CEO Insights
I Encourage all Corporates To Identify Avenues for Incorporating CSR into their Business Strategies – Bekeme Masade
Bekeme Masade is a Harvard-trained social entrepreneur and currently serves as the Chief Executive Officer of CSR-in-Action. In this interview with Alaba Ayinuola of BAO, she spoke on the state of corporate citizenship in the country; how she has managed her company’s ultimate goal “CSR advocacy” and the challenges involved among other issues.
EXCERPTS:
Tell us about CSR-in-Action
CSR-in-Action is a conglomerate of 3 sustainability focused businesses: CSR-In-Action Consulting, the College of Sustainable Citizenship and CSR-In-Action Advocacy. Our vision to be the foremost independent ethical action network and consultancy for collective social responsibility and corporate governance in West Africa was birthed in 2010. Since then, we have evolved into a leading sustainability consultancy with over 20 member organisations from the business and civil societies, partners in both public and private sector, and clients from diverse industries.
From inception, our goal has been to bridge the sustainability gap through the initiation of sustainable development, responsible behavior and good governance; and we have done this by promoting an inclusive approach to development at every turn. I believe that it is our ability to create solutions that marry the experiences in our local terrain with international best practices that has distinguished us from others, and we constantly work to develop increasingly innovative and sustainable strategies for our valued stakeholders in the public and private sectors.
It is in our efforts to redefine the sustainability terrain that we have, over the years, championed several strategic initiatives. Through our consultancy, we have advanced a major tenet of sustainability by supporting organisations like Etisalat Nigeria, Lafarge Africa, Total Nigeria and the Nigerian Stock Exchange to write sustainability reports, in compliance with the world recognised Global Reporting Initiative (GRI) framework; and assuring reports of organisations like Access Bank. Having introduced the GRI framework to the Nigerian market, today, we are an organisational stakeholder of the GRI and the first indigenous Accountability AA1000 Assurance Partner in Sub-Saharan Africa.
On the advocacy front, we have several flagship programmes including the Sustainability in the Extractive Industries (SITEI) Conference – now in its 6th year – which has brought together key stakeholders in the extractive industries to engage in high level deliberations over opportunities for growth, development and diversification in the sector, with key consideration for good governance, community development, environmental responsibility, and effective stakeholder engagement.
Since 2015, we have partnered with the Nigerian Extractive Industries Transparency Initiative (NEITI) to garner active participation from the public and private sector; and in 2016, the Ministry of Solid Minerals Development, Ford Foundation and the Nigerian National Petroleum Corporation (NNPC) also came on board as partners. We’ve had other partners over the years span several industries including the Canadian High Commission, BusinessDay, Zenera Consulting, Shell, Chevron, Lafarge Africa, Pricewaterhouse Coopers, Zone 4 Energy, and a host of others.
The Collective Social Investment Report is also one of the flagship programmes we are very proud of. This compendium serves as a repository of information on the sustainability strategies and activities of corporates in Nigeria, and goes on to rank them per industry based on global standards in the 3C-Index. We partnered with Accenture in building the framework for the 2014 report, and Ernst and Young served as a reviewer to ensure proper analysis of the information. The 2012, 2013 and 2014 reports – as well as the ranking – can all be found on our website.
Also under advocacy, we have the Good Citizen Initiative, which is a focused campaign to reorient the minds of everyday Nigerian citizens to act responsibly to the end that we build a Nigeria we would all be proud to call home.
Over the years, we have recognised that we cannot only tell people to do, but we must also empower them to do. Our College of Sustainable Citizenship runs an entire gamut of sustainability focused courses that will build the necessary capacity in individuals, corporates and governments to understand the economic, social and environmental responsibilities that accrue to them, and action these effectively and sustainably.
Our holistic approach, therefore, provides a suitable platform for responsible individuals, non-profits, philanthropists, organisations and governments to develop and showcase their ethical and sustainable investment initiatives, and incorporate best practice that will lead to the promotion of sustainable development in every sector of the Nigerian economy.
Is there any difference between philanthropy, corporate social responsibility (CSR), and corporate citizenship?
Certainly, there is. Philanthropy has a narrower, more limited scope than both corporate social responsibility (CSR) and corporate citizenship – which can be used interchangeably. Philanthropy refers primarily to donations made to charitable or non-profit groups either by the corporation, its employees, or both. CSR – which is also sometimes called corporate citizenship – deals with the economic, social, and environmental consciousness and responsiveness of an organisation, which can involve philanthropy.
We know popular philanthropists like, Bill and Melinda Gates, Warren Buffet, and John Rockefeller, to name a few. These individuals, through their foundations, have given billions of dollars in aid to vulnerable communities all over the world, and we find many companies who do same. While donations to communities, Internally Displaced Persons (IDP) camps, clinics, or schools is commendable, the paradigm has shifted, and demands that we go the extra mile to address an organisation’s need to treat their stakeholders ethically and with respect; this is where CSR and corporate citizenship take the reins.
With CSR and corporate citizenship, a company has to show its commitment to ethical behavior, balance stakeholders’ needs, and protect the environment, whilst creating economic value. The link between its efforts at CSR and its core values must, therefore, be strong to make notable impact.
Leading a social enterprise in Nigeria, what has your experience been in CSR consulting, advocacy, and sustainable citizenship?
CSR-in-Action began with advocacy; and our experiences in the space drew our attention to the disconnect between the efforts of corporate and public sector organisations, and the needs of the communities within which they operate. Thus, we have honed our skills to provide better positioning and alignment of goals, strategies and programmes.
It has also been our experience that concepts with more long term benefits than immediate pay offs, take more time to catch on, but eventually do so given the right environment, commitment, and support. Just a few years ago, the general reaction to the subject of ‘sustainability’ or ‘CSR’ was rather disappointing. Companies were neither willing to accept responsibility, nor make the requisite changes and adopt new innovations to create shared value for all. Fortunately, the wind of change blowing across the globe has changed that perspective in Nigeria. Organisations now see more clearly the need for responsible and sustainable behaviour if they will compete, survive and even excel on the local and global scale.
For instance, many of the multinational oil & gas companies have been compelled to pay more attention to their exploration activities and its environmental impact in their host communities. The increasingly strict regulations in this regard, and the brand equity they lose by failing to comply has inspired a previously scarce sense of commitment to doing business responsibly. And we have seen this deliberate attention come into play in the increased participation from both public and private sector in the SITEI conference over the years.
The marked growth we have seen has certainly been encouraging. Through our transition to training and consulting, we have helped many companies set the standard for sustainability in their respective industries by not only raising awareness on international best practice, but by building capacity and supporting these organisations to take steps in the right direction.
What are the major challenges facing social entrepreneurs in Nigeria?
It often feels as though these challenges are innumerable, but for starter, there is the lack of funding. Because social entrepreneurs are more focused on social, cultural and environmental issues that do not immediately boast economic viability, funds are often not readily accessible. This typically leads to organisations that lack efficiency in their operations.
There is also a clear lack of mentorship support. The younger social entrepreneurs are usually full of passion but have little experience when they venture into this sector are thus in need of capacity to set up professional establishments. Unfortunately, the right type of guidance is often not available. Looking at CSR-in-Action for instance, at the beginning, no other organisation was driving CSR like we were, as such, there was no local example to learn from or emulate. We were, therefore, forced to look beyond the shores of Nigeria to acquire the necessary training and guidance that would make us stand out.
Another major challenge is genuine partnerships from reputable bodies. The ability to make tremendous impact would be tremendously enhanced through collaborations, yet, many social entrepreneurs lack access to such partnerships – international and local. Where social entrepreneurs have fantastic ideas with clear plans for implementation, and valuable benefits, they often need the support of reputable, bigger and more viable organisations to implement successfully. Unfortunately, many of these organisations do not buy into the vision, and such programmes die naturally, or are implemented poorly.
Poor infrastructure has equally hampered progress for all types of organisations, and social entrepreneurs are no different. Erratic power supply, bad road network, poor transport system, and many other socio-economic issues have significantly raised the cost of living in Nigeria, over the years. Nigeria has been judged one of the fastest growing economies in Africa after South Africa, and with population of over 150 million people. Yet, we lack the basic infrastructure to meet the needs of majority of the population; how can we then hope to stimulate activities that will make the required impact on the society?
Of course, it would be impossible to answer this question without identifying corruption as one of the biggest problems a social entrepreneur faces. More disheartening is the fact that social entrepreneurs are just as easily perpetrators, as they are victims, of corruption. Where some projects have stalled because the organisation refused to give kick-backs to those who have deemed themselves ‘benefactors’, others have used their organisations as fronts to make quick cash at the expense of corporates with good intentions. It is, therefore, difficult to build trust, making progress practically impossible.
What sustainable strategies have helped you navigate the challenging business environment?
Challenges are not new, and in fact, we embraced this vision knowing the possibility of not just encountering them, but much more, overcoming them. Consequently, we made clear cut choices that would enable us to not only compete, but stand out in our market. Also, we clearly defined our strategy and business model, adopted a sustainable lifestyle as an organisation, and positioned ourselves to collaborate profitably with likeminded, future thinking organisations, both home and abroad such as the United Nations Global Compact (UNGC).
Specifically, we have navigated the business terrain sustainably first by diversifying our portfolio to meet increasing demands in newer yet related spheres. We discovered that the world around us is changing constantly and quickly. As such, to avoid being left behind, we had to decipher other useful avenues to deliver relevant business solutions and by so doing, bring value to our clients in the most sustainable way. This has positioned us as a dynamic organisation with global aspirations.
Secondly, we have maintained our consistency of quality. We understand what makes us unique and what drives our market, and we have painstakingly maintained that level of quality service delivery to our esteemed clients. This, in addition to the integrity that we have become known for, keeps us ahead of the pack and has earned us the deserved respect. We strictly abide by moral values that prevent us from either giving or taking bribes, shortchanging our clients in any way, or manipulating figures for any personal gain.
I believe one of our major strengths also lies in collaboration. Like I earlier said, we have actively collaborated over the years with international and local organsiations. These collaborations have allowed us to leverage other – and sometimes bigger – platforms to sail through uncharted waters over the years.
Finally, we are keen on ensuring that we genuinely seek the good of our clients, developing new and sustainable ways of meeting their needs in a most transparent manner. We are dedicated to keeping our word as stated in any contract we sign, and where we are unavoidably unable to deliver on any of our responsibilities as agreed, we are forthright with all clients.
What recommendations do you have for corporates with no CSR plan operating in Nigeria and Africa?
Any CSR initiative must be deliberate to take advantage of the tremendous benefits that accrue. With the increasing attention being paid to the positive or negative impacts of the activities of organisations, corporates are paying more attention to CSR, although traction is still somewhat slow. The key thing to remember is that CSR is not just a department, but must be an integral part of the system or framework that drives an organisation. That way, nothing is left to chance.
Today, global trends point to the fact that stakeholders are as equally concerned with social and environmental impacts of corporates’ activities, just as much as the economic impacts. Considering that no business can prosper in a declining locality. Thus, the problems of education, health, crime, unemployment, drugs, socio-political unrest, global warming, pollution, and a host of others, dramatically affect business. While businesses have previously considered these to be the exclusive domain of government, more and more business leaders across the world are accepting part of the responsibility to improve the communities in which they do business, thus setting good examples and standards for others.
I, therefore, would encourage all corporates to identify avenues for incorporating CSR into their business strategies due to the attendant benefits that comes with it. For instance, incorporating CSR can help companies engage with their customers in new ways, garner them the social license to operate, increase brand loyalty, and inspire innovative and cost-saving approaches to doing business. In the end, the reasons all come down to long-term competitive advantage.
Bekeme Masade
Bekeme Masade is a Harvard-trained social entrepreneur and currently serves as the Chief Executive Officer of CSR-in-Action; an organisation dedicated to promoting the advancement and awareness of Corporate Social Responsibility, women and youth empowerment, good governance and sustainable development in Nigeria.
She holds a Merit in International Human Resource Management & Employment Relations (MSc) from the prestigious University of London, Queen Mary College. As a renowned policy maker and private sector leader Bekeme was nominated to represent Nigeria, alongside other African nationals to understudy the German green economy – Energiewiende – and sustainability with a view to localizing the principles for economic diversification in Nigeria.
Under her leadership, CSR-in-Action has also enjoyed regional recognition as a sustainability expert from both the public and private sector. She initiated the Sustainability in the Extractive Industries (SITEI) conference and has nurtured it into its fourth year with strong government participation. She also implemented the first ever Collective Social Investment Report in 2012 to showcase business activities in the light of Corporate Sustainability and recently partnered with Accenture and Ernst & Young.
She has also embarked on a sustainability reporting, assurance, as well as strategy development under the consulting arm of her firm, CSR-in-Action.
Bekeme is a certified trainer of the world globally renowned GRI G4 sustainability reporting and a certified trainer having undergone the “Train the Trainer” programme. Bekeme is Chairman of the Board of Passion House, and is on the Board of Waste Recycling Community of Nigeria.
Adaku Ijara is an investment professional, chartered wealth manager and astute corporate lawyer with over 19 years of experience spanning legal practice, business development, investment banking, private trust, and asset management. She has led high-performing teams to design customised investment strategies for institutional and individual clients, with the proven ability to develop and achieve new business, build repeat business and establish long-term positive customer relationships at all levels. She is the current MD/CEO of Emerging Africa Asset Management Limited (EAAML), the asset management subsidiary of the Emerging Africa Group, where she is significantly driving the growth of the firm’s AUM and Profitability. In this exclusive interview with Alaba Ayinuola of Business Africa Online (BAO), Adaku speaks on her career path, EAAML, the investment banking and asset management industry in Nigeria, and much more. Excerpt.
Alaba: Could you briefly share your career path and what inspired you to go into investment banking and asset management?
Adaku: I have a background in law and on leaving school and after a very intensive National Youth Service Corps (NYSC) year (I served in a busy SAN’s law firm). I decided that litigation was not for me and the aspiration was to grow into a Company Secretarial role, this actually informed my decision to obtain an LLM in Corporate Governance.
However, in less than 4 months after my NYSC, having worked in a law firm, the opportunity to work in Citizens Bank in 2005 presented itself and that marked the beginning of my sojourn into financial services. I worked in about four commercial banks and a few other organisations before getting into the Investment banking space in 2014.
Alaba: Can you describe your company and the services you offer?
Adaku: Emerging Africa Asset Management is an investment management firm that delivers a range of investment solutions across different asset classes. The company is dedicated to enhancing financial inclusion and offering innovative financial products tailored to meet its clients’ needs. We offer services such as portfolio management and wealth investment advisory, all aimed at delivering long-term value and maximizing clients’ returns.
Our approach incorporates a commitment to governance, risk management, and understanding the evolving economic landscape, particularly in Nigeria. We also have significant experience setting up and managing several successful mutual funds, duly registered and regulated by the Securities and Exchange Commission (SEC).
Alaba: How do you differentiate EAAML from competitors?
Adaku: Distinguishing EAAML from the competition is quite straightforward. Our primary focus is on promoting financial inclusion by developing investment products that cater to a wide range of investors. Also, integrating ESG principles into our investment strategies and ensuring that our practices contribute positively to the environment is something we take pride in. Furthermore, our strong risk management system and our robust technological advancements demonstrated in our latest App highlight how we differ from our competitors.
Alaba: How has your background prepared you for your current role?
Adaku: I am an investment professional, chartered wealth manager, and corporate lawyer with over 19 years of diverse experience spanning legal practice, business development, investment banking and private trust. I believe my roles in the organisations I have worked in have prepared me for my current role as Managing Director of a rapidly growing asset management firm.
Alaba: What roles do ESG considerations play in your investment decisions and your thoughts on DEI in the industry?
Adaku: At EAAML, ESG considerations are pivotal in our decision-making process. We prioritize investments that contribute positively to environmental sustainability, social responsibility, and strong governance practices.
Regarding Diversity, Equity, and Inclusion (DEI), we believe that a diverse and inclusive industry fosters innovation and resilience. At Emerging Africa, we are committed to creating an environment where diverse perspectives are valued, and equity is promoted at all organizational levels.
Having established our stance on ESG and DEI, it is pertinent to highlight that we have a balanced fund (i.e. the Emerging Africa Balanced Diversity Fund) and the Emerging Africa Halal Fund which solely aims to uphold all ESG parameters in terms of investing. We recently initiated a process where we profiled existing counterparties and newly onboarded ones in a bid to make sure that they are ESG compliant to some satisfactory level. Additionally, we have invested in companies with exemplary governance practices, as we believe strong governance is a key indicator of sustainable business performance.
Alaba: What trends do you see shaping the investment banking and asset management industries?
Adaku: We have touched on the discourse of ESG and it’s quite noticeable that there has been a growing focus on ESG-driven investments as clients are now on the lookout for investments that align with their values. I also expect technology to continue to revolutionize the industry as it relates to operational efficiency, customer service, etc.
The investment banking space would still be agog with activities, especially with regards to possible Mergers and Acquisition (M&A) and capital raising activities in the banking sector. At the same time, Fund managers would likely explore alternatives such as real estate, and private equity in a bid to get higher returns and hedge against inflation which is well currently above 30% in Nigeria.
Alaba: Do you think that there is still a career change for you in the future? In this era of constantly being able to reinvent oneself?
Adaku: Hmm..they say ‘never say never’ right? Anyway, for now I am happy in the investment banking space but as I get older and continuously take stock of my life and what matters to me – philanthropy, impact investing and legacy projects are of increasing interest to me -so I am making a lot of time to pursue these interests as I continue to improve myself.
Alaba: Lastly, What advice would you give to aspiring professionals in investment banking and asset management?
Adaku: Well, my candid advice to the players in this space would be to embrace learning. You would agree with me that the industry is constantly evolving, hence the need to stay informed with market trends, new technologies, and regulatory changes.
Additionally, building one’s analytical and technical skills should be greatly prioritized. Finally, I would like to emphasize building relationships and networks across the industry. I am where I am today largely due to these pointers.
B I O G R A P H Y
Investment Professional | Wealth Manager | Corporate Lawyer
Adaku Ijara is an investment professional, chartered wealth manager and astute corporate lawyer with over 19 years of experience spanning legal practice, business development, investment banking, private trust, and asset management. She has led high-performing teams to design customised investment strategies for institutional and individual clients, with the proven ability to develop and achieve new business, build repeat business and establish long-term positive customer relationships at all levels. As a catalyst for change, she is capable of critically evaluating and responding to rapidly evolving economic and business conditions.
She is the current MD/CEO of Emerging Africa Asset Management Limited, the asset management subsidiary of the Emerging Africa Group, where she is significantly driving the growth of the firm’s AUM and Profitability. This led to the award of Largest Fund Manager noted on FMDQ at the 2022 FMDQ Gold Awards. As an experienced executive she possesses strong diplomatic skills, a natural affinity for cultivating relationships and persuading, convening, facilitating, and building consensus among diverse individuals. She also possesses board experience acquired from sitting on the Investment Committees of EAAML’s 5 SEC regulated Collective Investment Schemes.
Prior to her roles in the Emerging Africa Group, Adaku was the Head, Private Trust at United Capital Trustees. In her role, she was responsible for the exponential growth of the UCT’s Private Trust Fund, which contributed significantly to Private Trust becoming United Capital Group’s fastest-growing business. This feat earned her an award for the “most execution-focused staff” in 2017.
She was elected Vice President of the Fund Managers Association of Nigeria in 2022 and joined the EACB Mini MBA program as a faculty member in 2023. In addition to her recent appointments, she is an Executive member of the Association of Business & Professional Women(ABPW) and the National Secretary Women in Finance, Nigeria(WIFNg). She is also an articulate speaker who is invited to speak on issues of wealth management, impact investment and personal finance.
Adaku holds an LLB from the University of Nigeria, and an LLM in Corporate Governance from the University of Manchester, United Kingdom and was called to the Nigerian Bar in 2003. Adaku is also a Chartered Wealth Manager and a fellow of the Global Academy of Finance & Management (GAFM).
Bamidele Adewole is a seasoned finance expert and entrepreneur with a passion for real estate investment, financial advisory, and business development. With a proven track record of success, Bamidele has been instrumental in executing multi-million dollar transactions and advising a growing client base on wealth management and investment strategies. As a thought leader in the financial industry, Bamidele has authored several insightful reports, facilitated numerous seminars and webinars, and published a book, “The Smart Investor’s Guidebook” in 2020. In this exclusive interview with Alaba Ayinuola of Business Africa Online (BAO), Bamidele shares his inspiration for venturing into real estate as a financial and investment professional and the housing gap problem his company, PWAN STAR is solving. Excerpts.
Alaba: Could you tell us about PWAN STARS and your strategic role at the company?
Bamidele: The Company was set up with one primary objective- to reduce the housing gap in the country. We noticed that there was, and still is, a big challenge with accommodation in Nigeria and we decided to put our heads together, set up a business that would contribute in its own little way towards the reduction of this gap. This we are doing gradually as we currently have almost 100 housing units either developed or at various stages in the development process. Our plan is to have at least 7 to 10 building projects consisting of hundreds of units within our portfolio by the end of 2025.
My role as CEO in the company is simple. I am there to provide general guidance to the company and drive its vision which is to help make the dreams of Nigerians to own their own homes a reality. More specifically speaking, my role covers areas around strategy, product conceptualization, business development and risk management. I also oversee the finance and projects functions. It is my responsibility to ensure that we manage our finances optimally without endue exposure to financial liabilities and similar risks. I also work closely with the technical team in our projects department to coordinate the work of our vendors, artisans, contractors and the likes with the aim of delivering our projects within time and budget benchmarks.
Alaba: What sets your company apart from competitors in the industry?
Bamidele: What set us apart in my own view is our approach to business. We don’t believe in making too much noise or in using hype as a strategy to market our products. We prefer to drive our growth organically through risk management practices as well as product quality and customer service excellence. We don’t just sell products to our clients; we give them a memorable experience – one that would make them almost feel obliged to come back to do more business with us or at least refer us to their networks. We are building a niche for ourselves within the industry as one that does not compromise on standards and ethical considerations. We understand that our clients make sacrifices by investing with us and we do not take this for granted at all. I believe this strategy sets us apart, as many other players in the industry prefer to do things differently.
Alaba: Can you share a notable PWAN STARS achievement or success story?
Bamidele: One notable achievement to point to is our recent completion of a 12-unit apartment block located within the Ajayi Apata New Town, Sangotedo, called The Edifice Apartments. The property includes a fully equipped gymnasium, ample parking space, high speed fibre-optic internet cabling, treated water supply, a children’s playground, automated sewage management, good drainage and road network, horticulture, amongst others. It’s a fully serviced development with services such as cleaning, gardening, fumigation, internet provision, uniformed security, waste disposal and a dedicated customer service support team. We are very proud of this project and the fact that we were able to deliver it within a relatively short period of time, despite the economic headwinds we faced during construction.
Alaba: How is technology transforming the real estate industry, and how is your company adapting?
Bamidele: Technology is a big thing across all industries, and real estate is certainly not an exception. Technology is at the very heart of almost everything we do. From our construction methods, techniques and tools, to our interior finishing, infrastructure developments, provision of amenities and so on, we make sure we continually find ways to do things better and more efficiently through the use of technology. We are also driven by the need to make our customer experience more memorable by providing them with cutting edge options driven by technological ideas.
Alaba: What trends do you see shaping the real estate market in Nigeria?
Bamidele: I see a greater role being played by technology. We are already in the era of smart home automation and I see it becoming more of a standard feature in housing developments, especially within the middle-class segment and potentially lower segment. I also expect to see more emphasis on the provision of green energy solutions as more developers are beginning to embrace sustainability practices in their developments. The awareness is growing amongst both developers and would-be homeowners. I expect that a time would come when building a residential property without including these features would be regarded as “old fashioned” and outdated. We are already incorporating these technologies and features into our developments, so we are well positioned and ready for the future that lies ahead.
Alaba: What inspired you to transition into real estate full time?
Bamidele: The major inspiration for my venturing into real estate was the desire to contribute as much as I could to solving a national problem. I knew I would never be able to do this alone, but I felt that if I played my role, it would help in some way, no matter how small. Also, as a finance and investment professional, real estate being a viable asset class, aligned with my background and training. It wasn’t so much about the financial rewards for me, even though that is important, but the fact that I felt it was something that would allow me make a difference to people by developing and promoting a product that could lead to financial empowerment and long-term wealth creation.
Alaba: What’s one thing you wish people understood about real estate investment?
Bamidele: The major knowledge gap I see regarding real estate investment has to do with the expectation for short term returns. Some people see real estate investment as a scheme where you can invest and start to generate good returns immediately after. All investments require patience, but real estate requires even more patience as the real returns take time to manifest. I would say one should give at least 3 to 5 years to begin to derive the optimal rewards for investing in properties. This does not mean that one cannot generate returns within a shorter period; what it simply means is that on average, most property investments take time to deliver good returns. With good risk management practices, working with a reliable developer and a patient mindset, real estate investors can make a good and sustainable fortune on their investments over time.
Alaba: Lastly, What advice would you give to aspiring real estate professionals?
Bamidele: My advice to them is not to get involved until they fully understand what it takes to survive and thrive in the industry. Because we have a “free entry, free exit” system in the country, there are so many developers who come in unprepared, get their fingers burnt, and aren’t able to cope with the demands and challenges they face. While having financial resources is not an absolute must, it is important that one at least understands how to raise funding for their business, as real estate is highly capital intensive. Many developers therefore struggle to make meaningful impact due to lack of funding and lack of understanding of how to raise funding for projects. Beyond this, there’s also the technical aspects of property business which is often overlooked by many real estate entrepreneurs. I believe every aspiring developer should have a mentor or role model to help improve the quality of their decision making and ensure they don’t make the same mistakes that others before them made. As the popular saying goes, they should “look before they leap”.
BIOGRAPHY
Bamidele Adewole is a seasoned finance expert and entrepreneur with a passion for real estate investment, financial advisory, and business development. With a proven track record of success, Bamidele has been instrumental in executing multi-million dollar transactions and advising a growing client base on wealth management and investment strategies.
As a thought leader in the financial industry, Bamidele has authored several insightful reports, facilitated numerous seminars and webinars, and published a book, “The Smart Investor’s Guidebook” in 2020. His expertise has been showcased on several TV stations, including Channels TV, TVC, Plus TV, and other prominent media outlets, as well as in print media.
As the CEO of PWAN STARS, a fast-growing real estate development company in Lagos, Nigeria, Bamidele drives the company’s vision with his entrepreneurial spirit, inspiring a team of motivated professionals to achieve exceptional results. His leadership has positioned the company as a major player in the industry.
Bamidele Adewole is a member of the Institute of Chartered Accountants of Nigeria, Chartered Institute of Stockbrokers, Chartered Institute for Taxation, and Chartered Institute for Securities and Investments (UK). He is also a member of the Securities and Exchange Commission in Nigeria and an authorised Dealing Clerk of the Nigerian Exchange Group.
Remi Dairo is a senior coach and principal consultant at Producitvate Plus USA. He is also the President of the Institute of Productivity and Business Innovation Management (IPBIM) a globally focused African institution of productivity and innovation learning. The institution is in partnership with some of the world’s best institutions around the globe. In this interview with Alaba Ayinuola of Business Africa Online (BAO), Remi shares his career path as a productivity expert and why he launched the Affluents community. Experts.
Alaba: What inspired you to become a productivity expert and what sets you apart from other productivity experts?
Remi: I believe this early exposure to the world of both the private and public sectors was instrumental in firing my passion for productivity. For one, I have always been appalled by indolence and inefficiency; moreover, it peeves me off when people say something cannot be done or that one puts effort only when the boss is looking. With time, this passion combined with a divine calling, culminating in what was then called The School of Productivity back in 2007, now known as the Institute of Productivity and Business Innovation Management. The same passion drives my company in the United States today, Productivate Plus LLC.
Alaba: How do you define productivity, and what are some common misconceptions about productivity?
Remi: Well, I have my own peculiar definition of productivity. While to some it is efficiency or effectiveness, others take it as mere results; for me, productivity will come across as “Product+Activity”-that is, it is an activity that leads to a product. The product can be tangible or intangible, but what truly matters is the activity creating values. Therefore, I conclude that activity does not equal productivity, since not all activities amount to value either in the workplace or business; this is usually where the mistake occurs about productivity. Activity does not mean Productivity; this a big misconception about the concept of productivity.
Alaba: What is personal and national productivity?
Remi: Personal productivity is considered as the capability of an individual to manage or handle time, tasks, and resources effectively so that desired goals could be reached through a proper balance of quality and output from both a personal and a professional point of view. It means fully realizing one’s potential while sustaining well-being and fulfillment. Productivity on a national level, however, is the aggregate level of efficiency of all resources that a country has, such as labor, capital, and technology, in producing goods and services. It’s a driver of economic growth, which essentially means improved living standards and competitiveness at the international level.
Alaba: What inspired you to create The Affluents Community, and what problem does it solve for Internet entrepreneurs?
Remi: The Affluents Community was inspired by a need to provide a supportive space for internet entrepreneurs and career professionals on a mission to help regular, everyday people break free from mediocrity, increase productivity, become prosperous, and create the best life possible for themselves and their families. So many entrepreneurs and career professionals just need a place where they can be productive, make money, and live a life of legacy. The community focuses on productivity, prosperity, and posterity. This is a community issue that is addressed with mentorship, collaboration opportunities, and resources that help their online ventures grow sustainably. It empowers entrepreneurs and career professionals through the attainment of wealth, wellness, and purpose, creating success without having to go it alone.
Alaba: Can you share your personal journey as an entrepreneur and how it led to creating this community?
Remi: My journey was to become an entrepreneur and be productive but broke. I was working hard but was broke because I didn’t know the way to leverage new media and the internet space. Then, I realized while productivity is great, prosperity is the issue, period. I learned the power of collaboration, and once I achieved financial success, I found myself asking, “What next?” That is when I discovered how important fulfillment was, and leaving a lasting legacy. Further, this insight led to the creation of The Affluents Community, which focuses on three pillars: productivity, prosperity, and posterity.
Alaba: What makes your community “elite,” and what criteria do you use to select members?
Remi: The Affluents Elite is a special VIP group, designed and assembled for online entrepreneurs and career professionals who are not driven by financial success alone but committed to personal growth, fulfillment, and leaving a dent. That which really makes our community “elite” is the high level of collaboration, mentorship, and exclusive resources we offer to members ready to scale their businesses while sustaining a life of purpose and balance. In selecting its members, we look for those who show ambition, growth mindset, and genuine intention to give back and learn from the community. These entrepreneurs and career professionals make sure that excellence is pursued in productivity, prosperity, and posterity.
Alaba: What exclusive benefits, resources, or opportunities do members gain access to?
Remi: Being part of this elite class, The Affluents enjoy an array of exclusive benefits, resources, and opportunities tailor-made to give a boost to an entrepreneurial journey. This will include, but is not limited to:
- VIP Mentorship: Private coaching and guidance by industry leaders and successful entrepreneurs.
- Mastermind Sessions: High-level brainstorming at the elite member level and collaboration on how to defeat business challenges and scale up ventures.
- Exclusive Tools and Resources: Access to premium content, templates, strategies, and courses on productivity, wealth creation, and legacy building.
- Networking: A network of similar-minded entrepreneurs around the world for partnerships, collaborations, and investment opportunities.
- Special Events: Invitations to special retreats, workshops, and seminars on business growth, personal development, and fulfillment.
Alaba: What are your plans for expanding the community, and what geographic or niche markets are you targeting?
Remi: My plans for scaling The Affluents Community involve the development of physical and digital hubs across key regions worldwide. We are targeting cities and states across the United States, as well as major markets in Asia, Canada, the UK, UAE, and Africa, where entrepreneurial and professional ecosystems are thriving.
Along with this geographic growth, other niche markets we are expanding into include internet entrepreneurs, digital marketers, e-commerce professionals, business consultants, and career professionals. The vision is to build active local chapters where entrepreneurs and career professionals can connect, collaborate, and tap into valuable resources. Through our global community, we will teach our members to be able to excel in productivity and financial success by building a life of fulfillment and legacy.
Alaba: How will you maintain the community’s exclusivity and high standards as it grows?
Remi: This means a careful selection process, screening new members according to the values of The Affluents Community as it scales. Regular assessments will help track engagement and quality. In turn, develop members through exclusive programming, curated events, and mentorship. Community standards will be upheld by local chapter leaders, with continuous learning crucial in keeping our members ahead of prevailing industry trends. These strategies also enable a culture of excellence among the entrepreneurs and career professionals.
Alaba: Lastly, What advice would you give to aspiring entrepreneurs seeking to build their own communities?
Remi: Only a few principles have to be followed by aspiring entrepreneurs desirous of building communities of their own. Among them are:
Define Your Purpose: Knowing your mission will attract people with similar mindsets.
Create Authentic Connections: Actually build good relationships and listen to the needs of members.
Add Value: Provide relevant resources and support for overcoming challenges.
Invite Collaboration: Create opportunities for sharing insights among members.
Be Adaptable: Stay open to feedback; evolve as necessary.
Strong Leadership: Surround yourself with a dedicated team who shares your vision.
-
Afripreneur3 days agoMeet Datari Ladejo, the digital strategist helping brands thrive in the digital economy
-
Afripreneur10 hours agoCreativity, Data, and Innovation: Tutu Adetunmbi’s Vision for Africa’s Marketing Future with Stamfordham
-
Press Release1 day agoThe 234 Venture Vault Launches Tech Startups and Talents Hunt Across Nigerian Tertiary Institutions
-
Afripreneur9 hours agoMeet Nzinga B. Mboup, a Senegalese architect committed to climate-friendly construction for African cities