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ViMP 2019 Edition: Junior Achievement Nigeria Hosts 50 Youth



The Venture in Management Program (ViMP) is a mini-MBA program organized by Junior Achievement Nigeria (JA Nigeria), sponsored by African Capital Alliance Foundation, (ACA Foundation) and supported by the Lagos Business School (LBS) and Accenture Nigeria. ViMP participants are pooled from active or recently finished members of the National Youth Service Corps. Applicants go through a rigorous selection process, ensuring that only the most outstanding candidates are admitted into the program.

ViMP is a one-week residential program at LBS and participants are instructed in various modules covering Strategy, Business Management, Finance, Corporate Governance, Ethics, Leadership as well as MBA-modeled business cases. These lessons prepare participants to become ethical business leaders who will successfully run their own businesses or manage already established businesses and social enterprises.

This year’s program ran from February 11 through February 15.

Day 1 began with a tour and brief history of LBS, before the participants settled down for lectures on ‘How To Deliver Effective Presentations’ and ‘Building Your Leadership Potential’ both delivered by LBS faculty members, Lucille Ossai and Dr. Akin Oparison. Later in the evening, Toyin Odulate, CEO/Founder of Olori Cosmetics, spent some time with the #ViMP2019 cohorts, sharing her career journey and practical steps she took to build her business. She laid emphasis on networking, investing, and continuous learning.


ViMP 2019 participants pictured with Managing Director, Accenture and Chairman, JA Nigeria Board, Mr. Niyi Yusuf, Executive Director, JA Nigeria, Simi Nwogugu, Director of MBA Programs LBS, Dr. Uchenna Uzo, and JAN staff.

Day 2 began with a session on “Analysis of Business Problems” facilitated by Yetunde Anibaba, Management Educator & Consultant at Lagos Business School. The rest of the day was spent in class receiving lessons on Finance and Entrepreneurship as taught by LBS faculty members – Kayode Omoregie and Dr. Henrietta Onwuegbuzie. Participants were charged to be impact-driven while creating wealth from solving problems.

On Day 3, Niyi Yusuf, Managing Director of Accenture and Chairman of JA Nigeria Board met with the participants at LBS. Simi Nwogugu, Executive Director, JA Nigeria, also spent some time with the 2019 cohorts where she spoke to them about volunteering and social impact. Later that evening, participants convened at the Maison Fahrenheit Hotel, Lagos, where they got a chance to network with ViMP alumni, program sponsors, JAN board members and staff as well as local media correspondents.

MD, Accenture & Chairman, JA Nigeria Board Niyi Yusuf, speaking to participants at the Lagos Business School

ED, JA Nigeria, Simi Nwogugu speaking to participants at the Lagos Business School.

ED, JA Nigeria, Simi Nwogugu and Managing Director, Sigma Pensions, Dave Uduanu, pictured with ViMP Alumni, set of 2000-2012.

Members of staff, JA Nigeria at the Alumni Mixer

On Day 4, participants took part in an entrepreneurship contest during which five teams presented business plans for their products and services. The entries were judged by Vincent Egbe, Managing Director of GB Foods & ViMP Alumnus, set of 2003, Glory Enyinnaya, an International Business Consultant, and Kolawole Akinboye, Vice President, Projects, Rensource Energy. After all presentations were made, winners of the competition were rewarded for their innovation and enterprise.

Also Read: The power of rejection | Zoussi Ley

On Day 5, to round up the week long program, Kikelomo Longe, Council Member, ACA Foundation, delivered a powerful graduation lecture during which she encouraged participants to dream big, embrace obstacles and strive to overcome them. Thereafter, the most outstanding male and female participants were recognized and awarded. Franklin Nwachukwu, a Nutrition Biochemist and graduate of University of Ibadan and Ruby Igwe, a Lawyer and graduate of University of Kent won this recognition for their participation and contribution to in-class activities. Dr. Uchenna Uzo of Lagos Business School and Simi Nwogugu, ED of JA Nigeria gave the vote of thanks, charging participants to take all the knowledge gotten from the week and make good use of them. At the end of the day, participants were each presented with their certificates of program completion.

(L-R): Wendy Emesie, External Relations, African Capital Alliance, Dr. Uchenna Uzo, Director MBA Programs, LBS, Franklin Nwachukwu, Most Outstanding Male Participant, Ruby Igwe, Most Outstanding Female Participant, and Kikelomo Longe, Council Member, African Capital Alliance.

It was indeed a rewarding experience for the participants, who kept coming back to JA Nigeria with their testimonials. One of the participants, Doyinsola Ogunbiyi said, “One week of intensive mind-stimulating and refreshing training, and the lives of 52 participants have been greatly impacted for disruptive change in the economy and the world as a whole. Thank you JA Nigeria, ACA Foundation, Lagos Business School, and Accenture for this too-good-to-be-true experience!”

Some ViMP 2019 Participants at the Alumni Mixer.

Managing Director, Sigma Pensions Limited, Dave Uduanu, giving the Welcome Address at the Alumni Mixer.


(L-R): Nike Adeyemi, Executive Director, Fate Foundation and Olatoyosi Adekoya, Senior Vice President, Human Resources, African Finance Corporation (Both ViMP Alumni, set of 2002, addressing attendees at the Alumni Mixer).

(L-R): Yemisi Akinbo, Vice President, African Capital Alliance (also ViMP Alumna, set of 2000), Simi Nwogugu, Executive Director, JA Nigeria, and Kikelomo Longe, Council Member, African Capital Alliance pictured together at the Alumni Mixer.

We look forward to ViMP 2020 and invite potential participants to visit our website at and follow us on social media for more details in the coming months.

We appreciate our sponsors and supporters: – Africa Capital Alliance Foundation; Lagos Business School and Accenture Plc. as well as our media partners: – Channels TV, BellaNaija, BusinessDay and Business Africa Online

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.

To support the work we do, please visit our website at for more details on how to get involved.

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aYo Holdings, African micro-insurer breaks 10 million mark; eyes further growth



aYo Holdings CEO Marius Botha (Source: aYo)

African micro-insurance fintech aYo Holdings, a joint venture between telecommunications giant MTN and financial services group Momentum Metropolitan Holdings (MMH), has broken through the 10 million customer mark in under four years after starting operations – and new CEO Marius Botha says the milestone is set to trigger a period of further growth.

aYo launched in Uganda in January 2017, and has since started operations in Ghana and Zambia with plans to expand into Côte d’Ivoire and Nigeria in the new year. aYo provides fast, convenient, easy to use hospital and life cover directly to a user’s mobile phone, and has already paid in excess of $1 million in claims.

This rapid expansion has seen the company evolve into a major player in the African micro-insurance market, effectively by adopting a ‘pay as you go’ insurance model, where its policyholders have the flexibility that allows them to have the cover they need at any given time.

Botha says while there has always been a ‘definite demand’ from African consumers, the challenge was being able to find the right technology and mechanism to deliver what is essentially a high-volume, low-margin product, where not all clients are paying or active at any given time, but buy cover as and when they need it.

“The partnership with MTN has really been the key that unlocked the ability to deliver this product. As a result, millions of Africans have access to and are engaging with life insurance for the first time – and we cannot underestimate what this means to them in terms of driving financial inclusion,” said Botha.

While mobile networks provide the ideal delivery mechanism for the spread of micro-insurance across the continent, Botha says the company’s growth has also depended on understanding the nuances of each market, and creating products that cater for the specific needs of the target market.

“The big thing about micro-insurance is that it protects those who need it the most. People with low income need insurance even more than those with higher incomes, because they are more vulnerable and have a smaller cushion of resources to draw upon in times of need,” said Botha.

Many clients use the payouts from their aYo policies to not only pay for their hospital bills, but use the balance to buy food or schoolbooks, so they can send their children back to school. One client’s glasses were damaged in an accident, leaving him incapacitated and unable to work, as he is legally blind. His cover paid his hospital bill and allowed him to buy new glasses, which allowed him to continue providing for his family.

“There’s no doubt that the impact of micro-insurance is transformative, as it shields millions of Africans from the economic shocks that would otherwise keep them locked into an endless cycle of poverty,” said Botha.


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Thabo Mashegoane Appointed As Chairman of the Africa ICT Alliance (AfICTA)



Thabo Mashegoane

The President and Board Chairperson of the Institute of Information Technology Professionals South Africa (IITPSA), Thabo Mashegoane, has been elected as Chairman of the Africa ICT Alliance (AfICTA).

Formerly the Vice-Chairman of AfICTA, he succeeds Engr. Hossam Elgamal from Egypt to become the third Chairman. AfICTA, a private sector-led alliance of ICT Associations, multinational corporations, companies, organisations and individuals in the ICT sector in Africa, aims to fulfil the promise of the digital age for everyone in Africa by encouraging dialogue and fostering ICT enabled development.

During an electronic election at the AfICTA Annual General Meeting on 25 November, Mashegoane was elected chair, while IITPSA Past President and Non-Executive Director Ulandi Exner was also elected AfICTA Vice-Chair for Southern Africa.

The election named the following board members and officers: Paul Rowney, Deputy Chair; Opeyemi Onifade, Treasurer; Dr. Waudo Siganga, Vice-Chair for East Africa; Engr. Assem Wahby, Vice-Chair, North Africa; Adetola Sogbesan, Vice-Chair, West Africa; and Eric Sindeu, Vice-Chair, Central Africa.  

Thanking his predecessors for their service and leadership in the Alliance to date, Mashegoane noted that AfICTA was an organisation with a vast network, impact on critical policies, and reputation that took years and hard work to build. “Mine is to take the baton and continue where the honourable Engr. Hossam Elgamal has taken this organisation to. Of importance is the platform to enable African countries to collaborate and share best practices and lessons learnt with an objective of not leaving anyone behind in development. This is a vision we will continue to uphold. We stand in a critical position to influence attainment of Sustainable Development Goals 2030 through ICT.”


Speaking after the election, Mashegoane said digital inclusion and ICT-enabled development was also a key mission for the IITPSA in South Africa.  “The IITPSA shares the vision and ethos of AfICTA. IITPSA has also stated that we need to step up efforts to achieve the goals of the 2030 Agenda for Sustainable Development, which, among other things, seeks to bridge the digital divide and harness technology to address major global challenges such as poverty, climate change and conflict, we need to work harder. At IITPSA, we believe this means we have to collaborate across industries, across countries, to deploy the benefits of ICTs for the good of all,” he said.

Africa ICT Alliance

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Baller Syndicate: Building Europe’s First Elite Athlete Angel Syndicate And Exploring Africa



Baller Syndate Founders – Koen Bosma (r) and Jason Esseboom (l) (Source: Baller Syndicate)

Baller Syndicate is an exclusive network of elite athletes that are looking to get into tech investing. An initiative by Koen Bosma and Jason Esseboom, two former athletes who were better at startups than playing football. They played together in a youth academy, and Koen even turned pro. The founders crossed paths again in the world of startups and innovation. Koen and Jason share a passion for sports, entrepreneurship, and investments. In this interview with Alaba Ayinuola of Business Africa Online, they talked about how they are positioning elite athletes to become successful tech investors, through their educational like-minded community and building bridges between Europe and Africa.

Over the past few years, they have worked with hundreds of startups and invested in 20+. Most of those startups are trying to break into the sports-, health-, and entertainment industry. During this time, Koen and Jason had the privilege of working closely with founders, which gave them great insights and a first-row seat to startups’ biggest pain point.

Startups in the sports-, health, and entertainment industries have a disproportionate mismatch with angels that can truly accelerate their journey, compared to startups in other industries.

When Koen and Jason looked closely, they spotted a trend in the USA of elite athletes making tech investments cool and accessible to the world. Athletes like Lebron James, Kevin Durant, and Serena Williams are building their own family offices, venture funds, becoming LP’s or making direct or syndicated angel investments. So they asked themselves the question: why is this not happening in the rest of the world?

This led to starting Baller Syndicate.

Alaba: So what does Baller Syndicate do?

Koen: Our vision is to unlock athletes’ capabilities as accelerators for the growth of startups. When we started having conversations with active-, and retired athletes about their post-career activities, we truly learned a lot. Simply mentioning the term “investment” to an athlete in Europe turns all signals to red and makes their alarm bells go off! We could hear them thinking: “are these guys trying to take my money!?.

The interesting thing, however, was that when we took the conversations a layer deeper, we learned athletes get approached for investment opportunities quite regularly, but always ‘through a guy.’ When athletes don’t fully understand the concept, the default is to rely on someone they trust.”

We learned that athletes “solve” their lack of knowledge about investment opportunities by putting their trust in a person they know well.

Baller Syndicate’s goal is to decrease the knowledge gap by educating athletes with understandable content. Education is liberation, and that’s how they will help athletes change the narrative!

Alaba: Tell me, how does your education work with the tight schedules athletes have?

Jason: Overall, our education consists of two parts. We noticed that there is so much good content out there, but navigating it can be challenging or even overwhelming. Our vision towards education is to aggregate the most relevant content and translate it into a language athletes understand. We don’t see ourselves as professors but as translators.

Our first approach is to make an online course with actionable and engaging videos. This is the theoretical part. For the second part, we interview athletes that are active as investors or entrepreneurs to provide valuable case studies. Providing the theory is necessary because if we’d just share case studies, athletes miss foundational knowledge. To make learning fun and engaging, we chose to explain investments through sports analogies, using stories all athletes can relate to. Everything we offer is online, so the athletes determine when and where they want to learn.

Of course, we dream of a big live event where we connect the worlds of startups and athlete investors, but that’s not happening in a world governed by a pandemic.

In our way of working, we are lean startup evangelists at our core. This means we start with something, test it, and adjust based on the feedback. We test our educational program with a small group of selected athletes and truly learn if our translations resonate with them. After testing, we know where we need to improve to move forward and help more athletes.

Regarding the content of our education, we have three principles:

  1. We skip jargon or break it down
  2. We logically structure content, tested by elite athletes
  3. We facilitate group learning through our community

We believe this structure puts athletes at an advantage to learn how they can make independent investment decisions.”

Alaba: How do you make money?

Koen: Right now, we don’t… We invest our time and money to make Baller Syndicate into something valuable for athletes and startups. The sportstech ecosystem really needs to grow, and we believe we need to give first and hopefully get something in return later. Baller Syndicate is our way of building the sportstech ecosystem. Our educational platform will run as a foundation, where athletes pay a small fee as a yearly contribution. Secondly, we are attracting corporate sponsors that have a similar vision as ours, to pitch in a bit.

Baller Syndicate operates as a typical angel syndicate for athletes who have learned they wish to go into tech investments. In a syndicate, athletes pool money and invest together in startups they select themselves. We facilitate athletes by finding the right startups and guiding athletes throughout investing in those startups.

Our business model is based on carried interest, which means we only make a buck when their athletes make profits. But we have some strict “rules” for our members to start with tech investments.

If the athletes don’t know how to activate an investment, there is just waste. So before any tech investment through the Baller Syndicate platform, we ask these five questions below:

  1. Does the startup have something special that fits the profile of our members?
  2. Can we add value beyond money (and the obvious Twitter post)?
  3. Are multiple athletes on board?
  4. Do the interested athletes know they need to create a balanced portfolio of startups and not ‘bet’ on 1 or 2?
  5. Is there a lead investor (in case of large investment rounds)?

There are many other factors to consider, but we ask these vital questions to help elite athletes de-risk their startup investments. Our goal for 2020 is simple: to build our educational content and test it with a selected group of 10 athletes. We are currently primarily working with footballers, but there are also professional golf- and tennis players.


Jason: Building this syndicate is as tough as it gets, but we are up for the challenge. We are motivated to the core to realize our big vision: unlocking athlete potential as accelerators for startups’ growth. We have started exploring athlete investing in Europe, and now we are eager to learn how athletes in other continents are approaching their new career after sports.

Through Baller Syndicate, we are building a diverse community of like-minded athletes. In our community, athletes are diverse in their sport, country, or background. They are alike when it comes to their ambition, mentality, and work ethic. Hopefully, this interview will open the doors for us to get in touch with African athletes and build bridges between Europe and Africa.

Visit Baller Syndicate

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