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Celebrate Global Entrepreneurship Week by Supporting Digital Entrepreneurship in Nigeria’s First Google Impact Challenge

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Consider Abdul.  Born to low-income parents in a small town in North Central Nigeria, Abdul has just graduated secondary school with very few prospects for his future. Though a very intelligent boy, Abdul has not been able to get admission into university because his parents want him to study medicine and he barely passed his science subjects. Abdul’s main interest is photography – an interest sparked by his uncle who brings his beautiful cameras with him when he comes from Lagos to visit Abdul’s parents.After another argument about his future, Abdul’s uncle asks his parents to send him to Lagos.

In Lagos, Abdul’s uncle helps him enroll in digital photography classes and lets him use his cameras to take photos, which Abdul is able to sell on Shutterstock and other online stock photography sites. Abdul also learns to drive and registers his uncle’s car with Uber and other ride-sharing apps. Before long, Abdul is making enough money to send a small amount to his parents every month and enroll himself at Yaba College of Technology to study photography, even while continuing to take digital photography courses online.

Abdul’s story is not unique. Millions of young people around the world, typically referred to as “Millennials”, are reinventing the way we see life and work in the twenty-first century and technology is allowing them to do so.  In many companies today, as in many households, members of older generations wonder loudly: “what is wrong with these lazy Millennials who don’t want to work hard like we do?” But perhaps this is the wrong question.

Instead of wondering what’s wrong, perhaps we should look at how to stimulate them to create those engines of growth that many of them are plugging into to generate wealth.  Shouldn’t we be asking ourselves how to get our young ones to become active drivers of the global digital economy by creating the next Shutterstock, Uber, Airbnb, Facebook and Amazon?

The Global Industry Vision (GIV) 2025 report revealed that the number of personal smart devices will reach 40 billion and the total number of connections around the world will reach 100 billion by 2025, creating a digital economy worthof $23 trillion! We can either sit back and watch this pass us by or we can start training our young people to fully participate in this as wealth creators instead of as consumers.  At Junior Achievement Nigeria (JAN), we have chosen the former, and that is why we are participating in the Google Impact Challenge.

JAN is part of Junior Achievement Worldwide, the world’s largest and fastest-growing economic education non-profit dedicated to empowering young people to own their future.  Since 1999, JAN has empowered over 800,000 young people in primary and secondary schools across Nigeria, through our financial literacy and entrepreneurship programs, and some of our alumni are now highly successful and socially responsible entrepreneurs.

Not only do we have successful alumni in management positions at all major corporations operating in Nigeria, our alumni also serve as CEOs and Executive Directors of the most dynamic non-profit organizations in Nigeria including FATE Foundation, Africa Initiative for Governance, Paradigm Initiative Nigeria, LEAP Africa, The Education Partnership Center and many other organizations we are proud to call partners in the development of Nigerian youth.

As we encountered reports about the future and the relevance of Nigerian youth, we decided that teaching financial literacy and entrepreneurship was no longer enough to prepare our youth for the future;we had to begin to teach digital entrepreneurship as well!  With unemployment levels rising to almost 20% in Nigeria, we were clear on the need to infuse our award-winning entrepreneurship program for senior secondary school students, the Company Program, with digital skills training so as to develop digital entrepreneurs who are fully equipped lift Nigeria to its highest potential. Our goal is to develop 10,000 young digital entrepreneurs who will put Nigeria firmly among the nations benefiting from that $23 trillion digital economy in 2025!

So this week, as we mark Global Entrepreneurship Week, I hope you will partner with us to make this dream a reality by voting for JAN in the first ever Google Impact Challenge in Nigeria! If we get the highest number of votes, Google will provide a whopping $250,000 as well as training and tools to support JAN in achieving our goals to develop 10,000 digital entrepreneurs in Nigeria by 2025! Join us by voting now!

https://impactchallenge.withgoogle.com/nigeria2018/charities/junior-achievement-nigeria

Happy Global Entrepreneurship Week!

 

Credit: Junior Achievement Nigeria

NGOs - SDGs

Sahara Group Leverages Transformative Innovation For Sustainable Performance

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Sahara Group Team (Source: Sahara Group)

Sahara Group, an Energy Conglomerate has released its 2019 Sustainability Report which reflects its commitment to achieving its corporate goals and creating shared value for stakeholders through economic development, protection of the environment and building a sustainable society.

Tagged ‘Transformative Innovation’, the report highlights how Sahara continues to leverage innovation and technology in achieving its corporate goals and sustainability ambitions across its businesses in Africa, Asia, Europe, and the Middle East.

Director, Governance and Sustainability, Sahara Group, Pearl Uzokwe, said the Group had continued to foster partnerships and initiatives that have co-created a desirable future through innovation.

Uzokwe said: “We have aligned our business operations within our entities with the demands and expectations of our changing world – digitization – which in turn increases our competitive advantage for sustainable growth. Beyond measuring our performance in numbers and outcome, we have raised our lever of sustainability excellence by committing to more strategic partnerships and setting targets to achieve sustainable development from the micro to global scale.”

She said Sahara had aligned its operations and processes in furtherance of the urgent global transition to cleaner energy and low-carbon solutions. *Sahara entered an MoU with the United Nations Development Programme in 2019 to provide access to affordable and sustainable energy in sub-Saharan Africa. This is in line with UN Sustainable Development Goal 7. During the year, we were pivotal to the success of the United Nations Private Sector Advisory Group (PSAG) and joined hands with other stakeholders in  advancing the mission of the African Influencers for Development (AI4Dev), World Economic Forum’s Partnering Against Corruption Initiative (PACI) and other institutions in providing a better quality of life to the world.”

According to Uzokwe, Sahara launched its Green Life Initiative in 2019 in line with its commitment to fostering sustainable environments via the protection of the environment, promotion of a circular economy and recycling of waste within and outside our business. “Among other activities, we established a Recycling Exchange Hub in the Ijora Oloye community and executed upcycling vocational training for the conversion of tyres to usable products. In delivering more environmentally friendly fuels, we committed to complying with the African Refiners & Distributors Association (ARA) standards – the only pan-African organization for the African downstream oil sector – in 2019, as we expanded our investment in the supply of cleaner energy in the form of gas, particularly LPG’” she added.

Sahara is a foremost provider of Liquefied Petroleum Gas (LPG) in Africa through West Africa Gas Limited, a joint venture with the Nigerian National Petroleum Corporation (NNPC). WAGL operates two 38,000 cbm LPG vessels, MT Africa Gas and Sahara Gas that are driving LPG access, security, and stability in Africa. Both vessels have supplied approximately 500,000 MT of LPG across regional markets since their acquisition in 2017. Sahara Group’s 2019 Sustainability Report reflects our economic, social, and environmental activities from January 1 to December 31, 2019. The report is our fifth sustainability report, and our fourth report written in line with the GRI standard. The 2019 Sustainability Report has been organized and presented in accordance with the Sustainability Reporting Standards of the Global Reporting Initiative (GRI). The guidelines seek to achieve consistency amongst corporations reporting on their sustainability activities.

Please click here to access the sustainability report.

Sahara Group

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Wildu du Plessis: Commitment to sustainability opening doors to post-pandemic capital in Africa

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Wildu du Plessis, Head of Africa, Baker McKenzie (Image source: Baker McKenzie)

The industrials, manufacturing and transport (IMT) sector is being hit hard by COVID-19 disruption, but commitment to sustainability could very well lead the sector to recovery. This is according to Baker McKenzie’s report “Sustainable Success: Exploring environmental, social and governance priorities for industrials through COVID-19 and beyond” which revealed that industrialshave taken great leaps forward in relation to environmental, social and governance matters (ESG) in the past decade.  The report outlines how CEOs in the sector have signed up to a new holistic definition of company purpose and most public companies now report on ESG goals. Access to funding is also becoming intricately linked to a commitment to ESG principles, with industrials looking at sustainability initiatives as a way to source capital for projects in Africa.

According to the report, the economic challenges and the huge changes that have turned the world upside down in 2020 cannot be ignored, but the fundamental imperative to embed and prioritise ESG remains — and is arguably more important than ever as the fragility of the world’s current systems and norms is revealed.

The report found that sustainability can be used as a lever of recovery and competitive advantage, where companies proactively consider ESG issues as part of their COVID-19 response and decision-making. Connecting sustainability and business models more closely offers industrials the opportunity to reimagine supply chains, production and revenue streams — the basis for long-term reinvention and success. As such, sustainability is set to be a powerful guiding principle of COVID-19 recovery and a source of advantage for IMT companies. In the fight for post-pandemic capital in Africa, embracing sustainability provides a valuable edge for African industrials. Funding in some areas is already contingent on meeting certain global ESG standards and other investors have followed this lead — requiring documented, planned policies and processes in relation to ESG before investing

Access to capital will be critical to corporate recovery and in ensuring that key industrial and infrastructure projects in Africa can continue. Africa’s leaders have been assessing how best to mobilise capital from local savings pools, shore up development finance from various development finance institutions like the International Finance Corporation, the International Monetary Fund, and the World Bank, and direct capital raised via green bonds towards qualifying projects. 

The market for green and sustainable bonds is set to expand further in the coming years and industrials in Africa are likely beneficiaries of the capital raised. The African Development Bank (AfDB) Green Bond programme, for example, facilitates the bank’s green growth policy by providing capital for eligible climate change projects. Investors are able to finance climate change initiatives via green bonds, which is then allocated to eligible projects.

Green bonds are gaining in popularity across Africa and the larger economies of sub-Saharan Africa have all embraced this.  In 2019, Kenya set up the legal framework and rules for the launch of its first green bond on the Nairobi Securities Exchange,  with the aim of raising capital for green transport, water and energy infrastructure projects in the country. The country announced in 2020 that it planned to issue its first diaspora bond for green infrastructure projects this year, so that Kenyans living abroad could be given the opportunity to participate in the country’s post pandemic recovery via investments in sustainable projects.

Nigeria was the first African country to issue a Sovereign Green Bonds in 2017 and launched its the Green Bond Market Development Programme a year later. The Nigerian Stock Exchange (NSE) Green Bond Market is a platform for green bonds in the country and four bonds are listed on the platform. Late last year, the NSE signed a Memorandum of Understanding with the Luxembourg Stock Exchange to promote cross-listing and trading of green bonds in Nigeria and Luxembourg, with Access Bank’s Green Bond the first to be listed on both exchanges.

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In South Africa, in an effort to drive investment and make it easier to list and trade sustainability-linked instruments, the Johannesburg Stock Exchange (JSE) launched a sustainability segment for green bonds in June this year. In July 2020, the African Development Bank invested ZAR 2 billion in Africa’s first Sustainable Development Goals-linked bonds (SDG bonds), which were issued by Nedbank and listed on the newly launched green bonds segment of JSE. This bond issuance is expected to create jobs, promote SMEs run by members of under-represented groups in the country, and act as a catalyst for green projects.

Post pandemic, IMT initiatives in Africa are expected to have a heightened focus on improving Africa’s capacity for green, low-carbon and sustainable development, via, for example, clean energy, community healthcare, green transport, sustainable water, wildlife protection and low-carbon development projects. Wildu du Plessis believes a commitment to ESG principles is clearly taking centre stage in the quest for post pandemic funding, with access to capital for large industrial projects now likely to contain sustainability requirements.

Article by: Wildu du Plessis, Head of Africa, Baker McKenzie

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NGOs - SDGs

Closing The Gender Gap: An Interview with Dream Girl Global (DGG) Founder, Precious Oladokun

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Dream Girl Global Founder, Precious Oladokun (Image source: Dream Girl Global)

The elimination of gender inequality and achievement of the United Nations SDG 5 on gender equality remains a pressing objective as the global community barrels towards 2030. In this interview, Alaba Ayinuola of Business Africa Online spoke with the Founder of Dream Girl Global (DGG), Precious Oladokun about DGG’s work, gender inequality, and Covid-19. Excerpts.

Alaba: Could you briefly tell us about Dream Girl Global and the gap its filing?

Precious: Dream Girl Global is a non-profit organization that was set up to contribute towards the elimination of gender inequality, and empower young women as a contribution to the 5th Sustainable Development Goal. Specifically, we carry this out through mentorship projects in a bid to empower young girls, encourage them to dream bigger, and help give them excellent head starts at their careers. We are currently in operation in Nigeria and India.

Alaba: What sparked the interest and how are you funding this initiative?

Precious: I have always had a deep rooted passion for gender inequality partly as a result of my experiences as a female in Nigeria, and partly because of the experiences of many other women across the world. Many countries that are poor today have cultural norms that exacerbate favoritism towards males. Norms such as patriarchy and concern for women’s purity help explain the male skewed ratio in India and China, and low female employment in the Middle East, and North Africa. Also, issues like uneven access to education, lack of employment equality, job segregation, and lack of political representation are major reasons behind this initiative.

So far, we have not needed much funding to carry out our projects. However, when there is a need to, we are going to reach out to individuals and organizations with similar interests to help pursue this cause.

Alaba: How does your organization measure its impact?

Precious: Basically, we measure our impact by setting short terms goals, and once a goal is achieved, we mark it out. This gives a clear picture of our activities and generally helps to measure our impact.

Alaba: Kindly share some of your challenges and successes since you launched?

Precious: One major challenge is the refusal of some people to understand the concept of gender equality, resulting in criticism of the cause. Also, the management of data and information is another challenge (yet in a good way). I would rather prefer to refer it as a learning process.

So far, I have been thrilled by the successes that we have recorded. We have been able to reach out to a large number of people through our social media platforms such as LinkedIn, Instagram and Facebook. This has provided an opportunity for us to educate the masses on the importance of gender equality.

Also, we successfully mentored twenty (20) girls in Nigeria and India during our Pilot Mentorship Project that ended a month ago. In Sub-Saharan Africa, only 8% of girls finish secondary school. Imagine what could be achieved if we could start to close this gap and educate more girls.

Alaba: What do you think are the key challenges regarding gender-related issues, both in the workplace and in the home? How might they be overcome?

Precious: In my opinion, the major key challenge is that people do not understand, or more preferably, have chosen not to understand the plight of women. This is particularly prevalent in rural communities. In most societies, there is an inherent belief that men are simply better equipped to handle the best paying jobs. This inequality results in lower income for women, and is one reason why women hardly get recognized among the most financially prosperous persons in the world.

Another challenge is that many men enjoy the dividends of patriarchy, and would prefer to continue to enjoy those. These may be overcome with more sensitization, empowerment of women, and with taking a stand (among other things). By the latter, I mean that people should by their actions and words support gender equality, and call out misogynistic practices.

Alaba: As a social entrepreneur, how has the pandemic affected your work and the organization? How are you prepared post Covid-19?

Precious: Well, the pandemic has not really affected our work per se. Most of what we do involves communication via social media platforms. However, the outbreak of the virus has disrupted our plans to visit secondary schools, low income communities, and households. It is our intention to fully take up these after the pandemic, and we are working earnestly to see that it becomes a reality.

Alaba: What are your three-work-from home tips for founders who are managing a remote team now for the first time?

Precious: Tip no 1: Take full advantage of the internet. The internet is an avenue to explore various opportunities.

Tip no 2: For a founder who is managing a remote team for the first time, you will need to have dedicated, reliable, and self-driven members. You will need people who understand the cause, and are willing to go any length in ensuring that the goals of the organization are achieved.

Tips 3: My last tip is patience. This is a virtue ignored by so many people. Start building, and be dedicated while building. It takes a little patience and it takes a lot of faith but it’s worth the wait.

Alaba: As a young female leader, what drives you?

Precious: I am driven by the possibilities of results, and I am confident that whatever I put my mind to do, I can achieve it. To me, there is no impossibility.

Alaba: What message would you give to younger men and women?

Precious: My message to younger men and women is simple. Build things, watch them grow, and never rush. The key to everything is patience. You get the chicken by hatching the egg, not by smashing it. Another message I feel necessary is the need for younger men and women to develop and build good relationships with people. It will help one go far in life.

Alaba: How do you relax, and what is your favorite tourist destination in Africa?

Precious: I relax by watching movies, swimming, and going to nice restaurants. Regarding my favorite tourist destination in Africa, I would go with Ghana. I have been to a couple of places in Africa, but I find Ghana very interesting because of the people, the culture, and generally everything. But to be honest, there is no place like home. East or West, home is the
best- Nigeria.

Also Read Egyptian FinTech Startup NowPay Scores $2.1 million Seed Investment

P R O F I L E

Precious Oladokun is the Founder of Dream Girl Global; a non profit organization that seeks to empower young girls as a contribution to the fifth sustainable development goal and is currently in operation in Nigeria and India. She also sits on the international board of Uriji, London, a social media company that helps to record dreams for as many years imaginable and help users earn while promoting their passion. She is the youngest and first Nigerian on this Board.

Precious is currently pursuing a career in Law, and is currently a Bar Candidate at the Lagos Campus of the Nigerian Law School. Prior to this, she interned at notable law firms across the Country including Olaniwun Ajayi LP, Templars, Banwo & Ighodalo, and Aluko & Oyebode. She has also served as an external support personnel at global Law Firm, White & Case.

In her spare time, she loves to watch movies, swim, travel, learn French, and taste exquisite dishes.

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