Digital Marketing 101 — Lionesses of Africa



By Geraldine Eve 

There are basic questions that you need to answer before you embark on your digital marketing journey, and in this article we shall go through them. You may need a pen and paper or better still just open your notes app on your device and answer the questions.

WHY?

Many people want to put their business in the digital space, yet they have not asked themselves why they want to be there. So I am asking you, why do you want your business in the digital space? Answering this question helps you decide on the next step. This question will help you map out your roadmap and set your objectives. So many people think that you just into the digital space with no reason or direction. Some people put their business in the digital space because they see their competitors there and they do not want to look like they have been left behind. Some people put their business in the digital space because they think that it’s a cheap way of marketing their business (a myth I will soon dispel). Some people put their business in the digital space because they read articles like these ones and see videos on YouTube on how the digital space is the place to be. One thing I have to emphasize is that digital marketing has to be embedded in your already existing marketing strategy or plan. You also need a plan about where you want to take your business in general. So if you do not have a plan for your business, maybe that is the place we need to start with. Because if you do not have a plan on how you are going to grow your business, then we are not doing anything. They say failing to plan is planning to fail.  Digital marketing is not just something you dream and wake up doing, it has to be a well-executed plan. So my question to you is, why do you want to take your business digital?

WHO? 

Now that you know why you want to have your business in the digital space, the second question is who? Who do you want to talk to? Who is your target audience? This can only be answered if you have answered the first question correctly. It can also be answered if you have a plan. Often when we ask this question to clients, they say, “Oh our clients are everybody, anybody can buy our product or make use of our service.” That is not an answer… like my semi-literate grandma would say, there is no answer like “hapana, zvese,” which is a local Zimbabwean Bantu language which means there is no answer like “nothing, everything,”  meaning, all questions have specific answers. I know some of you are rolling their eyes at this very moment and saying this person does not know what they are talking about. We want to experiment with you (if you keep records, which definitely you should to run a  successful business) of your customers especially the repeat ones, you will find out you have a specific age range that buys from you more than the others; you have a specific gender that buys from you more than the other; you have a specific location from where most of your clients come from; your customers have specific habits or preferences. Yes you might have all ages, races, gender buying from you, but there is a variant that is more than the other and that is your target market. So your digital efforts should be targeted there. Imagine planning a whole conference and hiring the National Sports Stadium then you get there only to realize you are the only person there and there is no one to listen to you.  So the question is, who do you want to reach with your digital efforts?

WHERE?

Now we know why we are in the digital space, we know who we are going for there, let’s explore where to find them. The digital space is broad, and if you do not streamline your efforts you might not really get your return on investment (ROI). Yes, just being in the digital space is investment – your data, your time that you take, your expertise, all that is investment that you are putting into your digital efforts, so there is supposed to be a return on investment.  So where is your target audience found? This will determine whether you need a website, search engine optimization, social media. Even on social media you need to know if your target audience is mostly found on WhatsApp, Facebook, Instagram, TikTok, Twitter, LinkedIn, YouTube etc. This will determine whether or not to invest in Google Ads. For example, most teens, celebrities are found on Instagram, and lately TikTok has been taking their market share as well. Professionals are found on LinkedIn, Late 20’s to early 40s on Facebook, and almost everybody on WhatsApp. But remember WhatsApp is limited to people in your contacts, who have your contacts saved if it’s statuses, and also limited to the groups that you are in. So the question remains, where is your audience found? If you were using traditional media, imagine advertising in the Sunday News that is mostly distributed in Bulawayo, yet the people who want your product are found in Gokwe, it would be a waste of money and time. So where is your target audience found?

WHEN?

When is the best time to get in touch with your target audience. This seems silly but very important. Your target audience may be like me, and burn the midnight oil. There is no way I am really going to pay much attention to your ads or posts unless I am on a tea break. Knowing your audience to me is laughably like having a stalker. You need to know what time to get to them. It’s like dating a girl who stays with her parents and has to be home by six. If you do not make time to see her during the day then you will hardly see her, and your relationship might be doomed to video calls and audio calls. Or you are dating a farmer, and you want to see him all the time during the planting season, you will be one frustrated chic/guy. So when you get to the audience is equally important. When you use social media platforms, and view your insights you will see what time your audience have viewed your page. But that’s an advanced stage, when you know your audience, just basic knowledge of people you want to get to, this will help you get the best out of your digital efforts. For example, if your target market is over 65 retired people, you know the best time is probably during the day maybe from 10am – 1pm, because they probably take an afternoon nap then sleep early soon after their 6pm supper. That is an indication of how we can use behaviour to determine the best time to get to your audience. This just does not look at time, when also covers days of the week, times of the month. When do they spend? When do they make buying decisions?  Looking at your own audience, when is the best time to get their attention?

WHAT?

We are one step closer to creating an awesome Digital Marketing strategy… Everything is almost in place, now you know all you know, what are you going to be sharing with your audience? They say ‘Content is King’. You need to capture the attention of your audience. The author’s choice of poison these days is WhatsApp. They enjoy capturing the audience on their status. Those that have my personal number and can view my status know that my status is fire, it’s awesome and it’s funny, when you are having a bad day and you really want a good laugh you go to this status. However, in those laughing moments I sneak in my adverts and they always get responses, even if they do not get the business,  I know someone has seen our work. And I am guaranteed that I always have an audience. Recently I did a survey and the response was awesome. There are statuses that the author personally skips because the people are always advertising. We always give this example, imagine when you meet someone and they say, “I’m selling this pen, they do not even say hi, next time you met them they say, Oh yeah I’m selling this pen, no hi, nothing else, then you bump into them at the shops and they say you see these pens going for $20 here I’ve got them for $5.. No hi, and that’s their conversation, will you keep willingly looking for them or you will really avoid them unless you need a pen? We are not saying do not market your goods and services, just do not tire your audience, always trying to sell to them. Content has many aspects, your content needs to be eye catching and interesting. Your content needs to be relevant, creative and simply not boring or exhausting. Your content also needs to be planned. As a team we are always saying that content needs to show that there’s been some thought put into it. That someone actually sat down, thought, planned and researched. 

What also includes questions like what will it cost you to have a successful digital presence? Depending on how you have answered all the above questions, your budget will depend on your needs but for a successful budget nothing less than $100 USD. Remember, the more you invest in your digital presence the better the returns. Of course you can try with organic reach (that is using social media without paying for advertising space). We always laugh with our clients and say to them that these social media platforms are not investing millions into their platforms so that they can give people for free, they are in it to make money, and their money comes from two things, selling of data (information) and paid advertising. Therefore if you are not parting with money you should not expect much ROI from these platforms.



Source link

Levelling the playing field — Lionesses of Africa



By Usha Maharaj 

Unemployment rates are on the rise, retrenchments are commonplace, the job market is transforming, and hope turns to despair everyday as graduates face the reality of a saturated job market. Levelling the playing field matters more today than it ever has before. 

A past work colleague, let’s call her Cindy, gave me a call this week. I remember Cindy from my days in corporate a few years ago. She was an administrator and valued team member who always wore a bright smile to compliment her positive disposition. Cindy was sadly retrenched during a corporate restructure over a year ago and has since been actively seeking employment. Expecting to be greeted by a warm, familiar, bubbly voice on the other end of the line, I was taken aback when all I encountered was sadness. Cindy lost her husband and the family breadwinner to a sudden illness and now finds herself grief stricken and even more desperate in her search for a job. 

The market, already bloated by the significant unemployment rate is further pressured by the many mass retrenchment. What hope is there for Cindy and the thousands just like her who are joining the ranks of the unemployed; having to rapidly re-invent themselves, unprepared and without a clue of where to even start.

Now more than ever, we need to rally together to level the playing field. But if business has, after all these years of trying, visibly failed to level the playing field when it comes to women and minorities earning, developing and climbing the ranks on par with others, what hope is there when the complexity is now tenfold? 

We are no longer just focusing on women and minorities, but also on those who are likely to lose their jobs to restructuring and on those who will lose their jobs to innovation and technology or those who do not evolve at the pace required to take up the new opportunities that replace existing roles when the fourth industrial revolution streamlines their organisations. 

Changing the face of the workforce by including women and minority groups is simple in comparison. While most businesses have failed with this simple transformation, the impact has been bearable. Failure, however, to succeed in this new wave of transformation will not be. 

And not just for people like Cindy, but for their families and the extended communities dependent on them too. As business, alongside our financial pursuits, we have a moral and social obligation to ensure that our workforce adapts and prepares and that we level the playing field for every employee as the new world of work unfolds. 

Moral and ethical business leaders must find a way to match the social needs of their employees, communities and stakeholders to the financial needs of the business and create sustainable solutions to empower the most vulnerable while building a foundation for the new world of work that is rapidly consuming us. 

And whilst employers must act, ultimately, as an employee, it is up to you to chart your own path. Make learning, development, growth and creativity your responsibility; equip yourself with the knowledge and skills required for the next revolution. The time to level your own playing field is now.

This article was first published in the ASA, Accountancy SA Magazine in August 2019.



Source link

Ijeoma Onuoha, a Nigerian fashion brand builder creating stylish yet affordable fashion for women  — Lionesses of Africa



What does your company do?: 

Touchbyasoebigirl is a female fashion brand (parent company Asoebigirl Limited) created to meet the fashion needs of women through affordable but stylish clothing. We fondly refer to our customers as “Touch Woman”. A Touch Woman is a woman that stays stylish regardless of what time or day or occasion it is, and to this end, Touchbyasoebigirl caters to different events; corporate look, casual, events and weddings, swim wear, lounge wear etc. A Touch Woman is bold and confident in her own skin. Regardless of her size, body measurements or type. Our pieces are tailored uniquely to meet individual style and personality. Our customer base currently extends beyond Nigeria into other African countries (Ghana, Kenya, South Africa, Botswana, Cameroon), UK, Europe and the US/Canada. We had in the past years released collections for the UK and the US markets respectively in collaboration with Fashion aggregators and sold out our pieces. We are also going to be releasing a collection for the Kenyan Market in April 2021. We have recently launched a collection called the Touch Executive Woman which offers finely tailored pants suits that show the sexy, confident and powerful sides of the women that wear them.

What inspired you to start your company?

My mum is a fashion designer and has been in the business for almost 3 decades. I discovered my love for sketching designs quite young (less than age 10). As I navigated through my work life (post University), I picked up sketching again as an escape from the work stress. At some point I decided to make it into a proper business as I was already providing these services to my friends for free. Honestly, I am most at peace when I am designing (with a glass of wine of course).

Why should anyone use your service or product?

We strive to make every product personal to the customer. There is a lot of thinking that goes into making an outfit (especially bespoke) for a person. I think about the personality of the customer (I actually enjoy getting to know my customers on a personal level in the best way that I can), and this plays a huge role as I recommend fabrics and/or design pieces for them.



Source link

Sandra Mauricio Vuvu, an entrepreneur from the DRC, now building an organic beauty brand in South Africa — Lionesses of Africa



Share a little about your entrepreneurial journey. And do you come from an entrepreneurial background?

My mom has been my biggest inspiration and so was my late father Mauricio Vuvu. My passion started mainly seeing how my parents worked well together in their business in Angola whereby they created their own perfume brand many years ago when it was not accessible to recreate your own. Then, when we moved to South Africa, seeing my mom run one of the first Congolese Restaurants all by herself from cooking to serving to cleaning and stocking, before employing a helper once the business grew. After the death of my father, my mom started fixing tyres for a living to send us to school. Seeing a woman fight so much, I realized the power that we women have and that alone inspired me to look outside the box and see the blessing in my hands.

What are your future plans and aspirations for your company?

Becoming a global luxury African lifestyle brand that inspires everyone to embrace their natural beauty and is accessible to people everywhere.

What gives you the most satisfaction being an entrepreneur?

Making women, kids and men feel and look beautiful using organic products.

What’s the biggest piece of advice you can give to other women looking to start-up?

Never stop believing, and when things get tough along the way in your business, just know that blessings are knocking so push harder. Business limitations start with your mind so stay positive and never allow a setback to be permanent.

Contact or follow Vuvu Organic Beauty

WEBSITE | FACEBOOK | INSTAGRAM | EMAIL vuvuorganicbeauty@gmail.com





Source link

Lioness Launch / Takora launches new professional CV writing platform in South Africa — Lionesses of Africa



What makes Takora different is that it understands the importance of having a professional, interview winning CV and why it is a necessity in any job search. Founder Kabwe Gondo says, “Your CV is your tool of achievement. It is your sales pitch and potentially your only opportunity to sell yourself to an employer. TAKORA is bringing a new perspective on CV Writing and our quest is to retain applicant’s dignity by offering a service (CV) that reflects who they are and allowing them through the process of CV Writing in order to understand their career goal and ensuring that information reflects on their CV.”

Even though Takora is an online platform, it has a trusted designated team of professionals with decades of experience in CV Writing content to ensure a smooth process. So what makes it different is that the team members are all content writers, they focus on keywords that are compatible to ATS, and they are constantly up to date with new ways of CV Writing.  In addition, Kabwe believes that their prices are highly competitive, accompanied by monthly promotional drives to accommodate applicants who cannot afford to pay the full amount.

Kabwe says that the aspiration for Takora is to assist more than 100 applicants by the end of 2021. She believes that if people invest in themselves, the rewards will be immeasurable. 

Those interested in the Takora CV writing service can visit the company website which is safe, secure, and with an easy payment gateway https://www.takora.co.za/

To find out more, contact founder Kabwe Gondo via email: info@takora.co.za or visit the  Takora social media platforms:

FACEBOOK | TWITTER | INSTAGRAM | LINKEDIN





Source link

Embrace the Unknown and Unlock Your Hidden Genius by Victoria Labalme — Lionesses of Africa



Book Review

Every entrepreneur is in search of inspiration – an innovative idea to elevate their business. In Risk Forward: Embrace the Unknown and Unlock Your Hidden Genius by author Victoria Labalme, she helps you to discover how to embrace uncertainty, trust your intuition and achieve success.

In her new book Risk Forward, presentation strategist and performing artist Victoria Labalme shares her experience of working with over 700 organizations, entrepreneurs running multimillion-dollar businesses and Hollywood celebrities. She’s found that some of the most successful companies and creative endeavours didn’t start with a plan or a goal. They started with an idea and figured out the next steps as they went. In Risk Forward, she helps you do the same in your own life and work, giving you permission not to know exactly where you’re heading. Victoria uses principles drawn from the performing arts to prove that uncertainty is not the enemy, but a crucial step on your unique path, and to show that even when your plans and goals aren’t clear, you can follow your curiosity, interests and ideas forward. 

In Risk Forward, you’ll learn how to:

  • Discover the ‘noble intent’ behind your work

  • Follow ‘the idea that leads to the idea’

  • Trust your own internal timing

  • Listen to others – but not too much

  • Defy your category while remaining within it

Author quotes

Some people in life know exactly what they want to achieve, Risk Forward is for the rest of us.

If you’re struggling to figure out your next steps on a project, plan or path. If you sense there’s something more but you’re not yet sure what it is. If you wish you had more courage to try something new. Risk Forward will help you find your way.

It’s time to step into the full extent of who you are and all you can become.

About the author

Author of the book, Risk Forward, Victoria Labalme helps people unlock their hidden genius and perform at their highest levels in work, onstage, on camera, and in life. Her unconventional approach offers a surprising blend of art and business. As a member of the Speaker Hall of Fame, Victoria is known for her Keynote Performances and workshops around the world. Her proprietary systems and strategies have been embraced by hundreds of thousands of people: Entrepreneurs, artists, consultants, healers, advisers, professors, scientists, executives and more than 700 organizations including top team members at Starbucks, Microsoft, Intel, Verizon, Coca-Cola, Cisco, Oracle, Chase, Lowe’s, L’Oreal, PayPal, American Heart Association, MetLife, Blue Cross Blue Shield, the World Bank, universities, cultural institutions, and not-for-profits.

Victoria has been the trusted consultant to C-suite executives, leading entrepreneurs, artists, and New York Times best-selling authors. She has coached hundreds of elite individuals for high-stakes presentations including keynotes, live streams, PBS Specials, Oprah’s SuperSoul Session, and arena events. Her films, performances and theater projects have received critical acclaim from The Hollywood Reporter, The New York Times, Variety, BBC, CBS, Los Angeles Times, and Good Morning America. Victoria is the founder of Risk Forward® and Rock The Room®, a full suite of products designed to help individuals and organizations uncover their original ideas and express them with the unexpected twist that distinguishes their work.

www.riskforward.com 



Source link

Nondumiso Pikashe, a South African entrepreneur creating a proud indigenous wine brand (2021) — Lionesses of Africa



Impact Partner Content – Absa

Exciting things are happening in South Africa’s winelands with a new generation of entrepreneurs making great wines for the local and global market place and building new brands to watch. Ses’fikile Wines, founded by Nondumiso Pikashe, is one brand making a name for itself and winning fans both locally and abroad.

Ses’fikile Wines is one of the 117 companies showcased at the Absa Lionesses Xpo. Lioness Weekender chatted to its founder, Nondumiso Pikashe, a passionate wine brand creator about her entrepreneurial journey and vision for the future.

What does your company do?

Ses’fikile is an IsiXhosa concept which means “we have arrived.” This celebratory phrase narrates a journey which is continuous. It is a story characterized by trials and tribulations yet looks positively to the future. This is a story of a teacher who got into the wine industry with her entrepreneurial spirit. Ses’fikile wines borrows from this background. We produce wines under the Ses’fikile and Matriarch labels. Our wines are for both the domestic and export markets. We collaborate with distributors for ease of access to markets. Our target market is LSM 6-10 with channels being hotels chains, restaurants and event management companies. We also cater for intimate groups for private wine tastings and food pairings. We are looking for partners to expose young people from the townships to career paths in the obscure wine industry and inversely educate them about alcohol abuse.

What inspired you to start your company?

My Grandfather raised my mother and her siblings through his struggling business in the early 30s in Langa, Cape Town. I was drawn to the wine business in particular because of its mystery. My curiosity and what I discovered made me not look back.



Source link

Lynda Aphing-Kouassi, a catalyst for human capital optimization in business — Lionesses of Africa



Lionesses of Africa had the pleasure of meeting with Lynda Aphing-Kouassi in Abidjan and learning more about this highly focused and growing business that is making a real impact in the human capital development space in Africa and beyond.

What inspired you to start your business?

As a rigorous and daring woman, a member of the board of directors of the African Diaspora Network (ADNE) in Brussels, the Organization Talents Within (non-governmental organization in Atlanta), the Institute of Directors of London (IOD), and the certified Learning Performance Institute of the World Bank, I decided to return to the fold and create my company in 2015. My aim was to share my experience and thus contribute to the development of the continent, and to the empowerment of women and young people through mentoring, coaching, training which are for me formulas of excellence, development. Also through the annual conference on infrastructure and construction that we have been organizing since 2015 and the creation of the central house for SME’s acceleration.

Why should someone use your service or product?

Our passion for the development of human capital is tangible and gives credibility to our activities and services. The optimization of your human capital requires on the one hand the convergence between the personal objectives of your employees (freedom of expression-image-measured recognition search), and on the other hand the development of the culture and the vision of the company business. The solution lies in the capacity building that we offer through, and qualifying training in partnership with, the American University of Cairo. Kaizene international firm also gives you the means through it centralized shared services / accelerator to focus on your sector of activity, your competitiveness and your level of productivity, your strategy, your human resources and talent management in order to optimize your returns.

Speaking of shared services (Kaizene Shared Services), Kaizene offers a solution mainly dedicated to Small and Medium-sized Enterprises, Organizations and NGOs faced with the difficulties of recruiting qualified and experienced personnel whose recruitment and retention costs are difficult to bear, but also presents the opportunity to accelerate these entities. Kaizene Shared Service is a solution that offers the possibility of joining a community, of doing Co-Development, benefiting from a research, translation and business center. Members have access to a pool of experienced shared collaborators responding to the challenges of human resources and of having access to co-working space fitted with last generation equipment. This centralized and structured solution, which is a powerful and pragmatic approach to professional development, will allow entities to increase their productivity and their efficiency by improving their services and reducing costs.

It is important to note that the COVID-19 pandemic has accelerated the awareness of the need to collaborate among Africans and then internationally. Based on this observation, we are proud to offer for more than six years institutional conferences of an economic growth character allowing us to have constructive exchanges aimed at finding solutions favoring the achievement of our self-sufficiency, while emphasizing the inclusion of women and young pillars of African development. Our tailor-made service proposals take into account the business environment, the market in which companies operate their vision and goals, in order to meet specific needs. It is therefore fair to say that all services are complementary and an asset for any firms wishing to work with us.

Tell us a little about your team

I am surrounded by a young, dynamic, rigorous and fantastic team who have been with me for several years. This team understands the company and its culture, it is idealistic and creative but it is also dynamic to fight, develop the company and for us to create the leaders of today and tomorrow. They are the backbone of the company and work with complete autonomy and independence, ensuring that the work is carried out on time and beyond expectations. We uphold the values of Excellence, Ambition, Innovation, Efficiency, Identity and Commitment. I am really proud of them.

What are your future projects and aspirations for your company?

To help companies and organizations to unlock their potential and simplify their activities through the agility and quality of our services for optimizing returns and inclusive and sustainable growth. We also planning on accelerating a large number  of SME’s and open offices in other countries with a larger competent team.  

What gives you the most satisfaction as an entrepreneur?

I am proud to have played a role in the evolution of the continent and I aim further by continuously making decisions that have the capacity to positively change people’s lives. To inspire our youth which is for Africa a key element of its evolution and other women to do more. Finally my contribution to a change of mentality and job creation.

What is the biggest advice you can give to other women who want to get started?

Work hard and with dedication, believe in yourself, stay true to yourself, be happy for other successful women, support them and be humble, don’t try to impress anyone or society, have a clear vision and don’t let society or situations obscure that vision. Despite the obstacles, stay strong, you will get there because you have no other choice.

To find out more about Kaizene and its work, send an email to Lynda and her team at contact@kaizene.org or visit the company website: www.kaizene.org 



Source link

Now is the time to focus! — Lionesses of Africa



By the Lionesses of Africa Operations Dept 

The world famous free solo (alone and with no rope!) climber Alex Honnold as pictured above (whilst climbing the face of the world’s most famous rock, the 3,200ft El Capitan in Yosemite National Park) yes, we’ll just say that again – with no rope, says that often his most dangerous moment on any climb is just before the end when the climb starts to level off towards the top of the mountain and he starts to relax. That is when he is far more likely to slip and fall than when he is vertical, clinging to a crack a thousand metres above the ground. See the terrifying trailer from National Geographic here of the film by Jimmy Chin of this amazing assent. The film, “Free Solo” even won an Oscar for best documentary.

This is often true in business. One of the most dangerous times in a business’ life is when you have been through the tough times, perhaps even to the brink of bankruptcy. The sun starts to shine once more, business returns, customers wake up, we relax and the sales staff act like they are a child alone in a sweet factory, and customers having been so good while you pushed them to pay during the dark times, now forget where the cheque book is… We have all been there (perhaps without even realizing it), as the light we see at the end of the tunnel suddenly becomes not the exit, not the spring of a new dawn, but yet another train hurtling towards us.

Alex has been quoted as saying that climbing and especially free solo is very much like the entrepreneurial life, mainly because in climbing you have to make a conscious decision to move up. To fight against gravity. To move one hand and one foot higher. Nothing (good) happens in climbing without a conscious decision. Likewise building a business, there are very few who just left things to their own devices and then woke one morning to find they were successful. As Alex says, skiing is different, gravity takes you down hill, so conscious or not, down is where you are going, but climbing and entrepreneurship is a conscious effort of will-power, skill, preparation, training (anyone thinking skiing also takes a lot of skill, preparation and training has not seen our Head of Finance (‘HoF’) on the slopes – gravity rules…) and inner strength.

So why this warning of the dangers of relaxation at this time?

One of the main fears of any business is uncertainty and volatility. We have often quoted the Arabian curse in the last 12 months: “May you live in interesting times” and a curse it is, especially for businesses. Business leaders need consistency, calm markets and security of supply in order to plan, grow and thrive, and anything ‘interesting’, anything ‘out of the ordinary’, often throws a spanner in the works.

So where are we still seeing issues?

1. Covid is not over. 

Africa as a whole seemed to weather the first wave surprisingly well, but the second wave is a different story. As the Lancet says (here): “Our analysis showed that the African continent had a more severe second wave of the COVID-19 pandemic than the first…”. In some parts of the world and with the new variants some countries are slipping into a third wave such as Germany, report here…It is not over.

The vaccine rollout is going well in some ‘western’ countries such as the UK, and indeed in the USA, President Biden has just announced that having promised 100 million jabs in his first 100 days, they will in fact do 200 million jabs in his first 100 days. But behind this good news, vaccine wars are breaking out amongst the rich countries creating a disjoin between them and the developing world –  the less well off countries are now left with the realization that they are expected on the whole to wait and hope.

The cheapest vaccine on the market, the Oxford/Astra Zeneca, which is being sold at ‘cost’ for humanity and especially aimed at the developing world given the lower cost and zero profit for the company, has sadly become part of a serious EU vs UK spat. This has  resulted in millions of these vaccines being hoarded, not being used with a public unsure and unwilling to use , yet with the governments themselves refusing to export them to other countries… 

Covid continues to change and adapt. We have had the English variant, the South African variant, the Brazilian variant, and now in India we are seeing a variation on a variant. As each of these come out the nervousness increases as companies and governments wait to see if the current vaccines will still work.

2. Banks are still unwilling to lend.

As we have discussed before, lending from banks into SME’s in Africa continues to be highly restrictive (if you can even get a loan of course) and often with 200% personal collateral. When we wrote last about this (here), according to The World Bank, the average amount of collateral required was 213%, and that’s an average across all firms, not just SME’s and certainly not amongst Lioness businesses!

Determined to control their non-performing loan ratio and to keep it below certain levels, Banks are protecting their loans by concentrating on those companies to which they have already lent (historically a male dominated list). If you are not already a borrower, then you have to join a very long queue…

3. World trade is disjointed. 

What do we mean by that?

One of the biggest costs in trade is the return journey. If you ever spend time talking to logistics companies, it is not your trip they worry about. Dar es Salaam to Nairobi is easy, but they will spend the next week desperately finding the ‘return trip’. Nothing is worse than taking an empty truck back. What a waste of time and cost. 

When Covid struck and the world closed, this problem became real across the globe. Ships were stuck in huge ports around the world, but as the world reopened (with China first), ships in Los Angeles or Long Beach still idle, the USA closed, quiet or sluggish, there were no natural return journeys. Meanwhile in China ships were filling up fast and heading to the USA. It was as if all trucks had stopped in Nairobi having run out of Diesel, yet the Diesel was sitting in Dar es Salaam…This added and still adds to shipping costs.

Containers also were affected. In our example above, the USA was full of empty containers, yet these were needed by the factories in China. This added and still adds to shipping costs.

Certain of our members will have noticed recently that the cost of plastic has risen – same issue, plastics are either in the wrong port looking for a container and then searching for a ship, or the factories themselves have issues. This is especially true in the USA one of the world’s largest manufacturers of Plastic resins. Unplanned outages due to a huge winter storm called ‘Uri’, on the back of the pandemic, coupled with planned outages left the plastics market gasping for supply across the globe.

As reported on Bloomberg (here): “At the root of the problem lie a series of factors ranging from plants being shut down, the winter storm in Texas and the global shortage of shipping containers — which got thrown off their usual routes due to the pandemic. Add to that the strong economic recovery in Asia and demand for consumer goods in the U.S., and companies are at pains to secure supplies…

As if that wasn’t bad enough (although will at last prove the British correct in their automatic panic buying of Toilet Roll whenever there is a global issue) – yes, Toilet Roll could be the next hit by the lack of containers, see here, again from Bloomberg… There is a company in Brazil that supplies about a third of the hardwood pulp that goes into Toilet Paper, but are unable to find the necessary ‘break-bulk’ cargo vessels. You have been warned!

How can you plan for these events?

Answer is you simply cannot, but if 2020 has taught us anything, increased uncertainty, increased volatility of prices and increased nervousness means you as a business leader have to be extremely careful at this moment. We are not out of the woods yet, there is light at the end of the tunnel, but it is so far away that it could very certainly be another train coming towards us.

So what can you do? Expect the unexpected, keep your company as cash rich as possible. Twelve months ago, seeing the huge terror in Italy we gave you the same instructions – put ‘she who will not be moved’ onto debt collection FAST, ‘fair but firm’ being the instructions she must have from you – now is not the time to tell her to relax. You won’t go bust with cash in your bank, but going bust with a nice full warehouse, now surely that’s just daft!

For your sales staff, selling is great, but they must avoid stuffing the now empty warehouse that you worked so hard to empty, with gleaming new goods, keep a strong hold on the inventory. Allow it to grow with a plan, any ‘straight in, straight out’ sales should be celebrated. Banks are not your friend, they are there for their shareholders and because of this low NPL ratios.

But seriously what else could possibly go wrong? Surely we are at the end of the tunnel?… and then this happens:



Source link

Beyond their day jobs in the world of Tech, 7 women unpack their private passions sharing their ‘how’ and their ‘why’ — Lionesses of Africa



Location: Lagos 

VP, Growth at Software company and founder, Biamo Maternity Designs 

Her How: Leverage your relationships

Seun Runsewe is a popular name  in Nigeria’s vibrant tech industry having worked with brands such as Paystack and OPay. Her strides in the industry trail her path and she is well respected for leading the development of products, go-to-market strategy and facilitating adoption and growth of new products. 

However, this isn’t all there is to Ms. Runsewe whose path to entrepreneurship began from a need to create wealth. “I recall visiting the University of Pennsylvania in the US and thinking to myself, I want my son to go here. Now, given the valuation of our currency and all the other factors that accrue to a typical employee in Nigeria, I knew I needed to make wise investment decisions and find ways to create wealth to make this a possibility” says Seun, mother of one. 

“Biamo designs was inspired by my son, it is a maternity brand which caters to moms providing eco-friendly nursing pads, seamless nursing bras, nursing tanks and the list goes on.” The brand is stocked in Medplus pharmacies in Lagos, and soon,  Ibadan, Port-Harcourt and Abuja. 

Beyond selling to mums, Seun is also an advocate for sharing information she has acquired over the years to help mums and women on their journey to wealth creation. Through her ‘Poised for Wealth’ podcast, she’s able to accomplish that. She also hints that a digital bank for mums is underway as she is currently working to build one.  “A lot of women in our society are not clued in on investment options or management of their finances, I want to help the mum community with that because it’s not just about us, we have a whole generation to look after”. 

On her key tip for balancing her various outlets and her equally important day job, she has this to say: ‘There is help, build a pipeline and leverage your existing relationships. Where you need to, create new ones. Partnerships have been my saving grace”



Source link