Connect with us

Brand Voice

Banking On The Financial Freedom Of African Women

mm

Published

on

4G Capital’s Chief of Staff, Genevieve Hennessy-Barrett discusses how inclusion, female mentorship and shared knowledge can cross borders and heal Africa’s displaced and most vulnerable women.


Access to financial services and the freedom to open a bank account remains unattainable for many women around the world, and even more so in frontier markets. 

Some progress has been made; the number of bank accounts owned by women now equals men in South Africa.  But, elsewhere on our continent, the situation is not so encouraging.  According to a 2017 Global Findex report, the gender gap remains, on average, just over 9% across Sub-Saharan Africa, unchanged since 2011.  

We are all too familiar with the numerous reasons why women all over the world find it difficult to gain financial independence.  In ‘emerging’ markets there exists an even greater lack of opportunity in terms of education and work, and in some cases a cultural expectation that can prevent women from investing in their own future. 

But no matter the challenge, women have always adapted and overcome through the creation of their own opportunities, and have worked together to protect and support their families and communities.

Female entrepreneurs make significant contributions to local and national economies. The SME Finance Forum’s research indicates that almost one third of the world’s small businesses are owned by women and account for 32% of the micro, small and medium enterprises (MSME)  finance gap, estimated to be worth be $5.2 trillion.

4G Capital’s Chief of Staff, Genevieve Hennessy-Barrett. Picture: Supplied

Lack of collateral, official identification and correct paperwork, are the primary reasons for financial exclusion.  Access to credit is often extremely difficult for MSMEs, and even more so for small businesses owned by women who are often given less favourable terms than their male peers. 

As a fintech credit company working with MSMEs who are typically excluded from traditional financial institutions, 4G Capital has sought to bridge not only the finance gap, but also address the gap in financial literacy.  By combining these offerings we can alleviate poverty sustainably and unlock vital human potential.  We are on target to positively impact more than 1 million people by 2020. 

We believe it is our blend of finance and education delivered via ‘touch-tech’ that is responsible for our appeal to many female business owners. Although we did not focus our marketing strategy on gender, 81% of our customers are female. 

We are able to support their development through a bespoke programme of business training to help them use our micro-loans to achieve much higher take-home earnings.  

According to recent research by one of our partners, Technoserve, this combination of training combined with working capital credit resulted in an 82% increase in revenue year-on-year.

But imagine the challenges faced by women who have had to flee their own countries, seeking refuge and safety for themselves and often for their children. Determined to build a sustainable future, their plight has gained the attention of RefuSHE, a charity set to provide support to refugee women in Kenya.

4G Capital has initiated a program to deliver business training and mentorship to RefuSHE’s Girls’ Empowerment Project (GEP), designed to give access to education and livelihood opportunities, while learning about human rights and cultivating leadership skills.

We kick started this partnership by welcoming the girls at one of our 4G Capital branches.  They were given training on basic business principles such as book keeping and responsible management of business credit.

Based on what they learnt, RefuSHE’s girls have now taken part in our Business Plan Competition.  

Successful participants have been taken forward to internships and matched with successful female entrepreneurs who are customers of 4G Capital.  

They will be supported, mentored and trained. The hope is that with this initiative, these girls who were once so vulnerable will now gain the necessary skills to run a successful business, be part of a community and build a new life.

As we celebrate International Women’s Day, we’d like to honour all the women of Africa striving to build a future for themselves and their communities by saluting their determination, knowledge, wisdom, humour and humanity in the face of the challenges which affect us all.

Continue Reading
Advertisement
Comments

Brand Voice

Nigeria’s Manufacturing Power Couple On The Future Of Manufacturing In Nigeria

mm

Published

on

Chief Razak Okoya: Chairman Eleganza Group And Rao Property Investment Company

Chief Razak Okoya is an industrialist who has managed to transform a small trading company into one of the largest conglomerates and indigenous manufacturers of household products in Nigeria.

As founder of Eleganza Group and leading property investment company RAO Property, he employs about 5000 people across Nigeria. In his interview with Forbes Africa, he discusses the trends that will influence the competitive Nigerian Manufacturing sector in the next decade.

Chief Folashade Noimat Okoya: Managing Director, Eleganza Industrial City

Chief Mrs. Folashade Okoya has been at the helm of affairs of the Eleganza Group and RAO Property Investment for the past decade using her strong entrepreneurial drive to further strengthen the goodwill of both organizations and its corporate positioning in Nigeria.

Under her watch, Eleganza Group has risen to new heights strengthening its position as a leading indigenous brand in Nigeria as well as one of the benchmark manufacturing companies in the country.

She talks about the stigma of women in manufacturing and the need for greater automation in the manufacturing process in Nigeria.

READ FULL SUPPLEMENT

Continue Reading

Brand Voice

Nigeria’s Biggest Corporations: A Pan-Nigerian View To The World

mm

Published

on

By

At the beginning of the Japanese Economic Miracle, were the likes of
Akio Morita – Co-founder of Sony. In setting a Mission for Sony, Morita had
resolved to set for Sony Corporations the Mission to make Japan known for quality at a time the country was known for cheap-copycat product. It is indeed in this vision, that True Nigerian Experience was founded with a mission to showcase the Best of Nigeria.

According to the International Monetary Fund in 2018, Nigeria is regarded as the biggest economy in Africa with a Gross Domestic Product of about $400 Billion Dollars – Leading the entire 54 African Economies both in Population of over 180 Million people and GDP.

The Nigerian Economy is ranked the 30th largest Economy in the World. To mention a few, Nigeria’s Nominal GDP is bigger than the Republic of Ireland (US $373 Billion), Israel (US $370 Billion), Hong Kong (US $363 Billion), Singapore (US $361 Billion), Malaysia (US $354 Billion), Denmark (US $351 Billion), Colombia (US $333 Billion), Philippines (US $331 Billion), Chile (US $298 Billion), Finland (US $275 Billion), Czech Republic (US $242 Billion), Romania (US $ 240 Billion), Portugal (US $239 Billion, Peru (US $225 Billion), Greece (US $219 Billion), New Zealand (US $203 Billion) and over a hundred other countries’ economies in the World.

READ FULL SUPPLEMENT

Continue Reading

Brand Voice

Franchise’s newest target: the flexible workspace revolution

In the midst of what many are calling the flexible workspace revolution, franchisees are looking towards the serviced office market for lucrative new opportunities.

mm

Published

on

By

In the midst of what many are calling the flexible workspace revolution, franchisees are looking towards the serviced office market for lucrative new opportunities. Projections show that three in ten buildings on every high street could offer a new franchise opportunity, with flexible working, or coworking as it’s often called, emerging as a booming industry.

A booming industry
With businesses and individuals increasingly using flexible working spaces, the co-working industry is estimated to be growing by 24% each year. A recent study of 18,000 business leaders in 96 countries by IWG, the parent company of leading workspace providers including Regus and Spaces, revealed that the majority of business leaders (89%) believe flexible working is helping their businesses to grow and stay competitive. In addition, 80% felt that adopting co-working, and enabling their employees to work anywhere, has helped them recruit and retain top talent.

Likewise, with a huge 50% of workers predicted to be working remotely for most of their working week, by 2022, forecasts suggest that the global mobile workforce will reach 1.87 billion people. This presents a unique opportunity for those in the franchise industry to jump on what is a rapidly growing trend.


Partnering with IWG gives business owners the ability to participate in this growth story and take advantage of the huge demand for flexible, contemporary workspaces – one of the most exciting growth markets in the country.

Mo Nanabhay, Franchising Director – Africa


As more people look to work flexibly, the demand for places for them to do so is growing; and as the corporate real estate market continues to grow, global real estate giant JLL estimates that up to 30% of corporate real estate could be flexible workspace by 2030.

The growing franchise opportunity
This makes the serviced office market one of the most exciting growth markets in the world. Simply put, it is the next franchise frontier. And the industry founder, IWG, with its thirty years of experience in the, serviced office market and brands to match every requirement and style like Regus and Spaces, is now offering people a chance to get involved.
In September 2018, the company announced they would be leading the UK’s first serviced office franchise partnership with franchising experts, ACCA Office Ltd. Since then, four more businesses have partnered with IWG, including Kash Office Limited, AMA Workspaces, SME Properties Limited, and Q-Boid Limited. These franchise partnerships will see sites opened across the country over the next couple of years. In Asia, the company has agreed to sell its Japanese business to Tokyo-based TKP Corporation for the whole of Japan.


IWG is present in almost 3,300 locations, 120 countries and 1,100 town and cities across the world – and it’s this experience that makes IWG the ideal franchise partner for those wanting to take advantage of the booming demand for serviced offices worldwide.

“Our years of experience in the industry and our well-established global network has taught us that building a quality flexible workspace offering requires trust and support. We work closely with our franchisees to ensure that they have a framework to find the right location and design, backed by the strength of our operational and marketing support and the best customer service that IWG is known for.”

Mo Nanabhay, Franchising Director – Africa

To find out how you can take advantage of the workspace revolution, contact IWG’s franchise team via [email protected] or visit franchise.iwgplc.com.

Continue Reading

Trending