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BusinessDay 16 Apr 2018

Monday

Monday 16 April 2018 BUSINESS DAY A13

A14 NEWS BUSINESS DAY C002D5556 ‘Only Nigerians with creative, innovative mindset can push frontier of growth’ KELECHI EWUZIE ships between buyers and sellers.” Like a typical MBA curriculum, The Chairman’s Empire is designed to teach business tactics and strategic thinking and the fundamentals of maintaining a healthy cash flow in order to avoid bankruptcy. “The game is designed to act as a guide on how to invest big to reap big and become the chairman of a vast business/economic empire, and inspire and contribute to your world through engagement in corporate social responsibility projects, etc,” she said. The game set up is structured like a typical business with players/investors why ply different sectors of the economy. It also has a central bank or the banks from which players obtain loans/credit for investment. The ‘investor’ must be careful to invest in sectors with low risk, but with potential for higher returns on investment. “The Chairman’s Empire was developed by HIIMA Edutainment, a Nigerian company and an arm of Distinct Integrated Services Limited, as an exciting business education game, which enables players catch up with the ever evolving business world. Zinox merges Konga, Yudala operations JUMOKE AKIYODE-LAWANSON Zinox Group has announced the merging of e-commerce operations between Konga and Yudala, as earlier predicted after Zinox acquired Konga, one of Nigeria’s largest online malls a few months ago. The merger, which takes effect from May 1, will see both companies operate on the ‘Konga’ brand name and is likely to give the company a stronger hold on Nigeria’s e- commerce market. In a statement, Zinox says the decision will see both Yudala and Konga leverage the combined strengths of both platforms, which is expected to further broaden the scope of organised retail and e-commerce in Nigeria and deliver more value to customers and merchants. “Combining forces to power the new Konga will enable us effectively achieve our goals of platform expansion and accelerated growth, as we embark on an ambitious journey to redefine the retail ecosystem with the industry’s most advanced technology,” Olusiji Ijogun, the newly appointed chairman of Konga, said. “Effective from May 1, Yudala will now operate under the name Konga, with dual CEOs in the persons of Nick Imudia who will be in charge of online among others and Prince Nnamdi Ekeh who will be responsible for offline. This merger will further strengthen our position in the Nigerian retail market as we creatively position Konga as the first profitable e-commerce company in Africa. “The efficiency of Konga’s cutting-edge online platform, access to thousands of merchants and Yudala’s expansive network of fully stocked offline stores is poised to give our customers the best shopping experience imaginable. We will be working closely with all our combined clients, customers, merchants and employees to make the integration process as seamless as possible and thereafter make public our road map to sustain our leadership on the continent,” Ijogun said. One of the exciting benefits of this merger is the possibility it offers prospective shoppers to order online, pay and pick-up the product(s) at the nearest Konga offline store. There are also increasing business opportunities for merchants nationwide. Monday 16 April 2018 Medview explains rationalisation of staff, denies debt to service providers IFEOMA OKEKE Industry experts in the business and education sectors have warned that in the coming decade, the only assurance for Nigerians to remain relevant and push the frontier of growth is to be creative and innovative in their decision making. Ima Mariam Agunbiade- Etiebet, chief executive of Distinct Integrated Services Limited, said it was important that Nigerians learn financial discipline, planning and management as this would help them develop entrepreneurial, creative and innovative mindset to see possibilities and opportunities. Agunbiade-Etiebet stated this at the unveiling of the Chairman’s Empire, an innovative board game in Lagos. The Chairman’s Empire is a thrilling board game that can be played by two or more people, and takes players through the nitty-gritty of modern business practice. It is designed to be enjoyed by both adults and children of seven years old and above. According to Agunbiade- Etiebet, “The Chairman’s Empire, among other things, helps the players understand the dynamics of doing business, including the relation- Managing director of Medview Airlines, Muneer Bankole, says the airline had to undergo rationalisation of 52 staff members, both professional and administrative wise, as part of efforts to re-align its operations. Furthermore, Bankole says the airline is not indebted to any of its international service providers. Speaking at a press conference, weekend, Bankole said the airline had paid January salaries and had paid up 60 percent of staff in February, and was not indebted as those rationalised had to undergo the company’s processes but would be paid soon. According to Bankole, “Today, I will tell you that Medview is carrying out staff rationalisation and that is normal in any business. We came back in January and we announced to staff that we had to carry out this exercise. In January, we didn’t owe anyone and in February we had paid 60 percent of our colleagues, including our pilots, but those that were laid off were 52 and we are still doing it. “We had to rationalise their salaries because they have to meet the processes and procedures of disengagement, because when we give them letters, they have to go through Human Resources, return their Identification card and we check their books to see if they are not on loan and then they are paid their final packages. “In January, we had paid all and paid 60% in February and we are doing the exercise simultaneously. It affects captains, engineers, handlers and it affects those who have cases and those indicted for disciplinary of fences are equally affected.” On alleged debts to service providers, he said if they were owing any of their foreign service providers, the airline would not last six months. The airline, according to Bankole, is also realigning its operations to ensure its long-term sustainability by strengthening its domestic operations. “The 777 is undergoing C-Check and will be back by May but this affected our scheduled operations. When you have two aircraft outside, you restructure your operations and plan your schedule.

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