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Longing for Instant Gratifications Bane of Young Entrepreneurs- Adewoye

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The survival of a small business post-gestation period hugely depends on the entrepreneur’s approach to overcoming the market realities, which must include overcoming cravings for instant gratification, says Olumide Adewoye, founder of Versacorp Global Concept Ltd.

Also, intending business owners must understand to focus efforts on developing quality product and critically assess the market to attract customers and engender growth, advised Adewoye, Generation Next Youth Empowerment Summit’s WhatsApp (Live) Chat on: “When What You Love Isn’t Paying Your Bills Yet…What To Do”, coordinated by Elbativeni Impressions and Consult.

Adewoye, a Chemical Engineering graduate of Obafemi Awolowo University, Ile-Ife and a Mobil Oil Producing Undergraduate Scholar coordinates efforts of other professionals in the company, said he saved 70% of his salary as a staff of a bank as seed capital to establish the Versacorp Global Concept Ltd.

His professional experience started ‘with a vision of what was possible’, and today cuts across both the manufacturing and financial sectors.

“I wanted to be a career person like everyone else when I was in school. However, while on an Industrial Training, I met a man that gave me a new perspective. I was in my 400 level. So when I came back I began to ask questions about all the equations we were taught in the classroom”, he told over 70 SME owners drawn from across the globe.

Adewoye said he had a product in mind but subjected it to market reality before scaling up.

“So I was producing manually with limited investment in equipment. I had little or nothing to lose. Again, I didn’t resign from my employment before starting out. If there was no real demand, I could stay on a little longer. After deciding on the product, I then invested a lot in how to produce cheaper than competitive products and still come up with something better.

“Whenever I saw an empty drum on the street, in my mind, I was thinking how it could be converted to a reactor. I had no money, but I had a very big vision. After graduation, I got a job in the banking sector. By then I knew I was going to be a business person. I already drew the plan of my proposed business with dates. My long term vision determined my interests.

“After working in the bank for four years, I voluntarily resigned my appointment to start my business full time. Every month I was saving at least 70% of my salary; using it to buy equipment little by little over the period of four years that I worked”, he disclosed.

During the chat coordinated by Destiny Ruth Obiakoeze; Chief Executive Officer of Elbativeni Impressions and Consult and Founder of Elbativeni Foundation Parent companies of the Youth Summit; the Entrepreneur agreed alongside over 70 participants who joined from across the world that ‘Excellent’ academic qualification is no longer a guarantee for suitable jobs or businesses, as ‘Excellence’ is not a strategy in today’s world anymore. It’s a minimum requirement. One, competition is keen. The truth is that we are all competing every day.”

Accordingly, working with a company prior to starting yours has a lot of advantages. A strategy list would be: Know what your purpose is. Know it early enough. Determine the requirements needed to actualize your purpose. Invest in personal development and resolve to pay any sacrifice needed to bring your vision to reality.

Adewoye also advised young people to shun sacrificing learning enduring life lessons on the altar of instant gratification. “The lessons and skills can make you more than the salary,” he said, I know of a man that was employed as one and today he’s a multi-millionaire. He later established his own farm using the knowledge and skills acquired and owns lots of properties around. I have employed a few farm workers in my farm 99.99% of them discuss things like food, phone, clothes, etc with me.

“They don’t see it as an opportunity for them to learn something they can later set up. They want to save enough to buy an android phone from their current Nokia phone. They want to buy new shoes. Unfortunately, most of today’s youth are suffering from the same thing. People who are unemployed possibly use better gadgets than some of us in business. If they are passionate enough, they should deny themselves of those things and channel the money to fund their future. As a bank employee, I wore a suit for 3 years!”

In a contribution, one of the participants Daniel Okpechi said, among other things, “we have authenticated the impression that success is a moving target, the more you aim, the further it advances. Let your last aim not be your final aim. Even if you had failed previously, don’t be discouraged by the pain of failure, because your capacity has inadvertently improved. Try again, and again, because Thomas Edison rightly observed that ‘Many of life’s failures are people who did not realise how close they were to success when they gave up”. A wise man said that ‘knowledge is power’, but I beg to slightly differ from that popular belief. The truth is; knowledge is just potential power!

“Just as the energy in your power bank is useless unless you plug it to your phone, the same way the knowledge we have gained from Mr. Olumide today will lie fallow unless we apply it to solve problems. For it is only then that the potential power can be converted to kinetic power to produce results.

“For those who are waiting for the perfect time, the time might never be perfect because even life itself is not perfect. A Chinese adage says “the best time to plant a tree was 30 years ago, another best time is now”.

“Let that fear of uncertainty not cripple us from adventure because, over 90% of our fears never happen and everything that you have ever wanted is on the other side of fear. Remember: Action cures fear! If you do the things you fear, fear will die naturally”.

This Live Chat is one of many expected virtual series leading up to ‘The Generation Next Youth Empowerment Summit’  (a youth Summit that serves as incubation to growth in life and business with a vision to identify that latent power – passion, inborn in youths, building Leaders) which will hold its 3rd Edition later in October this year in Abuja, Nigeria.

 


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60 Hearty Cheers to Chioma Ekeh, Africa’s Leading Unusual Female Tech

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The story has often been told in tech circles of how a relatively unknown Nigerian female student became a sensation of sorts among the international student population back in the early 80s in India owing to the unusual course of study she was undertaking.

60 Hearty Cheers to Chioma Ekeh, Africa’s Leading Unusual Female Tech

Chioma Ekeh

Electing to study Mathematics at Bachelor’s degree level – a course that required not only battling differential equations, calculus, advanced algebra, and so on, but also pitting one’s wits against that of wizened professors – is not a task for the faint-hearted. But that was the path that this unusual lady took at Punjab University, located in the culturally rich and aesthetically pleasing city of Chandigarh, India.

It was a decision that would lead Chioma Ekeh (nee Emelonye) along the path of meeting the love of her life, a certain Leo Stan Ekeh and returning to Nigeria with him to play a leading role in shaping the course of technology distribution in Africa.

Undoubtedly, unusual may also be a word that defines Chioma and Leo Stan Ekeh’s remarkable journey together. A power couple and exemplary partners who have worked together for over 30 years building a successful technology empire is a rarity, one that is not often seen.

That sojourn to India and her subsequent career trajectory laid the groundwork for the impressive reputation Chioma Ekeh has built in the highly competitive technology space. Business associates and representatives of global brands never fail to cite her intellect and brainpower.

Job seekers who cross her path during interviews often recall being asked to solve a simple arithmetic problem. For those who eventually become employees, there is never-ending adulation.

Her husband, Leo Stan Ekeh, describes her as the integral analytics, the backbone behind the brilliant success of the Zinox Group where she has continued to support all the businesses across the board.

Such is the cerebral aptitude of this unusual woman that she is reported to have taken the stage once at a company-wide business review to present a financial report punctuated by humongous accurate numbers, figures and percentages, all from memory and without recourse to any notes, a device or an actual presentation document.

Born on April 25, 1964, the story of the impressive diffusion, accessibility, useability and affordability of cutting-edge technology devices and solutions in Nigeria and indeed, sub-Saharan Africa will be grossly incomplete without a detailed citation on Chioma Ekeh and the leadership role she has played – one she has continued to play as a silent innovator and disruptor–alongside her legendary spouse.

A Fellow of the Chartered Institute of Certified Accountants (FCCA, UK), Mrs. Chioma Ekeh is the brains behind TD Africa, a regional technology distribution powerhouse headquartered in Nigeria and with branches across Africa and in four other continents.

A company she led from start-up stage, TD Africa with Chioma Ekeh as CEO, pioneered ICT distribution in Sub-Saharan Africa and has remained the industry leader by market share in the region and the biggest provider of credit to resellers.

Founded in 1999, TD Africa is Africa’s leading distributor of technology and lifestyle products, boasting an unmatched and growing network of partnership with global brands like HP, Microsoft, Apple, Starlink, IBM, Dell Technologies, Ring (by Amazon), Cisco, Lenovo, APC by Schneider Electric, Samsung, Bosch, Phillips, Logitech, Vivo, among several others. Under Chioma’s exemplary leadership, the company has achieved numerous milestones, earned a long list of local and international awards/accolades and ensured Nigeria and indeed Africa is reckoned with at the global table of technology conversations and discussion-making.

However, this remarkable story may have turned out differently, had Chioma not returned to Nigeria under the guidance of her husband.

Armed with a formidable Mathematics degree after completing her studies in India, Chioma had the world at her feet and was the toast of leading companies the world over.

Moving to the United Kingdom at the invitation of her husband, Chioma joined the exalted league of Chartered Accountants and thereafter, bagged an MBA at the reputable Heriot Watts University.In 1987, she joined Sterling Deveraux as an Investment Analyst, engaging in researchand analyzing assets, such as stocks, bonds, currenciesand commodities.

Her acumen and exceptional skills were growing in demand and before long, she left Sterling Deveraux, joining the London Borough of Lewisham as an accountant in 1988.

Between 1988 and 1991, Chioma’s sterling work saw her rise swiftly through the ranks at the London Borough of Lewisham, moving from Accountant to Senior Auditor and then to Financial Auditor.

Certainly, Chioma Ekeh had a clear path to becoming CFO and possibly CEO at the London Borough of Lewisham or even going on immediately to taking up other elevated roles at other organizations. But the love of motherland and the call of her husband – Leo Stan Ekeh – to return home to Nigeria with him and build a technology legacy for Nigeria and Africa proved too strong.

Back home, Chioma Ekeh’s initial area of responsibility was with Task Systems Ltd., the first of many companies in the Zinox Group set up by Leo Stan Ekeh.

She took up the position of Financial Controller and spent six achievement-filled years at Task before driving the vision of technology distribution birthed by her husband in launching TD Africa where she became the company’s pioneer CEO.

A quiet, unassuming tech icon, Chioma Ekeh has acquired a well-deserved status as unarguably one of Nigeria’s top three leading Women-in-Tech, a female technology business leader with extensive years of proven capacity in building high-performing teams and transforming businesses beyond stakeholders’ expectations.

In partnership with her husband, Chioma Ekeh has played immense roles in growing and nurturing partner businesses, launching several thriving new businesses and successfully closing some of the biggest acquisitions in the technology space in Nigeria.

The Tech Experience Centre – Africa’s first technology experience centre – located at Yudala Heights, a sprawling edifice in the heart of Victoria Island – is another project that has Chioma Ekeh’s indelible signature on it.

The launch of the Tech Experience Centre in October 2020 received high praise from the Nigerian government and representatives of global Original Equipment Manufacturers (OEMs).

Under her guidance, Celebrating You, an annual showpiece celebratory event hosted by TD Africa has become unarguably the biggest year-end event in the Nigerian technology industry for over a decade.

Also, she has spearheaded several CSR projects, including The Herwakening – an empowerment programme for female entrepreneurs– and Girls in ICT – a project targeted at encouraging young girls to take up STEM (Science, Technology, Engineering, Mathematics) disciplines and considering careers in technology.

As she turns 60, Chioma Ekeh deserves rarefied mention and unmitigated encomiums. An amazon, this unusual female tech icon who has shattered several glass ceilings, knows no fatigue and has continued to innovate, effortlessly leading from the front.

 

 


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Academic Technologists Propose N350,000 Minimum Wage

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National Association of Academic Technologists (NAAT), has proposed N350,000 as the new minimum wage for Technologists in the tertiary institutions.

Academic Technologists Propose N350,000 Minimum Wage

Comrade Ibeji Nwokoma, national pesident of NAAT, stated this at 5th National Delegate Conference in University of Abuja.

Nwokoma, said the proposal was based on the present economic situation in the country occasioned by the removal of fuel subsidy, high inflationary rate and the attendant hardship.

Nwokoma maintained that technology rule the world and advanced development and shaping the landscape of education in developed countries.

Prof. Tahir Mamman, minister of Education, said the federal government will soon introduce the policy that will make skill acquisition compulsory for primary and secondary schools.

The minister said global space is driven by technology which the advanced world is using to solve problems and gaining grounds.

The Union protect, defend, and promote the rights and well being and interests of all members and to advance the cause of members, employed in Nigerian Tertiary Institutions Universities, Polytechnics, and Colleges of Education.

The theme of the conference is, “Technology, a recipe for national development and socioeconomic growth in the 21st century: the Nigeria quest for a better tomorrow.”

 

 


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9mobile Partners Microsoft to Host Impactful Training Session for Journalists

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9mobile, telecommunications company, recently partnered with tech giant, Microsoft to host a capacity-building session for journalists aimed at empowering them with innovative tools to improve their skills for maximum performance in their field.

The learning session held at Microsoft Africa Development Center had in attendance media partners from print and online platforms and publications.

The training session provided a platform to introduce journalists to the benefits of Microsoft Copilot and its potential to revolutionize the profession.

Microsoft Copilot is an advanced AI-powered tool which offers a wide array of functionalities designed to streamline workflow, enhance productivity, and elevate the quality of their output.

Through this partnership, 9mobile and Microsoft sought to equip journalists with the skills and knowledge necessary to leverage Copilot effectively in their day-to-day work.

Speaking at the training session, Chineze Amanfo, PR Lead, 9mobile, expressed her enthusiasm and satisfaction with the session, emphasizing the company’s commitment to fostering innovation and empowerment within the media industry.

She stated, “We are thrilled to collaborate with Microsoft in providing this invaluable training opportunity for journalists. At 9mobile, we recognize the pivotal role that the media plays in shaping public discourse and driving societal change.

Therefore, equipping them with the requisite knowledge and tools such as the Microsoft Copilot, will enhance their capability to deliver on their respective assignments efficiently by disseminating accurate and impactful information to the public.”

“We prioritize our relationship with the media hence, the need for the periodic capacity building session for journalists. With this training, we have clearly demonstrated our unwavering commitment to sustaining the initiative.

“We will continue to explore new avenues for collaboration and innovation, ensuring that our partners in the media industry have access to the tools and resources they need to thrive, Amanfo added.”

Yemi Orimolade, The Senior Business Programme Manager, Marketing Communications, Microsoft Africa Development Center, appreciated the participants for their contributions in making the session an engaging experience and enjoined them to champion the message of AI responsibility.

He said, “Microsoft’s Copilot is poised to be a game-changer for journalists. It is a reliable tool for generating and optimising content, staying informed, and enhancing productivity. Our commitment is to harness the transformative potential of AI for societal betterment. Welcome to the future of journalism, working smarter with Microsoft Copilot.”

The capacity-building session received an overwhelmingly positive response from participants, who lauded the practical insights and demos provided.

Attendees expressed their appreciation for the opportunity to familiarize themselves with a tool as powerful and versatile as Microsoft Copilot, acknowledging its potential to revolutionize their workflow and enhance their journalistic endeavors.

With the successful hosting of the capacity-building session, 9mobile and Microsoft look forward to more areas of sustained collaboration to drive positive change and innovation within media ecosystem in Nigeria.


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