Connect with us

CEO Corner

Ava Airways CEO Olivier Arrindell On Envisioning An Airline Of The Future And Connecting Africa With The Caribbean

Published

on

Ava Airways CEO Olivier Arrindell is an experienced professional, business acumen and became one of the youngest members of the Caribbean American Chamber of Commerce and Industry with ongoing success in Latina America, Central America, North America, and the Caribbean. In this interview with Alaba Ayinuola of Business Africa Online, He talks about the Ava Airways brand, his mission to connect Africa with Caribbean and role as the new CEO. Excerpts.

Alaba: Kindly tell us about Ava Airways and the gap its fill?

Olivier: With Ava Airways, we didn’t want to just envision a bunch of loosely connected potential innovations. Instead, our goal was to create a cohesive concept for the future airline. To do this, we organized all of our design innovations around three core principles: “Taking Crazy Out of Flying”- making Ava Airways actually worthy of passenger affection; “Know the Journey”- designing touch points that are tailored to the unique moments comprising a passenger’s journey with Ava Airways; and, “Membership Matters”- creating a business model that goes beyond fare-based transactions.

Ava Airways is an Airline carrier of the Dominican Republic with a clear plan and vision to properly connect and operate scheduled flights via its Hub in this city of Santo Domingo, to the Caribbean,  Latin America and Africa. The Service Ava Airways plans to provide would allow Latin American and Caribbean enraptures and corporations to properly connect with each other in commerce and trade specially in the tourism sector

Alaba: As its new Chief Executive, what are your set milestones in terms of growth and impact?

Olivier: In this role, I am responsible and accountable to the Board of Directors for carrying out my duties and my number one goal is to properly connect Africa with the Americas and the Americas with each other.  Being the CEO of an airline is not the kind of job that someone just slips into. Typically, these airline big wigs worked their way up the corporate ranks. In some cases, they’ve been recruited from similar positions in other industries.

Historically, most airline CEOs have spent a considerable amount of time in some type of management structure. I did not have that kind of road map.  I was appointed CEO of Ava Airways because of my row core entrepreneurial spirit.  Entrepreneurial spirit is a mindset. It’s an attitude and approach to thinking that actively seeks out change, rather than waiting to adapt to change. It’s a mindset that embraces critical questioning, innovation, service and continuous improvement.“It’s about seeing the big picture and thinking like there is no tomorrow,”

“To me, being of African descendant, that’s the spirit I live by and is the way of  approaching situations where you feel empowered, motivated, and capable of taking things into your own hands, “Like connecting Africa with the Caribbean”. 

Olivier Arrindell

Companies that nurture an entrepreneurial spirit within their organization encourage their employees to not only see problems, solutions and opportunities, but to come up with ideas to do something about them.” Entrepreneurial CEO’s like myself tend to have a more innovative approach to thinking about their products or services, new directions to take the company in, or new ways of doing old tasks.

Alaba: One of your major priorities at Ava Airways is to connect Africa with the Caribbean and Latin America. What sparked the interest and why now?

Olivier: the second largest African population in the world is Brazil, The USA, Then Spanish Specking Americas, then we have the Caribbean.  Why now you ask?  Because now its our TIME !

Alaba: Could you tell us more about your Africa destination strategy with emphasis on your unique offerings?

Olivier: This is a technical question hahaha, for the simple reason I cannot provide key secrets to our strategy and game plan. Keep a close eye on Ava Airways and see the strategy manifest itself.  

Alaba: How is the current global pandemic affecting your operations and how are you navigating the challenges in these dire times?

Olivier: To be frank we have been given a gift from the higher powers,  because just in time for the launching of Ava Airways here comes Ms. Corona Virus with her attitude, so we have escape all of the issues that others are currently facing and I am great to the gift.

Alaba: What are the safety measures and assurance you have incorporated in your operations? Are you Post COVID-19 prepared?

Olivier: YES, we are.  Ava Airways Director of SQS and the rest of the team shall implement all of the recommendation that is provided by IATA and Local Authorities.

Alaba: How would you describe the state of aviation in Africa and where do you see the industry in 5 years?

Olivier: I believe I am not the correct person to answer this question at this time, however  I do see the state of Aviation in Africa as one of the same kind you are seeing today with the movement of people from Africa to Europe and North America to the movement of people from Africa to the Caribbean and Latin America.

Alaba: What is the future for Ava Airways in terms of its size, products and impact?

Olivier: I believe Ava Airways future is bright and you will be around to see what kind of product and impact we shall have on the industry.

Olivier Arrindell with Ava Airways Celebrity Brand Ambassadors

Alaba: What is your leadership style and philosophy? 

Olivier: Simple, Entrepreneurial Spirit. My fundamental believe is, if you want to make people happy sell ice cream!

Alaba: Your message to the industry and the critical stakeholders who depends on it for survival?

Olivier: Financial disciple and change the way you think.

Also Read: Serah Odende, co-founder of African Harvesters Talks Entrepreneurship and Her Initiative Ag4SDGs

B I O G R A P H Y

Olivier Arrindell was the Managing Director of Financial Planning, Investor Relations, & Corporate Planning for Grace Aviation Holdings, LLC, and in December of 2019 was appointed as the CEO of Ava Airways by it’s Board of Directors. In this role, he is responsible and accountable to the Board of Directors for carrying out his duties and possesses a demonstrated track record in interacting with a policy board. Mr. Arrimdell plans, coordinates, directs, and is responsible for all activities associated with the operation of Ava Airways and it’s related economic development activities.

During his career, Mr. Arrindell has been instrumental in several initiatives including the development of Antigua & Barbuda’s new International Airport and many others, in addition, he has led the communications efforts around Grace Aviation’s company’s investment negotiation with investment partners and debt offerings. Most recently, he played a key role in the development and communication of Ava Airways balanced capital deployment strategy plan for its commercial airline plans which have resulted in favorable terms and conditions through a dividend principle policy.

Prior to joining Ava Airways and leveraging his professional experience and business acumen, Mr. Arrindell became one of the youngest members of the Caribbean American Chamber of Commerce and Industry Inc.

Mr. Arrindell’s ongoing success in Latina America, Central America, North America, and the Caribbean has been facilitated by his knowledge of financial management, Strategic Alliances, airline/aviation strategist, and a track record of successfully pulling together exceptional teams and business partners. 

Ava Airways 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

CEO Corner

Ayodeji Balogun: The Genius Unlocking The Potentials of Africa’s Commodity Value Chains

Published

on

Ayodeji Balogun is the CEO of AFEX where he is leading a team of experts leveraging technology, innovative finance, and inclusive agriculture to connect agriSMEs and smallholder farmers to commodity and financial markets. He holds an MBA from Lagos Business School, Pan-Atlantic University; Global CEO – Africa from IESE Business School and a certificate in Creative Leadership from the THNK School of Creative Leadership. Ayodeji has almost 20 years’ experience trading across West Africa as well as in building and scaling businesses across Sub-Saharan Africa. He serves on several capital market boards and works with several institutions on food security and financing agriculture. In this interview with Alaba Ayinuola, Ayodeji shares the AFEX Story, Impact, future and more.

 

Alaba: Could you briefly tell me about AFEX, the gap it’s filling, and the strategic role you play?

Ayodeji: AFEX unlocks the potential of Africa’s commodity value chains through the development of innovative products and services around storage, logistics and trade with access to finance and a ready market serving as supporting pillars. Our processes are technology enabled, allowing for transparency across operations that support risk management structures and the flow of capital from diverse sources. This play is backed by huge investments in infrastructure which promotes a sustained growth in the commodities ecosystem with an attendant increase in the country’s productivity.

A key aspect of the work of commodities exchanges, and our work at AFEX, is to unlock financing. The pervasive view of agriculture as a high-risk endeavour dissuades the flow of capital into the sector, and to unlock finance, the first fundamental is to ensure that the risk profile is low and manageable. With systems for price discovery and transparency that are provided by a commodities exchange, it becomes easier to monitor the flow of money in and out of the sector, and by extension measure and manage risk, increasing the amount of finance that is made available to value chain efforts over time. 

Alaba: Where did the journey begin?

Ayodeji: The journey started in 2014. At the core of our operations was the need to lift African smallholder farmers out of poverty by providing scalable solutions in areas of finance, storage, and access to the market. Farmers live in a vicious poverty cycle primarily because they are financially excluded. They remain cut off from the formal economy, and almost all their assets exist in cash or near cash. This prevents wealth creation, especially, in an inflationary economy, and results in the continued reality of smallholder farmers, who produce over 90% of food in Africa, remaining the poorest and most underserved group in Africa’s economy. The commodity exchange model provides the infrastructure for fairer and more transparent trade by offering up its platform as a shared resource for key groups of people to participate in.

AFEX Team (Image: AFEX)

We believe in having firsthand contact with farmers we work with while bringing technology right to their doorstep by providing services such as access to warehouse receipt systems, financial inclusion, and access to credit and micro-insurance. On top of this, AFEX has built a platform that facilitates effective trading and settlement commodity transactions, helping to structure and formalize the commodities markets. The Exchange facilitates the aggregation and trading of grains through its expansive network of warehouses across the country, allowing farmers to access markets.

Alaba: Why are commodities exchanges important in the agriculture value chain?

Ayodeji: The essence of a commodities exchange is to set up a transparent and fair market system that determines the fair value of agricultural commodities and promotes a fair exchange of prices among key players in the value chain. Essentially, the commodities exchange unlocks price transparency and investment opportunities that drive wealth and prosperity to everyone involved.

Our five-year legacy in this industry is underpinned by a robust infrastructure to support trade, post-harvest processing, and manage risk in the sector. By engaging with the Exchange, farmers will be able to gain access to finance in form of inputs like fertilizers, seeds, and crop protection products while also being enabled to access support in terms of extension services that impart knowledge on good agronomic services. At the end of the season, the farmers can also access larger markets through the Exchange as their products can be aggregated with that of other smallholder farmers and furnish the orders of Exchange clients on the processor side.

This process is a transparent one where farmers can get information on prices and determine for themselves when to sell considering that our storage infrastructure also allows the farmer to store their produce in AFEX warehouses which have certain quality parameters that ensure that the grains retain their value.

Alaba: As one of the biggest victims of the pandemic. What actions have you implemented to remain in business and stay competitive?

Ayodeji: Yes, there were shocks to both the demand and supply side of the agriculture value chain that happened as a result of the pandemic. I think that it became evident to everyone, however, that it was important to figure out how to keep the country’s food systems resilient, and as a business we definitely stepped up to the plate to get this done. Our technology infrastructure was probably the biggest help in staying competitive.

Ayodeji Balogun (Image: AFEX)

We leveraged our value chain management platform, WorkBench, to continue running seamless operations, where our field officers could easily execute transactions and sync up with the head office in a way that ensured timely settlement of trade, precise logistics and relevant data gathering. This helped us have one of the best years so far in the business during the pandemic.

Alaba: Do you think the industry is still very attractive despite the pandemic?

Ayodeji: The agricultural industry is still very much attractive considering the number of challenges that still need to be solved for agriculture on the continent. The sector remained resilient despite COVID-19 induced shocks. In Nigeria, the sector grew by 2.14 in 2021, outperforming all sectors of the economy except for Telecommunications which grew by 12.9 percent. The economy is currently grappling for growth and the need to diversify the economy has never been more important. The agriculture sector holds the key to diversifying the country’s revenue base. By 2050, Nigeria’s population is forecasted to increase by 2.6%, reaching 400 million. This means more and more people to feed. Irrespective of what shock hits an economy, households must feed which makes agriculture play a vital role. Nevertheless, AFTCTA presents more opportunities for commodities and Nigeria has more comparative advantage.

Alaba: Could you highlight some of AFEX’s achievements and impact in the West African market?

Ayodeji: We now have the largest supply chain infrastructure/ network in Nigeria with over 70 warehouses across 19 states in Nigeria, which serve as hubs for smallholder farmers and traders to transact. AFEX also accounts for over 100,000MT of total national storage capacity, helping to prevent post-harvest losses. Over the past five years, we have reached over 160,000 farmers and traded over 200,00MT of commodities with a total turnover of USD68. 3 million (NGN 28 billion); matching orders from smallholder farmers and brokers with buyers on our trading platform at fair prices, continuously bringing value to farmers and ensuring quality in the ecosystem.

To date, AFEX has a record of many firsts, including being the first commodities operator to create and list the first-ever commodities index in Nigeria, and working with capital market players to structure debt securities to finance over 160,000 smallholder farmers. AFEX also launched the first Asset-Backed Commercial Paper in Africa to bridge the financing gap for processors.

Ayodeji Balogun (Image: AFEX)

We also have the largest database of credible farmer data complete with bank verification numbers and land coordinates. Still, on a platform level, we introduced the first digital trading platform for commodities in Nigeria, ComX, with an increasing array of innovative commodity-backed securities, and a learning module that further facilitates the education and information needs of the commodities market on the continent.

Alaba: In your view, what needs to be done to scale the commodities trade in West Africa where you operate?

Ayodeji: The first step is an investment in Knowledge. We must fill in the information gap about commodities trading. This can be achieved by deploying several education initiatives to foster financial literacy in the market. Already at AFEX, we have over 300 publications of our price data reports and quarterly reports on key commodities that can be traded on our exchange. Once data and information are available, we can scale at an exponential rate. When people have access to the right information on commodities trading then they can make informed decisions around it.

Secondly, we need to continue to solve the problems around productivity. Basically, ensuring that we are actually producing the volumes required at the other end of the chain. Part of this is ensuring that producers have access to credit and inputs that they require to improve their productivity. The third part is then ensuring the efficiency of our market systems. So there’s transparency and liquidity that incentivizes players to continually participate in the market.

Alaba: What benefits does the commodity market offer smallholder farmers?

Ayodeji: What the commodity market offers to farmers is an enabling environment for transparent and efficient trade. Farmers can access market information that allows them to make advantageous decisions in selling their produce.

Farmers enjoy key benefits in;

  1. Productivity: helping farmers produce at the right quantity and quality through access to credit (input financing program) and extension services.
  2. Storage: Warehouse infrastructure enables farmers to store produce and determine when to sell. Also, outreach networks at that level drives farmer registration and inclusion.
  3. Aggregation: Individual farmer produce can form part of a larger order for AFEX clients giving the farmers access to larger markets.

Ayodeji Balogun (Image: AFEX)

We already have a process in place via our outreach structure, which allows us to profile farmers and include them in our systems after which we disburse loans in form of inputs and actively provide support for them through the production cycle up to harvest when we trigger our repayment structures, but also enable the farmers to get access to a market for their leftover commodities.

Alaba: Early this year, AFEX secured $50 million for finance Agri-SMEs in Nigeria. What is the update and when do we start seeing its impact?

Ayodeji: The program is under implementation as we speak with many of the benefits playing out effectively. Essentially, the unique structure of the program is having a dual impact of helping food processors ensure constant volume all through the year and also mitigating the impact of price volatility. Despite the huge volatilities we have seen so far this year, the participants have been able to save millions of naira as they have been able to aggregate the required grains at key market-moving periods of the year.

Alaba: What are the future and next milestones for AFEX?

Ayodeji: Over the next 5 years, AFEX aims to scale 10 times on all our key numbers and metrics. We are looking to expand our trade infrastructure to include a 1 million MT storage capacity that will support a robust supply chain network. The goal is also to enhance the livelihoods of 1 million smallholder farmers, aggregate 1 million MT in trade volumes, and facilitate funding of 500 million dollars for a viable commodity value chain through which farmers and commodity merchants can access commodity and financial markets.

Alaba: A piece of advice to a young and budding investor, entrepreneur, or CEO out there?

Ayodeji: I believe that the tools needed for success in life are beyond building complex financial models and creating insightful decks. They require understanding people (millennials and tech-natives particularly) and how to keep them continuously motivated; understanding the world’s wicked problems (poverty, financial inclusion, climate change and adaptation) and how to create solutions that are commercially viable; and even harder, raising capital to solve these problems and creating social and economic value.

 

Download BAO E-MAGAZINE

 

Continue Reading

CEO Corner

African Bank Appoints Kennedy Bungane, CEO

Published

on

African Bank New CEO, Kennedy Bungane (Press Release & Image: African Bank)

African Bank (“Board”) announces the appointment of Mr. Kennedy Bungane as the Chief Executive Officer (“CEO”) and as an executive director of the Bank and its holding company, African Bank Holdings Limited (“ABH”) effective 14 April 2021. The Bank confirms that the appointment of Kennedy was done in accordance with African Bank’s policy on the selection and nomination of executive directors, and in order to fill a vacancy as well as add to the skillset on the Board.

Kennedy brings over 20 years of banking experience with him, having started his career at Standard Bank in 1991, holding a number of senior positions, including Head of Global Markets Sales, Head of Institutional and Corporate Banking, CEO Corporate and Investment Banking for Standard Bank South Africa, and a member of the Standard Bank Group Executive Committee. After joining Barclays Africa in 2012 as Chief Executive of Barclays Africa Limited and Head of Absa Group strategy, Kennedy led the sale of Barclays Africa Limited to the ABSA Group. More recently, Kennedy headed up the Phembani Group as its CEO. He also brings investment and strategic experience gained as the founder and chairman of Nokeng Telecoms and chairman of Idwala Capital.

Kennedy holds a Bachelor of Commerce degree, a Master of Business Administration, and completed the advanced management program at the Harvard Business School (USA).

Commenting on Kennedy’s appointment, the Chairman of the Board, Thabo Dloti, stated, “We welcome the appointment of Kennedy as the new permanent CEO. Kennedy has a keen sense for managing complex stakeholder issues. He has a proven track record in identifying and nurturing leadership, which promotes strong teams to deliver successful results. His passion for the role that banking can play in transforming society resonated strongly with the Board.

As an experienced banker, he also critically has a good grasp of the strategic challenges facing the Bank, within a muted South African economy and competitive landscape, as well as the required regulatory and governance framework.

 

Download BAO E-MAGAZINE

Continue Reading

CEO Corner

African Visionary Fund (AVFund) Appoints New co-CEO, Atti Worku

Published

on

African Visionary Fund (AVFund) New co-CEO, Atti Worku (Source: African Visionary Fund Website)

About a year ago, African Visionary Fund launched with a bold mission to tackle the inequities and power imbalances in global philanthropy by driving unrestricted resources to African visionaries. At the heart of all they do their values of equity and solidarity, which compel them to center African voices at every level of the organization. They are thrilled to announce the Fund’s new Africa-based co-CEO, Atti Worku!

Atti brings a wealth of experience in the nonprofit world, is a strong advocate for local founders, and is dedicated to righting the historic funding inequity that can hold them back. Prior to joining the Fund, Atti founded and led Seeds of Africa for over 10 years. Seeds is an Ethiopian grassroots organization dedicated to developing the educational foundation for the next generation of African leaders. Under her leadership, Seeds grew from an after-school program serving 15 kids to becoming a full-time multi-dimensional school educating 250 students from pre-K to middle school, and working with over 150 of their mothers providing small business entrepreneurship micro-loans and resources. In just over a decade Seeds has impacted the lives of over 2,000 people, transforming the trajectories of students, teachers, mothers, and their families and creating a future brimming with possibilities beyond a poverty trap.

“My mission is to advocate for African visionaries to be recognized by funders as experts, equal partners and critical drivers of systems change. I’m excited to learn from incredible African leaders with big dreams and even bigger global potential.” -Atti Worku, AVFund co-CEO

Why Co-leadership

The African Visionary Fund is built on the firm belief that proximity matters. Seeded by a group of foundations and philanthropists who wanted to not only take action on equity but also be intentional about shifting the power over resources to African visionaries, shared leadership has been part of the Fund’s DNA from the beginning.

“Co-leadership is mission critical. We cannot build new models for equity-centered philanthropy without living those values within our own institution.” -Katie Bunten-Wamaru, AVFund co-CEO

The AVFund’s organizational journey started with collective and shared leadership in mind as our Founding Working Group worked with our leadership to inform and design all aspects of our organization and funding model. This majority-African, majority-doer group considered a number of different leadership structures for the Fund but gravitated towards co-leadership because it prioritizes proximity and equity, centers the experience of African visionaries, and ultimately helps us shift power.

Our Founding Working Group proved that we can co-create new models of philanthropy centered on collective leadership that shift power and center equity – our co-leadership model is the natural, values-aligned extension of that founding idea.

The Fund

Atti’s lived experience as an African founder has given her firsthand experience of the realities and complexities that local innovators face, making her a great partner in executing the Fund’s mission.

“This role is very personal to me. I see myself in the ambitious and innovative entrepreneurs we engage with at the AVFund. I hope to learn from them, and partner with them to redesign funding systems that give African visionaries an equitable chance of success.” -Atti Worku, AVFund co-CEO

The barriers for African visionaries have been well documented with data showing that less than 5.2% of US foundation giving specific to Africa goes to African-led organizations. And in Atti’s experience, sometimes philanthropy’s oversight of African founders translates into a heavy emotional toll, an internal struggle she also had to deal with in her experience fundraising for her organization. She is committed to helping other African visionaries by being “the voice that reassures and validates them in the face of injustices.”

“Raising philanthropic dollars can be a long trauma for African social entrepreneurs and other leaders of color. On one hand, you’re doing innovative, high-impact work, but on the other, you are constantly being asked to prove yourself on a level far beyond your peers, doing so, and somehow still falling short. Aggregate data on racial inequity in philanthropy already speaks volumes, but systemic injustice is deeply personal. It took me years to realize that I wasn’t the problem,” Atti shared.

On Co-leadership

At the core, the AVFund seeks to create a bridge between global philanthropy and innovative African social changemakers and to do that, it’s critical to have proximity to both our visionary partners and our funding partners. Shared leadership makes this possible.

“There is an inherent tension in the work of the AVFund – we call it the ‘play the game, change the game’ balance. We want to support African social changemakers to play the game to access more sustainable funding now, while also challenging the status quo in ways that build a more equitable philanthropic ecosystem in the long run,” Katie explained. “There will always be a need to balance this tension – having a co-leadership model helps us balance both sides of our work and not lose sight of either goal.”

Having been on both sides of the table, Atti believes a further added benefit of co-leadership lies in the fact that representation matters. “I have been a micro-funder through Seeds and have seen the value of someone like you believing in your vision and empowering it,” she shared.

“At AVFund, we celebrate and choose co-leadership because we recognize the importance of diversity for strong, grounded and authentic leadership.” -Melizsa Mugyenyi, Advisory Board Member.

The Future

Atti joins the Fund at a crucial season of our organizational journey as we look to deepen our impact across the continent – we are more than a third of the way towards reaching our goal to raise US$10 million which will enable us to provide 35 nonprofits across Africa with unrestricted, multiyear grants by 2023.

In the near-term, the Fund is also on track to commit atleast another $US1 million later this year and partner with more African social innovators. Atti is particularly excited to work with those at the forefront of leading-edge innovations whose potential for impact is inhibited by lack of resources and buy-in from funders.

“African visionaries aren’t often given the resources they need to validate the new concepts they have which really makes innovation very difficult. A lack of unrestricted funding for the disruptive ideas coming out of Africa limits potential and slows development. I’m ready to help change that in every way we can!” -Atti Worku, AVFund co-CEO

Source AVFund

 

Download BAO E-MAGAZINE

Continue Reading

Ads

Most Viewed