Bank of Industry Launches N1billion SME Fashion Fund for Women Entrepreneurs to Boost Production of Made-in-Nigeria items

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As a Business Development Service Provider to Bank of Industry, W-HBS is all set to work with Nigerian designers seeking funds for expansion through the recently launched the N1 Billion Fashion Fund to support women-owned Small and Medium Enterprises (SMEs). The Fashion Fund joins two other SME funds (the N5 Billion Cottage Agro Processing Fund and the N1 Billion Nolly Fund) by BOI and offered as part of our FINANCE solution for SMEs. 

 

W-HBS CEO Serves As A Judge At The Global Student Entrepreneur Awards (GSEA)

EOPix   EO Nigeria GSEA 2015 featured 50 candidates from across Nigeria. 15 contestants emerged and contested at the national finals where they presented their business models and plans to a 16-man panel of judges made up of global EO officials, Lagos and Abuja Chapters officials as well as respected entrepreneurs like our CEO, Olanrewaju Oniyitan. The Entrepreneurs' Organization (EO), a global network of more than 10,200 business owners in 42 countries with a combined US$565 billion in annual revenue, converged on country as its local chapter organized the EO’s prized learning session and Global Student Entrepreneur Awards (GSEA) national finals. Since its establishment in 1987, fostering leadership has been one of EO's critical offerings, which has enabled the organization to aggressively expand its global impact and influence. EO GSEA is the premier global competition for high school, undergraduate and graduate students who own and operate businesses. Nominees compete against their peers from around the world for the chance to win capital and in-kind prizes from sponsor organisations. EO GSEA supports student entrepreneurs through mentorship, recognition and connections to take their businesses to the next level of success.  

The Metro Brand – Changing The Face Of Transportation

Metro Bus Metro Bus, sister company to our client Metro Taxi and subsidary of Philly and Mools Group has just launched 100 Air Conditioned buses to run designated routes in the Lagos Metropolis. Metro Bus plans to steadily increase the fleet to 1800 buses, serving a total of 47 routes across the state. At W-HBS, we hope to see more extensions of the Metro brand and a total change of the face of transportation in Lagos State resulting to the launch of Metro Ferry, Metro Rail and Metro Air.  

SMEs: The Solution To Unemployment In Nigeria

Youths In Search Of A Decent Job With Nigerian Immigration Service (NIS) At The National Stadium, Surulere, Lagos

  FACT: “Unemployment rate is 24% with youth unemployment accounting for 38% of total unemployment.”   MYTH“We have about 17 million registered SMEs, and they employ over 32 million Nigerians.”   Background NOIPolls has been evaluating opinions of Nigerians on the most important issues that need to be addressed. In the last eight polls over the seven-year period, the results have revealed the top issue for policy focus to be “Job Creation. This cannot be overemphasized especially with the unfortunate deaths of about 7 - 18 youths nationwide (actual number to be confirmed) in search for a decent job at the Nigerian Immigration Service (NIS) on Saturday 15 March 2014. It was estimated that at least 520,000 youths registered with N1,000 application fee with the hope of getting a position out of the about 5,000 job openings declared by NIS. In all of this, the International Monetary Fund (IMF) is predicting Nigeria’s Gross Domestic Product (GDP) to grow at 7.3% this year while inflation will continue its downward path to 7%? Why is job creation still an issue? The answer: Headline economic growth is not enough. Inclusive growth that meets the expectations of citizens (at all levels) is needed more than ever before. From experience, the only way to achieve job creation and inclusive growth is by tapping into the many innovations of the private sector, particularly Small and Medium Enterprises (SMEs). An army of about 50 million SMEs creating about 500 million jobs between 1980 and 2012 led the Chinese economic miracle. However, against international best practices Nigeria is rated poorly. For Nigeria to sustainably create jobs and forge inclusive growth, the solution is the robust growth and scaling of SMEs. I am burdened when we I read or hear quotes about SMEs from both public and private authorities - “We have about 17 million registered SMEs, and they employ over 32 million Nigerians.”  This is a myth and the following data proves this.  

SMEs At The Heart Of Inclusive Growth and Job Creation

channels logoNigeria has been selected to host the 24th edition of the World Economic Forum on Africa (WEF) between 7 – 9 May 2014 in Abuja with the theme – Forging Inclusive Growth, Creating Jobs We need economic growth to pay for the things we need in life – education, health, housing, roads. But how to ensure that growth benefits everyone, without further widening inequality and exclusion? Headline economic growth is not enough. Deliberate policies to reduce inequalities and promote inclusion are now needed more than ever before. Inclusive Growth refers both to the pace and pattern of growth, which are interlinked and must be addressed together. Rapid pace of growth is unquestionably necessary for substantial poverty reduction, but for this growth to be sustainable in the long run, it should be broad-based across sectors, and inclusive of the large part of a country’s labour force.  

New Fund Raising Alternatives For SMEs in Nigeria

The Nigerian Stock Exchange (NSE) recently inaugurated the Alternative Securities Market (ASeM) which is a trading platform for Small & Medium Enterprises (SMEs) in Nigeria to trade their equities on the NSE. Modelled along the Johannesburg Stock Exchange - AltX, the ASeM is a specialised board that will accommodate small and mid-sized companies with high growth potential seeking to access the capital market. The ASeM seeks to address major challenges of emerging businesses in Nigeria, which included, difficulty in accessing long term capital due to high cost of funds as a result of perceived high risk, informal nature of operations and inadequate accounting standards, controls and management of resources.  

Metro Taxi Features On Africa Report TV

Africa Report TV was started in 2009 by the MBDF (Media for Business Development Foundation) in South Africa. Now into its sixth series, the TV program inspires the audience with success stories of African entrepreneurs. The series guides viewers to EmergingStars.com where they can connect with investors, financial institutions, entrepreneurs and business schools from around the continent.  

Philly and Mools Bags Excellence Award

Our client, Philly and Mools Automobile, a subsidiary of Philly and Mools Group has been awarded a merit award by Vconnect Services Limited as the Best Business of the Month (December 2012) in Auto Dealers Category in Lagos State.  

W-HBS Chairman Tackles The Pharmaceutical Industry Challenges

The Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMG-MAN) recently kicked against plans by the Federal Government to import anti-retroviral drugs worth over N1 billion. Chairman of the PMG-MAN, Bunmi Olaopa, and the body’s Executive Secretary, Olakunle Okelola in a report they made available to newsmen in Lagos, lamented that Nigerian pharmaceutical manufacturers had the capacity to produce such drugs - ampicillin capsules/powder; amoxillin capsules/powder; clorpheniramine tablets/syrup; abscorbic acid/syrup; tetracyline capsules; ibuprofen tablet/syrup; dextrose, etc.  

Okhma Global Premiers Movies In Style

Our client, Okhma Global brings a fresh and innovative approach to Marketing Consulting Services, Film/movie Distribution, Entertainment Publications, homes and lifestyle. At W-Holistic Business Solutions, we are proud of Okhma's unique premiers of the following movies: