Osinbajo Demands Capacity Building Opportunities For Young Entrepreneurs

Osinbajo Demands Capacity Building Opportunities For Young Entrepreneurs

 

The Vice President, Professor Yemi Osinbajo, has called for the creation of opportunities of capacity building for young entrepreneurs in Nigeria and the African continent.

He made the call in his remarks at the Tony Elumelu Foundation (TEF) Forum which held on Saturday in Abuja.

Professor Osinbajo noted that on the streets of every village and city in Africa, there were many individual embodiments of the potentials of the continent.

He, however, believes that nurturing young entrepreneurs will change some of the false and some of the true but unfortunate narratives of Africa.

READ ALSO: African Leaders Should Setup Youth’s Investment Banks, Says Adesina

The Vice President stressed the need to realign the educational structure of various countries on the continent in that direction.

According to him, school curriculums should not just be about science, technology, and mathematics among others, but include ‘critical thinking and entrepreneurship.

Professor Osinbajo agreed that on the part of the government, the promises of establishing entrepreneurship banks must be kept.

He told the young entrepreneurs at the gathering that they live in the best of times and be wary of those who talk about the “good old days.”

According to him, such people are probably suffering from a bit of memory loss, considering an environment filled with a great representation of what the private sector can accomplish.

The Vice President, therefore, challenged the government and other stakeholders to create the enabling environment for all young entrepreneurs to thrive.

Read his full remark at the event below:

REMARKS BY HIS EXCELLENCY PROF. YEMI OSINBAJO, SAN, GCON, VICE PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA, AT THE FOUNDER’S PRESIDENTIAL DIALOGUE, 2019 TONY ELUMELU FOUNDATION (TEF) FORUM, AT THE TRANSCORP HILTON, SATURDAY, JULY 27, 2019.

Protocol,

No matter how young or old we might be, our lives are essentially stories that are being written and revised every day. And those stories range from what is, to what could be, from the reality we are born into, to the ambitions and dreams that we create, desire and those we strive to achieve.

As I prepared for this event, I encountered a few of the many stories of the businesses and lives transformed by the Tony Elumelu Foundation and its various initiatives.

We have Mavis Nduchwa, who trained for the hospitality industry, and went on to a career as a TV presenter, and is today a successful farmer with the goal of feeding her native country, Botswana.

A decade ago, a Nigerian, Zion Oshiobugie, looked ahead at life as a domestic servant for a family member. Today, he is the proud CEO of a consulting company based in the same city where he started out as a domestic servant.

There is Mohammed Daoufhi of Morocco, founder of a 3-D printing company that produces affordable artificial limbs. Every day, he makes it happen for someone, he gives life to someone who had thought all life was lost when they lost their limb.

Cameroon’s Michel Nkuindija actually tells, and retells stories for a living through his company, Noohkema Game Studios, which develops video games that are based on traditional Africa myths and legends. His goal is to change the way Africa is perceived globally, and to give young Africans a reason to be proud of their cultural identities.

Across the continent in Uganda, Joel Cherop is a farmer, pushing the boundaries of agriculture using irrigation technologies, through the Atari River Integrated Irrigation Initiative Limited (ARII). Every day, he makes a difference in farming in his country.

From the Democratic Republic of Congo (DRC), Lino Alain Muniono, used seed capital to start an architectural firm, and Jose Kimoalou founded Wapimed, a health tech company providing quality healthcare across communities in the DRC.

Benin Republic’s Vital Sounouvou is promoting trade across Africa with his fintech start-up, Exportunity, a virtual market that is now directly supported by a leading African banking institution, UBA. In the age of the African Continental Free Trade Area (AfCFTA), there is perhaps no bigger or better opportunity to be exploring right now.

There are the hundreds who are also here and these stories are just a few of the thousands told and experienced by entrepreneurs, whose lives have been touched and transformed by the Tony Elumelu Entrepreneurship Programme (TEEP).

And even all of those thousands of inspirational TEEP stories are themselves, just a representation, a fraction, of what is out there across the continent. A landscape emboldened by multitudes of young people who are refusing to wallow in self-pity or frustration; who have realized that conquering the challenges of their environments are the milestones for outstanding success. Young men and women who have come to fully understand the transformational power of technology in the 21st century.

Here in this room is a great representation of what the private sector can accomplish. It is also hugely inspiring to us, as governments, and I am glad that a number of African governments are represented here, we are challenged to create the enabling environment for all of these young entrepreneurs to thrive.

Our continent continues to be defined by unsavoury and unwholesome stories, which do not often accurately represent the reality of life and opportunity. The people in this room are the perfect and long-awaited counterpoints to those one-dimensional narratives of Africa that have sadly gained ground over the years.

Outside on the streets of every village, town, and city in Africa, are many more individual embodiments of the potentials of this great continent. But we can change some of the false and some of the true but unfortunate narratives of Africa. We must find young entrepreneurs and provide opportunities for capacity building. Our school curriculums must emphasize, not just Science, Technology, Engineering and Mathematics which we are doing now, but Critical Thinking and Entrepreneurship.  And the promises that we have made of establishing Entrepreneurship Banks must be kept.

By birthing this particular intervention, TEEP, Tony Elumelu has compelled us to focus on what really matters, our youth and their dreams. The message to Africa’s emerging business giants is a clear one, how and what can you contribute, like Tony Elumelu, to empowering the next generation, helping them to realize their own dreams? And you gathered here in this room, helping you write, rewrite and revise the next chapter of your continent-changing stories.

Permit me a word to you, young entrepreneurs; I want to say to you that you live in the best of times. Always be suspicious of those who remind us of the “good old days.” They are probably suffering from a bit of memory loss. 

Fareed Zakaria our moderator today, made a fascinating statement to the 2012 graduating Harvard class, where he made the commencement speech. He said that the smartphones that the young men and women in the room had in their hands, had more computing power than all the computing power in the Apollo aircraft that landed the first men on the moon.

Today, as we waited out here, I reminded him of that statement and his reply was, “Yes that was 2012. Today the smartphones these young men and women have, has 100 times more power, than all of the computing power of the Apollo aircraft that landed men on the moon.”

Today is the most advanced moment in human history and your generation is the smartest that has ever lived. We are holding our breaths for the incredible achievements you will make.

God bless Africa.

Thank you.

Released by

Laolu Akande

Senior Special Assistant to the President on Media and Publicity

Office of the Vice President

27 July, 2019

Aisha Buhari Says Private Sector Must Play More Active Roles In Enhancing Africa’s Development

File Photo

 

Wife of President Muhammadu Buhari, Aisha, says the private sector must begin to play more active roles for the advancement of the African continent.

According to her, now more than ever, the contribution of the Private sector is needed to advance the economy of the continent.

She said this on Friday while delivering a keynote address during the unveiling of the 2019 entrepreneurship finalists of the Tony Elumelu Foundation.

Mrs Buhari believes that the programme will go a long way in fostering entrepreneurial development across Africa and in turn boosting the economy.

“Now more than ever, amidst slow recovery of the world economy, the contribution of entrepreneurship through small and medium scale enterprises cannot be over-emphasized.

Read Also: Tony Elemelu Foundation Unveils 2019 Entrepreneurs

“The Tony Elumelu foundation entrepreneurship programme will certainly foster entrepreneurial development across Africa, providing the much-needed funds, training and mentorship of commercial enterprises that promote social and economic change, support growing African businesses through dynamic programmes that provide capital and human resources to budding entrepreneurs,” she said.

Speaking on some of the key visions of the office of the Wife of the Presidient, Mrs Buhari maintained that it will continue to make efforts to reduce the rate of maternal and newborn mortality.

“On our path, we are active stakeholders in this sector and in recognition of this, the strategy vision behind the engagement of the office of the Wife of the President is to contribute to the acceleration of efforts to end preventable maternal, newborn and child deaths through advocacy and the strengthening of accountability mechanism in order to enhance the peace and development of Nigeria”.

SMW: Agbaje Asks Entrepreneurs To Be More Value-Driven

SMW: Agbaje Asks Entrepreneurs To Be More Value-Driven
GTB CEO Mr Segun Agbaje speaks to reporters after delivering a speech at the 2018SMW in Lagos

 

The Chief Executive Officer of Guarantee Trust Bank, Mr Segun Agbaje, has called on brands and business owners to focus more on delivering value to their customers rather than profit making.

According to him, this will not only get them ahead of competitors but will also enable them to remain relevant in the business world.

Mr Agbaje said this on Tuesday while addressing journalists at the 2018 edition of the Social Media Week in Lagos.

The 2018 SMW, themed: ‘Closer’, brings together top influencers, as well as brands and individuals from various industries, who either shared from their wealth of experience or came for the sole purpose of networking.

Delivering a paper on the topic ‘Making Sense of a World in Motion’, the GTB Chief said: “My interpretation of the word ‘closer’ is about customer centricity.”

 

“In the world we live in today, the world we lived in 10 years ago, and the world we will live in 10 years’ time, you have to get closer to your customers, you have to do a lot of customer mapping, you have to understand customers, and you have to become one.

“You can’t feed people with what you think they want, you have to give them what is important. Honestly, for me, I think those values will remain values and in whatever business modules you do, it’s got to be value-centred and value-driven because values are not going to change,” he added.

 

The Key Is Slow Motion

Responding to questions of whether or not GBT has plans to do more for the education and ICT sectors, Agbaje stressed the need to take one sector at a time.

He, however, noted that despite existing platforms like the GTB Fashion Week and the SME Business Hub, the bank plans to do more but the key is sometimes “slow motion”.

“In this fast moving world where everything seems to be going at speeds that nobody understands, you can develop the ability to see it in slow motion,” the GTB boss said.

“If you get to the point where you can see this world in slow motion, even though it’s moving very quickly, you would have built a competitive advantage that will allow you to beat your competitors,” he added.

Stockbrokers Advised To Explore Entrepreneurship Growth Options

stockbrokersThe Nigerian Capital Market operators are putting efforts in place to empower entrepreneurs through the capital market despite the oil prices emerging frontier market across the globe.

They have been advised to explore entrepreneurship growth options to drive and boost the Nigerian Capital Market.

The Acting President of the Chartered Institute of Stockbrokers, Mr Oluseyi Abe was speaking with Channels Television at a forum of the operators in Lagos.

He says stockbrokers’ willingness to contribute to entrepreneurship falls in line with the need to diversify the African economy.

He further added that there is need for the entrepreneurs to be empowered, which will help to take business development to the next level.

How To Spot Business Opportunities In Difficult Environments

web_prog_businessmorningAspiring entrepreneurs in the country have been advised to spot the opportunities in a difficult environment and make them work.

Two development experts, Joel Osebor and Edward Esene gave the advice on Business Morning.

According to them, many young entrepreneurs spot opportunities in the market, but are discouraged by macro-economic variables such as high lending rates power and transport challenges.

They advised them to identify the opportunities, pay attention to the needs and demands of their society and provide the needed services.

Entrepreneurs Discuss Books, Business On Channels Book Club

Two of Nigeria’s most accomplished entrepreneurs – Kehinde Kamson, the Founder of Sweet Sensation Confectionery Limited and Tokunbo Talabi, the Founder of Superflux Group, joined the Channels Book Club to discuss their books for aspiring and established entrepreneurs.

Also The Goethe Institute’s Author’s Talk features Tracy Osokolo, Iquo Eke and Falowo Damilare doing their thing with books and poetry.

Then catch the exciting list of expectations for the Ake Art and Book Festival billed for Abeokuta in November 2013.

Enjoy!

African Social Media Week Kicks Off In Lagos

The first ever Social Media Week to be held in Africa kicked off in Lagos on Monday with its first forum; “Enterprise Creative Presents: My Journey” which will be followed by a series of 17 other events holding at different centres in the metropolis today.

The event dubbed #SMWLagos, according to the official site of the event, is put together to explore how people and organizations are connecting to share new ideas and information.

The different forums are set to host thought leaders, bloggers, musicians, activists, entrepreneurs and everyday citizens from Nigeria -and throughout the continent and the diaspora.

The Full #SMWLagos daily event schedule can be found here: http://socialmediaweek.org/lagos/schedule/.

The event is produced by Dragon Africa and AFRIKA21.

 

Human Development: Govt. should address the fundamental issues – Expert

With the launching of the 2nd edition of the YOUWIN Initiative programme aimed at developing young entrepreneurs, Business Morning had Michael Adeleye who is a human capital development expert as a guest.

He reacted saying it is a great initiative by the Jonathan administration but the fundamentals are being looked into properly and that is where he has issues with concerning the initiative from his own judgement.