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00:00So we're going to go ahead and get started in just a moment.
00:31Again.
00:35Our first panel this morning will be speaking to the business of financing and investment.
00:45If we mean business, we must get comfortable with talking about money more.
00:50And not just money, but how money works and how money empowers the businesses that we do.
00:55Allow me the privilege of welcoming our moderator, Ms. Zino Daniel Afyebe.
01:03Welcome, sir. Please appreciate him as he comes up.
01:07We're privileged to have Zino, who is a true champion of financial inclusion.
01:13He has spent over two decades transforming the digital payments landscape across Africa.
01:20From leading financial institutions to shaping policies that drive economic empowerment,
01:25he has dedicated his career to ensuring access to financial solutions for businesses, underserved communities, and women.
01:35Please welcome Zino, who is seated comfortably now.
01:38Welcome.
01:40Joining him on the stage is Olajumoke Bello.
01:44Good morning and welcome.
01:47She is a powerhouse in enterprise banking and SME growth.
01:50With over 21 years of experience shaping financial strategies that help businesses scale,
01:58she has been instrumental to unlocking funding opportunities for countless entrepreneurs,
02:03ensuring that businesses thrive in competitive markets.
02:06And today, she'll be sharing a thing or two about smart financing for sustainable growth.
02:11Good morning and welcome.
02:13And thank you for honoring us with your presence, Olajumoke.
02:15David Alao is also joining this panel.
02:22I don't see David. Not yet.
02:25So, let me welcome Onome Odometa to join the panel, please.
02:30A round of applause as she comes up.
02:33She's a financial expert whose work in wealth management has empowered numerous high net worth individuals and businesses
02:41to navigate complex financial markets.
02:43As the head of the elite business division at Leadway Asset Management,
02:48she has mastered the art of growing and sustaining wealth.
02:52Onome, we are looking forward to learning from your expertise in financial strategy,
02:56and we say thank you to Leadway for making this possible.
03:00Please appreciate them again.
03:02Ladies and gentlemen, please welcome on stage Bukola Oshikomaya.
03:08She joins up.
03:10She's a trusted and respected family business advisor,
03:15currently serving as the head of private wealth and family office at Leadway Asset Management.
03:21I'm sure some of us will say, what is this family business and family asset management thing?
03:26Recently, I got to know a little more.
03:29When we become wealthy enough, we need people like Bukola to advise us on how to structure our businesses.
03:36Perhaps not even when we become wealthy enough.
03:40To become wealthy enough, we need the guidance right now.
03:44We mean business, so let's learn how it's done.
03:47Welcome, Bukola.
03:50And I now hand over to Mr. Moderator.
03:54Thank you, Zina.
03:56Thank you very much.
04:07Ladies and gentlemen, you notice I said ladies more, higher, with a higher tone, and gentlemen with a lower tone.
04:17Ladies and gentlemen, you are welcome to the We Mean Business Guardian Women Festival.
04:26It's a pleasure to be here, and I'm excited to be in the midst of professionals, women.
04:32And do we know the theme for the 2025 International Women's Day?
04:38Alright, so I'll just say the first word, and please say the second word.
04:43Accelerate.
04:45Perfect, we know it.
04:47And when you think about acceleration, and you think about telecoms, what comes to mind is the fastest means of connectivity, which is 5G.
04:56Well, in the We Mean Business segment here, we are going to talk about 5G from the perspective of women.
05:05Five Gs.
05:07The first G means grit.
05:10The second G means gallantry.
05:14The third G means guardianship.
05:17And the fourth G.
05:19The fourth G is giftedness.
05:24And the fifth is guidance.
05:275G, representing our women.
05:30Please, can we give ourselves a round of applause?
05:34So when you think 5G, that's what you should bear in mind.
05:38But on this panel, we're going to focus on investments, because for women to grow their businesses, you need to have the right investments.
05:47And you need to know how to use financial resources as they are made available to you.
05:54So we have an exciting panel here.
05:56I'm just going to do a very quick 30 second run through those we have here with us.
06:01Although MC has done a beautiful job in mentioning the organizations we come from.
06:06But let me just tell you what makes me excited about each of these panelists.
06:10Beginning with Bukola Oshikomaya.
06:13You know, she currently is with Leadway Asset Management.
06:18She possesses a deep understanding of the intricate challenges faced by private clients, affluent families.
06:25And she is committed to advocating for a balanced approach to wealth preservation, management, and transfer.
06:34She is an alumnus from Pan-Atlantic University, where she holds an MSc.
06:39And she has a vast career across multiple organizations, which of course is going to share some insights with us.
06:48So please, another round of applause for Bukola, please.
06:51Thank you, Zeno. I'm so excited to be here today.
06:55And I'm looking forward to having a beautiful conversation with us all.
06:59Great. And we'll move on to Bukola's immediate right, where we have Onome Odometa.
07:05Now, Onome, she is currently the Senior Vice President and Head of Elite Business in Leadway Asset Management.
07:13And she has a career of several years in multiple organizations where she's managed large portfolios.
07:23Her focus is on practical solutions, take note of the word, and clear insights.
07:29So if you're going to leave here today with benefits from Onome, you should get something practical.
07:35You can start doing immediately and also relevant insights.
07:40She currently leads the Elite Business at Leadway Asset Management.
07:45And she's an alumnus from INSEAD in France, and also the London Business School.
07:51You're welcome, Onome.
07:56Thank you for your applause.
07:57We have expert women professionals we will learn from today.
08:02Then, of course, we have Olajumoke Bello.
08:07She is to my left, and she is currently the Head of Enterprise Banking at Stambic IBTC.
08:15She has over two decades of experience within the financial services ecosystem.
08:20She is an alumnus of the University of Manchester in the UK.
08:23She is a detail-oriented strategic and analytical thinker.
08:27So let's let the mathematics of money work for us today.
08:31She will show us how.
08:33So you're all welcome to the panel.
08:36We are going to have a conversation today over the next 20 minutes or so.
08:40And basically, to set the tone for us, I'm going to throw out for the benefit of all of us here a few numbers.
08:47The first number, 294.
08:50Let me dress it properly.
08:53$294 billion.
08:56That represents the credit gap for women businesses in Nigeria.
09:01That was revealed by Dr. Kadoso, the current central bank governor in October last year,
09:07when he signed off on what is called the Wi-Fi Code.
09:10Here's another number, 51.
09:13Let me dress it again. 51%.
09:1651% of Nigeria's adult population of 111 million people are women.
09:21Which means 49% are men.
09:24So if products are being designed without that gender lens,
09:29the entire ecosystem is missing out on half of the opportunity.
09:33A little bit more than half of the opportunity.
09:36Here's another number, 5.
09:395% of adult Nigerians aged 18 years and above are the only proportion in the capital market.
09:485%.
09:495%.
09:51And this is a decline from 2020's 6%.
09:56So it's always been low.
09:58What can we do? What should we know about in order to properly invest?
10:03What can we do about the assets that we have in our families?
10:09Thinking about the next generation that will follow us to ensure that they have a safety net.
10:14Well, enough preamble. Let me go to the first question.
10:17And the first question really, and I'll start from my extreme left,
10:21is to understand currently what solutions and products does Leadway Asset Management have
10:27that supports women in starting, sustaining, and growing their wealth and business?
10:35Thank you very much, Zinu.
10:38So apart from the fact that Leadway is very inclusive in its employment of women
10:47into leadership positions, we have women in strategic positions across all the groups in Leadway.
10:53We have a specific, I would say, project that we have designed for young women.
11:03It's called Heart Assured.
11:05You can go online and check it, Heart Assured.
11:08H-E-R, then Assured towards the end.
11:11Just go online, Heart Assured by Leadway.
11:13You'd see, you know, the link to the website.
11:17It's a community of young people that Leadway brings together.
11:21We have about 600 people at the moment, and it's just a year old.
11:25You know, these young people are trained on financial education,
11:29and then we pick strategic ones, the ones who already have businesses and need mentorship,
11:37and then we pair them with mentors.
11:39We currently have about six of them at the University of, I mean, Obafemi Aulo University,
11:43whom we have paired with our CFO and some strategic people within the organization.
11:49So every week, they get one or two information from their mentors,
11:54and they give their mentors feedback, too.
11:56And then we are very, very intentional about the resources we commit to this.
12:02I think sometime next week, I think Friday, we're going to have a meeting with all of these people
12:09where we would both celebrate International Women's Month,
12:11and then also do like a one-year anniversary of, you know, High Assured.
12:18Apart from this, we also have, you know, this, we try to educate women, too,
12:28on the importance of legacy planning.
12:32We understand that at the end of the day, women are usually at the receiving end
12:36when there is no legacy plan.
12:37Most times, women end up with the children when something happens to the husband.
12:43You hardly want to give your children away,
12:45so you are left with the responsibility of taking care of the children.
12:48When there is a divorce, most times, women end up keeping the children.
12:53So they always would have need for finance,
12:57and we understand that having a great financial plan for your life
13:02isn't just all about having money.
13:03It's about having the freedom to make the right choices.
13:08So these are the things that shape both how we design our product
13:13and even whatever project we have currently targeted at women.
13:17I'm sure Onome might want to say a thing or two.
13:20Yeah, thank you, Zeno.
13:22I think that Lady as an organization,
13:26we are extremely passionate when it comes to women empowerment,
13:29and I think that was one of the reasons why High Assured was birthed.
13:33And apart from all that Bukola has mentioned,
13:38is the fact that we do have products that are tailored for women,
13:42and we also do encourage women to ensure that they also have some sort of
13:46financial stability by investing wisely,
13:50so you don't have to wait to have a fortune for you to start
13:54or for you to begin investment.
13:56You can actually start gradually,
13:58because if you look at sometimes,
13:59a lot of women do have some fear when it comes to investing.
14:03They see it to be, oh, you have to have a lot of money.
14:06You have to have millions somewhere before you can invest.
14:09But the truth is you don't have to do that.
14:12You can actually start gradually
14:14and then build your way towards growing your wealth
14:17and ensuring that you do have some sort of financial freedom.
14:20So Leadway, we are obviously very passionate about that,
14:23and it also shows in how we also empower our female staff
14:27and ensure that there is a pathway to growth
14:30and to grow to interleadership roles for the women in the organization.
14:37Thank you very much, Onome.
14:39That's lovely, and also Bukola.
14:41I picked an expression from your statements,
14:45what you said, which was financial freedom,
14:48and that helped me come up with an equation.
14:51And do we want to hear the equation?
14:53The equation is financial access
14:57plus financial usage
15:01plus financial health
15:04equals financial freedom.
15:07Did we get that?
15:09It's not enough to have access to an account.
15:12You need to use the account,
15:14use it properly, financial health,
15:17then you open the gate to financial freedom.
15:20We're going to come back to that some more.
15:22Let's hear from Stambik IBTC.
15:24So what do you have for women?
15:26Thank you, Zeno.
15:28For us at Stambik IBTC,
15:31we have a Blue Blossom Women proposition.
15:36It's a community,
15:39it's a platform that actually empowers women.
15:43So we created this to bridge the gap
15:46that we know exists in terms of women representation
15:50in industries and various sectors.
15:52So on that platform,
15:54we give you resources.
15:56We also make available opportunities
16:00for you to network,
16:02opportunities for financial growth.
16:04You're able to get personal and business finance solutions.
16:09You can get solutions on insurance,
16:12investment, pension management,
16:15estate planning, trustee setup.
16:17So many resources are made available for you
16:20on that Blue Blossom platform.
16:22We also give you solutions and product offerings
16:27whereby you open an account, you get discounts.
16:30Because we know women,
16:32we have to encourage women.
16:34We have to also support women.
16:36And we have to also make sure
16:39it's easy for them to access this support.
16:42So we make the fees discounted for you.
16:45We make sure that you have available
16:48available advisory services
16:51that can also equip you to grow your business.
16:54So for us, we follow the tagline
16:58that when you support women,
17:01businesses thrive and economies prosper.
17:06So that's why we actually want women
17:09and we push for women to succeed.
17:13Excellent. When you support women,
17:14businesses thrive and economies prosper.
17:19We're not just saying this because
17:21this is International Women's Month.
17:23This is proven by research studies.
17:26The organization I work for, AFINA,
17:28once every two years, we carry out a study
17:31with National Bureau of Statistics.
17:33We interview about 27,000 people.
17:35This is the feedback we are getting.
17:37Women are preferred savers.
17:39Women are preferred borrowers.
17:41So we've heard a few things so far.
17:42We've heard about mentorship.
17:44We've heard about the need to know that
17:47you can start small.
17:49We've also heard about the importance
17:51of having financial literacy,
17:54really understanding what is out there.
17:57Now, let me go to one point
17:59that has affected a lot of women,
18:01and that is going to the wrong investors,
18:04the unregulated investors.
18:07We've heard about wonder banks.
18:09So women who have been victims
18:10of wonder banks don't want to touch investments.
18:13So women who have gone into the stock exchange
18:16may have unfortunately invested
18:18in poorly governed companies,
18:22and they rubbed their hands off it
18:24and said, I'm not going back to stock exchange.
18:27What would you advise as the right approach
18:31for any woman entrepreneur
18:33who wants to make investments
18:35to get it right and have her funds safely
18:38and rightly, properly invested?
18:40What should she watch out for?
18:42So who do we start with?
18:44Okay, Onome, please go ahead.
18:46Okay, thank you.
18:48I think this is a very, very delicate situation.
18:51It's actually very sensitive
18:53because I actually encountered a client of mine
18:55about two weeks ago
18:57who actually was in a similar situation.
18:59And what I would say is,
19:01as a woman who wants to invest
19:03or you're looking for investors,
19:05do your research.
19:06Read up on the industry.
19:09Read up on whoever it is
19:11that wants to invest in your business.
19:13Whether it's you wanting to do the investment
19:16or it's the other way around,
19:18do your research.
19:20One thing about research is history never lies.
19:22There's always a repetition.
19:24And when you do your research
19:26on certain organizations
19:28or certain individuals who want to invest,
19:30you'll be able to pinpoint
19:32or find whatever red flags there are.
19:34And that will then inform you
19:36on what choice you eventually get to make.
19:39Also, when you do your research,
19:42you would know what sort of rating they have.
19:44A lot of organizations have bodies that govern them
19:47and then they have their credit ratings.
19:50You don't want to go for an organization
19:53that isn't properly regulated or rated
19:56because then you're obviously opening the doors
19:59for different issues or problems.
20:02And I think there are certain pitfalls
20:04that as a business owner
20:06and then as a woman,
20:08that you need to avoid.
20:10Once you see these red flags,
20:12you know very well to avoid them.
20:16Excellent. We appreciate that.
20:18And Bukola?
20:20And just to add to what Onome has said,
20:22if it's too good to be true,
20:24it's most likely not true.
20:26And it's important to use regulated advisors
20:32when you're investing
20:34because they have a fiduciary duty.
20:36They're obligated both ethically and legally
20:40to act in your best interests.
20:42So in that instance,
20:44if you give them your money,
20:46they know that they ought to put your money
20:48in regulated instruments.
20:51And if you're not comfortable
20:53with the equity markets,
20:55you have the money markets.
20:57You have commercial papers
21:00of rated organizations.
21:03You have your bonds,
21:04your treasury bills.
21:06And you have the savings bond
21:08for the federal government.
21:10You can start off with very little amounts.
21:15And there's no excuse, really.
21:18And again, you need to also understand
21:20how investment works.
21:22A pool of funds is invested
21:24in vehicles that give returns.
21:27And you earn from these returns.
21:30When you invest in vehicles
21:32that you can't see.
21:35And someone is saying,
21:37collect money from Onome,
21:40give it to Bukola,
21:42and I will give you 50%.
21:44What are they putting that money on?
21:47How are they earning the 50%?
21:50Are you sure they are not paying
21:52Robin Paul to pay Peter?
21:54So we need financial literacy as women.
21:59If you look at all the wonder banks
22:00that have gone bust on social media,
22:03most of the victims are women.
22:06Women will say, I have prayed about it.
22:09But they will not research.
22:11They will not learn.
22:13They will not go back
22:15and consult past history.
22:17They won't ask the right questions.
22:19They won't ask that, okay,
22:21this organization,
22:23do you have an audited report?
22:25I want to see it.
22:27Okay, my friend that is an accountant,
22:28can you help me look through this?
22:30These are very important matrices
22:33that you can't afford not to consider
22:36when you're investing.
22:38Thank you very much.
22:40Thank you very much.
22:42And Jumoke, do you have any perspective on this,
22:44looking at what the commercial bank is doing
22:46when it comes to investments?
22:48And maybe you may want to also speak about
22:50access to credit,
22:52barriers preventing women micro-entrepreneurs
22:55from having access to credit.
22:56So investment on the one hand,
22:58and then credit.
23:00Okay, I think Onome and Bokola
23:03have actually spoken
23:06on the investment extensively.
23:08The only thing I'll just add is that
23:10women also need to learn to diversify their income.
23:13So in terms of looking at it
23:16and ensuring that you're putting,
23:18you're not putting all your eggs in one basket.
23:20They say you have to save X percentage
23:23of your income monthly.
23:24But while saving,
23:26what else are you doing?
23:28So you're saving X percentage here.
23:30You're investing X here.
23:32And that's where you have many different portfolios
23:36that you're creating for yourself.
23:39And you can start moving in between them also.
23:42So investment is not a one-size-fits-all
23:46that you continue till perpetuity.
23:49You have to keep monitoring it.
23:51You have to keep moving in between.
23:52But mostly,
23:54you have to keep upskilling yourself also.
23:57So that also lets you know your risk profile.
24:01And that's me going into the credit leg now.
24:04So when you upskill yourself,
24:06you as a teenager,
24:08you as a fresh graduate,
24:10you as a fresh worker,
24:13your risk rating
24:16and the level of risk you're willing to take
24:19moves on as you move into retirement.
24:22So that's also what guides what you invest in.
24:26So in terms of the access to credit,
24:29I tell people that
24:31a lot of women
24:33shy away from credit.
24:36So in terms of looking at your business,
24:40we like to invest our equity,
24:42which is our own personal funds
24:44or funds from our friends,
24:46funds from husbands,
24:48because we think
24:49that's the level at which we want to play,
24:53we want to operate.
24:55So we need to start expanding our minds.
24:58And that's coming from upskilling ourselves.
25:01We need to also learn to raise our hands up.
25:04So your business has reached a certain level.
25:06It is not a hobby.
25:08It is a business.
25:10And it's a business that is also empowering others.
25:12You have employees.
25:14That's personal pride.
25:16You want to take it to the next level.
25:17You want to have more shops.
25:19So start accessing this credit,
25:21because I find that women who access credit
25:25are the best people to learn to.
25:28Women actually repay facilities.
25:31So we have this preference for women,
25:35but women need to raise their hands up more
25:38to access this credit,
25:40to know that this credit, this business,
25:42is not a side hustle.
25:44This is my business, and I want to see it grow.
25:45I want to approach this bank with my financials,
25:49show them my cash flow,
25:51the returns I'm making on my business,
25:53and I will get this bank to support me.
25:56Because this bank has products
25:58tailored to women to help women grow.
26:01And that's it.
26:03You will get that support.
26:05But we need to stop shrinking ourselves
26:07to the stereotype that people have created,
26:10to say, this is what you can do.
26:12And rather, what do I want to do?
26:17Excellent. Thank you very much.
26:19Yes, these contributions indeed deserve a round of applause.
26:23Can we applaud them one more time?
26:25Practical insights that we can implement right away.
26:30And one thing which we have heard is awareness.
26:33Financial literacy.
26:35The next question we might ask ourselves is,
26:38okay, all this sounds good,
26:40but where do we go, and how do we start?
26:42So, where do we go?
26:43I know that we have, in the other side of the hall,
26:47the various booths.
26:49And our panelists here have their booths,
26:52so you can ask further questions in that regard.
26:55But there's something that would be a miss for us
26:58if we don't touch on,
27:00which is for career women,
27:02there are certain points in life
27:05when they might pause and stop on their career journey.
27:10How do they ensure that their goals are achieved?
27:13So, I'm talking about women in leadership.
27:15Many African countries are looking at Nigeria right now,
27:18especially with women in leadership
27:20in the financial services space.
27:22In 2012, we had less than four CEO women.
27:26As of today, we have at least ten.
27:29So, can I ask, Onome,
27:31if you can talk a bit about women in leadership.
27:34What are some things that our career women in our midst today
27:38can focus on, pay attention to,
27:40to ensure that the goal is achieved
27:41despite the punctuations in life's journey?
27:46Thank you, Zeno.
27:48That's a very interesting question.
27:50And I think along the line when I'm speaking,
27:53I will use myself as an example.
27:55I think a lot of times,
27:57we don't see women who are so confident
28:00to want to actually demand for what they deserve.
28:05So, another thing also is women shy away,
28:08and I always say to women, always speak up.
28:11No matter what it is you want to say,
28:13you may think it sounds stupid, but say it.
28:16Speak up. Speak up when you are in rooms,
28:18you are in offices, always speak up.
28:20And there is something I learned at INSEAD,
28:23is the three Cs to value.
28:26So, first thing is you have the value creation.
28:29And this concept actually works,
28:31regardless of who you are,
28:33regardless of what industry you're operating in.
28:37Value creation for a business,
28:38for you to actually establish or execute
28:40an idea that you have,
28:42you obviously have to create it.
28:44So, you have to create value.
28:46The second step is value communication.
28:49When you create the value,
28:51it's not enough to create it
28:53and then keep quiet about it.
28:55You have to communicate to the right persons.
28:58And I'm going to use myself as an example.
29:00When I joined my previous place of employment,
29:03I was actually a contract staff.
29:05And when I came into the organization,
29:06myself and other ladies that were hired
29:09were just doing the normal day-to-day things.
29:12We would go out in the morning,
29:14go out for our marketing calls,
29:16return back to the office,
29:18have your daily meetings,
29:20and then you go home.
29:22But at some point, I knew that wasn't enough.
29:24If I desired to get to a certain level
29:26or a certain stage in my career,
29:28I had to do something different.
29:30I had to be proactive
29:32and go out of my way to add more value.
29:34Because if you really want to work,
29:36you have to grow or rise in any organization.
29:39It's not enough to just do what you are hired for.
29:42I can be in sales or in business development.
29:45If all I do is just that,
29:47you may grow,
29:49but then it's going to be at a very slow pace.
29:51So what I did was,
29:53I saw that there was some opportunity for me.
29:56I call it opportunity because it's not a problem,
29:58but I call it opportunity
30:00in the client service department.
30:02The company at the time didn't have
30:03a functioning client service department.
30:06Statements weren't being sent to clients.
30:10Holiday or goodwill messages
30:12weren't being sent to clients.
30:14So I took it upon myself.
30:16You know what, let me do this.
30:18It's obviously not what I was hired to do.
30:20And by the time I get back
30:22from my marketing calls,
30:24it's probably 6, 6.30,
30:26I had to stay back at the office
30:28to start sending statements to clients.
30:30Over 13,000 clients at the time.
30:31And I was doing this manually.
30:33You can imagine not having a system
30:35that you can just press or click
30:37and then everything goes.
30:39I had to send one by one to these clients.
30:43And it was extreme care for me
30:45because you can't make a mistake.
30:47You can't make a mistake
30:49to send the wrong statement to the wrong client.
30:51So there were times I would be at work
30:53to 1 a.m., 2 a.m. sometimes.
30:56I remember a day I was actually locked in the office
30:59because the people who were doing the work
31:01during the patrol at night,
31:03they had locked up,
31:05they didn't know somebody was in the office.
31:07And I was actually using a lamp
31:09because at the time,
31:11they usually turn off the generator at 7, 8.
31:13So if you want to stay back,
31:15you would obviously use a lamp.
31:17So we got lanterns
31:19if you want to stay back at the office
31:21before we eventually got them
31:23to give the floor we were in electricity.
31:25But I would be there to 2 a.m.,
31:271 a.m., 12 a.m.
31:29And one day the CEO was closing from work
31:31and he saw me at my desk.
31:33I was sending statements and he asked,
31:35well, what are you sitting at work?
31:37I said, oh, I'm actually sending statements to clients.
31:39Well, who asked you to do this?
31:41Nobody, I just thought to do it
31:43because it would be a good thing
31:45for our clients to receive statements.
31:47I knew that obviously this was a good thing for me.
31:50And that was one way I was communicating it.
31:54So other things that I would do,
31:56I would go to the unit head
31:58or my line manager and say,
31:59oh, Ma, I was able to do this.
32:01If we were to get an external person to do this,
32:04this is the cost.
32:06So I'm actually saving the company money.
32:08Guess whose name is on top
32:10when it came for promotion?
32:12My name.
32:14So that's how I think a lot of women,
32:16but when I see my experience
32:18with some women in most organizations,
32:20well, from my experience
32:22in my previous place of work,
32:24is sometimes we're very laid back
32:26and lack of discipline.
32:27Who is so, who's got vision,
32:29who's driven, right?
32:31You begin to wonder,
32:33how is she getting all of that?
32:35Well, she's putting in the work.
32:37You need to think ahead
32:39and ensure that you're doing way more
32:41than you were just employed to do
32:43to get value because the world
32:45is tough enough for women as it is.
32:47You have to actually give reasons
32:49why you deserve this thing.
32:51And another thing that I also did
32:53was I knew the work I was putting.
32:55I knew the value I was bringing
32:57Now, that's the last C,
32:59which is value capture.
33:01I was able to capture a lot
33:03by creating the value,
33:05communicating the value.
33:07I also captured value,
33:09which obviously came in as promotions.
33:11There were years I got double promotions.
33:13You know, it came in as salary increase,
33:16raising bonus and other perks that I got.
33:20So that's one way I think a lot of women.
33:22And I was so fierce to demand
33:24what I deserved.
33:25And if anyone knows me,
33:27you will know Noma doesn't play.
33:29I don't joke with things
33:31that I know I am worthy or deserving of.
33:33And I would always remove my,
33:35I'm not slow to,
33:37I'm very fast to actually remove myself
33:39from situations that do not serve me.
33:41If I know I'm bringing in so much value
33:43and I'm not getting out of it,
33:45I would go to you.
33:47So there were times I went
33:49to my superior at the time
33:51and I said, okay,
33:53I do have these offers.
33:55If you want me to remain here,
33:57you either match this or top this.
33:59But it got to a point
34:01I wasn't even asking to match.
34:03I was asking for something better.
34:05Because for me to be here,
34:07there has to be a reason.
34:09And I think that's one of the things
34:11that I want women to actually look into.
34:13But you can't be demanding
34:15when you're not doing anything valuable.
34:17You can't be doing just the normal day to day
34:19and expect that when you go to the CEO
34:21and make demands,
34:23they would approve it.
34:25You can't really get elsewhere.
34:27Do you understand?
34:29And be very confident.
34:31I always say,
34:33even if I don't know what is being discussed,
34:35I would speak on it,
34:37I would ask questions.
34:39Along the way,
34:41you'll be able to get what they are saying.
34:43That's what has worked for me anyways.
34:45People think I'm aggressive,
34:47but trust me,
34:49there's a method to this madness.
34:51You have to be really strategic.
34:55This is not theoretical,
34:57it's not read up,
34:59but it's what you actually went through.
35:01And I'm sure that is a similar experience
35:03some of us here have been through.
35:05Did we get the three Cs?
35:07In case we didn't,
35:09here they are.
35:11Value creation,
35:13value communication,
35:15and value capture.
35:17So please, let's take note of that.
35:19Now let's come to,
35:21thank you very much for that.
35:23So with regards to some developments
35:25inflation was 34.8% in December,
35:28it was rebased
35:30by the National Bureau of Statistics,
35:32and in January it was 24%.
35:35That's one side.
35:37The NPR from the CBN
35:40had been increased to 22.5%,
35:44making it more expensive to borrow.
35:47But because of
35:49the rebasing
35:51of the inflation,
35:53in the last meeting at the CBN,
35:55Nigeria was held frozen.
35:57Would you say this is a good time therefore
36:00to borrow
36:02as a woman micro-entrepreneur,
36:04and to save as well?
36:06What would be your thoughts on that?
36:08So in addition to
36:10just freezing the
36:12monetary policy rates
36:14which the CBN governor communicated,
36:17there are actually
36:19interventions for women.
36:21There are interventions
36:23from
36:25international organizations
36:27in partnership with
36:29local
36:31financial institutions
36:33whereby
36:34they prioritize
36:36credit to women
36:38at
36:39discounted rates.
36:41Sometimes
36:42heading towards half of what
36:45the monetary policy rate
36:47is currently running at.
36:49A few of them even moving towards
36:52the single-digit rate.
36:53So it's about
36:55educating ourselves
36:57and knowing
36:59that these
37:01facilities are out there.
37:03Because there is a deliberate focus
37:06at empowering women
37:08from giving them access to credit,
37:11easy access to credit.
37:13There's preference in all the sectors
37:15that are chosen as the focus sectors
37:18by the federal government,
37:20working in partnership with Bank of Industry, for instance.
37:23You find agriculture there.
37:25And specifically,
37:27women in those sectors.
37:29So there is credit available
37:31irrespective of even what the
37:33monetary policy rate is.
37:35However,
37:36looking at the monetary policy rate
37:38as it is right now,
37:40your reason for
37:42borrowing is for
37:44business expansion growth.
37:46Provided you have the cash flow to
37:48repay that facility
37:50and the returns
37:51are what you see
37:53that would help your
37:55business expansion target.
37:57Please,
37:58do not hesitate,
37:59do not shy away from having that conversation.
38:01It's when you start the conversation
38:03that you actually know
38:05what are those things
38:07that can help reduce the cost for you.
38:09What are those other funds
38:11you can tap into?
38:13There are even some risk guarantee funds,
38:15institutions that actually provide
38:17credit risk guarantee also,
38:19that you would not know
38:21unless that conversation starts.
38:23In terms of investing,
38:25also,
38:26Bukola spoke to it.
38:28What are the available options?
38:30Yes.
38:32When the economy is as tight as it is,
38:34that's when opportunities are bound.
38:36And it's only those who actually
38:38take advantage of these opportunities
38:40who don't shy away,
38:42who don't hide back
38:44and just think and wish things to happen.
38:46So the fact that the
38:48theme of this year's
38:49International Women's Day,
38:51International Women's Month
38:53is Accelerate Action.
38:55It's not just for us to say it.
38:57You have to accelerate that action.
38:59We have to really be decisive
39:01and deliberate about how we
39:03want to grow ourselves as women.
39:05And when we say,
39:07you know,
39:08demand a place at the table,
39:10you must have something
39:12to help demand
39:14and help make that your
39:16demand for a seat.
39:17Come to happen.
39:19But yeah,
39:20that's it.
39:21That's super.
39:22Thank you very much.
39:23Let me just say something to what she just said.
39:26In terms of investing,
39:28there are different things to invest in.
39:31And I think that as a woman,
39:33first of all,
39:34you need to understand what your objective is.
39:36What goal are you,
39:38you know,
39:39chasing?
39:40For me,
39:41and I would like to assume
39:43it's the same for other women,
39:45is financial freedom.
39:46Everyone has a story.
39:48There has to be something that is pushing you.
39:50There are some women you see,
39:52they're so driven when it comes to
39:54financial stability.
39:56Most women aren't so driven
39:58because maybe they have some level of support somewhere.
40:00But I would use myself again as an example.
40:02I've always been very particular
40:05with how I wanted my life,
40:07how I want my life to be.
40:09I know the kind of future that I have.
40:11So obviously I had to make choices
40:13and decisions that were in line
40:14or in alignment with that vision
40:16or that future that I see for myself.
40:18And I think also,
40:20I've also had experiences as a child growing up.
40:22It was extremely tough
40:24going to ask my father for money.
40:26Like you would have to muster courage.
40:28And it did give me a lot of anxiety
40:30because when you go to ask him for,
40:32let's assume you're asking for 1,000,
40:34we do have an inside joke
40:36that he's going to give you an insult of 10,000 Naira.
40:38So you need to weigh your options.
40:40Do you want to go and ask for money
40:42or you just want to just be by yourself?
40:44And that made me swear to myself
40:46that I would never put myself
40:48in a position where any man
40:50would humiliate me
40:52or make me feel terrible
40:54or feel bad about myself
40:56because of my financial standing
40:58or lack of financial standing.
41:00So that obviously helped me.
41:02I remember when I started working,
41:04I got my first bonus.
41:06I immediately invested it in treasury bills.
41:08And at the time treasury bills
41:10was doing effective yield
41:12was about 22% per annum.
41:14It was an 700% increase in the bonus.
41:16I did also buy treasury bills.
41:19I liquidated after some time,
41:21sold it in the secondary market
41:23and then got a real estate asset.
41:25So I think that once you have a goal
41:27and you have a vision,
41:29write it down, write the goals down
41:31and then begin to highlight
41:33step by step
41:35how you're going to achieve that goal
41:37or that purpose, that vision,
41:39that different investments women can invest in.
41:41I am very risk averse.
41:42I would only invest my money
41:44in assets that I know
41:46I can go and sleep peacefully.
41:48So treasury bills, bonds,
41:51euro bonds, USTs.
41:54I may do some CPs
41:57but they are very regulated entities
41:59and companies who obviously
42:02are properly rated.
42:04But as a woman,
42:06do not shy away from these things.
42:08Know these things.
42:10Know financial instruments.
42:12You can read at websites like FMDQ.
42:15You can also go on to,
42:17I think there's also CNBC,
42:19there's Bloomberg,
42:21there's also Investopedia.
42:23Just go online,
42:25read on financial instruments.
42:27I would prefer to invest in assets
42:29that are backed up by the government.
42:31That's treasury bills and bonds.
42:33They are risk free
42:35because one thing the government
42:37will not do is to default
42:39on their obligations to pay back
42:40and risk free.
42:42Instead of putting your money in the bank
42:44and you're earning zero interest,
42:46you can have a mutual funds investment.
42:48And for me,
42:50I see mutual funds as an investment.
42:52Not necessarily to grow wealth
42:54because savings and investment are different.
42:56Investment is what you need
42:58to actually grow your wealth.
43:00So your savings,
43:02you can have your savings
43:04for some sort of emergency in the future
43:06and then have an investment plan
43:08because you also need to increase your money.
43:10So invest in a particular portfolio
43:12and invest in assets
43:14that will help you to grow your wealth.
43:16That's how women can actually break free
43:18from this financial instability
43:21and then have financial freedom.
43:23Nobody's going to do it for us.
43:25We have to be the ones
43:27to take the bull by the horn
43:29and say I want to be financially free.
43:31I want to be financially stable.
43:33How do I do this?
43:35How do I achieve this?
43:37It is so important to have this.
43:40Thank you very much.
43:42And of course, we'll hear from Bukola.
43:44And after we've heard from Bukola,
43:46we'd love to get questions.
43:48Any questions we have, just a few,
43:50and then we'll wrap up.
43:52Alright, so you have
43:54Leadway Asset Management
43:56to help you do all the thinking
43:58and all the research that you need to do.
44:00She did not want to do that.
44:02We have a stand out there.
44:04You can just stop by
44:06and ask some more information.
44:08You have a lot to learn
44:10to make sacrifices.
44:12Sacrifices in the sense that
44:14there are things that
44:16you have to give.
44:18You have to probably scale down
44:20on some of the things
44:22you really love to do
44:24so that you can invest
44:26for your future.
44:28So that you don't find yourself
44:30in a situation where you're humiliated
44:32just to get to, you know,
44:34buy the things that you
44:36actually really need.
44:38You have to manage with
44:40not having all the hairs
44:42that you desire.
44:44Not buying all the,
44:46there's this thing that
44:48kids take to school
44:50when they're having birthday parties.
44:52You know, the souvenirs.
44:54You know, people go above and beyond these days.
44:56You know, they spend millions of naira
44:58on souvenirs that their kids
45:00share in school.
45:02I'm not saying this is bad.
45:04I'm not saying this is wrong
45:06if you can really afford it.
45:08You have to be disciplined.
45:10Take a certain percent of your earnings
45:12and tell yourself that,
45:14okay, I'm doing just 20% or 10%.
45:16I'll do this without,
45:18you know, changing it.
45:20I also want to speak to credits.
45:22In my experience,
45:24I have a few friends who are entrepreneurs.
45:26They have schools,
45:28they have hospitals,
45:30you know, and some other concerns.
45:32Women are very shy
45:34to take advantage of credits.
45:36They would rather go
45:38to their rich uncle
45:40or their rich whoever
45:42to help them finance their business.
45:45What this does for you is,
45:47number one, you don't get the respect
45:49that you deserve.
45:51And if you don't get the respect
45:53that you deserve,
45:55you're somehow limiting yourself.
45:57Take advantage of proper credits.
45:59Have structures in your business.
46:01Let your business run
46:03outside your emotions.
46:05Put proper structure.
46:06Have accounting system in place.
46:08Engage professionals.
46:12Don't start quoting the scriptures
46:14that says,
46:16I will not borrow to nations.
46:18I will borrow from nations.
46:20I will not do this.
46:22I will not do that.
46:24You need to understand
46:26that this is the principle of business
46:28and use these things to your advantage.
46:30Thank you very much.
46:32Thank you very much.
46:34So we've been able to get
46:37the last word to Stanbic,
46:40to Jumoke.
46:42Yeah, thank you.
46:44I think for me in closing,
46:46because Bokola did say,
46:48we need to stop shying away.
46:52Women actually need to be
46:54very deliberate
46:56about their businesses
46:58and what they intend
47:00to do with it,
47:02where they want to take it to.
47:03So let's be decisive.
47:05Let's accelerate action.
47:08Let's act on everything
47:10that we've actually heard here today.
47:15Thank you very much
47:17and thank you to my panelists,
47:19Onome Odometa, Jumoke Bello
47:21and Bokola Oshikumaya.
47:23We really learned a lot
47:25and we are all determined
47:27to accelerate action
47:29so that all women,
47:31all of us here
47:33can contribute to rewards
47:35and returns
47:37in our businesses.
47:39So thank you once again
47:41for being here.
47:43Thank you so much.
47:45Please rise for a group photograph.
47:47We'll welcome
47:49our festival creator
47:51and our chairman
47:53to come up and join.
47:55And of course,
47:57one of our Ibru sisters
47:59to join in this photo session.
48:01Did you enjoy it?
48:03Decisions, decisions, decisions
48:05that lead to what?
48:07Action.
48:09Accelerate action.
48:11Today is the day,
48:13if you haven't before,
48:15today is that day
48:17you would go to the boots
48:19of lead way asset management
48:21and pick up a form.
48:23Pick up something to start
48:25some journey
48:27you haven't done before.
48:29The point has been made so clearly.
48:31We're not waiting
48:33to do and then become.
48:35Please appreciate this panel for speaking to the business
48:41of financing and investment.
48:43Thank you so much.
48:45And then another round of applause
48:47to Guardian Women Festival for putting this together.
48:52Your hands cannot pain you.
48:54Please put them together for Stanbic IBTC
49:00and Leadway Asset Management.
49:03Please clap very resoundingly.