BusinessDay Weekender 25th Edition by BusinessDay

SATURDAY 16, JANUARY 2021

EDITION 25 I 16, JANUARY 2021

WAYS COVID-19 HAS REDEFINED OUR WORK CULTURE

RELATIONSHIP FRIENDSHIP IN RELATIONSHIPS

BUSINESS SMALL BUSINESSES CAN PLAN AROUND THESE 5 TRENDS FROM 2020 Businessday.ng

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Contents

SATURDAY 16, JANUARY 2021

C O N T E N T S

7 ENERGY USADF and All On open the 2021 edition of the US$2,000,000 Nigeria Off-Grid Energy Challenge

LEAD STORY

PLACES LAGOS: THE HISTORICAL SIGNIFICANCE OF THE NEW AFRIKA SHRINE

5 Ways COVID-19 Has Redefined Our Work Culture

RELATIONSHIP Friendship in Relationships

23 BOOK REVIEW The Year is Yours – A Review of Omowunmi Omoseyindemi’s Happy You Year

BRANDS What’s Your Story?

BUSINESS SMALL BUSINESSES CAN PLAN AROUND THESE 5 TRENDS FROM 2020

BRAND MANAGEMENT REPUTATION IS EVERYTHING

RECIPE

GARLIC BUTTER HERB STEAK AND MUSHROOMS

HISTORY IN PICTURES The harmful effects of skin lightening on your internal organs…

SPORTS Covid-19 hits players’ valuation as top European clubs lose €1bn in earnings Businessday.ng

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Editorial

Editor’s Note SATURDAY 16, JANUARY 2021

Dear weekender readers, I hope you are all doing well and keeping safe in these very unprecedented times. Lately it seems as though one in five people I spoke to worldwide, either has tested positive for COVID or has someone close who tested positive. The second wave is even more challenging, and it is of utmost importance that we individually do our very best to stay safe and keep our loved ones safe: wear masks, wash hands and boost our immune system. Our lead story this week looks at the effects of COVID-19 on the future of work. 2020 was supposed to be the year where many of us should have achieved our vision 2020. We knew how we wanted to scale our hustle, climb the career ladder, or become our best selves in 2020. We had defined all the strategies and had started on the right footing. Then, boom! One month into 2020, the virus marched into our territory and everything changed at the bat of an eyelid.

PUBLISHER/EDITOR IN CHIEF Frank Aigbogun MANAGING DIRECTOR Ogho Okiti EDITOR BUSINESSDAY SATURDAY Lehlé Balde EXECUTIVE DIRECTOR, OPERATIONS Fabian Akagha MANAGER, CONFERENCES & EVENTS Obiora Onyeaso MANAGER, ADVERTS Ijeoma Ude COPY SALES MANAGER Florence Kadiri DIGITAL SALES MANAGER Linda Ochugbua HEAD OF DIGITAL SERVICES Onyinyechi Eze

Inside: Statistics indicate that the recession of many small businesses caused the total GDP to fall by 23% during the lockdown. According to data compiled by the Center for Financial Inclusion, since the middle of March 2020 when the pandemic hit, 9 percent of about 800 businesses sampled had closed permanently in Lagos State alone; the number of employees had declined by 51 percent compared to its high point from the preceding year; and 80 percent of surviving businesses had seen their profits decline. You will find inside this edition 5 trends that small business can use from 2020 for a more rewarding 2021. The U.S. African Development Foundation (USADF) and All On announced the official opening of the 2021 Nigeria Off-Grid Energy Challenge, which will provide up to $100,000 in blended finance per enterprise for successful applicants. Apply here: www.all-on.com/the-all-onhub or www.usadf.gov/apply Should friendship be basis of all romantic relationships? The lock-down exposed this major flaw in many relationships as we saw that many people had been living through their escape channels e.g. work, church, clubs, etc. And the lock-down came, with no escape routes, the frailty of many relationship was exposed. We have an article inside that explores the concept that friendships should be the basis of romantic relationships. Whether you’re trying to build your personal or business brand, you need to tell a good story that will connect you to the heart of your target audience. For our esteemed readers, we explore how to tell a good story for brand and business building. We also explore the “New Afrika Shrine” which is the host entertainment center of the annual Felabration Music Festival. It is a brand-new building to replace the one previously built by the legendary Fela (which was burnt down in 1977). In the news roundup: Trump impeached for the second time by US congress; Telegram records 25 million new users in three days; Nigeria’s total public debt hit N6 trillion; NCC insists that deadline on NIN registration stands; Bitcoin has become the new game in town; Elon Musk falls to world’s second richest person in just a few days; Social media shut down in Uganda; Uganda votes in intense presidential elections; Flutterwave remains the most valuable YC-backed African start-up; UNDP Nigeria launches Sustainable Development Goals Investors Map initiative. As always you will find a comprehensive sport round up, book review, exciting recipes and much more.

Have a great weekend. BD

Lehlé Baldé is the Editor of BusinessDay Weekender email: lehle.balde@businesssday.ng | social: @lehlelalumiere Businessday.ng

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HEAD, HUMAN RESOURCES Adeola Obisesan DESIGN AND ART DIRECTION Tolulope Ayo-Olubiyo. CONTRIBUTORS Chidindu Mmadu-Okoli Ibukun Akinbamijo Adedoyin Jaiyesimi Ireoluwa Bolajoko Titilade Oyemade Anthony Nlebem Mercy Ayodele

PHOTO CREDIT Freepik, Google Images, Pexels ENQUIRIES lehle.balde@businessday.ng samuel.anyanwu@businessday.ng '

ADVERTS Ijeoma Ude +2348033225506 PUBLISHED BY BusinessDay Media Limited The Brook, 6 Point Road, GRA, Apapa, Lagos, Nigeria. 01-2799100 www.businessday.ng LEGAL ADVISERS The Law Union

News Roundup

JANUARY 2021 SATURDAY 16,

COVID-19 cases spike across Nigeria

Nigeria’s inflation rate quickens t0 15.75%

MERCY AYODELE

he virus seems to have launched a second attack as Nigeria has joined the rest of the world experiencing a second wave. Nigeria has gone for recording daily confirmed cases as low as 145 on November 3oth, 2020 to as high as 1,479 new cases on January 15, 2021. Covid-19 deaths recorded so far this year shows a 50 percent increase

5 5

in only above 14 days compared the same period in December 2020. Nigerians are still flouting COVID-19 rules as many are seen daily with face masks in spite of the spike in cases in recent times.

Trump impeached for the second time by US congress

igeria’s inflation rate has continued to rise unbated for the past 33 months as food cost surges. The consumer price index, (CPI) which measures inflation accelerated by 15.75 percent in December 2020, from 14.89 percent in November 2020. Food inflation rose by 19.56 percent month-on-month compared to 18.30 percent in November 2020. The major drivers of the rise in Nigeria’s food index are bread, cereal, meat, fruits, vegetables, oil & fat, potatoes, fish, yam and other tubers.

he United states of America showed once again that they have had enough of President Donald trump by voting to impeach him even though he was days away from leaving office. The House of Representatives on Wednesday made Donald Trump the first U.S. president to be impeached twice, formally charging him with inciting an insurrection just a week after a violent mob of his supporters stormed the Capitol. The House voted 232 to 197 on Wednesday in favour of impeaching the president after the riot that left five people dead, with 10 Republicans breaking ranks to join all Democrats in voting to charge Mr Trump. That means the trial will

likely begin after Trump leaves office on Jan. 20. The House must formally transmit the charge against Trump to the Senate before the trial can begin.

Telegram records 25 million new users in three days

elegram, a social media platform used both for private communications and sharing information and news received 25 million new users in three days this past week, this information was disclosed by Pavel Durov, the Russia-born founder of Telegram. The surge in downloads comes after WhatsApp, which boasts over two billion users, introduced controversial changes to its privacy conditions that will allow it to share more data with its parent company Facebook. Any WhatsApp user who

Despite the Surge in COVID-19 cases, FG says resumption date still stands

here have been concerns regarding school resumption date which was set for January 18 after the 9-month long strike ended. However, the surge in COVID19 cases has raised concerns as to how safe resumption will be for student. The Federal Government has said schools will still resume on January 18th as earlier set and all COVID-19 protocols must be observed by students towards

does not accept the new term will be cut off by February but users are also taking to the use of telegram as a save haven when that happens. Businessday.ng

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News Roundup

SATURDAY 16JANUARY 2021

NCC insists that deadline on NIN reg- Flutterwave remains the most istration stands

he Nigerian Communications Commission (NCC) has turned deaf ears on the repeated calls for the extension or outright suspension of the registration process due to the short timeframe and surge in the number of coronavirus infections across the country. The NCC has insisted that the earlier announced deadlines for the inte- eral Government. Those who have NIN gration of Subscriber Identification have till January 19 to link NIN and Modules (SIM) with valid National February 9th for those who do not have. Identification Numbers (NIN), still stand, as it awaits advice from the Fed-

Elon Musk falls to world’s second richest person in days

he world cheered as Elon Musk, Tesla billionaire over took Jeff Bezos as the richest man in the world but this victory did not last long as Bezos sent Musk back to the second position in a matter of days. Amazon’s stock rose by nearly 1.5 percent on Wednesday, pushing Bezos’s worth up by $2.4 billion to $184.9 billion. This made him the richest person in the world once again, according to Forbes estimate putting him just $200 millon richer than Musk who is worth $184.7 billion.

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lutterwave was once again the only African startup on the list for the second year running, according to a list compiled by YC. Y Combinator (YC), a US seed-stage accelerator, released its YC Top Companies list. According to a statement, the list was put together to help potential employees, partners, and late-stage investors know a wider set of YC companies. However, despite Flutterwave increase in valuation after raising a $35m Series B round in January 2020, the five-year-old startup dropped 18 places to 115 this year. Many other startups also switched positions to reflect the changes in valuation that occurred in 2020. For one, Airbnb overtook Stripe to become YC’s most valuable company after going public in December

Social media shut down in Uganda

Uganda votes in intense presidential elections obi Wine, a 38-year-old musician, is the frontrunner seeking to unseat long-time leader Yoweri Museveni who is eyeing a sixth term after 35 years in power. Despite being that long in power, Uganda has been plagued with high unemployment and ballooning public debt. Bobi Wine whose real name is Robert Kyagulanyi, said the 76-year-old president could not offer Ugandans the change they want. Many other African countries and Uganda youths cheered in support of Bobi wine with hash tags

valuable YCbacked African start-up

captioned “we are removing a dictator”. In early result, it was shown that Bobi was in the lead but the elections have not been concluded.

ganda blocked access to social media platform in East African country just two days before the presidential election on January 14’s presidential and parliamentary elections. Ugandan President Yoweri Museveni has said his government shut down social media two days before the country heads to the polls, accusing Facebook and unnamed outside groups of “arrogance” after the social media giant this week removed Ugandan accounts linked to his re-election campaign.

SATURDAY 16, JANUARY 2021

ENERGY

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ENERGY

SATURDAY 16JANUARY 2021

USADF AND ALL ON OPEN THE 2021 EDITION OF THE US$100,000 NIGERIA OFF-GRID ENERGY CHALLENGE

he U.S. African Development Foundation (USADF) and All On today announced the official opening of the 2021 Nigeria Off-Grid Energy Challenge, which will provide up to $100,000 in blended finance per enterprise for successful applicants. The Rockefeller Foundation is also providing support via the All On Hub for the program whose application window opens on January 15 and closes on February 28, 2021. The annual Challenge is a multi-year partnership that identifies and helps scale innovative off-grid solutions to “power up” unserved and underserved areas in Nigeria. It was established by USADF, a founding member of the United States Power Africa initiative and an independent U.S. Government agency established by Congress to support and invest in African-owned and led enterprises and All On, a Nigerian impact investing company seeded by Shell, that invests in off-grid energy solution providers in Nigeria. Entering the fourth year of the recently expanded five-year partnership, the parties will jointly provide funding to 100% African-owned and operated small and medium enterprises that improve energy access through off-grid energy solutions spanning solar, wind, hydro, biomass, and gas technologies. The Challenge has awarded funds to 24 companies to date, totaling $2.4 million in blended finance. This year’s $2,000,000 Challenge will provide up to $100,000 per award for up to 20 enterprises. The enterprises may be developers of their own technology and/or acquiring and implementing technologies developed elsewhere. All applicants must be legally registered in Nigeria, demonstrate the capacity to track and manage project resources, and operate in good standing with the local governments in their areas of operation. Up to $50,000 will be provided in the form of convertible debt from All Businessday.ng

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On along with up to $50,000 in grant capital from USADF for each selected company.

To access the application form, visit: www.all-on.com/the-all-on-hub or www.usadf.gov/apply

“We are proud to be partnering again with All On for the fourth edition of an initiative that is fostering the growth of local enterprises committed to bringing power and connectivity to underserved Nigerians,” said C.D. Glin, President & CEO, USADF. “This partnership pioneered a blended finance model that combines grant capital and private sector investment funding that increases access to power and ultimately impacts lives.”

All general inquiries and applications should be sent to: OffGridChallengeNigeria2021@usadf. gov

“We are particularly pleased that in spite of a remarkably difficult year in which tough business decisions are being made, the Challenge has been expanded for an additional two years till 2022,” said Wiebe Boer, CEO, All On. “We look forward to more innovative solutions from entrepreneurs in the Nigerian off grid sector.” Participants will be selected based on their demonstrated abilities to increase sustainable energy access, specifically off-grid solutions, and extend the delivery of electrification to unserved and under-ser ved communities throughout Nigeria. “These unprecedented times of crisis have shown us how critical innovation is to solving global challenges. The Rockefeller Foundation is proud to continue its support to All On in identifying and nurturing innovative entrepreneurs and businesses that are addressing Africa’s energy poverty by scaling Nigeria’s off grid sector,” said Joseph Nganga, the Executive Director of The Rockefeller Foundation’s Power & Climate initiative in Africa. USAID’s Power Africa Country Lead David Rogers added, “We’re extremely excited to partner with the Challenge. Through the Nigeria Power Sector Program, we are supporting finalists with financial modeling to advance our shared goal of bringing clean and reliable electricity to Nigerian households and businesses.”

Application closes on February 28 , 2021. About the United States African Development Foundation (USADF) USADF is the U.S. Government’s independent African enterprise development agency. The agency invests in African grassroots and small- and medium-sized businesses; promotes local economic development; and creates pathways to prosperity for underserved communities. Utilizing a community-led development approach, USADF provides seed capital and local project management assistance to early-stage African enterprises and entrepreneurs addressing Africa’s biggest challenges around food insecurity, insufficient energy access, and unemployment, particularly among women and youth. Annually, USADF’s grant assistance generates approximately $100 million in new economic activity throughout 20 African countries. To learn more, please visit www.usadf.gov. Communications Contact: Afia Frempong. Email: Comms1@usadf.gov. About All On All On, an independent impact investing company, was seeded with funding from Shell, and works with partners to increase access to commercial energy products and services for unserved and underserved off-grid energy markets in Nigeria, with a special focus on the Niger Delta. All On invests in off-grid energy solutions spanning solar, wind, hydro, biomass and gas technologies deployed by both foreign and local access-to-energy companies that complement available grid power across Nigeria and help bridge the significant energy gap. To learn more, please visit www.all-on.com. Communications Contact: Adaobi K. Oniwinde. Email: all-on-communications@ all-on.com About the Rockefeller Foundation

SATURDAY 16, JANUARY 2021

ENERGY

The Rockefeller Foundation advances new frontiers of science,

information, sign up for our newsletter at rockefellerfoundation.

partners to double access to electricity in sub-Saharan Africa.

data, and innovation to solve global challenges related to health,

org and follow us on Twitter @RockefellerFdn

Since 2013, Power Africa-supported projects have added more

food, power, and economic mobility. As a science-driven

than 11,000 megawatts (MW) of cleaner and more reliable

philanthropy focused on building collaborative relationships with

electricity and more than 17 million new power connections for

partners and grantees, The Rockefeller Foundation seeks to inspire and foster large-scale human impact that promotes the well-being

About Power Africa

of humanity throughout the world by identifying and accelerating

Power Africa is a U.S. Government-led partnership that harnesses

breakthrough solutions, ideas, and conversations. For more

the collective resources of over 170 public and private sector

homes and businesses. Power Africaâ&#x20AC;&#x2122;s goal is to add at least 30,000 MW and 60 million connections by 2030. Follow our progress at usaid.gov/powerafrica.

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LEAD STORY

SATURDAY 16JANUARY 2021

5 WAYS COVID-19 HAS REDEFINED OUR WORK CULTURE CHIDINDU MMADU-OKOLI

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SATURDAY 16, JANUARY 2021

LEAD STORY

ur lives, dreams and aspirations were normal. We knew how we wanted to scale our hustle, climb the career ladder, or become our best selves in 2020. We had defined all strategies and had started on the right footing. Then, boom! One month, the disease marched into our territory, through our borders and everything changed at the bat of an eyelid. Schools, churches and workplaces, closed. Our weak healthcare systems quaked. The life we had in our cities had disappeared. The curfews and the deafening silence of the nights were enough to tell us how an unseen thing could cause a pandemic that would shake and shape the rest of our lives. For most of us, this was a defining moment that revealed and introduced us to our innermost being: who we are, what matters, the essence of life, and the need for focus and redirection. This self-awareness became necessary for our relationships with others, in our homes and workplaces. In our work places, for instance, the impact is felt the most. From businesses that were forced to shut down, to a negative shift in company earnings, the constantly unannounced pressure on employers, the heart-wrenching moments that called for pay cuts and downsizing of employees,, and the complexities of office politics, one would deduce that there has been lots of redefining moments at work. Although for some, the reverse is the case, there are still a few takeaways for us all, as we chart our courses in 2021.

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LEAD STORY

SATURDAY 16JANUARY 2021

is a strong need to prioritize self-care. Team-bonding sessions, group health coaching, online workouts and selfcare activities might just be the little things that create the sense of belonging and value for those contributing to the workplace’s mission. Empathetic leadership is nonnegotiable. Contrary to popular opinions, employers do not have it all figured out. The teams that seem to have the courage to do the unimaginable are the ones with leaders who are not afraid to be honest and vulnerable, in such a way that the work team realizes what is at stake, and contributes valuably by owning their part of the work.

The team that runs at the speed of the customer wins. At the peak of the COVID-19 pandemic, we found a shift in consumer behaviour. Movements and activities were restricted. This meant that most consumers either used digital platforms to make purchases or resorted to shops closest to them with those services. For instance, consumers would prefer to use Netflix, instead of the cinema an hour away, or use Zoom for parties, instead of attending physically. With the skyrocketing in the use of online services, we see that the maxim “Go digital or go home” has become strongly enforced. In the coming year, more consumer-centric brands must move from digital denial to digital friendliness to meet the needs of their potential audience. Remote work is here to stay but it is not for everyone. The speed with which we moved from “What is Zoom?” (pre-COVID) to “Please send me the Meeting ID.” or “I am still in the waiting room.” (during COVID) was such an interesting one. Meetings, collaborations, idea-sharing, and team work has become effective in the past year due to the rise in the use of digital tools that support accountability and Businessday.ng

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productivity. More people are getting things done from different locations. However, there is a consequent decline in the time spent with family and friends due to the overlap in work and personal time. The team that will win in 2021, will have to define and stick with the time for members to do deep work without hurting the relationships they have with themselves and their families or loved ones. Identifying the right platforms, data, timing and technologies would do wonders for both the workplace and the audience that they serve. Employee attrition will rise in the absence of health and work safety. With COVID-19, the #EndSARS protests, the challenges of working remotely, and employees’ personal challenges, there

Communication is life-wire of every business. As the singer and songwriter, Timi Dakolo, once said, the best way to kill a thing is to stop communicating with it. Without proper, respectful communication, especially in-house, the foundation that founders have given sleepless nights to build, may soon crash. Establishing a seamless means of communication would remove or reduce hindrances, address conflicting interests and allow everyone to be on the same page with the increasing demands of the organization’s goal. Communication erases assumption, because assumption is the mother of conflicts. As we live through the much acclaimed "new normal", workplace culture would no longer be the same. With the pandemic, came lots of redefining moments. The teams that will courageously execute their dreams and build consumer or brand loyalty are the ones where the people who do the work find meaning in the cause that they contribute to.. BD

Ibukun Akinbamijo is a visionary who keeps adding value to men and women. She is the Founder of The Evolution Center; a coaching platform that offers edifying courses engineered towards the training of men and women, to help them live a holistic life. She holds a Bachelor's degree in International Law and Diplomacy, and a Master's Degree in Political Science. A Certified Life Coach, Neuro-Linguistic Programming (NLP) Practitioner and an Emotions Therapist. She is also an Emotional Intelligence Specialist. Ibukun is a ball of fire who has authored 2 life-transforming books with a number of other book projects in the works, as well as being an Accredited Mediator and ADR Registrar who specializes in peace and conflict resolutions. Connect with her via Email akinbamijoibukun@gmail.com

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SATURDAY 16, JANUARY 2021

PLACES

LAGOS: THE HISTORICAL SIGNIFICANCE OF THE NEW AFRIKA SHRINE

he impact of Lagos on arts and culture is as tangible as the air we breathe; Lagos is particularly famous throughout the African continent for its vibrant performing arts scene which is made up of a vibrant music scene, a flourishing theatre arts scene and everything in-between. The influence Lagos has in the arts and culture scene spans across Africa and its impact cannot be denied, foreign performers have also noticed the role Lagos plays and have made moves to be a part of it. Over the years, renowned artists have paid homage to the cultural glory that Lagos is; artists such as James Brown, Paul McCartney (The Beatles), Snoop Dogg, Cardi B, Sean Paul and many others. Lagos has not been ignorant of its role in promoting the arts in Nigeria and Africa as a whole; Lagos has succeeded in ensuring that Lagos’ impact is continually felt; and one of such ways is commissioning of facilities that make promotion

and enjoyment of the performing arts a continuous delight. One of those facilities is the “New Afrika Shrine” which is the host entertainment center of the annual Felabration Music Festival. It is a new building erected to replace the one previously built by the legendary Fela (which was burnt down in 1977). It is an open-air entertainment hub located at Ikeja; it is a major tourist attraction and a force to reckon with. The facility exhibits photo galleries of Fela; the African music legend and music performances of Seun and Femi Kuti. Every Thursday and Sunday, Femi Kuti (Fela’s Son); plays for three hours. His band is made up of saxophonists, singers, keyboardists and up to twenty dancers, while Seun Kuti (also Fela’s Son) plays on the last Saturday of every month. This awesome live band experience is free only on Thursdays; though it is very beneficial to follow its Facebook page to have access to any information. Businessday.ng

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PLACES

It is an African gem appreciated by both locals and foreigners. French President Emmanuel Macron visited the Shrine in 2018, which made him the first foreign President to visit the Shrine; it was one of the events to pre-launch the Season of African Cultures 2020 to be held in France. It is an awesome venue for concerts, discos and the performing arts as a whole; awesome for music lovers (especially live bands). Whatâ&#x20AC;&#x2122;s not to love about the Shrine? apart from how great of a sentimental value it is, the barbeques, food, drinks and pool tables are an amazing addition to the historical thrill it provides. To access the Shrine however; costs about N500 ($1.31), how you can best maximize your visit depends on the purpose of your visit; if you are a history enthusiast and you happen to be interested in the life of Fela, it is best to pay a visit during the day because it is a lot less rowdy compared to the Night time. While if you are an Afrobeat lover you might want to pay a visit Primarily on Thursdays or weekends. BD Businessday.ng

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SATURDAY 16JANUARY 2021

RELATIONSHIP

SATURDAY 16, JANUARY 2021

Friendship in Relationships IBUKUN AKINBAMIJO

client said to me a little while ago; 'I want to be able to say everything to my woman and not be scared. I am not talking to HR, why is it so difficult to talk to her? It's not an office conversation'

One of the things that stood out to me when my client spoke to me was his value for communication and his need for friendship with his partner. This is a much overlooked part in dating these days. People date for many reasons and sometimes friendship is at the back burner. I hear people say things like ‘he/she’s my friend, I can’t date him/her’. I find that shocking because it brings the question, ‘do you want to date your enemy?’ Life is too intense to be with someone you can’t go through the transitions of life with. You will experience many things and it is just important to be with someone who is like a backbone for all seasons. Friendship is extremely key when choosing someone to date; the butterflies will fade, and you will be left with whatever level of friendship you have built. The lock-down exposed this major flaw in many relationships as we saw that many people had been living through their escape channels e.g. work, church, clubs etc. And the lockBusinessday.ng

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RELATIONSHIP

SATURDAY 16JANUARY 2021

down came, with no escape routes, the frailty of their relationship was exposed. We have the chance to build well from our dating periods. Sometimes in dating, you hear certain partners say ‘he/she’s too sensitive’; this calls for great understanding from both parties. Your partner has a right to feel upset about something and you have to respect that. Building friendship should not be an excuse for insensitivity. Your partner has a right to feel what they feel and you have to respect it. One of the many things friendship does is allow us access to the heart and mind of our partners. We are able to understand what makes them tick and what doesn’t. Friendship is how we build intimacy. It is how we understand our thinking patterns. A few days ago, my parents turned 35 years in marriage and the major lesson from their life together for me is friendship. The sustaining factor for both of them through the storms they have been through is friendship. Strive to be with your friend; money is great but life is more than money. Life is also more than sex. Build on things that will last you longer; things that will sustain you in life. ‘He/she’s my friend’ should be a plus for dating not the other way round. For many singles, the desire to be with someone who is not their ‘friend’ is why they are still single and searching. Don’t allow what does not exist block what can and should exist. BD

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SATURDAY 16, JANUARY 2021

BRANDS

WHAT’S YOUR STORY? ADEDOYIN JAIYESIMI

I love stories.

love being pulled into a world where I am walking in the character’s shoes and experiencing life through their eyes.

I love using my mind to create new narratives and perspectives. It’s not surprising that I binged on Enid Blyton books as a child. While I may not read story books anymore, you can still find me getting lost in a good fiction piece. Plus, I can re-tell the story in such a way that you’d actually believe it’s real! It’s also not strange to see me shedding a tear or two while I am reading a book with a captivating story. That’s the power of stories. They stick. They connect. And today, a good story is a great tool you can leverage if you

want to be visible (on or off social media) and make an impact in the world, not just in your geographical location.

Whether you’re trying to build your personal or business brand, you need to tell a good story that will connect you to the heart of your target audience.

Many times when we want to achieve a goal, we are often blindsided by what’s in it for us. You want to get a job with a multinational and you become consumed with ensuring your CV is perfect and you strategically network with the CEO so that you can get a foot in the door. Or you’re an entrepreneur who has a product to sell and you continue to flood your social media pages with your product hoping that at least 5% of your followers will be interested in buying.

Sometimes, we roll our eyes when people state the fact that we’re all unique. While that’s debatable in some ways, the truth is that no one has your story. Elements of your story may be similar but the entirety of it? It will definitely be different. And how you tell your story will be different too.

These strategies are certainly not bad but there’s a better and more effective way. Tell a good story.

Telling your story allows your target audience to walk in your shoes and feel your passion. They see life through your eyes, they feel the energy you feel and with your story, you can get them to buy into your goal or dream. Your story can allow you to connect with your audience in ways that will stick Businessday.ng

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BRANDS

SATURDAY 16JANUARY 2021

in the long-term. They relate with you because they see a part of themselves in your story or your story gives them hope about the future. There are many ways you can win over any target audience with a good story. Are you telling a good story about yourself or you’re doing the same old things just to get noticed? You may say your story is not remarkable; it’s common and no one would be interested. I beg to differ. If you believe in your story and communicate it consistently with passion, people will be interested. Plus, don’t look down on how far you have come. There’s something valuable about you. If you look back at your life, you will see that you have gained things that others can benefit from. Those are the things you need to infuse into your story. The same thing applies to your brand. Instead of badgering your audience with information about the features and function of your products or services, invite them creatively into your world by projecting the benefits in a good story. I do hope my point here is sinking in. You need a good story and it is not difficult to develop one. If you look inward and document your journey, you will have the raw materials you need to create an authentic story. Your story can open doors for you. Your story can get you valuable attention. Your story can cause your name to be mentioned in rooms which you have only ever dreamed of getting into. Your story is powerful.

Adedoyin Jaiyesimi is the Chief Communications Consultant at The Comms Avenue, a capacity building and knowledge exchange platform for leading and innovative communications professionals across the world. The Comms Avenue offers high-level knowledge sharing meetings and training programs for communications professionals and corporate organizations. She is the Author of the book, From Clueless to Success – a collection of 20 backstories from her journey as a communications professional. She has vast experience consulting for international organizations and top corporate executives and specializes in providing strategic communications consulting for development, philanthropic and corporate organizations, helping them to develop and implement a robust communications strategy. Adedoyin has successfully executed projects for the W Community, Women in Business, Management

So, allow me to ask again, “What’s your story?” BD

and Public Service (WIMBIZ), Leading Ladies Africa, Heritage Bank, African Philanthropy Forum amongst others. She has been profiled on She Leads Africa, Leadership Newspaper and Lionesses of Africa. She was also featured as one of The Spark’s Visionary Women in 2019. Instagram - @adedoyinjaiyesimi Website – www.adedoyinjaiyesimi.com

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BUSINESS

SMALL BUSINESSES CAN PLAN AROUND THESE 5 TRENDS FROM 2020

IREOLUWA BOLAJOKO

n recent times, small businesses have experienced some of the most challenging economic conditions. The past year has shaken the worldâ&#x20AC;&#x2122;s economic system and due to the restrictions imposed by the government on economic activities, many businesses have closed down in Nigeria. Statistics indicate that the recession of many small businesses caused the total GDP to fall by 23% during the lockdown. According to data compiled by the Center for financial Inclusion, in Lagos State alone, since the middle of March when the pandemic hit, 9 percent of about 800 businesses sampled had closed permanently; the number of employees had declined by 51 percent compared to its high point from the preceding year; and 80 percent of surviving businesses had seen their profits decline.

It is unimaginable, the great losses that these businesses endured in 2020. The gravity of the situation is furthermore emphasized by the fact that many more businesses that were trying to stay afloat when the occurrences of the pandemic subsided are yet to recover from the impact of the sudden change in consumer demands and have now been thrown out of existence. Despite the disruption in the flow of economic activities and needs, business owners are beginning to explore trends specific to their industry, which will aid their planning process in order to get the best out of current and future economic seasons. In addition, businesses have been forced to learn how to adapt to new and dynamic consumer demands under a short period. The answer to the question of how those businesses that Businessday.ng

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have managed to survive through the darkest times of the global economic crises and those that will emerge newly are going to contribute to pulling the economy back together lies in the strategies they embrace for sustainability. From case studies of some of the surviving businesses from 2020, here are 5 trends that emerged from the adaptive businesscustomer interactions, which many business owners can take advantage of in 2021. Pivoting due to unexpected changes The covid 19 pandemic has shown the world, and more specifically, small businesses, that the need to be able to adapt to the ever changing needs of customers has never been more important. In a time when consumer demand recorded a drastically accelerated shift, many companies that already had strongly recognizable brands and offerings, which were relevant to the needs of customers, came out even stronger from the pandemic. Small businesses that seized the opportunity to pivot and deliver services that were more tailored to demands also recorded some stability in the heat of the pandemic and a heightened customer loyalty after the economy returned to some level of normalcy. Many more entrepreneurs and businesses that failed to adapt due to one reason or the other became part of the percentage of businesses that had to retreat into inexistence. The idea of pivoting is one that is therefore encouraged among business owners, in order to provide products, services and processes that are relevant to customer needs. It is the process of mapping out the aspects of oneâ&#x20AC;&#x2122;s business that needs to be retained, improved upon, or changed entirely, to get the business driving towards a new and acceptable goal. Pivoting usually involves planning and a willingness to entertain ideas that may previously have seemed unimaginable in the companyâ&#x20AC;&#x2122;s culture. What pivoting does not mean, however, is the complete desertion of already established business strategies leading to a fresh start as this could mean trouble for Businessday.ng

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the continuity of such a business. Adopting a pivot strategy has proven to be pertinent to sustainability and then success. Business leaders have had to make small or gradual changes in the way they conduct business. Some of the pivoting strategies companies have adopted include but are not limited to expanding product lines, moving into new markets, attracting new customers, innovating business model and process and adopting new technologies.

Integration of Digital Solutions The impact of the pandemic on small businesses that were solely reliant on brick and mortar models was unquestionably drastic and in many cases, devastating. In the darkest times of the pandemic and due to the social regulations, companies that did not decide to close down had to adopt the integration of an online presence, to drive continuity. For many businesses today, even as

the world is gradually returning to some level of normalcy, maintaining an online presence has become a priority. It is one trend that still continues to gain popularity and ever increasing acceptance. The use of digital tools and strategies to drive sales is one that had been around before the pandemic. However, the occurrence of the pandemic has greatly catalyzed the adoption of digital alternatives. In order for businesses to stay in front of their customers, many more are increasing their use of digital tools. Findings reveal that more than 80% of businesses today are integrating digital solutions for business practices since the pandemic hit. With the increase in the use of smartphones and the internet, Digital and mobile marketing has undoubtedly become one of the biggest trends to look out for. As a stunning five billion people around the world are embracing smartphone technology, the abandonment of this trend is not in sight. From providing updated information

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BUSINESS customers purchasing history in order to accurately suggest communication channels t hat wou ld incre as e engagement and ultimately, sales of products and services. Remote Work Remote work and freelancing is a trend that we can say is here to stay. Judging from the fact that the pandemic has accelerated the worldwide acceptance of this trend, it is one that is likely to stay longer with work place culture, as many businesses have now come to appreciate the many advantages this style of work presents, while actively trying to work around the disadvantages to their favor. From flexible schedules for employees to reducing cost of business operations for business owners, the benefits of remote work is one that businesses will continue singing praises about even after the pandemic.

to customers to sending customized greetings and offers, the use of digital tools to foster business process automation, has become an easy and direct way to reach customers. Creating an excellent customer experience/service In the wake of the pandemic, a plethora of information has flooded the social space. The influx of information has become more glaring as people now have some more time on their hands. This occurrence has led to people preferring messages to be more personal, and as such, businesses have had to find innovative ways to communicate personally, distinctly and clearly with their customers. Many small businesses have opened up more personal channels through which their customers have can depend on close assistance from their customer service personnel, in order to make informed purchasing decisions and other transactional assistance. Many companies have had to tailor their services to customer needs and therefore personalize their experience. This strategy has been reported to lead to high engagement and will help with business sustainability on the long run. Moving forward, businesses need to take some time to research their

In light of embracing remote work as the new normal, businesses also have to consider some challenges inherent in this style of work that need to be managed. Some ways to maintain good company culture while observing social regulations include; helping workers maintain work-life balance, checking on their health, providing professional support and fostering social engagements for motivation with regular use of virtual meeting platforms like Zoom, Google Meets or Slack Growing a community around your brand In addition to increasing social media visibility, building an online community is one way through which many small businesses are beginning to pull the loyalty of customers together to their advantage. Creating an online community around a brand has proven to help with streamlining the target audience, increase engagement

and foster leads conversion. Many businesses that build communities around their brand usually position themselves as authorities and trustworthy professional that people can trust for expert opinion on a product or service. Community members therefore tend to rely on the perceived authenticity and authority of brands, and as such, they become natural and unsolicited ambassadors. Organizing webinars, presentations, l i v e s t r e a m e d i nt e r a c t i o n s , workshops, masterclasses, online courses and soon are great ways to pull a community of like-minded people who are interested in learning more about what the brand has to offer. With the increase in the number of people at home and the duration of time they spend while home and on their mobile devices, posting pre recorded and Live streamed demonstrations to a brandâ&#x20AC;&#x2122;s online community platform has also recently become a trendy way to engage customers. This trend is gradually taking the lead in the many alternative strategies businesses are adopting to reach and engage new customers. It has become the informal link between e-commerce and social media and thereby presents an interactive shopping experience demonstrated by trusted brand influencers, or those whose expertise is respected concerning the product. Customers are therefore encouraged to buy a companyâ&#x20AC;&#x2122;s product after asking the appropriate questions and observing its use and fit for their specific wants and needs. BD

Ireoluwa Bolajoko is an entrepreneur; the Co-founder and Chief Product Officer at Five Feet Outfits, which is a subscription based and sustainable clothing band for women. As an eco-conscious business developer, Ireoluwa takes pride in advocating for the building of environmental and socially considerate businesses. Her ultimate goal is to become an investor in environmentally friendly businesses. As a graduate with honors from Babcock University with a degree in Agricultural Economics and Extension, Ireoluwaâ&#x20AC;&#x2122;s enthusiasm for entrepreneurship, sustainability, marketing, communication, and business writing have driven her to acquire certifications from esteemed online learning platforms like Havard University through edx, and University of Michigan through coursera.

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BRAND MANAGEMENT

SATURDAY 16JANUARY 2021

REPUTATION IS EVERYTHING FEYISITAN IJIMAKINWA

line from a television commercial for a popular drink that ran for years says “image is nothing, thirst is everything”. Though the drink brand was an industry headliner, those that created the ad couldn’t be more wrong. As good as the drink may have solved the problem of thirst, it has been proven and remains, consistently and realistically, true that image is everything. In fact, in any undertaking or sphere of activity, it is often advised that the right image should be deliberately cultivated. This is strategic because different things influence people’s opinion and perception of a person or brand. More than ever, a wider body of people, including businesses, now realize that reputation (image) matters and could be a major decider on bottom lines. It is interesting to note that the issue of reputation is not limited to brands or those who run them. 21st century reputation management is of interest to organisations, including governments that spend good money and resources on reputation management. Brands don’t want to be accepted and known for just their products and services in the marketplace. Today’s brand know that their entire goodwill and market share can be affected by a crisis, and wiped off by a bad reputation. Countries that want to Businessday.ng

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attract right investors, tourists and development partners know that a good reputation cannot be compromised and must be professionally and creatively nurtured and managed, at all times. No longer do organisations regard corporate communications guys as ‘mere mess cleaners’ whose marching order is “just handle it.” Top executives now recognize that there is a thin but strong connection between the executive and the brand he or she is associated with. Thus, a good private and personal conduct of a top executive will definitely add ‘reputational credit scores’ to the brand associated with such a person. In the same vein, a brand may experience a backlash due to a personal and private infraction of its executives. What this means is that conducts and dispositions are remotely and actively monitored especially in the age of the social media. The fact is that advertising and brand promises alone

can no longer do it. The age of advertising as the supreme decider is long gone. Now, it is all about reputation based on what you say (intent), and as derived from your brand promise, values and vision. It is also about what you do (action) as gleaned from the actions, decisions and peoples’ behaviour while wearing your colours or not. Reputation is also drawn from direct experience through engagements, product/service, sales, and customer service experience. It is also build via what you are seen to do (perception) and the people can get this from your response to challenges and adversity, performance and behaviours, and lastly, reputation can come out of peers’ perspectives including friends and social networks. Last line: Reputation can be easily created but requires strategic management. So, you will agree that in the 21st century, reputation (image) is everything. BD

Feyisitan Ijimakinwa is a Reputation and Perception Management expert. He has managed some top brands quoted on the Nigerian Stock Exchange, and continues to write on reputation strategies, brand intelligence and corporate communications.

SATURDAY 16, JANUARY 2021

BOOK REVIEW

Book Title: Happy You Year Author: Omowunmi Omoseyindemi Publisher: Team Masters Limited Year of Publication: 2020 Number of Pages: 98 Category: Self Help

The Year is Yours – A Review of Omowunmi Omoseyindemi’s Happy You Year . TITILADE OYEMADE

e are a few days into 2021 and the ‘Happy New Year’ greeting to colleagues, friends, family continues. As usual, they will respond because they understand that ‘happy new year’ is intended as an expression of goodwill. But how can the new year be happy unless we are happy? Many of us including entrepreneur and author Omowunmi Omoseyindemi are guilty of entering the new year with a negative attitude and mindset. And instead of dealing with the issue, we share the happy new year greeting as if it were the cure to COVID-19. Can anyone experience a whole new year filled with a satisfying dose of happiness? Yes, and reading Omowunmi Omoseyindemi’s book, Happy You Year, can help you make that all-important decision on living a truly happy life. That life can be understood as living a life of joy, contentment and positive wellbeing. In other words, it is that life that guarantees fulfillment and puts one on the path of true happiness. Right from the title, you know you are about to read a book capable of helping you transform your life. Omoseyindemi has created an incredible resource for anyone willing to embrace a new perspective and is interested in achieving positive results. The fourteen short, accessible chapters cover issues related to Happiness—from self-image to accepting imperfection to healing—accompanied by lined pages and inspiring quotes. It is a perfect book for personal reflection. Omoseyindemi’s warm and inviting writing style makes reading this book a pleasure and does not suggest that readers should be selfish when trying to pay attention to their personal happiness. Rather, she encourages everyone to be responsible for their happiness and avoid being cut up in the barriers to their joy, even when the future looks grim and the light at the end of the anecdotal tunnel seems non-existent.

Sharing insights on handling the storms of life, Omoseyindemi explains that storms are natural occurrences which everyone faces from time to time. She takes it a notch higher by sharing some creative ways to turn bad situations around. In Happy You Year, you will realise why finding a niche in life is an essential requirement for greatness and should not be underestimated. The reader will learn about improving their self-image based in three dimensions. The book’s final chapter addresses how to work on the aspects of one’s life that need mastery. Change one thing at a time and complete that change before heading to the next thing. Sometimes, you can improve drastically by just changing one small thing. Be patient and methodical, you cannot rush mastery, Omoseyindemi writes. A good across-the-board summary of the book: it’s all about you. Only you truly have the ability to bring yourself happiness. Indeed, the year is yours. Omoseyindemi makes a superb guide for anyone wishing to start fresh in the New Year and there’s no better time than now to pick up Happy You Year by Omowunmi Omoseyindemi. BD oye m a d e is a business execute in a leading organisation and holds a degree in Russian Language. She’s the convener of the Hangoutwithtee Ladies Event and the publisher of Hangoutwithtee magazine. She spends her weekends attending women conferences, events and book readings. She loves to have fun and to help other women have the same in their lives.

Email: titi.oyemade@gmail.com Social: @tiipree

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EVENTS

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SATURDAY 16, JANUARY 2021

EVENTS

ABUCHI PETER UGWU, VICE PRESIDENT AGENCY CHOCOLATE CITY GROUP WEDS ABIOLA ADEOLA IN ABEOKUTA, NIGERIA. Businessday.ng

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EVENTS

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EVENTS

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HISTORY IN PICTURES

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SATURDAY 16, JANUARY 2021

HISTORY IN PICTURES

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RECIPE

SATURDAY 16JANUARY 2021

GARLIC BUTTER HERB STEAK AND MUSHROOMS INGREDIENTS 1 tablespoon olive oil 1 tablespoon butter 6 ounce mushrooms sliced 3 garlic cloves minced 1 teaspoon thyme chopped 1 teaspoon rosemary chopped 1 teaspoon oregano chopped 2 lean New York Steak strip steaks salt and pepper Garlic Butter Compound: Âź cup softened butter 3 garlic cloves minced 1 teaspoon thyme chopped 1 teaspoon rosemary chopped 1 teaspoon oregano chopped

INSTRUCTIONS 1. In a large cast iron skillet over medium-high heat, add olive oil and butter, mushrooms, garlic, thyme, rosemary, and oregano. Cook for about 3 minutes or until tender. Remove Businessday.ng

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and set aside on a plate. 2. Turn the skillet to high heat. Add the steaks. Cook on each side for 3 minutes or until outside is browned. Reduce heat to mediumhigh. Cook the steaks to the desired doneness. Mine took about 10 minutes flipping 3 times to get a medium well. 3. Right before the steaks are done, make the garlic butter compound. Mix the butter, garlic and fresh chopped herbs. Slather on top of steaks. Add the mushrooms back to the pan and heat through and let the butter melt into the steaks.BD

SATURDAY 16, JANUARY 2021

RECIPE

HOMEMADE LEMONADE INGREDIENTS 8 to 10 large lemons not to be confused by lime 1 cup granulated sugar 1 1/2 quarts water (6 cups) Ice Lemon slices, for serving (optional)

EQUIPMENT Measuring cup or medium bowl Knife and cutting board Juicer or citrus reamer, or stand mixer with the paddle attachment Pitcher Strainer

INSTRUCTIONS

1. Juice the lemons and strain out the pulp. Halve the lemons, then squeeze the juice from the halves â&#x20AC;&#x201D; you can do this manually with your favorite juicer or reamer. My favorite alternative method: Quarter the lemons and use the stand mixer to juice all of the lemons at once. Place the quartered lemons in a stand mixer fitted with the paddle attachment, then beat on low speed for 2 minutes. With either method, strain the juice through a fine-mesh strainer into a large measuring cup or bowl to remove the pulp before making the lemonade. You need 1 cup of strained lemon juice. 2. Combine the lemon juice and sugar to make a lemonade base. Add the sugar to the strained lemon juice and whisk until the sugar is completely dissolved. 3. Add the water and chill. Transfer the lemonade base to a serving pitcher. Add the water and stir to combine. Chill the lemonade for at least 1 hour before serving. 4. Serve with ice and lemon slices. Serve the lemonade over ice with lemon slices if desired.BD Businessday.ng

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SPORT

SATURDAY 16JANUARY 2021

ANTHONY NLEBEM

Covid-19 hits players’ valuation as top European clubs lose €1bn in earnings

urope's elite football clubs have lost more than £1billion in revenue over the past year as the outbreak of Covid-19 pandemic continues to ravage the finances of football clubs. Almost 10% has been knocked off players’ average values as the game struggles with the economic impact of the Covid-19 pandemic, according to a study by the market analyst KPMG. KPMG Football Benchmark's The European Champions Report revealed the shocking figures for the 2019-20 season. Published this month, it highlights how clubs fared while dealing with the global pandemic. The European Champions Report, focused on the league winners across the six major leagues and carried out by the Football Benchmark Team, found Juventus, Paris Saint-Germain and Porto had double-digit percentage drops in revenue while Bayern Munich, Liverpool and Real Madrid experienced more modest revenue decline. Madrid and Bayern still posted profits, with the Spanish club boasting the highest income with €681.2m (£607m). They are followed by Bayern’s income of €607.2m, Liverpool’s €557m and PSG’s €540.6m. Madrid returned a profit despite income dropping by 8% through cost-cutting Businessday.ng

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measures including 10% salary cuts applied to all their players and summer sales. They did not sign anyone in the summer and while they have the biggest budget in the study it has reduced by more than €200m this season. Liverpool are estimated to have the most valuable squad. According to KPMG’s figures, Kylian Mbappé is the world’s most valuable player at €200m while there are four Englishmen in the top 10 – Raheem Sterling (second, €132.5m), Jadon Sancho (third, €130m), Harry Kane (fifth, €120m) and Marcus Rashford (€112,2m). Lionel Messi is 12th on €101.3m. Cristiano Ronaldo is outside the top 50, valued at €63.2m. Mohamed Salah (€122.2m), Sadio Mané (€120m) and Trent Alexander-Arnold (€107.1m)

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are rated as Liverpool’s most valuable. Madrid’s most valuable player is the defensive midfielder Casemiro. A broader, 20-team sample of European teams calculated an aggregate loss of revenue of €1bn, with an 18.5% decline in revenue at Manchester United, 12.3% at Tottenham and 7.9% at Liverpool. Celtic were down 15.5%, while Porto had the continent’s biggest drop, at 50.5%. Liverpool’s decrease, a result of having to play behind closed doors and their early exit from the Champions League, where they were knocked out by Atlético Madrid just before lockdown, was mitigated by a 14% rise in commercial revenue. Of the sampled teams – which included three from England, Spain, and Italy, plus two from the Netherlands, Germany, France, Portugal and Turkey as well as Celtic – only Sevilla and Borussia Dortmund had an increase in revenue over last season. The study cited the European Club Association figures that predict player salaries could reach more than 70% of clubs’ average budget over the coming year, a figure that is unsustainable. Liverpool’s operating revenues decreased 8% year on year to €557m over the past 12 months, with a 14% decrease in matchday income a key factor. They also failed to match the €111.1m in Champions League TV money that they earned the previous season. That situation has continued into the new season, but the study calculated the value of the club to still be growing at €2.658bn. According to a report from CIEA there was a 43% drop in transfer activity in Europe’s five biggest leagues over the summer, and KPMG estimated that half a billion euros had been taken off the market values of the 500 most expensive players. On average, players’ values are down 9.6%, the study found. It calculated the market value of Liverpool’s squad at €1,094.3m, with Bayern at €943.4m, Madrid at €874.2m, PSG at €806.6m and Juventus at €734.8m. BD

How Barca rejected the chance to sign Cristiano Ronaldo

arcelona rejected chance to link up Cristiano Ronaldo with Lionel Messi for just £15million

Cristiano Ronaldo and Lionel Messi are sworn rivals, destined to divide fans in their fight to be considered football's greatest of all time forever. But it could have been so different, with Barcelona rejecting the chance to sign Ronaldo and pair him with Messi for just £15million in 2003. That summer, the Portuguese star was on the brink of leaving Sporting Lisbon after a rapid rise to prominence. Of course, Ronaldo ultimately joined Manchester United and shot to superstardom before moving to Real Madrid six years later. But now, Barcelona presidential candidate Joan Laporta has revealed he turned down the chance to bring Ronaldo to the Nou Camp in a deal that could have changed the face of the sport forever. Laporta - president at the time claimed he had 'no regrets', saying it was between Ronaldo and Ronaldinho, with Barca opting for the established Brazilian star. Looking back on that fateful decision 18 years ago, Laporta told Iniestazo: "We were about to sign Ronaldinho and Rafa Marquez.

rejected him. "I don't regret it." Barcelona would go on to enjoy huge success with Ronaldinho, winning two LaLiga crowns and one Champions League title during his five-year stay. The Brazilian also won the Ballon d'Or during his time at the Nou Camp, in 2005. Rather than link up with Messi, Ronaldo headed to Old Trafford - where he would three Premier League crowns and one Champions League. He too won a Ballon d'Or at his new club, taking home the first of his five FIVE awards in 2008. After quitting M a n Ut d i n 2009, Ronaldo would go on to terrorise Barca while playing for their fiercest rivals, Real Madrid. I years

n at

nine t h e

"Marquez's people proposed Cristiano Ronaldo to us. He was at Sporting at the time. "One of his agents said that they had a player who they had sold to [Manchester] United for €19m, but they'd sell him to us for €17m. "But we had already invested in Ronaldinho at the time. Cristiano played more out wide than in the centre. "We thought we were covered, so we

Bernabeu, he won two L aLiga crowns and a staggering FOUR C hampi ons L e ag u e crowns before joining Juventus for £99m in 2018. BD Businessday.ng

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SPORT

SATURDAY 16JANUARY 2021

AJ vs Tyson Fury: Boxers to earn £73m each

he much anticipated Anthony Joshua's showdown with Tyson Fury could earn both fighters around £73mi l lion e ach, according to promoter Bob Arum. The fight is likely to take place at prime time in the UK - but a date is yet to be decided. Arum told Barbershop Conversations: “We have a location, that’s true. “We have a location and, as far as the date is confirmed, we haven’t zeroed in on a date. “It could be as late as June because it would give more time to solve the coronavirus problem. By June, most people will be vaccinated, so it’s possible. “And then we would do the fight, payper-view in the UK and pay-per-view early evening in the United States.” Arum then revealed that both fighters are set to rake in around £100m (£73m) each from the fight. He said: “The Joshua vs Fury fight will earn each of the guys close to $100million. each of the guys. “It is the biggest fight in history in the UK, not even close. Businessday.ng

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“Around the world it is the biggest fight that people wanna see.” Negotiations over the 'Battle of Britain' are understood to have progressed smoothly Arum, 89, expects the deal to be signed and agreed within the next fortnight. AJ's promoter Eddie Hearn has already revealed the fight is not expected to take place in the UK. Hearn identified Saudi Arabia as an option as they could make twice the money. He told iFL TV: “The government here don’t invest in bringing mega-events to the UK - they don’t necessarily need to. “They’ve got a Premier League football game every weekend, selling 50,00080,000 [tickets]." Joshua beat Kubrat Pulev in December to set up the historic undisputed title decider with Fury. Fury, 30-0-1, has predicted he will beat the Watford-born bruiser inside two rounds. But Joshua, 24-1, is on a mission to take the 32-year-old's head clean off his shoulders.. BD

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