- By Akintunde Marinho<br />
Travelling has always been about adventure, and for me,<br />
adventure is not complete without experiencing the beauty<br />
that the area has to offer. I went to South Africa and apart<br />
from the beautiful sights and culture that made my journey<br />
worthwhile, I also experienced the peculiarity of the country. One<br />
of my remarkable experiences had to do with the wine in South<br />
Africa. A lot of people think Italy or even California when the<br />
subject of vineyards and wine regions come up, but South Africa<br />
also amazingly boasts of some beautiful wine regions that you<br />
will be sure to enjoy.<br />
Vineyards are usually the go-to place for wine tasting but in<br />
South Africa, I was privileged to come across restaurants that<br />
have found their way into wine tasting. I visited restaurants such<br />
as The Table, Franschhoek Kitchen, Fryndraai Restaurant and<br />
Readers Restaurant among others and had the opportunity of<br />
tasting good wine.<br />
“<br />
In order not to ruin the taste of<br />
wine, do not drink coffee, lemon<br />
water or chew gum right before<br />
wine tasting.<br />
“<br />
They also, however, have vineyards for wine tasting, such as<br />
Tokara, which prides itself on making wine that are specific to<br />
three wine producing regions and Jordan Wine Estate, that<br />
offers wine tasting packages and experiences, including sips<br />
from Chameleon range wines, Estate varietals, Reserve wines,<br />
Bradgate, Jardin label and so much more. And if you want a<br />
taste of wine produced in South Africa, then I will recommend<br />
Methode Cap Classique, a sparkling wine similar to Champagne,<br />
and the Pinotage, a red wine made from a grape that is a mix of<br />
Cinsaut and Pinot Noir.<br />
My experience with wine was not limited to tasting as I also had a<br />
great time having a wine picnic. I discovered that picnics were<br />
becoming quite popular amongst the wine farms. Boschendal<br />
Wine Farm boasts of being one of the best picnic spots. They<br />
recently launched two picnic experiences that are fun to be a<br />
part of – the Rose Garden Picnic and the Werf Farm Picnic. The<br />
Rose Garden Picnic provides amazing views of the mountains,<br />
exhibition vineyards and picnic baskets that contain food made<br />
from the natural farm produce and the Werf Farm Picnic allows<br />
guests the opportunity to bring their blankets, chairs and tables<br />
to enjoy acres of scenic gardens. The child care service provided<br />
by the Werf Farm Picnic is a major attraction that you would<br />
particularly enjoy if you are travelling with little ones because it<br />
allows the children to create their own memories away from the<br />
adults. And if you are partial to the countryside, then you should<br />
visit Budmarsh Country Lodge in Johannesburg, equipped with<br />
all you need to have a great time in the country.<br />
Additionally, just in case sitting around is not your style, I would<br />
recommend the wine tram tour. The Franschhoek Wine Tram tour<br />
is one of the best ways to enjoy Franschhoek Valley with its scenic<br />
vineyards, breath-taking scenery, warm hospitality, world-class<br />
cuisine and fine wines. Franschhoek, translated as “French Corner,” is located in<br />
the Groot Drakenstein Mountains and the wine route is regarded as South Africa’s<br />
gourmet capital. The early French beginning of the area is largely obvious in the<br />
region, even in their production of wine. Therefore, touring the area in an open-air<br />
tram accorded me the opportunity to view some of South Africa’s oldest and most<br />
distinguished wine estates.<br />
Another fun experience with wine that South Africa has to offer is the food and<br />
wine festival. Attending the festival was really a life-changing occurrence for my<br />
taste buds. There were different kinds of meals ranging from cheese, fresh fruits<br />
and vegetables, karoo lambs, seafood and venison to hundreds of the country’s<br />
finest and tastiest wines.<br />
Luckily, the festivals are seasonal and usually happen all year round in different<br />
cities. However, the most popular festivals are the RMB Wine Festival in Sandton<br />
and Summer Wine Festival in Johannesburg which occur 25th to 27th of October<br />
and the 4th of November respectively.<br />
I was able to take something home from my experiences with the wine of South<br />
Africa. Apparently, there are tips to having a wonderful wine tasting adventure -<br />
book tasting beforehand, be open to trying new wines and in order not to ruin<br />
the taste of wine, do not drink coffee, lemon water or chew gum right before wine<br />
tasting.<br />
My adventure in South Africa is not one I can forget easily, and you should really<br />
check their wines when you have the opportunity.<br />
Don’t just travel. Explore. Create unforgettable experiences.<br />
28<br />
@thesparkng
The Spark | Ignite/Connect/Achieve<br />
www.thesparkng.com<br />
BrandSapark<br />
Paylater vs Branch<br />
With the growing use of applications by millennials who are upwardly mobile, market strategy and ease of use are<br />
no longer optional. Here’s a comparison between two brands in the same space doing what it takes to capture the<br />
heart of the youth.<br />
- By Deji Adeniyi<br />
The Financial Services Industry has gone through various<br />
cycles ranging from new regulations, entry of technology<br />
firms and mobile phone operators, to the adoption of new<br />
innovative products in the last decade in Sub-Saharan Africa.<br />
With an estimated 40 million financially excluded adult size<br />
population in Nigeria, digital lending platforms have their<br />
operations outlined for them. Across the continent, they have<br />
churned out innovative products in order to gain market share.<br />
Competition, in form and structure of Micro-Finance Banks<br />
(MFBs) are struggling to cope with tighter regulations and macroeconomic<br />
shocks (increased inflation, reduction in disposable<br />
income and job losses). This has opened up opportunities for<br />
digital lending platforms.<br />
Paylater is a leading Nigerian brand that operates in the digital<br />
lending space. Its strength lies in its innovative outlook that<br />
leverages on technology. Features such as an app download<br />
makes it attractive to millennials, documentation is simplified with<br />
online submission and a quick turnaround in terms of approval<br />
has raised the profile of the firm. It enjoys a growing market<br />
presence which spans across the millennials - entrepreneurs,<br />
employees, a hybrid of both and even students.<br />
This is as a result of diligent research into the needs of their<br />
captive market. Their success story so far has induced competition<br />
as can be seen by the launch of another digital lending platform,<br />
funded by a financial services player with deep pockets.<br />
The Paylater brand understands the Nigerian market with its<br />
operations hinged on the conventional banking system and<br />
the Bank Verification Number (BVN). This is strategic as a bank<br />
account rides on an existing verifiable process and validates<br />
the identity of the applicant. Fees are flexible and are marketfriendly<br />
at least within that space.<br />
Branch is a regional player in East Africa with a continental<br />
presence in North America. Its operations show a bias for<br />
established markets in Financial Technology Services. Its African<br />
presence in Nairobi is no coincidence as Kenya is a leading<br />
country in the provision of mobile banking services in the<br />
continent. This has influenced its operations as it is linked with<br />
mobile banking accounts only. Its fees are liberal, an indication<br />
of their market insight.<br />
A key brand strategy is the use of partnerships to gain accelerated<br />
market presence. Partnerships with a ubiquitous sector as cab<br />
drivers is bound to result in seamless adoption by any such<br />
groups. Its ability to project its brand as socially conscious and<br />
impactful will resonate with the millennials who may likely adopt<br />
their brand.<br />
A deal breaker may be the restriction of customers to only<br />
mobile banking accounts under the Branch brand. Culturally,<br />
there is a strong preference for a conventional bank account. This<br />
is to prevent dependence on an agent or banking representative<br />
as middle men for funds or cash management.<br />
At a seminar on Financial Inclusion in early December, 2017 in<br />
Lagos, Nigeria, a participant enumerated their experience in an<br />
Anglophone country in West Africa where a firm had the contract<br />
to provide mobile banking accounts in the rural area for instant<br />
credit of their salaries.<br />
When the staff were informed that their accounts have been<br />
credited with their salaries, there was disbelief until the staff<br />
contacted an agent and withdrew the total amount paid from<br />
their wallets. After being convinced, they returned the whole<br />
amount to the agent to credit their wallets.<br />
This issue with the wallet account promoted by mobile banking<br />
is one of the many reasons why the mobile banking service has<br />
not gained traction in Nigeria.<br />
“<br />
The future of the<br />
continent lies with<br />
opening up our<br />
economy. Access to credit<br />
remains a key indicator<br />
of economic growth.<br />
“<br />
30<br />
@thesparkng
www.thesparkng.com<br />
The Spark | Ignite/Connect/Achieve<br />
Paylater will need to deepen their customer base by appealing to<br />
other segments of the underserved credit-seeking community. It<br />
should venture to other towns and capital cities in Nigeria and<br />
seek gender inclusion in its market. It should take advantage<br />
of the economic policies by partnering with agricultural<br />
entrepreneurs and being relevant to all players in the agricultural<br />
value chain.<br />
Branch should also deepen its partnerships with other sectors<br />
and partner with regulators in the mobile telephony and financial<br />
services in order to expand the scope of the mobile banking<br />
service in Sub Saharan Africa.<br />
The future of the continent lies with opening up our economy.<br />
Access to credit remains a key indicator of economic growth.<br />
Digital records of transactions enhanced with these digital<br />
lending platforms is a big leap from our recent past. Government<br />
and Regulators must support them for a future that is bright for<br />
all Africans.<br />
What do you think? Which brand captures the heart of the youth more? Here are results from our social media poll comparing<br />
the two brands.<br />
Online Poll Results<br />
65% 35%<br />
@thesparkng<br />
31
Engage<br />
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These are the ingredients in your kitchen:<br />
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Build 20 English Words from these letters.<br />
Alpha Letters – First Letter<br />
D, H , P, M, S<br />
Beta Letters – Second Letter<br />
i, v, d, e, h, a, g, l, p, n, y, s, w, t<br />
Each word must be between 6 to 10 characters long.<br />
Rules for each word<br />
• The first letter for each word must begin with any of the<br />
‘Alpha Letters’.<br />
• The second letter for each word must be one for the<br />
‘Beta Letters’.<br />
• Beta Letters’ can be repeated in each word if needed.<br />
• All ‘Alpha Letters’ must be used.<br />
How to win<br />
Send us your “words” with your Full name and Location to<br />
our social media pages - @thesparkng and our email - info@<br />
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