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Zedvance Offers Zero-Interest Loans to Small Business Owners

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Zedvance loans

By Dipo Olowookere

Small business owners in the country have been given a rare opportunity to obtain interest-free credit facility to catalyse their growth against the backdrop of the global economic downturn occasioned by the COVID-19 pandemic.

This offering is from leading consumer and SME finance company, Zedvance Finance Limited, and it is to empower small and medium-sized enterprises (SMEs).

“We understand the critical role loans play in helping SMEs looking to take their businesses to the forefront of the market.

“More importantly, we know that interest-free loans will allow them accelerate growth by reducing the burden of loan interest payment,” the acting CEO of Zedvance Finance, Mr Ever Obi, was quoted as saying in an e-mailed statement to Business Post on Tuesday.

“Essentially, we are creating a support system for SMEs. Majority of our youth are budding entrepreneurs.

“While we provide ‘safe’ capital for them, we believe that some level of guidance on corporate and product strategy will also be invaluable,” he added.

It was also stated that driven by a need to create a support system for SMEs at this uncertain time, the company will be running a 3-week virtual campaign themed Keeping SMEs Alive and the first edition will hold from August 18 – 31, 2020.

Mr Obi explained during the campaign, “We will be having five top entrepreneurs that will be speaking on different topics on entrepreneurship via our social media platform.”

He explained that the aim of the initiative is to help SMEs stay afloat at this crucial time and to promote economic enterprise in line with the company’s Corporate Social Responsibility (CSR) pillars.

Speaking on how to pitch for the zero-interest loan, the Head of Product Marketing & Brand Communications, Mr Lukmon Oloyede, said “all entrepreneurs can send their ‘pitch’ via Zedvance’s Social Media platforms – @zedvance on Facebook, Instagram, Twitter and LinkedIn or email cu**********@******ce.com.

“Participants are to invite their friends and family to like your pitch, follow Zedvance social media platforms and state why they deserve a zero-interest loan for your business.”

The Zedvance Finance Limited loans are accessible through a range of self-service digital channels including website – www.zedvance.com, mobile app – MoneyPal (available on Google Playstore) and phone call to the Customer Service Centre on 07001001000. Customers can access loans between N2,500 and N5 million in minutes depending on their credit score.

For the lectures through Zedvance’s Instagram Live Chat, the co-founder of Awabah Nigeria, Mr Mr Tunji Andrews, will be speaking on Strategies for SME Fund Raising in a Pandemic Era; the co-founder and CEO of Publiseer, Mr Chidi Nwaogu, will shed light on How to Avoid Common Startup Pitfalls, while the founder of cmDesign Atelier, Ms Tosin Oshinowo, will also lead the conversation on Building a Globally Competitive Creative Enterprise.

The topic on Securing Funding for SMEs in a Post Pandemic Era will have the input of Lanre Messan, the CEO of FirstFounders, while the founder of Margaritas Farm, Ms Margarita Adokuru, will speak on Building Global Competitive Agric-Business in Nigeria.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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5 Ways to Build Your Side Hustle in Nigeria with Gemini

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Gemini Spark

Nobody in Nigeria runs just one hustle. There’s the job that pays the bills, the small business that’s meant to be your way out, and a phone that never stops buzzing with “I’m interested, how much?” You’re the founder, the customer service, the person who chases the dispatch rider and the accountant, all before lunch. The dream is still there. It’s just buried under 47 unread messages and a spreadsheet you’ve been avoiding since March.

You don’t have to keep doing all of this by hand. AI has become the kind of co-founder most of us could never afford to hire, and Gemini can take the boring, heavy work off your plate so you can spend your time on the part that matters, building something people actually want to buy. You don’t need funding to start. Here are five ways to put it to work.

1. Take your idea from a dream to a business plan.

Starting a business often begins with a single idea, but managing the messy explosion of thoughts that follows can be tough. Instead of scattering your notes across different places, brain dump your idea into a notebook in the Gemini app. Process your thoughts out loud, then add links, files, and other reference materials. Gemini will structure your vision, creating a central command centre that grows alongside your business.

As your side hustle grows, graduate to business notebooks — a centralised hub to organise workflows and chats alongside your website and Google Business Profile. Grounded in your context, Gemini proactively surfaces critical action items, like unanswered customer questions, and recommends tailored updates to keep you ahead.

2. Research the Nigerian market in minutes.

Don’t just guess, know your audience. Use Gemini to generate reports on competitors in your specific city or industry. Gemini’s Deep Research feature compresses hours of work into minutes. (Think of it like a personal research assistant.) Ask it to generate a report on your competitors or markets you can target. It can browse hundreds of sources, track down facts and synthesise emerging trends, giving you professional analysis in a snap.

3. Define your brand aesthetic.

Nigerian Gen Zs are redefining success through creativity, and Gemini is the perfect partner to build a standout brand on any budget. Drop your products into high-end backdrops, craft eye-catching typography, or make your own cinematic video ads. You’ll have consistent, professional-grade visuals for web pages and social posts in seconds.

Connect apps like Canva to use the assets you made in Gemini in creative layouts or social drafts without switching workspaces. You can also use Pomelli from Google Labs to build your core Business DNA, and use this to create a comprehensive brand book or stand up a complete website in just a few clicks.

4. Put your logistics on autopilot.

Managing a side gig while studying or working full-time is a struggle. Use Gemini Spark to act as your personal AI agent that runs 24/7. You can set instructions like: “Whenever I get a WhatsApp or email inquiry about my services, extract the client’s details and store them in my tracker.” It handles the heavy lifting so you can focus on making sales.

Gemini Spark acts as your personal AI agent that runs in the background 24/7 — even when your laptop and phone are turned off. Instead of logging data manually, you can connect your tools and apps and let Spark handle the heavy lifting. For example, you can set an ongoing instruction, like: “Whenever I get an email asking about my services, automatically extract the client’s details, store them in my ‘Client Tracker’ Google Sheet, and create a new dedicated folder for them in Google Drive.”

Gemini Spark is available to Google AI Ultra subscribers globally.

5. Know when your price is right.

With fluctuating costs, pricing correctly is survival. Input your material costs, delivery fees, and platform charges into Gemini to find your break-even point. It can help you model different tiers to see how to maintain your bottom line while staying attractive to your local customers.

Once your business is up and running, you can transform your decisions by grounding them in real data. Just upload your spreadsheets to Gemini to uncover hidden trends, generate personalised recommendations, and build a custom, interactive tool that helps you visualise the impact of potential decisions on your bottom line.

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Lagos Grocery Startup GoLemon Winds Down After Funding Struggles

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GoLemon

By Adedapo Adesanya

GoLemon, a Lagos-based grocery delivery startup known for offering bulk household shopping at prices below those of traditional supermarkets, has announced it is shutting down after failing to secure additional funding.

The company has stopped accepting new orders and will permanently close its customer support channels on August 2, bringing an end to a business that sought to make grocery shopping more affordable and convenient for Lagos residents.

In a farewell blog post titled Thank You, Lagos, the startup expressed gratitude to its customers, employees, investors and partners for supporting its journey.

“We set out to help Lagosians save money on groceries without sacrificing convenience, and every order, referral and message of encouragement made that mission worthwhile,” the company said in the statement.

GoLemon, which was founded in 2024, said it would honour outstanding customer obligations, including refunds where applicable, as it winds down operations.

The company added that the decision was not made lightly but followed months of efforts to secure fresh capital to sustain and grow the business.

Founded to tackle the high cost of grocery shopping in Nigeria, GoLemon differentiated itself by sourcing products in bulk and passing cost savings on to consumers while offering home delivery across Lagos.

The startup gained traction among households seeking an alternative to traditional supermarkets amid rising food inflation.

Despite attracting a loyal customer base, GoLemon said the increasingly difficult fundraising environment made it impossible to continue operating.

The closure underscores the growing challenges facing African startups as venture capital funding remains subdued and investors become more selective.

Several technology companies across the continent have been forced to scale back operations, merge with rivals or shut down entirely as they struggle to achieve profitability and raise follow-on funding. Recently, FoodCourt temporarily stopped operations as it couldn’t fulfil its debt obligations.

Before announcing its shutdown, GoLemon had continued expanding its services, including introducing next-day grocery delivery and promotional discounts aimed at growing its customer base. However, those efforts proved insufficient to overcome the funding constraints that ultimately led to the company’s closure.

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Rafa Corporation Accelerates Growth with Investment in Nigeria’s Largest Continuous Soap Manufacturing Facility Lagos

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Rafa Detergent

Rafa Corporation, manufacturer of the rapidly growing Rafa Detergent brand, has announced a landmark investment in world-class soap manufacturing technology, marking a major milestone in its ambition to build one of Africa’s leading home and personal care manufacturing enterprises. The investment significantly expands Rafa’s production capabilities while reinforcing its commitment to innovation, industrial excellence and long-term value creation across Nigeria and West Africa.

The company has signed contracts for the construction and installation of a state-of-the-art Continuous Saponification Plant integrated with a Continuous Vacuum Soap Cooling and Drying Plant, with a 10-tonnes-per-hour production capacity. Once commissioned, the expanded production capacity is expected to position Rafa as the largest single-line continuous saponification plant in Nigeria, Nigeria’s largest powder detergent manufacturer by installed production capacity, and reinforce its long-term commitment to industrial excellence.

Designed with flexibility and efficiency at its core, the integrated production system will produce a wide range of multipurpose soap bars and premium-quality soap noodles. This versatility will enable Rafa Corporation to respond swiftly to evolving consumer preferences and expanding market opportunities across the home and personal care sectors.

In a further demonstration of its growth strategy, the company has also signed contracts for the construction and installation of two state-of-the-art Toilet Soap Finishing Lines, each with a 4-tonnes-per-hour production capacity. Equipped with advanced soap noodle conveying systems and modern automation technologies, the new finishing lines will deliver greater production efficiency, superior product consistency, and enhanced manufacturing reliability, while supporting the company’s expanding portfolio of personal care products.

Together, these investments represent one of the most significant expansions of soap manufacturing capacity currently underway in Nigeria, underscoring Rafa Corporation’s determination to build one of Africa’s most modern consumer goods manufacturing platforms. They also reflect the company’s long-term confidence in Nigeria’s manufacturing sector and its belief that world-class consumer goods can be designed, manufactured and exported from Africa.

Speaking on the development, the General Manager of Starium Detergents FZE, Mr Muhammed Midan Rabiu, described the investment as another defining milestone in the company’s growth journey. He stated that the company remains committed to supporting local value creation, strengthening industrial capacity and contributing to the development of globally competitive African manufacturing.

“This investment represents another defining milestone in Rafa Corporation’s journey to build one of Africa’s leading home and personal care manufacturing enterprises. We are investing in world-class technology, advanced manufacturing capabilities, and the people who will shape our future because we believe Africa deserves consumer products manufactured to the very highest global standards.

These projects significantly strengthen our capacity to innovate, expand our product portfolio and respond to the evolving needs of consumers across Nigeria and West Africa. Beyond increasing production capacity, we are building an integrated manufacturing platform that will drive industrial development, create sustainable employment and contribute meaningfully to the growth of Africa’s consumer goods industry.

At Rafa Corporation, our vision is clear: to build trusted brands, world-class manufacturing capabilities, and a proudly African company that competes with the very best in the world,” he said.

Rafa Detergents has rapidly emerged as one of Nigeria’s leading detergent manufacturers. The company currently operates an 80,000-tonne-per-annum powder detergent manufacturing facility in Alaro City, Epe, Lagos. It is on course to commission a second production line before the end of the year, increasing installed production capacity to approximately 200,000 tonnes per annum.

These additions are an important milestone in Rafa Corporation’s long-term strategy of building one of Africa’s leading home and personal care manufacturing enterprises. By expanding beyond detergents into large-scale soap production, the company is creating an integrated manufacturing platform capable of serving rapidly growing consumer markets across Nigeria and West Africa.

Driven by continuous investment in technology, innovation and world-class manufacturing, Rafa Corporation remains committed to delivering trusted, high-quality products while creating employment opportunities, strengthening local industrial capacity and contributing meaningfully to Africa’s consumer goods manufacturing landscape.

Rafa Corporation

 

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