Adesuwa Okunbo Rhodes is the Founder and Managing Partner of Aruwa Capital Management, one of the few women owned and led growth private equity funds closing the gender gaps in Africa. In this interview with Alaba Ayinuola, Adesuwa shares her career-path from working with leading global financial institutions to becoming an investor, how she’s closing the investment gender gap with Aruwa Capital, challenges, impacts, as well their plans for 2021. Excerpt.
Alaba: Could you briefly tell me about your journey up till now?
Adesuwa: I was born in Lagos, educated in the United Kingdom for most of my school years and worked in the City of London for some of the leading global financial institutions including J.P. Morgan. I moved back to Lagos, bringing back the skills I learnt to help rebuild and impact society. I am the founder of one of the few women owned, led growth equity and gender lens funds in Africa, Aruwa Capital Management. We invest in early stage growth companies in rapidly growing sectors that are scalable and relatively untapped. I am one of the youngest female private equity fund managers in Africa at 31 years old. I am an entrepreneur, CEO, mother, investor and women’s empowerment advocate.
My journey has been one of focus, determination, purpose, impact and resilience and I hope it can inspire and motivate others to go after their goals.
Alaba: At what point did you decide to launch Aruwa Capital? Tell me more about the fund and its focus?
Adesuwa: Having spent the last 12 years in investment banking and private equity at firms such as J.P. Morgan, TLG Capital & Syntaxis Capital Africa. I launched Aruwa Capital Management with my own money in Lagos in July 2019 and left the comforts of a six-figure salary, in order to make an impact in society with my skills, track record and change the narrative for women and small businesses in Africa. For me it was important to step out and launch something on my own. I wanted to make sure that through launching a fund of my own, I would be able to provide female entrepreneurs with access to capital where they otherwise traditionally wouldn’t have access due to the structural barriers that exist for any woman raising capital let alone women and people of colour. I also wanted to change the narrative for other female fund managers who may have struggled to raise capital despite their track record and expertise, by using what we achieve at Aruwa as a success story to motivate, inspire others and also make the business case to investors for investing in women.
Aruwa Capital Management is an early stage growth equity and gender lens investment fund that invests into established and rapidly growing businesses in Nigeria and Ghana that are currently overlooked by other private equity funds. Aruwa invests in businesses that either provides goods or services that cater to the untapped $15 trillion female economy or businesses that are founded or led by women or employ women in their workforce or value chain due to the increased profitability of gender diverse teams. Due to our focus on the early stage growth segment that is free of competition and our focus on showcasing the increased returns that can be generated when investing in women as consumers and entrepreneurs, we can successfully combine outsized financial returns with long lasting positive socio-economic development and women empowerment outcomes in the countries we invest in.
We not only see our gender lens investment strategy as the moral thing to do given the role women play in society and the multiplier it can have in terms of poverty alleviation for families but also because investing in women and for women has been proven to deliver outsized and superior returns. The data shows that gender balance within organizations improves profitability, reduces risks, brings diversity of thought and decision making. McKinsey estimates that if the gender gap is bridged there could be an additional $28 trillion in global GDP and shows gender diverse executive teams were 21% more likely to experience above-average profitability.
BCG found that for every dollar of funding invested, start-ups founded and co-founded by women generated 2.5 time more than male-founded start-ups. The data supports that investing in women and for women, is good business and we see it as an immense, untapped opportunity that will enhance our fund returns, providing us with a competitive edge due to the limited competition. Our mission is to showcase the business case and success stories, so that other women don’t have the same challenges in raising capital that I had.
Alaba: Was it always your goal to go into investment management?
Adesuwa: Yes, I have always been interested in the financial markets and their impact on the global economy and vice versa. I studied economics in school which piqued my interest in investment banking. After graduating at the University, I landed a job in investment banking and also in private equity. During my time at the private equity firm, I made an investment in a Ugandan drugs manufacturer, which was a very attractive investment but also very significant to the country’s self-sufficiency in producing genuine medicines, a huge social impact. After this experience, my interest was cemented into impact investing and private equity and the rest as they say, is history.
Alaba: What are the challenges you face in the investment space? Have you found it particularly difficult to succeed in this sector as a woman?
Adesuwa: One of the biggest challenges one faces in the African investment space is fundraising. On average it takes an African private equity fund 2 years to successfully raise their fund, which is ridiculous. Private equity and venture capital funds unfortunately must rely on foreign sources of capital which means there is sometimes a misconception regarding the perceived versus actual risk on the continent. When you combine this with the fact that firms owned by women and/or minorities manage just 1.3% of the $69 trillion under management by the industry, as an African woman raising an inaugural fund for Africa, it’s a steep hill to climb.
I am proud of what we have been able to achieve to date at Aruwa Capital Management despite these challenges, rather than being discouraged by the status quo, we are challenging the status quo and using our fund as an example and case study to make the business case to invest in women as fund managers, entrepreneurs, consumers and stakeholders in society. Aruwa aims to provide some concrete datapoints from its fund to showcase the immense opportunity, with the hope that other female founders within the industry have an easier fundraising journey than we did.
Alaba: Male led PE & VC firms get much more funding than their female counterparts. Do you think this is an active discrimination?
Adesuwa: Yes, I think there is bias and discrimination in the industry. Women make up just 9% of senior positions in private equity, only 2% of private equity funds globally are owned by women. Women are significantly underrepresented among the investment decision-makers at private equity and venture capital firms globally. There are not enough women as capital allocators. As mentioned above, white men control 98.7% of AUM in the industry when women make up 50% of the population, this is not right. Aruwa is one of a handful of women owned and led private equity funds in the whole of Africa with 1.2 billion people across 54 countries.
The International Finance Corporation released a report investigating the effect of gender balance in private equity and venture capital. One of the key findings of the report is that private equity and venture capital funds with gender-balanced senior investment teams generated 20 percent higher returns compared with funds that did not have a gender balance. So, even though gender balanced teams with women investment managers outperform and generate more returns, there is still this imbalance amongst capital allocators.
Alaba: Why do you think it’s so much harder for women to raise funds?
Adesuwa: Women face several systemic issues that prevents them from raising capital and scaling their businesses. Women make up half of the population but only represent less than 40% of GDP. I believe that there are unconscious biases female entrepreneurs face, they are often underestimated and not taken seriously despite their track record or abilities. Access to capital is real challenge for female entrepreneurs. Africa has the highest percentage of female entrepreneurs in the world but only 2% of them have access to capital due to these unconscious biases.
Research has found that there is deep seated unconscious bias within the finance, venture capital and private equity industry. The language used to describe male and female entrepreneurs is significantly different and these differences have immense consequences when women are seeking capital and for society in general. For example, research from the Harvard Business Review showed that a male entrepreneur can be described as “young and promising” but a female entrepreneur is described as “young and inexperienced”. London Business School also showed that female founders were far more likely to be asked “preventative” questions about their businesses that emphasized risk and downside.
The men, on the other hand, were asked more “promotion” questions focusing on the “upsides and potential gains” of their businesses, a line of questioning that resulted in six times as much funding on average for men versus women. In 2018, Boston Consulting Group (“BCG”) also found a clear gender gap in business funding, finding that investments in businesses founded or co-founded by women averaged $935,000, less than half of the average of $2.1 million received by men.
These unconscious biases are a fundamental cause of the gender gaps we see in male versus female entrepreneurship.
Alaba: Despite these challenges, have you had any successes so far? How does your company measure its impact?
Adesuwa: Yes, we are proud to be deploying capital from our $20 million fund investing in Nigeria and Ghana. We have managed to mobilise private commercial capital into our fund both from Nigeria but also globally. We have also made a very successful investment in Nigeria which is a local manufacturer of personal hygiene products for women and girls, babies and over 65s. We can showcase from our existing portfolio the seamless intersection of strong financial return, social impact and women empowerment through this investment.
In terms of impact, we are very intentional about measuring social impact from our investments in terms of jobs created. We think private equity investment can be a huge driver in helping to improve employment within Nigeria and across Africa. In addition, in line with our gender lens mandate, we also measure the impact our investment has in terms of increasing the number of women in senior management, in the workforce, in supply chains and on the board. Before we make an investment, we incorporate our standard ESG and gender questions into our due diligence questionnaire to understand what is the basis that we’re starting from across these aspects. We work with entrepreneurs that are willing to institutionalise their businesses and incorporate best in-class governance, ESG standards, and their willingness to address gender imbalances within their companies if there are any.
Alaba: What is the future for Aruwa Capital? Any project in 2021?
Adesuwa: The future for Aruwa Capital is to continue to showcase the untapped potential that exists when women are capital allocators. Showing through our investment strategy the seamless intersection we have between a strong financial return, social impact and women’s empowerment. In 2021, we are focused on deploying more capital so that we can have more success stories in our portfolio. We are working on attractive investments in agribusiness, technology and health care.
Alaba: What is your take on Cryptocurrency and its regulation in Nigeria?
Adesuwa: I think cryptocurrency is a great invention, it’s a new type of money and a store of value that has been working for the last decade or so and is gaining significant popularity. Bitcoin is up almost 400% since the rally in October 2020 and is proving more and more popular as a digital currency. The lack of regulation and government control is what has made bitcoin popular, building on the fact that it cannot be manipulated or controlled as a currency.
The ban on cryptocurrency in Nigeria was surprising as we haven’t seen any similar moves anywhere else in the world by any other government. I think the CBN’s position in 2017 whereby it warned financial institutions transacting in bitcoin that they were doing so at their own risk, was a better position than an outright ban. We can’t be seen as a country that bans innovation or disruptive technologies, we need to have a free market to innovate and thrive in order to continue to attract foreign direct investment.
Alaba: How do you manage your work-life balance? How do you relax?
Adesuwa: There is never a balance, as a wife, mother, CEO, investor, entrepreneur and a woman on a mission to change the face of investing in Africa, there isn’t much time to relax. However, I think it’s important to have a supportive family, my husband and immediate family make it possible for me to juggle everything successfully. I also enjoy cooking, playing sports and travelling whenever possible.
Alaba: Describe yourselves in three words? Why?
Adesuwa: Driven, resilient, intentional.
I don’t take no for an answer; I am very focused on achieving my goals and I am also intentional about having an impact on society and being the change, I want to see. It would have been much easier for me to continue working in a big institution, having the security of a monthly pay check and all the associated “luxuries”, but I wanted to make an impact on society and I will, by God’s grace, see my mission fulfilled which will impact many lives and leave a legacy my children can be proud of.
Adesuwa Okunbo Rhodes is the Founder and Managing Partner of Aruwa Capital Management, one of the few women owned and led private equity funds in Africa investing into untapped investment opportunities in West Africa in the small to lower mid-market. She has over 12 years of investment banking and private equity experience from top global institutions. Prior to founding Aruwa Capital, she spent five years as Managing Partner of Syntaxis Capital Africa, a provider of growth capital to SMEs in Nigeria and across Sub Saharan Africa. Syntaxis Africa was part of Syntaxis Capital, a private equity fund active in other emerging markets with $300 million in AUM from global institutional investors. At Syntaxis Africa, she led transactions totalling more than $200 million across SSA.
Prior to co-founding Syntaxis Africa in 2014, Adesuwa was in the Leveraged Finance and M&A teams at J.P. Morgan in London, where she was involved in $5.6 billion worth of transactions across emerging markets including Nigeria. Prior to J.P. Morgan, Adesuwa worked in Africa-focused PE fund, TLG Capital as an Investment Professional, involved in transactions across Anglophone Africa including a very successful investment in Uganda, where she personally invested and generated a very attractive return which enabled her to launch her own investment fund. She was named as an Agent of Impact in 2019 by Impact Alpha and recognised as one of the Top 35 Women Moving Africa Forward for her commitment to gender equality in private equity and across the society through Aruwa Capital’s investments.
She started her career at Lehman Brothers and holds a BSc in Economics from the University of Bristol. She currently sits on several boards in Nigeria across agriculture, manufacturing and hospitality sectors. She is married with a son and enjoys cooking, tennis and travelling.
Rhoda Aguonigho: Building a Fashion Hub for African Creatives to Create, Connect and Collaborate
Rhoda Aguonigho is a Fashion entrepreneur and cultural & creative industry advocate who is very passionate about the Creative industry in Africa. As a consultant, she has worked with several fashion entrepreneurs, teaching them how to launch their businesses and achieve their brand goals. As a project manager she has worked on some of Africa’s top fashion events and programs like Lagos Fashion Week, Lagos Fashion Awards, The Leap Project and many more. Rhoda is the Founder of Lhaude Fashion network an organization that creates opportunities for emerging Fashion Talents and the Creative Director of Rholabel. In this interview with Alaba Ayinuola, she speaks on her journey as a fashion entrepreneur and her passion for the creative and fashion industry. Excerpts.
Alaba: Could you briefly tell me about yourself and your brand, Lhaude?
Rhoda: My name is Rhoda Aguonigho and I am a fashion entrepreneur. My work in the fashion industry includes consulting, project management and also running a couple of fashion businesses. I am currently the founder of Lhaude Fashion Network. A fashion organization that creates opportunities for emerging fashion startups and creatives across Nigeria and Africa to thrive and grow. We do this via our various initiatives and our digital community platform. We run a digital hub that is currently home to over two hundred creatives across Nigeria and we are spreading that to Africa in the next couple of months.
Alaba: What attracted you to the fashion industry and what do you intend to achieve?
Rhoda: Honestly, I don’t think there was a major thing for me except that when I was pretty much young, I just watched a lot of lifestyles and my interest in the fashion industry was more of wanting to design outfits. Then, I started styling, writing and then grew into becoming a magazine fashion editor, I started to do project management, working at fashion events, etc, and that is how I have grown in the industry.
I intend to achieve an ecosystem in Africa where the fashion business is sustainable and profitable, a system where creatives get constant opportunities to grow and thrive, where there is no gap between the emerging creatives and the top professionals.
Alaba: What were your initial challenges starting off?
Rhoda: I would say the first challenge was access. At the time I started, I was in school, and not in Lagos which is the fashion capital. I was running a fashion organization and needed fashion experts. But things started to get better as I finished school and was able to get into the fashion industry fully with a job.
Another challenge would be funding. You don’t have a lot of organisations giving grants or funds to fashion businesses or initiatives. Being an organization putting together events, initiatives, and needed funds to execute them. There was no amount that we could charge the participants that would cover the cost.
Alaba: How have you attracted members and grown the organisation from the start?
Rhoda: value! People gravitate to where value is given. From the very beginning, in 2017 when we had our first event which took place in ile-ife, Osun State. We had the Style infidel and a fashion designer – Samuel Noon come down to ile-ife. It was a Lhaude network cocktail and a networking session between grassroots, emerging grassroots creatives, and fashion experts. We have various initiatives, a business incubator program, business advisory and mentorship schemes.
Alaba: What issues have proved to be the most challenging in your attempt to help support fashion designers in Nigeria?
Rhoda: I would say a mindset problem, which comes from lack of proper fashion education. Some of these creatives you are trying to help grow are not even as invested as you are in the development of their businesses. I mean we have those with great mindsets, but to a large extent, especially local creatives who have not had the opportunity to be exposed to the fashion business properly or on a large scale. They don’t see the importance of certain things like PR, Accounting and Bookkeeping, Business models, the core business part of fashion.
Alaba: How has technology impacted the fashion industry?
Rhoda: A lot of things are changing, gone are the days when you have to travel abroad for International fashion courses. You can sit in the comfort of your room and access courses with coursemates across the world. Technology is helping to widen access to the market, improve collaboration among fashion enthusiasts, experts and make the fashion community across the world much closer.
Another way is how technology is cutting down on waste. With 3D fashion, designers don’t have to create a physical collection to present. They can do it via 3D and clients select what they want and the designer makes the actual pieces. But in situations where people don’t like it or people don’t receive it, those samples are wasted.
Alaba: The term Fashiontech is still quite new. What is your opinion on this invention?
Rhoda: Yes, Fashion tech is quite new and I am so excited because the possibilities are limitless. Initially, it was just on the e-commerce level, connecting and building networks. But then it grew to 3D and now NFTs. I see innovations coming out of the fashion and tech industry and feel like there is still so much to learn and catch up with.
I mean, Africa, Nigeria, in particular is still growing but I don’t think we are doing so badly. I think orientation is getting so better, people are getting more aware, adjusting and beginning to adapt to technology in their fashion businesses. We still need more education on FashionTech, this is one of the things Lhaude is actually looking into more for next year.
Alaba: Can you share 3 things that most excite you about the modern fashion industry?
Rhoda: One of the things that excite me is the Fashion Tech like I mentioned in the previous question. The fact that innovation is limitless. I am so excited about the innovation, new ideas, new technology that are to come out from fashion with technology. Another thing is how as an African, there are no limitations to how you can express your creativity or culture, there are no border limitations, because of tech, we can express it to the whole world.
The third thing is building community. It is so amazing when you meet people from other cultures or countries who are interested in similar things as you. That is, as a fashion executive in Lagos, I can connect with a fashion executive or designer in London, Scotland, Australia, etc and we are building communities connected by our passion and drive for creativity, regardless of cultural differences.
Alaba: Where do you see Lhaunde Fashion Network and the Nigerian Fashion Industry in the next 5 years?
Rhoda: I see Lhaude being Africa’s foremost fashion community. The fashion hub where creatives across Africa and the globe plugin to Create, Connect and Collaborate. I definitely see Lhaude building a world-class hub for fashion creatives, where they get access to everything they need to build, to thrive, and to grow.
I see the Nigerian Fashion industry as one of the leading fashion industries across the world. An industry that will be known for innovation, creativity, and originality. With a rich culture and creative people leading the fashion sphere across the world.
Alaba: What piece of advice would you give to budding entrepreneurs?
Rhoda: My advice to them is, be resilient and innovative. I would say to not give up, be resilient and do not just be comfortable with the state of your business or your business idea, constantly innovate, constantly grow. The idea for Lhaude came in 2016 and it didn’t start until 2017. At that time, I was still in college. It was quite difficult running an organization and building a career simultaneously.
Kevine Kagirimundu: The Rwandan crafting eco friendly and fashionable footwear from recycled car tyres
Kevine Kagirimundu, CEO UZURI K&Y
UZURI K&Y is an African inspired shoe brand and manufacturer established in Rwanda since 2013. The company was founded by two women entrepreneurs (Kevine & Ysolde) who met at the University while studying Creative Designs. The two young women simply believed that it would be ideal to gather knowledge and create a common mission. In this interview, Alaba Ayinuola speaks with Kevine Kagirimundu, the Co-Founder and CEO on her entrepreneurship journey into sustainability and fashion, why she is preserving the environment, supporting community and creating jobs through her eco friendly shoe brand. Excerpts.
Alaba: Could you briefly tell me about yourself and your entrepreneurship journey?
Kevine: My entrepreneurship journey started when I was a young girl, I used to re-sew grandma’s clothes, no money came from it, just passion. When I joined university I changed my major from “Engineering to Creative & Environmental built”, it was an important step to starting my journey, I was 19 years old and determined as I started gathering ideas in a book, during that time I also met my co-founder Ysolde Shimwe.
Alaba: What attracted you into sustainability and fashion?
Kevine: I come from a creative family of painters, poets and writers. I loved hand making things and I thought that creating was really my passion, with that I really wanted to add a meaningful value that will bring positive change in my community; that’s why our company is part of the circular economy with a focus on waste management.
Alaba: What’s the inspiration behind your brand, UZURI K&Y and the problems it is set to address?
Kevine: UZURI K&Y is an African inspired eco friendly shoe brand with a vision to brand Africa as an origin of sustainable fashion items on the global market. It was established in Rwanda in 2013 by two university friends Ysolde shimwe & Kevine Kagirimundu with a purpose to solve the environment and unemployment issues in their community.
The company’s core problem that it’s solving focuses on recycling the wastes of car tires where everyday in sub saharan Africa, over one million of them are dumped in landfills and sometimes taking up space from inhabited and vulnerable neighborhoods. In addition to that, it takes up to 80 years for a rubber tire to decompose while polluting water, air and even become nurseries for mosquitoes that carry diseases. Furthermore, in Africa the youth makes 60% of the total unemployment rate and young women are more likely to be unemployed even more often than young men.
In order to tackle these issues we craft viable solutions to recycle car tyres to make functional and fashionable footwear for conscious millennial consumers. The company is also currently running its own production facility, four retail stores and using ecommerce to reach international customers. It is also equipping the youth with practical and soft skills to increase their potential of securing jobs or even creating small businesses. So far, 1,065 youth have been trained and among those 70% are women and 10 have started small businesses.
Alaba: How have you been able to attract customers and build the company till date?
Kevine: Our customers are women who seek shop eco products. Our strategy is to use storytelling via social media channels, we also set to offer a wonderful experience via our retail spaces.
Alaba: What challenges did you run into starting out?
Kevine: I would say there are 3 major challenges as we started: lack of skilled labour, dominated market with second hand and imports and access to finance.
Alaba: Are there other areas that UZURI K&Y is aiming to be more sustainable?
Kevine: We have confidence that we shall be able to brunch into a more diverse range of products, such as sustainable sneaker and even turning the wastes into more useful products.
Alaba: One of the things that stood out on your platform was your intense screening process for each item. Can you explain why you decided to go with this process and what it actually involves?
Kevine: We developed techniques and ways to safely produce our products and it has become our unique proposition. It is an advantage and very important to our customers.
Alaba: Is your brand gender inclusive? What is the importance of gender inclusion in the brand’s choices?
Kevine: Yes, it is important with a special focus on creating jobs for women who are often left behind in different fields. Inclusivity is crucial for the entire world to fight gender inequality, we are proud to be part of this change.
Alaba: How do you feel as an African entrepreneur?
Kevine: I believe that entrepreneurs will be the key pioneers to changing the African continent, It feels like being part of a history book!
Alaba: Where do you see UZURI K&Y in terms of products and markets in the next 5 years?
Kevine: A household African brand, with a tremendous impact on the youth through skills transfer and entrepreneurship.
Alaba: Finally, what’s your advice to budding entrepreneurs, especially females in the sustainability and fashion industry?
Kevine: Trust yourself that you can do it!
Opeyemi Adeyemi: Addressing menstruation stigma with her invention, The Flow Game
Opeyemi Adeyemi fondly called dryemz is a Public Health Physician and owner of the sexual health clinic which runs under O and A Medical Center Ogun State, Nigeria. She had her medical training in Sumy State University, Ukraine and MscPH from the University of South Wales. Opeyemi invented The Flow Game in an effort to address menstruation stigma and has written two books on sexual and reproductive health. Her foundation runs the Brave Boys and Girls club which travels around the South western part of Nigeria to provide sex education to children and teenagers in the effort to fight against public health issues like teenage pregnancy, STIs, HIV/AIDS and Sexual assault. In this interview with Alaba Ayinuola, she speaks on her social entrepreneurship journey, The Flow Game and why she is addressing sexual and reproductive health issues. Excerpts.
Alaba: Could you briefly tell us about yourself and your social entrepreneurship journey?
Opeyemi: I am a public health physician who is passionate about sexual and reproductive health. I am also the creator of the FLOW GAME which is West Africa’s first board game that teaches menstrual health. My journey started in 2017 during my NYSC program where I met with the impact of misinformation and lack of access to youth friendly sexual clinics had on teenagers and young people. This led me to the start of The Brave Boys and Girls Club tour around secondary schools where students are given age specific sexuality education free of discrimination and judgment. From touring, it gave birth to menstruation workshops, consent workshops and now creation of board games that are afrocentric and youth friendly.
Alaba: What inspired you to launch O & A Medical Center and The Menstrual Flow Game?
Opeyemi: The Sexual Health Clinic is under O and A Medical Center in Asero, Abeokuta where anybody regardless of your background, gender, sexual orientation or any other status can get care for sexual and reproductive health issues. We offer a wide range of services that are cost friendly for the average Nigerian. The Flow game was created because during the tour, I realized the power of menstruation stigma, so decided to involve the team of expertise and the girls from the club in the creation.
Alaba: What is the core issue you are addressing with the Flow Game?
Opeyemi: Menstruation is a subject that still has a great level of shame attached to it. Some cultures still see menstrual blood as dirty blood. Some girls use harmful products to collect their menstrual blood. The Flow Game is a fun way to teach menstrual health and hygiene. The game covers four main areas: the female reproductive system, menstruation and menstrual related health issues, menstrual products, pregnancy and contraception. Other issues touched on include sexual assault, consent and sexually transmitted infections.
Alaba: How have you attracted users and grown the platform from the start?
Opeyemi: The platform is currently being reviewed as the plan is to take it digital; decided to start with a board game as it is easier with the tours, besides an average Nigerian teenager might not have the resources to play the game online and did not want to miss out on these sets of people. The buzz around the game is increasing, the game was recognized on Menstrual Hygiene Day 2021 by the African Coalition for Menstrual Health Hygiene and the Indian Commissioner of Women Affairs during a conference held in Bangladesh.
Alaba: Data protection is a concern for users of health platforms. Could you explain your data protection policy?
Opeyemi: Right now we are are currently working on our policy but I can assure users that they would be protected besides the data page in design would require nickname, age, sex and email address.
Alaba: Would you expand in the direction of male health (fertility, contraception, etc)?
Opeyemi: Yes, in June, 2021. In a bid of getting a project with an international organization, the Play It Safe board game was created and it is currently being tested in the school tours. The game is for both genders and covers safe sex practices.
Alaba: As a social entrepreneur, what has been your biggest challenge up until now?
Opeyemi: The field I chose is still faced with a lot of stigma, so a lot of sensitization is involved, changing mindsets and cultures associated with it. The second I would say is finances, balancing the cost of production and the ability of the target community to afford the services rendered.
Alaba: The term Femtech is still quite new. What is your opinion of the state of Femtech industry and its growth?
Opeyemi: Femtech has had a massive impact on female health, so many innovative ideas that are gender specific. A good example are period tracking apps which have allowed women to track the menstrual cycle, have a better understanding of their cycle and make informed decision about fertility. I am happy to be in the industry and I know there is still so much more to be done especially in Nigeria.
Alaba: Where do you see the Flow Game and sexual wellness in the next 5 years?
Opeyemi: This is one question I keep asking myself every day, I desire to go beyond the Flow Game. Very few innovations on sexual and reproductive health tailored to the African woman. I would like to be one of the women creating sexual health innovations that are Afrocentric in the next five years.
Alaba: As an inspiring social entrepreneur, what piece of advice would you give to fellow female entrepreneurs?
Opeyemi: Invest in knowledge; learn from those who have done things in your desired field. Also understand that gender is nothing more than a social construct it does not define YOU, whatever you want to achieve is not tied to gender. Dream big and take steps to turn the dreams into realities.