Temie Giwa-Tubosun, a Nigerian entrepreneur on a mission to save lives through LifeBank, her blood sourcing and delivery service
- Published: Tuesday, 17 October 2017 08:04
- Sourced by SolutionsTeam
Aigbe Omoregie has had a passion for business since a young age. He was only 13 when he began selling eggs from his uncle’s poultry farm close to Benin City, the capital of Edo State in southern Nigeria. He started out shifting about 10 crates of eggs a week to various outlets, but eventually grew that number up to 1,000, with seven people working for him. The business lasted all through his secondary school years. “Before I got admission into Auchi Polytechnic (situated in Edo State), I told my parents I was just going to school to earn a degree because I wasn’t going to use it to search for jobs. I knew I was going to be an entrepreneur,” says Omoregie, who is now 36 years old and the managing director of Intercontinental Paint Limited, a Lagos-based paint manufacturing company. During his first year in college, Omoregie sold used clothes, bags and shoes to students; the following year he added typewriters and desktop computers to his product range.
Farmcrowdy is a Nigerian online platform which allows users (sponsors) to invest in the country’s agricultural sector. Sponsors can choose what kind of farms (and crops) they want to invest in. Farmcrowdy then uses the investment to: secure land; engage and train the farmer in best agricultural practices; plant the seeds; insure the farmers and crops; complete the full farming cycle; sell the harvest; and then pay the farm sponsor a return on their investment. Sponsors are able to keep track of the full cycle through updates in text, pictures and videos. Farmcrowdy founder, Onyeka Akumah, tells us about the risks facing the business and his most exciting entrepreneurial moment.
Active managers in Africa and frontier markets have to counter the perceived higher risk of investing in volatile markets prone to political and economic uncertainty. In response, most investors gravitate to growth strategies, pursuing markets or sectors with attractive GDP growth prospects and predictable policy makers. Inevitably, when investors flock to the preferred country or sector, the top-rated companies command a premium valuation, often justified as buying ‘growth at a reasonable price’.