5,000 Business Owners in Nigeria, Others Graduate from Google Hustle Academy – Business Post Nigeria


By Modupe Gbadeyanka
Not less than 5,000 business owners drawn from Nigeria, Kenya, and South Africa have completed a training programme from Google Hustle Academy.
The Hustle Academy, launched in February, provides practical business training which helps entrepreneurs learn the soft skills that complement their hard talents through peer-to-peer and mentor-driven learning.
At the graduation ceremonies in the three countries, Google announced a new speaker series in which successful African entrepreneurs share lessons and advice, furthering its commitment to helping entrepreneurs and small businesses thrive.
The new talk-show-style video series featuring renowned and respected entrepreneurs from across Africa, sharing practical advice and growth tips to inspire emerging entrepreneurs, is meant to complement and expand the Hustle Academy training.
This speaker series will allow SMBs to get insight from business owners from an array of sectors, focusing on the issues, themes and subjects they face on a regular basis.
“Our graduates are working hard to grow their businesses, and in addition to having an impact in these 5000 SMBs, this kind of practical training also has a ripple effect, helping many more people succeed,” the Head of Brand and Reputation for SSA at Google, Ms Mojolaoluwa Aderemi-Makinde, stated.
“Small and medium-sized businesses (SMEs) are the backbone of the global economy, and in Africa, they account for an estimated 80 per cent of jobs.
“In Sub-Saharan Africa (SSA) alone, there are an estimated 44 million micro, small and medium enterprises, which function as important drivers of economic growth,” she added.
Business Post gathered that this year’s graduates were chosen from nearly 10,000 applications and from 23 cohorts who attended five-day virtual bootcamps where they learned how to define their business strategy, increase sales, and how to pitch for investor funding. The curriculum also included lessons on digital marketing and effective financial planning.
Each business also received one on one mentoring sessions to address specific pain points in their businesses and to get advice from a network of trained mentors and coaches.
The initiative is part of Google’s support for businesses in Africa to allow them to take advantage of all the opportunities that the web offers and equip them with the tools to develop and grow.
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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN’s Richard Quest and Christiane Amanpour.
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By Aduragbemi Omiyale
As part of a sustained effort to reduce unclaimed dividends in the capital market, the Securities and Exchange Commission (SEC) has concluded plans to rebuild the e-Dividend Management Mandate System (e-DMMS) platform.
According to the Director-General of SEC, Mr Lamido Yuguda, some measures have been adopted by the agency to increase the number of mandated investors in the e-DMMS scheme.
Mr Yuguda said this involves having a centralised submission of e-dividend mandate forms, an Application Programming Interface (API) for banks and registrars, and a revamped web interface, among others.
He stated that SEC had invested a lot of resources as well as embarked on a number of programmes on investor education to ensure that people mandate their accounts to enable them to receive the benefits of their investment in the capital market.
“The reason why the number may not be reducing as expected is that many investors have not mandated their accounts. Dividends are now distributed electronically, so dividends go directly into the investor’s account, and if everybody mandates their accounts, there would be few unclaimed dividends in the system.
“This process is still open and can be done with the registrars, forms can be obtained from the banks, too, and it’s a very simple process. We also have on our website a tool that assists investors in determining any unclaimed dividends that they have. And I would encourage everyone to take advantage of these tools or to speak to the complaints section of the SEC directly, and we would guide that person appropriately,” he stated.
The SEC DG expressed appreciation to the House of Representatives Committee on Capital Markets and Institutions on Unclaimed Dividends over its efforts to investigate the rising value of unclaimed dividends and unremitted withholding tax on dividends.
He assured of the commission’s readiness to provide all the necessary support to the committee to enable it to carry out its assignment.
Mr Yuguda also emphasised the need for the stakeholders in the financial sector to collectively work towards enacting the Investments and Securities Bill 2022, which will enhance the performance of the Nigerian capital market and align it with global best practices.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited appreciated by 0.50 per cent on the back of fresh buying interest from investors, who are enticed to re-enter the market ahead of the Christmas sales.
This raised the All-Share Index (ASI) by 244.98 points at the close of business to 49,233.02 points from 48,988.04 points and expanded the market capitalisation by N132 billion to N26.815 trillion from N26.683 trillion.
Business Post reports that traders looked into the different sectors of the market to cherry-pick stocks that could fetch them sweet returns in the coming days. This resulted in 20 equities finishing on the gainers’ table, with eight shares closing on the losers’ chart.
An analysis of this showed that the market breadth was positive and the investor sentiment very strong.
CAP was the best-performing equity as it gained 9.88 per cent to sell for N17.80, Ardova improved by 9.51 per cent to N16.70, Cornerstone Insurance appreciated by 8.33 per cent to 52 Kobo, Thomas Wyatt grew by 8.33 per cent to 52 Kobo, and Learn Africa increased by 8.12 per cent to N2.13.
The worst-performing stock yesterday was McNichols, losing 10.00 per cent to trade at 54 Kobo, Geregu shed 8.11 per cent to N102.00, Chams fell by 4.35 per cent to 22 Kobo, GTCO lost 1.91 per cent to settle at N20.50, and United Capital declined by 1.46 per cent to N13.50.
On Thursday, investors transacted 222.8 million equities worth N2.1 billion in 2,756 deals, in contrast to the preceding day’s 88.0 million equities worth N1.7 billion in 2,832 deals, representing a decline in the number of deals by 2.68 per cent, an increase in the trading volume and value by 153.2 per cent and 23.53 per cent, respectively.
Sterling Bank was the most traded stock at the exchange yesterday as it sold 153.3 million units, GTCO sold 10.5 million units, Zenith Bank transacted 8.7 million units, FBN Holdings exchanged 5.0 million units, and UBA traded 4.5 million units.
A look at the performance of the sectors showed that the insurance space rose by 1.07 per cent, the energy arm expanded by 0.62 per cent, the banking counter grew by 0.58 per cent, the industrial goods sector went up by 0.13 per cent, and the consumer goods space increased by 0.15 per cent.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange returned to the bearish zone on Thursday, December 15, as it depreciated 0.31 per cent, driven by the negative price movements in three companies.
Niger Delta Exploration and Production (NDEP) Plc led the price losers’ chart during the session after it fell by N5.42 to N175.00 per unit from N180.42 per unit. Friesland Campina Wamco Nigeria Plc continued its downward trend as it recorded a 75 Kobo price slide to close at N65.25 per share compared with the previous day’s N66.00 per share, while UBN Property Plc lost 8 Kobo to settle at 81 Kobo per unit versus Wednesday’s closing price of 89 Kobo per unit.
The trio shortened the market capitalisation of the NASD OTC by N2.90 billion to N929.47 billion from N932.37 billion and cut the NASD Unlisted Securities Index (NSI) by 2.2 points to 707.36 points from 709.56 points.
During the session, there was a surge in the volume of securities traded at the bourse by 3,576.8 per cent as investors transacted 5.1 million units of stocks compared to the preceding day’s 137,403 units of stocks.
Likewise, the value of shares traded at the session expanded to N8.2 million, which by evaluation is 48.8 per cent higher than the N5.5 million posted on Wednesday.
This came from nine deals executed at the session, indicating a 28.6 per cent appreciation compared to the preceding session, where seven deals were executed.
AG Mortgage Bank Plc remained the most traded stock by volume on a year-to-date basis, with the sale of 2.3 billion units worth N1.2 billion. Central Securities Clearing Systems (CSCS) Plc stood in second place with 688.1 million units valued at N14.3 billion, while Lighthouse Financial Services Plc was in third place with 224.7 million units valued at N112.3 million.
In the same vein, CSCS Plc ended the trading day as the most traded stock by value (year-to-date) with the sale of 688.1 million units exchanged at N14.3 billion, VFD Group Plc was in second place with 29.1 million units of stocks valued at N7.7 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place with 18.0 million units worth N2.0 billion.
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