Timilehin Odusina (CEO), Boluwa Olojo (CMO) and Henry Ajisegiri (CCO) of Versecom.
Based in Lagos – Nigeria and co-founded by Timilehin Odusina, Henry Ajisegiri, Emmanuel Marchie, Abraham Ben-Obaje and Boluwa Olojo. Versecom Limited is a technology services company incorporated in 2016 with a vision to provide free wi-fi infrastructure at public locations and monetize the free service via advertisements visible on each user’s PC, Tablet or mobile phone. In order to adequately monetize the free wi-fi infrastructure we also built a programmatic ad network called “GO Ads” that exclusively serves ads to the users of the service (based on advertisers’ demographic parameters). In this interview with Alaba Ayinuola of Business Africa Online, Boluwa Olojo, Co-Founder & CMO at Versecom, a marketing guru with a passion for her company’s brand and the way they are disrupting the traditional above-the-line channels using with their hybrid ad network ‘Go Ads’ and pushing ads on every screen in Africa. Excerpt.
Alaba: Kindly tell us about Go Ads Africa and the gap it’s filling.
Boluwa: A hybrid ad network that serves both digital and traditional media with a granular pricing model. Clients view reports of all channels from a single portal which makes it easy to assess campaign performance. A big issue with LED boards is inability to get accurate analytics, at Go Ads Africa we can monitor the amount of people who view your boards.
The granular pricing model brings campaign flexibility for brands and makes advertising more affordable for lower tier brands.
Alaba: What was your startup capital and how were you able to raise it?
Boluwa: $500,000 which was raised in Nigeria, but it took about a year and the half to close out the raise.
Alaba: As a startup, what are the challenges and how are you overcoming them?
Boluwa: Building the technology was difficult because of the scale at which we were going about it, it hadn’t been done before so there was a serious expensive learning curve.
Relationship management was very tricky because we had a model that was business to business and business to consumers. What that meant for us, what that we had to simultaneously learn how to manage both traditional users (Individuals) and Client users (Business).
Regulations, when we started there were very few/zero regulation in our space, as a socially responsible organization we had to come up with those rules for ourselves but as we grew and opened the space regulations came in. Some we were already compliant, the others we had to immediately evolve and follow.
Monetizing our platforms was another major challenge. To overcome this, we launched our marketing and sales unit. This enables us to tell the story of the company while also selling the products.
Alaba: How’s your brand unique and different from other digital OOH brands?
Boluwa: We don’t run just OOH; our aim is to push ads to every screen in Africa. However, what sets us apart is the Go Ads hybrid network and that we can offer analytics for the Ads we setup.
Alaba: With the evolution of digital advertising, can we say the conventional advertising platforms are gradually going redundant?
Boluwa: LED boards are also digital forms of advertising, in developed tech cities like Japan and New York, Out-of-Home Advertising (OOH) is a big part of advertising, with the inclusion of Analytics, we are certain that conventional platforms will continue to get better.
Alaba: How can African government best support Startups and SMEs in Africa?
Boluwa: Lagos government does a lot to help startups and we are totally grateful for that, something that will really help in Africa is for the government to build more incubators/hubs for startups. This will be exemplary in terms of showing how conducive the market is for innovations and investment, by part taking in various portions of the value chain.
Alaba: What’s the future for Go Ads Africa and what steps are you taking in achieving them?
Boluwa: To become the first self-serve platform where people can buy both digital and traditional media. This will democratize access to all types of advertising channels.
Alaba: How do you and partners feel as an African entrepreneur?
Boluwa: We feel an enormous sense of responsibility to get as many Africans to the path of prosperity by giving them the opportunity help themselves and a responsibility to show the rest of the world the value and ingenuity of the African spirit.
Alaba: What advice would you give prospecting entrepreneurs who intend to start a business or invest in Africa?
Boluwa: Timing is extremely important and see larger organizations as assets and not competitors.
Alaba: How do you and partners relax and what books do you read?
Boluwa: We socialize a lot; we go dancing and we also visit food fairs. We mostly read articles and when we read book or listen to audio books; they are usually about product management and people management.
Alaba: Please teach us one word in your home language and your favorite local dish?
Abraham: Ajaà is an Igala word that means Marketplace. Pounded yam and Egusi soup bangs different, that’s my fav.
Boluwa: ọmọis a Yoruba word that means Child. My favorite local dish is Amala with Ewedu and Gbegiri.
Emmanuel: Nbò means hardworking in Igbo and Abacha is my favorite local dish.
Henry: Ile-Eko is Yoruba word that means School. My favorite local dish is Iyan [Pounded Yam] and Efo-riro [Vegetable Soup].
Timilehin: Opomulero is a Yoruba word that means Pillar. Lafu and Ila is my favorite local dish.
Versecom is a technology services company incorporated in 2016 with a vision to provide free wi-fi infrastructure at public locations and monetize the free service via advertisements visible on each user’s PC, Tablet or mobile phone. In January 2017 we were awarded the contract to provide free public wi-fi on BRT Terminals by Lagos Metropolitan Area Transport Authority. We are now able to provide free internet access to 100,000 users per day from April 2017 when we successfully built the largest public wi-fi network in Africa; a 15km continuous mesh network on one of the busiest roads in Lagos (serving more than 1.5 million users per day).
In order to adequately monetize the free wi-fi infrastructure we also built a programmatic ad network called “GO Ads” that exclusively serves ads to the users of the service (based on advertisers’ demographic parameters). Building the wi-fi mesh network opened us to other business opportunities like ‘Infrastructure as a Service’ with products like wi-fi offload and CCTV as a Service; these products share the same wi-fi infrastructure but are targeted at Telcos and surveillance-based businesses respectively.
Similar to the extension of the Free Wifi into the “Infrastructure as a Service”, we have also pioneered a new ad model that disrupts the traditional above-the-line channels using our ‘Go Ads’ Ad network by partnering with owners of other advert channels to sell their inventory on a granular basis.
Timilehin Odusina (CEO) is an Innovative Product/Business developer with an eye for Social-Economic Patterns, working on various product and project across various industries. He has done most of his work in Tech-Start Ups (worked with Sharphire Global, Meditel, Intellectric, Hirefreehand e.t.c…) and Techno-Advertising industry. Currently on the board of KUBADI (Hirefreehand – Syracuse), Discreet Labs and is the Team Lead of the Public Access project in Versecom.
Henry Ajisegiri (CCO) is a Product Manager and Data Analyst whose core interests are in product development, performance insights and optimization. He is the head of commercials and partnerships for the company and has a mandate to drive all products to generate sustainable revenue. He is also a trained project management professional and business analyst who consults for early stage startups.
Emmanuel Marchie (COO) is a Covenant university graduate who studied Building Technology. He is the head of Operations at Versecom Limited; he ensures the stability of Versecom’s infrastructure and network on and off site. He has also worked with a few other startups on their product (MoluePro, Intelectric e.t.c). When Emmanuel isn’t working very hard to ensure the company is operating at its best, he is watching Arsenal play entertainment football.
Abraham Ben-Obaje (CTO)is the Lead Engineer on GO Ads Africa. He has successfully designed the City Connect Wifi and developed the GO access. He is a Technological Enthusiast with a passion in Data Analysis and Pattern Recognition. He also enjoys playing a lot of sports for body development and recreational purposes. He believes in equilibrium and numbers.
Boluwa Olojo (CMO) is a Mass communication graduate from Babcock University. Boluwa started working when she was 17 years old and this exposed her to various people and organizations. The last two years of her life was spent working at a digital agency and working with some prominent Nigerian Brands, which is where she picked up fantastic client management and sales skills. Joining the founding team as the first woman on the team, Boluwa is ready to take on the task of telling the Go Ads Africa story and ensuring the 250 million naira target for 2019 is met. When she isn’t working on getting more clients for the business, Boluwa spends her time sprinkling black girl magic around the world, doing Yoga, travelling and writing articles on medium.
Afripreneur Profile: Dayo Adedayo, The Man Behind The Lens
‘dayo Adedayo was born in Nigeria in 1964 and trained as a photographer at the Westminster College and the University of Westminster, both in the United Kingdom.
His major breakthrough came when he worked as a freelance photojournalist with Ovation International, the Number 1 celebrity magazine in Africa. Several of his work adorns the front cover of the magazine for over a 4 year period and the best selling eAfdition, ‘See Dubai and Die’ in 2002 was by him.
He is the author of eleven books; Nigeria 2.0, Nigeria, Enchanting Nigeria, Nigeria The Magical, Lagos State- The Centre of Excellence and Ogun State – The Gateway State, Owe Yoruba, Nigerian Tourism Development Corporation – Tourism is Life, Nigerian National Petroleum Corporation 37 Years in Pictures, Rivers State – Our Proud Heritage, Tour Nigeria and Lagos State – The Centre of Excellence (A Visual Portrait).
His book, Nigeria, was the first of its kind since the creation of Nigeria since 1914. No wonder it became a sort after book by Nigerians and lovers of Nigeria.It was given out to the visiting Heads of State when Nigeria turned 50 in 2010, United Nations General Assembly in New York, 2013, Africa Union Summit on HIV/AIDS, 2013 and the West African Heads of State Security Summit in Abuja 2016 .
His work also adorned the pages of the E-Passport of Nigeria, the One Hundred Naira note to mark the centenary of Nigeria, the walls of the International Airports of Lagos, Abuja and several institutions and homes across Nigeria,and a member on the committee of setting up photography as a course in Nigeria Polytechnics.
The centenary edition of ‘MONOPOLY NIGERIA ’ by Bestman Games contains his work, so also were the pictures on display at the Presidential Wing of the Nnamdi International Airport, Abuja.
Also between 2005 and 2007 he was the official photographer for ‘NIGERIA – THE HEART OF AFRICA’, a project that precipitated a lot of travelling all around the world, exhibiting Nigeria to the world in pictures.
Adedayo hopes that his work will add to the growing canon of contemporary African photography that seeks to challenge perceptions, broaden audiences and show the world the beauty of Nigeria like never before.
Some of his works;
Prioritizing A Traditionally Underserved Somaliland Population Over Profit – Adan Abbey
Adan Abbey is the President of Horn of Africa Insurance, an insurance company based in Hargeisa, Somaliland and providing international standard insurance services to a traditionally underserved Somaliland and Somalia market. A region that lacks the presence of insurance services and access to a robust financial services sector. In this interview with Alaba Ayinuola, Adan explains his company’s strategy to take insurance to the grassroot, change the mind of people to be more proactive with their finance. And most importantly, impact his community by creating more jobs for the youth. Excerpt.
Alaba: Tell us about Horn of Africa Insurance and the gap its filling?
Adan: Horn of Africa Insurance is a general insurance company headquartered in Hargeisa, Somaliland. Our main product offerings include Auto, Property, Medical, and Cargo insurance coverage. Our goal is to be an international standard insurer that provides high quality insurance services tailored to our local and regional context. We are achieving this by providing much needed insurance services to a traditionally underserved population. This is a market that in general has not had access to a robust financial services sector, so we are helping to fill that gap.
Whether it’s by insuring a high value asset for an international investor, or by providing medical insurance to someone who maybe has never had it before, our job is to protect you and your assets while at the same time providing you with peace of mind.
Alaba: What are the challenges, competition and how are you overcoming them?
Adan: One of our biggest challenges right now is the lack of understanding about what insurance actually is. In the absence of formal insurance, the majority of the population here participates in a sort of tribal insurance scheme, one that has existed for generations. You can think of it as risk pooling whereby you contribute to a pool of funds and in the event of a major incident (a car accident for example), your tribe will take money from that pool to help cover the cost of injuries and/or death.
While that has worked to a certain extent, there are many challenges associated with it, so we spend a lot of time educating people on the benefits of formal insurance. We’re out in the field having one on one interactions with people, understanding their needs, and explaining how insurance can be a solution. We can also point to many examples where businesses lost massive sums of money because their goods were uninsured.
Another challenge we face is the lack of insurance specific laws and regulations, which are important to the development of the overall industry and also help spur economic development. We expect that this will change in the not too distant future, so our focus has been on building a strong brand and customer base.
Alaba: Why is your brand different from other insurance brands in terms of your unique selling point?
Adan: As a management team we have over 10 years of direct insurance experience at global insurance companies and even more years in the broader financial services industry. It’s not only the experience that we are bringing to the market, but also a level of quality and service. When you insure with Horn of Africa Insurance you know you’re getting great coverage and a company that will go the extra mile for you. For example if one of our customers is involved in a car accident we try to send the nearest representative to the scene.
An accident can be very stressful so we try to be there whenever we can to help, whether it’s helping with the paperwork, towing, etc. It’s an example of how we try to go above and beyond for our customers. We also work with top international reinsurers, and this allows us to service almost any client need, while providing an extra layer of protection.
Alaba: How is your brand contributing to the development of the insurance industry?
Adan: We are essentially developing a market from the ground up. We are spending time and money to educate people at all levels about the benefits of insurance. We are trying to shift the mindsets of people to think more proactively about their finances rather than reactively. Oftentimes people only understand the benefit of insurance when the experience a significant loss. They have to deal with the financial burdens either alone or if they are lucky with help from their family or community.
Our message to people is that insurance is there to help you in those times of need. To me insurance is deeper than just asset protection, it contributes to wealth creation, and it helps to drive economies. By mitigating your financial risks you allow yourself the opportunity to continue to save and invest in building wealth. And on a national level most investors wouldn’t consider making large investments in a country without insurance.
Insurers also create jobs and are some of the largest institutional investors. So we believe that we are making a significant contribution in the work that we are doing.
Alaba: What markets are you operating in, currently? Any plans for expansion?
Adan: We are currently only operating in Somaliland. Our current focus is to continue our expansion within the country first, as we believe there is great potential to make a positive impact here.
Alaba: What’s the future for your brand and what steps are you taking towards achieving them?
Adan: We believe the future of our brand is to be synonymous with quality insurance at a great price throughout the Horn of Africa region and beyond. Our goal is to be a Pan African insurer and No. 1 in the Horn of Africa region. We are taking it one customer at a time, as success is the result of consistent hard work and execution of a strong vision.
Alaba: What’s your view on the evolution of the insurance ecosystem in Africa?
Adan: Insurance penetration in Africa is roughly 2.8%, which is low but it is not only an African phenomenon. Global insurance penetration is roughly 6%. I do however think that Africa has the chance to be a global leader in this market. This is a continent that is just beginning its journey towards accelerated growth. We have some of the fastest growing economies on earth.
Imagine what the continent can transform into once we see things like stronger infrastructure, increased trade between African countries, and a growing middle class. The beauty of insurance is that the industry plays a part in all of that. We insure construction projects, cargo, and the assets of individuals. We can also become a global leader through innovation. Look at what has been done with mobile money in Africa.
Here in Somaliland for example, I do not carry a wallet. Virtually every transaction I make is on my mobile phone. So it just shows you that innovation can come from Africa and that the continent can be a model of success if we put in place measures that encourage entrepreneurship, innovation, and good governance.
Alaba: How do you feel as an African entrepreneur?
Adan: It feels exciting and rewarding. I’m proud that we have been able to create employment, particularly for young people who have graduated without access to quality jobs. It may sound cliché to say, but I really do believe that Africa’s time is now. We all have something to contribute, an area of expertise, a passion. I believe we owe it to ourselves to build this continent into something incredible. When the movie Black Panther came out, it created a lot of emotion in people because here was Africa essentially being portrayed as the most advanced place in the world by far, and it made people proud. There’s no reason why that cannot become a reality.
Africans are excelling in every single field imaginable and at the highest levels. Not to mention the brilliance of youth that who if given an opportunity could reach unimaginable heights. I’d encourage people to consider entrepreneurship, particularly if you feel that you are only operating at a fraction of your true potential.
Alaba: What is your advice for African entrepreneurs and investors?
Adan: What I’m learning is that to be successful, no matter what your definition is of success, you have to win the battle against your own mind. You will experience rejection, people will tell you that what you’re doing will never work; they may even try to bring you down. These will be the same people who will chase after you during the good times. So your vision has to be strong in your mind, you have to see exactly where you will be and believe it.
That is what will help you get through the daily roller coaster ride that is entrepreneurship. You also have to be willing to take calculated risks and be patient enough to see things through.
Alaba: How do you relax and what books do you read?
Adan: I exercise at least 5 days a week, I find it energizing but also a time where I can decompress. I also practice visualization; I often have my vision board next to me on my desk. I try to read one book a month, typically a different genre each time. I’m currently reading “Connectivity” by Parag Khanna which explores how political borders become less relevant as the world is becoming more connected.
Alaba: Teach us one word in your local language. What is your favourite local dish and holiday spot within Africa?
Adan: The word for “car” in Somali is “gaari”. It comes from the Hindi language, and it’s actually the same word in Swahili. It’s an illustration as to how the historical Red Sea and Indian Ocean trading routes had an influence on language and culture.
My favorite local dish is “sabaayad”, similar to chapatti, golden brown, flaky, and typically served with a goat stew or can be eaten alone with some honey and tea. Not the best for the waistline, but great for the soul.
I enjoy visiting Malindi, a beach town along the Kenyan coast. A destination that I have not yet visited but would love to is Mauritius.
B I O G R A P H Y
Adan Abbey is Co-Founder and President of Horn of Africa Insurance headquartered in Hargeisa, Somaliland. The company offers Auto, Property, Medical, and Marine Cargo coverage in Somaliland & Somalia. Adanbegan his career at Liberty Mutual Insurance in Boston, where he served as a Senior Financial Analyst in the Personal Markets Division as well as with Liberty International Underwriters (LIU), Liberty’s multi-billion dollar specialty lines division reporting directly to the Chief Financial Officer. His experience includes managing large insurance portfolios, accounting, developing risk mitigation measures, and corporate strategy.
Mr. Abbey also has experience in the Pharmaceutical & Nutrition industries. At Abbott Laboratories, he served as an Associate Brand Manager, responsible for the $100MM+ Glucerna brand in the United States. This included managing multi-million dollar marketing budgets and executing strategies that increased revenue and brand equity.
Adan holds a Bachelor’s Degree in Finance from the University of Connecticut and MBA in Marketing & Management from the Kelley School of Business at Indiana University.
Meet Sivi Malukisa, The Congolese Entrepreneur Whose Food Startup Is Promoting DRC Cuisine
MANITECH CONGO is n agribusiness company producing natural fresh jams, jellies, peanut butter, sauces and flour. A 100% Congolese products, sourced from Congolese farmers and transformed by Congolese workers. Inspired and headed by Sivi Malukisa Diawete, born and raised in the small city of Kisangani, north of Kinshasa Democratic Republic of Congo (DRC). After completing high school, she was accepted to UNIKIN (University of Kinshasa) where she obtained her Bachelors degree in Biotechnology.
In 2016, Sivi made the decision to leave the corporate world with experience in Human Resources and rose to the top of the ladder in her career as HR Director with top multinationals in DRC like DHL, Vodacom and MIH so she could follow her passion to empower the local economy by founding MANITECH. In this interview with Alaba Ayinuola, Sivi shared her views on entrepreneurship, the role of government, how her company is promoting and modernizing DRC traditional cuisine. Excerpt.
Alaba: Tell us about your brand, MANITECH Congo and the gap its filling?
Sivi: MANITECH is the products line powered by MANITECH CONGO, our company. We are in the food industry and produce 100% Congolese products, sourced from Congolese farmers and transformed by Congolese workers. We want to be a 100% Congolese food processing company. Our products lines are jam with tropical and local fruits, traditional peanuts butters and Congolese cuisine’s sauces.
In DRC, our local food is not yet transformed in modern way. We want to offer traditional food modernized.
Alaba: What was your startup capital and how were you able to raise it?
Sivi: I didn’t have a chance to raise any capital. I worked on my own from scratch. I had only 300 USD in hands when I started and slowly I built my company brick after brick.
Alaba: How are you different from other brands in terms of your unique selling point?
Sivi: Our uniqueness is the fact that we offer traditional food in modern manner. For local market, the innovation is in term of the packaging that we offer. For external market, it is the content which is the innovation. At the end of the day, our customers are happy both with the content and the packaging.
Alaba: What are the challenges, competition and how are you overcoming them?
Sivi: The biggest challenge is environmental; the business climate is very tough here in DRC, and for small business, it is even worse. Aside the environmental issues, we also face infrastructural, electricity and water challenges. Add on to that is importation; people are used to imported products and it is not easy to convince them that local is also good and even much better. This is because buying local reinforce local economy.
Finally, we have difficulties in packaging. For all these issues, we have decided to advocate, showcase, promote values of local companies, etc. And we import packaging, sadly I will say.
Alaba: What’s the future for your business and what steps are you taking in achieving them?
Sivi: Our next step is building a 10 times bigger factory. I’m focus on my objectives and embracing opportunities. It is a learning process, a journey from A to C and as one of my mentors says, “I trust the process, I’m going my way.”
Alaba: What are the challenges facing entrepreneurs in Congo, today? What crucial role can the government play?
Sivi: Hmm, this is a difficult one. Let say it this way: if you succeed as entrepreneur in DRC, you can make it in any part of the world. Any challenge you name, we face it here. Get the picture, no fund system to boost start ups, no water, no electricity, very expensive internet and bad network, no proper road, one of the countries with the high cost of clearing imported goods, difficulty to find good employee due to lack of proper education, high taxes, one of the highest rate of corruption, no justice, etc.
I don’t want to give a bad image of my country but unfortunately this is the environment in which we as entrepreneur, are supposed to strive and develop.
Alaba: How do you feel as an African entrepreneur?
Sivi: Proud. Africa is a giant who is awaking now. We see every where entrepreneurs, innovations, excellence. Africa is better than ever and I’m happy to witness this and to be part of this shift. In few years, AFRICA will be the place to be for any business in the world.
Alaba: What’s your advice for entrepreneurs and investors in Congo?
Sivi: Let do it. It is not easy, but we can make it easier. There are opportunities everywhere; the country needs some courageous people ready to take up the challenge. We are the disruptive generation and believe me; future generations will thank us for this. This is the perfect time to change things around and we have everything we need to do it.
Alaba: What inspires you and keeps you going?
Sivi: My country, my flag, my people, my children. Our country is one of the biggest in Africa, with so much wealth. Yet, my people are poor because we don’t use our resources properly. To be an active actor of change in my country is the best legacy I can give to my children.
Alaba: How do you relax and what books do you read?
Sivi: I take 30 mins off for meditation and 20 mins to exercise daily, and I play with my kids. Most of the time I read novels or I take courses on finance, leadership, marketing, etc.
Alaba: Teach us one word in your local language.
Sivi: FIMBU which means WHIP. A lingala word that Congolese use for victory. We use it in competitions such as football to mean that we are champions. We dance it, and shout it. We gave this word a national meaning and it is associated to the leopard, the DRC’s totem animal.
Alaba: What’s your favourite local dish and holiday spot in Africa?
Sivi: My local dish, definitely is FUMBWA. I don’t know the name in English. But it is a forest leave that we cook with smoked fish and peanut butter and we eat it with FUFU (cassava pap). My grandma use to make the best fumbwa in the world. And this is my inspiration for our MANITECH peanut butter. My favorite holiday spot is Cape Town, South Africa. I love to sit in front of the sea and just listen to the sound of the wave, some time you see whales or dolphins. It is amazing.
B I O G R A P H Y
Sivi Malukisa Diawete grew up in the small city of Kisangani, north of Kinshasa Democratic Republic of Congo (DRC). After completing high school, she was accepted to UNIKIN (University of Kinshasa) where she obtained her Bachelors degree in Biotechnology.
Shortly after graduating Sivi was offered a position as the Head of Human Resources with DHL in DRC and Republic of Congo. Her work with DHL created opportunities for advancement in the discipline of HR with companies such as Vodacom and MIH where she was promoted to HR Business Partner than HR Director.
In 2016 Sivi made the decision to leave the corporate world so she could follow her passion to empower the local economy by founding MANITECH, an agribusiness company producing natural fresh jams, jellies, peanut butter, sauces and flour.
After 4 years of hard work and dedication, MANITECH started to grow significantly, which allow her to get national and regional recognition. She was nominated Entrepreneur of the year in DRC by the prestigious MAKUTANO Network, she was featured in Forbes Afrique Magasine (septembre-octobre 2018) and was ranked among the 50 most influential under 40 Congolese’s people by the magazine KivuZik, she was also named ambassador for the Tony Elumelu Foundation.
Recently, she extended her investments in new companies such as DRC Paint, a paint factory; DRC Constructs, a construction service company; and some other investments.
As a leader in the community, Sivi founded the MADE IN 243 association to bring together the resources and expertise of the owners and executives of local Congolese industries. She also Co-Founded ACPRH, the largest HR Association in DRC in which she is the vice president.
Visit MANITECH CONGO
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