Posted by Africa Breakfast Club on December 3, 2013 , under Dickens Sanomi Foundation, gho Charles Sanomi, Taleveras Group
Mr Sanomi entered the world of business shortly after completing his Bachelor’s Degree in Geology and Mining at the University of Jos in Northern Nigeria. He rose quickly to the position of Executive Director with Sarian Oil and Cosmos Oil AG, an international Oil Trading Company with its core activities in West Africa. During his time in this role he single handedly developed the company’s trading operations by negotiating the export and delivery of fuel oils from West Africa to the United States Gulf Coast. He also developed a strategic alliance with a major international oil trading group based in Zug, Switzerland. This partnership oversaw the import and export of millions of tons of refined petroleum products to and from the West African coast.
Mr Sanomi is the CEO of the Taleveras Group he founded in 2004. Mr Sanomi is also Chairman of the Dickens Sanomi Foundation board of Trustees, Dickens Sanomi Foundation is a non profit charitable organisation which he founded in memory of his late father. He also sits as Chairman and Co- Chairman of various companies Board of Directors, which he founded or co-founded. These companies activities span from Telecom to Shipping, Aviation and Real Estate Investments worldwide.
His vision and drive has turned the Taleveras Group into a internationally recognized energy and power conglomerate, with offices in London, Geneva, Cape Town, Dubai, Ivory Coast, Abuja and Lagos. Visit the business page to read more about Mr Sanomi’s current business activities.
Igho Charles Sanomi II is the young, dynamic founder and Chief Executive Officer of the Taleveras Group, an internationally recognized energy and power conglomerate with offices in London, Geneva, Cape Town, Dubai, the Ivory Coast, Abuja and Lagos. He also acts as Chairman or Co-chair on the boards of companies with interests as diverse as construction, telecommunications, shipping, aviation and real estate.
As the driving force behind the Taleveras Group, Mr Sanomi has been instrumental in the expansion and diversification of the company’s operations. Annually, the Taleveras Group trades hundreds of millions of crude oil barrels and millions of tons of fuel oil, jet fuel, gasoline, condensates and liquefied petroleum gas. The company’s oil exploration and recovery activities include the acquisition of production sharing contracts (PSCs) for three offshore oil blocks in Ivory Coast and rights to a further two oil blocks in Nigeria.
In the power sector, Taleveras Group is working in partnership with Nigeria’s Federal Capital Development Authority on the construction of several electrical substations. Additional substations are also under construction in the Niger Delta region as part of the National Integrated Power Project. In 2010 the Taleveras Group coordinated a number of well known power industry suppliers to construct an 185MW power station and distribution substation. The second phase of this project, involving the delivery of a further 200MW capacity is currently in progress. Most recently, the Taleveras Group lead a consortium that acquired a majority stake in the Port Harcourt Electricity Distribution company via a process of competitive tender. This company will be responsible for the distribution of more than 2,000MW of power in River State, Nigeria.
In his role as CEO, Mr Sanomi ensures that the Taleveras Group is always focused on activities that deliver social and economic benefits to the regions where they take place. Thanks to his strong leadership the Taleveras Group shares Mr Sanomi’s personal ideals of ethical conduct, humanitarianism and environmental sustainability.
Posted by Africa Breakfast Club on November 29, 2013 , under Phillip Chiyangwa businesses, Phillip Chiyangwa divorce, Phillip Chiyangwa investments, Phillip Chiyangwa properties, Phillip Chiyangwa Wealth;phillip chiyangwa mansion
BELOW is the full list of Phillip Chiyangwa’s properties, businesses and other investments according to a divorce petition filed by his wife, Elizabeth, at the High Court in Harare. LIST OF SUBSTANTIAL MOVEABLE ASSETS AS KNOWN TO WIFE BELOW is the full list of Phillip Chiyangwa’s properties, businesses and other investments according to a divorce petition filed by his wife, Elizabeth, at the High Court in Harare.
LIST OF SUBSTANTIAL MOVEABLE ASSETS AS KNOWN TO WIFE
1. Chrysler Cross Fire motor vehicle valued at approximately $50,000
2. Range Rover Vogue motor vehicle valued at approximately $60,000
3. A Jeep motor vehicle valued at approximately $120,000
4. Chrysler Sebrin motor vehicle valued at approximately $60,000
5. Ford Ranger motor vehicle valued at approximately $70,000
6. Mercedes GL6 motor vehicle valued at approximately $300,000
7. A Bentley motor vehicle valued at approximately $350,000
8. A Rolls Royce Phantom motor vehicle valued at approximately $475,000
9. A fleet of Mercedes.
10. Substantial household goods and effects valued approximately $200,000
LIST OF COMPANIES IN WHICH HE HAS MAJOR SHAREHOLDING
1. Linchen Dale Village (Pvt) Ltd
2. Padley Investments (Pvt) Ltd
3. Magnet Metal & MFRS (Pvt) Ltd
4. Native Investments Africa Group (Pvt) Ltd
5. Pinnacle Property Holdings (Pvt) Ltd
6. Rectitude Investments (Pvt) Ltd
7. Rural & Urban Investments (Pvt) Ltd
8. Total Communications (Pvt) Ltd
9. Tainbos Investments (Pvt) Ltd
10. Phillip Chiyangwa Family Trust (Pvt) Ltd
11. Bovine Hides & Sign Procurement @ Export (Pvt) Ltd
12. Sensene Investments (Pvt) Ltd
13. Dispark Enterprises (Pvt) Ltd
14. Raulgrade Investments (Pvt) Ltd
15. Kiliman Investments (Pvt) Ltd
16. Brighthouse Investments (Pvt) Ltd
17. Kenwood Investments (Pvt) Ltd
18. Gabroc Enterprises (Pvt) Ltd
19. Jetmaster (Pvt) Ltd
20. Ripley (Pvt) Ltd
21. G.A. Investments (Pvt) Ltd
22. Shawdene (Pvt) Ltd
23. Ukubambana-Kubatana Investments (Pvt) Ltd
24. Building Suppliers (Pvt) Ltd
25. Stoneridge Estate
26. Pledgwick (Pvt) Ltd
27. Clear Horizon Creations (Pvt) Ltd
28. Halgor Estates (Pvt) Ltd
29. Finwood Investments (Pvt) Ltd
30. Value Quest Investments (Pvt) Ltd
31. Carey Farm (Pvt) Ltd
32. Ndarama Assets Management (Pvt) Ltd
33. Silkwood Engineering (Pvt) Ltd
34. Worldwide Investments (Pvt) Ltd
35. Ecofin Asset Management (Pvt) Ltd
36. Smasvalve Enterprises (Pvt) Ltd
37. Kufela Investments (Pvt) Ltd
38. Critall Hope Limited (Pvt) Ltd
39. Glory Car Hire (Pvt) Ltd
STANDS, FARMS ETC
________________________________________ Advertisement ________________________________________
1. Stand 422 Quinnington Township of Lot AD Quinnington measuring 4128 square metres, Salisbury DT 8683/97, DT 7155/2002.
2. Stand 707 being remainder of Subdivision C of the Grange measuring 60, 6869 hectares held under DT8322/2005.3. Stand 2453 Hatfield Township of Subdivision D of Subdivision B of Hatfield held under DT2686/2009 dated 22 May 2009.
3. Property held under DT 1001/2007.
4. Remainder of Stoneridge in Salisbury measuring 586, 7149 hectares held under DT 5428/2001.
5. Lot 1 of stand 223 of Quinnington township of Lot 1A Quinnington measuring 1, 6239 hectares held under DT 5929/1971, DT 3840/1988, DT 5418/2005 dated 23 June 2005.
6. Stand 19682 Harare Township of Stand 19675 Harare Township measuring 6, 1884 hectares held under DT 2037/59 dated 16 April 1959, DT 2688/09 dated 22 May 2009 and DT 5128/09.
7. Lot 1 of Lot 16A of Reitfontein measuring 4164 square metres held under DT 216/2013, DT 1614/58 and DT 1862/87 dated 26 March 1987.
8. Stand 65 Colne Valley Township 5 of Lot 7A Colne Valey measuring 7,5956 hectares held under DT 2037/59 and DT 2888/2009.
9. Stand 19682 Harare Township of Stand 19675 Harare Township measuring 6, 1884 hectares held under DT 2685/2009.
10. Stand 3789 Salisbury Township of stand 4450 Salisbury measuring 9959 square metres held under DT2685/2009.
11. Lot 3 of Delnadamph Estate measuring 5, 105 square metres held under DT 2683/09.
12. Stand 2453 Hatfield Township of Subdivision D of Hatfield measuring 2, 2876 hectares held under DT 2686/2009.
13. Stand 389 Derbyshire Township of Subdivision E of Derbyshire measuring 25, 8304 hectares held under DT8209/99.
14. Lot AD Quinnington measuring 5, 4867 hectares.
15. Stand 426 Quinnington Township of Lot AD Quinnington measuring 4002 square metres held under DT3532/56, DT 2770/83 and DT 8687/97.
16. Stand 402 Quinnington Township of Lot AD Quinnington held under DT 3499/93, DT 2770/83 and DT 750/2002.
17. Stand 3701 Salisbury Township of stand 4450 Salisbury measuring 1190 square metres held under DT 3455/48 and DT 5525/2007.
18. Property known as 26 Fleetwood Road, Alexandra Park.
19. Stand 120 Quinnington Township of Subdivision K of Quinnington of Borrowdale Estate measuring 86223 square metres held under DT3248/48, DT 785/56 and DT 7831/87.
20. Stand 121 Quinnington Township of subdivision K of Quinnington Township of Borrowdale Estate measuring 8135 square metres held under DT 3248/48, DT 3993/78 and DT 6855/85.
21. Stand 311 Quinnington township of lot 1A Quinnington measuring 23632 hectares held under DT 5285/73, DT 5897/85 and DT 2658/2002.
22. Subdivision 1 of Wilbered in Zvimba District of Mashonaland West Province measuring 1331.20 hectares.
23. Remainder of Stoneridge measuring 586, 7149 hectares held under DT1465/75 and DT5428/01.
24. Subdivision A of Subdivision A of Stoneridge measuring 13, 4188 hectares held under DT 25369/30, DT 1465/75 nad DT 5428/01.
25. Subdivision A of Odar measuring 8, 2283 hectares held under DT 25703/30, DT 1465/75 and DT 5428/01.
26. Subdivision 1 OF Sinoia Citrus in Makonde District of Mashonaland West Province measuring 3477 hectares.
27. Lot 1 of Lot 1 of Fern Rock Block C of Hatfield Estate measuring 40952 sqm held under DT 391/58 and DT 392/58.
28. Stand 532 Derbyshire Township of Shortson measuring 7 544 square metres
29. Piece of land in Salisbury Shortson measuring 72 3652 hectares held under DT 2685/94 and DT 6238/2004.
30. Property in Chinhoyi held under DT 1674/63
31. Sinoia Drift Farm, Chinhoyi measuring 901, 05 hectares held under DT 5709/85.
32. Sangwe farm, Chinhoyi measuring 845,67 hectares held under DT109/29.
33. Olympus farm, Chinhoyi measuring 2812,86 hectares.
34. Old citrus farm, Chinhoyi measuring 1416, 124 hectares held under DT 1674/63
35. Strathcona farm, Chinhoyi measuring 1416,124 hectares held under DT 3924/94.
36. North Umzari farm Chinhoyi measuring 600, 217 hectares.
37. Remainder of subdivision A of Stoneridge measuring 589,5874 hectares held under DT 1567/46, DT 3634/03, DT 5021/07 and DT 5631/07.
38. Remainder of subdivision A of Stoneridge measuring 586,8960 hectares held under DT 5021/07 in favour of Pinnacle Holdings (Pvt)Ltd.
39. Lot 11 of Lot AB Quinnington measuring 8902 square metres held under DT4011/2002
40. Lot 1 of stand 223 of Quinnington township of Lot 1A Quinnington measuring 1, 6239 hectares held under DT 5418/05 and DT 1247/12.
41. Property held under DT 5021/2007.
42. Remainder of Thornicroft park of Galway Estate measuring 17, 3104 hectares held under DT1965/45, DT 1540/2010, DT 1539/10 and DT 2193/86.
43. Stand 424 Quinnington township of Lot AD Quinnington measuring 4002 square metres held under DT 8685/97 and DT 7158/2002.
44. Property otherwise known as No. 11 Crowhill Road, Borrowdale.
45. Stand 420 Quinnington of Lot AD measuring 4003 square metres held under DT 8681/97 and DT 7153/2002.
46. Stand 419 Quinnington of Lot AD measuring 4002 square metres held under DT 8680/97 and DT 7152/02.
47. Stand 427 Quinnington of Lot AD measuring 4002 square metres held under DT 8688/97 and DT 7161/02.
48. Stand 421 Quinnington of Lot AD measuring 5281 square metres held under DT8682/97 and DT 7154/02.
49. Stand 418 Quinnington measuring 4056 square metres held under DT 8679/97 and DT 7151/02.
50. Stand 423 Quinnington measuring 5933 square metres held under DT 8684/97 and DT 7157/02.
51. Stand 425 Quinnington measuring 4002 square metres held under DT 8686/97 and DT 7159/02.
52. Stand 426 Quinnington measuring 4002 square metres held under DT 2770/83, 8687/97 and DT 7160/02.
53. Stand 422 Quinnington measuring 4128 square metres held under DT 8683/97 and DT 7155/02.
54. Stand 428 Quinnington measuring 4048 square metres held under DT 8689/97 and DT 7156/02.
55. STAND 3052 Bluffhill Township of Lot 13 of Bluffhill measuring 3, 7919 hectares held under DT4940/2006.
56. Remainder of Lot H Borrowdale Estates situated in the district of Salisbury held under DT2844/90.
57. Remainder of stand 24 of Lot C of Borrowdale Estate measuring 1, 0959 hectares held under DT 11252/2003.
58. Remainder of Lot 1 of stand 24 of lot C Borrowdale estate measuring 4067 square metres held under DT 3212/2003.
59. Properties under Brighthouse Investment P/L.
60. Stand 3523 Chinhoyi Township measuring 850 square metres in district Lomagundi held under DT 6952/2006.
61. Stand 418 Quinnington measuring 4056 square metres held under DT 8679/97 and DT 8656/05.
62. Property held under DT3840/1988.
63. Property held under DT 5418/2005.
64. Stand 7753 Salisbury Township of stand 4839 Salisbury Township measuring 2, 1194 hectares held under DT 9423/2000 and DT 1771/2003, Phillip Chiyangwa Trust.
65. Stand 625 Mandara Township 16 of Lot 7A Mandara measuring 6, 6867 hectares held under DT 1592/75 and DT 3432/2009. Pinnacle Property P/L.
66. Stand 2453 Hatfield Township of Subdivision B of Hatfield held under DT 2686/2009 and DT 2688/2009.
67. Stand 19682 Harare Township of stand 19675 measuring 6, 1184 hectares held under DT 2614/2009.
68. Stand 3789 Salisbury Township of stand 4450 Salisbury measuring 9959 square metres held under DT 2685/09.
69. Remainder of Lot 3 of Delnadamph Estate measuring 5105 square metres held under DT2683/2009.
70. Stand 65 Colne Valley Township 5 of Lot 7A Colne Valley measuring 7, 5956 hectares held under DT 2037/59.
71. STAND 19682 Harare Township of stand 19675 Harare Township measuring 6, 1884 hectares held under DT2614/2009.
72. Stand 3789 Salisbury township of stand 4450 Salisbury township measuring 9959 square metres held under DT 2685/2009.
73. Remainder of Lot 3 Delmadamph estate measuring 5105 square metres held under DT 2683/2009.
74. Stand 2453 Hatfield Township of subdivision b Hatfield measuring 2, 2876 hectares held under DT 2686/2009.
75. STAND 389 Derbyshire township of subdivision E of Derbyshire measuring 25 8304 hectares held under DT 8209/99.
76. Property held under DT 2888/2009.
77. Property held under DT 2688/2009.
78. Stand No. 7753 Salisbury Township of portion of stand 4839 Salisbury Township of Salisbury Township Lands held under DT 2246/47 and DT 9423/2000.
79. Lot 57 of Meyrick Park of Mabelreign in Salisbury measuring 1, 0553 hectares held under DT 2460/96 and DT 8442/90.
80. Stand 3507-3544 Chinhoyi township of Chinhoyi being residential Park medium density housing development of 38 units residential stands measuring 6, 0505 hectares valued at $675,000.00 as at 31 May 2008.
81. Lot 11 of Bluffhill, corner Northolt Drive and Lavenham Drive , East Bluffhill. A cluster of 120 units of residential stands with water supply and sewer connected and borehole drilled measuring 1, 0065 hectares and valued at $5,940 000.00 as at 31 May 2008.
82. Stand 3051 of Bluffhill, corner Northolt Drive and Lavenham Drive East Bluffhill being a cluster development of 57 units with water and sewer connected and borehole drilled measuring 1, 7385 hectares valued at $10,260 000.00 as at 31 May 2008.
83. Stand 3052 of Bluffhill, corner Northolt Drive and Lavenham Drive East Bluffhill being a primary school built on a stand measuring 3, 7919 hectares and valued at $6 300 000.00 as at 31 May 2008.
84. Remainder of Lot 13 Bluffhill, Corner Northolt drive and Lavenham Drive East, Bluffhill being a secondary school with 23 cluster houses and 36 Duplex Flats built on a stand measuring 7, 5291 hectares and valued at $19 300 000.00 as at 31 May 2008.
85. Stand 3341 Kadoma Township (stand 2620-3340 Blue Ranges) Kadoma being a residential development with 693 stands/units measuring 20,7900 hectares and valued at $1 600 000.00 as at 31 May 2008.
86. Stand 1-504 Eyecourt Township of Nyarungu estate being a development with a shopping centre, hotel/motel, and industrial stands measuring 46, 1270 hectares valued at $7 320 000.00 as at 31 May 2008.
87. Stand 389 of Derbyshire Township being a development with a shopping centre and industrial site measuring 7,2287 hectares valued at $1 210 000.00 as at 31 May 2008.
88. Stand 19345 harare township beong a development with residential stands measuring 10, 000 hectares and valued at $5 000 000.00 as at 31 May 2008.
89. Stand 913 Mandara Township being a cluster development of 26 units measuring 3, 1634 hectares valued at $7 840 000.00 as at 31 May 2008.
90. Subdivision C of The Grange (stands 566-712 the Grange Township) off Beeston avenue, a development with a five star hotel, 496 cluster homestead properties and 43 low density residential stands in total measuring 307, 957 hectares and valued at $12 010 000.00 as at 31 May 2008.
91. The remainder of Stoneridge a mixed use development with a shopping centre, institutions and residential developments measuring 586,7145 hectares and valued at $36 150 000.00 as at 31 May 2008.
92. Subdivision A of Stoneridge an agric-residental development measuring 8, 2283 hectares and valued at $1 340 000.00 as at 31 May 2008.
93. Subdivision A of Arda an agri-residental development measuring 8, 2283 hectares and valued at $820 000.00 as at 31 May 2008
94. Stand 289 Willowvale Township, an industrial stand with 14 units measuring 0.9752 hectares and valued at $200 000.00 as at 31 May 2008.
95. STAND 10050 Chinhoyi Township being a hotel site measuring 1.4430 hectares and valued at $220 000.00 as at 31 May 2008.
96. Lot 8 of Hunyani, a hotel site IN Chinhoyi measuring 29.9077 hectares and valued at $4 490 000.00 as at 31 May 2008.
98. Stand 7538 Gweru Township in Gweru, a hotel site measuring 4.9534 hectares and valued at $920 000.00 as at 31 May 2008.
97. Stand 8432 Gweru Township in Gweru, a hotel site measuring 4.5934 hectares and valued at $390 000.00 as at 31 May 2008.
98. The remainder of subdivision A of stoneridge a mixed use development with a shopping centre, institutions and residential developments measuring 586,8960 hectares and valued at $63 480 000.00 AS AT 31 May 2008.
99. The remainder of Arda Farm being a mixed use development with a shopping centre, institutions and residential developments measuring 605,8092 hectares and valued at $75 730 000.00 as at 31 May 2008.
100. The remainder of A of the rest being a mixed use development with a shopping centre, institutions and residential developments measuring 1456,1440 hectares and valued at $36 400 000.00 AS AT 31 May 2008.
101. Stand 625 Mandara Township being a mixed use development with a shopping centre, institutions and residential developments measuring 6,6860 hectares abd valued at $3 340 000.00 as at 31 May 2008.
102. Stand 27406 Masvingo Township being a hotel on a stand measuring 1.9879 hectares and valued at $280 000.00 as at 31 May 2008.
103. A mixed use development with a shopping centre, institutions and residential developments in Kasese Township of Kariba measuring 65, 5325 hectares and valued at $7 910 000.00 as at 31 May 2008.
104. A lodge called Victoria Falls lodge in Victoria Falls built on a stand measuring 0.8000 hectares and valued at $320 000.00 as at 31 May 2008.
105. Stands 418-428 Quinnington Township of Lot AD Quinnington Borrowdale, Harare a development with 12 units of residential stands serviced with 7 boreholes and 3 reservoirs of water
106. Stand 288 Willowvale Township an industrial property measuring 0.6792 hectares and valued at $140 000.00 as at 31 May 2008.
107. Block D Avondale Township being an office complex in Broadlands with 1400 square metres with lettable office space on a stand measuring 0.1980 hectares and valued at $2 800 000.00 as at 31 May 2008.
Posted by Africa Breakfast Club on August 8, 2013 , under ALBERT ESIRI, ALBERT ESIRI Abraka Turf and Country Club, ALBERT ESIRI Ashbert Beverages, ALBERT ESIRI polo
From 1998 to 2008 he was the Non-Executive Chairman of Veritas Geophysical (Nigeria) Ltd, the Nigerian subsidiary of CGGVeritas, where he played an important role in helping the parent company reach an annual turnover in excess of $2.5 billion.
He is the Executive Chairman of Ashbert Oil and Gas Ltd, an indigenous player in Nigeria’s upstream Oil & Gas sector with interests in a number of blocks.
A top international businessman owner of Ashbert industry, Abraka turf and resort, host of the Annual international polo tournament every Easter philanthropist, polo freak Albert is such a great player even though he is just a+2 player you need to see him to believe it, his speed, mastery and skill attest to this, no wonder his team Ashbert raiders carts away with several prices at most polo tournament, he plays polo around the world he was in Argentina where he played alongside Batista Heguy +7 player of the famous Heguy family (Argentina no 1 polo family )with other members of the family which includes Ignacio (+7) ,Eduardo( +8)player Horacio(+8 ) Esiri is welcome at the Heguy family home anytime even the patriarch of the Heguy family is his close friend ,no wonder Esiri wears his argentine beret all the time trademark of the Heguy Patriarch
Esiri spends several millions of naira buying the best ponies around the world; he is also a member of several polo clubs around the world, including the prestigious Ham London polo
Albert Esiri was voted most valuable player Port Harcourt tournament he went to the Lagos international Polo tournament where he showed the stuff that he is made of . He celebrated his victories in grand style as he had his stand where he gave out bottles of champagne freely to everyone who came around, what a way to celebrate victory; When Albert is not playing Polo he is involved with is vast business empire which includes property, petroleum, beverage factory and consultancy for small business development. The Abraka polo tournament comes up during Easter and once more the whole polo world will be in Abraka. Come and see how Esiri has transformed Abraka into a po;o haven. Polo and style salute Albert Esiri.s
Posted by Africa Breakfast Club on , under Africa's Most Successful Female Oil Tycoon, Uju Ifejika, Uju Ifejika Millionaire
1 Their main objectives are to contribute to the nation’s value creation for the well-being of the people, better quality of life, quality products, fair price, job opportunities, while ensuring they operate in a safe and clean environment, with the ultimate objectives of ensuring maximum returns to our shareholders, not forgetting the need to provide International standards and quality Petroleum Engineering, Field Development Planning and Asset Management services to both Marginal Field Operators and IOCs.
Interviewing this remarkable woman who sits at the helm of affairs of this very successful indigenous company was an inspiring and exciting experience. Her warmth, humility, sense of humour and a simple disposition to life came as a shock to me, giving her position and social status. Below is an excerpt of an exclusive chat I had with her.
M.A: Who is Mrs Uju Ifejika?
UJU IFEJIKA: (smiles) that is a good question, I am Mrs Uju Ifejika, born to Chief and Chief Mrs Clifford Ogwu and Elizabeth Ibeze both of blessed memory. My father was an accountant and my mum was a very successful business woman, I think I took after her, and we are ten children , all graduates, I happen to be the 6th of the ten children and the second girl, we have 4 girls and 6 boys all alive and all married with kids
M.A: What was growing up like for you, tell us about your childhood?
UJU IFEJIKA: Growing up was very exciting and fun because my dad was a sub – treasurer as at 1957/58, and you know what that means, that was a very high position at that time because that was before independence and Nigeria didn’t have central bank, they didn’t have all this banks, all they had then was the treasury, treasury was the government bank, so he was the head of treasury. Growing up was fun because I was born into a very comfortable middle class family, because as at that time we lived in the GRA that is the Government Reserved Area from birth and up to the 70s when my dad retired from active service, so we lived all around the country, the north, here in the west, in the east, Rivers, I was born in Opobo in Rivers State, at that time my father was a sub – treasurer in Opobo when I was born and that was 1959. It was fun, because you get to see a lot of people, and then everywhere my dad was posted, he went with the entire family.
M.A: Tell us about your education?
UJU: I had the privilege of going to the best schools because of my dad’s position as the sub treasurer, for my primary education I started off at the central school Nsukka in the 60′s , and then went to the university primary school at Nsukka also, before we left and then went to Awka, and there I went to “Parterson school” in Awka, it was while we were in Awka that the civil war broke out and then we went back to the village , that was the first time we were going to the village we were there for about 3 months, before they starting shelling in Onitsha and we had to move to Onuobi, that was where we were throughout the war. By the time the civil war was over, my dad was posted back to Onitsha so we came back and I went to central school in Onitsha, within that period my dad was again transferred to Umuahia, and I went to UCC primary school library avenue at the GRA in Umuahia and that was where I took the common entrance and I had one of the best result there was at the time, a 36 aggregate score and I got admission to Queens school Enugu which for the eastern state was the best school at the time. I did my secondary school there, and I rose up to become deputy senior prefect before I graduated. Then I did my A levels at Ibadan, and then went to ABU to do a diploma in law in 1980/81, had one of the best 10 results and then we were given admission to do our degree courses, so I read Law in ABU and finished in 1984.
M.A: Why Law?
UJU IFEJIKA: Actually that’s a good question (smiles) my dad actually wanted me to go into medicine, and he encouraged me to go into the medical line and bought me medical books, but by the time I was taking my final exams I had already dropped chemistry and physics, because to me , I need something that will challenge my inner being, I remember by the time the result came out my dad noticed I didn’t have any result in chemistry and physics, he actually told me , there was a mistake with my result, and I told him I actually dropped those subjects but forgot to tell him, he went ballistic, but it was too late, Law was something I have always wanted to do from childhood, and when I got to Ibadan , they offered me sociology in the university of Ibadan , I rejected it and that was why I had to end up doing a diploma in law before the actual degree, and when I finished from Law school I did my youth service in Texaco. Then you had to be very lucky to work in any of those multi nationals as a youth corper, we were just two who served there, and by the time we finished I was retained as a junior counsel and I rose from that position to senior counsel to an acting chief counsel in 1991 and by 1997 I was made the company secretary and that was the first time they had a very young person holding that position, because the position of company secretary at that time is a position held by people who were 50 years and above , I remember when I took up the job, some people said I won’t last long in that position . You see one thing about me is that I like challenges, and I perform better under pressure, other people wobble under pressure, but if you want to see the best of me, it is when i am under pressure. So by the time I got in there I change a lot of things, for instance it was the first time that we put in place online real time share holders trading documentation which I can see on my table or anywhere and know who is transacting on our shares online real time, also with that position was the first time we won the stock exchange merit award for the company, we won that award in the oil and gas category consecutively for 5 years and because they figured I was a multi-talented person, I was given the Company Secretary Public and Government affairs, which again is the first time any person not to even talk of a woman held such a position there and because of what I did with it, by 2003 they extended it to cover West Africa, Nigeria, Togo, Cameroon, Ivory Coast, Congo and Benin Republic. I held those positions until I decided to take an early retirement in 2007.
M.A: Any Particular reason why you chose to build a career in the oil industry after studying law?
UJU IFEJIKA: I am a very loyal person, I’m not one of those people that dance around, in my entire career I found out that the twenty years plus I spent in my career was just with one company, Texaco, and when Texaco merged with Chevron, it now became Chevron Nigeria Plc. Those were the only companies that I worked for, so if they didn’t merge it would have been only Texaco I worked for. Naturally leaving the oil industry, although the downstream sector, because I have never worked in exploration and production, I wanted to try the exploration and production which was the upstream sector. My experience was not deep in the oil industry because I was just a company secretary, and you don’t get involved in marketing operations or in exploration and production but I decided to take a chance and see what it is like.
M.A: What is the story behind Brittania – U?
IFEJIKA: Brittania – U Nigeria limited is an indigenous oil and Gas Company, the company was registered under the Nigerian company and allied matters act on 15th December 1995. The company wasn’t operational until 2001 when the federal government marginal field initiative came into being, and the company bided for three blocks , the Obigwe, Stop creek and the Ajapa and they were lucky they were awarded 100% equity or interest in Ajapa which is OML90. The block used to be a chevron block and by 2003 the block was formerly farmed out to Brittania –U as the operator and farmee. The company signed the farm – out agreement finally in 2003 with Chevron according to the Federal Government terms and conditions. At this point it now became a challenge to take the company from where it was in 2003 after getting the block to where it should be, because part of the conditions of getting the block by the Federal Government, was that you must have a foreign partner and Brittania – U got a foreign partner, at the time it was Synthrolum Inc of Houston USA. They signed a participating agreement with them in February of 2006 then I hadn’t joined them, and by December of the same year , this same company had two other blocks and the companies that the farmed into their blocks didn’t know that they were not really into oil and gas, although they were into GTL (Gas to Liquid), they now wanted to go into oil and gas proper, but when the company farmed it out , they found out that they were having issues at the time and they needed the partnership to beef up their shares at the stock exchange so by December they sold, and the company they sold it to was energy equity resources. Now the moment that happened, the management of Britannia – U decided that they were not going to allow them be the operators and they were not going to allow them to carry them, that the Nigerian company was going to source their own funds. The reason why the company did that was because between January to December of the partnership nothing happened to show that this foreign companies that were coming in where ready to operate in Nigeria, so by the time they sold their interest in December 2006, the company still hadn’t started operating, so by 2007 when I took an early retirement and joined the company, that was in the October of 2007, I told the management that we will have to go and look for money to operate, we were lucky at that time most banks at that time in Nigeria didn’t know anything about oil exploration and production, so they were not ready to deal with indigenous companies , because it’s like the fear of the unknown, so I was lucky that Union bank at that time under the leadership of Mr Ebong gave us a loan of 23 million dollars, although our partners which was Energy Equity Resources could not come up with their own part of the money, so we went ahead to drill, but because at that time, everybody believed that as a foreign company they had the technical competence , we went on with the appraisals that they did and went ahead to use their coordinates and we drilled a dry hole and a whole 23 million dollars went down with it. For someone who has never been an upstream person it was the most difficult time for me because here I was excited about going into something different and then took a hit of 23million dollars not 23 million naira, but that didn’t deter me, the only thing that I did was that I had to call people. One thing people don’t know is that we have a lot of resources in country, there are Nigerians who are very competent, versatile in oil exploration and production but people don’t look for them, so I called around I said “look I’m in crisis and I’m looking for people who can give me new coordinates “so we got some Nigerians , about three of them and I Zeroed in on one , I asked the guy “please can you give me this coordinates “and he said “yes madam but it will take you two weeks” , that was not good enough for me, I had a rig sitting down at 350 dollars a day, and two weeks was not going to work for me, so I told him , I needed the coordinates in 48 hours, he said it wasn’t possible, and I told him it was possible, I said the person you are sitting right in front does not have the word impossible in her books, so don’t you mention it is not possible, what I want you to tell me is how you can manoeuvre and get this thing out in the next 48 hours and that he did. Within 48 they got me new coordinates and 4 days after that we discovered oil. That was the beginning of Brittania – U , you cannot say you are an upstream oil and Gas company when you are not in production, its either you are in partnership or you are an operator. Now the second challenge for us was how we were going to bring the oil to surface, we now went to the IOCs all of them that we went to it was either they didn’t have haulage to take our crude or they did not have separators. So I asked them what other options we had and I was told at that time that we could do a floating production facility and I asked them how much it was, we got people to bid, and I got the very seasoned technical people we had on our board to evaluate the bid coalitions that our people did to know which of them have the competences to give us everything, because we wanted a facility where we can start the process from beginning to finished product. Eventually we came up with a company in the US Star engineering who we now commissioned to do the drawing of the FPSO and we also told them we wanted them to tailor it to meet Chevron standard. Being a Chevron person, I know that chevron has a certain standard which everyone is comfortable with, so what they gave us was 10,000 barrels per day FPSO, it was fabricated and built in Houston Louisiana. We gave them a tight time frame, and we were glad that they built the FPSO from start to finish in seven and half months. From the time we started out drilling from February of 2008 to April of 2008 and commissioned the building of the FPSO from August of 2008, they built it and delivered it March 2009, it was commissioned by the current Senate president, Senator David Mark in Homer Louisiana. As a business person every day you have to be thinking out of the box, so I asked my team, “if we have taken delivery of this FPSO, yes we will produce the crude, it has a 10,000 barrels per production facility with an expansion capacity of up to 20,000 barrels per day, if we do that how do we move the crude from our FPSO the point of production to where we are going to sell it or the customer that we are going to deliver it to,” because if we don’t have control over that chain that might be a very big problem because of the problem in the country at that time , anyone could be a victim of piracy and hijack. Also most times you are looking for a vessel or tanker to use and you find out that most of the Nigerian companies had a huge problem with maintenance, and on the other hand one thing the IOCs will never do is compromise their standards, so I had to buy my own tanker, it was a 78,000 barrel tanker plus a tug boat and with that we could function, we went ahead to sign on a handling agreement with Chevron in 2010, our first crude was produced in January of 2010 and it was to be sold to Chevron.
M.A: For someone who didn’t have a background in petroleum engineering or any experience in the upstream sector of the industry, weren’t you the least afraid of venturing into unknown waters?
UJU IFEJIKA: I think that is one of the biggest problems a lot of people have, u see you are asking me a question, can I ask you a question? You go to sleep everyday knowing fully well that you can sleep, when you are sleep, you are virtually dead the line between death and life while you are asleep is very thin, but you don’t consider it you go to sleep. It’s the same way for me, I have never walked in exploration and production but the only thing I was able to do was to rise above my fear level, because you can imagine someone who came out from a paid job and what I was paid as a severance pay was less than 10 million naira, then for me to go and ask for 23 million dollars from a bank. I’m not a petroleum engineer , I’m not a geologist, I have never worked in exploration and production, but the only thing I know is how to take something that is nothing and create something out of it that you can see and appreciate, for you to be able to do that, you must not look at what people are saying, you should look into your inner intuition because all of us have it, it is you as a person that matters not any other person, because the vision of what you want to do is with you and no one else, and this is what I discovered early in life. Not being an engineer or a geologist was immaterial, today I speak the language of geologist, I can interpret the maps and when they bring in technical things we look at it together.
M.A: What would you say is your motivation and driving force?
UJU IFEJIKA: My motivation is first to exercise that inner hidden strength which all of us have and most times in life we don’t even get to explore it, all of us where born with a vision in Jeremiah 1 God says that “before you were formed in your mother’s womb I knew you, I set your path”, so if God said that, for you that he created, he is a God of perfection and he created you for something, you own job is to discover that and 80 to 90% of us don’t find it on our journey on this planet, some will discover it but the fear factor would not allow us to see it through. For me the motivation is , as an individual, a human being created by God there’s no word “impossibility”; in my book. The only thing that is impossible is waking a dead man but every other thing is possible my dear.
M.A: What do you think are the challenges entrepreneurs face in Nigeria today and what solutions do you proffer?
UJU IFEJIKA: You see a lot of people that claim to be entrepreneurs are not entrepreneurs, an entrepreneur’s job is to create, but what you have are mostly copy – cats, just because someone is producing a particular product and its selling , doesn’t mean you should get up and say you want to do the same. You can succeed to a point but that product might be the vision of the person who started it. For Nigerians they should know that everyone has his or her own uniqueness, there are things you have passion for, go and look for that passion and then get it right, that is the first challenge, the second challenge would be how to raise money, some people are very scared to take loan, I am indebted to the bank to the tune of about 200million dollars, and the banks will be praying for me because they don’t want anything happening to me, I don’t have an asset that is cash that will pay that money, I might have asset in which the might have to work to get their money back should anything happen to me, but I have taking a lead to go take that money, many people won’t do that and you cannot be an entrepreneur without taking risks, but it must be a calculated risk, I take risk big time, but calculated risk. Before I go to the bank to take money I have already decided what I want to do with the money, I am not one those who take money from the bank and go buying cars or houses, if I take money to put into a project, the money must go into that project, the project in time will bring out money, if I want to live like a queen or a president I will, but you first of all create something that generates that money, because the moment you take that money from the bank and start spending it, you have already said that project will not work. The third one is that , the government should create enabling environment , some of them are starting small, but because there are a lot of laws militating against them, like taxes, for example some of them that are creating things don’t get tax holidays, they are not been given incentives, in other countries there are entrepreneurs that are creating wealth, and are being encouraged by policies put in place that are investor friendly and entrepreneur friendly but we don’t have that here. Those are the things militating against entrepreneurs here, I mean real entrepreneurs.
M.A: So what do you think in your opinion is the role of women in Nation building
UJU IFEJIKA: You cannot divert this question from the concept of the African family circle, the family setting in Africa believe that women’s position is in the kitchen and child bearing, now we are trying to say we are much more than that, this mentality has been on from the days of our fore fathers, it is not something that you will change overnight, so in nation building one thing I know is that women are very articulate, they are very focused, if you give them things to do they will deliver, I believe there are women who have the energy to work like me, there are lots of them in Nigeria, they only thing they need is the opportunity, and Nigeria as a country should start tapping into that untapped potentials of women in Nation building, the sky will be the limit , things will change in Nigeria. So in term of their role, they need to be more engaged in contributing to anything in every sphere of the country. Look at me , nobody ever knew that a woman could be in oil exploration and production, when I came into this industry, at first when we are having meetings my M.D will tell me I didn’t need to be at the meeting since they were technical, but I will insist on sitting with them, with time they started saying I was an engineer myself but without the certificate (smiles). So for me as a woman doing what am doing now, it shows that there are women who have more guts than myself that can do much more. People thought Britannia – U won’t last, but today I have piloted Britannia – U for 5 years now and we have Britannia – U Ghana, Brittania – U USA, we have the Nextee which is the shipping company, and we have the downstream and we have the data appraisal arm, so it’s a one stop shop company and these are all formed in five years. I can tell you there are women out there who are more intellectually capable to do much more than I have done these 5 years.
M.A: So what factors do you think I responsible for your successes so far?
UJU IFEJIKA: First and foremost I have absolute trust in God, I’m one person who believes that everything I own or have today or what I will achieve tomorrow is possible because God allowed it. When you have a good relationship with God , he opens your eyes of faith to see that you have limitless capabilities, without that most times we want to do it on our own, we forget that we are nothing without God , and he created you for a reason. My success comes from the fact that I have a good relationship with God. The second one is that I am somebody who believes in the world of possibilities, if you feel that nothing is impossible then nobody can tell you otherwise. Then also being able to be a hands on person, I am not one of those CEOS that will tell you I have the best technical person, I have the best engineer , no, I believe in team work, two or three heads are better than one. I want to see what you are doing because at the end of the day the bottom is me. I don’t sleep, I start my work at 8 am I close from my office 9pm to 10pm, a times I go home and I start working again, because nobody can understand your business better than yourself. I make sure every decision I take and whatever I do make business sense, at the end how does it affect our bottom line. Those are the reasons why we have made the much success we have in so short a time.
M.A: What challenges has Britannia you faced in the last 5years
UJU IFEJIKA: There are many of them, First you have to fight with the banks to believe in your project before the advance money to you, we were able to surmount that, then having field competent people who are really hands on people, then the other one was the place where we were operating was shallow water but with a lot of current, when the rainy season comes the swells are up to 20/25 feet and it kept cutting the anchor chains, it lead us to shut down for about a year and then intermittently the year before, so those ones where the challenges we faced, and you know you cannot have those challenges where you are shut down and have anyone come to your aid. There are things we need to put in place as a government for a country that has been into oil since 1958, things like emergency response, where indigenous companies can call out for assistance and get instant response, we have had accidents and we couldn’t even get any help. The other one is that you have just one block and you are meant to provide jobs for a whole lot of people in the community, so you have to do a balancing act, being able to do that and still remain a profitable company.
M.A: Are you the only female operator in oil exploration and production in Nigeria or the African Continent?
UJU IFEJIKA: I think am and not just the continent, I think I am the first female operator tha is alive today.
M.A: What is the future for Brittania – U?
UJU: I don’t like pre-empting my God, I think everything that you are doing , place it before God, and listen and hear him because he speaks to us, that’s one thing that my father in the Lord, Pastor T.B Joshua thought me, God speaks to us, when you find that inner peace and connection to him you should be able hear Him, you know at that point that you can’t take decisions on your own, you have to seek God’s face for guidance and direction. If you ask my own opinion it is that I no longer know what God has in store for me, Brittania – U is no longer an indigenous oil and gas company, if we have Ghana, if we have USA, I am looking at growing a company that will compete favourably with the IOCs, high ethical standards, exhibition of professionalism, am looking at grooming the company’s future. My dream is to build a company across the sub-continent its beginning to happening already; we have other countries that we are talking to for assets and all.
M.A: Outside Brittania – U do you have other affiliates or do you intend to branch out into other areas?
UJU IFEJIKA: Yeah like I told you, apart from Brittania – U exploration and production, we have the trading arm, the shipping arm – Nextee, we have the data appraisal, we have Brittania – U Ghana, we should commence activities there shortly, we have Britannia – U USA, and we are looking at other places like equatorial guinea, Namibia, Libya, Liberia, ivory coast, we are seeking opportunities wherever they come.
M.A: Talking about family, you are married with kids, how many do you have?
UJU IFEJIKA: I am married happily to Mr Emmanuel Ifejika and I have 6 kids, 4 boys and 2 girls, 3 biological and 3 adopted, my son is 23, and the last biological child is 13, then I adopted 3, two boys and a girl, ages three and half and three .
M.A: How do you strike a balance between your role as a wife, mother and an entrepreneur? Don’t you have difficulties managing all these areas and still remaining focused to achieve all you have done?
UJU IFEJIKA: You should ask me how am I still managing to be alive ( laughs) Anyway that’s why am telling you that men don’t know the ability God has endowed women with, I am not one of those women that advocate feminism , for me you are first and foremost a wife, once you have that at the back of your mind, and then secondly a mother to your children, and then an entrepreneur or a corporate woman, at no point should you let any of them suffer, one if you allow the home to suffer you cannot be focused, if you don’t look after your children and they go astray, that’s another burden on you, if you now start chasing your career or business and the home suffers when you get all the wealth who will you enjoy them with. So for me I go to all my children’s functions in school. At home I still cook and go to the market at my level, success is not in monetary terms, it is in managing all these things together. You must be able to balance every area of your life, we women have the ability to multitask, men don’t.
M.A: You mentioned earlier that you have 3 adopted kids, why adopt kids when you have kids of your own?
UJU IFEJIKA: Yes a lot of people have asked me that question, you see for us as individuals you must give unto God something, He is giving you good health, good position, wealth, friends and relations who love you , you must care for somebody, a lot of us will feel because we go to the orphanages to give them clothes and food stuff we have done enough, but how are you sure that the caregivers don’t have need for those clothes and food and have taken them home for their own personal use? In this country there is a lot of poverty so anything is possible. If you really see human beings as God’s image you must show them love, not as unto man but unto God , take one of them into your house show them the love you have shown your kids , because you don’t even know who amongst them will carry that your name, Awolowo today the people carrying his name are those that enjoyed free education that he put in place, look at Ahmadu Bello and Zik their names are still there because of the lives they touched, who were not even their biological children. I must confess they are a bundle of Joy to me, when I come back from work all stressed out , they are there to lift my spirit, like some therapy of some sort, my biological kids are all gone from the house but I have these little ones who make me so happy and I am blessed.
M.A: What do you think are the factors militating against Nigerian women in attaining greater heights in their business endeavours?
UJU IFEJIKA: I think I want to see a situation where we women will stop looking at the men to patronize us by giving us positions and making us to happen, stand up for your right, do things that showcases that you are not asking for any favours you can do it on your own. We are asking for 35% affirmative quota, most times they give women because they want to fulfil all righteousness, although some of them merit it. Why do you want to limit yourself to that 3%t, if everybody is up and doing then that 35% will be a thing of the past, why look at 35%? if I can do what I have done , women can do much more, let them get up go to the bank, put up proposals , I didn’t have a penny when I started growing this company but today it is a company that anybody can look back and be happy with. If I can do it as a woman, then they can, the only thing I need them to do is step out and rise above their fear level.
M.A: Do you think that the government is doing enough to support women or they need to do more?
UJU IFEJIKA: They need to do more , more in the sense that it is not enough to give somebody money, or tell the bank of industry to give them money, they need to encourage them, the multinational companies have a program called “train the trainer”, you that is training somebody you need the training also. There has to be constant training for people in business, new technologies are been born every day, government needs to put a structure in place to train these women, it’s not every time you just induce money into businesses you should train them too, and then create an enabling environment for them to put want they have learnt to good use. Then they should put cooperatives in place or partner with banks to make money available, there are still a lot of people who cannot give a woman money because they believe she will use it to buy jewelleries and clothes, that is not true, put them in a place where they will be able to exercise authority and make them accountable.
M.A: Finally how do you see Nigerian women in entrepreneurship in the next 5 to 10 years what will you want to see that will enable a lot of them be like you?
UJU IFEJIKA: This an area that people are not looking out, for me what I want to see is a situation where there are more women in all spheres, I have said it that starting from next year am going to start mentoring women. I am looking at creating 20 to 30 women entrepreneurs across the country especially in this area that I am involved in, once am able to do that I will unleash them, the men will now stop talking about 35% affirmative quota, they will now start seeing that women have candle spirits and you can’t hold them down. This is what I want to see, more women entrepreneurs.
- See more at: http://www.montageafrica.com/meet-uju-ifejika-africas-most-successful-female-oil-tycoon/#sthash.lt6EKXCn.dpuf
Posted by Africa Breakfast Club on July 31, 2013 , under Chinezi Chijioke, KHANYI DHLOMO, Khanyi Dhlomo Destiny, Khanyi Dhlomo Husband, Khanyi Dhlomo Luminance, Khanyi Dhlomo Millionaire, Khanyi Dhlomo NEF, Khanyi Dhlomo True Love
In many ways, Dhlomo has been the poster girl for transformation in the media industry. She was at the right place at the right time at various stages of her career, but her rise to prominence has been fuelled by her hard work and big vision.
She grew up in Umlazi, KwaZulu-Natal, and was educated in Pietermaritzburg. Her roots in the province would later see her choose rural women from the area to partner with in Luminance venture, at the NEF's behest.
A delicate beauty, she won the Thandi Face Cover Girl competition at the age of 16, sparking what would be an enduring love affair with the magazine industry.
She went on to study communications and it was in Johannesburg that she got her big break. Dhlomo was famously South Africa's first black newscaster in 1995, at the tender age of 20. A lowly-paid SABC freelancer and student at the time, she was the right person for the state broadcaster to put in front of the cameras, in part to prove their commitment to the new South Africa in the first year after the country's first democratic elections.
She quickly became a firm favourite in South African households. But the ambitious Dhlomo still dreamed of breaking into the magazine industry and made a huge sacrifice to get there: she abandoned the security of her television job to become a lowly assistant at the beauty and make-up department of True Love. A series of events and again saw her luck change soon after. Her boss left, the magazine's publishers looked to reposition the magazine to a younger, blacker audience, and Dhlomo found herself heading up the magazine at the age of 22.
The story is now legendary: she did intensive research into her new target audience and within a year True Love's circulation doubled from 70 000 to 140 000 and the magazine became the most widely read glossy women's magazine in the country. She continued growing the magazine for eight years, finished her degree, won awards for her editor role and later went on to become the face of beauty brand, Lux.
A mixed period followed this heady success: Dhlomo's marriage hit the rocks and she left to Paris for the unlikely role of managing South Africa's tourism board there. But she apparently enjoyed her 18 months there. She said in an interview: "I was in my favorite city outside South Africa and promoting my country to the French market – accentuating its tourism assets in the era after sanctions."
It was in Paris, while visiting the boutique hotels and large department stores that the seeds of her vision for Luminance was first sown, while her love for media nagged at her. Wanting to improve her business know-how she left Paris to do her MBA – in no lesser place than Harvard Business School, in 2007.
It was here that she met, not only her second husband, Nigerian management consultant Chinezi Chijioke, but also a key mentor in magazines: Jonathan Newhouse, chairperson of Conde Nast International. Under his tutelage a new vision was born and when Dhlomo returned to South Africa's shores after her extended hiatus it was with a vision that saw her start Ndalo Media – a joint venture with Media 24. The company publishes two high-end magazines: Destiny Magazine and Destiny Man, as well as lifestyle and social media portal, DestinyConnect.com and South African Airways magazine Sawubona .
Her latest venture with the Luminance store is her first foray into the retail space and involves importing high-end designer items into South Africa while also producing items under the Ndalo brand and stocking local designer items.
Posted by Africa Breakfast Club on July 26, 2013 , under Classic 105, East FM and Relax FM, Kiss 100, Patrick Quarcoo, Radio Africa Group, Radio Jambo, X FM
Ghanaian Quarcoo is the co-founder and CEO of the Radio Africa Group, which owns six Kenyan radio stations: Kiss 100, Classic 105, Radio Jambo, X FM, East FM and Relax FM. The group also began broadcasting TV station Kiss Television this year, gaining popularity countrywide by airing Premier League matches as well as local and Nigerian movies. The group also owns The Star, the third largest newspaper in Kenya and arguably the most independent, which launched in July 2007 as the Nairobi Star but changed its name after it expanded distribution across the country. Though radio had been a successful venture for the group, the launch of The Star took it to a new level. Quarcoo was previously a journalist reporting for the likes BBC World Service.
Never heard the name? Well he is the Founder and CEO of Radio Africa Group, which is the company that runs KISS 100, Classic 105, X FM, Radio Jambo, East FM, the Star newspaper and KISS TV. He is a Ghanaian-born man who came to Kenya from Reuters Uganda in the 90s to start up a media company. He spoke at a Mindspeak conference about his experiences, like the time Radio Africa tried to buy out the Standard, and the time Nation Media Group allegedly double-crossed the Star newspaper. We found out that Radio Africa makes 800 million a year, which should certainly put the valuation of the company at over a billion shillings. This is how he did it:
During the Q&A segment of the talk, Patrick was asked by a member of the audience, "I just wanted to know how you went along your course so that any one of us trying to do the same can think of how to take it on."
Patrick Quarcoo, known as PQ by those in media, quickly replied:
" William(a business partner) knows I am a compulsive business plan writer. Like for the Nairobi Star project, the financials were 23 pages. And that was just the basic financials, without the simulations of what would go wrong, and if it went wrong, what would we do. I think too many of us go into businesses on a wing and a prayer. I believe you can model any business. I may be wrong, but that's what I believe. Typically I start with the industry data, cut it up year by year, segment by segment, focus on the basic industry you are in. Look at what ecological and other social changes that impact that industry. Where will they take it?"
He was really passionate about the subject. PQ continued:
"So you need to do all these forecasts. You need to do your numbers like crazy, because what I have found over the years is that bank managers are actually human beings. At the end of the day, it's still a decision of whether they believe in you. The more you understand the numbers and crystallise it, the more people come closer to sharing your understanding, and the lesser the risk it is for them. I get too many people who come to me and say, 'I've got this great idea' and you say to them, OK show me the numbers, and they got half a page of numbers. Run the numbers, know the numbers, get friends to query the numbers and push the numbers."
On hard work, Quarcoo is of this opinion:
"But it's not just a numbers game. I think it's also the ability to deliver. Too many of us don't know what it takes to start a business. When we started KISS 100, I used to wake up at 4 am, and I'd go home, if I'd gone home really early, at midnight."
On business plans PQ's advice was:
"Learn how to put up a business plan. It will save you so much headache. You can almost see where your business is bound to fail before your bank manager sees it. Run cashflows. Discount the cashflows. Do a 5 year discounted cashflow, so you know where you stand."
On learning, this is what he said:
"I learnt all my media management on somebody else's expense while they were paying me a salary. When your working for somebody, learn. Too many people get into a business, and all they care about is getting in at 9 o'clock, taking a salary, and buggering off at 5. When they leave, they don't even think about the business."
Written by Mr. Majani (Web Developer)