3 months ago

BusinessDay 06 Mar 2018


16 BUSINESS DAY C002D5556 Tuesday 06 March 2018 COMPANIES & MARKETS BoI disburses N362m to 75 MSMEs in Benue ...grants N1.5bn direct funding to 28 businesses. Business Event HARRISON EDEH, Abuja The Bank of Industry (Bol) has presented N362 million cheque to the first batch of the beneficiaries of the N2billion-Micro Small and Medium Enterprises (MSMEs),development fund in Benue State. Benue State and the Development Finance Institution(DFI) had last year signed a pact on the N2billion matching fund to boost the entrepreneurial potentials of citizens in the state. Under the financing model, both parties gave commitment to contribute N1billion each for on lending to mainly businesses that have high employment generating potentials and value addition to local raw materials. This is even as the bank announced that over 28 other businesses had been granted N1.5billion from its own direct funds. Speaking during the cheque presentation, the Bank’s Managing Director, Olukayode Pitan, said in a statement issued that the 38 loans beneficiaries were those who met the bank’s pre-disbursement conditions. Saying that the matching fund was capable of developing small and medium scale enterprises in the state, Pitan urged other businesses in the state to take advantage of the unique opportunities offered by the scheme. As part of the moves to ensure effective utilization of the loans, the BoI boss added that a two-week entrepreneurship training would be organised to build the capacity of the beneficiaries. He said,”The partnership with the Benue State Government goes beyond providing loans. As part of the package, all beneficiaries will undergo two weeks entrepreneurship training to help their capacity to manage these businesses successfully.” He, however, warned the beneficiaries against deploying the fund to areas not envisaged by the scheme, stressing that,”we like to remind them to take seriously their obligations to repay the loans so that others can benefit. While also giving details on the involvement of the bank in other schemes aimed at developing economic activities in the state, the MD stated that the bank had granted loans of over N1.5 billion to businesses across sectors such as food processing, fruit juice processing, piggery, yam/cassava flour, rice processing, fashion designing, and quarries/solid minerals. According to him, Under the Government Enterprise and Empowerment Programme (GEEP) which is principally created for framers, traders and artisans, the bank had also disbursed a total of N255million to 5100 beneficiaries across the state. Also speaking at the event, the Deputy Governor of Benue State, Benson Abono commended the bank for its efforts at developing small businesses in the state. According to him, “I suggest the governor establish industrial parks, at least, one in each senatorial district where amenities will be provided and where other infrastructure will be provided. They will share the facilities.” Charging the beneficiaries to make the best use of the opportunities, the deputy governor said the first set of recipient ‘would make us proud.’ He added,”It is unfortunate that in the past, the blood of business is not running in our veins. But the time is now for us to join the business world. All the business moguls around the world borrow money to do business. It is what you do with the money that determines the success or otherwise of a business. L-R: Tomi Adepoju, partner, board advisory, KPMG in Nigeria; Bisi Lamikanra, co-chair, WCD Nigeria; Ciska Knight, KPMG lead, WCD EMA; Mosun Bello-Olusoga. co-chair, WCD Nigeria; Toyin Gbagi, partner, audit services, KPMG in Nigeria; Nike Oyewolu, head, markets operations, KPMG in Nigeria at the launch of Women Corporate Directors (WCD) Foundation in Nigeria recently. L-R: Henry Akinyele, chairman of the Rotary Foundation Dinner and Dance 2018 committee, Assistant Governor; Adejuli Adelusi, Past District Governor; Olusegun Mimiko, former governor, Ondo State/guest speaker of the occasion, and Wale Ogunbadejo, District Governor Rotary International D9110 Nigeria, at the Rotary Foundation fund Raising Dinner held in Lagos. DHL Global Forwarding appoints Ny Riana Rasolofonjatovo to lead business in Mauritius, Madagascar Amadou Diallo, CEO, DHL Global Forwarding Middle East and Africa, said, “Africa bears vast opportunities for businesses to grow, especially with rising trade volumes in export and import, as well as intra-region. In particular, Mauritius and Madagascar are poised for growth with stable and conducive climates to promote investments. Mauritius1 in particular also benefits from its strategic positioning as a gateway for investments from Europe and Asia into Africa. With so many opportunities ahead, we need strong leaders to best harness business prospects for our customers who trust that we can deliver.” Daniella De Pauw, CEO, DHL Global Forwarding Sub- Saharan Africa, said,”Ny Riana is a true DHL veteran who has risen through the ranks over the years, to become a key asset for our business. His wealth of experience and first-hand knowledge of dayto-day operations put him in good stead to lead with confidence and I have absolute trust that he will continue to see us through growth in these markets.” Ny Riana has been with DHL for almost 15 years, and during this time, he has taken roles across both DHL Express and DHL Global Forwarding. In his most recent role as country manager for DHL Global Forwarding Madagascar - a role he has held since 2011, he led the team to achieve high customer satisfaction, and surpassed all key performanceindicators. A DHL veteran, he first joined DHL Express in 2003 as a project manager in Madagascar, to develop the new network and domestic market for the company. Between 2005 and 2011, he led the Operations team in DHL Global Forwarding Madagascar to provide top quality end-to- end logistics operations, aligned with DHL’s global procedures. In 2006, he led the deployment of a full suite of logistics solutions to support mining companies and their sub-contractors in the Eastern region of Madagascar. He was promoted to country manager for DHL Global Forwarding Madagascar in 2011. Ny Riana Rasolofonjatovo, Country Manager for Mauritius and Madagascar, DHL Global Forwarding, said, “Taking on an expanded role in this region is an honor and I am humbled by the trust placed in meto lead the countries. I look forward to working with the team, todrive the best business results for our customers.” With experience working in the logistics sectors in South Africa, Dubai and Kenya, he stands by result-oriented processes to maximize customer satisfaction, and is a keen believer of a healthy organizational culture, grounded by mutual respect among employees. Heholds a High Degree in International Commerce and Business Administration from Higher Institute Polytechnic in Madagascar and an Advanced Diploma in Diplomacy and Strategy from Center for Diplomatic and Strategic Studies. L-R: Temie Giwa, founder Lifebank; Tosin Faniran–Dada, head of startups, Lagos State Employment Trust Fund (LSETF); Akin Oyebode, executive secretary, LSETF; Olumide Shoyombo, co–founder Leadpath, and Oluyomi Ojo, co-founder Printivo, during the launch of Lagos Innovates at the 2018 annual Social Media Week Lagos held at Landmark Events Centre, Oniru, Lagos. L-R: Christiny Onabu, president, Young Women’s Christian Association of Nigeria (YWCA) Lagos Branch Church of Restoration; Olapeju Sofowora, chairman, YWCA Lagos Branch; Cobhams Azuquo Guest Speaker; Omotola Akinola, managing director, Hydra Verifications Limited, and Kemi Adewole, CEO, Protiquette, during the Life Skills for self-Discovery on self actualization organized by Young Woman’s Christian Association of Nigeria, Lagos Branch held in Lagos.

Tuesday 06 March 2018 C002D5556 BUSINESS DAY 17 Harvard Business Review Tips & Talking Points TALKING POINTS Coding Skills in Demand 12%: In 2015, some 7 million jobs around the world required coding skills, and that number of jobs is growing about 12% faster than the average, according to research from Oracle Academy and Burning Glass Technologies. + Compassion and Leadership 91%: According to the results of a recent survey of 1,000 executives slated to be published in an upcoming book, “The Mind of the Leader – How to Lead Yourself, Your People and Your Organization for Extraordinary Results,” 91% said that compassion was very important when it comes to leadership. + Engineering in India 10,000: India is home to more than 10,000 engineering education institutes, and the country produces more engineers than the U.S. and China combined. + Centuries in the Business 1288: Stora Enso, the Finnish paper manufacturer, is the oldest corporation in the world, founded in 1288. + Latin America’s Power Players 60%: Two countries - Mexico and Brazil - account for more than 60% of Latin America’s gross domestic product. To mentor a narcissist, try beingkind Working with a narcissist is hard, but mentoring one can be especially challenging. Your instinct as a mentor may be to criticize the narcissist, to put them in their place, but this typically makes a self-absorbed person defensive — prompting even more problematic behavior. Try some empathy instead: Recognize that narcissism is often a byproduct of insecurity, then work hard to convey affirmation and understanding. You might say things like, “We’re really lucky to have you here. It must be hard when others don’t seem to appreciate your contributions.” And position your mentee’s problematic qualities in a positive way. For example, you could frame arrogance and entitlement as unusually high self-confidence. By demonstrating respect and acceptance, you can lower the person’s defenses, opening the door to meaningful dialogue and greater selfawareness. (Adapted from “How to Mentor a Narcissist,” by W. Brad Johnson and David G. Smith.) Demonstrate your commitment while working from home When you’re a working parent, it can be helpful to have the flexibility to work remotely. But your in-office colleagues may wonder just how much you’re getting done. To help the boss and co-workers appreciate your work, provide small, clear signals that your commitment and work ethic are strong. For example, you might send emails first thing in the morning to show you’re already up and at it. Or, go out of your way to let colleagues know you’ve read their documents carefully: “Brad, thanks for this — the data on page six will be helpful in our quarterly review process.” You can also take calls in the early morning or late at night as a favor to co-workers in other time zones. And try to stop into the office every few weeks or attend special meetings when you can. These tactics will help show how eager and hardworking you are. (Adapted from “How to Work from Home When You Have Kids,” by Daisy Wademan Dowling.) On vacation? Stop checking email Going on vacation? To get the most out of your time away, keep your phone out of sight and mind. Research shows the mere presence of a phone stresses us out, even if we aren’t using it. (Plus, moving your job from an office to a beach is no holiday at all.) Set clear boundaries in your out-of-office message by letting your team know you’re not available and won’t read email during your trip. You may even want to delete the messages you get while you’re away. That might sound extreme, but if an email is important, it can be sent again — and if not, you don’t need to read it anyway. And keeping your inbox clean means that post-vacation “refreshed” feeling won’t be buried by a mountain of email when you’re back in the office. (Adapted from “How to Keep Email from Ruining Your Vacation,” by Arianna Huffington.) c Practice self-compassion during a work crunch When work is intense, it’s easy to beat yourself up for letting things slip at the office or at home. But doing so can make the stress worse. Have self-compassion instead: — Accept that you’re in an acute period of work stress and notice — don’t suppress or deny — your emotions. Assigning a word to what you’re feeling, such as “pressure,” “guilt,” or “worry,” can activate the prefrontal cortex, which is responsible for executive functioning skills. — Assess your to-do list by deciding what you need to get done each day and what can wait. And don’t be afraid to ask for help, whether it’s renegotiating a deadline with a colleague or getting family members to pitch in at home. Having compassion for yourself will help you increase your focus and get through the crunch with greater ease and peace. (Adapted from “5 Ways to Focus Your Energy During a Work Crunch,” by Amy Jen Su.) 2017 Harvard Business School Publishing Corp. Distributed by The New York Times Syndicate What is your most urgent and important work? We all think we have too much to do, and not enough time to do it. But you’ll never feel on top of things if you don’t have clear priorities in the first place. Start assessing your priorities by taking inventory of the work you do: Which tasks are more (or less) urgent? Which are the most (or least) important? This inventory will prepare you to make concrete to-do lists for the tasks that truly need your attention. It will also help you answer the question, “How is my time best spent right now?” Focus on the tasks that are both urgent and important, and get rid of tasks that are neither by delegating them — or not doing them at all. And don’t neglect the tasks that are important but less urgent. Be sure these activities move up on your to-do list, or they may never get done. (Adapted from “Stop Letting Email Control Your Work Day,” by Paul A. Argenti.)

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