Economic development

HOW TO ACCESS FINANCE FOR YOUR AGRIBUSINESS DURING RECESSION

 

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In line with the current economic situation, Agrihub together with other partners has decided to host a virtual workshop to engage youths in Agriculture on how to Access Finance for your Agribusiness.

As part of its capacity building activities, Agrihub Nigeria invites you to participate in the themed workshop – Financing Agriculture for Economic Development.

This Workshop will be in Partnership with Agropreneur Nigeria and it will be a series of 4 events held over the coming week. The initial 3 events will be online while the 4th a physical meeting.

For now, the event will mostly require you to view pre-recorded videos with some of the speakers and engage with them via tweets for questions and comments. Speakers will discuss on different topics on Financing Agriculture for Economic Development.

This will require your engagements via your twitter handle, please use the hashtag #Agrifunding and tag @agrihubng in all questions, and comments on twitter.

Objective of the Workshop

The objective of the workshop is to ensure that participants have the understanding of the various forms of financing that are available to them in the agricultural sector while at the same time change the mindset that only commercial banks or government can finance agribusinesses.

Schedule of Events

  • On Saturday, November 19th, 2016, Begin of Online Workshop on funding Agriculture for Economic Development with the Upload and streaming of series of pre-recorded interviews around the theme from 9am via the AgriHub Youtube Page.

 

  • On Tuesday, November 22nd, We will have a tweet chat with Dr. Mayowa Oguntoyinbo CEO Freshly Yours Ltd, on Record Keeping for Agribusinesses from 5 – 7 pm. Please use the hashtag #agrifunding and tag @agrihubng in all questions, and comments on twitter.basicbookkeepingagrihubnov22seminar-tweetchat
  • On Thursday, November 24th, We will have a tweet chat on Insurance in Agriculture based on information received during an interview with a representative of the Nigerian Agriculture Insurance Co-operation, NAIC from 5 – 7 pm. Please use the hashtag #agrifunding and tag @agrihubng in all questions, and comments on twitter.

  • There will be a number of viewing centers across Lagos to discuss the said topics and spark the conversations around financing agriculture. YPARD and Agroprenuer Naija, will moderate Physical Group Discussions at 2 locations, 9 Adepegba Street, Ilupeju and The Jetty, Wole Olateju, Crescent off Admiralty way Lekki Phase 1 , Lekki, Lagos from 12 – 2 pm on Saturday, November 26th, 2016 where opportunities and next steps forward will be discussed.

NB: Speakers would be available on Twitter at various times of the day to answer possible questions from viewers. Questions and comments can be asked on twitter on Sunday 20th November by 5 – 7 pm

See Agrihub’s Youtube Page for All Speaker Videos http://bit.ly/2g5JSNw

PS: Twitter comments are be welcomed and will be discussed during these conversations.

Please register here to gain access to the videos and ATTEND the physical event at http://agrihub.org/REGISTRATION/

Speaker Videos

Speaker 1 Welcome and Introduction by Agrihub

Introduction to Workshop by Ronke Aderinoye, Founder and CEO Agrihub Nigeria discussing on why talk about Finance in Agriculture now. A description of Agrihub Nigeria and an overview of the agenda. http://bit.ly/2gtCI7o

Speaker 2 Finance in Agriculture; Types of Finance available.

Financing Options for Agribusiness by Ada Osakwe, CEO Agrolay Ventures, Nuli Juice and Foods. Discusses what Finance options are available to Agric businesses http://bit.ly/2g5DBRY

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Speaker 3: Funding Opportunities Available and the Challenges (Panel Discussion) –What records are necessary, what amount can be accessed?

Micro Finance Bank: Micro Finance in Agriculture by Gbemi Awoniyi-Folayan http://bit.ly/2fF9bWb

Speaker 5 Agrihub’s “Financing Agriculture for Economic Development”

Real Life Experiences of an Agropreneur in Nigeria, by Seun Abolaji, Founder, Wilson’s Juice Co. http://bit.ly/2fF8tZ3

Concluding Remark, Agrihub’s “Financing Agriculture for Economic Development”

Conclusion by Ronke Aderinoye http://bit.ly/2fF9IaC

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A TEEP ALUMNI TALKS ABOUT HIS CASSAVA BUSINESS, ADVICES UPCOMING YOUNG AGROPRENEURS

Photo Credit: Kolawole Omotola 

This month we interview Kolawole Omotola a young entrepreneur from Ekiti state. He is also a Tony Elumelu Foundation Entrepreneurship Programme (TEEP) Alumni, today he has a cassava processing facility where he packages “garri” for consumers within and outside his community. Omotola is one youth who have succeeded with support through business skills training, mentoring, access to seed capital funding and together with passion for entrepreneurship.

We introduce him as our Young Agropreneur of the Month, here he tells us his story, how he started and established his company “Oyinkola Enterprises” and how he overcame market acceptance of his product which was his major challenge. He discusses constraints to cassava business among others. Omotola ends with his future plans, recommendations for government and advice to upcoming youth intending to go into Agribusiness.

Introduction

I am Kolawole Omotola, a native of Ekiti state, a graduate of Computer Science from Olabisi Onabanjo University, Ago Iwoye, Ogun State and the CEO of Oyinkola Enterprises.

I am a member of a big family with many siblings. I had no choice but to strive and cater for myself. This thought me to stay focused and be determined to never give up and be a great achiever. Growing up was indeed by God’s grace. I have great passion for agricultural activities and I have a goal to produce food for my community.

Starting up

I am into cassava crop processing, I am a garri maker! The major challenge that was faced while starting up was market acceptance. But with God it came as a success, our product was evenly embraced by all in the community.

 

Photo credit: Kolawole Omotola

Benefits

  • Agribusiness is my lifestyle; I personally made the choice of the business of agriculture. I am happy doing it because I am achieving my dreams. It gives me joy when customers give happy comments on the product, like your garri was wonderful; we so much enjoy taking it.
  • Oyinkola Enterprises have employees that help in the cassava crop processing. We have 4 permanent staffs and about 8 casual staffs with different roles. We have been able to create little jobs for the society as the women who come to peel our crops go home with little cash at the end of the day to help with their various family; we also train our workers to gain some skills, this we believe has its multiplier effect on our productivity as an enterprise.

Constraints

  • The hardest part of the business is the peeling of crops before grating and what makes this difficult is lack of peeling machine. We believe, as soon as the enterprise is able to get this machine, our work will be easier and faster.
  • Another issue we are experiencing is on some of our causal staffs who have little or no formal education; we are faced with the problem of starting with them from the crash.
  • Government’s inconsistent policy is also a major constraint that needs a positive change and adjustment. This will encourage more youths to be involved in the business of agriculture.

Future Plans

  • Even though we still purchase cassava crops from farmers to process, we are planning on cultivating our own cassava and increasing the quantity of our processed product.
  • We intend to venture into the business of industrial starch and cassava flour soonest.
  • We are planning to have a branch in Ekiti state before the end of the year and hope to have branches of Oyinkola Enterprises in different states of Nigeria as time goes on.

Recommendation to the Government

  • Kindly empower more extension workers to assist farmers on their farm to get it right on modern farming techniques and methods.
  • Help Small and Medium Enterprises (SMEs) by easing the process of getting the NAFDAC number for their products.
  • Ensure adequate access to agricultural machinery, like the tractor, plough etc.

Advice for Upcoming Entrepreneurs and Youths 

  • My advice is that you should be ready to face your life and prepare to start small because where you start from will not be where you will be in few months after starting. Start now and face the challenges ahead as life itself is a challenge. So this is a challenge worth facing to better your life, family and community. You will be proud you did!

Many youths always complain of fund as the major problem of not starting their dream business. But I will say it is not the first thing to consider if one wants to start. Firstly, seek for more knowledge on that particular business and before you are done with that, there will be provision of finance.

Oyinkola Enterprises on Facebook, Website