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JA Nigeria Hosts Annual Flagship Student Competition In Lagos – NCOY 2018 Highlights

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The National Company of the Year (NCOY) competition is Junior Achievement Nigeria’s flagship event and the culminating point for the implementation of the JA Company Program and accompanying regional competitions across Nigeria. It occurs in early October and brings together outstanding student business teams across Nigeria to compete for the opportunity to represent Nigeria at the Africa Company of the Year competition.

The goal of the NCOY is to create a signature showcase for Junior Achievement Nigeria (JAN) and the students who benefit from the impact of the JA Company Program®, which is a school-based entrepreneurship education curriculum for senior secondary school students. This annual celebration of success allows young people to demonstrate their business acumen and spirit of entrepreneurship in a competitive environment, which will engage business, education and policy leaders as well as the media.

This year, the competition held in Terra Kulture, Lagos on Thursday, the 4th of October, 2018 with 9 student companies participating in the competition. The student companies who competed are listed below:

 

  1. The Elite Achievers, a student company from Government Secondary School, Tudun Wada, who produced bio gas made from cow dung and a fruits dryer powered by solar energy.
  2. The Brain Max, a student company from Government Girls Secondary School, Abaji, Abuja. They created an online market where they sold farm produce from local farmers directly to customers. They also developed an app which is currently live on the Google Play Store –The Real Farmers Market (RFM)
  3. Brave Girls Company,a student company from Rosary College, Nise, who designed a local water ring boiler that consumes less power to boil water.
  4. Stecomms, a student company from Stella Maris College, Port-Harcourt, who developed a community-based radio transmitter.
  5. Inventive Explorers, a student company from Caro Favored Schools, Ajegunle, who produced a rechargeable handheld LED traffic light for road wardens
  6. Voltage JAC, a student company from Day Waterman College, who produced a flash drive + lighting phone charger.
  7. EBSUTECH POWER LTD, a student company from Ebonyi State University (EBSU) Staff School Abakiliki, who produced an equipment that converts mechanical energy to electrical energy (manual phone charger).
  8. The Elite Enterprise, a student company from Osogbo Government High School who produced bio gas made from cow dung.
  9. Sharon Glory Ventures, the student company of Sharon Rose College, Saki who designed a water level indicator.

 

The student companies were judged by Olutosin Oni, Principal at EchoVC Partners; Ijeoma Agboti-Obatoyinbo, MD/CEO of FBNQuest Funds; Akintunde Oyebode, CEO, Lagos State Employment Trust Funds; Fatima Aliko- Dangote, Executive Director, Commercial, NASCON Allied Industries; Paul Okeugo, CO-Founder & COO, Chocolate City Group; and Moyosore Olisa, Head, Alumni Engagement, Tony Elumelu Foundation. In addition to the highly esteemed judges, also in attendance were Patrick Iyamabo, the Chief Financial Officer of FirstBank Nigeria who gave the keynote address, as well as Nneotaobase Egbe of Channels TV who compered the event.

(L-R : Simi Nwogugu, ED Junior Achievement Nigeria, Paul Okeugo, Olutosin Oni, Fatima Aliko-Dangote, Moyosore Olisa, Akintunde Oyebode, & Ijeoma Agboti-Obatoyinbo)

 

Each student company presented their products and services to the judges and audience following a time for the product demos. Each student company had a booth where they displayed their products and judges had the opportunity to go round and see up-close, how each product/service worked. At the end of the day, three student companies copped all prizes.

Coming in third place, was Sharon Glory Ventures, a student company from Sharon Rose College Saki, Oyo who produced a water level indicator to enable home owners determine the level of water in their tanks. They also received the award for the Most Innovative Product.

(Sharon Glory College receiving award for the third place & Most Innovative Product)

(Student Company executives at the Booth for Product Inspection)

In Second place were the girls of Brain Max Student Company from Government Girls Secondary School, Abaji, Abuja who designed a website and software application for connecting local produce farmers directly to their customers; they also won the award for the best Corporate Social Responsibility project. For their CSR project, they visited Internally Displaced Persons (IDP) camps,assigned members of the camp into various economic cooperative groups based on skill sets and then provided entrepreneurship/financial literacy training to each group.  They also placed approved cooperatives with viable plans on the “Displaced Finance Platform” for crowd funding and they secured start-up funds for them, provided the much needed mentoring to their businesses in the areas of access to market, book keeping and marketing.  Through this, they were able to raise the household monthly income of over 260 IDPs in Durumi IDP Camp from zero to N30, 000. They also used 10% of their profit to provide food stuff and sanitary materials for the IDPs.

(Government Girls Secondary School students receiving award for Second position & Best CSR Project)

(The Student Company executives at their booth for service inspection)

 

And #NCOY2018grand winners, were the Inventive Explorers, a student company from Caro Favored College, Ajegunle, who produced rechargeable hand-held LED Traffic Lights to ease congestion in their locality and also eliminate the use of hands or red flags by traffic wardens. They will go on to represent Nigeria in the JA Africa Company of the Year competition taking place in Ghana this December.

(Caro Favored College receiving the award for First place in the NCOY 2018 competition)

(The student company executives at their booth for product inspection)

We thank all our guests for making time out to be a part of the event; our esteemed judges, for judging each student company objectively; our media partners (Bellanaija, PulseNG, Businessday and ChannelsTV), and #NCOY2018 in-kind sponsors (Wilson’s Juice Co) for contributing to the success of #NCOY2018.

We also recognize and thank Citi Foundation for sponsoring the JA Company Program in Lagos and Abuja thereby giving both the first and second place winners an opportunity to compete (and win). To ACT Foundation, for sponsoring the JA Company Program and regional competitions in Osun and Oyo States, we say a big THANK YOU!We’re sure the students of Sharon Rose College, Saki did you proud by coming in third place.

 

 

About Junior Achievement Nigeria

Junior Achievement Nigeria (JAN) is part of Junior Achievement Worldwide (JAWW), the world’s largest and fastest growing non-profit economic education organization with a 120-country network. Since inception in 1999, JAN has reached over 850,000 students in over 20,000 classrooms in over 29 locations across the country through over 2000 volunteers. As part of a global network, JAN is able to leverage resources and expertise to deliver localized cutting edge experiential programs built on JAWW’s three pillars of work readiness, entrepreneurship and financial literacy, to in- and out-of-school youth ages 5-27 free of charge. You can follow us on our social media pages; Facebook, Twitter, Instagram & LinkedIn. For more information about us, please visit our website www.ja-nigeria.org

 

More Photos of the event can be seen below:

(Stecomms Student Company with the local radio transmitter)

(The Elite Achievers Student Company with their product, A bio gas made from Cow Dung)

(The Brave Girls Student Company with their local Water Ring Boiler)

(Voltage JAC Student Company with their product, a 3 in 1 Portable Flash Drive)

(EBSUTECH Student Company pose with manual charger as judge inspects product)

    

(Some of our guests at the event)

(FirstBank CFO, Mr. Patrick Iyamabo giving a Keynote Speech during the event)

(Mr. Nneotaobase Egbe of Channels TV addressing guests during event)

(JAN ED, Simi Nwogugu, addressing guests before the presentation of awards to outstanding student companies)

 

Credit: Chinonso Ndimantang (Junior Achievement Nigeria)

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NGOs - SDGs

Sahara Group Leverages Transformative Innovation For Sustainable Performance

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Sahara Group Team (Source: Sahara Group)

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

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

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

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

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

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

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

Please click here to access the sustainability report.

Sahara Group

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Alaba: How does your organization measure its impact?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

P R O F I L E

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

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

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

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