Brands/Products
Money Not Sufficient Enough to Make Business Thrive—Elegbe
By Modupe Gbadeyanka
Founder/GMD of the Interswitch Group, Mr Mitchell Elegbe, has said that although money is necessary, it is not sufficient enough to make a business thrive.
The successful businessman said this while giving the keynote address at the annual Lagos Business School MBA Entrepreneurship Expo and Contest themed Entrepreneurship and Business Innovation.
He emphasised at the event that entrepreneurs must first identify the problems they are trying to solve before venturing into any business.
According to him, the more value customers perceive, the more they are willing to pay for goods and services.
He said business owners should not make business plans based on time, but on seasons, noting that, “Do not work so hard climbing a ladder only to discover it is resting on the wrong wall.
“Don’t get too busy with your day-to-day activities that you forget the main reason/objectives for starting that activity in the first place. Beware of activity hype and remember that there is a lot of disruptive hype.”
Mr Elegbe also spoke about the different types of entrepreneurs he listed as the hustler-preneur, life-styler, dealer-preneur, maker-preneur, jack-of-all preneur, slugger-preneur, travel-preneur, side-preneur, Do-side preneur, geek-preneur, and incubator-preneur.
He noted that the knowledge of an entrepreneur determines the kind of problem he is expected to solve.
After his keynote address, Mr Elegbe answered questions from some of the over 300 participants on the online expo, where he emphasised the direct correlation between problems and opportunities and urged budding entrepreneurs to see problems as opportunities to create solutions, businesses and employment.
The keynote address was followed by a panel session of four panellists reviewing it, sharing their business experiences as well as giving tips for new opportunities.
All the sessions of the Expo were moderated by Dr Henrietta Onwuegbuzie who is the Academic Director for the Owner-Manager Programme and Project Director for the Impact Investing policy initiative at the Lagos Business School.
Panellists at the LBS MBA Entrepreneurship Expo and Contest included Paul Orujiaka, CEO of Auldon; Richmond Okafor, CEO of Cleanmax Industries Limited; Stephanie Obi, Business & Marketing Strategist, ST HUB LIMITED and Lawrence Egunjobi, an Entrepreneur.
The Lagos Business School MBA Entrepreneurship Expo and Contest is a project aimed at empowering entrepreneurs across Africa with business acumen and soft skills, building sustainable businesses, giving free business advisory, providing training and pairing them with relevant life-long mentors.
This expo ended with a pitch where some entrepreneurs pitched their business plans to selected judges and had an entrepreneurship exhibition.
The criteria for participation included: the nature of the problems being solved, quality of the solution proposed, business model, sustainability plan and operational effectiveness.
Professor Enase Okonedo, Lagos Business School Dean, in her closing remarks, disclosed that the Lagos Business School will continue to give entrepreneurship in Africa all the support it can, to tackle the looming issue of unemployment in Africa.
Brands/Products
AliExpress Accepts Verve Cards for Payment From Nigerian Shoppers
By Modupe Gbadeyanka
Nigerian shoppers who use one of the world’s largest online retail platforms, AliExpress, can now pay for the items with their Verve cards, Business Post has learned.
This has been made possible because of a partnership between the e-commerce platform and the leading domestic payments card scheme and token brand, Verve International.
It was gathered that the collaboration empowers Verve cardholders, both locally and internationally, to engage in cross-border transactions.
It also reinforces Verve’s unwavering commitment to delivering inclusive, innovative, and secure digital payment solutions that empower individuals and businesses alike, while bridging the gap in global digital commerce.
With AliExpress joining this network and Verve integrated into its payment options, Verve cardholders can easily shop and pay for a wide range of products.
To shop on AliExpress using a Verve card, users need to simply sign in, select the items to buy, and click ‘Buy now.’ When prompted, add a new card and enter the Verve card details. Save the information for future use, confirm the details, and complete the payment seamlessly.
“We are excited to announce that Verve is now accepted on AliExpress, a globally recognised e-commerce leader.
“This marks a significant milestone in our global expansion journey, reflecting our commitment to providing cardholders with access to more possibilities in today’s digital economy.
“The addition of AliExpress to our growing network is just the beginning, there’s much more to come as we continue to innovate, expand, and deliver value to millions of Verve cardholders in Nigeria and beyond,” the Managing Director of Verve International, Mr Vincent Ogbunude, said.
Verve’s expanding global network is bolstered by partnerships with renowned brands such as Google, YouTube, Netflix, Amazon Prime, Facebook, Uber, Spotify, among others, enabling cardholders to conveniently pay for subscriptions in Naira.
These alliances solidify Verve’s position as a trusted leader in the digital payments space, ensuring that consumers can access top-notch services across diverse industries.
Brands/Products
FCCPC Raises Alarm Over Low-Quality Brazilian Sugar in Nigerian Markets
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has raised alarm about low-quality sugar from Brazil in the Nigerian markets.
In a statement signed by the Director of Corporate Affairs, Mr Ondaje Ijagwu, the consumer protection agency said it uncovered the availability of substandard and unregistered sugar products in Nigerian markets, particularly smuggled brands from Brazil, including Grupo Moreno, Terous, USI S. Joao, Alvean and Arapora Bionergia.
The products failed to meet mandatory Vitamin A fortification requirements, posing serious health risks to consumers, undermining the integrity of the local sugar industry, and contributing to price manipulation that harms the market.
Acting on a tip-off, FCCPC operatives conducted discreet investigations across the country, particularly in the South-West and the North-East.
The investigations revealed that many of the identified sugar products lacked normal labelling, including production and expiry dates, batch numbers, and the mandatory National Agency for Food and Drug Administration and Control (NAFDAC) registration.
“Even more concerning, most of the products were not fortified with Vitamin A, a critical nutrient essential for good vision, immune health, and overall well-being.
“The absence of this fortification exposes Nigerian consumers to serious health risks, including blindness and increased susceptibility to infections, particularly among vulnerable groups such as children and pregnant women,” the statement added.
The FCCPC also lamented concerns about the economic impact of these products, noting that the influx of smuggled sugar undermines fair competition, placing undue pressure on compliant local producers who adhere to regulatory standards.
The body warned that importers of these substandard products engage in price manipulation to the detriment of genuine producers and consumers while pretending that the products are genuine.
“This jeopardises the sustainability of the Nigerian sugar industry and also erodes consumer trust in the market,” the statement added.
The FCCPC also warned that smuggling, facilitated through porous borders, particularly from neighbouring countries such as Cameroun and the Benin Republic, further complicates enforcement efforts and hampers traceability.
FCCPC also reassured the general public that it is taking decisive steps to address this issue consistent with the provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018.
“The Commission charged Nigerian consumers to verify the authenticity of sugar products by ascertaining they carry proper labelling, including NAFDAC registration and evidence of Vitamin A fortification.
“The FCCPC is intensifying enforcement and surveillance in collaboration with NAFDAC, the Nigeria Customs Service, and other relevant agencies. These efforts include enhanced surveillance and follow-up market inspections to disrupt the supply chain of smuggled sugar products.
“The FCCPC is also engaging with industry stakeholders to promote compliance with quality standards, protect local producers, and foster fair competition within the sugar market,” it added.
Brands/Products
GOtv Extends Golden Window to Customers for Festive Season
MultiChoice Nigeria, the leading pay-TV service provider, has announced the extension of the Supa Plus Golden Window for the festive season.
Customers can continue to enjoy the GOtv Supa+ package at the discounted price of N13,900 instead of the regular N15,700.
The Executive Head of Marketing for West Africa at MultiChoice, Tope Oshunkeye, stated that the extension of the Golden Window is in line with making entertainment accessible to every home during the festive season.
“By extending the Golden Window, we’re allowing our valued customers to enjoy premium entertainment at a discounted price and create an immersive and delightful experience for families to enjoy together while creating memorable moments”. It’s part of our bigger goal this festive season; to make it a good season for everybody.
In addition to the extension of the Golden Window, GOtv also has an exciting lineup of shows on Africa Magic Showcase to keep viewers entertained throughout the festive season.
Running throughout the festive season, to January 11th, the lineup features captivating titles such as The Jump and 10th Anniversary two new Africa Magic original movies.
The schedule for this season promises something for everyone to enjoy, with the launch of the Holiday channel and the exclusive Bovi Comedy Special – Christmas with Bovi, from December 24th to 26th. Rounding up the entertainment is a feast of football this season.
-
Feature/OPED5 years ago
Davos was Different this year
-
Showbiz2 years ago
Estranged Lover Releases Videos of Empress Njamah Bathing
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Banking6 years ago
Sort Codes of GTBank Branches in Nigeria
-
Economy1 year ago
Subsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years ago
First Bank Announces Planned Downtime
-
Sports2 years ago
Highest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN