Celebrating Bold Women: Meet the 2024 Veuve Clicquot Bold Woman and Bold Future Award Recipients
The Veuve Clicquot Bold Woman Award Ceremony, a night celebrating bold, innovative, and audacious women who embody leadership across various industries, took place at the Federal Palace Hotel, Victoria Island, Lagos, on Sunday, September 22, 2024.
The She Tank and BellaNaija Unveil “Her Money, Her Power” Campaign to Champion Women’s Economic Power.
The She Tank and BellaNaija have joined forces to launch the Her Money, Her Power campaign, which will advocate for more economic power for Nigerian women.
Overcoming Challenges in African Startup Ecosystems: Lessons from Frontier Markets
Overcoming Challenges in African Startup Ecosystems: Lessons from Frontier Markets By Chisom Winifred When I co-founded C&C Digital House, a digital marketing agency, I quickly discovered that launching a startup in Africa is not for the faint-hearted. Working with other founders exposed us to the myriad challenges facing startups across the continent. Initially, we focused solely on marketing and communications for our clients. However, we soon realised that many of the markets we served lacked the data necessary to guide marketing decisions. This data scarcity is a widespread issue in Africa, where underdeveloped infrastructure makes predicting consumer behaviour and market trends difficult. Because of these unique challenges—and with young entrepreneurs rising to solve them through innovative ideas—we found ourselves navigating uncharted territory with no previous records to rely on. This led to our first lesson: Every problem that’s hard to solve is a business opportunity. We turned the lack of data into a service offering, conducting research for clients to gather insights that guide marketing decisions and support business growth. Consider that in 2020, only 40% of adults in Sub-Saharan Africa used the internet, compared to 75% in developed countries. This gap significantly affects digital marketing strategies and underscores the need for tailored, data-driven approaches that consider local contexts and infrastructure. Throughout my career, I’ve worked with several African startups, each with unique challenges. One experience that stands out involved launching a campaign in an underserved region of Nigeria. We quickly realised that a one-size-fits-all approach wouldn’t work due to cultural differences, language barriers, and varying levels of internet access. During a campaign in southeast Nigeria, we shifted to SMS marketing and word-of-mouth promotion in schools and marketplaces, which proved more effective than traditional digital channels. By adopting a localised strategy, we engaged with our audience in a meaningful way. We’ve since applied this approach in countries like Ghana, where regional differences also require customised efforts. Building trust was another challenge, especially with customers sceptical of digital payments. To overcome this, we prioritised transparency in our communications and provided easy access channels for customer feedback. By highlighting testimonials and engaging with communities through local events, we built a loyal customer base willing to transact online. Trust is a significant barrier for many African startups. A 2021 survey found that 75% of consumers in Nigeria preferred cash over digital payments, citing concerns about fraud and trust. To address this, startups must emphasise clear, honest communication and demonstrate reliability. Key Lessons for Startups in Africa’s Frontier Markets: Adapt to Local Infrastructure Constraints: In regions where internet access is unreliable, startups must be creative. SMS marketing, radio ads, and word-of-mouth campaigns in community hubs can reach audiences that are otherwise inaccessible. Understanding each market’s specific infrastructure can prevent costly mistakes and improve strategy effectiveness. Build Trust Through Transparency: African consumers value transparency. Startups should clearly communicate their value proposition and be upfront about potential risks. Building trust takes time but is crucial for long-term success. For example, mobile money services like Opay have succeeded in Nigeria by emphasising security and ease of use, gaining trust in a population initially hesitant about digital finance. Prioritise Customer Education: Many African consumers are unfamiliar with digital solutions. Startups must invest in educating their audience through content marketing, free trials, and consistent messaging to overcome scepticism and encourage adoption. This is particularly important in countries like Nigeria and Ghana, where digital literacy is still developing. Leverage Innovative Partnerships: Collaborating with local influencers, microfinance institutions, or non-profits can amplify a startup’s reach and credibility. These partnerships enhance brand visibility and build trust within the community. Partnering with local community leaders in Ghana, for example, helped us gain credibility and access to hard-to-reach communities. Female entrepreneurs have a unique opportunity to lead the way in overcoming the challenges faced by African startups. Female-led ventures have been at the forefront of innovation, creating solutions tailored to local needs and driving economic growth. Sub-Saharan Africa has the highest rate of female entrepreneurship globally, with 26% of adult women involved in entrepreneurial activities as of 2021. Women’s networks play a crucial role in supporting startups by sharing resources, knowledge, and experiences. Research shows that women reinvest up to 90% of their income back into their families and communities, compared to 30-40% by men, highlighting the importance of supporting female-led startups. The path to success in Africa’s startup ecosystem isn’t easy, but the potential for impact is huge. By embracing challenges with creativity and resilience, and supporting one another, we can overcome obstacles and thrive. The future of Africa’s startup ecosystem is bright, and those who persevere will be at the forefront of this exciting transformation. Let’s continue to push boundaries, support each other, and build the future we want to see.
Raising the Bar
Funmilola Fasipe, founder of Executive Global Nanny, is on a mission to revolutionize childcare.
From Farm to Table
Kofoworola Deborah Awoyera, founder of Dharkagfoods, is redefining the Nigerian culinary landscape.
Cultivating Tomorrow’s Innovators
Desire Joshua, founder of Kiddie Techville, is a visionary tech educator dedicated to bridging the digital divide in rural areas where access to quality education is limited.
How to treat yourself on a budget
“If you’re a fan of recent hits like ‘Stranger Things,’ you’ve likely seen characters taking breaks from facing monsters to enjoy some downtime. It’s akin to their version of a ‘treat yo’ self’ day, where they indulge in fun activities just for themselves! Following their lead, we all deserve a break sometimes. Here’s how you can plan your own ‘treat yo’ self’ day without breaking the bank.” 1. You still have to save for it If you could escape saving, I bet you would. But saving is the surest way to avoid over-spending and feeling horrible about those $300 shoes for the whole year. Putting a little aside won’t hurt your bank whilst still setting a tangible goal for something you have been meaning to get yourself. 2. Have fun at home Sometimes going out with friends might leave you feeling all kinds of regret in the morning. Consider alternating your going out to staying home having a games night, cooking dinner and having that be a group activity. You get to enjoy an awesome night in and away from the pesky ATMs and swipe machines. 3. Did someone say flea market? Flea markets and thrift stores are awesome places to find cool looking clothes and items without breaking the budget. You get the benefit of unique, usually quality clothing at way, way less and you can get a whole lot more than you would at a conventional store. Not only that you get a chance to support small entrepreneurs in your locality as well. 4. Try and look for a deal I mean, who does not love a good deal? Most places if you are looking are always offering to get alternative ways to give you value for your money. It could be half priced movies, two for the price of one deals or even service providers who give you packaged deals at cheaper rates for your business. Always try to ask and find out if there are deals around to help you save that extra money. There are also sites that give you comparisons so you can make a more informed choice. 5. Go at it in a group You haven’t been in vacation in awhile, or you want to attend an upcoming conference, well many operators give packaged deals for groups which will most likely cheapen your costs. There is power in bulk buying and so if you can’t do it alone, try find some awesome people to do it with. This way everyone gets the benefit of saving their money for something worthwhile. Now go ahead and TREAT. YO. SELF
6 Tips on How to Attract Investor Interest via Email
Entrepreneurs should always be on the lookout for investors. With Google at your fingertips, finding the contact details of a prospective investor has never been easier. That said, simply reaching out to them is not enough as there are several others like you, seeking their attention. Follow the tips below, and you’ll soon be on your to snagging and keeping an investor. The prep 1. Hun, are you even ready? Before reaching out to investors, ascertain if you require external funding as meeting investors too early may undervalue your company. Also, you would need a business plan to demonstrate the viability and profitability of your business idea. Remember, investors are no fairy godmothers. They’re putting their money in to get money out. 2. Make a list of who you want to meet Finding an investor goes beyond them cutting you a cheque. You need to research potential investors, how much money they typically invest in new businesses, the kind of ventures they’ve supported in the past, and the sort of industry knowledge they can provide you. For instance, if you’re starting an e-commerce company, it’s a good idea to reach out to e-commerce gurus. 3. Engage with them on social media. This ties into the previous step. Follow the top dogs on Twitter, read and comment on their blogs, watch their speeches for advice. If you know what makes them tick, would inform you on how to approach them. Here’s a tip within in tip: In your email to them, reference a remark they made that gave you an aha moment. They’ll appreciate it, and you’d have gotten edge over your competitors. #Motherland Mogul Tip: Refrain from sending invitations on Facebook or LinkedIn, because people tend to swerve on the randoms. 4. If you have connections, use them! As competition is stiff, use every tools at your disposal. If someone in your circle, knows someone who knows an investor, tell them to ask their friend for an email introduction on our behalf. Email introductions increase your chances of getting a response. But first, be sure to send your pitch to your friend to ensure your message doesn’t get lost in translation. The Email 1. Identify yourself Start by telling them who you are, what you do, and how you found out about them. If you were connected through a mutual acquaintance, mention it. And remember: use the tip within the tip mentioned above to separate you from the pack. 2. Get straight to the point. Mention the name of your business, it’s aims and objectives. Then summarize your business plan and the stage of your startup. At this point, an investor will decide if your idea is worth pursuing or not, so be sure to be as clear and interesting as possible. 3. Provide additional info Include a link to your business website or attach a pitch deck or essay that elaborates the service or product your business provides. Also, state how your company is solving a teething problem and what sets it apart from its competitors. 4. Why them? Investors want to know why they’re a good match for you and your business. Consider what your business requires to reach the next growth phase, and use it to sell your point. Also, peruse the prep steps above for help. And of course, we’re not done… 5. Get the ball rolling Round up your email by mentioning you’d love to discuss in person, and provide three suitable dates. Also if you have product samples, offer to show them at the meeting. 6. Pique their curiosity a little Finally,if you’ve already met or are meeting a influential person, mention it! This would give you more credibility and make them pay attention to you. But be slick about it because name-dropping is oh tacky. Have you used any of these tips to reach out to investors? Did they help? Have you used others that have been helpful?
7 tips to build a successful social media strategy for your brand
[bctt tweet=”Creating a social media strategy just got easier with these tips from @Wildfusion” username=”SheLeadsAfrica”] We’ve put seven tips to help you put together a winning social media plan of action for your business. Just the way an architect always has a well-drawn out plan for a house before it is built, putting together a “strategy” before getting on social media should be top on the list for any brand/business. Start with a good strategy Every brand or individual who decides to use the social media platform as a tool for either personal branding or brand management must have a “good strategy” on how they intend to play in that space. The first step is to think through what you intend to achieve and how you intend to go about it. Clear and engaging content Having clear and engaging content will provide brand awareness & daily consumer interaction with your brand. Find content that resonates with your target group. For instance; if your target group is young people, research and discover what most young people are doing online. Then craft your strategy to provide content they would be interested in whether it is music, football, videos, games, etc. Two-way communication Social media is a two-way communication. If your audience/consumers take out time to visit your social media page and interact with your content either by commenting, liking or sharing, please respond to them. No matter how flimsy or irrelevant their suggestions may be, the least you can say is “Thank you for your comment”. You would be amazed how much trust you would gain from your audience. Ask for feedback Always ask your audience/consumers for feedback on your products. This would help the brand position itself in the right direction. Social media gives you the opportunity to reach as many people as possible, through one medium, all at the same time! Find your tone of voice If your brand has a “serious tone of voice” offline and you decide to get on social media, find a “social media tone of voice” to increase your online presence & engagement. Use high-quality images On social media, sometimes images speak louder than words! Use images that are sharp, clear and attractive to the user. Your brand logo must always accompany your images as well. Images would serve as an advertising vehicle for your brand. Always be sincere No matter what you do, be sincere. Sincerity equals believable and credibility for your brand.she
From the Streets of Ojuelegba to a Celebrated Storyteller
Reading this book is a delight and reassures you on your journey and whatever it may look like now.