BusinessDay Weekender 32nd Edition by BusinessDay

SATURDAY 6, MARCH 2021

EDITION 32 I 6, MARCH 2021

4 Ways to #ChooseToChallenge BOOK REVIEW

BRANDS

‘LIFE LESSONS FROM AFRICAN WOMEN’

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Contents

SATURDAY 6, MARCH 2021

C O N T E N T S Statement by the Tutu Fellows on the Deteriorating Situation in Chad March 5th, 2021 The Archbishop Desmond Tutu Leadership Fellows (“Tutu Fellows”), a diverse group of civic, political, business leaders, and artists from 43 African countries, are united in condemning the violence taking place in Chad as the April 2021 presidential election draws near. We are deeply concerned by the detention of hundreds of peaceful protesters and call upon the Government of Chad to adhere to its national and African obligations, release those detained arbitrarily and protect their right to peaceful assembly. The incidents which led to Dr. Succes Masra and his companions to take refuge in the US Embassy in N’Djamena and the deployment of heavy military equipment and forces to the house of a presidential candidate in the forthcoming election, mark unacceptable escalations in the use of force and violence by State security institutions towards citizens seeking a fair, transparent and inclusive electoral process. These events confirm a negative pattern of shrinking space for the opposition, civil society, human rights defenders, and independent voices after similar violent clashes occurred in Nigeria, Guinea, Ivory Coast, Uganda, Mali and Algeria over the past year. We, the Tutu Fellows, whose ambition is to see an acceleration of the socio-economic and political development of Africa, request that our leaders - our role models - denounce these actions with their last energy. The circumstances of the events in Chad must be investigated impartially. The security of political leaders and citizens demonstrating in the coming weeks must be guaranteed. Equally, protests must remain peaceful, Chad has lived through too many military conflicts. Give peace and dialogue a chance! We call upon the African Union’s Chairperson and the Chair of the Commission to uphold in Chad, and in all its member States, the relevant principles and goals of the Constitutive Act and the Protocol on Amendments to the Constitutive Act of the African Union which are as follows:

● Achieve greater unity and solidarity between African countries and their people; ● Promote peace, security, and stability on the continent;

PRESS RELEASE Statement by the Tutu Fellows on the Deteriorating Situation in Chad

LEADERSHIP

INNOVATION LESSONS FROM WOMEN IN LEADERSHIP

‘LIFE LESSONS FROM AFRICAN WOMEN’ - A BOOK SPOTLIGHTING FEMALE LEADERS FROM ACROSS AFRICA

LEAD STORY

BUSINESS Generosity: An Incredible Business Growth Strategy

Women Supporting Women: 4 Ways to #ChooseToChallenge

BRANDS

RELATIONSHIP HOW TO SPICE THINGS UP WITH YOUR OLDEST CUSTOMERS.

HAPPY 79TH BIRTHDAY TO MRS FRANCES BOER.

Your Brand Story Is More Than A Trend

23 PERSONAL BRANDING PERSONAL BRANDS, TRACK RECORDS, AND HEELS

BIRTHDAY

BOOK REVIEW KEY ELEMENTS OF HIGH PERFORMING ORGANIZATIONS-A REVIEW OF DEJI JEMIYO’S CLARITY ALIGNMENT FOCUS EXECUTION

SPORTS MAN UNITED COUNT COST OF COVID-19 AS DEBT RISES TO £455.5M Businessday.ng

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Editorial

Editor’s Note SATURDAY 6, MARCH 2021

Dear Weekender readers,

SATURDAY 6, MARCH 2021 PUBLISHER/EDITOR IN CHIEF Frank Aigbogun MANAGING DIRECTOR Ogho Okiti EDITOR BUSINESSDAY SATURDAY Lehlé Balde EXECUTIVE DIRECTOR, OPERATIONS Fabian Akagha

I hope you are reading this week's edition in good health. The month of March came quickly and what seems like suddenly, we find ourselves in the month that celebrates the achievements of women all around the world. While women’s achievements should be celebrated all year round, I think it’s great that there is an entire month dedicated to celebrating the achievements of women all around the world.

MANAGER, CONFERENCES & EVENTS Obiora Onyeaso

The theme for International Women’s day this year is #ChooseToChallenge. Individuals and organizations are invited to send in their #ChooseToChallenge images as they share images from around the world in the lead-up to International Women's Day 2021. Visit https://www.internationalwomensday.com/theme to find out more. Our lead story explores how women can truly rise up to the 2021 theme and truly support each other in the workplace.

DIGITAL SALES MANAGER Linda Ochugbua

Inside we amplify the stories of women: how to build a personal brand, how to support women in the workplace, women in history and much more. Does generosity in business lead to significantly sustainable growth and profitability? Find out more inside. What kind of an employee are you? The employee of the year? The disgruntled employee? The office clown? Or the rebel? Find out by flipping the pages inside In our book review, Deji Jemiyo’s book In CAFE offers a refreshing perspective and worthwhile insights into improving the strength of your organization and your organizational performance. The book starts from a simple premise: many organizations think about new possibilities concerning the future of their organizations and have had endless strategy sessions in order to address the problems faced by their organization and improve their business management, however, these organizations still struggle with poor performance. As usual, you will find a recipe, sports round up and much much more. In the news roundup: Nigeria receives nearly 4 million vaccines from COVAX; Gunmen released hundreds of Kidnaped school girls; Njide Okonjo-Udochi, sister to Okonjo-Iweala becomes the first black female to emerge physician of the year in the US; Oil price soars after OPEC+ decision to hold off on production increase; Nigeria has the list affordable internet in the World; NSE launches e-Filing Portal to enhance securities listing; E-call up system begins in Apapa. Wishing you a great weekend ahead.

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

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MANAGER, ADVERTS Ijeoma Ude COPY SALES MANAGER Florence Kadiri

HEAD OF DIGITAL SERVICES Onyinyechi Eze HEAD, HUMAN RESOURCES Adeola Obisesan DESIGN AND ART DIRECTION Tolulope Ayo-Olubiyo. CONTRIBUTORS Mercy Ayodele Imasuan Okubgbowa Anthony Nlebem Feyisitan Ijimakinwa Bella Ikeme Titilade Oyemade Dr Monisola Adanijo 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

SATURDAY 6, MARCH 2021

Nigeria receives nearly 4 million vaccines from COVAX

MERCY AYODELE

igeria took some steps forward in its fight against the Covid-19 vaccines as it received 3.94 million doses of the AstraZeneca vaccine during the week, the third and largest delivery so far to an African country by the COVAX program. COVAX is an international coalition set up to give equal access to the vaccine to all countries. The delivery of the AstraZeneca vaccine is part of an overall 16 million doses planned to be delivered to Nigeria in batches over the next months by the COVAX Facility. A 42-year-old Ngong

5 5

Oil hits almost 14-month high after OPEC+ extends output cuts

O Cyprian, a doctor who has spent the past year treating COVID-19 patients became the first person in Nigeria to be vaccinated against the disease on Friday.

Gunmen release hundreds of Kidnaped school girls

few days after the kidnapping of hundreds of girls from their boarding school in the northwest Nigerian state of Zamfara, parents’ breath a sign of relief as the girls were freed. But relief at their return has been tempered by concern over the circumstances of their release. A series of similar school abductions in recent months has led many Nigerians to worry that regional authorities are making the situation worse by letting kidnappers go unpunished or paying them off..

il prices jumped 2.3 percent to $68.26 on Friday, hitting their highest in nearly 14 months after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand. For Africa’s biggest oil producer, a signal of higher oil price is always a blessing in terms of improved earnings. However, it might end up becoming a problem for the nation’s downstream sector, which still allows the price of petrol to be remotely controlled. If oil exceeds the $70 mark, Nigerians would have to prepare for higher pump prices of PMS of at least N200 a litre in the coming weeks, without subsidy from the Nigeria National Petroleum Corporation (NNPC)

Njide Okonjo-Udochi, sister to OkonjoIweala becomes first black female to emerge physician of the year in US

hile we are still celebrating Ngozi Okonjo-Iweala for making history as the Director General of the World Trade Organization, her sister Njide Okonjo-Udochi has also joined in as she is the first black female in the United States to bag the prestigious award of the physician of the year. This award was bestowed on Okonjo-Udochi by the Maryland Academy of Family Physicians (MDAFP).

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News Roundup

SATURDAY 6, MARCH 2021

Nigeria has the least affordable internet in the World

lthough Nigeria might be experiencing increasing broadband penetration but it has the least affordable Internet in the world. According to a report by Surfshark Digital Quality of Life report 2020, Nigerian ranks 85th out of 85 countries indexed in the report. Of the six African countries studied in the report, South Africa ranks highest (34th) followed by Tunisia (64th), Algeria (66th), Morocco, (71st), and Kenya (74th) while Nigeria finishes the entire list at 85th. The Virtual Private Network firm curated the amount of time people need to work to afford the cheapest mobile and data plans available in the country.

NSE launches e-Filing Portal to enhance securities listing

owards improving issuers’ experience on the Nigerian Stock Exchange, a X-Filing platform was launched which is designed to enhance securities listing application processes. The portal is expected to provide Dealing Member Firms and other accredited sponsors with ease and convenience while submitting securities listing applications on behalf of issuers. X-Filing also allows easy tracking of application status, while users of the portal would also be able to check estimated listing and application fees and make payment online.

E-call up system begins in Apapa but traffic returns few days after

t was a moment of joy for businesses and residents of Apapa, Nigeria’s premier port city, last week when they celebrated the introduction of an electronic call-up system which was an attempt to stop trucks from littering their environment and causing long hours of traffic for commuters. The week kicked off with roads almost empty of trucks and gridlock but a few days into the week, trucks returned into the road and gridlock seemed to have returned again. If the call-up system collapses, it means the party is over and long hours in traffic will return. Businessday.ng

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PRESS RELEASE

Statement by the Tutu Fellows on the Deteriorating Situation in Chad March 5th, 2021 The Archbishop Desmond Tutu Leadership Fellows (“Tutu Fellows”), a diverse group of civic, political, business leaders, and artists from 43 African countries, are united in condemning the violence taking place in Chad as the April 2021 presidential election draws near. We are deeply concerned by the detention of hundreds of peaceful protesters and call upon the Government of Chad to adhere to its national and African obligations, release those detained arbitrarily and protect their right to peaceful assembly. The incidents which led to Dr. Succes Masra and his companions to take refuge in the US Embassy in N’Djamena and the deployment of heavy military equipment and forces to the house of a presidential candidate in the forthcoming election, mark unacceptable escalations in the use of force and violence by State security institutions towards citizens seeking a fair, transparent and inclusive electoral process. These events confirm a negative pattern of shrinking space for the opposition, civil society, human rights defenders, and independent voices after similar violent clashes occurred in Nigeria, Guinea, Ivory Coast, Uganda, Mali and Algeria over the past year. We, the Tutu Fellows, whose ambition is to see an acceleration of the socio-economic and political development of Africa, request that our leaders - our role models - denounce these actions with their last energy. The circumstances of the events in Chad must be investigated impartially. The security of political leaders and citizens demonstrating in the coming weeks must be guaranteed. Equally, protests must remain peaceful, Chad has lived through too many military conflicts. Give peace and dialogue a chance! We call upon the African Union’s Chairperson and the Chair of the Commission to uphold in Chad, and in all its member States, the relevant principles and goals of the Constitutive Act and the Protocol on Amendments to the Constitutive Act of the African Union which are as follows: ● Achieve greater unity and solidarity between African countries and their people; ● Promote peace, security, and stability on the continent;

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PRESS RELEASE

SATURDAY 6, MARCH 2021

● Promote democratic principles and institutions, popular participation and good governance; ● Promote and protect human and peoples’ rights in accordance with the African Charter on Human and Peoples’ Rights and other relevant human rights instruments; We call upon the International Community to press the government of Chad to fulfill its obligations under international conventions with regards to civil and political rights and to guarantee the right to freedom of expression. If we truly believe that development cannot happen without peace, and peace can only be gained through dialogue and the opening of safe spaces for all daughters and sons of Africa to share their ideas and visions, then we must not tolerate, justify or turn a blind eye on such abuses of power. We believe that the leaders of Africa need to be mindful of the role of its youth, harness their energy and innovation to achieve Vision 2063 for “an integrated, prosperous and peaceful Africa, driven by its own citizens, representing a dynamic force in the international arena.” What is currently happening in Tchad does not bode well for achieving Vision 2063 and sets the continent back. Disclaimer: The Tutu Family is a proud plurality; whilst the majority of Fellows support this message, individual affiliations cannot be ascribed without verification. The Archbishop Desmond Tutu Leadership Fellows

About the Tutu Fellows Tutu Fellows who are leaders and change-makers, forming a dynamic network of Africans passionately committed to the continent’s transformation, bridging the divide between nations and ensuring that Africa is set center-stage in global affairs.

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0701 452 2083, 09090554406 – 7 prima@narrativelandscape.com www.narrativelandscape.com

9 789785 746303

ISBN 978-978-57463-0-3

Oscar N. Onyema, OON – Chief Executive Officer, Nigerian Stock Exchange

I sat across the negotiating table from Ayuli Jemide when his firm was shortlisted for a major project with the Exchange. He was calm, clear, concise, and certain about what he wanted. LISTENEVERYHOW is an atypical, simple, easy-to-read book with insightful stories and illustrations. It is profound in its message – that insight makes the difference in negotiations.

LISTENEVERYHOW

Pippa Blakemore – Strategic Business Partner, The PEP Partnership LLP and author, Networking for Lawyers

LISTENEVERYHOW sparkles with the reflections of the depth and learning from Ayuli Jemide’s personal experience. Theoretical principles intertwine effortlessly with Jemide’s pragmatic approach and underpin the incisive tips he gives. His words illuminate a wide range of contexts, personalities, and situations. The fine sketches illustrate anecdotes, true stories, case-studies and highlight key negotiation skills required.

In LISTENEVERYHOW – How Negotiations Work, Ayuli Jemide presents a lifetime of experience in business. The reader will learn that the philosophy of business diplomacy is the same as that of life – One must listen, in every way, wherever, however, twice as much as they speak. This book shares its lessons using the author’s personal journey, true anecdotes, and analysis. It is written with the clarity and easy eloquence of a man who knows what he is talking about.

Ayuli Jemide

How Negotiations Work

LISTENEVERYHOW

SATURDAY 6, MARCH 2021

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LEADERSHIP

SATURDAY 6, MARCH 2021

‘LIFE LESSONS FROM AFRICAN WOMEN’ - A BOOK SPOTLIGHTING FEMALE LEADERS FROM ACROSS AFRICA “No one is free until we are all free”. This quote by Dr. Martin Luther King couldn’t be truer as it concerns innovations as an enabler of gender equality and equity in Nigeria.

vailable for free in digital and physical formats, the book provides inspirational reallife stories for future generations and young leaders. Each chapter focuses on a personal experience and life lesson around how these women have navigated their path to success, alongside the challenges they have had to overcome along the way. ‘LeadHERs: Life Lessons from African Women’ is aimed at encouraging, inspiring and guiding the reader - no matter the background, age or ambition. ‘LeadHERs: Life Lessons from African Women’ follows Businessday.ng

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on from the successful 2020 launch of ‘Inspiring #Changemakers: Lessons from Life and Business’ in South Africa. This 2021 book is further brought to life through a series of beautifully illustrated artwork specially commissioned from four female artists from across the continent - Massira Keita from Côte d'Ivoire, Lulu Kitololo from Kenya, Karabo Poppy from South Africa, and Awele Emili from Nigeria. With over 5,000 copies printed, the book will be provided for free to a number of Facebook’s local training partners including She Leads Africa,

LEADERSHIP

SATURDAY 6, MARCH 2021

•

Fate Foundation, DigifyAfrica, Siyafunda, Smart Ecosystems for Women and cCHub. These will be distributed across 15 countries, including South Africa, Nigeria, Zambia, Zimbabwe, Liberia, Senegal and Kenya - in schools and to beneficiaries of training(s) offered by Facebook partners. Nunu Ntshingila, Regional Director, Facebook Africa, said: “At Facebook we know that African women are at the helm of shaping the future of our promising continent - they are changemakers, mothers and CEOs. This book is a celebration of just some of the exceptional African women who in their own right are trail-blazers, motivating and inspiring people and advocating for good across Africa, and the world. We’re excited about their individual stories, inspired by challenges they’ve endured and how they’ve risen above these, and importantly how they’ve turned these into important life lessons to help inspire others.” The women featured in ‘LeadHERs: Life Lessons From African Women’, include: • Tara Fela-Durotoye - Entrepreneur and CEO [Nigeria] • Elizabeth Akua Ohene – Journalist and Politician [Ghana] • Hawa Sally Samai – Founder, CEO and Campaigner [Sierra Leone] • Saran Kaba Jones – Founder and CEO [Liberia] • Temi Giwa-Tubosun – Founder and CEO [Nigeria] • Baratang Miya -Tech entrepreneur and CEO [South Africa]

• • • • • •

Dr Judy Dlamini – Entrepreneur, Author and Philanthropist [South Africa] • Yvonne Okwara – Journalist and News Anchor [Kenya] • Tecla Chemabwai – Athlete and Educator [Kenya] • Alice Nkom - Lawyer and Human Rights Activist [Cameroon] • Hindou Oumarou Ibrahim - Global Activist [Chad] • Bethlehem Tilahun Alemu – Founder and CEO [Ethiopia] • Lelemba Phiri Entrepreneur, Investor, Educator [Zambia] Vanessa Hau Mdee – Media personality, Musician and Podcaster [Tanzania] Monica Musonda – Lawyer, Entrepreneur and CEO [Zambia] Kalista Sy – Showrunner and Screenwriter [Senegal] Noella Coursaris Musunka - Model and Philanthropist [Democratic Republic of the Congo] Samantha ‘MisRed’ Musa – Media personality, Social Influencer and Philanthropist [Zimbabwe] Djamila Ferdjani - Doctor and Entrepreneur [Niger]

This March marks the three year anniversary of Facebook’s #SheMeansBusiness programme in SubSaharan Africa, an initiative designed to inspire, empower and train female entrepreneurs across the continent to build, grow and start their own businesses. As part of this, Facebook is launching a new training component on business resiliency through financial education in Nigeria, South Africa and Senegal, with the additional modules aimed at improving female business owners’ financial management skills, whilst addressing challenges that women entrepreneurs face, such as access to capital. To download the book visit: https://issuu.com/ideaengpr/docs/lead_hers_-_life_ lessons_from_african_women BD

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INNOVATION

SATURDAY 6, MARCH 2021

LESSONS FROM WOMEN IN LEADERSHIP

OLUWATOBILOBA LAWALSON

elebrated as a woman shattering glass ceilings and cliffs, winning many awards, getting international recognition and accolades, Dr. Ngozi Okonjo Iweala coauthored a book with Julia Gillard, 1st Female Prime Minister of Australia, titled "Women and Leadership- Real Lives, Real Lessons." This book aims to help and educate many women to combat and controlling gender bias that they may face along the way of leadership. The book also draws insights and conclusions from the life of eight other remarkable women leaders who share their stories. It has so many lessons, and I would be summarizing some of them: Achieving remarkable results is possible for any woman, not only privileged women. She only has to be willing, prepared, confident, and determined to do so, not minding the challenges that come her way. In raising her, it is crucial that she is taught never to aim lesser than boys from childhood, is empowered to lead, and given responsibilities. In achieving your objectives, understand that it is okay to have and get necessary and reliable help. Help might come from an understanding partner, a nanny, family relations, or caregiver. It is okay to feel guilty but choose a coping mechanism, understand that balancing is a myth, and employ whatever strategies work best for you. People might be more critical of your style and appearance than they would the opposite sex. However, choose a personal style that works best to increase the focus on your message's credibility than Businessday.ng

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on your appearance, primarily because of critics. Individually in our personal social media spaces and the media should also try to do a better job of judging based on substance and not appearance. In the competition for the few spaces available, women should compete without bringing down each other down. Bring your best foot forward, collaborate, and champion each other forward. One woman getting to the top rarely makes that difference. It needs to be done multiple times or by more than one woman for sustained impact to be felt. We need to ensure that there are more role models, mentors, and most importantly, sponsors because the fewer role models and mentors are, the more pressed for time they would be. In standing out and making tough decisions, you might be 'villainized' (called bitchy), and the general perception might be harmful towards you about your leadership style and emotional reaction. It

SATURDAY 6, MARCH 2021

INNOVATION

the advice you would give others Moving forward; we need all hands on deck- male and female. We need more research, more collective actions, more advocacy, education, more funding, more sponsorship, is imperative to work on the itemizing thoughtful, well-thought more conversations, and better leadership style that works best for strategies ahead of time for how you policies until, as a community, you, avoid being forced to accept would counter challenges that come we move to change this wide general stereotypes, and call to ahead of you. They might be along gender inequality gap: the media, attention such bias. It is also okay the lines of tribalism, racism, sexism, community, economic, religious to experience self-doubt, to have competence, etc. They help when and political leaders, policymakers, weaknesses and strengths but be the time comes. everyone. aware, strategic, and thoughtful Never underestimate the power Nothing beats reading the book about working on perceptions about of networking. Build the right by yourself, but I hope you learned 'being a bitch’. networks and coalitions and something. BD Be aware that women are held regularly apply to yourself, especially to higher moral standards and Oluwatobiloba Lawalson is a legal practitioner and punishments than men and have Development Professional. She is a Platform Young more conversations about it but Professional Fellow, is passionate about the role education, never let it deter you from being gender equality and SMEs play in African development and your true self. Role model positively holds a certificate of Distinction from the World Bank. She can be reached at gracelawalson@gmail.com and speak authentically about challenges. Set out scenario planning exercises Businessday.ng

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LEAD STORY

SATURDAY 6, MARCH 2021

4 WAYS TO #CHOOSETOCHALLENGE THE QUEEN BEE SYNDROME THAT LIMIT WOMEN IN THEIR WORKSPACES

elling, shouting, gossiping, job sabotaging: these and more have been reported as ways woman-on-woman bullying, also known as the Queen Bee Syndrome, happens in our workspaces. The Queen Bee Syndrome is a situation, where women, especially those in high ranking positions of authority, treat other female colleagues who work below them more critically than their male counterparts, in such a demoralizing manner, by undermining their credibility or status, or by manipulating others into thinking less of them.

also report that these bullying incidents have stunted their

growth. In a recent Instagram post, “When did you know it was time to quit your job?” She Leads Africa kickstarted a hard conversation with the community of women that they serve. The responses in the comment section were heartshattering. Although all these are yet-to-be-verified stories, what any one may find shocking is the number of female employers or female team managers who are not doing so well with the people under their team. With some of these similar conversations regularly happening on platforms like LinkedIn, anyone one could gain insight about work cultures of a few companies, by a detailed social listening.

“We are an equal opportunity employer”, these days, may sound like an effort to fulfill all righteousness. Generally, corporate culture expects women to show up at work and do their jobs like they have no personal and family needs to As published in the Journal “Women supporting women” fulfill of Developmental Learning for many, may sound a cliché, as

in Organizations, 70% of female executives feel bullied by other women in their workplaces. They Businessday.ng

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professional

there seems to be a stereotype that shows we have said more than we have done. While there are women

LEAD STORY

SATURDAY 6, MARCH 2021

who genuinely look out for others, we also know of cases of women who have had a hard time in their various spaces working with/for other women. People have leveraged social media, email enquiries, private networks and public/online workshops to ask questions on how

to deal with demanding, harsh, and mean female managers or team leads. “We are an equal opportunity employer”, these days, may sound like an effort to fulfill all righteousness. Generally, corporate culture expects women to show up at work and do their jobs like they have no personal and family needs to fulfill. In most cases, we preferably search for unmarried women because we do not want the “burden of family women” in our workplaces. Yet as members of society, we also have very high standards for women to manage homes and raise children. This is somewhat similar to refusing to educate a girl child, and then insisting each time she is sick to see only a female doctor. Women naturally are givers. They give life and make great and often unimaginable sacrifices to nurture loved ones. Studies have

referenced that a 1% increase in women’s contribution raises the level of GDP by 58.4%. When women work, economies grow and work for everyone, irrespective of their societal status. To amplify the contributions of women to societal growth and development, we must start challenging the (Queen Bee) barriers that hinder their progress, especially within the workspaces. Begin by showing GENUINE concern towards women. Most times, women are not asking for much. All they need is that concern and support of other women in the workplace. The generosity of spirit, a second chance, a listening ear, a word of encouragement, compassionate honesty when giving feedback, looking out for one another, making referrals and strongly believing that they will achieve what they set out to do. These intentions should be pure and genuine because time would constantly reveal us as who we truly are. Empathy is useless if we do not learn, at least to understand people, before even deciding to believe them. Employ and pay them well. We must begin to delete assumptions that only certain kinds of people are fit to do certain jobs. That entitlement gap where we choose to not to employ married women or pregnant/nursing mothers because we consider them a burden or hindrance to the company’s balance sheet should be done away with. Likewise, there is a need to revisit this unannounced quest to have more unmarried women in the team, because they are better "work burden bearers" who should spend all their time at work. Women should be hired most importantly because they are competent for the Role and should be treated, as much as possible, based on Businessday.ng

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LEAD STORY

SATURDAY 6, MARCH 2021

the expectations by the industry. Do not just tell the world that your company values are hinged on equality, diversity, equity or inclusion, when it is just for the camera or the impression it will create in the global community; whereas women are paid less than their male counterparts, or employed and treated as an

hypertension, obesity, mental health disorders, infertility and other reproductive health challenges, amongst many others. These issues affect how women show up at work. Whilst those in authority might mean well to enforce balance and make women do their jobs for the good of the organization, these traits, when unchecked, may become

afterthought. Don’t just ask women to save more, when we know they are more likely to earn less; pay them well and encourage them to earn more so that they can keep contributing.

toxic and cause more systemic damage.

Workplace culture and economic empowerment should prioritize women’s health. In the private sector, most especially, because there are irregularities regarding labour regulations, more women bear the burden of care for themselves during and after pregnancy. With increasing workplace, family and societal demands, we have seen more women face certain health challenges that hinder their peak performances: cervical, ovarian and breast cancers, diabetes, Businessday.ng

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The workplace that will win in these times and beyond are the ones who help women, and men also, find meaning, beyond the money earned from merely meeting company targets. Prioritise activities that give room for work-life balance. Enrol them in self care and health insurance plans, set up regular free screening to know their health status, encourage conversations in the workplace on issues that affect women from health, and nutrition to lifestyle and family, as these are intertwined . Find out how they can access safe medicines and collaborate/network with necessary people to make that possible. Create

a safe space for women to breastfeed in the workplace. People are not robots. People give more when you show them that they mean more than just meeting targets. Implement policies that address bullying and violence against women in the workplace. Whilst most Nigerian businesses have a no-bullying clause in their rules of engagement, only a few enforce it. Realizing through online and social interactions that most people leave their jobs because of the attitude of team or line managers, implementing the rules and consequences for workplace bullying will not just keep people in check, but will make everyone accountable. Encourage honest and compassionate conversations, instead of yelling and shouting. Provide room for all parties to be fairly and fearlessly heard before mediating. Workplace conflicts among women, cannot be fully addressed if those in the management practice "selective listening" or "selective deafness" to the concerns of women in one cadre, against the other party. Pay attention to all non-verbal cues and seek to know the “why” behind these. With these we build workspaces where women are passionate to contribute greatly and meaningfully, whilst reducing employee attrition rate. We know that women deserve more. Women can do much more in the right environment. As we celebrate the International Women's Day globally, it is time for more women, this time, be the first source of peace and support for their fellow women. We should not underestimate the power that comes from our pack as women collaborating on the assignment. The strength is in our unity, not in unhealthy strife and competition. BD

SATURDAY 6, MARCH 2021

BUSINESS

GENEROSITY: AN INCREDIBLE BUSINESS GROWTH STRATEGY

BELLA IKEME

es, you read it right. Generosity in business when done right can lead to significantly sustainable growth and profitability. Stay with me and I guarantee you that it will make sense by the time I am done.

he seeks advice from the enigmatic Pindar, a legendary consultant referred to by his many devotees simply as the ‘Chairman’.

• Generosity in business is not discounts, free consultations or special offers.

Over the next week, Pindar introduces Joe to a series of go-givers‘: a restauranteur, a CEO, a financial adviser, a real estate broker, and the Connector‘, who brought them all together. Joe quickly learns that changing his focus from getting to giving – putting the interests of others first and continually adding value to their lives – ultimately leads to unexpected results.

• Generosity in business is not only about corporate generosity i.e. social and philanthropic activities.

Now let’s talk about some of the results that are possible and the actions that can be taken to achieve these results:

Let’s get a few things out of the way first though: • Generosity in business is not altruism.

1. Helping Others Sets off a Chain Reaction of Service Two years ago, I read the book ‘The Go-Giver’ by & Loyalty – Research shows that the desire to bestselling authors and successful businessmen Bob be generous is often a result of having been the Burg and David Mann. It was one of those very good recipient of generosity oneself. Give, give, give and decisions that become pivotal moments in life. Read it then do really good work. Think about ways you can if you haven’t or read it again if you have. My best part infuse giving into your business operations. One of of the book is how it opens up with this paragraph – my personal favourites and used in my business is ‘Most people just laugh when they hear that the secret having one or two line items on a customer invoice to success is giving... Then again, most people are for which there is no cost attached. I promise nowhere near as successful as they wish they were’. you that your client even though they might not Semi-Spoiler Alert! The book tells the story of ambitious acknowledge it, will never forget it.Bonus Tip: This Joe who yearns for success. He is a true go-getter, though must be done after the act has been done and not sometimes he feels as if the harder and faster he works, before, as that would be contrived. the further away his goals seem to be. And so one day, 2. Be Positive, Passionate and Energetic in All of Your desperate to land a key sale at the end of a bad quarter, Businessday.ng

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BUSINESS

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external) with gusto!Bonus Tip: Make this a part of your organization’s fundamental philosophy and culture. Get external help even, if you can’t manage it on your own. 3. Always Share Your Ideas and How-To Strategies in Conversations with People Who Might Benefit from Your Expertise – At owned or third party events as well as in every networking opportunity where you find yourself in conversation with others, please don’t be a hoarder. I am amazed at how at high profile events, I meet people who clearly want to get business out of the event but say things like ‘can I call you sometime within the next week to tell you more of how we can be of service? when asked clear questions about their work’. Errr!!! When I hear it, in my head I press one of those large buzzers that game shows use when an answer is wrong. Don’t do that! Deep dive into the conversation and give of your skill and expertise. Chances are if people see the value in what you are saying and they want to hear more; they would request the meeting and even pay for your time.Bonus Tip: This is not just an exercise for the C-Suite executive or business owner, make it a regular exercise that is practiced by all client interfacing team members.

Interactions – Asides from the fact that nobody loves a Debbie Downer, and in a world where there is always something trying to steal your joy or give you stress – wouldn’t it be great to be the source of someone’s good mood? My team knows better than to go into an internal meeting or a client call sounding or acting like their cat just died. I do not care what business you are in but learn to suck it up and approach all interactions (internal and

There are so many other things like not going into a client meeting with your phone so you are listening intently, completely focused on the words coming out of people’s mouths. It tells the customer that they are important and have all of your attention, as you don’t exude ‘busyness’ which makes them clam up and not share all their pain points, as they get the sense that you are very busy and are only taking the meeting because you want the business. The more a client opens up, the more business you can get out of the interaction. One last thing, try not to approach all of this as a chore but a way of life, it might be tough at first but it definitely gets easier. Do you already practice some of the afore-mentioned? Are you generous? How generous are you? BD

Bella Ikeme is a multipreneur, business growth and profitability enabler, a partner and catalyst for African businesses and entrepreneurs. She is the Founder & CEO of Caizen Business Development Company & Host of Business Banter with Bella. It is her unwavering belief that Africans have the ability to build successful legacy businesses that not only impact lives, but the socio-economic development of the continent. When she is not working, she is spending time with family and friends, reading, journaling or obsessively studying the Japanese. Businessday.ng

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BRANDS

SATURDAY 6, MARCH 2021

Your Brand Story Is More Than A Trend

CHIDERA MUOKA

he virus changed the way we consumed information on the internet. According to The New York Times, “In the past few years, users of these services were moving to their smartphones, creating an industry-wide focus on mobile.” This caused the virality of social media apps and the increase in trends at every other hour of the day. For brands, this meant a significant shift from just traditional advertising to mobile advertising. The quest to meet their target demographic in their safe space (mobile phones) meant developing a tone of voice that is familiar and engages with them. In doing this, a lot of brands lost sight of their brand stories, and how this need to fit in could cost them the respect of their target market. The following case studies show how a brand story can be lost in the moment’s trend. What Does Your Newsletter Say About You? The Tech Cabal and Zikoko brand have mastered the art of a good newsletter, and regardless of what seems to be catchy at the moment, they have created an insider language between them and their subscribers. Yet, not all brands realise the mastering of this art. Sterling Bank is one of those brands. The need to conform to the language of the moment has pushed the bank to create content that tries too hard to be relatable when what it needs to do is stand out as the one-customer bank. Reinforcing the brand archetype in all communication

from the bank should adopt a house style and tone that connects through interest points, and engages with its target demographic regardless of the trend of the moment.

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20 BRANDS

SATURDAY 6, MARCH 2021

Impressions Differ From Reality The Tony Elumelu Foundation has positioned itself as a space to mentor, fund, and network for budding entrepreneurs. Yet, its move with an exclusive live interview with Nengi Hampson of Big Brother was focused on the numbers the personalities this franchise attracts, as opposed to the essence of its brand. When working with the influencer marketing strategy, it is important to focus on shared values. Questions like, why is this influencer affiliation good for the brand? Do they have qualities that align with the brand? Should be top of mind when creating these affiliations. Answering these questions for the Tony Elumelu Foundation shows that they had the right intention but the wrong affiliation. Catchy Doesn’t Mean Relatable Howard Gossage said, “Nobody reads advertising. People read what interests them, and sometimes it is an ad.” When STANBIC IBTC Pension released their product Switch Geng, it might have been an excellent strategy to use Mayorkun’s track “Geng'' to interest its target audience. Yet, was the best approach to connect with their audience? In the history of catchy jingles, brands like Airtel (444) and GTBank (737) have created a niche by creating original tracks that caught and retained the attention of their target audience. A better way to achieve this for STANBIC IBTC would have been to maintain core elements from the musician who pioneered the Geng movement and created an original track, and visual story to drive the point home. BD

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THE OFFICE

WHAT KIND OF EMPLOYEE ARE YOU? W

STEPHANIE ERIGHA

ork unites billions of people around the world and naturally, we spend more time at work than we do with our families. Through interactions with different people; you are most likely to pick up certain habits and traits and this is true for most organisations. This is why you hear stuff like “Oh, you sound just like Bolanle in my office” or “that’s exactly what my manager does”. While having casual conversations with friends about work life, I realised that similarities exist when it comes to the characters of the people we interact with. I decided that in almost any organisation, you are likely to find the following types of people: Here is a list of types of employees. Which one are you? 1. The Employee of the Year- This is the guy (yes, it’s always a guy *side eye*) that is perfect. He’s the CEO’s favourite because he succeeds at his job and goes over and beyond for the organisations. He takes all the awards- most hardworking, best team player, CEO’s Award for Excellence, Salesperson of the Year, Employee of the Week, Month and Year. 2. The Disgruntled Employee- This is that person that complains about everything. Traffic, the lights, the office toilet, the car park, cafeteria food, the government, the way the sun shines, the colour of the next building… anything you can think of. Of course they complain about their job too! 3. The Office Clown- Come rain, come shine, there’s that one person that is always happy. They gat jokes for every topic and every situation. Whenever you hear laughter in any office, it’s because they are cracking ribs better than your favourite comedian. 4. The IT Guy- Every organisation has this guy. They won’t let you use the internet in peace. Always coming to your office to gaze at the street through your office window but in reality checking which sites you’re opening. If you find out your Facebook and YouTube aren’t opening anymore, ask the IT guy what you did wrong so you can amend your ways. 5. The Rebel- There is always that one person that never adheres to the office rules- and even HR cannot do anything about it. Their hair is a different colour every week, they eat at their desk even though the policy is “food is allowed only in the cafeteria”, they resume at the office anytime they like and sometimes, they do not even show up at work. Other employees are always left wondering if he/she is a major

company shareholder in disguise because the audacity is a tad bit too loud. 6. Mr/Miss Excuses- It’s always one drama or the other for this person. “I am feeling ill”, “My Uncle’s step son just passed”, “My daughter’s school is doing cultural day”, “My car broke down”, “I have a dentist appointment”, “My church program starts today so I need to leave early”, “I need the week off to attend my niece’s wedding in Akure”..You get the gist. 7. Jack of all Trades- This guy can do literally anything around the organisation. And he has everything you need- spanner, earring hook, car battery, chocolate bar, detergent, baby wipes- he has it all. You do not need to worry or panic about anything. So which employee are you? Did anyone come to mind as you went through this list? BD

Stephanie is a strategy and business development professional with experience across various sectors including media, technology and energy. She is a Beta Gamma Sigma International Society honour member and mainly writes about organisational culture, emotional intelligence, and societal issues.

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RELATIONSHIP

HOW TO SPICE THINGS UP WITH YOUR OLDEST CUSTOMERS.

OLUCHI OKAFOR

utilize relationship metaphors a lot while training clients or their staff because it is truly the most relatable way to describe the relationship between a buyer and a seller. Regardless of the scale of either party, there is a song and dance that takes place in the beginning of any such relationship. There’s the attraction stage which would normally happen on the side of the buyer. She sees something she likes but she doesn’t want to say anything, especially with the number of options staring at her from the marketplace. Wouldn’t be wise to go for the very first one she sees now, would it? He (seller) senses her interest via a magnitude of means. He got the report that she engaged with his advertising content. He might have also planted promoters in the store and saw that she passed the aisle twice and looked at it a little longer or even picked it up. Next thing you know he’s everywhere. She notices him everywhere she goes. TV ads and billboards. The algorithm on her phone has picked up that she spent 5 extra seconds on his ad and somehow decides that this means she is interested. The avalanche of content continues until she finally gives in. She starts to snoop around on her own. She wants to see if he is for real. She looks him up, sees what other people are saying about him on social media. She even looks at his exes (previous buyers) to see what they have to say about him. Finally, she gives in. She brings out her card/ cash and she buys. He is excited for this new customer, and thus commences the honeymoon stage. Businessday.ng

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He has gotten her money and she has gotten her product. She loves her purchase! She takes pictures with it, and of it, and makes their relationship Instagram official. Then the relationship begins. She chooses him every time she goes to the supermarket, tells everyone about him. But as relationships evolve, and as individuals and products do same, things start to change. All his attention is focused on getting new customers; the novelty starts to wear off for her. There are better products on the shelf, newer and shinier features catch her eye. There are also newer customers. He is reinventing himself and his approach, trying to appeal to a new audience. The relationship becomes strained. She tries other brands and she loves them. He has newer customers and loves it too. But the connection that brought them together is still there, powered strongly by nostalgia. This dynamic is common and it is not hard to understand as statistics have shown that customer acquisition costs 5 times as much as customer retention. But companies spend that much money because they’re interested in a continual flow of customers. No company will decide that, oh, I think we have enough now, let’s stop marketing. But it is also important that the already existent lovers and adorers of the brand are retained. This means throwing some TLC their way. Festive seasons and holidays are a preferred time to reach out and celebrate your oldest customers. Loyalty schemes and promos are always a great idea. Feedback sessions and customer forums (where applicable) are incredibly useful as they are the definition of killing two birds with one stone; extending gratitude for patronage and collecting feedback to aid your improvements. Your oldest customers might have fallen in love with you in the past and you might have maintained a great relationship since then, but like the pidgin proverb says, Na see finish dey turn good morning to howfar. Don’t wait for that to happen. Invest in retention exercises that keep the fire burning between you, and your oldest customers.BD Oluchi Okafor is a customer experience consultant and has trained and consulted for over 100 SMEs on how to improve their processes, retain happier customers and deliver great experiences every time. She is also the Managing Director at Multimix Academy, Nigeria’s foremost supply chain management institute.

SATURDAY 6, MARCH 2021

PERSONAL BRANDS

PERSONAL BRANDS, TRACK RECORDS, AND HEELS AYODOTUN AKINFENWA

s we celebrate International Women’s Day and Women’s Month this March and ruminate on the 2021 theme #ChoosetoChallenge, we need to rediscover a need to lend our voices to the subject of image building as it pertains to women. As more women shatter the proverbial glass ceilings and an African woman takes the reins at the World Trade Organisation, we must remind ourselves of some truths. Women are equal contributors to economic advancement is a long-concluded matter and not the subject of this discourse. “Accepting their roses”, to use the lingo of the millennials or better still, Personal branding is the issue under review. For every article we read or presentation we hear on the matter, women continue to fall short of the weighty matters of personal brand/image, perception, remuneration, and recognition in spite of their track records. This is a common thread, from the seat of

government and policy to corporate corridors to arts and entertainment. In a 2018 article for the Harvard Business Review, titled “How Women Can Develop — and Promote — Their Personal Brand”, Dorie Clark sums up the problem “Gender norms presume that women should be agreeable and nurturing, and when they violate these norms through self-promotion and decisiveness, they’re often penalized for that behaviour in a way that men wouldn’t be” Before we go too far, we should establish what personal branding is. According to Wikipedia, it is “the conscious and intentional effort to create and influence public perception of an individual by positioning them as an authority in their industry, elevating their credibility, and differentiating themselves from the competition, to ultimately Businessday.ng

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advance their career, increase their circle of influence, and have a larger impact” To add to this definition, personal branding is 3 things. First, it is an internal job, then, it’s an external job and finally, it’s a communal job. It’s internal because everything starts with, discovering who you are, the unique value you bring to the table. Every human is an embodiment of value. What’s your unique flavour? Secondly, personal branding is an external job, you cannot do all this amazing work and keep it to yourself. As aptly stated by the Katherine Newbury character in the movie “Late night” to her protegee, “if you want people to see you in a certain light, you have to make them” Finally, it’s a communal job because you cannot go it alone. You need a community of associates, mentors, sponsors, cheerleaders to sell your image. Word of mouth marketing will take you to places. Those places are filled with people. To bring it all together, here are

think about and plan for. 3. Embrace the art of selfpromotion: The men do it easily because of centuries of mental and social conditioning that manhood is about achievement but it’s not the sole preserve of the male folk. Do not keep quiet, speak up in meetings, on social media, in communities. Own your wins! 4. Refuse to be held back by gender bias but leverage the strengths of femininity. Overcome the instructive steps to building your male vs female comparisons personal brand as a woman. and just deliver on your work. Females have an advantage because it’s been proven they 1. Upgrade your thinking: can multitask and they pay Chances are, you are doing a attention to detail, these are great job. It’s time to see it, see idiosyncrasies that will serve the world as your oyster, and do you well as you build a wellmore than burying yourself in curated image for yourself. the work. Experience has taught 5. Network, up, down sideways. even me that that hardly works. Identify your various The boundless opportunities stakeholders, every brand that exist are beyond even your has stakeholders, from direct current role and everything rises bosses to senior management, and falls on your mindset. Do to clients, to peers, to vendors/ you even have a vision for your suppliers, professional bodies, professional brand and career? the media, and so on. Don’t 2. Be strategic: After opening up be left behind, stand and be your mind, you need to get counted. strategic about what you want to do and start planning. What are you bringing to the table? What I leave you with the words of are your specific goals? Do management guru Tom Peters who you need to join associations/ declared in his 1997 article: “We communities? Which ones? are CEOs of our own companies: Do you even have platforms Me Inc: To be in business today, our to express your brilliant ideas? most important job is to be head Are you leveraging social marketer for the brand called You”. BD media? Are you going to hire a publicist? There’s so much to

Feyisitan Ijimakinwa is a Reputation and Perception Management Ayodotun Akinfenwa is a Brand/Marketing Consultant with about 14 years of industry experience. Before starting Lifestyle Hues Brand Consulting in 2016, she built her career working on international brands. Today, she consults for companies and trains SME owners on the subjects of Marketing, Branding DIY Design and Content Creation. Her firm has trained over 10,000 indivduals and served over several businesses. She holds a Masters Degree in Marketing. She is an Associate member of the Advertising Practitioners Council of Nigeria, (APCON) and Women in Business, Management & Public Service (WIMBIZ), a Member of the Chartered Institute of Marketing, UK and is a Canva Certified Creative. Instagram: https://www.instagram.com/lifestylehues/?hl=en Linkedin: https://www.linkedin.com/in/ayodotun-akinfenwa-mcim-4719279a/ Email: Ayodotun@Lifestylehues.com

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BOOK REVIEW

TITLE: IN CAFE: A SIMPLE RECIPE FOR BREAKTHROUGH RESULTS AUTHOR: DEJI JEMIYO PUBLISHER: JEMAN PRESS YEAR OF PUBLICATION: 2019 NUMBER OF PAGES: 249 CATEGORY: BUSINESS

KEY ELEMENTS OF HIGH PERFORMING O R G A N I Z AT I O N S A REVIEW OF DEJI JEMIYO’S CLARITY ALIGNMENT FOCUS EXECUTION TITILADE OYEMADE

At a time when businesses in Nigeria are faced with the challenge of restarting their operations, as well as trying to survive and also coupled with other competitive factors, business leaders are left with no choice but to make deliberate efforts to ensure the stability and even survival of their businesses. This shows the need to solve the issue of business performance from a fresh perspective in this present highly competitive and continuously evolving business environment. Deji Jemiyo’s book In CAFE offers a refreshing perspective and worthwhile insights into improving the strength of your organization and your organizational performance. The book starts from a simple premise: many organizations think about new possibilities concerning the future of their organizations and have had endless strategy sessions in order to address the problems faced by their organization and improve their business management, however these organizations still struggle with poor performance. This work doesn’t just dwell only on in-depth studies but Jemiyo has met and worked with a myriad of people, whose businesses he helped save when their conditions seemed hopeless. He therefore, has found that there are certain elements of high-performance organizations that can be summarized by the acronym CAFE. The Clarity of integrated possibilities, Alignment of operating model, Focus on cascaded priorities and Execution of agile action plans - indicate the formula of high business performance and when these ingredients are applied in the right proportion and sequence generate the delivery of superior results beyond imagination, he writes. However, this doesn’t suggest the journey

is easy, but rather there is a clear and deliberate path for achieving the success of an organization that helps one build a wide knowledge base, harnessing available opportunities, and the importance of learning from failure. Filled with anecdotes about the people he has met in his life, Jemiyo uses the benefit of hindsight to educate his readers on the importance of business leaders communicating what it means to win and achieve results. In CAFE discusses the many obstacles that get in the way of growing your business and also emphasize the need to review your progress after planning and executing your plans. However, Jemiyo would have done a lot better by sharing business narratives that captivate, convince, inspire and engage the reader the way charts and tables alone never could. In the last chapter, Jemiyo quotes Will Rogers: “Even though you are on the right track - you will get run over if you just sit there.” The overall aim of the book is to give a blueprint for business performance that can be applied to any organization seeking to secure sustainability. The book is hoped to be an important resource for forward thinking leaders, managers, consultants, and business owners... 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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BIRTHDAY

SATURDAY 6, MARCH 2021

Happy

79th birthday to

MRS FRANCES BOER

Dr Jan and Mrs Frances Boer in Jos 1967. Businessday.ng

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HISTORY IN PICTURES

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SPORT

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ANTHONY NLEBEM

MAN UNITED COUNT COST OF COVID-19 AS DEBT RISES TO £455.5M

n a bid to remain financially buoyant and compete for laurels, Manchester United have borrowed £60m to help cushion the financial impact of the coronavirus pandemic. This is part of the £200m credit line to cover a soaring net debt of £455.5m as a result of the coronavirus pandemic. United also announced a 2.6% growth in total revenue from £168.4m to £172.8m in the last three months of 2020 attributed to a 68% increase in broadcasting revenues to £108.7m. The figure was attributed to United’s return to the Champions League. “Demand for live football remains strong,” Manchester United executive vice-chairman, Ed Woodward, said while announcing the club’s second-quarter results. Woodward also reflected on the impact of Covid-19, a “once-in-acentury level crisis” that “tested our club’s resilience and values,” and discussed the potential return of supporters to Old Trafford. “We are seeing some positive examples around the world of live events with reduced capacity crowds with social distancing,” Woodward added. “The successful rapid rollout of vaccines and falling rates of infections in the UK makes us optimistic about the government’s road map out of the lockdown, Businessday.ng

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including plans for the gradual reopening of sports stadiums with spectators, beginning this spring. Initially, this will be with limits on capacity, but we’re hopeful of crowds ramping back up to full capacity next season.” Matchday revenue in the three months ending 31 December was £1.5m, a 95.5% drop year-on-year from £32.7m due to all matches being played behind closed doors. Cliff Baty, Manchester United’s chief financial officer, confirmed the club’s net debt of £455.5m, an increase of £64.3m over the prior year, was a result of lost matchday

revenue. “We are well-positioned to weather the current uncertainty and optimistic for the future” Baty said. Net debt is calculated as noncurrent and current borrowings minus cash and cash equivalents. The increase resulted in “a drawingdown of £60m of our available £200m credit line during the quarter”, Baty confirmed. United’s revenue was down 7.2% year-on-year to £281.8m, with profit dropping by 6.9% to £33.8m. Total broadcasting revenue rose to £156.3m, an increase of 60.1% compared with the same period

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in 2019. Commercial revenue was down 19.1% year-on-year to £122.3m. The 20-time Premier league champions went out of the Champions League in December and are currently second in the Premier League, but 14 points adrift of Manchester City with 11 matches remaining. Despite United’s potential title challenge appearing to fizzle out, Woodward took an optimistic tack about the club’s competitive health across the board. “The progress made by Ole Gunnar Solskjær and the players this season is clear, and our thriving academy

and women’s team are also adding to the optimism we feel about the future on and off the pitch,” he said. The club admitted there are "nearterm challenges" that need to be met as matches will continue to be played behind closed doors until the final week of the Premier League season. Woodward added that he was "pleased with this season's on-pitch progress". United are currently second in the Premier League despite recent poor form. Woodward also expects a likely decrease in domestic Premier League TV rights to be

ARSENAL PLAY OLYMPIAKOS

compensated by a rise in overseas deals. The Premier League is not due to go to market until the end of the season for the deal to run from 2022 to 2025, but Woodward said: "Growth in the UK is likely to be lower than the last two rights cycles but that should be covered by big growth on the international cycle. We are already hearing positivity regarding the deals as they come through." In 2019-20 financial reports, United announced an estimated £70m drop in revenue in the period to 30 June 2020 as a direct result of the coronavirus pandemic.. BD

PINNICK GETS FG'S BACKING FOR A PLACE IN FIFA SEAT

he Federal Government of Nigeria has handed the President of Nigeria Football Federation (NFF), Amaju Melvin Pinnick backing in his quest to win a seat on the FIFA Council – the highest decisionmaking organ in world football – at next week’s Confederation of African Football (CAF) elections in Rabat, Morocco. At a press conference addressed by the Permanent Secretary in the Federal Ministry of Youth and Sports, Engineer Nebolisa Anako on behalf of the Hon. Minister

Sunday Dare, the Government stated unequivocally that “ Amaju’s ambition would further reposition Nigeria in the global football map where we have made remarkable inroads” and indicated that his triumph would follow in the glorious steps of illustrious compatriots Dr Akinwunmi Adesina (re-elected as President of Africa Development Bank) and Dr Ngozi Okonjo-Iweala (first female/ first African Director-General of the World Trade Organization) in recent times. “If the NFF President wins the

position, it would not be a victory for the Federal Government and all Nigerians alone, but the African continent. He would be a great ambassador of our great country if elected into the FIFA Council. As a member of the CAF Executive, Pinnick is aware of the task ahead and the Federal Government’s support to the actualization of his dream,” Anako said. He added: “On behalf of the President of the Federal Republic of Nigeria, Muhammadu Buhari GCFR, and all Nigerians, we hereby pledge our unflinching support to Businessday.ng

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Pinnick because his victory would be our collective victory. “Sports Minister believes Amaju can use his position and connections in CAF and FIFA to help promote and develop Nigeria and African football in all ramifications. Let us be resolute and firm in our support…This is no time to stand on the fence, but to be partakers in the scheme of things.” NFF’s 2nd Vice President, Mallam Shehu Dikko, who stood in for Pinnick (who is already in Morocco), thanked President Muhammadu Buhari for his usual strong support for the NFF and Nigerian Football generally since coming into office, and assured that once victorious, Pinnick would continue in his usual way of influencing the appointment

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of Nigerians into FIFA and CAF committees and administrations, as he did while he was 1st Vice President of CAF and has been doing as Member, CAF Executive Committee and Member, Organizing Committee for FIFA Competitions. “As a FIFA Council Member, Pinnick will also be automatically a Member of the CAF Executive, which gives Nigeria a voice at both global and continental levels. This is not a Pinnick project, but a Nigeria project. If countries like Guinea and Madagascar can have people in the FIFA Council, there is no reason why a big football – playing nation like Nigeria should not.” President of the Nigeria Olympic Committee, Enginner Habu

Ahmed Gumel, gave a thumbs-up to Pinnick’s candidacy, saying “the FIFA Council seat is important to us, Nigeria and Africa, and we enjoin all Nigerian football stakeholders to be loud in their support for Pinnick.” NFF General Secretary, Dr Mohammed Sanusi enjoined all football stakeholders to join hands with

the Federal Government, the Federal Ministry of Youth and Sports and the NFF to give Pinnick strong support in his bid for the FIFA Council seat. Also at the event were NFF Executive Member Aisha Falode, Dr Simon Ebhojiaye (Director of Federations and Elite Athletes Department), Mr Ademola Olajire (Director of Communications, NFF), Ms Blessing Lere-Adams (Director of Press in the Ministry) and Mr John Joshua Akanji (SA Media to the Hon. Minister).BD

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s LaLiga Santander moves into the final third of the season, Matchday 26 looks set to be a very important round of action in the title race, in the quest for European qualification and in the battle to avoid relegation. The headline fixture for the weekend is the

Sunday afternoon Madrid derby between Atlético de Madrid and Real Madrid. There are several fixtures that could prove to be key in this season’s relegation battle, starting with Real Valladolid vs Getafe CF on Saturday. The latter just

ALL EYES ON MADRID DERBY AS TITLE CHASE GETS TOUGH earned a win last weekend to build up a five-point cushion to the bottom three, while Valladolid’s eight-match winless run means they’re level on points with the edge of the relegation zone and desperately need a three-point haul. Elche CF are currently second bottom, but have improved under new coach Fran Escribá and will approach their tricky Saturday afternoon fixture at home to Sevilla FC with confidence. It won’t be easy against such a strong opponent, but Elche's new 4-4-2 system is proving tough for opponents to break down. The next of Saturday’s bottomof-the-table tussles sees Cádiz CF host SD Eibar, a clash between 15th and 16th. Neither of these sides have won in their past seven LaLiga Santander matches, which sees them both hovering precariously above the relegation zone. Yet another crucial fixture.

have lost 4-0 at the Camp Nou earlier this season but remember how they picked up four points from six in their two meetings last season. Sunday is Madrid derby day, but before that SD Huesca host RC Celta, a duel between two sides who favour attacking football. This fixture finished 3-3 the last time these two sides met at El Alcoraz, so we could be in for an entertaining back-and-forth contest once more. Then, at 4.15pm CET, it’s one of the biggest Madrid derbies in years. Atlético de Madrid are top of the table and chasing their first championship since 2013/14, boasting a five-point advantage over city rivals Real Madrid coming into this weekend. With Barcelona in the mix too, Atleti know they can’t afford many slipups, while Diego Simeone also knows how significant a victory would be. Even though the capital city derby has been as competitive as ever over the past decade, Atleti haven’t beaten their neighbours in their last six attempts in all official competitions, not since their 4-2 UEFA Super Cup win in 2018. In LaLiga Santander, Los Rojiblancos haven’t enjoyed a derby win since the 2015/16 season, with the subsequent nine league derbies producing four Real Madrid wins and five draws. There’s something different about this year’s Atleti side, though, and they’ll surely feel confident as they take to the field at the Wanda Metropolitano, especially given Luis Suárez’s record of 11 goals in 17 appearances against Los Blancos.BD

FC Barcelona are up next on Saturday night at 9pm CET, with a very tricky fixture away to an in-form CA Osasuna team who have won four of their last six in LaLiga. Jagoba Arrasate’s side may Businessday.ng

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SATURDAY 6, MARCH 2021

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