BUSINESS
www.kharisafrica.com
Inform Inspire Impact
August 2016
BUSINESS INNOVATION
TECHNOLOGY
SUCCESSFUL ENTREPRENEURS
REAL ESTATE
Misconceptions about Innovation
Oko Nikoi-Dzani Chalks 25 years with NDK Financial Services
Effective Steps to Mobile Marketing
Expert Tips for first-time property buyers
ABENA BRIGIDI, AFRICA’S PHENOMENAL INVESTMENT BANKER ON CRITICAL SUCCESS FACTORS
BUSINESS
www.kharisafrica.com
Africa’s Premier Business Magazine
Inside
global business
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maximise the moment COVER STORY
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PUBLISHER’S NOTE NO MORE BUSINESS AS USUAL By Dr. Randy Osae Bediako
COLUMNISTS
06 10 16 22
A STYLE FOR HEALTH By Dr. William Okyere-Frempong
REGULARS
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LEADERSHIP EXCELLENCE By Bishop Gideon Titi-Ofei
SPIRITUAL ENTREPRENEURSHIP By Dr. Randy Osae Bediako
NEWS
TECHNOLOGY By Maximus Ametorgoh BUILD A MONSTER NETWORK By Dr. Renate Volpe, South Africa
www.kharisafrica.com
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McOTTLEY HOLDINGS GAINS INTERNATIONAL RECOGNITION
Kharis BUSINESS Maiden Issue 2016
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successful entrepreneurS
The Team PUBLISHER/EDITOR- IN-CHIEF Dr. Randy Osae Bediako ASSOCIATE PUBLISHER Mrs. Lois Osae Bediako (Esq.) MANAGING EDITOR Nelson Semanu Korkor EDITOR Michael Dorgbefu PRODUCTION MANAGER Joel Nortey DESIGN Mark Forson
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OKO NIKOI-DZANI CHALKS 25 YEARS WITH NDK FINANCIAL SERVICES
GLOBAL PROMINENCE
EDITORIAL ASSISTANT Portia Opoku Agyeman WEB DEVELOPMENT Centrifuj Communications PHOTOGRAPHY Eqonsept
BUSINESS
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HEAD OFFICE
Butternut Crescent House No. 6 Regimanuel Gray Estate, Comm. 19 Accra — Ghana
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08 4
JOHN ARMAH'S CONTINUOUS RISE TO GLOBAL PROMINENCE
Kharis BUSINESS Maiden Issue 2016
info@kharisafrica.com admin@kharisgroup.com
FACEBOOK Facebook.com/Kharisbusiness Kharis Business is published by www.kharisgroup.com
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Africa’s Premie
PUBLISHER’S NOTE
NO MORE BUSINESS AS USUAL ! “A strategy is something like, an innovative new product; globalization, taking your products around the world; be the low-cost producer. A strategy is something you can touch; you can motivate people with; be number one and number two in every business. You can energize people around the message”. Jack Welch, Former CEO, General Electric
A
IT INSPIRES
gainst all odds, and for almost seven years, we have succeeded in publishing what has become known as Africa’s premier international Christian magazine, Kharis Africa. The publication is now circulated in almost twenty countries and counting.
Inspiration is our hall mark. We strongly believe that Africa is the next big thing to happen to the world and that; there are clear business opportunities for Ghanaians to explore and fulfill their fullest potential right here. IT IS IMPACTFUL
WHERE IS THE NEXT DESTINATION? Somewhere late last year, it became obvious that our success at Kharis Africa needs a replica product for the mainstream business community. Kharis Africa had succeeded in serving Christian leaders as well as the business community, but we wanted something exclusive; a business publication that will focus on just the corporate community. Eventually, our dream of publishing an exclusive business read for Ghana’s burgeoning corporate community, Kharis Business has materialized. Kharis Business magazine is a 40page quarterly business publication produced to serve the Ghanaian business community. The publication provides expert analysis of key economic drivers with a soft spot for solution-oriented analysis. It features exclusive interviews and analyses on the following sectors: banking, insurance, investment banking, telecoms and technology, executive education, oil and gas, manufacturing, aviation and sports. The publication is targeted at middle to senior level decision-makers in corwww.kharisafrica.com
Thirdly, we intend to use Kharis Business as a tool to touch other lives and transform millions of destinies. We shall accomplish this through a number of campaigns and initiatives including, conferences, awards and special recognitions.
DR. RANDY OSAE BEDIAKO porate organizations, government as well as selected civil society leaders in Ghana. WHY READ KHARIS BUSINESS? There are three compelling reasons why every business leader and entrepreneur must read Kharis Business: IT INFORMS We are focused on informing our readers of the latest developments in the key sectors of the economy. We provide information that is driven by passion for economic prosperity for Ghana and Africa.
Again, in the words of respected business leader, Jack Welch, “A strategy is something like, an innovative new product; globalization, taking your products around the world; be the lowcost producer. A strategy is something you can touch; you can motivate people with; be number one and number two in every business…”We are keen on making Kharis Business the number one business read in Ghana, and by extension, Africa; we have a strategy that will work! Enjoy the read!
Randy Editor / Kharis Group CEO
Kharis BUSINESS Maiden Issue 2016
5
Monthly contribution of GHS 20.00
Best performing balance fund in Ghana, 2015
HEALTHY LIVING
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Medical Doctor, Leadership & Life Coach, Itinerant Preacher & Motivational Speaker. C.E.O HuD Group Ghana.
BY DR. WILLIAM OKYERE-FREMPONG
A STYLE FOR
HEALTH A person’s state of health is a major determinant of his/her quality of life and productivity. Conversely, the lifestyle and choices of an individual influences and impacts his/her health. The increasing correlation between lifestyle choices and some disease conditions has led to the categorization of some illnesses as Lifestyle diseases. Lifestyle diseases are ill-health conditions that are attributable to the way people live or the environment in which they live. They are also referred to as diseases of civilization in light of their upsurge with the turn of the era of industrialization. These lifestyle choices that have been established to impact on a person’s health include smoking, alcohol abuse, unsafe sex, stress etc. Arthritis, Cancers, Depression, Liver disease, Heart attack, Stroke, Diabetes Type 2, Obesity and Osteoporosis, are some diseases established to be associated with or exacerbated by prolonged exposure to these lifestyle behaviours. The causes of these lifestyle related diseases can be categorized into modifiable and non-modifiable factors; while non-modifiable factors are permanent, modifiable factors are those that an individual can exercise a choice to change or improve. The non-modifiable factors include ageing, www.kharisafrica.com
gender, race, a strong family incidence of a particular condition and a previous personal episode of the condition; while modifiable factors are the alterable choices that each person is in control of, such as unhealthy diet, physical inactivity, smoking, unsafe sex, stress and excessive weight gain. Obviously there is little one can do about the non-modifiable risk factors that you may be exposed to, but there is still a lot you are in charge of. Here are my prescriptions for a longer life:
1
. CHOOSE HEALTHY DIET OPTIONS AND HABITS: Eating late (less than two hours before bedtime) and consumption of more meat, oils, sugary foods and fizzy drinks maybe perceived as a sign of wealth and good living, but accumulate into a future of disease and ill-health. Don’t wait for your health to deteriorate to the point of taking a pill to stay alive. Choose more vegetables and greens over red meat and sugary or starchy foods, save your late meal and have it for breakfast (if your work requires high energy), avoid eating in between meals and do less portions than usual; you really don’t need to feel filled to be properly nourished.
2
.EXERCISE HABITUALLY: For many people exercise is either a corporate event or a desperate response to a failing health or unsafe weight. Exercise is known to improve heart, vessels and lung functions. Exercise improves your mood and helps deal with stress. Simply choosing to do a 30 minute walk in a day guarantees a healthy life.
3
.LIVE AND WORK SAFE: Avoid polluted environments, observe safety standards at your workplace and use protective work clothing.
4
.GET GOOD REST AND RECREATION: Rest is vital; it wasn’t for nothing that the Creator Himself rested. Good rest is restorative and rejuvenating. Many professionals sacrifice the need to rest for overtime pay, while others are stubbornly addicted to a busy work routine and have not been on leave in many years. While it is good to be engrossed in work, consider that you might be more productive if you are well rested and relieved of stress. Truth is, you are not as indispensable as you believe; work will definitely continue without you someday, so rest when it’s time.
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. INSURE AGAINST UNCERTAINTIES: The increasing cost of healthcare makes securing a healthcare insurance or policy vital. This ensures you can continue to access the best of healthcare in case of an unfortunate event. Do that for your dependents as well. So the news flash is that the lifestyle choices you make today will impact on your health now or in the future. Stay healthy and keep leading!
Kharis BUSINESS Maiden Issue 2016
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GLOBAL PROMINENCE
JOHN ARMAH
BECOMING UNSTOPPABLE!
John Armah’s Continuous rise to Global Prominence STORY BY NELSON SEMANU KORKOR
C
hief Executive, Entrepreneur and Uncommon Visionary. Those words aptly describe the young man who has been inundated with countless awards and recognitions, his age notwithstanding. John Armah is an Award-winning Entrepreneur and Consultant. Ranked as the 27th Most Influential Ghanaian by ETV Ghana (2012), Winner 2012 Ideas Award by Legacy and Legacy (2012), named as part of 20 under 40 Most Influential Business Leaders in Ghana by award-winning Business World Magazine (2015), recipient of the Global Young CEO’s Award for Entrepreneurship Development in Africa at the Young CEO’s Business Summit (2015) and National Union of Ghana Students Vice Chancellor Young Achievers Award for Entrepreneurship Development (2015). “I have always considered this journey as a calling by God to make a difference in my country and on the continent. Driven by the ordinary environment I grew up in, I had to make it a point to accept my fears and dare to make a difference in the lives of others through the experiences I gained in my journey of personal development. I guess the ability and belief in helping others through my failures and successes helped me transition into
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helping grow Ghana’s Startup ecosystem, supporting Startups and the Youth Leadership frontier.” John Armah grew up squeezed in a single room with four other people in Kaneshie, Accra. At 18, he had a dream to change lives. “I was born in Korle Bu Hospital, but I grew up in Kaneshie. From there, I moved around the country, and finally moved to Achimota, where I reside.” While in school, he worked as a library assistant at the Ghana International School (GIS), before joining Hotel Wangara as its assistant human resource and marketing manager at the age of 16. He left Hotel Wangara for university, where he established a job recruitment firm. It took soul searching and research, before the Ghana Center for Entrepreneurship, Employment and Innovation (GCEEI), now Orios Group, was born. The Orios Group, committed to redefining wealth creation in Africa, is a holding company with 3 subsidiaries namely, GCEEI, Trade Invest and Orios Foundation. The group is investment focused and committed to identifying, training and supporting scalable, impact based African startups founded by innovative entrepreneurs with a desire for social change and jobs as solutions to reducing Global Poverty.
NOTES TO EMERGING ENTREPRENEURS At the ‘tender age’ of 24; one may wonder how John has managed to carve such a niche for himself. “Success in business doesn’t happen overnight, it is a continuous process of validation, customer satisfaction, iteration fundamentally premised on building a good product with an immediate need and a market willing and ready to pay for the use of the product developed over time. As Emerging Entrepreneurs, let us build our capacity relevant to the industry we are in or hope to join, but also build good products and businesses capable of scaling with the right systems of management and structure in place. FORBES AFRICA 30 UNDER 30 LIST John Armah, CEO of the Orios Group, has been named among the Forbes Africa 30 under 30 Class of 2016. In a “thank you” message, Mr. Armah wrote: “Thank you to Ghana and Ghanaian Youth for your continuous support and belief in me; to my family, my board, partners, staff and clients, I say this is a push for the new journey we wish to carve, create and lead. May this inspire us to be greater than we will ever be; inspiring change, hope and solutions to www.kharisafrica.com
others.” John is empowering Ghanaian entrepreneurs to build successful businesses. “We have trained over 10,000 youth in Ghana, formalized over 50 businesses in Ghana. With no formal title, I am easily your business strategist, young investor and consultant”, he said in a recent interview. A NEW LEADERSHIP REORIENTATION On the continent’s leadership front, John believes “what Africa needs is a new breed of Leaders totally committed to creating “transformational” strategies for growth interlinked with regional markets but importantly, redesigning the economies inherited whiles restructuring with a reasonable buy-in”. Furthermore, he opines that, “for any of these to be achieved, Africa’s leaders must themselves be the examples of the new ethically responsive leaders we want, helping to shape the colonial minds we still have today. We also need to understand that the only way to overhaul the economies inherited is to allow greater room for private sector led growth, whether it is done through Public Private Partnerships or government strategically creating the enabling environment for such private sector led growth”. GREATEST INSPIRATION
Africa’s numerous challenges”. A statement by Forbes Africa Head of Marketing and Events, Alexander Leibner said: “This is the most important list of the year for Forbes Africa. Chris Bishop, Managing Editor of Forbes Africa, also said, “If one young African reads it and is inspired enough to start a business, it has done its job.” BECOMING A CHANGE-MAKER By every standard, John is your typical change-maker. “To be a change maker, the best approach is to adopt www.kharisafrica.com
a mindset that is disruptive to the way of thinking Africa is used to today”, he intimates. “Africa requires new thinking: selfless, patriotic, ethical yet strategy-oriented mindsets with an attitude driven to act on the implementable strategies formed. Specialization yet adaptability in key markets may well be the key to building our comparative advantage in this highly competitive world/Business Environment. There are 11 million new entrants into the job market in Africa each year and it is up to us to create jobs for them and also train some of them to create jobs for
“A constant trust in God, a willingness to endure and ability to turn setbacks into opportunities have helped a lot in this Journey,” John affirms. The award winning entrepreneurial leader got born again somewhere in 2008, during an event at ICGC, Christ Temple. “It was a great moment in my spiritual growth to experience Christ in a new dimension”, he recalls. John currently fellowships with the Ofankor Branch of the International Central Gospel Church. His faith in Christ has sparked an understanding of extraordinary business principles. The understanding of Christ’s death and resurrection for him, underpins his business. Just like any other entrepreneur, John’s journey has not been without challenges. How far he has come motivates him for what the future holds. That’s John Armah for you; He’s simply unstoppable!!! Kharis BUSINESS Maiden Issue 2016
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LEADERSHIP EXCELLENCE
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Ghana’s most influential behavioural leadership coach and the Founder and President of Almond Institute, a leading private Christian university in Ghana.
BY BISHOP GIDEON TITI-OFEI
The people
QUESTION
I
What Kind Of People Do I Need In My Life?
once pastored a small church at Teshie, a suburb of Accra. There was a popular young man who went by the nickname “I walk alone”. His real name was Daniel. For almost a year, I kept wondering why he went by that nickname. On one occasion when he had to accompany a relative to church for a child dedication, I mustered the courage to engage him in a conversation; my prime objective was to find out why he was called “I walk alone.” Surprisingly, he was a pleasant young man to converse with despite his unconventional lifestyle. He was no one’s friend. When I asked about his nickname, he smiled and said, “human beings are bad, if you walk alone you don’t get into trouble with anyone, nobody betrays you and nobody hurts you.” When Daniel was 12 years, his mother, Rebecca divorced his father and married his father’s friend. The result was that his father had stroke and was bedridden till his death three years later. Daniel’s father had gone ahead to marry his mother
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despite protestation from Daniel’s grandparents. This saw the divorce, which had led to his father’s death as a vindication of their position against his parent’s marriage. Some family members celebrated his plight. Daniel dropped out of school to take care of his father and younger sister. He hawked dog chains, newspapers, and ice cream to raise money for the home. Daniel became bitter and blamed his mother, the family, his father’s friends and employers who had refused to pay his father’s medicals, which he believed led to his death. I sympathized with Daniel’s traumatic experience, but I disagree with his conclusion. People need people to function, just as cars need fuel to function. Two are better than one, because they have good return for their work: If one falls down, his friend can help him up. But pity the man who falls and has no one to help him up! … Ecclesiastes 4: 9-12, NIV. Solomon’s view on friendship, partnership and association, is the best prescription I have ever come
across for strategic relationships. An association with the right kind of people will produce four major results: 1. Promotion 3. Power
2. Protection
4. Profits
Every association that does not produce mutual benefits is a wrong one. Positive rewards, results and returns are the bedrock of the right kind of association. Promotion If one falls down, his friend can help him up. But pity the man who falls and has no one to help him up! Ecclesiastes 4:10, NIV The right kind of association will help you up; it will not hunt you down. The right people in your life are like escalators; they get you to the top before you know it. Also, if two lie down together, they will keep warm. But how can one keep warm alone. The right kind of association will produce the right kind of energy that will empower you in your weakest hour. It jumpstarts your weak batteries and betters your performance. Sharing of energy is an integral part of the right kind of association. Protection Though one may be overpowered, two can defend themselves. A cord of three strands is not quickly broken. Ecclesiastes 4:12, NIV The right kind of people in your life will stand up for you; stand in for you and stand guard for you. Your fellowship with people must never sail astray.
www.kharisafrica.com
IMAGE AND LIFESTYLE
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Dynamic multi-faceted entrepreneur, store business expert, international speaker, lifestyle, image & wellness coach and talk show host. She is the Founder & CEO of DKD Holdings/Allure Africa Group, a multi-award winning premier Spa &Lifestyle.
BY DZIGBORDI K. DOSOO
IMAGE & LIFESTYLE
Knowing yourself and how to carry yourself gives you an edge over a competitor. Appreciate who you are and make a conscious effort to consistently improve upon yourself. Be sure to add value to the lives of people you meet.
I
f you could change your impact on those you come into contact with by at least 65 percent, would it be worth your effort to change a few Image and Lifestyle habits? Our abilities play a minute role when it comes to showing who we really are. Rather, our choices reveal the depth of our personalities. The term lifestyle denotes behaviors and orientations of an individual. Image on the other hand is a physical representation of a person. Making appropriate choices of our physical appearance communicates our brand. It is often said not to judge a book by its cover, but more often than not, we do. As a result, we sometimes don’t benefit from the content because we found the cover appalling. In a highly competitive world where people don’t have time to stop and know you, it’s your image that sells
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you. It is therefore expedient to add value to yourself by improving these two all-important areas: Image and Lifestyle.
1
. PERSONAL IMAGE
Every individual is a brand. Whether an entrepreneur or not, people will first buy the “You” brand before focusing on the company or institution you represent. When you encounter someone, an impression is formed within the first 30 seconds of interaction. In those 30 seconds, 7% of the communication is verbal, 38% from vocal tone: pacing and inflection and 55% from appearance and body language. Therefore, when an image presented is enthralling, the other party assumes immediately that you are in all, an interesting person. Knowing yourself and how to carry yourself gives you an edge over a competitor.
2
.LIFESTYLE
As we advance in life, we make various choices regarding our bed time, diet, associations, affiliations, clothes, to keep or not to keep a pet, job preferences, exercise routines, etc. All these and more constitute our lifestyle. Choosing a lifestyle is just as important as being consistent with the chosen path. Appreciate who you are and make a conscious effort to consistently improve upon yourself. Be sure to add value to the lives of people you meet. American businessman, Bob Nardelli said, “Without a coach, people will never reach their maximum Capabilities.” You are capable of projecting the right Image and having a lifestyle that works!
www.kharisafrica.com
SPIRITUAL
ENTREPRENEURSHIP “A lot of very rich men wait too long to give their money away. Warren Buffet, for example, is in his seventies now, and should have started earlier. Bill Gates is a young man, and he is already giving to help the world. That’s the right way to do it” Lev Leview, Israeli Business Magnate, Billionaire and Philantropist
DR. RANDY OSAE BEDIAKO Founder/ CEO, Kharis Group LLC
L
ev Leview, Israeli business magnate, billionaire and philanthropist has made a name for his flamboyant and aggressive charitable giving to communities. Levi has donated more money to charity than most of the other wealthiest people in the world. His business, according to him, is to make money, BUT HE DOES SO IN ORDER TO SERVE GOD BETTER. But God does not ask that more than a 10 or 20 percent commission be paid to charity. That is what we call Spiritual Entrepreneurship! None other could suffice. Levi has preached this exemplary generosity for years. The net effect is that he has been blessed with riches because he is a responsible steward of that blessing. The interesting thing about Levi is that unlike most successful entrepreneurs, he started giving back to God and country at an early stage. His goal was to tithe 10 percent of his income every year, but he soon found himself giving far more than that. Some years, it was 20 percent. Other years it was 30%. He founded Jewish day schools in the former Soviet states. His latest goal according to sources is to provide a free Jewish education for any American Jewish child who wants one. Israeli politicians and human right activist,
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Nathan Sharansky made a startling remark about him, ”I know a lot of rich people who give money. But Leview is on a completely different level. He’s building entire communities”. Come to think of it, as a teenager, he arrived in Isreal with literally the rags on his back. He and his family escaped the Soviet region of Bukahara and reached Isreal in 1971. He ventured into the Diamond trading business after an attempt at rabbinical studies. The rest they say is history!
NO AMOUNT OF GIVING WILL EVER MAKE YOU POOR! The richest man in the world is also incidentally, the greatest giver, somewhat. Isn’t that interesting? While charitable giving and consistently giving to support God’s Kingdom work open great doors to financial and other blessings like favour and good health, selfishness will vanish happiness out of one’s life. Zimbabwean businessman and telecom magnate, founder and chairman of global telecommunications group, Econet Wireless, Strive Masiyiwa had a net worth of $600 million as of November 2013, according to FORBES Magazine. He currently serves on a number of international boards including the Rockefeller Foundation, the Advisory Board of the Council on
Foreign Relations, the Africa Progress Panel, AGRA, and the UN Secretary General’s Advisory Boards for Sustainable Energy, and for Education. He is a juror of the Hilton Foundation’s Humanitarian Prize. He is also one of the founders, with Sir Richard Branson of the global think tank, known as the Carbon War Room. In 2012, when President Obama, hosted the G-8 Summit at Camp David, he invited him to address the G-8 leaders on how to increase food production, and end hunger in parts of Africa. Masiyiwa became a role model for other young African entrepreneurs through his vision and persistence. He won numerous national and international honors, including a place on Time magazine’s list of the world’s most promising young executives in 2002. Interestingly, Masiyiwa attributed his success in part to the ethical integrity he developed through the devotional practice of reading the Bible for an hour every morning. He and his wife Tsitsi also founded and funded a charitable trust that had provided scholarships for more than five thousand AIDS orphans as of 2003. Masiyiwa created a foundation that provides scholarships to orphans, including those whose parents have died of AIDS. www.kharisafrica.com
TECHNOLOGY
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One of Ghana’s leading social media training consultants and the CEO of PopOut; a firm that offers results-oriented services in digital, social media, mobile and content marketing as well as technology consultancy and training.
BY MAXIMUS AMETORGOH
EFFECTIVE T
STEPS TO MOBILE MARKETING
he mobile phone is now a ‘natural accessory’ on many people. They want to stay connected while on the go. They want to be reached anytime; anywhere there is reception either by SMS or via mobile apps. They do not want to be left out of any communication, personal or public. It implies they have money (or disposal income) to keep these devices connected to the Internet; they have some airtime to make calls or can receive calls and have some income to spend in acquiring a new mobile device over time or when they need to have one. They are the target of many businesses who want to market their products or services using the mobile phone. Mobile marketing involves the use of all the features and functionalities of the mobile phone to communicate with the user of the mobile device. Some of the main features and functionalities of the mobile phone include Short Message Service (SMS), Multimedia Message Service (MMS), Location-Based Functionality (GPS), Unstructured Supplementary Service Data (USSD), Applications/Games, Bluetooth, Notifications and many
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others. Because most phones have cameras, technologies like the Quick Response Codes (QR Codes) can also be used for mobile marketing. These can be used optimally and effectively depending on the competence of the consultant, the team of developers and the target consumer. According to the National Communication Authority of Ghana, there are 30.2 million mobile subscriptions in Ghana. This is so huge for a population of about 25 million people. Globally, there are over 7 billion mobile subscriptions. It means a lot of people have mobile phones or have indirect access to the mobile phone of a friend, or family member. The mobile phone is now a huge media channel to sell products or services.
THREE STEPS TO EFFECTIVE MOBILE MARKETING You must have clearly defined objectives as a business before you use mobile marketing. It will help you measure your returns or results. Having your objectives sorted, there are key steps (10Cs) to follow if you want to be effective in using mobile marketing to sell your products or services. We will focus on just three steps for now.
1Consumers:
. Know Your Target
You cannot send out messages in bulk to contacts that you do not know. As a business, you must know your target consumers very well. Know who they are, where they live, what they love to do and how they spend their money. You must also know the technology they use and the content they consume online. Do not fall for marketers who want to sell you phone numbers and bulk SMS. You must have a clear documentation on the target consumers you want to sell your products to; and if the mobile phone is one of the primary channels you can reach them on.
Gather The Right 2Contacts: .
There are several genuine ways to gather mobile phone contacts of your target consumers. Get the contacts of your existing customers who will be interested in receiving messages from you. Let them recommend their friends and networks to enjoy some discounts. Run promotions and loyalty programs which will enjoin them to give their phone numbers for subsequent campaigns. You need the right contacts and not just millions of contacts. Avoid violating people’s privacy by sending them unsolicited messages (SMS).
Choose Your Commodity 3(Products Or Services): .
You must know the products or services you want to market using the mobile platform. Be sure of what you are offering. Whether benefits of the products, affordable pricing, social status or durability of products. This will define how you design your campaign. www.kharisafrica.com
SUCCESSFUL ENTREPRENEURS
Oko-Nikoi
Dzani
“His parents were fish mongers and he was privileged to be the first in the family to get to the highest level of education. However, with an original dream of becoming a mechanical engineer by profession, Okoi-Nikoi Dzani now finds himself as the Founder and Chief Executive Officer of NDK Financial Services Ltd, Ghana’s leading player in the Non-Bank Financial institution category. His company recently celebrated 25 years of sterling services to clients with numerous success stories in his chest to boast about. Kharis BUSINESS had an exclusive interview with him on how he managed to lead his company through these years.
OKO-NIKOI DZANI Founder & Chief Executive Officer, NDK Financial Services Ltd.
CELEBRATING 25 YEARS OF STERLING SERVICE AND SUCCESS STORIES NDK Financial Services has grown from a staff of 2 to the current size of 90 with 2 branches; a head office and a branch in Tema. The company is now worth over GH¢ 500 million in total assets. “We mark our growth by the number of loan and investment clients we serve and by the number of lives and families we impact. Our focus therefore continues to be to remain a finance house with strong relationships with clients for sustainable impactful mutual growth. We believe it is this deliberateness in strategy that has ensured that we have weathered the many economic and environmental changes in the market”, Mr. Dzani reveals. Internally, the company refers to her employees and clients as being part of the NDK family and therefore strives to maintain a warm welcoming environment that espouses knowledge sharing, individualized and personalized service, as well as a fundamental desire to partner with companies to ensure their growth. It’s no wonder therefore that there have been clients who have been with the company for over 20 years! “At NDK,
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Kharis BUSINESS Maiden Issue 2016
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we are proud to celebrate with our clients and stakeholders twentyfive years of our Service offerings, the many stories and experiences we have garnered over the years and the successes of our clients in their lives. NDK began operations humbly at the time when NonBank Financial Institutions were not under any formal regulation. That notwithstanding, Mr. Okoi-Nikoi Dzani has been able to stand the test of time having built a successful business on integrity and customer service excellence that has won the heart of even industry regulators. “The NDK Touch is dictated by our culture and value of blatant obsession with excellent customer service. The NDK Touch starts from the moment a client walks into our doors and throughout our transactions,” he explains. STEPPING DOWN TO GO UP! Mr. Dzani has extensive Banking and Finance experience spanning over 3 decades. Prior to setting up NDK, he spent over 10 years working in the banking industry. In 1981, he began his banking career at SSB, now SG-SSB and rose through the ranks to Senior Manager. He was appointed Deputy Managing Director at Ghana Co-operative Bank and later became the Managing Director, from 1986 till his departure in 1992. “I was exposed to real banking and real finance during my stewardship
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of the Co-operative Bank with Dr. A. K. Appiah at the Ghana Corporative Bank. The government contracted the World Bank to help restructure all Commercial Banks in Ghana and to help clean their balance sheets of bad loans to make them viable and competitive and attractive, internationally. I had a lot of exposure in my dealings with the World Bank Committee during that period. I also had the opportunity to interact with the World Bank Consultants who had been engaged to assist in formulating regulations and guidelines that formed the basis of promulgating a law that would help regulate NonBanking Financial Institutions. It was the recommendation of the World Bank Consultants that gave birth to the Non-Banking Financial Institution Law PNDCL 328. I was very much challenged by the new developments in the financial sector and consequently decided to take advantage of the opportunity to establish a finance house, rather than pursue the practice of accounting which I had begun on a small scale.” The reforms seem to be a moment of destiny that Mr. Dzani could not let go. “I prepared the business plan for NDK in 1988 whiles travelling from Ghana to Vancouver, British Colombia, Canada. As they say, the rest is history.” Speaking at a recent anniversary launch, he said, “we began our operations from a rented space from the old Kingsway building
“Over the 25 years we have always refunded our numerous customers’ investments to them upon maturity”. “We have learnt a lot of lessons over the 25 years. The Lord has been gracious to us. We have what it takes to continue to build on the solid foundation we have laid. God has brought as far. We know we can continue to count on His Mercies, Favour and Grace”.
www.kharisafrica.com
on the Kwame Nkrumah Avenue. Our Landlord was Unilever. We were allocated a bare floor space. It was our responsibility to provide the panelling to create a suitable office. The wood for the partitioning was donated by my Godfather, the late Dr. Alhaji Adamu Idrisu of The Global Haulage Group of Companies. THE EARLY YEARS NDK’s first clients were primarily traders and businessmen importing goods for sale, and individuals who needed loans and would not be able to meet the stringent requirements of Banks. The business grew and over the course of a few years, the company became known as the alternative to banks. In 1997, NDK Financial Services had grown in reputation and clients to the extent that it relocated into its own building in Osu where brisk business continued. By this time, it had also developed a reputation as a reliable and trustworthy place to invest and save money. Today the investment arm of NDK is still regarded as a leader in the industry, providing safe, professional services while guaranteeing clients excellent returns on their investments. NDK Financial Services is the first and most experienced company in the Finance House category of the NonBanking Financial Services industry in Ghana. The CEOs’ strong professional credentials and experience have been NDK’s bedrock. Mr. Dzani is a Chartered Accountant by profession,
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and holds a Postgraduate Diploma in Development Finance from the University of Birmingham. He also holds an MBA (Entrepreneurship) from Ghana Institute of Management and Public Administration (GIMPA). He is a product of Achimota Secondary School. THE RELENTLESS PURSUIT OF INTEGRITY On managing investments for clients, he noted that, “Over the 25 years we have always refunded our numerous customers’ investments to them upon maturity”. According to Mr. Dzani, “integrity is valuable; because without it, we will not be in business – We are open, honest and responsible for following through on our commitments. Our dealings are therefore exemplified by truthfulness and the highest consideration for compliance.” As a successful entrepreneur, he’s been honoured to serve on several boards including, Boards of Federated Commodities Ltd., Global Haulage Ltd., Transroyal Ltd., Cocoa Merchants Ltd., NDK Capital Ltd., Igiyazi Properties Ltd., and Association of Finance Houses (AFH). CORPORATE SOCIAL RESPONSIBILITY Mr. Dzani is an ardent fan of hockey, which he also played for several years. His passion for hockey resulted in him taking on key Administrative and Managerial roles such as, member of the International Hockey Federation, member of the African Hockey Federation, 2nd. Vice President of the African Hockey Federation, and President of the Ghana Hockey Association. His company has been involved in the construction of Sand Based (1999) and Water Based (2009) pitches as well as supporting youth hockey development and participation in local, continental and international tournaments, examples being the first Youth Olympics Hockey Tournament in Singapore in 2010 and the NDK Financiers Hockey Team’s participation in the Greater Accra Hockey Senior League. The company
has also provided support for the Young Financiers Hockey Team. GIVING GLORY TO GOD One thing you easily discover about Mr. Dzani is how he has managed to integrate his faith into his work. He’s God’s businessman, insideout. “We have learnt a lot of lessons over the 25 years. The Lord has been gracious to us. We have what it takes to continue to build on the solid foundation we have laid. God has brought as far. We know we can continue to count on his mercies, favour and grace”. Mr. Dzani has served as an Honorable Treasurer of the Accra Ridge Church for thirteen years where he became born again. He has held key positions locally and internationally and served on several boards in private and public institutions. He was Chairman of the Greater Accra Lands Commission, 2nd Vice President of the Ghana Employers Association, member of the National Pensions Regulatory Commission (NPRC), and member of the Finance Sub-Committee of the International Hockey Federation (FIH), President of the Ghana Hockey Association, member of 1st African Financial Services board, a Council member of the Institute of Chartered Accountants (ICA) and a member of the Customs Excise and Preventive Service (CEPS) board. With a vision of becoming a globally recognized financial services provider in Ghana and a mission focused on providing tailored lending and investment solutions to customers with the view to creating stakeholder satisfaction, strongly anchored on lifetime values of innovation, professionalism, customer centeredness and teamwork, one does not need a prophet to tell what next this integrity and success-driven non-bank financial services provider will become in the next 25 years. We can’t wait to see it!
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FINANCIAL
MARKET REVIEW BY MUSTAPHA MENSAH (McOttley Research)
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critical study of the financial market over the last three months shows some positive trajectory compared to the same period last year. Though the economy has challenges, some macroeconomic indicators are showing either slight improvement or are stable. Below is an analysis on some indicators. MOVEMENTS IN TREASURY BILL RATES The GoG Treasury Bill rates for both 91 days and 182 days have been relatively stable in the second quarter as shown in the figure. As at the end of the second quarter 2016, the 91 days and 182-days treasury bill rates increased slightly to 22.66 % and 24.63 % respectively. The same trend is seen in the 1 year and 2-year note. This shows relative stability and some commitment by government to reduce the borrowing from the domestic economy which is crowding out investment in the private sector.
Source: Bank of Ghana
MONETARY POLICY RATE McOttley research had predicted that, the MPC would maintain the policy rate at 26 % for the fourth time this year. Our analysis of the economic fundamentals which include: outlook for inflation, forex market and development in the international financial market, indicates slight improvements. Therefore, the MPC got it right in maintaining the policy rate though its multiplier effect of high interest rates is a challenge for many businesses. With the continuous tight monetary policy stance of the BOG, we expect reduction in inflation and continuous stability of the currency in the third quarter, all things been equal.
In conclusion, even though the treasury bills market is relatively stable, interest rates on the market are relatively high resulting in high non-performing loans (NPL) by deposit money banks. With the slow growth in inflation, stable exchange rates and less borrowing by government from the domestic economy, we anticipate some significant gains in growth of the economy despite challenges in power supply.
FOREX MARKET VOLATILITY The Cedi has seen relative stability against all the major trading currencies since the beginning of the year. The second quarter of 2016 saw a much more stable currency as compared with the same period last year. According to McOttley research estimate, the Cedi had depreciated by an average of 3.75 % since the beginning of the year. We predict that, this trend might continue until the end of the year if the fiscal consolidation agenda is on course.
Source: BoG and McOttley Research
Email: research@mcottley.com
INVESTMENT & WEALTH CREATION
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Chief Investment Officer, Nimed Capital Ltd. NIMED Capital Limited is a wholly owned Ghanaian business with a drive to provide top-notch corporate finance and investment banking services to Africa and beyond. The firm also provides research and fund management services.
BY JEFFREY KENNETH BAIDEN
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BUILDING A SECURED FUTURE
THROUGH THE CULTURE OF
SAVINGS AND INVESTMENT
uilding a secured future is an aspiration and dream of every Ghanaian. We tend to live in regret of not indulging in early saving when thoughts of how to achieve financial independence pops up and becomes a worry. Knowing the relevance of a secured future is the beginning, saving and investing is the pathway, and being financially independent is success. Indeed, pitching our dreams against our reality tends to be a dilemma regarding how one can meet the recurrent expenditures of life while safeguarding the future competing goals. The big question then is: How do I create wealth and invest when I cannot survive on my monthly allowance? Differentiating our assets and liabilities is the genesis of our personal finance management. That said; an asset can be defined as something of future value that tends to generate future inflow in terms of money, whereas liability tends to cause an outflow on our current and/or future income. For this reason, it calls for a self-assessment of our lifestyle to www.kharisafrica.com
ascertain our assets and liabilities. Our ability to accumulate sufficient wealth to offset our basic expenses without actively working empowers us to be financially independent. An array of revenue assets and liquid assets leads to the creation of wealth. Revenue assets are more long term; thus, between three (3) years to five (5) years, but affords the opportunity of periodic payments in terms of profit, dividends, and interest and rental income. These benefits can be derived from investments like properties (either commercial and residential), stocks or equities on a listed exchange like the Ghana Stock Exchange, Bonds, and owning a business entity, to mention a few. It is imperative to keep investments in liquid assets like savings which cater for your day to day expenses as well as mediumterm financial goals. Other examples of liquid asset are investing in money market instrument such as Treasury Bill and fixed income investments. The advantage of all these asset classes include; augmenting pensions earnings; down payment on acquiring a
property; unforeseen health conditions etc. In order to achieve the goal of financial independence, you should follow these keys to financial independence:
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. Plan: Keep your life simple – low cost hobbies vs. high cost hobbies. Don’t try to impress people. The biggest impediment to financial independence is unbridled debt. Like a demon, debt needs to be exorcised. Be mindful of first time spending – buying a car, house and marriage.
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. Save: Practice and understand the power of little by little (SUSU). The habit of savings is a discipline that needs to be inculcated in every individual. One can practice the 10/10/80 Rule. Where 10 per cent of your income is used to pay tithe, another 10 per cent is saved and the remaining 80 per cent is used in self support.
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. Multiple Income Vehicle: The over reliance of one income source such as the remuneration from being an employee is not sufficient to meet your monthly recurrent expenditure. Thus, having additional income streams can augment your plans of building a secure future. For this reason, NIMED Capital Limited has designed suitable investment packages for individuals towards the achievement of medium to long-term goals.
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MANAGEMENT FOCUS
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South African recognized expert and coach, in the arena of people development, leadership and change management. She won the “Most Influential Woman in Business and Government Awards 2007 – Education and Training″ as well as the Winner of the CEO Magazine Award.
BY DR. RENATE VOLPE, South Africa
BUILD A MONSTER
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NETWORK
aving spent a lifetime working alongside men (twenty of these in some or other way related to the mining industry), I have some insight into the differences in working style between men and women.
Men relate more matter-of-factly. They relate to each other in a ‘transactional manner’. What is the issue, what resources are required, what can I do for you, what can you do for me? Long have men been criticized by women for their avoidance of emotional content in communications - this may well be a source of frustration in intimate relationships - however, it certainly works well for men in the world of work. A study undertaken by INSEAD Ibarra in 2003 cited “poor networking” as one of the three reasons why women have difficulty climbing the corporate ladder. South African research undertaken by I Boninelli in 2003 corroborates this research. She identifies four different levels of relationship and networks. Firstly, an intimate network is reserved for a handful of close relatives and friends. People you would share intimate life details with and to whom you would turn to for assistance on very intimate issues. Secondly, a support network, extends to a larger group of people, but focuses more on friendships that could provide practical assistance
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mostly in social and family life spheres. Thirdly, a collaborative network refers to a group that works together for a common purpose e.g. a project team. Fourthly, a contact network is where people network for business leads, information, influence access and power. This of course alludes to the wonderful gifts women bring to the world of work with regard to feminine leadership, relationship intelligence and people management. However! Life is not about all or nothing. It is about balance, and selecting an appropriate style of interaction, in a particular context, and for a particular purpose. Currently there is an immense amount of activity on the Women in Leadership frontier. Networking has been identified as one of the primary competencies required for women to succeed on their journey towards corporate leadership. Women have to make a shift from intimate relationships and “new best friends” to collaboration and mutual support for the benefit of all. Feminine collaboration is critical if women desire to improve their lot in the world of work. A common vision of the future would necessitate, in particular, senior women making the decision to support younger up and coming women, simply because they are females striving for career success. In respect of mutual support and shared resources, entrepreneurs and
professionals will have to liaise more than ever before. Employed women will have to reach out across company boundaries (and perhaps even competitive boundaries) to support one another. The Cell C “Take a Girl Child to Work” Campaign has been referred to as the largest collaborative volunteer effort ever. Apparently,
The four different levels of relationship and networks identified by Dr. Renate Volpe. 1. Intimate network 2. Support network 3. Collaborative network 4. Contact network competing cellphone providers crossed the chasm and supported this initiative. We as women have to support one another in terms of referral to female professionals such as lawyers, dentists and doctors. We need to bring to bear our rich network of friends and associates. In the words of the wonderful woman Gill Markus, “We as individuals have to re-stitch the fabric of society.” It’s not about whether we like each other, ladies! It is about whether we believe that we can truly make a difference. We can make the world of difference! There is a saying; “The enemy - it is I!” Let us overcome our egos, move beyond the spirit of competition, and confront beliefs of scarcity. Let us stand alongside and behind one another, and let us be counted! It is often said, that if our society were ruled by women there would be less violence and fewer wars. So let us start small and make a difference, for the better, in our direct area of influence. www.kharisafrica.com
ECONOMIC DEVELOPMENT
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Managing Editor, Kharis Business
BY MR. NELSON SEMANU KORKOR
GAME CHANGER DISCOVERING DUBAI’S STRATEGIES FOR ECONOMIC SUPREMACY AND GLOBAL PROMINENCE
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http://oliviapalermo.com/travel-guide-dubai/
ransformation is not impossible! Dubai ranked first in the Arab World for doing business and the third most business friendly city in the world. Dubai is also ranked 17th by the World Bank and the World Economic Forum in global competitiveness; they are also ranked by JLL and Forbes among the top 10 most influential cities in the world. Dubai is rated as the number 1 single airport retailer operation in the world. There were 78 million passengers at Dubai international Airport in 2015 with a growth in passenger traffic being 10.9%. Also tourist arrivals were 14.2 milion with 96,300 hotel rooms [with 4,000 new rooms per year] and apartments produced by 667 hospitality services or industry. The meteoric rise of Dubai as a world tourism destination economic superpower pedestals it as a global change maker. There are several lessons to be gleaned from this enviable transformation.
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. A STRONG DIVERSIFIED ECONOMY : Dubai does not depend on natural resources to fuel its economic growth. Despite being a major oil exporter, the UAE asks for a renewal of the Kyoto protocol and is a major investor in solar power. Regardless of the international turmoil over the cost of oil, Dubai is already considered to be the Hong Kong of the Middle East. When the world’s oil supply runs out and/or it’s no longer needed, Dubai would survive in a new oil-free world unlike Riyadh.
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. VISIONARY AND DEVELOPMENT-ORIENTED LEADERSHIP: The major turning point in the history and fortune of Dubai was the discovery of oil in 1966. Coupled with the joining of the newly independent country of Qatar and Dubai to create a new currency, the Riyal, after the devaluation of the Persian Gulf rupee which had been issued by the Government of India, it enabled Dubai to rapidly expand. In 1958, upon the death of Saeed bin Maktoum al Maktoum, Sheikh Rashid bin Saeed al Maktoum became Ruler. Rashid al Maktoum is widely regarded as the driving force behind the expansion of Dubai, causing its massive expansion, with the aid of the discovery of oil. Once the first shipment of oil was made in 1969, the
future of Dubai as an autonomous state was secured, and its ability to dictate policy in later years to the UAE was cemented. Sheikh Mohammed bin Rashid al-Maktoum became Emir in 2006 after the death of his brother Sheikh Maktoum al Maktoum and had been the de facto ruler for decades; he is credited with helping to force Dubai’s rapid expansion.
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FOCUS ON INFRASTRUCTURE AS A CENTRAL PIVOT OF DEVELOPMENT: It’s an secret that there can be meaning development without the necessary infrastructure. Foreign direct investment goes hand in hand with the available infrastructure. It is sad to note that many Sub-saharan economies have lagged behind simply because of the lack of infrastructure. In recent times, Dubai has become known for its successful building projects, including the Burj Al Arab, the world’s tallest freestanding hotel, [the $2,000 per night hotel on a man-made island in the Persian Gulf — private butlers are on call 24/7 for each guest.] The Palm Islands, a construction of three artificial islands in the shape of the date palm, on which residential & commercial property will be built and The World Islands, a massive manmade archipelago of 300 islands in the shape of the world, and Burj Khalifa, which is the world’s tallest manmade structure. Terminal 3 at Dubai International Airport is the largest airport terminal in the world, and the second-largest building in the world in terms of floor space. By all indications, Dubai’s meteoric transformation from a simple trading port to a diversified bustling global metropolis with worldclass infrastructure poses a great challenge to all and sundry. Kharis BUSINESS Maiden Issue 2016
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Abena Brigidi CEO, Nimed Capital Ltd
COVER STORY
MAXIMISE THE MOMENT What on earth could make a new entrant into a competitive banking industry poach a national service personnel to join her team? Could it be by chance or simply a matter of preparation meeting opportunity? Nimed Capital CEO, Abena Brigidi, one of Ghana’s finest customer service chieftains and investment analyst opines that certain lifetime opportunities are moment of destinies that must be seized with both hands. In an exclusive interview, she speaks to Kharis BUSINESS on her career trajectory, highlighting the critical success factors.
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AN ENGAGEMENT WITH DESTINY! s with most tertiary students, one of Abena’s key priorities during vacations were her internships. This she did a number of times while studying at the University of Ghana. But it was not just internships that led Abena to an engagement with destiny; she had an attitude that differentiated her from her mates. One thing for sure, that sets Abena Brigidi apart is her strong sense of customer service. To be precise, that was what won the heart of a former deputy managing director of Zenith Bank Ghana Ltd while Abena was still doing her national service at uniBank Ghana Ltd. Mr. Aigbokhaevbo Kingsley, who had come to open an account with the bank happened to meet Abena, then a fresh graduate with a Bachelor’s Degree in Humanities [Political Science and Geography]. It was a moment of destiny that formed the bedrock upon which her entire career would be built. Did she seize the moment? Abena recalls the experience with much delight: “At the time I was at the customer service desk when the deputy MD of Zenith Bank [they had just gotten a license then from the Bank of Ghana] came to the banking hall. He first requested to open a savings account, and I took him through all the procedures. When I finished, he said no, ‘I don’t want that anymore! I want a current account’. I kept my posture, remained calm and patiently took him through all the details. When I finished, he again changed his mind that he wanted a corporate account instead. I assisted him to fill all the details, then he said that he needed to take the form away to get the other signatories. And so, I packaged everything nicely for him”. That was not all, Abena did something extra that finally won the heart of this ‘difficult customer’: She added a note that details all the things Kingsley was required to provide on his return to the banking hall, and to him, this was exceptional customer service. He had found his ‘Chief Customer Service Officer’ in Abena Brigidi, who immediately was poached to serve at the customer service desk at Zenith Bank. So in May 2005, Abena began her career on a fresh page with Zenith Bank where she spent three and half years before exiting as Relationship Manager. “I was passionate about customer service at all fronts. My flair for the financial industry www.kharisafrica.com
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was unquestionable. I joined Zenith bank as a Customer Service Advisor and was made the Head of Customer Service during which I was made to train new recruits and set up the customer service department at new branches of the bank. I later moved further to relationship management in the year 2007 and managed to build a remarkable client base ultimately making me a star marketer for the bank.” With five years of experience as a Relationship Manager and Head of Customer Service at Zenith Bank, Abena then left to join All -Time Capital, an investment bank as Vice President, Sales and Marketing with responsibility over Marketing and PDT Development, where she spent another two years. As is her usual hallmark, at All-Time Capital, Abena successfully built a private and corporate wealth portfolio with her core value being client satisfaction. She again exited this company in January 2010 to further her studies in the field of finance, an area she had fallen in love with. In 2011, Abena graduated with a Master of Business Administration (MBA) from East London. Her final stinct as an employee was at Karela Oil and Gas between January 2010 and August 2014, where she spent four years in the position of Chief Financial Officer. . TRANSITION FROM RETAIL BANKING TO INVESTMENT BANKING Abena has always been a banker though she did not study that for her first degree. But what could make a customer service chief make a transition to co-founding and leading an investment bank? Abena, the strategist and master tactician always does wonders at anything she sets her eyes on. While at the UK for her masters programme, she got the opportunity to serve as a graduate trainee at the investment banking division of Halifax plc; a bank operating in the United Kingdom as a trading division Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group. Halifax is UK’s largest provider of residential mortgages and savings accounts. On her return to Ghana, Abena’s interest in retail banking had totally waned; the passion for investment banking had taken her over. She immediately got enrolled at the Ghana Stock Exchange having been certified as a financial
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analyst. So what is it about investment banking that shook Abena’s heart? “While in the UK, I realized that people saved with a goal; savings was not something people did when there was surplus. I also saw that investment banking in the UK was more active and had more options for clients than what was being done in Ghana”. These points made Abena see an “open door“ to venture into the field of investment banking. NIMED CAPITAL IN SCOPE Nimed Capital’s competitiveness lies in their team of professionals who understand the macro and microeconomic dynamics of the business environment. “Our choice of investments, corporate and asset allocation strategy are strongly reliant on our expertise, experience and relevant research which aid us weigh the right investment options capable of generating attractive longterm returns.” Abena had taken seed while working at All Time Capital Ltd and, considering the experience she had gathered so far, she began to contemplate a more flexible working
schedule for herself. Abena therefore, started putting together the necessary documentation for her dream business while on maternity leave. She teamed up with three other partners to create what is now called, Nimed Capital, one of Ghana’s latest investment banking firms, and currently serves as the Chief Executive Officer. Nimed Capital was licensed in October 2015 by the Security and Exchange Commission as an investment banking firm as well as the National Pensions Regulatory Authority as a pension fund manager. The company has expertise in the areas of corporate finance, funds and investment management as well as investment research. Nimed Capital’s key strength areas lie in her ability to put the interests of clients first by investing time to understand who they are, their operating framework and the opportunities and challenges they face. The company also provides practical advice through her experts to develop profitable, operational solutions for clients. As should be expected, the team at Nimed www.kharisafrica.com
trust as critical success factors. “Teamwork is very important though often, because of targets, competition may creep in with its associated politics and the kind. Also, people are different and you cannot apply the same method to everyone; there is the need to tolerate individual differences”. On leadership however, she points out that, “The major challenge you’ll have with team is execution. As a leader, your inability to get your team to buy into your vision and execute the plan the way you want it, can lead to failure. You can have all the great ideas and strategies but when it comes to implementation, it can be challenging”. Finally, on trust, she emphasizes that, “You need your team to trust you. When they know you and understand what you do, they will give out their all because, competence always makes leadership easier. People do not enjoy following a novice. People enjoy working with leaders they know they can learn from and not just for remuneration”. IMPROVING GHANA’S CAPTIAL MARKETS
I was passionate about customer service at all fronts. My flair for the financial industry was unquestionable. I joined Zenith bank as a Customer Service Advisor and was made the Head of Customer Service during which I was made to train new recruits and set up the customer service department at new branches of the bank. I later moved further to relationship management in the year 2007 and managed to build a remarkable client base ultimately making me a star marketer for the bank.
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Capital consists of personalities with good customer service as an integral component of their way of life. According to her, “We adjust our services to suit the personality of our clients.” UNCOMMON FAVOUR FOR BUSINESS SUCCESS Abena believes that success is impossible without the God factor. Considering her entire career trajectory over the years, she summarized it as a manifestation of uncommon favour. “My entire career has been God’s uncommon favour and grace. I have come this far by His grace. Every step has been ordered by Him”. With just a few months of operating as an investment bank, Abena confesses that God has been extremely good to the company in every respect. MANAGING AND LEADING PEOPLE On organizational leadership, Abena confesses that it is never easy dealing with people, but she however, gives some perspectives on what it takes to have a successful career. She identifies teamwork, tolerance, leadership and
Capital markets across the world have been engines of economic growth and Ghana’s financial markets are no exception. However, as a financial analyst, Abena believes one area that needs much attention and drive is education about available investment opportunities, something she believes not much has been done as far as the field is concerned. “People need to be taught to invest towards starting a business, building or buying a house, pursuing education and even in marrying”, she said. With much effort in public education on investment, Abena believes that we can build a strong economy where most people will have some sort of financial freedom. EARLY CHILDHOOD Back in her schools days, Abena’s attention for details and strong quest for success made her among the best in her class. “I always make sure I pay attention in class and also engage in a lot of group discussions.” Though not a typical front runner, the unassuming Abena exercises a lot of control over people and engineers things a lot. As should be expected, she has used these skills to chalk a lot of success Kharis BUSINESS Maiden Issue 2016
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in her career. Abena Brigidi was born to Mercy Asamoah Boachie and the Late J. K. A Boachie. Both parents were successful business people. “Mom was a trader at Makola while Dad was a renowned businessman in Kumasi, Boakye Company Ltd.” It is then no surprise that today, Abena has taken the same route! GETTING TO KNOW CHRIST Abena is your typical church ‘girl’. She has actively been involved in the choir and other groups within the church for years since her early childhood. “For me, I was trained in the house of God. Growing up, my mother took me to church almost everyday”. In fact, at age 10, Abena who could preach with much authority [something she still does], would tread over long distances just to make it to church. In those days, there was virtually services everyday of the week. Abene worships at Assemblies of God [Restoration Centre of Excellence in Roman Ridge, Accra] under the leadership of Rev. Alex Nkrumah. CONTENDING FOR THE FAITH OF THE FATHERS Abena is of the view that there are a lot of things happening in the church today that leaves much to be desired.
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“Today, it’s sad to note that church has been turned into a marketplace”. Though she argues that “money is good and a blessing from God”, she is against pastors asking people to come and “buy” the word of God. “You don’t need to bribe God with money before He does things for you. It’s not scriptural”, she emphasizes. What then should be the focus on Christians today? The highly anointed Bible Teacher, Abena provides some clues: “There is so much work in God’s vineyard for everyone to do. We all have to preach to everyone we meet”. She continues, “For me, we should go back to witnessing Christ to the lost because, when you seek him first, every other thing comes with it. So, you don’t seek prosperity when you haven’t found Christ, neither do you seek health when you don’t know Christ because wealth and health are in Him”. Contrary to popular opinion, Abena argues it is never enough for professionals to give their tithes and offerings and other special financial contributions to the church; they should have time for kingdom work. “When you read the book of Revelation, you’ll see that on the judgment day, we’ll each give an account to Christ. He will ask you: What have you done for me? And just saying you were the church’s major sponsor won’t be enough!
Every Christian has a commission to preach the word both with his mouth and character. The church needs the support of all professionals to go out and spread the gospel [which requires a lot of money], but we’ll also have to participate in the art of bringing people to Christ. The more we go out, the more we can bring a lot of people to Christ,” she emphasizes. Abena is happily married to Legal Practitioner, David Cobbina Brigidi. They are blessed with twins: Nimi and Edesemi Brigidi. Abena lived most of her years in Achimota [until she married and moved to East Legon] and also schooled at the prestigious Achimota School as well as Aburi Girls. Obviously, success at one thing provides the stepping stones to other greater accomplishments. Abena showed signs of greatness at an early stage and it is no wonder she has left indelible footprints in her career path. Only God knows what she is about to do next with Nimed Capital, but it will undoubtedly be a great success.
CORPORATE PROFILE
NIMED Capital Limited provides a cutting edge personal and professional inve with an emphasis on optimum portfolio performance, which commensurate w long-term relationship with our clients. In summary, we take the worry out of www.kharisafrica.com individuals and families make prudent financial decisions at critical stages in th
NIMED is licensed and regulated by the Securities and Exchange Commission the National Pensions Regulatory Authority (N.P.R.A.) as Pension Fund Manag
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THE SMARTPHONE NETWORK
BRANDING
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Founder & CEO of 3i Consult; a contemporary, pan-African strategy and talent development consultancy in Accra. Clarence is a bonafide marketing professional with over a decade of experience. He was recently named by Glitz magazine as one of the inspirational young professionals under 40 in Ghana.
BY CLARENCE NARTEY
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BRANDING
WITH CLARENCE idea
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brand is a set of marketing and communication methods that help to distinguish a company from its competitors and create a lasting impression in the minds of customers. A brand could also be a product, service, or concept that is publicly distinguished from other products, services, or concepts so that it can easily be communicated and marketed. A brand name is the name of the distinctive product, service, or concept and branding is the process of creating and disseminating the brand name. Branding can be applied to the
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entire corporate identity as well as to individual product and service names. What is most significant is that a brand should have a purpose and a clear point of view, which frames its connection with its target. The process of branding is an exciting combination of science and art (magic and logic). For a brand to succeed, it must address the needs of the people it is meant for; it must deliver relevant solutions to improve the lives. A brand should not just touch lives, its existence should grant people a different experience when they come into contact with it; an unforgettable
experience that will create a craving to associate with the brand. Powerful brands are built on emotions. Therefore, understanding and managing this emotional dimension is pivotal to delivering competitive advantages. Thankfully, digitization of the marketplace has now made branding more effective — it provides more collaborative ways of connecting to the global marketing loop and enables practitioners gain access to real-time information on competitive landscape. It also provides a more collaborative engagement with consumers. For instance, the invasion of social media facilitates the communication process, providing quick feedback from consumers or clients. However, the Internet is a borderless world and the initiation of conversations by consumers may present real risk to brands. It is paramount that companies put in place measures to monitor online conversations involving their brands and manage issues that arise. Though digital marketing is still somewhat new in the area of marketing, companies and their agencies ought to invest in building the right capabilities to unlock growth opportunities for their brands. A successful brand is measured by its growth, but how is this perimeter measured. Brand builders must have an uncompromising stand on quality and must also operate with the idea that, the “consumer is king.� These principles are essential to establishing effective service standards. Whichever way one looks at it, a brand only exists because the consumer chooses to keep them alive.
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CHARACTER BUILDING
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The Executive Director of Salt and Light Ministries in Accra and the Former CEO of Ghana Chamber of Mines. She’s an internationally recognized management and communications expert.
BY DR. JOYCE R. ARYEE
CHRISTLIKE CHARACTER
“If you love those who love you, what reward will you get? Are not even the tax collectors doing that? And if you greet only your brothers, what are you doing more than others? Do not even pagans do that? Be perfect, therefore, as your Heavenly Father is perfect – Matthew 5:46-48. NIV
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hat is not the will of God for us. True, He has given His commandment to us and indeed requires our obedience, but He requires an obedience that rises from a transformed and new nature, not the kind that is achieved through practiced “self-control” over thought word and deed. Enter Jesus Christ - Son of the Most High God, One with Him - who was before creation and yet who became like us. Jesus took our nature and overcame its weaknesses and shortcoming so that He could give us His nature and thus through Him we can attain the glory of the character of God. This God, has revealed the totality of Himself through Christ Jesus. What Jesus teaches us is therefore what God desires for us to know so that we can become what He wants us to be. In Luke 6:27-36, Jesus clearly teaches us to love our enemies and do good to those who despitefully use us. YES! Those who go out of their way to hurt us with their words
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BUSINESS Maiden Issue 2016
and actions - the self same ones are the ones we are to love and pray for. Not to retaliate, not to get even. We are not even to insist on our rights by them. I don’t know about you but I still struggle with this. I still need a daily heavy dose of God’s grace and power to love those I know want my downfall - those who malign me at the least opportunity they get. Praise God that His grace is sufficient and that His strength conquers our weakness as we read in 2 Cor. 12:9. The admonition to be as compassionate as our Father as Christians is a command that comes with a promise. God’s plan of salvation accomplished by Jesus Christ actually contemplates our complete recovery from the power of Satan. Indeed Christ came to destroy the works of the devil as we read in 1 John 3:8. He has made provision to ensure that all who come to faith through Him would be given the Holy Spirit not only to keep us from sinning but also to help us grow more and more like Christ Jesus and thus attain the perfection of God.
There are two great facts about the Christian ethic which I would like us to consider:
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. The Christian ethic is positive. It does not consist in don’ts - we are not admonished NOT to do things. The very essence of Christian conduct is that it consists, not in refraining from bad things but rather in actively doing good things.
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. The Christian ethic is based on the extra thing. We are called to do more than the ordinary. Think of David who gets a providential opportunity to do unto Saul, what he had been doing unto him. But what was David’s response? He refused to kill his great enemy Saul, but rather left the vengeance to God. That was extraordinary! - it was supernatural because David allowed the Spirit of God who indwelt Him to enable Him to do the extraordinary thing. In the passage above, Jesus draws attention to the common ways of sensible conduct and clearly dismissed them by indicating that there is nothing special in doing the ordinary things such as loving those who love us and doing good to those who do good to us. Jesus calls us to do much better than the standards set by the world. Our standard of conduct is those set by God. It must be God’s standard or nothing. He is kind to the one who brings Him joy as well as to the one who grieves His heart. God’s love embraces saints and sinners alike. Where would we be if He didn’t? That is why we must do as He says - He calls us to copy His character and seek the highest good of our enemies. The command and promise is that we be as compassionate even as our Father is compassionate. We can do no less! www.kharisafrica.com
McOttley Holdings Gains International Recognition for Quality The latest Platinum award was presented in the presence of industry captains and representatives from 49 countries at the International Quality Summit Convention.
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cOttley Holdings Limited has been awarded with the International Quality Award in the
Platinum category. This is the second in the series of international awards McOttley has received within a year for its commitment to
The prestigious award was received on behalf of the company by Mr. Richard Dugan, Group President & CEO in recognition of its Commitment to Quality, leadership, Technology and Innovation in the pursuit of Excellence.
quality. The company was awarded
McOttley Holdings Limited is an umbrella company with three subsidiaries namely: an investment banking firm, McOttley Capital; a money lending outfit, McOttley Money Lending which provides loans to Small and Medium Scale Enterprises as well as McOttley Properties, a top-notch real
the International Star for Quality
Convention Hall. The BID Group
award in Leadership, Innovation and
president, Jose Prieto, who made the
company. It is praiseworthy that
Excellence in the Gold Category in
presentation, praised McOttley for its
despite operating under very harsh
2015 by the BID Group in Geneva.
pursuit of excellence and commitment
economic conditions, the McOttley
to quality in its service delivery. He
brand has prided itself again for
explained that the annual recipients
its continuous commitment to
of the awards are companies that
excellence and international quality
underpin their operations with
standards. It is no wonder then that,
innovation and quality. According to
her strategic positioning has gained
him, the BID International Quality
recognition from the international
Awards is presented to those
business community, further
companies and organizations from
enhancing its reputation.
The latest Platinum award was presented in the presence of industry captains and representatives from 49 countries at the International Quality Summit Convention. The prestigious award, received on behalf of the company by Mr. Richard Dugan, Group President & CEO, was in recognition of its commitment to Quality, Leadership, Technology and Innovation in the pursuit of Excellence. The award which was received on May 30,
around the world that best adhere to excellence and innovation in their business practices, putting quality first at all levels of the organization. McOttley Capital Limited also
2016, was through the Business
won the International Financial
Initiative Directions (BID) in the
Magazine award for Best Client
2016 International Quality Award
Service Investment, and Best New
at the New York Marriott Marquis
Investment Bank Ghana in 2015.
www.kharisafrica.com
estate and property management
Kharis BUSINESS Maiden Issue 2016
33
BUSINESS INNOVATION
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Founding President & Executive Dean of Nobel International Business School (NIBS) in Accra, Ghana. An award winning international scholar, Kwaku is ranked the Number 2 innovation management scholar in the world. He has lectured at Harvard Business School, Queensland University of Technology, Australia and at the City University of Hong Kong.
BY PROFESSOR KWAKU ATUAHENE-GIMA
MISCONCEPTIONS
& HALF TRUTHS ABOUT INNOVATION https://clearactioncx.com/wp-content/uploads/2014/01/ Customer-Experience-Innovation-Consulting.jpg
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nnovation strategy recognizes in corporate independent innovation – thus, vibrant innovation capacity of organizations and nations. Developing corporate independent innovation capability in Ghana requires understanding and protection against some misconceptions. Below are my perspectives on some misconceptions about innovation:
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. INNOVATION IS ONLY ABOUT TECHNOLOGY AND PRODUCTS
The solution to this is to take a 360 degree view of innovation using the 3W +1H equation. What? (Offerings = products, services, people, business model, etc.) Who? (Customers = markets, customer experience, value capture, users, etc) Where? (Presence = networking, supply chain, etc)
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BUSINESS Maiden Issue 2016
and How? (Processes, organization, management, etc.). This presents the complete picture of the subject of innovation.
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. RADICAL TECHNOLOGY/ DISRUPTIVE INNOVATION ARE THE ONLY MEANS TO CORPORATE GROWTH. This originates from the correct observation that new technology tends to create new products and indeed new industries. Yet, it ignores the great insight that corporate growth can occur through incremental innovations and sustained growth through radical innovation also requires cash generation through incremental innovation.
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. RESEARCH AND DEVELOPMENT IS INNOVATION
R&D is an input into the innovation process to create value for customers. This misconception has caused many companies to have “pockets on innovation” where innovation is seen as the preserve of people in R&D and engineering. This misconception has a twin, and that is top management support for innovation is through increasing R&D spending. In 2000, two colleagues and I surveyed R&D Directors of 117 R&D intensive companies in the US. Based on their answers to one question: How effective is your R&D in achieving the performance objectives of the organization? We categorized this sample into two: High (68) versus Low (47), and explored activities that differentiate the two groups and found the following: • R&D management – understanding markets, customers, capturing and using R&D learning, measuring. • Senior management support involving disciplined leadership, attention to development, encouragement of bootlegging as well as effective performance measures. Many CEOs know innovation is important for the success and growth of their companies. But few take action to make it happen because of what I call the FUD factor – Fear, Uncertainty and Doubt about their ability to lead innovation. As Confucius, one of the greatest innovators of all time, once said: “To see what is right and not do it is lack of courage”. www.kharisafrica.com
At competitive interest rates, get a uniBank SME loan to sustain and expand your business for growth.
REAL ESTATE
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Dial Hom
We make sure you find your dream hom 0544510009
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Content Developer, Lamudi Ghana
07000-526834
BY DELALI KUMAPLEY
EXPERT TIPS
FOR FIRST-TIME PROPERTY BUYERS
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Buying a property, whether a parcel of land or a standalone house, can be a confusing process for interviewed some experts in the real estate sector to take their top tips to aid first-time buyers in choosing the right property.
ndoubtedly, purchasing a house or a parcel of land is one of the biggest investments you may ever make. With a lot of money at stake, making your very first real estate purchase can seem like an incredibly daunting task. One of the main concerns for first-time homebuyers is which property to invest in and what to look out for to ensure what they are buying is genuine. Lamudi Ghana has sampled the views of a number of the country’s top real estate developers to collect their expert insights for first-time property buyers.
CYRIL TAY, DEVTRACO PLUS Before they get started, firsttime property buyers should ask themselves the following questions:
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BUSINESS Maiden Issue 2016
- Do you intend to live in the property immediately or do you want to capitalize on the strong rental market and lease it out? - If you are investing, have a clear plan - is it a short term or long term investment? - How soon are you looking to earn a return on your investment? Answering these questions will help you determine whether you should buy an acre of land in Aburi or a two-bedroom apartment in Labone. Perform due diligence on the developer to check the following: - Track record: Were their past projects delivered on time? What was the final quality of these projects? - Competence of the project team: Get to know the management behind the sales associates and executives to reinforce the trust in the brand.
- Adequate financial muscle: Be comfortable that the developer has the funds to finish the project and is not relying on buyers’ deposits to build. - Competence of the builder or contractor: Find out if the developer does their own construction or engages the services of a third party general contractor. If they use a third party general contractor, investigate their track record in delivering quality. - Know what you are getting: Be clear about the net size of the apartment, finishing materials, and appliances. - Legal issues: Confirm the developer owns the land, understand the lease agreements.
ERNEST HANSON, LIFESTYLE PROPERTIES “Engage the services of a qualified professional, such as a licensed surveyor and lawyer. In addition, do your own due diligence and combine your gut feeling with opinions of professionals to firm up your decision.”
RICHARD MAGLO, REGIMANUEL GRAY LIMITED “Do not be in a rush to purchase any property - land or house. Conduct a thorough search by visiting the Lands Commission to clear any doubts you might have about the property you intend to purchase. Insist on seeing the documents to the property before you buy it. Most importantly seek the services of an expert. It will save you a lot of time and resources by avoiding needless litigation or refund for buying the wrong property.
www.kharisafrica.com
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Dial Home We make sure you find your dream home! 0544510009
07000-526834
START-UP FINANCE
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Analyst, United Capital Advisors UNITED Capital Advisors Limited is an investment bank that provides investment advisory and fund management services such as Pension Fund Management, Wealth Management, Corporate Finance Advisory, Financial Planning And Research.
BY NOEL TETTEH
FUNDING DEMYSTIFIED!
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f a survey is taken on some of the biggest hurdles entrepreneurs, or even companies face, a general answer will stand out. A host of individuals and companies have had to shut down their operations due to lack of funding; with limited funds, it’s difficult to achieve anything. What is funding? Funding is the act of providing financial resources, usually in the form of money, or other values such as effort or time, to finance a need, program, and project. We will start off with the basics: What is Bootstrapping? Though not a commonly used term here in our part of the world, in the context of business, bootstrapping is the act of starting a business with no money — or, at least, very little money. Boot strappers rely usually on personal
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income and savings. In other words, it is “Minimalism Applied to Business”. Many of today’s largest corporations (such as Apple Inc., Coca Cola, Dell Computer, Hewlett-Packard, and Microsoft) began as boot-strapped ventures. Jobs and Wozniak started building computers in Jobs’ parents’ garage in the 1970’s. Today, Apple Inc. is worth about $530 billion. Aliko Dangote, Africa’s richest man with a net worth of $18.3 billion, started his business with a loan from his grandfather. Fred Deegbe, the brain behind ‘Heel the world’, the luxury footwear brand made by skilled craftsmen in Ghana started out from his parents’ house in Accra, with savings from his bank work and help from his business partner. Start with little! CROWDFUNDING: Crowdfunding is a method of raising capital through the collective effort of friends, family, customers, and individual investors. This approach taps into the collective efforts of a large pool of individuals— primarily online via social media and crowdfunding platforms—and leverages their networks for greater reach and exposure. Crowdfunding allows for a wider pool of small investors with fewer restrictions and is ideal in the early stages of a business, especially if you don’t qualify for a bank loan, aren’t ready for angel or venture capital funding (as outlined later in this
article), or don’t have the friends or family willing or able to provide the “nostrings-attached grant.” The 3 primary types are donation-based, rewardsbased, and equity crowdfunding. In this day and age, opportunities for funding are available from a wide variety of resources due to the advent in technology and the World Wide Web. Popular crowdfunding platforms include Indiegogo, Kickstarter, Crowdfunder, Gofundme, RocketHub, Peerbackers, ThundaFund, M-Changa etc. In Ghana, Slicebiz, ActionGhana and GroupInns are some of the major Ghanaian crowdfunding platforms available. However, more education and sensitization are needed for it to be more effective. ANGEL INVESTING: Companies such as Google, Twitter, Whatsapp, Facebook and Uber are what they are today partly because of Angel Investing. An angel investor is an investor who provides financial backing for small start-ups or entrepreneurs. The capital they provide can be a one-time injection of seed money or ongoing support to carry the company through difficult times. The Ghana Angel Investor Network (GAIN) is a network of Angel investors with a passion for investing in early-stage businesses with significant growth prospects and the potential to generate superior returns. Budding entrepreneurs seeking to get their ideas funded can use this approach if crowdfunding doesn’t work well for them. There are numerous other means of funding of course, each with their pros and cons; hence the appropriate research must be made before making that choice. A ton of information is out there so research, make enquiries, and move forward with that vision!
www.kharisafrica.com
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