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Speakers At CFA Startup Hangout Urge Youths to ‘Stay & Invest’ in Nigeria

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By Justice Okemgba

The October 2017 Edition of the CFA’s Startups Hangout really lived up it’s expectation, as the Startups were fed with priceless nuggets on how to run their businesses successfully and improve on their lives and uplift the nation.

CFA’s Startups Hangout, is an event that brings Startups together to learn how to run and grow their businesses from invited successful entrepreneurs, as well as network with each other.

The two invited speakers for the October 2017 edition, which was held at Adna Hotel, GRA, Ikeja last Friday, were Mr. Wale Ajisebutu, vice-chairman, 21st Century Technologies and Dr. Nkiru Balonwu, Managing Partner, RDF, a Consultancy outfit.

First to speak, was Dr. Nkiru Balonwu. She stated that Startups need to be determined and stay focused, as these are key to achieving what they want to achieve. “Be sure of what you want to do and set milestones for the achievement of goals”, she emphasised.

She admonished the Startups to note each achievements as they are met and also know why they are not met and fight to see that they are met in the end.

She made it known to the Startups that, from her own experience at starting her own business outfit, not everyone will encourage them in their quest, but they should not be deterred. She advised them to seek for sponsors and mentors, but should also be ready to give them something in return.

Nkiru stated that Startups should ensure that whatever it is that they are doing, should be centered around solving a problem for their clients. She gave the example of her own experience, where her personal need to track the income and expenses of her income and expenses, prompted her to develop the Bukkipa App, a simple accounting solution, but she had to ask for inputs from those who are also in need of such a solution, so that they can patronise it.

Wale Ajisebutu, in his presentation to the Startups, gave the narrative of Nigeria as a country blessed by God, with lots of opportunities, which, unfortunately, the citizens are only seeing  and complaining about as problems.

He advised the Startups to stop complaining about what the government has not done and see all the problems that we have in Nigeria in the areas of inadequate water supply, bad roads, poor transportation, scarcity of food and agriculture, etc., as opportunities they can key into and start a business on, because the government cannot do them.

“You cannot see all these kinds of opportunities in England, for instance, because they have light, they have houses and they have roads, etc. You don’t need to run there. If you go there, you will just go and wash toilets and plates”, he observed.

“It was individuals that developed America and not the government”, he stressed. He gave the example of Cornelius Vanderbilt, who invested in and built railroads, John D. Rockefeller Snr, who invested in the oil and oil pipeline business and J. P. Morgan, who invested in the banking industry, all in America.

He stated that a good example of such individual, doing a similar thing in Nigeria, is Aliko Dangote, who invested in problem areas in Nigeria and is today, the richest African in the world.

Wale advocated for the adoption of a four-tier government, namely, Federal, State, Local government as well as Youth and Entrepreneurs, to take care of the interest of SME’s. He advised Startups to work hard, be consistent, dream big, think big, start small, be open, be curious and take risks. “If you do the right thing in your business in Nigeria, you will become a multi-billionaire in any currency”, he assured.

Wale further advised the Startups to build great teams, have good business concepts, build wide network of mentors and cover their costs to stay relevant in the business world. “You are in Nigeria for a purpose. Take advantage of it. The country is for you. You have to build it”, he concluded.

Other attractions during the October 2017 edition of the CFA’s Startups Hangout, include presentations by officials of The Bridge Clinic, who took the Blood Pressure of the Startups that attended the event and TAMS on Time Management, Payroll and Human Resource solutions for the Startups.

The event ended with the networking session, where the Startups interacted with each other to form alliances, friendships as well as synergize their operations.

The November 2017 edition of the CFA’s Startups Hangout, which will be the last for this year, also promises to be an exciting one. Watch out for details @ http://startups.cfatech.ng

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Coronation Report Reveals Key Role of Private Sector to Nigeria’s Infrastructure Funding

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The maiden edition of Coronation group infrastructure report has revealed that the private sector has a critical role to play in infrastructure funding in Nigeria.

The report stated that the key to private-sector infrastructure investment is for dealmakers to structure transactions that offer attractive returns combined with an acceptable degree of risk, the risk often being eased by agreements supplied by infrastructure investment vehicles such a Infracorp.

The report said that the investor base can play its part, providing liquidity as part of its own efforts to create long-term returns with low relationship with public markets.

The report noted that Nigeria’s future infrastructure development depends on private capital, including capital allocated to Public Private Partnership (PPP) ventures, given the huge amounts of money required and the inability of government to provide it.

The report explained that the record of the federal government in capital expenditure over several decades highlighted the need for increasing private-sector investment, adding that public expenditure on transportation, education, hospitals, power, housing, and other essential infrastructure has not kept up with the needs of a population growing at a long-term rate.

The report said Public-private partnership differs from government capital expenditure in that it must pay for its capital, noting that it must attract private sector capital and therefore provide better returns than the risk-free returns of government debt.

According to the report, “Inflows of petro-dollars into government coffers did not translate into proportionately more being spent on capital expenditure, surely a missed opportunity. Still worse was to follow in the period 2011-2020 when the average level of public sector capital expenditure fell to 1.1 percent of Gross Domestic Product (GDP).”


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DLM Asset Management Set to Host Webinar to Discuss Financial Stability in Times of Economic Distress

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DLM Asset Management Limited, a subsidiary of DLM Capital Group, is hosting a webinar with the theme, “Maintaining financial stability in times of economic distress.” The much-awaited webinar, slated for Thursday, March 28, 2023, at 11 a.m., is going to cover the essential strategies to navigate through economic challenges and safeguarding one’s financial future.

Hosted by industry experts, the webinar will delve into the following key topics and teach attendees:

  • How to adopt a proactive, knowledgeable, and adaptable approach to risk assessment and mitigation.
  • How to thrive in this present economy and remain financially resilient.
  • Financial planning and discipline

During its interactive Q&A session, attendees will have the opportunity to ask questions and learn more about the subsidiary’s services from the hosts and speakers of the webinar. This includes the DLM fixed income fund, which Nairametrics identified as one of the top-performing Nigerian mutual funds in 2023.

This webinar is designed for investment savvy individuals Income earners, institutional and corporate investors, high net worth individuals, and the mass retail market.

Interested parties can register for the webinar by using this link, which is currently active. Seize the opportunity to gain experience on insightful things and get ready for a rewarding encounter.

 


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Firm Canvasses Affordable Technology to Drive Business Efficiency

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Information Communication Technology (ICT) service provider, Thamani Consulting, has stressed the need to make technology much affordable so as to make businesses seamless and efficient.

Olubunmi Abegunde, Managing Partner of the company, averred that making technology access affordable would enhance its penetration and increase uptake of digital technologies to drive employment growth of more than 22 million Africans joining the workforce each year.

He explained that the organisation remained committed to empowering businesses to thrive in Nigeria’s dynamic environment, hence churns out innovative solutions to address business problems across disciplines.

“Leveraging 20 years of combined market experience executing successful IT Projects with local and multinational organisations, we aim to capitalise on this to improve strategic utilisation of technology in Africa and support capacity building through access to requisite information technology,” he said.

He explained further that the African region more than others need increased usage of digital technologies to level-up globally, noting that polices to drive low-end technology access must be prioritised.

“This is why we do not compromise the balance of quality, standard professionalism and yet affordability in the choice of solutions we offer to clients which include: SAP training and Implementations, Software Asset Management, Plant Maintenance Process Automation and Automation for manufacturing Industries, amongst others.”


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