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Micro businesses overcoming the challenges of doing business in rural areas

Contrary to the erroneous belief in some quarters that doing business in rural areas is immune from the common challenges that businesses generally face, reality is that micro business owners in underserved areas also have peculiar challenges they go through.

Some of these challenges include difficulty in accessing goods on time. Dearth of infrastructure such as good road network, long distance to the market and lack of adequate transportation system to move purchased goods are among the factors that constitute access barriers to goods and commodities.

As a result, many micro business owners spend longer time or wait for days and weeks to receive inventory or restock, while oftentimes they experience supply shortages. The delay or disruption in supply also affects the end-users/consumers, who are unable to purchase things they need as at when due.

Painfully, micro retailers lose sales, and ultimately money whenever they have stocks-out due to inefficient supply cycles.

However, the increasing impact of digital technology that is rapidly transforming every segment of our socio-economic ecosystem is also changing the narrative positively for businesses including retail trade.

The digitalisation of the economy, which is enabling e-commerce platforms in the B2C segment and lately the B2B segment, has had and continues to have great impact on the manufacturing, distribution and retail value chains.

With B2B e-commerce, tech-driven digital solutions including warehousing and logistics infrastructure and fulfilment solutions are making micro businesses more efficient and better organised in their day-to-day operations, especially those in the underserved remote or rural areas.

So, unlike the past years when micro business owners in underserved areas faced supply hurdles, most of them today can testify of better and faster access to goods and commodities due to B2B e-commerce revolution.

This positive development is not without the efforts of B2B e-commerce platforms like Alerzo whose strong presence in rural areas and commitment to the underserved micro businesses is boosting access to extensive catalogue of products and logistics.

Through SMS, WhatsApp, phone calls or log-in onto its site where applicable, customers now easily place orders and get the goods delivered swiftly without being charged for delivery.

Alerzo’s CEO, Adewale Opaleye stated, “Our strong presence in the South-West, and continued expansion to the North-West and Central consolidate our desire to grow in a sustainable manner and continue to serve those that are underserved.

“On our Alerzoshop retail app, we have a vast assortment available to our customers to choose from, and we offer free delivery in all the over 13 cities we’re currently operational. We change the landscape for them (retailers) through on time delivery.’’

Opaleye added that, ‘‘For the past two years, we have delivered to informal retailers at no cost. With our delivery services, retailers save time, energy, and resources that they would have otherwise expended in restocking. These benefits have resulted in 85% of our retailers reducing their two to four times a week restock trips to zero.”

As digital technology makes deeper impressions on more people, it is also anticipated that the rural communities would also open up. Hence, there is a bigger role e-commerce platforms will play in reaching the underserved in light of government’s focus on leveraging micro, small and medium enterprises (MSMEs) and digital economy as critical enablers of national economic growth.

As the engine of national economic growth, the MSMEs segment is reported to contribute 50 per cent to the Nigeria’s GDP and make up 80 per cent of the country’s total employment, while the informal retail segment is worth $100 billion. E-commerce platforms, in particular the B2B segment would ultimately be needed to bridge the potential supply-demand gap that could arise.

Fidelity Partners ImpactHER to Empower 1,052 Female Entrepreneurs with Sales Skills

Fidelity Bank, a leading financial institution in Nigeria, has collaborated with ImpactHER to support 1,052 female entrepreneurs across the 36 states of Nigeria in addressing the challenges they face in their small and medium-sized businesses. Through diverse training on digital skills and direct business support, beneficiaries from two cohorts have been able to improve visibility for their businesses and consequently, increase sales.

The training, which commenced in January 2022, has had two cohorts that lasted for four weeks each, covering a myriad of topics such as Digital marketing, building your brand and selling online, etc. The participants were also assisted in putting their businesses on Google Maps, thus allowing customers and the global market to easily find and transact business with them.

Commenting on the partnership, Osita Ede, Divisional Head, Product Development at Fidelity Bank Plc said, “It has become imperative that female entrepreneurs in Africa are empowered to overcome the lack of digital literacy which impedes them from fully reaping the benefits of the digital transformation underway across Africa, and the world. We believe providing them this access will help them to thrive in their different businesses.”

According to Efe Ukala, Founder of ImpactHER, “Statistically, women and girls are 25 per cent less likely to leverage digital technology for basic purposes, 4 times less likely to know how to programme computers and 13 times less likely to file for technology patents. This therefore highlights the importance of equipping African women with digital skills that could be leveraged to scale their businesses. Let’s not forget that data shows that Africa can add 180 billion Dollars to its GDP by 2025 if we close the e-commerce digital gap.”

This intervention is critical as the Global Entrepreneurship Monitor for 2019/2020 highlighted that millions of women worldwide have started businesses over the last five years alone: the highest percentage of these women live in Africa, with approximately 26% of female adults engaged in entrepreneurial activity yet the World Bank confirms through data collected in ten African countries that on average, male-owned companies have six times more capital than female owned enterprises, resulting in monthly profits of female-owned enterprises that are, on average, 38% lower than male-owned businesses.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 6.5 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

The bank boasts of a robust bouquet of products designed to help female-led small businesses run successfully including digital loans and HerFidelity -a proposition comprising exciting features such as capacity development initiatives, access to finance, recognition and networking events, health and wellness programmes, etc, all designed to speak to the yearnings of women.

Clementina Uzogor, the Programs Director at ImpactHER, highlighted the importance of helping women with skills like this to take their businesses to the next level. “At ImpactHER, it is our mission to ensure that we equip these women with tools for their businesses to thrive”, she explained.

She also appreciated Fidelity Bank for working with them to ensure the programme was successful and impactful. “It is important to let you know that this is not the end of this training. We will be deepening our partnership with Fidelity to train and support 5,000 more women-led small and medium sized businesses in the country before the year runs out”, she divulged.

An excited participant from the second cohort, Ms Akinyemi Oluronke, a fashion designer from Lagos underscored the benefits of joining the training for her business, “I’ve been able to build an online presence, people now know my business exists and I get a lot of calls from people who found my business online. I am very grateful for this platform and the overall increase in sales I now enjoy.”

According to Carine Nneka Achokwu, another participant from the January 2022 cohort and CEO of Carine Bakery, a company that produces pastries and cakes in Lagos, Nigeria, “I have been able to increase sales by 40% after using the tools that was provided to me such as “Google My Business” and people have been calling to order from me and I’ve also been able to reach more customers. I am thankful that I can get people to patronize my business just by tapping my phone based on the knowledge I acquired at this training.”

ImpactHER is an impact-driven nonprofit organization that empowers African female entrepreneurs by bridging the gender business financing gap so as to assist them in realizing their full economic potential. ImpactHER has since its inception trained, directly supported with investor-readiness and business scalability skills & tools to over 44, 275 women across 53 countries in Africa.

This partnership also provides follow-up training and support for the participants and is one of the ways ImpactHER and Fidelity Bank help these women scale up their offerings.

Sterling Bank, NHEA recognize Nigeria’s Healthcare Champions

L-R : Head, Health Sector Finance, Sterling Bank Plc, Adewale Adebowale; Project Director, Nigerian Healthcare Excellence Awards 2022, Dr. Wale Alabi and Group Head, Health Finance, Sterling Bank Plc, Ibironke Akinmade at the 8th Annual Nigerian Healthcare Excellence Awards in Lagos over the weekend.

Sterling Bank Plc, Nigeria’s leading commercial bank, has given special recognition awards to healthcare providers who played leading roles in the fight against the COVID-19 pandemic.

The awards were given to selected recipients at the 8th annual Nigeria Healthcare Excellence Awards (NHEA), which held in Lagos over the weekend under the theme of: Innovative Healthcare Services in the Era of Change.

NHEA is an initiative of Global Health Projects and Resources in collaboration with Anadach Group of the United States of America. It is a yearly event where individuals and organisations are recognized and celebrated for their exceptional contributions to the healthcare sector.

Special recognition awards were given to Medbury Medical Services as the Most Responsive COVID-19 Testing Company of the Year and Seven-UP Bottling Company Plc as the Most Outstanding COVID-19 Consumables Manufacturer of the Year. Other recipients were African Centre of Excellence for Genomics of Infectious Diseases (ACEGID), Redeemers University in Ede, Osun State as the Most Outstanding Genomic Laboratory of the Year and Nassarawa State as the Most Outstanding State for COVID-19 Vaccination.

Speaking on the awards, Group Head, Health Finance with Sterling Bank, Ibironke Akinmade said the bank recognized and honored the champions of COVID-19 pandemic because of the excellent services they rendered while the pandemic was raging in a bid to spur them to do more.

She said, “Sterling Bank is committed to improving access to healthcare for every Nigerian and our flagship offering – digitisation of State Health Insurance Platform – prefers 360-degree solution to help states bring healthcare to every citizen as well as provide wealth of data to inform policies, planning and strategy, at no initial investment.”

Also speaking, the Minister of Health, Professor Ehanire Osagie, commended the organizers of the awards which held post the different variants of the COVID-19 pandemic and the restoration of the economy to normalcy again.

The minister who was represented by Managing Director of the Federal Medical Centre, Yaba, Lagos, Dr. Adedamola Dada, remarked that the purpose of recognizing and rewarding healthcare professionals that contributed to efficient and quality healthcare services is to foster excellence and sustain the quality.“Good healthcare delivery is a key objective of this present administration,” Professor Osagie said.

Chairman of the Advisory Board of NHEA, Dr. Anthony Omolola said, “Over the years, NHEA has continued to strive to deliver new and creative ways to honor excellence across the healthcare space. This year’s is not different at all. At these awards, we are paying attention to those who pioneered innovative healthcare services in the era of change.”

Sterling Bank’s Divisional Head, Business Growth and Transaction Banking, Mr. Obinna Ukachukwu, had observed that the bank recognized the role that NHEA is playing in the health sector by rewarding excellence and promoting positive outcomes in the sector.

He noted that Sterling Bank, a leading player in the financing of the health sector, decided to come on board to further support excellence and growth of the sector.

NHEA Executive Secretary, Vivian Alkali, expressed the confidence that with Sterling Bank’s partnership and support, subsequent editions of NHEA will meet with greater success.

The NHEA initiative, through its eminent team’s research and innovation, has continued to encourage improvements and focus on the quality and standard of service provided by various stakeholders in the industry.

Sekibo, Obi, others harp on security, leadership for economic prosperity

L-R: Prof. Oyelowo Oyewo; Coordinator of the Nigerian Association of Constitutional Law (NACL); Dr. Oruene Finebone – Secretary, Mediacal Women Association of Nigeria, Rivers State Branch; Barrister Sotonye Inyeinengi-Etomi, President of the Men’s League of Christ Church Port Harcourt; Very Rev. (Dr), Ivan Ekong, Asst. Resident Minister, Christ Church Port Harcourt; Figbene Briggs, Regional Head, South South 1 & 2 Zone; Dr. (Amb.) Victoria Ekhomu, Group MD/CEO of Trans-World Security Systems Ltd.; Very Rev. Jonathan Udofia; Pastor Ituah Ighodalo, Trinity House, International Christian Worship Center; Elder (Engr.) Stanford Tassie and Alabo (Arc) Duboye Donald Graham-Douglas, during the 2nd Edition 2022 Forum, one-day International Colloquium organized by The Men’s League of Christ Church Port Harcourt, tagged, “What do Nigerians Want?”, held in Port Harcourt.

The MD/CEO of Heritage Bank Plc, Ifie Sekibo and other notable Nigerians have affirmed that the apt way to boost economic prosperity and peace in the country is to start addressing leadership challenges and insecurity.

Sekibo and other notable Nigerians like the Presidential aspirant of Labour Party, Peter Obi, Pastor Ituah Ighodalo, Prof. Oyelowo Oyewo, Dr. Victoria Ekhomu and Barrister Sotonye Inyeinengi-Etomi, during the 2nd Edition 2022 Forum, one-day International

Colloquium organized by The Men’s League of Christ Church Port Harcourt, tagged, “What do Nigerians Want?”, extensively brainstormed on the kind of leadership the country needs and how to rescue the country from its current debacle.

Speaking on the topic, “The Economy Nigeria Needs to Break Forth,” Sekibo stressed that of important to achieving the transformation the country needs, there was urgent need to address insecurity, which according to him, is the foundation of prosperity, as no nation can achieve much where the is no peace.

Sekibo, represented by the Divisional Head, Strategy & Business Solutions, Segun Akanji emphasized that for security purposes, there must be an established functional and value adding identity system in place.

“On a higher note, I think one of the things that we need to achieve as a country is the issue of functional and value adding identity management, which is still far away from us, although, some people know that we have BVN, NIMC and a few other identity capture systems but they have not been as functional and value adding, like the social security number that most people in advanced economies carry,” he stated.

Sekibo further explained that to achieve a prosperous economy, Nigeria needs to find ways and means by policies to build dual circulation economy which thrives on three pillars.

According to him, we need to focus on building dual circulation economy where we can expand domestic production and demand by making sure that the masses are employed.

“We need to make our people are productive and stop putting subsidy in unproductive zones. When you give subsidy to people with inadequate or no income, they really cannot add value to the economy, and money has a way of flowing away due to import of consumables from other countries and because of this, a larger portion of every consumption or cash given as subsidy gets out of the country,” said Sekibo.

The bank’s helmsman further explained that to expand the domestic production, government must give the private sector support to drive employment creation, technology, which is riding on innovation and manufacturing must be in place and, the population which is an added advantage must be well educated.

He highlighted the need to examine how the country could add value to primary production for global export, emphasizing on reduction of over dependence on foreign markets but rather increase local production for export, whilst also increasing demand on local products.

Sekibo further affirmed that if states could function as proper federating units and take the lead of the competitive comparative advantages therein, wealth creation would be achieved that would bring about the desired changes.

The former governor of Anambra state and presidential aspirant, Peter Obi lamented the huge indebtedness of the country, which he blamed on unproductivity due to the inimical situation of high unemployment rate resulting to over 80million Nigerians being jobless.

He blamed the cumulative failure of government over the years on insecurity, failure to migrate from sharing formula to production formula and lack of will to transform the power sector and the need to focus and support the micro, small and medium enterprises (MSMEs).

In his paper titled, “The President Nigeria Needs”, Pastor Ighodalo harped on the need for leadership change.

He argued that what the country needs now are leaders who have vision and are ready to sacrifice for the common man, stating, “things must be done differently”.

Ighodalo believed leadership remains the bane of Nigeria’s transformation, stressing that once we get good leadership other things will fall in place.

Prof. Oyewo while speaking on the topic “Restructuring and True Federalism” was of the view that some responsibilities need to be decentralized like the police, power provision and railway.

Once there is decentralization, he believes that the state will have less dependence on the centre, “rebalancing of the constitution in terms of power and security. So, there is reason for state police.”

Oyewo maintained that regions are closer to the people, thus it will boost security, the economy and sense of belonging by the populace.

He also identified data and planning as key factors in ensuring that programmes are tailored towards the people.

Fitch Reaffirms Ecobank Nigeria’s Stable Outlook

Fitch Ratings has affirmed Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch also affirmed the Bank’s Viability Rating (VR) at ‘b-‘ and National Long-Term Rating at ‘BBB (nga)’. The rating agency released this rating last week, stating that the Bank’s IDRs are driven by its standalone creditworthiness, as expressed by its Viability Rating. Fitch had in January also rated Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook.

According to the report, though “ENG has a moderate market share of Nigeria’s banking sector assets (3.9% at end of 2021), its franchise gets an edge and benefits from being a subsidiary of Ecobank Transnational Incorporated (ETI; B-/Stable), a large pan-African banking group with operations spanning 33 countries across Sub-Saharan Africa (SSA)”.

The report stated “rising global risks will weaken domestic operating conditions as any downside to operating conditions, “Inflation (17.7% in May 2022) is expected to remain stubbornly high, posing downside risks to real GDP growth forecasts of 3.1% and 3.3% in 2022 and 2023, respectively. However, downside risks are somewhat mitigated by strong oil prices, which should also underpin growth in non-oil sectors and banks’ asset quality”. It stated.

It reiterated that the Viability Rating of Ecobank Nigeria reflects its standalone creditworthiness despite the concentration of its operations within Nigeria’s challenging operating environment, high credit concentrations, asset-quality weaknesses, modest profitability, and weak capitalisation in the context of these risks. It also reflects a sizeable franchise and a healthy funding and liquidity profile.

“Ecobank Nigeria ENG has a Shareholder Support Rating (SSR) of ‘ccc+’. Fitch sees a high propensity in ETI to provide support given ENG’s importance to the parent’s pan-African strategy as its largest subsidiary (22% of group assets at end of 2021) and its presence in SSA’s largest economy. Fitch observed that rising global risks will weaken domestic operating conditions. Inflation (17.7% in May 2022) is expected to remain stubbornly high, posing downside risks to real GDP growth forecasts of 3.1% and 3.3% in 2022 and 2023, respectively. However, downside risks are somewhat mitigated by strong oil prices, which should also underpin growth in non-oil sectors and banks’ asset quality”. it stated.

Technology firms provide more opportunities for micro businesses in rural areas

B2B e-commerce platforms continue to provide increased access to products, for micro businesses in underserved areas as they expand their e-commerce services, reaching the retail market end in the underserved rural communities across Nigeria.

Alerzo’s Founder/Chief Executive Officer, Adewale Opaleye, said the B2B e-commerce firm was revving up its market presence with an ambitious expansion drive to bring the benefits of digital solutions closer to Nigerians irrespective of their locations, especially micro businesses operating in the underserved rural communities.

“Our strong presence in the South-West and continued expansion to the North-West and Central consolidate our desire to grow in a sustainable manner and continue to serve those that are underserved,’’ he said.

Speaking against the backdrop of the impact of e-commerce on the national economy, Opaleye stated that e-commerce players in the country were offering digital solutions that enabled informal retailers to access a vast assortment of goods and commodities with ease and faster, thereby saving them lot of time, energy and resources, and ultimately bring down their operating cost.

“On our Alerzoshop retail app, we have a vast assortment available to our customers to choose from, and we offer free delivery in all the over 13 cities we’re currently operating in. We change the landscape for the retailers through our one delivery at a time model,’’ he stated.

Opaleye added that, ‘‘for the past two years, we have delivered to informal retailers at no cost. With our delivery services, retailers save time, energy, and resources that they would have otherwise expended in restocking. These benefits have resulted in 85 per cent of our retailers reducing their two to four times a week restock trips to zero.”

He noted that Alerzo was committed to alleviating the peculiar challenges which micro business owners in underserved areas go through. According to him, some of the challenges include difficulty in accessing goods on time occasioned by dearth of infrastructure such as good road network, long distance to the market and lack of adequate transportation system to move purchased goods to the stores.

There is need for more intervention of e-commerce platforms to reach the underserved, and to further boost the national gross domestic product (GDP) of which the informal retailers are critical. The informal retail segment makes up the micro, small and medium enterprises (MSMEs) bloc which serves as the engine of economic growth contributing 50 per cent to the GDP and 80 per cent of the country’s total employment.

B2B e-commerce platforms have significantly impacted the manufacturing, distribution and retail value chains by supporting them with tech-driven digital solutions including warehousing and logistics infrastructure, and fulfilment solutions. B2B e-commerce platforms like Alerzo have their presence in rural areas and are reaching the underserved with access to extensive catalogue of products and logistics. Through texts, phone calls and logging on to the site where applicable, customers now easily place orders and get the goods delivered swiftly without being charged for delivery. So, unlike the deprivation of past years which micro business owners in underserved areas faced, most of them today can boast of better and faster access to goods and commodities.

Gbajabiamila is pride to Lagos, face of effective legislature – Lagos Assembly

The Speaker of the Lagos State House of Assembly, Rt. Hon. (Dr.) Mudashiru Ajayi Obasa, and members of the House on Monday showered encomium on Rt. Hon. Femi Gbajabiamila, Speaker of the House of Representatives, who recently clocked 60.

The members of the House spoke during plenary describing Gbajabiamila as one who has brought pride to Lagos State.

Speaking about Gbajabiamila’s legislative acumen, Rt. Hon. Obasa described the Speaker of the House of Representatives as “a legislator who carries out his duty with passion and dedication. He has sacrificed his own personal interest in the interest of the people.

“You will recall during the reign of the Peoples Democratic Party (PDP); he was awarded a national honour, but because he had reservations the way and manner the country was being managed then, he rejected the offer.

“This shows that he has always been with the people and serves in the interest of the people. He has also contributed a lot to the development of legislative institutions in this country.”

The Speaker thereafter directed the Clerk Barr. Olalekan Onafeko to transmit a congratulatory letter to the celebrant.

The Deputy Speaker, Hon. Wasiu Eshilokun-Sanni, in his congratulatory message described Rt. Hon. Gbajabiamila as an example of what a legislator should be .

“He has shown that the older the wine, the better the legislature,” he said.

Majority Leader of the House, Hon Sanai Agunbiade, described Gbajabiamila is a man that is charismatic of the office he occupies.

“He is calm, composed and each time you watch him preside, you would know an experienced legislator is presiding,” he said.

The Deputy Whip of the House, Hon. Mosunmola Sangodara, described Rt. Hon. Gbajabiamila as a great leader who has brought developmental projects to Surulere constituency.

“He is a very outstanding man. His success cannot be far-fetched as this trait can be seen in his mother who was once a Local Government chairperson and performed very well during her time,” she said.

In his contribution, Hon. Temitope Adewale from Ifako-Ijaye said Speaker Gbajabiamila had shown to the world that there is credence in legislature .

“We are celebrating a man from Lagos who has rose from the ranks to become the ‘number four citizen’ in the country,” he said.

While lending his voice to the debate, Hon. Sa’ad Olumo opined that “Gbajabiamila had done everything in terms of quality representation. He has great impact on us in his capacity and representation.”

Sunday Musings: My Position on Bola Ahmed Tinubu (BAT) – Prof Bolaji Aluko

The man called Asiwaju Bola Ahmed Tinubu (BAT) is an enigma.

I have known him since 1994 or so, and he actively enjoys his mystique, and luxuriates in powers assigned to him that he really does not always have. Despite everything said about him, many SW Yoruba people and the rest of Nigeria are probably intrigued, even enamored about his rags-to-riches, nothing-to-something rise to power.

BAT’s opponents do not seem to fully understand that the mystery behind his origins give him an unusual mystique. It is said he is from Iragbiji, not Lagos. It is said that his mother is not Madame Tinubu. It is said that he did not go to GCI as claimed, or that it was Chicago State University, not University of Chicago, that he attended. His primary school is now a mystery. It is said that he is 84 years old not 70 or even 72.

Oooo…mo gbo. Up until today, the Yoruba still discuss the origins of our progenitor Oduduwa, whether he came from New Bussa then through Old Oyo, or from Egypt (as Lamurudu), or from Benin (as Ozoduwa or Ekhalredan) – or whether he merely dropped from the sky. The “atapatadide” person is kind of celebrated in our clime, the silver-spoon-fed child dismissed as a lucky blighter.

My advice to BAT’s political opponents is that it is his political achievements – or lack of them – and his promises – and perceived (in)ability to achieve them – that should be interrogated, not his historical origins. He is not an angel, but who is, and he has not been walking along papal corridors.

Yes, attack BAT’s political achievements and wealthy circumstances with facts and figures – that is fair game – but not with insinuations and innuendoes and fake dated documents. However you will also have to explain how this Hercules of an Oduduwa-like fellow could have done all of these things alone all of these years…

I am not uncomfortable with spotlights on BAT. I am merely advising that energy be appropriately directed.

Now If you go into the archives, you will read that in 1999 I was one of the most ardent defenders of BAT during the travails leading to his governorship in 1999, as I used my own knowledge of the US academic record idiosyncrasies to defend him. Even many PDMers attacked him and myself then, but I understood very well the Afikuyomi angle of the story. I remember late Dr. Beko Ransome-Kuti once calling me from Lagos to ask what the hullabaloo was about University of Chicago and Chicago State University….”Sebi varsity ni Chicago ni awon mejeji?” So when I carefully explained the difference in terms of national ranking and international reputation, and that BAT took courses in both but his degree is really in only one of them, Beko just hissed in his inimitable manner and said “Kan fi Bola sile ojare! University ewo ni Nigeria lo better Chicago State University?”

My defence – or even explanation – of BAT has nothing to do with our both being Yoruba. In fact, some of his most ardent critics are Yoruba. But I always resist the subtle blackmail in Nigeria where every ethnic group defends its own right or wrong, but when a Yoruba defends a Yoruba, he is accused of being an ethnicist.

The fact of the matter is that Nigeria is still just a country, not a nation of shared values yet, but one of a nation of nations. So it behooves of us public intellectuals to be honest enough to admit that in our interactions with each other, there may be cultural nuances that we exhibit that grate each other. Explanations are not necessarily excuses.

Finally, will BAT emerge as Nigeria’s president in 2023? There is nothing more difficult to predict than the future, but he stands a good chance against the present co-contestants. Indeed, o le je eleyi to nje Bola Ahmed Tinubu lo kan!

There you have it.

Bolaji Aluko

June 26, 2022

Alerzo E-commerce platforms empowering retail businesses

It is worthy to note that e-commerce platforms operators in Nigeria are in no little way contributing to the promotion of MSMEs. Alerzo, a leading e-commerce platform in Nigeria is ahead of the pack in making strides towards empowering retail business owners with its various innovations including loan provisions.

This is following the data from the National Bureau of Statistics as well as the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), that Micro and Small Medium Enterprises (MSMEs) account for about 96 percent of registered Nigerian businesses that employs about 75% of the national labour force, and contributes about 48% to the country’s Gross Domestic Product (GDP), it is clear that the Micro and Small Medium Enterprises (MSMEs) form the bedrock of the economy.

With its cashless payment and lending platform – Alerzopay, Alerzo provides retailers, regardless of their economic situations, with working capital to keep their stores running and to drive financial inclusion to the excluded informal retailers.

With the advanced POS terminals that run on Alerzopay platform, retailers can act as agents: processing customer deposits and withdrawals to purchase goods or use as spending cash and process value added services such as utility bill payments, etc.

The integration of Alerzopay and the use of the POS machines in their customers’ businesses improves their overall profit margins, as retailers receive commissions for each transaction carried out on the platform.

AFRIMA MEETS ECCAS, UNESCO IN GABON, DISCUSSES PLANS TO STIMULATE AFRICA’S CREATIVE ECONOMY

President/Executive Producer, All Africa Music Awards (AFRIMA), Mr. Mike Dada; United Nations Educational, Scientific and Cultural Organisation (UNESCO) representative to Gabon and ECCAS, Mr. Eric Voli Bi, at the ECCAS Secretariat, in Libreville, Gabon

As the All Africa Music Awards (AFRIMA) began its countdown to the 2022 main awards ceremony, Monday, with the call for submission of entries from artistes, the continental awards platform has restated its commitment to uplifting the African creative economy, using music as its tool.

It made this known during a recent strategic stakeholder meeting, in Libreville, Gabon, with the President of Economic Community of Central African States (ECCAS) Commission, Minister of Culture and Tourism, Gabon, delegates and senior officials from the United Nations Educational Scientific and Cultural Organisation (UNESCO), as well as delegates from Centre International des Civilisations Bantu (CICIBA) who are excited about the AFRIMA initiative.

AFRIMA, which is in partnership with the African Union Commission (AUC), corroborated UNESCO’s standpoint, on the need to deepen Africa’s creative exports, especially through providing access to training and resources for young aspiring creatives.

According to UNESCO’s representative to Gabon and ECCAS, Mr. Eric Voli Bi, Africa’s creative economy needs more support and opportunities for the youth – who make up the larger chunk of the workforce – to thrive.

He said, “I must thank AFRIMA for constantly projecting the continent in a positive light to the world, and for giving African youths opportunities to be recognised on a continental and even global scale. UNESCO is always interested in youth education and development initiatives, and AFRIMA is one veritable platform to help stimulate potentials among these youths. I believe, with one voice, we can speak louder. That is the way to go.”

The President of ECCAS Commission, His Excellency Gilberto Da Piedade Vérissimo, accompanied by Her Excellency Ms. Kapinga-Yvette Ngandu, Commissioner in charge of the Department of Gender Promotion and Human and Social Developments, ECCAS, welcomed the AFRIMA delegates to its regional secretariat and pledged support towards AFRIMA. He assured that ECCAS will partner AFRIMA to provide capacity building for African youths across the central African region as well as develop its music industry.

Vérissimo said, “Every year, we see our African artistes shine on global levels. It will be retrogressive for us, if we do not invest in them as well. ECCAS, in partnership with the European Union, will continue to invest resources into capacity building for African youths, especially within the entertainment sector. Apart from healthcare and education, the cultural and creative sector of the Central African region is within our primary focus. We are excited that platforms like AFRIMA thrive to give voice to our objectives, and we will pull our weight behind it, for the growth of the continent.”

On behalf of the awards platform, the President and Executive President, AFRIMA, Mr. Mike Dada, assured Africans that the AFRIMA, which has been running since 2014, will continue to prioritise inclusivity in its capacity-building initiatives.

(From Left) Commissioner in charge of the Department of Gender Promotion and Human and Social Developments, Economic Committee of Central African States (ECCAS), Her Excellency, Ms. Kapinga-Yvette Ngandu; ECCAS President, His Excellency Gilberto Da Piedade Vérissimo; President/Executive Producer, All Africa Music Awards (AFRIMA), Mr. Mike Dada; AFRIMA Associate Producer, Ms Victoria Nkong, at the ECCAS Secretariat, in Libreville, Gabon.

“AFRIMA, and all its supporting initiatives, like the Africa Creative Academy, which we have in the pipeline, is for the entire continent. It is not an East African affair, or a West African Affair. We are one voice and one platform for the African people. So, our capacity-building efforts will cover the length and breadth of the continent and the diaspora. We equally apply this same character in all our campaigns, especially our submission of entries which is ongoing from now till August 5, 2022; it covers everyone across the continent and the diaspora.

“We have done this since 2014, and we are committed to consolidating our efforts this year, with even more zeal, initiatives and twists, to make AFRIMA the pride of not just the African individual, but also every black person and lover of African music out there.”

The main ceremony of the All Africa Music awards will be held from Thursday November 3 to Saturday November 6, 2022. It will feature a 4-day fiesta of music, glitz, and glamour, which commences with a welcome soiree, followed by the AFRIMA Music Village, the host city tour, African Music Business Summit, and the exclusive nominees’ party, before culminating with the live awards ceremony broadcast to over 84 countries around the world.

The submission of entries for the awards is also ongoing for artistes, artiste managers, record producers, recording companies, video directors, disc jockeys and other relevant stakeholders can submit their work or submit on behalf of their clients via the official afrima website at www.afrima.org. All entries must be done in consonance with AFRIMA guidelines, which are also available on the website. Importantly, all prospective entries must have been created between August 20, 2021 and August 5, 2022, being the year-in-review for all submissions.

African music lovers can follow through with the build-up events to the main awards, by engaging the social media platforms (Instagram – Afrima.official; Twitter – Afrimaofficial).