PAGE A6 SUNDAY VANGUARD, APRIL 4, 2021 DR. OBIOMA JAYNE ONWUMERE: A Visionary Creat<strong>in</strong>g Opportunities In Real Estate Though she doesn’t see herself <strong>as</strong> a realtor, but given her achievements <strong>in</strong> the real estate bus<strong>in</strong>ess especially how she h<strong>as</strong> revolutionized the <strong>in</strong>dustry, it is not out of place to call her the amazon of the Nigerian real estate <strong>in</strong>dustry. Dr. Obioma Jayne Onwumere is the Group Manag<strong>in</strong>g Director and CEO of Property World Africa Network popularly known to <strong>as</strong> PWAN Group where she leads a team of 28 manag<strong>in</strong>g directors with over 350 Staff members spread across 29 Companies that make up the PWAN Group with over 80 thousand <strong>in</strong>dependent network market<strong>in</strong>g professionals also known <strong>as</strong> PWAN Bus<strong>in</strong>ess Owners (PBOs) spread across 17 states of the federation. The bus<strong>in</strong>ess which started <strong>as</strong> PWAN Homes by herself and her husband, Dr. August<strong>in</strong>e Onwumere <strong>in</strong> 2012 w<strong>as</strong> born at a time they were fac<strong>in</strong>g hous<strong>in</strong>g challenge and with zero capital, they took the bold step to pursue the vision which today h<strong>as</strong> created a platform for quite a number of Nigerians to create consistent <strong>in</strong>come. “I don’t see myself <strong>as</strong> a realtor. I am a visionary and entrepreneur who is us<strong>in</strong>g real estate <strong>in</strong> solv<strong>in</strong>g problems. Before PWAN, my husband had a bus<strong>in</strong>ess which failed, but I would say it w<strong>as</strong> a learn<strong>in</strong>g process for us. After sometime, we became homeless and for two and half years we lived <strong>in</strong> 13 places. It w<strong>as</strong> dur<strong>in</strong>g this period that the dream for PWAN w<strong>as</strong> born. “We are proud to call ourselves the first real estate network market<strong>in</strong>g company <strong>in</strong> the world and we have practically revolutionized the <strong>in</strong>dustry <strong>in</strong> Nigeria through the network market<strong>in</strong>g model. Today, most real estate companies <strong>in</strong> Nigeria have adopted the model given its success <strong>as</strong> demonstrated by us. One important feature of the model is that it spreads commission across board. At the early stage of PWAN Homes, I noticed that estate agents fight over commission and given my experience <strong>as</strong> a network marketer, I <strong>in</strong>troduced the model so that when a sale is made, everyone <strong>in</strong> the network gets paid”, she <strong>in</strong>formed. The quest to br<strong>in</strong>g the vision of PWAN Homes to reality, led to the expansion of the company with the establishment of 28 affiliate companies to date. The ownership of these affiliate companies is also the first of its k<strong>in</strong>d <strong>in</strong> Nigeria <strong>as</strong> they are co-owned by employees of the parent company who have dist<strong>in</strong>guished themselves over the years. Also <strong>in</strong>cluded <strong>in</strong> the group is PHPAC, the company charged with the responsibility of rais<strong>in</strong>g and equipp<strong>in</strong>g the consultants and partners now known <strong>as</strong> PBOs. In the l<strong>as</strong>t n<strong>in</strong>e years, PHPAC h<strong>as</strong> tra<strong>in</strong>ed thousands of people <strong>in</strong> real estate network market<strong>in</strong>g, entrepreneurship, management and <strong>leaders</strong>hip. Accord<strong>in</strong>g to her, “we understand the fact that there is a huge deficit for home ownership <strong>in</strong> Nigeria and we believe all the government needs to do is to create the enabl<strong>in</strong>g policies, such <strong>as</strong> mak<strong>in</strong>g it e<strong>as</strong>y to access land titles. To contribute our quota <strong>in</strong> this regard, we started establish<strong>in</strong>g affiliate companies with different mandates. In these affiliate companies, we have a 50/50 shar<strong>in</strong>g ratio with our directors who head those companies. They were hitherto marketers, but they have dist<strong>in</strong>guished themselves and have been duly rewarded to lead those companies. This model also h<strong>as</strong> helped us to provide home ownership across various states of the federation.” An <strong>in</strong>spir<strong>in</strong>g character who believes <strong>in</strong> the concept of adaptability for bus<strong>in</strong>ess growth further <strong>in</strong>formed that the PBO programme of the company became a reality dur<strong>in</strong>g the lockdown period <strong>in</strong> 2020, <strong>as</strong> lots of people lost their jobs and they had noth<strong>in</strong>g to fall back on. •Dr. Obioma Jayne onwumere “As an entrepreneur, I believe that to be successful <strong>in</strong> bus<strong>in</strong>ess, you must learn to adapt and re<strong>in</strong>vent because the environment is subject to change. For us, we have always positioned ourselves to adapt to any change that my come up <strong>in</strong> our environment. For <strong>in</strong>stance, we started the PBO dur<strong>in</strong>g the lockdown <strong>in</strong> 2020 and it h<strong>as</strong> greatly contributed to our growth because we were able to expand our network from six to 17 states and before the end of this year, we would have extended our operations to at le<strong>as</strong>t 20 states. So the essence of the PBO is to give our marketers a sense of ownership, such that they also own what they are sell<strong>in</strong>g and we have made it e<strong>as</strong>y for them to pay <strong>in</strong> <strong>in</strong>stalments”, she <strong>in</strong>formed. Fondly referred to <strong>as</strong> Mama Africa given her philanthropic gestures, <strong>as</strong> Dr. Onwumere h<strong>as</strong> improved the lives a hundreds of women through her Empowerment for all Women Program. Orphans are also not left out <strong>as</strong> she cont<strong>in</strong>ues to reach out to them with food items and monetary gifts, while also pay<strong>in</strong>g the school fees of a number of children with the support of her husband. She w<strong>as</strong> conferred with an Honorary Doctorate Degree by the European- American University, Commonwealth of Dom<strong>in</strong>ica <strong>in</strong> recognition of her contributions to mak<strong>in</strong>g home ownership dream a reality for <strong>as</strong> many people <strong>as</strong> possible. Dr Jayne, a lifelong learner, is an alumnus of Lagos Bus<strong>in</strong>ess School and is presently <strong>in</strong> the Owner President Management Programme at the Prestigious Harvard Bus<strong>in</strong>ess School <strong>in</strong> Boston M<strong>as</strong>sachusetts, USA. At Letshego, We Are P<strong>as</strong>sionate About Grow<strong>in</strong>g MSEs Mrs. Tolulope Opay<strong>in</strong>ka, CEO, Letshego Microf<strong>in</strong>ance Bank •Mrs. Tolulope Opay<strong>in</strong>ka She is an <strong>as</strong>tute professional who h<strong>as</strong> dist<strong>in</strong>guished herself <strong>in</strong> the f<strong>in</strong>ancial sector, Mrs. Tolulope Opay<strong>in</strong>ka is the Chief Executive Officer of Letshego Microf<strong>in</strong>ance Bank (LMFB), Nigeria where she provides strategic direction for the day-to-day operations of the bank which is part of a pan-African conglomerate. A f<strong>in</strong>ancial expert with a track record of excellence <strong>in</strong> almost three decades of practice, she began her journey <strong>in</strong> the f<strong>in</strong>ancial world at Capital Bancorp Limited where she m<strong>as</strong>tered the act of stockbrok<strong>in</strong>g. Thereafter, she jo<strong>in</strong>ed ARM Plc where she w<strong>as</strong> <strong>in</strong>troduced to the world of <strong>as</strong>set management and <strong>in</strong>vestment bank<strong>in</strong>g. She later jo<strong>in</strong>ed First Bank Plc where she established herself <strong>in</strong> corporate f<strong>in</strong>ance. In March 2018, she jo<strong>in</strong>ed LMFB and h<strong>as</strong> s<strong>in</strong>ce made some significant impact <strong>in</strong> stabiliz<strong>in</strong>g the bank. She is a graduate of Economics from the University of E<strong>as</strong>t Anglia, Norwich, England, Certified Microf<strong>in</strong>ance Banker and a member of the L&D Network Group (Nigeria) of the ATD. She also serves on the mentor<strong>in</strong>g platform of The Chartered Institute of Bankers of Nigeria. Her <strong>in</strong>terests are centred on philanthropy and f<strong>in</strong>ancial empowerment. She serves on the board of Haven for the Nigerian Child; a notfor-profit organization focused on improv<strong>in</strong>g the lives of children who live on the streets of Lagos. What would you describe <strong>as</strong> the greatest source of <strong>in</strong>spiration that h<strong>as</strong> brought you this far <strong>in</strong> your career? The calibre of organisations that I have had the privilege of work<strong>in</strong>g for over the years have spurred my <strong>in</strong>spiration and motivation for personal growth and achievement. Their consistent and tenacious desire for excellence and impactful customer service h<strong>as</strong> led to my own commitment to deliver excellence to each customer without excuses at all times. What are the factors that have contributed to the steady growth of Letshego MFB <strong>in</strong> Nigeria? Letshego is committed to <strong>in</strong>cre<strong>as</strong><strong>in</strong>g access to simple, appropriate and affordable f<strong>in</strong>ancial solutions to m<strong>as</strong>s and middle <strong>in</strong>come segments, or what we call Micro and Small Entrepreneurs (MSEs). Our purpose is to improve the lives of <strong>in</strong>dividuals, by provid<strong>in</strong>g access to susta<strong>in</strong>able capital. No matter how seem<strong>in</strong>gly small the value may be, funds that are used and spent correctly, can <strong>in</strong>cre<strong>as</strong>e access to more funds, and improve one’s future <strong>in</strong>come earn<strong>in</strong>g potential. The key enabler <strong>in</strong> Letshego’s steady <strong>in</strong>cursion <strong>in</strong>to the Nigerian f<strong>in</strong>ancial space is the support of Letshego’s 21-year strong f<strong>in</strong>ancial services brand, and presence <strong>in</strong> 11 sub- Saharan Africa markets. Letshego Nigeria h<strong>as</strong> the advantage of leverag<strong>in</strong>g our group’s regional experience, ongo<strong>in</strong>g <strong>in</strong>vestment <strong>in</strong>to digital systems and technology <strong>as</strong> well <strong>as</strong> focused product research and development. As a Pan-African company which h<strong>as</strong> positioned itself <strong>as</strong> a vehicle for grow<strong>in</strong>g MSMEs, tell us about your products which are targeted at MSMEs <strong>in</strong> Nigeria and the impact they’ve had on SME development <strong>in</strong> Nigeria? Letshego Nigeria focuses its support around susta<strong>in</strong>able growth sectors of the economy, to enable us to contribute and support economic development for the long term. These segments <strong>in</strong>clude education, affordable hous<strong>in</strong>g, agriculture, health care <strong>as</strong> well <strong>as</strong> work<strong>in</strong>g capital for small bus<strong>in</strong>esses, that is, ‘Micro and Small Entrepreneurs’ (MSEs) Tra<strong>in</strong> a girl, tra<strong>in</strong> a nation goes the say<strong>in</strong>g. How h<strong>as</strong> Letshego MFB contributed to women empowerment <strong>in</strong> Nigeria? For the International Women’s Day celebrations, I reiterated the fact that a f<strong>in</strong>ancially <strong>in</strong>dependent woman means a f<strong>in</strong>ancially <strong>in</strong>dependent home. At Letshego, we are particularly supportive of women entrepreneurs <strong>as</strong> this is <strong>in</strong> l<strong>in</strong>e with our impact solutions and improv<strong>in</strong>g lives focus. As it stands, 40 percent of our loan book is from women. What are your goals for Letshego Nigeria <strong>in</strong> the next five years? L<strong>as</strong>t year (2020), Letshego launched its ‘Transformation Strategy’ which is a 5-year strategy that will expand our reach, diversify and launch new products, develop our people, digitise our systems, access channels and platforms, and generate susta<strong>in</strong>able long term returns for all our stakeholders. This year we have already launched our milestone mobile platform called, ‘LetsGo’ – Nigerians will soon be able to access the benefits of LetsGo, without ever hav<strong>in</strong>g to visit a branch. This is the first of many digital <strong>in</strong>novations our brand have <strong>in</strong> the pipel<strong>in</strong>e.
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