The Weekender Edition 8

Saturday, 19 September 2020

WEEKENDER

EDITION 8

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19 SEPTEMBER 2020

UNDERSTANDING FOOD FOR PHOTOGRAPHY ENERGY ROUNDUP FINALISTS EMERGE FOR LAGOS SMART METER HACKATHON Two Winners to share 7 Million Naira

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FINANCE Nigerians and the money-spraying culture

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Editorial

Saturday, 19 September 2020

PUBLISHER/EDITOR IN CHIEF Frank Aigbogun MANAGING DIRECTOR Ogho Okiti EDITOR BUSINESSDAY Patrick Atuanya EDITOR BUSINESSDAY SATURDAY Lehlé Balde

Editor’s Note

By Lehlé Balde | SEPT 2020

EXECUTIVE DIRECTOR, OPERATIONS Fabian Akagha EXECUTIVE DIRECTOR, STRATEGY, INNOVATION & PARTNERSHIPS Oghenevwoke Ighure MANAGER, CONFERENCES & EVENTS Obiora Onyeaso MANAGER, ADVERTS Ijeoma Ude

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hope you are all doing well and staying as safe as you possibly can.

This week was my birthday and I am grateful for the gift of life. Many people lost their lives during the COVID-19 pandemic and being able to celebrate a birthday in these very interesting times is more than a blessing. Thank you for all the birthday wishes.

I am grateful for many things including you the readers, who turn the pages of the Weekender. We appreciate the support and feedback. Our aim is to be a pleasant informative Saturday read for Africa’s smartest dynamic young professionals.

Our front cover story invites you to discover more about food photography and I hope you can learn a thing or two. Here a bit of what you can expect in our news roundup: Prices of flour, rice, beans, tomatoes, bread jumps, as low patronage hits major markets. El-Rufai signs law to castrate rapists.

In happy news: Nigeria moves to regulate crypto currencies and other digital investments. Pearlena Igboke appointed new chairman of universal studios. BUA donates additional N350 million to CACOVID. Otedola splashes 386 million naira on Ferraris for his 3 daughters.

As always discover some refreshing content from myriad of contributors inside the pages of the BusinessDay Weekender. This weekender learn about how to navigate the job makers’ market, an exploration of the popular ‘spaying culture’, personal finance in marriage, a review of Eriye Onagoruwa’s Dear Alaere, an article on the importance of female entrepreneurs, 3 things you should ask your kids before school resumption, an article on antibiotic abuse, a delicious and simple easy follow to recipe.

Have a restful weekend. Thank you for reading the BusinessDay Weekender.

With gratitude,

Lehlé Balde

COPY SALES MANAGER Florence Kadiri DIGITAL SALES MANAGER Linda Ochugbua HEAD OF DIGITAL SERVICES Onyinye Eze HEAD, HUMAN RESOURCES Adeola Obisesan CREATIVE LEAD Doyin Philip DESIGN AND ART DIRECTION iSixty CONTRIBUTORS Chinenye Nwosu Osse Sinare Vivian Ojo Toju Akpa Mercy Ayodele Titilade Oyemade Titi Adewusi Oge Funlola Modie Karen Adie Evans Mbugua Vumile Msweli Weyinmi Eribo Monisola Adanijo Toyosi Lawal Fikayo Babatunde Glory Enyinnaya Anthony Nlebem Lehle Balde Isaac Juniho

Enquiries lehle.balde@businessday.ng http://www.businessday.ng/ The Brook, 6 Point Road, GRA, Apapa, Lagos, Nigeria.

01-2799100

Lehlé Balde is the Editor of Business Day Weekender

Legal Advisers The Law Union

email: lehle.balde@businesssday.ng | social: @lehlelalumiere

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News Roundup To build a stronger choice guide, CEO magazine in partnership with the Global Business Policy Institute (GBPI) carried out a survey across 127 countries using 19 criteria under two broad categories – liveability and professional opportunities.

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aduna state government signs new law to castrate child rapist. The rise in rape cases in Nigeria is scary, worrisome and an ugly phenomenon, especially the sexual abuse and exploitation of minors, that is under-aged girls, according to Professor Joy Ngozi Ezeilo OON. Between January to May 2020 alone, Nigeria recorded 717 rape cases.

To this end, the United Kingdom, Germany, Canada, United States and Japan have been ranked the best five countries to start a career globally, while Nigeria, Uruguay, Libya, Syria and Yemen are the worst countries to start a career.

The Kaduna state government has made a commendable effort to put an end to this gruesome act that has been going on for centuries in Nigeria as it was announced on the 16th of September 2020 that Governor Nasir El-Rufai has signed the State Penal Code (Amendment) Law 2020.

In the new law signed, rapists convicted of violating minors below the age of 14 will be punished with surgical castration or removal of Fallopian tubes, in addition to the death penalty, according to the amended sections.

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In 2017, the Central Bank of Nigeria (CBN) banned all crypto transactions and operations, but on the 14th of S e p t e m b e r, t h e S e c u r i t i e s a n d Exchange Commission (SEC) released a statement that it will regulate trade in all digital currencies to provide protection for investors and to ensure that transactions are transparent.

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black woman now heads Universal Studio Group.

Makers of the popular movie ‘the fast and furious’, Universal Studio Group, has appointed Pearlena Igbokwe a Nigerian-born media executive as the chairman for the organisation.

This is the first time a woman of African descent is heading a major American television studio. According to a statement by the company, Pearlena will take over Bonnie Hammer and she will lead the company’s growing global television studio businesses and report directly to Jeff Shell, CEO, NBCUniversal.

eet the best and the worst countries to start a career.

According to the National Citizens of less developed countries have been travelling to advanced countries to better their lives for over 60 years. The choice of the advanced country to travel to has been left to sentiments, where family/friends are located and many other non-technical methods.

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Pearlena lives in Los Angeles, California and she has a Bachelor of arts degree from Yale university and an MBA from Columbia University. She currently serves as the Vice president of the Hollywood radio and TV society board.

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cryptocurrency started as far back as 2009 and was particularly made popular through the use of Bitcoin. For many years now, many countries, Nigeria inclusive, have linked cryptocurrency to internet fraud and other illegal cyber activities but countries like the United states, Finland, Canada, Australia and the European Union have maintained a cryptocurrency-friendly stance.

igeria moves to regulate cryptocurrencies and other digital investments. The use of

There are no specifics on this regulation yet but this move could mean that the N i g e r i a’s a t t i t u d e t o w a r d cryptocurrency is changing.

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eet the best and the worst countries to start a career.

Nigerians have started to complain about the hike in the prices of key food items like flour, rice, beans, tomatoes and bread. The year 2020 has indeed been a year of rising food prices in Nigeria and with so many people complaining about job loss, salary cuts or no salary at all, this means that the poverty level in Nigeria is going to be worse than forecasted.

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A 50kg bag of Honeywell flour now costs N14,375 from its previous price of N11,070, while a bag of brown beans costs N33,000 from its former price of N30,375. The cost of round shaped tomatoes which was previously between N8,000 to N10,000 is now N12,000, while a big loaf of bread which was previously purchase at N250 now goes for N500 in some states in Nigeria.

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raders and Artisans abandon face masks and sanitizers as fear of COVID-19 fades off for most Nigerians. Many Nigerians have stopped wearing their facemasks or moving around with their hand sanitisers as they b elie ve that coronavirus no longer exists in Nigeria.

Another faction is of the opinion that the virus is a rich man’s disease and are therefore no longer afraid of contracting it.

buy necessities. Other persons created jokes around the Ferrari purchase by Otedola by photoshopping themselves beside the picture.

Particularly, people in the markets, hawkers on the streets and even passengers in buses are no longer paying attention to the safety measures.

Coronavirus cases in Nigeria have dropped significantly this month but experts have said that this is mostly due to reduced testing. The resumption of domestic and international flights will however increase the number of tests done and the case load will be reanalysed, according to analysts.

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tedola splashes N386 million on 2020 Ferraris for his three daughters. Nigerian billionaire and business man Femi Ote dola broke the internet on Wednesday as pictures of his daughters’ Ferraris flooded social media. His daughters, Cuppy, Temi and Tolani took to social media to flaunt their Ferraris with branded plate numbers bought on the same day by their father.

Using 2020 Ferrari prices quoted on Caranddriver.com, the three Ferraris were worth N386 million. Some Nigerians took to their Instagram and Twitter to complain about this move by Otedola saying that this money could have been used to feed the poor and

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konjo Iweala makes World Trade Organisation (WTO) final shortlist.

Former finance minister Okonjo Iweala is making Nigeria proud as she makes final short list of the candidates for the Director General of WTO.

She was able to secure more support than other competitors Jesus Seade, Hamid Mamdouh and Tudor Ulianovschi who were dropped from the contest.

Those left in the race are : Saudi Arabia’s former minister of economy and planning, Mohammad Maziad Al-Tuwaijri; UK’s former secretary of state for international trade, Liam Fox; South Korea’s trade minister, Yoo Myung-hee and Kenya’s former international trade minister, Amina Chawahir Mohamed Jibril.

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Saturday, 12 September 2020

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Energy Roundup How do we really hope to make LPG affordable to people who live on N760/day?

How do we hope to sign on the poorest of the poor to LPG?

LPG on US$2 Per Day Chinenye Nwosu SEPT 2020

One way would be to increase their earnings by growing the economy in a tangible manner. Alongside this, we need to provide economic incentives – tax rebates on the cost of cooking equipment and encouraging the development of refill depots to increase accessibility. The long-term advantages are tangible – healthier families and the environment and saving on cooking fuel costs.

It’s not enough to say that the poor do not have knowledge about these things – reality will always trump any information in your head. If you had N760 to care for yourself and family for one day, what buying choices would YOU make? A N500 LPG refill, or N100 coal, so you can buy some actual food with the change? What LPG solution would make the most sense to you?

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walked through a shanty town recently.

It’s a residential area with an intricate maze of interconnected shacks; improvised homes that are inhabited by low income earners. It is iron sheets put together over a couple of rows of cement blocks and wood in other places that hold up the window. It is littered with small petty goods shops and wandering community pets.

It is a large sprawling community where everyone knows everyone else no map or addresses work here - you must be led by another. It is a world within another world, confident in its right to belong there, yet lacking the structure of proper town planning. Most of the trade was in coal for cooking and no one could be bothered to keep up the pretense that cooking with kerosene was still an option. Liquefied Petroleum Gas (LPG) or cooking gas was non-existent.

LPG is a derivative of the crude oil and natural gas refining process. It is usually all Butane (C3), all Propane (C4), or a combination of both. Butane is used predominantly in tropical climates due to its stability in hot weather, and propane is the natural choice in temperate regions. Nigeria’s LPG is about 80:20 butane to propane.

Why is there so much noise about LPG being the better cooking fuel? Charcoal and firewood come from felling trees that help keep the earth’s ecosystems stable. Deforestation is the leading cause of climate change, desert encroachmentand wildlife depletion. Worse still are the negative effects on human health - respiratory problems and eye damage. What about kerosene? It has a few issues – it doesn’t burn as efficiently as some other cooking fuel sources, is often scarce and LPG on the other hand burns more efficiently, does not produce any smoke, and the by-products of burning the gas are carbon dioxide and water. It needs to be stored in a pressure controlled, leak free cylinder, and can be used with a variety of cooking appliances, The downside is, all this equipment can be expensive - a 6kg cylinder fixed with a burner retails for about N10,000 (US$26), or 30% of the current minimum wage in Nigeria. Add this to an estimated poverty rate of 48.4% representing people who live on $1.90 a day.

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1. Price culled from konga.com on 16 September 2020 2.https://guardian.ng/saturday-magazine/new-minimumwage-of-n30-000-takes-effect/ 3. World Bank Country Poverty Brief (Nigeria), October 2017; http://databank.worldbank.org/data/download/ poverty/33EF03BB-9722-4AE2-ABC7-AA2972D68AFE/ Archives-2017/Global_POV_SP_CPB_NGA.pdf

TOWARDS IMPROVING ELECTRICITY ACCESS IN LAGOS:

FINALISTS EMERGE FOR LAGOS SMART METER HACKATHON Two Winners to share 7 Million Naira SEPT 2020

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he Lagos State Government has announced the frontrunners that will participate in the final hackathon design event slated for 16th through 18th September, 2020 when the governor of Lagos State,

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Mr. Babajide Sanwo-Olu will announce the overall winner from each competing entries in hardware and software categories at the Grand Finale, at the Eko Innovative Centre, No. 50 Awolowo Road, Victoria Island, and Lagos. Five contenders each emerged from both categories of the competition, and the two winners will share the prize money of seven million naira.

Finalists were shortlisted after a transparent, rigorous and competitive process. Hackathon received two hundred and seventy four (274) registrations or entries; one hundred and twenty seven (127) of which bid in hardware category, while one hundred and forty seven (147) competed in software group. However only sixty five (65) hardware and software prototypes were submitted by applicants. The shortlisted five finalists from hardware category are: Cosmo Automation, Smart Energy, Techwizard, Power Bit Cruchers and Gadozz Electricals, while the five software finalists are: Vectorians, Zeena Platform, Magnitronics, Chosen Soft Tech and Gideon.

This Initiative of the Ministry of Energy and Mineral Resources is aimed at providing affordable electricity meters to the populace by facilitating the design and production of meters that will accelerate efforts towards achieving improvement in energy distribution, monitoring and prevention of revenue leakage.

Suffice to state it here that over 60% of Lagosians and Nigerians are estimated to be unmetered due to unavailability and the high cost of meter acquisition. The Lagos State Government is therefore leveraging bright local talents to design and produce affordable smart electricity meters.

Speaking on the Hackathon judging process, Mrs Doja Ekeruche, Advisory Board Member, Eko Innovation Centre, curators of the Hackathon, noted that 19 judges with expertise in the power and tech ecosystem participated in the shortlisting process that produced the finalists. “We asked companies in the Energy and Tech ecosystem to nominate representatives to serve on the selection panel, tasked with shortlisting the top five finalists from both hardware and software tracks to proceed to the final hackathon events,” she explained.

She added: “At the end of the shortlisting phase, a session was held with the judges to discuss the reviewing process, and an analytics team ranked the submissions by all judges to arrive at the top finalists.”

It should be noted that during the launch of the programme on July 30th, 2020 by Lagos State Governor Babajide Olusola Sanwo-Olu, he noted that the Smart Meter Hackathon Initiative marked a significant milestone in the implementation of the State Government’s plan towards improving access to electricity as it aligned with the

Saturday, 19 September 2020

Sustainable Development Goal 7 of the United Nations targeted at achieving universal access to affordable, reliable, sustainable, and modern energy for all by 2030. At the virtual launch, while stating his resolved to achieve SDG in Lagos, he added that the initiative “fits well within the six pillars of the development agenda of his administration (T.H.E.M.E.S), which includes driving technology-driven innovations to transform Lagos into a 21st century digital economy and Smart City. This Lagos Smart Meter Program is an important way for the Lagos Government to demonstrate its commitment to improving electricity access and reliability for Lagosians. We believe that adequate metering of Lagosians and in turn Nigerians, would increase willingness to pay for electricity, improve productivity and, more importantly, continue to improve the living conditions of our people.” he stated.

And, at the same ceremony held, the Minister of State, Federal Ministry of Power, Goddy Jedy-Agba stated in his keynote address that the local design and production of affordable meters would help transform the power sector and the economy at large. He urged all stakeholders to support the initiative, stressing that getting access to electricity right in Lagos “is critical for access to electricity in the entire country, considering the state's population and economic landscape.”

The convener of the Lagos Smart Meter Hackathon, the Honourable Commissioner for Energy and Mineral Resources, Lagos State, Mr. Olalere Odusote, added his voice that the initiative was expected to provide access to affordable smart meters for Lagosians to improve electricity supply, monitoring, and trust between electricity providers and end users while preventing revenue leakage, as programme.

In his words at the Launch the Hon Commissioner stated “the initiative is expected to drive innovation and creativity while generating new interest in young people for the sector.

Over the years, despite significant investments and resolutions along the electricity value chain, there remains a huge metering gap of over 60% of electricity consumers in Lagos and Nigeria. This metering gap is what we are seeking to bridge through the Lagos Smart Meter Hackathon. In line with the objectives of the Babajide Olusola Sanwo-Olu (BOS) Administration to make Lagos a 21st century economy, we have identified the need to intervene and support the facilitation of effective metering across the state, to ensure the provision of reliable electricity for Lagosians and Nigerians in the long-term.”

The Lagos Smart Meter Hackathon 2020 is convened by the Lagos State Ministry of Energy & Mineral Resources; curated by Eko Innovation Centre; sponsored by Access Bank Plc, Egbin Power, Ikeja Electric Distribution Company, Mojec International, Eko Electric Distribution Company, MOMAS Electricity Meters Manufacturing Company, ElSewedy Electric, Royal Power & Energy, Venture Garden Group, InfraCredit, Axxela Limited; and supported by The Lagos State Office of Innovation and Technology, Lagos State Employment Trust Fund (LSETF), the Nigerian Electricity Management Services Agency (NEMSA), Africa Fintech Foundry (AFF), Oracle, IBM, General Electric, Business Day and Accelerate TV.

Chinenye Nwosu has worked in the oil and gas industry for over 10 years. Her current work is targeted at improving energy accessibility and security in the West African region, and ideas for the increased utilization of existing energy resources.

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Culinary Delights

By Lehlé Balde

croaker fish and jollof rice SEPT 2020

Method for Croaker Fish 1. Descale the croaker fish then wash it properly with hot water to get rid of unwanted smell 2. Place the croaker fish in a clean grilling dish, add all the ingredients into the fish 3. Use hands to rub in the ingredients properly into the fish then drizzle with cooking oil, lemon and lime juice 4. Make three slits on both sides of the fish and ensure that the ingredients are rubbed into the slits as well 5. Cover the fish with a cooking foil, make slits through the foil and place in a pre-heated oven of 150-250 C to grill 6. Allow the fish to grill until properly cooked 7. Once the croaker fish is cooked, bring out from the oven and serve immediately warm Introduction

Stovetop method for Jollof Rice

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1. Heat oil in a medium saucepan over medium-high heat.

ere is a delicious croaker and jollof rice recipe you can make for yourself or your loved ones.

2. Next add onions, thyme, and garlic, cook for about 2 minutes or until onion becomes soft and translucent.

3. Add rice, season with paprika, bouillon, salt, and pepper.

Ingredients for Croaker fish 1 fresh lime, Salt to taste, 1 croaker fish, 1 fresh lemon, Dry parsley leaves, Fresh rocket leaves, Fresh parsley leaves, 2 Maggi cubes, 1 teaspoon mixed spices, 2 teaspoons vegetable oil

4. Cook stirring for about 2-3 minutes.

5. Pour tomatoes sauce, chicken broth, and hot pepper 6. Bring to a boil stirring once or twice. Reduce heat to low, cover saucepan and simmer until rice is tender and liquid is absorbed, for 15-18 minutes.

7. Remove pan from heat, let it sit covered for 5 minutes then turn the rice with a fork or serving spoon.

Ingredients for Jollof rice 4 Tablespoons oil, 1 Tbsp butter, 4 Fresh tomatoes or one 14.5oz can of diced (no salt), 1 6oz can Tomato paste, 4 Maggi cubes, 4 Red onions, 2 Red bell peppers, Crayfish, 4 peppers, 4 1/2 cups of long-grain parboiled rice, 2 cups of chicken stock, Salt, Cayenne pepper and black pepper, White pepper, Bay leaves, Curry powder, Garlic or onion powder, Ginger, Thyme leave Businessday.ng

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8. Throw in sauteed veggies and/or beef, chicken and shrimp and mix, if desired 9. Garnish with parsley There you have it, your meal is ready. I hope you enjoy making this croaker fish and jollof rice recipe as much as we did.

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Photo of the Week

Chemka Hot Springs Tanzania Osse Sinare Content Creator | Youtuber | Photographer www.ossegrecasinare.com Businessday.ng

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The Business of Employment

Funemployment: Navigating the Job Makers’ Market Vivian Ojo SEPT 2020

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ast month I entered an Uber, and the driver asked me what I did for a living. I told him I was funemployed and proceeded to share how I have continued to earn throughout the period. We discussed my definition of funemployment and I shared some of the work I do in supporting the job finding process for young people. He seemed interested and began to tell me about his own experiences within the treacherous Nigerian job market. He said that he would love to get help from www.thewritewritingcoach.com but imagines that my support applies only to white collar professionals. I was taken aback and was glad to take the longer route to talk more about how, in principle, the keys to getting your next best job as a CEO might not be so different from securing a semi-skilled labour position.

It is unfortunately true that who you are and the demographic advantages and privileges you possess do matter for the roles you can access. It shouldn't, but your race, gender, tribe, alma mater and even accent can have huge ramifications on how the job market perceives your value and I will discuss some of these social factors in more detail in the next article. For now, I can confirm that based on the diversity of profiles I have worked with, I have found that regardless of those factors, most people already have within their possession a majority of what is needed for their next job. Aside from the hard skills learnt on the job, the ability to get the next job is about how you handle and solve problems and this skill primarily comes from an archive of experiences you already have. The job hunt is ultimately about leveraging three tools you already have in your possession; your network, your communication and your time.

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Your network is a central piece for not simply finding but keeping and growing in a job. With over 33% of unemployed Nigerians citing lack of information and contacts as their reason for unemployment, according to the National Manpower stock and employment Generation Survey 2010, the power of networking is evident. Yet for many, networking conjures images of awkward smiles, nametags, and repeatedly answering the dreaded question “what do you do?” with different nuances in an effort not to bore oneself. The dread of these scenarios alone, have kept many people in jobs they do not enjoy because they simply are unwilling to invest in networking for something else. While these types of events can be important, equating them in absolute terms to “networking”, paints an incomplete picture of this tool because they focus too much on active networking, while neglecting the passive networking that is core to relationship building.

Passive networking is the networking you do when you are not necessarily exchanging business cards and talking about work. In fact, you can network perfectly well without ever having to discuss work because passive networking is about relationship building- discussing common passions, problems and ways of thinking with those around you- and showing genuine care and interest in them. Passive networking is a sure way to build the kind of network that works for you and is not only for the super intellectual white-collar workers- it is for everyone. Passive networking is a sure way to build the kind of network that works for you and is not only for the super intellectual white-collar workers- it is for everyone.

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As I left the uber driver, I reminded him that “in many ways, driving upwards of 15 people a day from different walks of life can be a great place to begin to passively network.” The result of successful passive networking can be information and insight on an industry to explore, an introduction and connection to another network and more often than people realize - a job. Passive networking is a sure way to build the kind of network that works for you and is not only for the super intellectual white-collar workers- it is for everyone.

Communication is the second tool you already have. It is true that like all other tools, we are not equally endowed with the gift of the garb or pen, yet at the most basic level, most young Africans have enough to begin to communicate their objectives. One of my favorite communication mantras is “resist the urge to tell, find a way to show”. In 2017, I helped a young man doing his NYSC, on a resume revamp. The revamp did not particularly require muchas I mainly enhanced his resume based on my knowledge of him and his leadership experience. The key change I made though, was to not simply tell his employers that he was great but to show them he was great through his CV. This was easy for me to do because I was essentially writing from experiencefrom the experience of interacting with him. I was not saying he was hard working, I was telling them about a time he worked so hard that he transformed the outcomes of a project. At the end of the exercise, he said that reading his revamped resume, he had no idea how much he had done.

This is a common reaction for many young people who are not used to talking about themselves and their work in detail utilizing numbers and data to support their communication.

From writing your resume and cover letters, to interviewing and networking, your ability to clearly articulate your value as well as your ask to the employer is at the crux of jobfinding success.

The final tool that has kept many an unfulfilled employee in the wrong job is time. For the newly unemployed, this tool is often in greater abundance than for those in demanding fulltime employment but if not meticulously spent in funemployment you might end up feeling like you have less time than you had when employed full-time. Regardless of your employment status today, the time tool is a resource that is fundamentally available to all people at an equal measure of 24 hours per day. Because most people spend more time at work than any activity other than sleeping, we believe somehow that we need not carve additional time to find work. An employee at a Firm I worked in once told me that he interviewed for at least 2 jobs per year, even while he stayed put in the same role for 5 years. He did this to invest in his job finding skills, understand his worth in the job market, stay abreast with the work opportunities in the industry and allow himself the luxury of genuinely asking himself on a regular basis if he would rather do something else. Making time for finding your next job is not reserved for the unemployed, it is an activity for those who are looking to build long term career stability. For many, the COVID-19 crisis was a rude awakening of this fact, but with or without economic crises, investing the time in planning your future is the best service to self because it at the very least, will make you an employee who understands your industry better, can weigh your options more objectively and even refer others to relevant opportunities. At the very best, it makes you ever ready for your next best opportunity.

With gratitude, Viv

PS: Next edition, I will share more about some of the ways your individual profile can be an obstacle in the job market, even when your network, communication and time is right.

The ‘Business of Employment’ is a new column by contributor Vivian Ojo who is an avid and honest writer with several years of experience in the “education for employment” sector. The objective of the column is to educate young Nigerians on the employment market and the basic macroeconomic principles that underpin it, while also providing honest and helpful insights on how young Nigerians can find and create opportunities to make both money and impact. Vivian has consulted with some of the largest international development, educational and corporate organizations across the world and with several African Governments focusing on people and capability building. She has worked on business strategy and job placements with McKinsey and Company, MasterCard Foundation and African Leadership Academy. She is a board member of United World Colleges Nigeria and a member of Umsizi Fund’s peer learning network that convenes over 30 employment placement organizations from around the world including Harambee, Generation and Education for Employment. She has a longstanding passion for transforming the African education to employment landscape and has done work on this as part of her Masters in Public Policy from Oxford University and has been published on the topic in the Harvard Africa Policy Journal among other organizations. Follow @thewritewritingcoach on instagram and check out www.thewritewritingcoach.com for more questions.

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Cartoon

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By Toju Akpa An Illustrator and an animator with a passion for financial literacy and entrepreneurship.

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Nigeria’s female business owners are vital to the economy. We must support them Karen Adie SEPT 2020

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ub-Saharan Africa has the highest rate of female entrepreneurship globally with an estimated 21.8% of women owning businesses; in Nigeria, female entrepreneurs are an estimated 40% of the total population.

Most of these businesses are necessity-driven - started as a means to earn an income such as agriculture, textile, retail etc. Nigeria’s informal economy makes up 86.1% of its entire workforce, includes 41.5 million micro, small and medium enterprises (MSMEs) and accounts for approximately 65% of Gross Domestic Product (GDP). However, as a result of the pandemic and collapsing global oil prices, the Nigerian economy is projected to contract by 3.2% with a total of 9.2 million female workers being affected either by a reduction in income or rendered unemployed.

Female-led retail businesses in Nigeria face several challenges - gender discrimination, limited stock due to insufficient working capital, highly fragmented distribution systems, expensive middlemen and low profit margins, as well as limited access to credit facilities leading to a reduction in profit. These have been further exacerbated by a reduction in disposable income as a result of the lockdown and restriction of movement. To make matters worse, research shows that the pandemic has adversely affected women as so many operate in the service sectors.

As borders slowly open and movement creeps back to prepandemic levels, there is much work to be done to help Nigeria’s already fragile economy to not just recover but thrive. The millions of women at the helm of the informal economy know exactly what needs to be done to get the engine of the economy buzzing again, and there are a number of ways to support them to do this.

Better access to credit and stock management First, our female small business owners must be provided with greater economic power to grow their businesses through better access to credit. This will give them the economic resources to move beyond subsistence trade in order to actually grow their operations.

This requires training and upskilling on how to evolve the business from small stall to medium enterprise, with the ability to supply its customers with a range of goods.

Help with financial and digital literacy are two key ways to support small entrepreneurs to grow; and Nigeria has a range of innovative digital platforms that can help businesses manage their operations more efficiently. With limited resources, a mobile enabled solution that allows retailers to track their stock and take payment from customers solves a substantial pain point, not least the time it takes to physically go out and procure stock. A lot of these small businesses also lack space to hold stock and can lack the business know-how to efficiently manage stock levels.

With the help of technology, informal retail businesses can improve their processes, reduce stock waste and ultimately improve turnover.

Opening doors to global markets and mentorship It is also paramount that the ecommerce platforms being used by small retailers offer more than the best deals on merchandise from the comfort of their shops. Opportunities to link with domestic and global markets is essential to their continued growth, particularly with a non-existent budget for marketing. Mentorship programs also open doors for some of the most underserved business owners to be part of a network that connects them to business mentors to support their growth ambitions.

As the world slowly returns to ‘normal’ and we begin to think about how we can mitigate the economic damage of the pandemic, the informal retail sector and the women that underpin it can play a major part. The informal retail sector has so much untapped potential. Many of these women have achieved significant success with minimal support for so long. If we finally give them the support they need, we will not only be helping the entrepreneurs but also helping their families and communities which will ultimately benefit society as a whole.

Karen Adie is the Director of Merchant Services at TradeDepot. She started off her career at Goldman Sachs as a Technology Analyst and has worked in various capacities at several tech startups in Nigeria. She has a Bachelor's degree in Computer Science from the University of Nottingham and a Master’s degree in Management from Cranfield University, both in the UK.

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Nigerians and the moneyspraying culture Mercy Ayodele SEPT 2020

Image Courtesy: Classique Imagery on owambecommunity.org

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aving grown up in Nigeria, I believe the Nigerian culture that has an unmistaken flamboyance regardless of the tribe. Nigerians tend to be extravagant, dramatic and love to have a good time. Nigerians have been named one of the happiest people in the world, ranking 6th happiest and 95th happiest in Africa and the world respectively, according to the World Happiness Report (WHR). Not that we are without our many challenges but we always find a way to make ourselves happy just as Fela Kuti put it, Nigerians have a culture of suffering and smiling.

This reality is obvious at our ceremonies and functions. In Nigeria, we don’t play with our occasions especially weddings popularly called “owanbe” in Yoruba language. If you have ever been to a Nigerian wedding, you will attest to the fact that we have traditions that if absent, it will feel like something is missing.

Some of these traditions are wearing identical colours and fabrics at an event to identify ourselves called “Aso ebi” in Yoruba language. Having the aso ebi sometimes means you get a special seat and you will most likely not miss the partyjollof rice, which we all love. I attended a wedding once and the food finished before it got to me, I remember going home feeling sad even though my mum had prepared the same jollof rice at home. My mum is a great cook but then, the rice does not have the party jollof rice smell.

If you have been to a Nigerian wedding, you know the live band or DJ better be someone supplying good music because Nigerians love to dance. If you are bold enough to get to the dance floor, you know that’s the fun part, after the food of course. Don’t be surprised when you see you see a group of people dancing to what seems to be choreographed steps, it is either they have practiced from home or it is a trending dance step.

So, the dancing begins and you start seeing money flying, freshly minted notes of five hundred naira, one thousand naira and some denominations of dollars and pounds being pressed on the heads of the bride and groom.

This is when the dancing gets intense, people dancing v i g o r o u s l y t r y i n g t o o u t s h i n e e a c h o t h e r, t h e “hypers” (people who can’t dance but will hype those dancing to dance more) shouting the names of those dancing well. Also, there are also the money pickers, picking the crisp notes of money from the floor and putting them inside multi-coloured polythene bags.

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I hate to spoil the fun, if you have ever been in any of the categories described above, guess what, you broke the law and should be in jail either as the culprit or the accomplice.

Okay maybe I’m exaggerating a little bit, but spraying is punishable by law. Some people call it a “money rain,” and others simply call it “throwing money away.”

According to Section 21(3) of the CBN Bill, it states, "For the avoidance of doubt, spraying of, dancing or marching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under Sub-section (1) of this section." If convicted the person risked six months in jail or a fine of N50, 000.

But guess what, spraying does not only happen in Nigerians.

In Poland, the male guests at the wedding form a queue and take turns to dance with the bride while the female guest dances with the groom during which money is pinned on the bride’s wedding gown or put it directly in a purse. In Ukraine, the bride's veil is detached and given to the maid of honour, then an apron is placed on the bride which is employed to receive money sprayed during the dance.

Some other countries that practice money spraying are Cuba, Mexico and the Philippines.

Even though this is one of the fun parts in a wedding or function for us as Nigerians, we must remember that there are strict rules against throwing money away or abusing the Naira. It could be legal in other parts of the world, but it is not legal in Nigeria.

Recently, a heated debate was created by Nigerians on social media as a viral video showing the President’s daughter, Hanan Buhari dancing with her bridegroom being sprayed with money at her wedding as she danced happily.

Nigerians took to social media to make various comments regarding this event, stressing why the law was being violated at the presidential villa though the Central Bank of Nigeria (CBN) has been campaigning against the abuse of the Naira, with penalties for anyone found culpable of this offense.

No one would want to be in jail or be paying a fine on a happy day. So, while we keep up the tradition of wearing our aso ebi, the dance and the party jollof, we must also remember the law and respect the Naira.

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Book Review A Book for Corporate Nigeria: A Review of Eriye Onagoruwa’s Dear Alaere Titilade Oyemade SEPT 2020

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ike it or not, office politics is a reality. No matter the organisation you work, office drama, gossip, politics and a toxic work environment can be overwhelming.

While you may not know where to get guidance on how to tackle them, Dear Alaere by Eriye Onagoruwa creatively takes a look at one particular aspect of life and living that not many authors write about – work-life balance.

Eriye Onagoruwa’s 2020 debut novel is a hilarious work of fiction about career, professional life, marriage and the unexpected challenges of life in one of Nigeria’s populous cities, Lagos. The 225-page novel with a beautiful cover captures the reality of many corporate climes. The reader will see the story of the Nigerian woman in the workplace, the hustle and bustle of the city of Lagos, and the big almostoverwhelming presence of patriarchy even in professional environments. Dear Alaere is written in an entertaining yet relatable and didactic way that can teach you a lot about the typical Corporate Nigeria.

Through Alaere’s eyes, you would see the unending traffic, the road rage and an impressive glimpse into Lagos living.

Most of the characters in the book were believable although some seem somewhat exaggerated yet humorous. With drops of Nigerian Pidgin English and Yoruba, its intense episodic plot and epistolary style, Dear Alaere has the likelihood of holding the interest of anyone especially because of the possibility of seeing one’s reality in it.

This novel opens with a diary entry of Alaere, who doubles as the narrator. She is a working-class Ijaw lady married to a Yoruba man, ‘Laja. The reader meets her as a legal and compliance officer at Neuterone where she encounters office politics and a lot of drama. She later gets a new job at a multinational company, Criole, but it does not take long for her to see that Criole is not different from her previous place of work.

At home, she begins to have problems when she and her husband experience difficulties having children and their situation is aggravated by her mother-in-law who tries to marry a 15-year-old virgin for ‘Laja, her husband. As she navigates a balance between her work and marriage, Alaere finds peace in her diary entries.

In Dear Alaere, you will also encounter the issues of domestic violence, entitlement mentality, the longing of to have children at all odds, male chauvinism, nepotism, polygamy, misconception of the African culture, among many others. The novel indeed packs a punch.

Title of the Book: Dear Alaere Publisher: Paperworth Books Year of Publication: 2020 Number of pages: 225 Pages Category: Fiction

With Eriye Onagoruwa’s ability to bring her characters alive so vividly and at the same time pass numerous messages, the most poignant lesson from this book—for me—is the encouragement not to give up despite the obstacles and struggles of life. Dear Alaere can best be described in 3 E’s – easy to read, emotional and entertaining. I will recommend this book to everyone who wants to work, is working or has ever worked in Corporate Nigeria.

Titilade Oyemade is a business execute in a leading organisation and holds a degree in Russian Language. She’s the convener of the Hangoutwithtee Ladies Event and the publisher of Hangoutwithtee magazine. She spends her weekends attending women conferences, events and book readings. She loves to have fun and to help other women have the same in their lives.

Instagram - @tiipree | Email – titi.oyemade@gmail.com

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Saturday, 19 September 2020

WEEKENDER

3 Questions to Ask Your Child’s School Before Resumption

Titi Adewusi SEPT 2020

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t's official – the Government has announced that schools can reopen. As a parent, I received this news with mixed feelings. The part of me longing for normalcy is excited while my analytical side is worried that schools might not be safe enough for my kids to go back. And I have reasons to be worried. My kids have not perfected the act of social distancing. For example, when they see a favorite Aunty they want to hug them and they don’t keep their masks on for up to 30mins. How does the school intend to keep my child safe post Covid if as a parent I am struggling to keep them safe.

I honestly think you need to get satisfactory answers to the following three (3) questions from your child’s school before you decide to send your kids back to school.

Question 1: What safety protocols have they put in place?

We know how the school has implemented the Government’s general guidelines as it relates to social distancing, wearing masks, washing hands and disinfecting the school, etc. On a practical level, how does the school intend to make this happen? From school bus to school drop off/picks, classroom arrangement, break times, extracurricular, school lunch, etc. How do they realistically intend to keep the kids masks on for more than 1 hour (especially if your kids are under 12 years old) and achieve social distancing from 8am to 2pm? How do they intend to ensure children don’t swap their face masks with their friends?

Question 2: How do they intend to assess and bridge the learning gaps?

Let’s be honest, we are not sure what our children really learnt in the last few months. Not all children were able to keep up with/learn effectively with online/distance learning.

Some schools were not able to complete the normal curriculum or do all the subjects. Where exactly is the new term starting from?

And where there are obvious learning gaps, what is the clear plan to address it before rushing into a new term/academic year?

Question 3: What are their plans to minimize disruptions should they be forced to close again?

Looking at other countries that reopened schools earlier, several of them had to close schools again. What plans are the school putting in place to enable them quickly react to the strong possibility while minimizing disruption to school? What if there is a Covid outbreak in the school?

What are the plans to keep the children safe and minimize disruptions to school term?

There are a number of reopening models available to schools - A normal school day; coming to class in either a morning or afternoon shift; going to school on alternate days; a 100 per cent distance-learning; and a mix of inperson and online classes.

I strongly believe it is not a case of one size fits all. Each school needs to have extensive deliberations with their parents to arrive at the model that would work best for them while ensuring the safety of the children.

Titi Adewusi is Co-Founder, 9ijakidsS; an EdTech company - a fun learning company. that has developed over 250 educational fun interactive games to help children ages 3-13 years understand and retain knowledge as well as excel in school. She is mother to two boys 9 and 12 years and is always looking for fun places to take her children. She believes children learn best through play. mail: titi@9ijakids.com | social: @titilopeadewusi | linkedin: titilopeadewusi

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Saturday, 19 September 2020

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Knowing Our losses, Counting Our Blessings Oge Funlola Modie SEPT 2020

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ife always throws curveballs, the sooner we know this, the easier it becomes to handle life and its events.

Encounters either make or break us. It always comes down to choices. 2020 has been a gigantic curve ball to most of us, what choices have we made?

Today, I ask you to make two; know your losses but also count your blessings.

Know your losses: It is important to take stock of what losses you have suffered in these times. This is because it allows you to mourn your losses, learn from them and mitigate against whatever risks may occur in future. Is this a negative approach? No, I see it as a positive way of learning. Key condition though is not letting your losses overwhelm you in such a way you cannot move forward.

Knowing your losses opens you to managing life experiences through a positive outlook. In these times, we have lost people, money, houses, relationships etc, name it, someone has lost it. As much as grieving your losses is important, what I am pointing out here is an activity of also taking stock and penciling down lessons learned, moving ahead by planning for the future and understanding that you remain a victor and not a victim.

You may wonder – what do you learn from losing a loved one to COVID 19? In grieving both parents, who are gone (more recently my mum), I have learned many things; to love extravagantly, forgive quickly, listen adeptly and be vulnerable. In taking stock, you realize that life is precious and even more so, with those you love.

Staying indoors for the three months of lockdown, though business suffered a great deal, I have discovered that yes, I am an introvert but not as extreme as I have always believed for all of my four decades and above. I really do not want to be alone and lost in my thoughts all the time.

Believe me when I say that our losses help our process of living and creates opportunities for life’s precious moments.

Knowing your losses and taking stock is also a process for healing.

Times we have to face our failures or face separation, being honest in our assessment of the situation allows healing to take place. Sometimes we need help in taking stock, find a friend, see a counselor or a psychologist, anyone that can make you see objectively and without bias is key to a successful process. One key thing to know is that failing is a crucial part of life not the end of it. Learn to fail forwards, take stock, learn, re-learn and keep moving ahead.

Counting your blessings “Count your blessings, name them one by one and it will surprise you what God has done”- a verse from the hymn ‘Count Your Blessing’ by Johnson Oatman Jr speaks of when you do feel overwhelmed, the process of counting your blessings brings a relief and a radical mind shift.

Counting your blessings is a shield to a feeling of overwhelming loss. Being grateful for the little things and the big things can become a buffer when you face loss.

Gratitude is a feeling of thankfulness, appreciation and considered a warm feel good emotion. Being grateful is considered a good health option and prescribed by many psychologists.

As we take stock of our losses, we must also, always count our blessings. Life happens but while it does, learn to live it up! One way of staying sane is remembering daily what blessings you have encountered, blessings you are endowed with and most especially blessings you are expecting.

Being grateful helps you keep faith, keeps your eye on the ball and helps you maintain a healthy balance to life.

Do you keep a gratitude journal? Do you after your day reflect on the good things you achieved or blessings you encountered? Do you take precious moments out of your day to say thank you to those who make living comfortable for you? To thank those you love you unconditionally? Are you thankful to the Creator for the beautiful Universe we know and see? Do you stop and enjoy the day? Just because?

Count your blessings, name them one by one.

Oge is a published author, writer and speaker. She is the Editor and writer of GetFearlessly AunthenticTM Newsletter, a personal leadership newsletter that chronicles her life as a professional. She is involved in causes for women, young people and the vulnerable. She loves to read comics, watch comedy flicks, listen to music and play golf. Shares her love threefold- Love for God, Love for People, Love for Country. ogemodie.com

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Cover Story

Understanding Food for Photography Anjola Awosika SEPT 2020

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irst off, I have to say that the feedback I received from my first write up was mind-blowing. I have decided to continue with this full time and I’m super excited to share more content with you. For everything on earth, there is a process and every process comes with a significant level of understanding. Food photography is very new in Nigeria and I’m so excited to see more Nigerians embrace it.

Today’s topic is very thought-provoking and I would like you to pay more attention to it. Every tribe in this world has dishes that appeal to them and they’ve cherished for thousands of years. For instance, Jollof Rice is an African ident that has garnered a wide range of acceptance within Africans at home and in the diaspora. Even the white men are curious to have a taste of Jollof Rice. When you google Jollof Rice, several photos tell the Jollof Rice story. A story in the sense that it is cooked, styled, and photographed differently for numerous purposes by different food bloggers and chefs that come from various regions in Africa.

There’s always a message being passed whether it’s through a bright and airy theme or dark and moody. In the end, it's all about conveying a simple message that speaks to the heart of the diner through eye-catching photography.

that you can learn and it is free.

Food styling is easy when you understand food. For example, Jollof Rice (depending on how it is cooked) has colors that range from reddish-orange to tint yellow.

Looking through color chats would broaden your horizon on how to pair colors of food with the right props and cutleries. Note that neutral colored props would always highlight the dish then garnish with the suitable garnish combo for an appetizing looking plate. Food styling is never a one-time discovery concept; it is a continuous skill that involves a lot of trial and error. This is me right now so don’t be overwhelmed.

Lastly, watch food shows on YouTube and Cable TV. They give you an exciting insight into how a dish is cooked and plated. Most times it’s always for a price so the competing chefs bring on their A-game. You can tap into their knowledge and incorporate it for your benefits.

I have a lot of chef friends and I spend time in their kitchen whenever I am opportune. All the time, I’m staring at their hands and analyzing the situation in my head. If I get lost, I ask questions. I discovered that spending quality time with chefs helped my understanding of food. Food didn’t just become food. It became a series of activity if not well-paid attention to would be damaged. There are no two ways about it. It is either you know it or you don’t. Sadly, this is the hard truth. Interacting with professional chefs would help you avoid certain mistakes that could disrupt your food photo. Some are loaded with exceptional food styling skills

Anjola Awosika and I love food. My love for food birth the idea to photograph it. I am self-taught, a graduate of YouTube. I started shooting food professionally in 2018. Since then, I have shot hundreds of dishes. Currently, I work as the official photographer for Livvy’s Twist Cake Company. Also, I have worked with notable chefs in Nigeria like Chef Fregz including SMEs in the food industry. Storytelling and creative innovation are my forte. I am passionate about the food industry in Africa and I want to be among the game changers. I live in Lagos, Nigeria.

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Saturday, 19 September 2020

WEEKENDER

Art of the Week

Evans Mbugua, Rise, 2018, 100x100cm, Oil on plexiglass and photo paper Image Courtesy of Out of Africa Gallery and ART X Lagos - West Africa’s Premier International Art Fair. Learn more at www.artxlagos.com

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Saturday, 19 September 2020

WEEKENDER

Boomerang

Help! I hate my job.

Vumile Msweli SEPT 2020

“Vumi Help I hate my job”

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have heard this phase more times then I care to count from my clients and have also wanted to scream it from a roof top. The reality is many of us spend more of our time at work than anywhere else. On average a working individual will spend 50 years at work that is 600 months equating to 13 500 weeks which is 114 750 days all culminating in a total of 6 885 000 minutes. That is a gargantuan amount of time spent at work. So it is unsurprising that when work evokes absolute abhorrence in you it is taxing emotionally, psychologically and physically.

How does one begin to deal with this? The first step is to recall why you joined the organisation. Many people join an organisation for its brand and the chance to be associated with its credibility, the grow prospects within the company as well as the opportunity to acquire a certain skillset. In auditing your reason why you took the job you can answer for yourself if you have acquired the skill, position you initially sought. If you have accomplished your desired outcomes what do you want your next challenge to be and where can you find it. If not, how do you intend to fulfil your initial goals whilst still in the unhappy environment you may find yourself in.

I have long held the belief that what you do not master, masters you. In every situation there is a lesson to be learnt if you do not learn the lesson it will reappear again in your life for you to learn it. No place quite like work offers the opportunity to learn leadership of both ourselves as well as others. I am of the opinion that what we focus on expands so our perspective and focus is critical to how we feel. The reality is it’s important to shift our perspective. Marianne Williamson aptly stated “A miracle is a shift in perception”.

Your perception can shift in how you view any situation from negative to positive. Your frustration with mundane repetitive work can be shifted to how can you automate or make the entire process more efficient to free your time for more strategic work. Your perception can shift seeing a negative boss to a first hand, front row leadership class as to how to not lead.

I know this ask to shift your perception is no easy task, but what I ask of you is what I had to ask of myself. I recall having a boss whose unrealistic demands; superhuman expectations; haphazard decision making patterns would leave me reeling, anxious and on a constant emotional rollercoaster flirting between sanity and fear. I picked up the habit of keeping a journal writing all the things she taught me not to be as a leader. I learnt how to give clear instructions, keep my team accountable by getting their buy in, how to create an empowering environment be delegating decision making, request feedback so I can become a better leader and how generate an atmosphere that nurtures dynamic opposing views to drive innovation. By teaching me how not to lead she helped me sharpen my skills as a leader.

This being said sometimes our detestation for our jobs is caused by something which is much deeper, a fundamental differing in values makes reconciliation between self and organisation near impossible. When this is the case one suffers a great deal of inner turmoil and I believe the most amicable act is to part ways with the company. Either than this I hope you are able to meet each circumstance with an open mind to learn and shift your perception. So when the time comes, when you say “Vumi I love my job!” you are all the better for it.

Vumile Msweli is a multi-award winning career coach, international speaker and the Chief Executive officer for Hesed Consulting. Hesed is a consulting firm specializing in; career coaching; leadership acceleration; facilitation and training with presence in South Africa; Rwanda; Botswana and Nigeria. She has previously worked for reputable multi-national institutions such as Barclays, Investec, Nedbank, First National Bank and Vodafone and led global teams in Africa (Nigeria; Kenya; Democratic Republic of Congo; Zambia; Lesotho; Ghana; Tanzania; Mozambique and South Africa); and Europe (Scotland; Isle of Man and England). Vumile is an international speaker having spoken in conferences; expos; workshops around the globe on topics such as leadership; women empowerment; finance matters and conducting business in Africa. She is the host of Vumi and Veuve host Women in Commerce as well as has her own regular radio slot in Botswana’s Duma FM and South Africa’s Kaya FM. instagram: @vumimsweli | facebook: Vumile Msweli | twitter: @vumilemsweli

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Saturday, 19 September 2020

WEEKENDER

Unconscious bias inhibiting growth of female entrepreneurs in Nigeria Weyinmi Eribo SEPT 2020

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he entrepreneurial tenacity of Nigerian women entrepreneurs is exceptional, and research from the World Bank has demonstrated the exponential effect their success has on the welfare of their immediate families, as well as on the wider community. From this we assume that given an enabling business environment, the success of female owned businesses is assured.

Nigerian ranks high among the rate of entrepreneurship in the world, this is not farfetched given that low-income countries who lack human capital and the necessary infrastructure required to generate quality jobs will alternatively engage in hand-to-mouth businesses and entrepreneurship ventures. Approximately 40% of Nigerian women are entrepreneurs or have a side hustle. However, it is commonplace for most of these women to be necessity driven as opposed to the male counterparts who are mostly opportunity driven. This further drives the case that most male entrepreneurs are high value entrepreneurs implying that they have higher incomes and innovative products and services and women continue to remain in the low value range.

It is now a general perception that only a tiny percentage of women receive venture capital funding. Why then is this so when several researches have shown that women are great for business and have the tendency to make back more on every dollar. Yet women continue to struggle with accessing finance, growing, or scaling their businesses and even sustaining it. The perception of female entrepreneurs, by the female entrepreneurs themselves and the entrepreneurial ecosystem may come into play. Very often traits associated with successful entrepreneurs are generally traits associated with men, the number of hours spent looking after kids and raising a home will most likely not make it to the list. This perception has and remains a myth, but the sad implication is that anyone who does not fall into this predefined statistic may have more business challenges especially in accessing growth capital.

Society’s single-story definition of a woman is that she is second place and would normally come after the man.

Unfortunately, women have believed this idea for so long and continue to buy into this definition which unconsciously controls the way we think about everything

including the way we run our business and the level to which we scale our businesses to. We may not realize it, but it continues to control even the unconscious bias of investors. It is only normal to invest in things we understand.

It then becomes an intricate cycle when female focused businesses require funding and those controlling the funds are men. Investing in any company is a huge decision, and so when VC partners are considering investing in any company, it is important for them to connect with not just the business, but with the founder as well as the opportunity. A number of female-led businesses may have amazing metrics and incredible growth rate potentials, great margin structures but remain unfunded because funders are just not as passionate about the businesses.

The solution is that female-led equity funds can champion this change by creating a new culture which would positively catalyze investing or allocating capital across women led businesses in Africa. Sadly, a lot of female led businesses are not positioned or structured enough to absorb the kind of funds that these funders are willing to invest, and so beyond the existence of female-led equity funders, it then becomes important for female founders to support other female founders and continue to work together to debunk the myths of the characteristics of a heroic entrepreneur. The VC world is male dominated and this inevitably creates networks that can get these male funders into meetings that they need to be in so that they may have better opportunities to raise finance. It is either he knows these VCs personally or knows one person who knows another person but unfortunately these built-in networks are not as readily available for women. It becomes the role of the female-led VCs to intentionally begin to create easily accessible networks for female founders as well as friendlier investment criteria for growth equity across the various sectors, the minimum investment size cap and opportunities for follow on investment post a smaller tranche of capital investments.

As we begin to begin to create this new culture, the style of entrepreneurship engaged in by Nigerian women would begin to switch to high value opportunity ventures. Women’s unique value and potential as entrepreneurs and business owners remains untapped, it is time to stop sitting on this gold mine and begin to dig up.

Weyinmi Eribo is a development expert with special focus on gender, financial inclusion and enterprise development. She has 8+ years working experience across different sectors – oil & gas, bilateral trade, not for profit management, leadership and extractive industries. She is the founder of Wevvo Nigeria, a resource and community based platform that supports single female breadwinners.

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Saturday, 19 September 2020

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21

Antibiotic abuse… a ticking public health time bomb Dr Monisola Adanijo SEPT 2020

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very day in Nigeria, millions of people are taking various antibiotics, popularly known as “capsule” for a variety of illnesses ranging from fever to headache, diarrhoea, body pain, common cold, malaria, birth control, constipation to name a few. In fact there is a “capsule” for every disease one can imagine- red and black ones, yellow and red ones, plain white ones….

In the vast majority of cases, these antibiotics are bought over the counter without prescriptions at chemist shops or even sold by medicine hawkers in the market, who display their wares in open trays, with no obvious labels and the doses of these antibiotics are left to the imagination of the sellers and users. There are even cases where patients feel the doctors who insist on clinical and laboratory evidence before prescribing antibiotics (obviously doing the right thing) are perceived by their patients as “not knowing what they are doing “ or being “difficult” .

Another problem with antibiotic use is when patients don’t finish their prescribed dosages, and stop taking their drugs earlier than prescribed because the symptoms have improved. Most of the time, the bacteria are not quite dead, and may cause lingering subclinical damage, only to cause complications and more severe infections in future.

Sharing of prescribed antibiotics is another major problem we face. Why would you give someone drugs that where prescribed for a particular problem to someone else without knowing what exactly is the cause of their own problem? No, all coughs are not caused by the same organism (the cause may even be viral)!!

What are antibiotics?

Antibiotics are drugs formulated to treat BACTERIAL INFECTIONS. They are completely useless against viral infections like the common cold and fungal infections like some skin problems. Antibiotics designed to treat a specific class of bacteria will not be effective against other classes of bacteria.

When should antibiotics be prescribed?

1. When there is an evidence of bacterial infection: fever, features suggestive of infection in the lab tests.

2. They can be prescribed if there are no lab tests by experienced doctors with the knowledge of infection patterns in the community.

What are the dangers of using antibiotics when not needed?

vomiting, nausea, deafness, kidney damage, brain problems, swelling of the throat, making it difficult to breathe (which may be life threatening).

Antibiotic resistance: Antibiotic resistance is rising to dangerously high levels in all parts of the world. A growing list of infections like pneumonia, tuberculosis, blood poisoning, gonorrhoea, and foodborne diseases – are becoming harder, and sometimes impossible, to treat as antibiotics become less effective. Imagine a world where we can no longer treat pneumonia and other infectious diseases… The death toll will be huge!!!! Currently, at least 700,000 people die each year due to drug-resistant diseases, including 230,000 people who die from multidrug-resistant tuberculosis. More and more common diseases, including respiratory tract infections, sexually transmitted infections and urinary tract infections, are untreatable, due to antibiotic resistance. The UN Ad hoc Interagency Coordinating Group on Antimicrobial Resistance warns that if no action is taken, drug-resistant diseases could cause 10 million deaths each year by 2050.

What can we do to prevent this catastrophe?

As individuals: Only use antibiotics when prescribed by a certified health professional.

Never demand antibiotics if your health worker says you don’t need them.

Always follow your health worker’s advice when using antibiotics.

Never share or use leftover antibiotics.

Health professionals: Only prescribe antibiotics when they are needed, according to current guidelines.

Talk to patients about how to take antibiotics correctly and the dangers of misuse.

Talk to patients about preventing infections (for example, vaccination, hand washing, safer sex, and covering nose and mouth when sneezing).

Public health and safety is a collective responsibility. The next time you are using antibiotics, ask yourself: “Do I really need this?” and please always remember to finish the dose prescribed by the doctor, even if symptoms clear up after a few days.

Exposure to side effects. such as: skin rash, diarrhoea,

Cardiologist and the Medical Director at Naveen Healthcare. With experience spanning over 20 years, she built her pathway in medicine and cardiology working in reputable medical centres such as Mecure Healthcare Limited, Barnes Hospital, Lagos University Teaching Hospital, University College Hospital, Ibadan, Chevron Hospital, Lagos to mention but a few. Her passion for preventive cardiology led her to convene the Naveen Healthcare 10,000 Hearts Project, in order to help individuals detect, protect and correct cardiovascular diseases. Skilled in cardiovascular diagnostic procedures and treatment, a fellow of the National Postgraduate Medical College of Nigeria, a member of Nigerian Cardiac Society, American College of Physicians, Hypertension society of Nigeria and an international associate of the American College of Cardiology. She launched the first TeleElectrocardiogram project in Nigeria and West Africa and does her part in contributing to good health and wellbeing, a Sustainable Development Goal (SDG3) of the United Nations. email: moni.adanijo@naveenhealthcare.com web: www.naveenhealthcare.com social: @moni_adanijo Linkedin: Monisola Adanijo

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Pride and Prejudice …in Personal Finance (Relationships / Marriage) Toyosi Lawal SEPT 2020

I absolutely love watching period dramas. I recently rewatched one of my favourites; Jane Austen’s Pride and Prejudice for the umpteenth time. Before this last time, I’ll admit that I usually only watched Pride and Prejudice for the romantic inkling and now this time I noticed the undernotes of pragmatism in the movie when it came to marrying for comfort, fortune and wealth.

In the plot, Mrs Bennet is eager for her daughters to marry well so that they would not be destitute upon their father’s death, because his wealth could only be passed on to a male heir. Early on in one movie scene, Lizzie and Jane (the older sisters) are seen gushing under their bed cover about Jane’s suitor (Mr Bingley) who they described as ‘Sensible, good humoured…conveniently rich’. I’ll call it triple luck to find all these in a person of interest, but what if you don’t?

Here’s where your pride should set in, and when you should think of and execute a personal finance plan. In last week’s article, I spoke about the softer topics to discuss with your partner before making a financial plan, which would help you both as individuals determine if you are aligned in terms of lifestyle expectations. Once you’ve agreed on this, it’s time to put numbers to your lifestyle needs and goals on an annual basis. Here’s how to go about this…

Make a list of all your needs Do you know where your money goes on a monthly and annual basis? Itemising your needs will help you understand your spending patterns and prioritise which needs are more important to your lifestyle goals than others.

It will also help you have a clear view of how to allocate your money to the needs when you begin to budget for them in the next step.

Estimate how much it will cost you to fund the needs in the start year

Starting at the beginning of a new month, track how much you spend on each of your needs for the month. Separately, also make a list of your annual expenses including rent and service charge. By separating your monthly and annual costs, you’re able to dimension how best to optimise your income cash-flow to meet your needs.

Apply your macro-economic assumptions to a forecast for future years Next, apply the current inflation rate as a growth rate to grow your annual costs over the next couple of years. By doing this, you can assess your current earning power and see what point you will need to ask for a promotion, salary increase or simply need a career change.

Apply your contribution ratios Remember in the last article when I said you should have an honest conversation with your partner about how you’ll each contribute to your joint life-style goals? This is where that ratio will be applied. For example if one of you chooses to take on 100% of the cost, then the other will bear 0%. It need not be; it could be 75%:25% or however you choose.

Even if there’s no prejudice in splitting the contribution, a good knowledge of your joint costs will help you both plan towards a stable future. Now back to the movie, the sharptongued witty Lizzie (protagonist of the plot) is my favourite character. It wouldn’t be a fairy tale if she didn’t end up with Mr Darcy, who’s twice as wealthy as Mr Bingley. Listen, I never said a woman shouldn’t find both romance and finance in partnership, but she’s got to have her finance in check and also be independent. As a hopeless romantic, I love the affectionate show of love by Mr Darcy to Lizzie, at the end of the movie. It’s currently showing on Netflix if you’d like to watch it. You’re welcome!

Toyosi is a Strategy & Corporate Development Professional with over 8 years of experience in the Financial Services industry. She has spent the last 3 years working at FBNQuest Asset Management. She is passionate about sharing personal finance advice to help others build strong wealth habits.

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KEY SUCCESS FACTORS FOR ENTREPRENEURIAL SUCCESS Glory Enyinnaya SEPT 2020

H

aving identified factors that lead to business failure, it is only logical to identify factors that enhance business success.

Integrity: Every business thrives on reputation and goodwill of its customers. Good reputation is built when the business fulfills its promises to customers. In that connection, efforts must be made to provide services or supply goods without fail. The business owner must guard against running out of stock, or interrupting services to customers for whatever reason. When a business says it opens by 9.am and closes by 5p.m, that time schedule must be maintained. This practice builds confidence, reputation and goodwill for the business.

Strategic Planning: We discussed the need for strategic planning to avoid business failure. Success will surely result if answers to all the questions posed in that section are implemented to the letter. They form the basis of creating strategic policies and procedures. Every business must have policies concerning credit customers, product lines, pricing, at regular advertising and sales promotion, quantity discounts etc.

Monitoring and Control: Review the results of operations intervals and watch the economic trends, whether positive or negative. This requires installation of a reliable accounting information system to enable the business owner to have control of his business and judge its financial health. Any negative trend, especially in cash flow must be addressed immediately before matters get worse.

Ability to Learn and Collaborate: Recognize the fact that you are not an expert in all aspects of business management.

Consequently, from time to time, the business manager will rely on the experience and advice of lawyers, accountants, bankers, etc. In particular a small business owner should establish a solid relationship with a bank or lending institution. This is achieved by operating a business bank account domiciled in the bank on a regular basis and in a disciplined manner. Effort should be made to build trust with the bank by not issuing cheques when the account is not funded and respecting credit limits and repayment schedule whenever a credit facility is granted.

Mentorship: Every business has its secrets of success and you need to know these secrets from the start of your business. As you find answers to the questions posed above, you will be familiarizing yourself with what it takes to be a successful business owner. Benchmark 10 (ten) well known successful persons in your chosen business sector. Study what they did to succeed. If you are prepared to follow their footsteps, by working hard, by being dedicated and honest, your chances of success will be assured.

Healthy work-life balance: Finally, the business owner must do everything possible to maintain good health by not indulging in reckless lifestyles because health is wealth. The success of any small business rests on the constant presence and attention of the business owner so it is critical to monitor one’s health closely. Stress is a primary problem and must be kept in check. In this connection, pro-active action is necessary. Visiting a qualified medical doctor on regular intervals should be the rule rather than an exception.

Glory is an international business consultant who has advised over 200 entrepreneurs for clients such as the Centre for Global Enterprise (New York), the Entrepreneur Scan (Netherlands) and the International Business Accelerator (United States). She helps her clients launch new businesses, write business plans and access capital for expansion. You can download her free Entrepreneurship Roadmap and learn more at www.gloryenyinnaya.com.

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Saturday, 19 September 2020

A NIGHT OF UNITY, CULTURE & AFRICAN FUSION WITH BAKARE MUBARAK; THE TALLEST MODEL IN SUB-SAHARAN AFRICA SEPT 2020

T

he Revitalization of African culture is the theme of Bakare Mubarak’s mission. He is a cultural ambassador and the tallest model in Sub-saharan Africa.

When he isn’t making connections or thinking about ideas, he hosts and attends events to further his mission. Recently, he hosted an exclusive “post lockdown” dinner for a few guests. All COVID-compliant protocols were upheld at the exclusive "Post lockdown" dinner for few guests at a quintessential Indigenous Coffee house in Lagos, Nigeria.

The mixer, proudly supported by the prestigious Africa Fashion Week London/Nigeria- was hosted by Mubarak to encourage & further strengthen international friendship, cooperation, and development. It is part of the campaign to kick against colorism and racism and an opportunity to unwind from the lengthy lockdown. The event promoted the African narrative and a display of our rich culture through fashion. These are amongst the core values for Mubarak.

Hence, He was commissioned by the African Fashion week London, to champion a project that showcased Kwara state’s local fabric, Aso Ofi, at the sustainable fashion week in New York through a fashion-film documentary.

(A collaboration between the organization and Her Excellency, the incumbent Kwara State governor's wife, Olufolake Abdulrasaq, to showcase the state’s local fabric, Aso Ofi/ Aso Oke.) At the mixer, Mubarak previewed the fashion film documentary to the special guests. In a part of his speech conveying this information, he said;

"One of our focal points at Africa Fashion Week has been how to shed light on Africa's indigenous textiles. As we now need to pinpoint a brief reference on the etymology of these materials in order not to vilify its essence. I will therefore love to show what we have dramatized as the headlines of this project we proudly tagged “Kwara state's Aso Ofi."

There were a range of other activities, which included; tasting African; food and snacks, drinks, live brewing, and tasting African coffee.

- Exhibition of indigenous African hats, with matching nosemasks that were designed with Aso-Oke - Display of handcrafted African inspired accessories, and more.

Some of the special guests who were delighted to attend the first-ever edition of "Bakare Mubarak's exclusive mixer" showed their enthusiasm for our culture.

Attendance included; diplomats from the USA Consulate, British high commission, and the French Consulate.

Other attendees include; Salaudeen Olatoye, a talented pencil artist, Laurence Bauldry Shelukindo (tourism hospitality consultant); Ololade Ibrahim, an International Model; Lehle Balde, Editor BusinessDay Weekender, Mr. Ademola Ogunsesan (Journalist Business Day), the Project Manager of Lekki Conservation Centre, and the MD Maishayi coffee; Mrs Demi Samande (CEO Majeur Chesterfield); Mrs Folasande Oweseje, Tobi Musa (African Fashion Week London representative), Adesuwa Ighile, Lawyer

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Sports

By Anthony Nlebem

Here are the Top 10 Highest Earning Footballers in the world

A

ccording to Forbes ranking of world’s highest-paid soccer players, Barcelona star, Lionel Messi and Juventus goal poacher, Cristiano Ronaldo, are two of football’s biggest stars in the world and their success comes with some lucrative contracts and endorsement.

Messi's recent decision to stay with Barcelona earned him to edge out Juventus star Ronaldo and claim No. 1 with $126 million in total earnings. Messi brought in $34 million in endorsements to go with his $92 million salary. After agreeing to play out the final year of his contract, the 33-yearold can search for a new club in 2021 and possibly collect an even higher salary.

Ronaldo comes in at No. 2 with $117 million and the big surprise on the list is Paris Saint-Germain striker, Kylian Mbappe, who lands fourth place with $48 million. Mbappe is the rising star at PSG club and the French national team, amassing 103 goals in all competitions since turning professional five years ago. At age 19, Mbappe became the youngest player to score a World Cup goal after legend Pele, who did it in 1958 at age 17, helping the French team win its second title in history. The two-time top goal scorer in France’s Ligue 1 already has 12 more career goals than Messi had at age 21 and 76 more than Ronaldo.

The 21-year-old is topped on the list once again this year by teammate Neymar, No. 3, with $96 million. The top 10 players in the world are expected to pull in $570 million in salary, bonus and endorsements this upcoming season, barring no further pandemic pauses that led to 30-70% pay cuts across European leagues. The combined haul is up 11% from the 2019-20 season.

Messi, Barcelona Total Earnings: $126 million Salary: $92 million

Cristiano Ronaldo, Juventus Total Earnings: $117 million Salary: $70 million

Endorsements: $34 million

Endorsements: $47 million

FC Barcelona endured 105 years to win 64 trophies before Messi arrived in 2005. In the past 16 years, Messi has ledBarcelona to 34 trophy wins, a performance that has landed his name among the sport’s greats and earned him $1 billion of pretax career earnings.

Ronaldo is the most popular athlete on the planet with over 457 million social media followers. Ronaldo is also the most engaged, per Hookit, regularly displaying his zero percent body fat and poster boy good looks for his CR7 lifestyle branded wear, health and wellness sponsors like Herbalife and Clear shampoo, and his lifetime sponsor Nike.

This year he dragged the soccer world through weeks of cliffhanger drama as he fought with the club about playing out the final year of his contract. He stayed, and stands to collect $92 million for doing so, but Messi watch 2021 is in full force with all eyes peeled for clues to where he will land next.

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He is only the second man in history, after Iran’s Ali Daei, to have scored over 100 international goals, recently passing the mark in Portugal’s UEFA Nations League match against Sweden.

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Neymar, PSG Total Earnings: $96 million Salary: $78 million Endorsements: $18 million The 28-year old Brazilian striker, one of the most polarising players in the game for his antics on and off the pitch, quadrupled his pay and criticism when he traded playing alongside Messi in Barcelona for PSG in August 2017. Between his record $263 million transfer fee and his average $70 million salary, PSG is spending more than $600 million to keep him in the French capital. This summer Nike ended its relationship with Neymar allowing him to sign with Puma.

Kylian Mbappe, PSG Total Earnings: $42 million Salary: $28 million Endorsements: $14 million Second year in a row, Mbappe was named the Ligue 1 Golden Boot winner, which honors the player with the most goals for the league. His club also repeated as league champions, declared so last season on a points-per-match basis after play was cut short due to the coronavirus pandemic.

The 21-year old was also tapped for the coveted EA Sports FIFA 21 game cover, making him one of the youngest ever players to do so solo.

Mohamed Salah, Liverpool Total Earnings: $37 million Salary: $24 million Endorsements: $13 million Egyptian Mohamed Salah has reached the 20-goal mark across all competitions in each of the last three seasons at Liverpool, and helped propel the club to its first Premier League title in 30 years in 2019-20.

Salah has the highest win rate of any league player to have appeared in over 100 matches. In Liverpool’s 2020-21 opening match he scored a hat trick, the first player in Premier League history to do so. In February, the 28-year old teamed up with long-term sponsor Vodafone to become an ambassador for a UN program that brings digital learning tools to refugees in his native Egypt.

Paul Pogba, Manchester United Total Earnings: $34 million Salary: $28 million Endorsements: $6 million Pogba’s current deal expires next summer, although Manchester United have the option to extend it one more year. The French striker scared fans in early August posting on social media that he had signed for Verdansk F.C. It turned out to be a fictional club and a stunt by sponsor Activation to promote Call of Duty: Warzone Season 5. The 27-year old has also appeared with Messi and Salah in Pepsi’s “Play Never Stops” campaign.

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Antoine Griezmann, Barcelona Total Earnings: $33 million Salary: $28 million Endorsements: $5 million Since the Frenchman’s disappointing debut at Barcelona this past season, rumors have swirled that the club is negotiating to swap him to PSG in return for Neymar, at the request of Messi. Griezmann is an avid Brooklyn Nets fan, often jetting over the U.S. for games and frequently posting his support on social media. Nets star Kevin Durant even helped Barca unveil Griezmann’s uniform switch from No. 17 to No. 7 ahead of the 2020-21 season. In January, he launched Grizi Esports to compete in FIFA, Fortnite, CS:Go, and Rainbow Six.

Gareth Bale, Real Madrid Total Earnings: $29 million Salary: $23 million Endorsements: $6 million Bale continues to butt heads with Real Madrid, manager Zinedine Zidane, and is the most expensive bench warmer in sport right now. He played in just two of Madrid's last 11 LaLiga matches and then was left off the club’s 24-man Champions League squad in early August. The Welshman is an avid golfer and has pitched Taylor Made products and events on social media.

Robert Lewandowski, Bayern Munich Total Earnings: $28 million Salary: $24 million Endorsements: $4 million Due to the coronavirus pandemic, France Football, organizers of the Ballon d’Or, decided to cancel the individual award for the world’s best player. In doing so it is robbing Lewandowski who was the clear favorite to win.

Across all competitions, the Polish striker has directly contributed to 65 goals for Bayern this season — 55 goals and 10 assists in 47 matches. In the Champions League, he scored in every match up until the final against PSG which his team won on a lone goal by teammate Kingsley Coman. Off the pitch, he is one of the most popular athletes on TikTok with 2.4 million followers.

David De Gea, Manchester United Total Earnings: $27 million Salary: $24 million Endorsements: $3 million De Gea’s $25 million salary makes him the highest-paid goalkeeper in the world. In July, he made his 400th appearance in goal in his ninth year with Man United and broke the club record for the most shutouts.

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