DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 6629

Jumia Evolves With JumiaOne Lending – Borrow Money in 5 Minutes

2

Last month, I commented on a Jumia job post (looking for lending officers), and noted that it was an “amazing” move by the ecommerce company. I saw the move as positive as no ecommerce company in the emerging markets like India and China has done well without  building a great fintech company. China’s Alibaba has Alipay, India’s Flipkart has PhonePe. It is a slam dunk – Jumia needs to have a fintech company to have a chance in Africa. JumiaOne, the brand name for Jumia payment, is here.

I expect JumiaOne to become the most important component in the Jumia Group in coming years as it morphs pieces of Jumia brands to feed transactions into itself.  Yes, the ecommerce can struggle but the fintech unit will win markets and territories – and profits.

JumiaOne ad on Instagram

Fintech and logistics deliver great balance sheets. Logistics is pay & carry while fintech is my commission & fees. With Jumia One, the mess of African ecommerce paralysis which I have articulated many years in Harvard Business Review will become muted. Jumia needs that as its stock in the NYSE has dropped from near $50 to about $6 now. Yes, Jumia needs to execute the double play strategy where fintech will help it manage the paralysis in the broad ecommerce sector.

Of course, JumiaOne lending arm has to battle Carbon (PayLater), Lydia, and other lending focused fintech companies across countries it operates. But it has a chance as many of these companies can co-exist as everything is still at infancy.

Jumia Reveals Its Future With New Job Postings – And It is Amazing

Soulmate Industries – Join A Session for Global Partners and Distributors

0
In Soulmate Factory with Founder

Soulmate Industries Ltd is a leading indigenous haircare brand with industry-leading products. It has a big factory in Ikeja Nigeria where the Founder, Sir Ndukwe Osogho-Ajala,  commercialized his undergraduate chemistry project. Soulmate products are used across Africa and beyond. It is today one of the largest indigenous manufacturers in Africa, employing hundreds of people.

If you visit Soulmate complex, you will see amazing young researchers in one of the largest biochemistry industrial labs in the nation. They research, create and launch beauty products whose IPs are 100% Nigerian and African. Soulmate is a leading exporter- it exports agents of beauty to the world, from Nigeria.

With Soulmate Founder in Soulmate Factory

Soulmate Industries is a client in my practice. We will run a retreat in Lagos. Though structured for the business executives, I will have a session for potential partners, local and international.

My wife Ifeoma wants to buy Soulmate in Wal-Mart; Soulmate’s Hair Conditioner Plus was formulated for her hair!. There are other African women in Gambia, Mali, Kenya, UK, etc who are connected to this brand. And we hope to stimulate new demand fans through symphonic innovation. We want partners through different vehicles – JV, MR, etc – to make Soulmate reach these customers.

Email here (on click) – we will want to have a conversation with you on the opportunities. You may need to join us in Lagos if you are in Nigeria; digital connection will be available for partners outside Nigeria or want to connect remotely. The exact dates and venue will be provided to you once we have received your note. Please while writing, tell us a little about your business and experience in the sector.

Soulmate – it’s always amazing when you have found your mate!

A Tour of Soulmate Industries – Sub-Saharan Africa’s Largest Indigenous Hair Beauty Brand

Ndubuisi Ekekwe To Keynote Nigerian Association of Petroleum Explorationists (NAPE) Conference

0

I will keynote the Nigerian Association of Petroleum Explorationists (NAPE) conference next month in Lagos. NAPE is the largest professional association of petroleum geologists and related disciplines in Nigeria and Africa. Members include geologists, geophysicists, CEOs, managers, consultants, students and academicians..

I will speak on a topic I have titled The Explorationists: Abundance in Data.

As an undergraduate student in FUTO, I did two internships in the oil sector – all in NNPC’s Nigerian Gas Company (Owasa Gas Station, NGC HQ). During the 3rd internship, I served in Shell’s Kolo Creek flow station (near Yenagoa). The first night in the station was memorable because I poured vinegar like water as I worked hard to eat everything on the table (those days!).

The industry has changed since those days. We will be having a conversation during NAPE.

 

 

Meet Akinyemi Olasunkanmi, A First Class Graduate with a Class

4

”I never bothered looking for a job after graduation because no company will pay me what I want.” – Akinyemi Olasunkanmi

I spent some time with a friend, Akinyemi Olasunkanmi, over the weekend and we had a wonderful discussion that I felt every Nigerian could learn from, especially the youths.

Unemployment has always been a global problem that seems like it would never go away soon. Every year, the higher institutions of learning push out graduates into the labour market with fewer jobs being created. Therefore, making the labour market highly competitive for fresh graduates.

But what can we do in a country like Nigeria where the unemployment rate is abnormal?

Nigeria can boast of having many First Class graduates from prestigious universities in and outside the country but when compared to their relevance in the labour market, it is nothing to write about.

But I met a graduate with a difference. A long-time friend, Akinyemi Olasunkanmi is a First Class graduate of the University of Ilorin, where he studied Statistics. He later went for a Master’s degree in Cameroon on scholarship.

But what surprises me about him, he’s not working under any organization. Lasun, as we would always call him back then at the Federal Polytechnic Ede, majors in writing business plans, statistical analysis, content marketing and agriculture.

Here’s my discussion with the talented entrepreneur:

 

It’s been a while Lasun, how is life in general?

”It’s been great. I have been soaked into working on business plans on Fiverr and running my poultry as well.”

 

That’s unbelievable my friend, did you say agriculture?

”Yes, you heard me right. I have been into agriculture before I graduated from Unilorin.”

 

That sounds strange for a First Class graduate in Statistics, what’s the correlation?

”It’s not strange. It’s a game of self-discovery. I had to find out what I can do for myself before graduation instead of sitting and waiting for a dream job that seems not to exist but an illusion.”

 

There are many companies who would love to have you, have you ever considered that?

”Yes, but I never bothered looking for a job after graduation because no company will pay me what I want. Initially, I do give it a thought from the onset. Also, I try to be the boss of myself. Find my path and stick to it.”

 

That’s really inspiring. If I may ask, how did you discover your path?

”I learnt about fish farming when working for a boss in order to secure my third-year tuition. I saw a great potential in the business and decided, I would go into it.
While serving at the base, I saw a huge demand for fish and had to do what no one ever did. I built a fish pond in the Navy Base and it became a hot cake.”

 

Wow! That’s really intriguing. Did you encounter any challenges?

”Of course, I did. When I completed my NYSC program, I came back to Ibadan and started a fish pond. You’d be surprised that all the fish I bought died. I was really discouraged and contemplated its continuity but being someone who doesn’t give up easily, I had to find the ’why’ and ’how’ to put it right.”

 

You said you write business plans too. How did you also discover that path as well?

”I started that a long time ago, even before I graduated. I started that on Fiverr. Mind you, I am not only writing business plans, I run statistical analysis and do content marketing as well.”

 

What are your future plans?

”That’s a great question. Honestly, I want to go deeply into agriculture. I am already building a pen. I want to use it for piggery. In the long run, I will add other farm produce.”

 

Piggery! Have you ever done that?

”Yes. I have reared pigs. That was before I went to Cameroon for my Masters. It’s a lucrative business that many people are not even aware of. I can coach anyone who wants to learn the business. Then, I would definitely further overseas. My dream is to become a lecturer and I’m definitely going for it.”

 

You seem to be a bunch of talents, my friend. I never doubted you from the onset. Here’s my last question for you, what advice do you have for graduates out there?

”Don’t wait for dream jobs. It doesn’t exist. A dream job is the one you create for yourself. Look out there, you’ll find one.”

 

Thank you once again, Akinyemi Olasunkanmi. You’ve really been an inspiration for the upcoming generation and I pray that your dreams come true.

 

Join Prof Ndubuisi Ekekwe and Prof Doyin Salami (Chair, Presidential Economic Advisory Council to President Buhari) this Friday in Lagos.

0

Join me and Prof Doyin Salami, Lagos Business School faculty and the Chairman of the Presidential Economic Advisory Council to President Buhari, for something exciting in Lagos. It would be an evening of intellectual conversation and deep exploration into the mechanics of business.

Date is Oct 18th at 2pm. To request an invitation (free), click here.