Dear entrepreneurs, Today, I will share a story with you -Kunle’s story. In bustling Tejuosho Market in Lagos, where the sound of commerce fills the air, Kunle, a diligent businessman, shows up to his store every day, prepared and hopeful. His shelves are stocked, his books are balanced, and he’s built strong relationships with his customers. But no matter how much effort he puts in, something just isn't adding up. Week after week, Kunle watches his numbers, hoping to see a change, but the margins stay slim. The more he pushes, the more he feels like he’s running uphill, and he's beginning to wonder if the economy itself is working against him. Everytime he tries to stock up on new products; he always finds out that he has to settle for lower quantities than his previous order; his available cash seems not to just be sufficient for his order values. Prices are soaring, inflation is climbing, and even his loyal customers are struggling to keep up. The energy costs keep biting into his profits, the currency's value keeps shifting, and every plan he makes seems not to work. Kunle shakes his head in disbelief as he goes over the numbers for the umpteenth time. He can’t help but think, "The math is just not mathing." Are you like Kunle;puzzled and disillusioned? You are not alone. We can not but agree that the economic situations aren’t pleasant. Keep showing up. Even when the math doesn’t seem to add up, remember that persistence through tough times builds strength for better days ahead. Stay resilient—your breakthrough might be closer than it seems. Here’s what I have for you today:
Trending NewsFederal Government Begins Disbursement of BOI/FGN N75 Billion Loan Single -Digit Loan
The Federal Government has initiated the release of N75 billion in single-digit interest loans aimed at supporting Micro, Small, and Medium Enterprises (MSMEs) across Nigeria. These loans, provided through the Bank of Industry (BOI), come as part of a broader initiative to aid small businesses in the wake of recent subsidy cuts. READ MORE 3MTT Program Cohort 3 Set to Launch, Welcoming 90,000 New Fellows The 3MTT management has announced that Cohort 3 of the 3MTT Program will launch on November 26, 2024, marking a key milestone in its mission to build Nigeria’s digital infrastructure. With over 1.5 million individuals on the waitlist, the program will admit 90,000 fellows, each embarking on a transformative journey toward technological empowerment and innovation. READ MORE Nigeria Government Releases Two New Chicken Breeds and 14 High- Breed Crop Varieties to Boost Agriculture
In a major effort to strengthen Nigeria’s agricultural sector and enhance food security, the Federal Government has released two new chicken breeds and 14 high-yield crop varieties. This initiative aims to improve agricultural productivity and nutritional standards nationwide. READ MORE Electricity Distribution Companies in Nigeria Raise Meter Prices Again
Electricity Distribution Companies (DisCos) in Nigeria have announced revised prices for various electricity meter models, marking the second price hike in four months.According to the DisCos, the cost of a single-phase meter has risen from approximately N117,000 to as much as N149,800, depending on the distribution company and meter vendor . READ MORE Visa Fuels Africa’s Fintech Growth with Investments in Four African Start-Ups Across Africa Visa, a global leader in digital payments, has announced investments in four promising African start-ups from its first Visa Africa Fintech Accelerator program, underscoring its commitment to fostering fintech innovation and expanding financial access across the continent. READ MORE Plan International Nigeria Invests N80 Million to Empower Youth Across Nigeria
Plan International Nigeria has donated over N80 million to eight youth-led organizations, advancing its decade-long mission to support youth and drive social change nationwide. The announcement was made by Country Director Charles Usie in Abuja, where he unveiled a new five-year strategic plan (2024-2028) to empower young Nigerians, particularly girls. READ MORE HERE Opportunity GaloreCall for Applications: Microsoft Nonprofit Tech Acceleration Program
Unlock Your Through the Nonprofit Tech Acceleration program, nonprofit organisations will be matched with technical software, services, consulting resources, software grants and discounts that will help increase the impact of their missions. APPLY TODAY Call for Applications: Orange Corners Nigeria Incubation Programme Cohort 12
Orange Corners Nigeria Incubation Programme. A programme designed to support young Nigerian entrepreneurs by providing them with the skills, knowledge, and resources necessary to thrive in today’s competitive business landscape. Benefits include Funding Opportunities, Mentorship, Capacity Building and others. Submit your application TODAY! Call For Application: Swedish Institute Pioneering Women in STEM Scholarship 2025 For Africans (Fully Funded)
The Swedish Institute Women in STEM Scholarship welcomes women from countries in Africa and Asia to lead change, tackle global challenges, and develop lasting solutions. The SI Scholarship Pioneering Women in STEM covers full tuition coverage, a monthly stipend of 12,000, and a travel grant of 15,000 for selected candidates. APPLY NOW Call for Applications: AGRA Value4Her Nigeria Project
Are you a woman in agriculture looking to scale your business, improve your financial management, access financial support and unlock access to new markets? The AGRA Value4Her Nigeria project, in partnership with the African Management Institute (AMI), is here to support your growth through Financial Access, Business Support, Networking Opportunities Call For Application: Climate Adaptation and Resilience (CLARE) programme: Research for Impact (R4I) opportunities fund
Climate Adaptation and Resilience (CLARE) programme has launched a Research 4 Impact opportunities fund that responds to short-term, small-scale requests (around £35,000) from decision makers by using existing evidence to meet local adaptation priorities. APPLY TODAY Call For Application: Dell Envision the Future Competition ( $12,000 in Prizes)
The Dell Technologies Graduation Project is intended to spark the creativity of students for their graduation projects to play an active role in the Transformation of IT and get the opportunity to shine and win prizes. For the top three winners of the Dell Envision the Future Competition, a sum of $12,000 will be shared, including certifications, and mentorship opportunities by top professionals from Dell. APPLY NOW! You can access many more opportunities HERE The Entrepreneur’s QuizLast Week's Question Which financial statement shows a company's revenues, expenses, and net income over a specific period? A. Balance Sheet B. Income Statement C. Cash Flow Statement D. Profit and Loss Statement The answer is : B. Income Statement This Income statement provides insight into a company's financial performance by detailing its income and expenses, leading to the net income (or net loss) for that period. It’s an essential tool for evaluating profitability and operational efficiency. Today’s Question Which type of funding involves raising capital by offering ownership shares in the business to investors? A) Debt Financing Fun Facts about EntrepreneurshipDid you know that The word "entrepreneur" was originally a term in the 13th century that meant "someone who undertakes," coming from the Old French word entreprendre, which means "to do something" or "to undertake." Back then, it didn't have the business connotation it has today. It wasn’t until the 18th century that "entrepreneur" began to be associated with starting a business For more news, opportunities, resources, and other items, kindly visit: www.msmeafricaonline.com Follow us on social media: YouTube , Instagram, Twitter (X), Facebook, LinkedIn Join other Entrepreneurs across Africa in the MSME Africa Community HERE Till next time Ododoola, MSME Africa MSME Africa Pulse is free today. But if you enjoyed this post, you can tell MSME Africa Pulse that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments.
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Saturday, 9 November 2024
The Math is not ‘mathing’!
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LCCI urges stronger Nigeria–India ties to boost key sectors and economic growth
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