PAGE 30, SUNDAY VANGUARD, DECEMBER 1, 2019 applications, back end applications and workflow, robotics, artificial intelligence (AI) and process automation solutions. SmartFocus Technologies Limited caters <strong>for</strong> operations around smart buildings, smart facility management, smart metering which helps consumers measure power consumption at any point in time regardless <strong>of</strong> the source <strong>of</strong> supply (grid or generator), smart parking, as well as internet <strong>of</strong> things (IoT) technology. The fifth member <strong>of</strong> the group is S<strong>of</strong>t Solution Concept Limited; the bespoke and home-grown solutions subsidiary providing locally built and tailor-made SPECIAL SECTION ON OUTSTANDING CEOs We Create The Future To Stay Ahead Of Competition Continued from pg 25 solutions around human resource management and legal <strong>of</strong>fice management among others. A member <strong>of</strong> the Institute <strong>of</strong> Directors <strong>of</strong> Nigeria, Chartered institute <strong>of</strong> Management and Nigerian Computer Society, while commenting on the challenges faced in his entrepreneurial journey, he emphasised on scarcity <strong>of</strong> skilled people among others. In his words, “there seems to be scarcity <strong>of</strong> skill set in the country as it is very difficult to get capable skilled people to employ. Most <strong>of</strong> the unemployed graduates do not have the necessary skills, neither are they ready or willing to learn and work, all they are interested in is money. In terms <strong>of</strong> infrastructure, inadequate power supply is killing OLUFOWOSE: Creating Bespoke Financial Services Across Board e is an alumnus <strong>of</strong> the prestigious HHarvard Business School and a first class graduate <strong>of</strong> economics from the University <strong>of</strong> Lagos. Without mincing words, Ebenezer Olufowose, the Group Managing Director <strong>of</strong> First Ally Capital Limited, is indeed an economist and investment guru with a Midas touch. This has been evident throughout the course <strong>of</strong> his career till date. Highlights <strong>of</strong> his illustrious career includes being responsible <strong>for</strong> the listing <strong>of</strong> Guaranty Trust Bank’s shares on the Nigerian Stock Exchange, while he was head <strong>of</strong> investment banking after which he was charged with the responsibility <strong>of</strong> setting up GTBank’s first subsidiary outside Nigeria. He later joined Citigroup in 2002 where as a director, he led Citigroup’s origination, structuring and execution <strong>of</strong> corporate finance deals in Nigeria till 2007. He was also an Executive Director with Citibank Nigeria. As an Executive Director at Access Bank between 2007 and 20<strong>13</strong>, he was involved in the acquisition <strong>of</strong> Intercontinental bank; a process which trans<strong>for</strong>med the bank from a tier-2 to a tier-1 bank. His expertise also came to bear in the bank’s USD500million Eurobond which was listed on the London Stock Exchange. He resigned from the bank in 20<strong>13</strong> to pursue his entrepreneurial quest with the establishment <strong>of</strong> FACL which under a period <strong>of</strong> six years has become a financial house attending to the needs <strong>of</strong> every class <strong>of</strong> the society through its subsidiaries namely; First Ally Asset Management, Personal Trust Micr<strong>of</strong>inance Bank, First Ally Bureau De Change and FACL Properties Limited. “It has been a wonderful journey since we started because God has been there <strong>for</strong> us. Our vision is to be the •Victor Ekpenyong ictor Innocent Ekpenyong is the Vmanaging director and chief executive <strong>of</strong>ficer <strong>of</strong> Kenyon International West Africa Limited; a wholly owned indigenous firm that has achieved giant strides in the Nigerian oil and gas industry with regards to wellhead services, sealant solution technology and OCTG services. An indigene <strong>of</strong> Edem Idim Ibakesi from Ini Local Government Area <strong>of</strong> Akwa Ibom State, he attended Government Technical School, Ewet, Uyo <strong>for</strong> his technical •Ebenezer Olufowose partner <strong>of</strong> choice to our clients, providing innovative financial solutions and enabling growth. We have made the progress so far achieved by hiring creative minds who make up the management team <strong>of</strong> the group. The quality <strong>of</strong> our shareholders and directors has also contributed greatly to our success”, he in<strong>for</strong>med. A Sir Adam Thomson Scholar at the University <strong>of</strong> Sussex, UK where he obtained a master’s degree in International Economics, Olufowose sees opportunities in every situation no matter how ugly it looks and he approaches every challenge creatively with the objective <strong>of</strong> bringing out something that will be beneficial <strong>for</strong> all. This actively played out in FACL’s acquisition <strong>of</strong> Personal Trust Savings and Loans, now known as Personal Trust Micr<strong>of</strong>inance Bank through which thousands <strong>of</strong> MSMEs have benefited from its products in growing school education, after which he proceeded to the Federal University <strong>of</strong> Technology, Owerri where he obtained a bachelor <strong>of</strong> technology degree in Project Management Technology. He started his career as a technician trainee during which he learnt how to install and service surface well control equipment, wellhead & Xmas tree, pile driving among others. After years <strong>of</strong> working across a number <strong>of</strong> companies, he embarked on an entrepreneurial journey in 2015 with the establishment <strong>of</strong> Kenyon International West Africa Company Limited. Since establishment, the company has distinguished itself <strong>for</strong> excellent services which has given it credence with international oil companies (IOCs) as well as local companies in the Nigerian oil and gas industry. “We are one <strong>of</strong> the youngest and fastest growing companies in the Nigerian oil and gas industry. We have been opportune to leverage on the local content act which has helped us in getting jobs with IOCs and other local players. In line with our core values <strong>of</strong> reliability, loyalty, dependability, passion and commitment, we have been able to bring to reality our mission which is to meet and exceed our customers’ expectations by continually improving and updating the skills and resources needed <strong>for</strong> demand driven oil and gas services in all our •Oladipo Raji their businesses. The bank is also responsible <strong>for</strong> the digital lending application called “MoniNow” as part <strong>of</strong> ef<strong>for</strong>ts to extend its footprints in the digital banking space. The successes <strong>of</strong> the company has continued to increase despite challenges peculiar with the Nigerian business environment. In the course <strong>of</strong> this year, FACL won the Capital Finance International (CFI) award <strong>for</strong> the most innovative financial solutions team in Nigeria, while its asset management subsidiary achieved an impressive record through its money market fund which became the first money market fund to be oversubscribed in many years and it is presently listed on the FMDQ Securities Exchange. Commenting on the challenges facing the capital market, the innovative CEO explained that the lack <strong>of</strong> confidence in the Nigerian economy has continued to be a fear factor <strong>for</strong> investors which is why the capital market is yet to actualise its full potentials. In his words, “When the economy was in recession, most <strong>for</strong>eign investors pulled out and the truth is that portfolio investors account <strong>for</strong> a significant portion <strong>of</strong> investors in Nigeria, so every time they retreat, the market goes down. As it is the equities market is yet to recover from the last recession. Despite the successful conclusion <strong>of</strong> the elections, investors’ apathy persists as a result <strong>of</strong> lack <strong>of</strong> confidence in the country’s economic direction. However, the constitution <strong>of</strong> the Economic Advisory Council headed by Pr<strong>of</strong> Doyin Salami is a great development because the team is made up <strong>of</strong> respectable and knowledgeable economic pr<strong>of</strong>essionals. I have absolute confidence in what they have to <strong>of</strong>fer and hope their recommendations would be given due recognition” VICTOR EKPENYONG: Bridging Gaps In The Oil and Gas Industry operations”, he in<strong>for</strong>med. On the challenges faced in his field <strong>of</strong> operations, the alumnus <strong>of</strong> the Lagos Business School Owner Manager Programme (OMP 29) described vandalism as the biggest challenge faced in the management <strong>of</strong> wellhead & Xmas tree. According to him, anti-theft locks, ESD valves being used in isolated location in protecting wellheads in Nigeria are obsolete and the vandals already know how to unlock them. “Whenever these vandals carry out their acts, they don’t only hurt the companies, they also hurt the host communities as a result <strong>of</strong> spillage. The companies get to spend more money because they will need to compensate the communities and also clean up the spillage. I believe if the newer well security technology used in other countries is deployed, it will check stop the activities <strong>of</strong> the vandals, so there is need to budget more <strong>for</strong> well integrity and this is where NNPC needs to come in”, he said. Ekpenyong disclosed that his goal is <strong>for</strong> the company to be a one-stop shop <strong>for</strong> wellhead supply, installation and maintenance in Nigeria. According to him, “Our long term goal is to open a factory where wellhead accessories will be manufactured to serve Nigeria and neighbouring markets. In the shortterm, we will be opening our warehouse by the third quarter <strong>of</strong> next year where everything a lot <strong>of</strong> businesses in Nigeria, as a 24/7 company, we spend heavily on power to keep our operations running and this impact greatly on our bottom-line. Another challenge is the market structure, especially, in the connectivity sub-sector where we have to compete with our service providers <strong>for</strong> the same businesses due to lack <strong>of</strong> effective regulation that segment the market <strong>for</strong> different scale <strong>of</strong> operation.” In its bid to stay focused irrespective <strong>of</strong> challenges and also stay above competition, Raji in<strong>for</strong>med that the company operates a blue ocean strategy which has enable it create its own future instead <strong>of</strong> struggling <strong>for</strong> the already saturated markets. “Our capability •Kabir Ayinde e is an astute manager <strong>of</strong> Hresources who has succeeded in raising the bar when it comes to delivering excellent results through pr<strong>of</strong>essional and organizational skills. Mr. Kabir Ayinde Tukur, the chief executive <strong>of</strong>ficer <strong>of</strong> Cooperative Mortgage Bank has distinguished himself as a financial expert with a touch <strong>of</strong> excellence in the course <strong>of</strong> his career. An alumnus <strong>of</strong> the University <strong>of</strong> Togo and the Harvard Business School, Tukur started his career at Savannah Bank where he served <strong>for</strong> 15 years be<strong>for</strong>e branching out to set up a consultancy firm known as Home Management Services. He subsequently established City Homes Savings and Loans Limited where he worked until 1996. During the recapitalization exercise by banks in 2006, he played a prominent role in some merger and acquisition deals in the country as a consultant. In 2009, he was involved in the recapitalization <strong>of</strong> Cooperative Savings and Loans Limited which is now known as Cooperative Mortgage Bank and he has been serving as managing director. Since he took over the helm <strong>of</strong> affairs, the bank has witnessed a positive turnaround in its <strong>for</strong>tunes as it celebrated its twenty-fifth anniversary earlier this year as an institution that has been providing home ownership services to the medium and lower class. “As the only cooperative bank in Nigeria, we emphasize more on cooperative institutions and societies because, we have not less than 20 million co-operators in Nigeria which gives us the unique opportunity to bank that segment <strong>of</strong> the populace”, to <strong>of</strong>fer end-to-end solutions from within the group has helped position us <strong>for</strong> effectiveness. For existing markets however, we compete effectively through unmatched efficiency in the industry. Our unique value proposition that sets us above the pack includes being a one-stop ICT solutions provider, service excellence, the trust and confidence our customers have is us, is perhaps our greatest strength. We are innovative because we believe the best way to predict the future is to create it. We are agile in responding to customers promptly, our rich experience and industry Knowledge stands us out and we guarantee cost effectiveness by <strong>of</strong>fering quality solutions and services at p<strong>rice</strong>s unmatched in the market”, he said. At CMB, We Are Passionate About Home Ownership Through Mortgage Mr. Kabir Ayinde Tukur CEO, Cooperative Mortgage Bank pertaining to wellhead & Xmas accessories will be available <strong>for</strong> our esteemed customers. We have partnership deals with some OEM’s in US, UK and China in terms <strong>of</strong> engineering design and he in<strong>for</strong>med. During the course <strong>of</strong> the year, Tukur, representing Cooperative Mortgage Bank, became the only Nigerian among the seven-man board <strong>of</strong> the International Cooperative Bankers Association, which is the banking arm <strong>of</strong> the International Cooperative Alliance; the body that controls all cooperative societies worldwide with over one billion members spread across the globe. According to him, it is not just an achievement that has given him and the bank a global recognition, but also an honour to Nigeria as a whole. Commenting on the challenges <strong>of</strong> home financing, Tukur explained that the major challenge as it relates to Nigeria is capacity, and mortgage is the only solution that provides the capacity people need to own their houses. He said, “In developed countries 95 percent <strong>of</strong> home ownership is through mortgage, but the reverse is the case here in Nigeria, where only about five percent home ownership is through mortgage. The problem is not af<strong>for</strong>dability, it is more about capacity and that is where mortgage comes in. It does not only encourage efficiency and prudency, it also helps to manage cash flow in the economy.” “Take <strong>for</strong> instance, if you earn N50,000 monthly, it means you can af<strong>for</strong>d our one-bedroom apartment which goes <strong>for</strong> N3million by paying N18,000 every month. In this case, the moment you realise your salary is tied to mortgage, you will cut <strong>of</strong>f unnecessary spending and you become efficient on your job because you don’t want to lose your house.” In line with the strategies <strong>of</strong> the bank to focus more on cooperative societies, the astute CEO in<strong>for</strong>med that CMB approaches home ownership from the demand side. “Be<strong>for</strong>e we finance a housing project, we would have secured assurances from the people involved. This approach helps in reducing the cost because the more the number <strong>of</strong> houses you are building together, the cheaper the cost. Instead <strong>of</strong> buying cement from a road side distributor, you buy directly from the factory which comes at a lower rate. Same also applies to other materials that goes into the construction. This approach has also helped in providing immediate accommodation, unlike those who build and then look <strong>for</strong> people to buy. Such houses are usually expensive and that method also ties down capital”, he explained. On future goals <strong>of</strong> the company, Tukur emphasized on the bank’s vision to expand its operations across the country in providing mortgage, <strong>for</strong> af<strong>for</strong>dable housing to Nigerians. “We want to be visible in every part <strong>of</strong> the country by empowering people to buy houses with ease at a single digit. To achieve this, we have partnered with some estate developers in providing houses <strong>for</strong> the middle and lower class”, he said. production <strong>of</strong> surface wellhead as well as spare parts. With this, we will be able to stock enough inventory and bridge gaps in the industry.
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