Dear Entrepreneur, It’s time we talk about your business expenses because it’s beginning to look like jollof rice with too much assorted meat. 😅 Yes, I know you’re doing your best to grow, but sometimes that growth includes expenses you didn’t budget for and can’t explain. You’re still paying for that subscription you tried once during lockdown. Your office still has DSTV premium but you’re running a logistics company. Oga, it’s time to trim the fat! Let’s be honest: cost-cutting doesn’t mean hardship, it means intentional spending. Start by auditing your business expenses. Print the statement, sit down with cold zobo and face the music. You might be shocked to see you're still paying for that fancy app you swore would “revolutionize customer experience” but that nobody has logged into since February 2022. Cut it! If it’s not adding value, it’s chopping money. Then there’s staffing. No, I am not saying sack everybody. This isn’t a Nollywood boardroom. 😭 But check if you’re overstaffed in some areas or underutilizing talent. Maybe instead of hiring a full-time social media exec, that your cousin that posts memes for fun could handle your IG page for a stipend. (With supervision, of course. I don’t want your business trending for the wrong reasons.) And please, negotiate everything. From rent to supplies to bulk buying puff-puff for your Friday “TGIF bonding”. Nothing is sacred. This economy is not smiling, and neither should your landlord. Form alliances with other small businesses to share services or vendors. That’s called collaborative capitalism and it works like ogbono soup when you stir it right. In conclusion, trimming the fat is not about depriving your business. It’s about making sure that every kobo you spend is worth it. Lean business = strong business. And when you run lean, you can hustle smarter, grow faster, and maybe, just maybe finally upgrade from pure water to table water at meetings. 😎 Here’s what I have for you today:
Trending Business NewsFlutterwave Launches Virtual Accelerate Workshop to Train Young Africans in Tech
Flutterwave, one of Africa’s leading payments technology firms, has launched the Flutterwave Accelerate Workshop, a two-day virtual coaching program aimed at equipping young Africans with essential skills for success in the technology industry. Read more OPay Defies Global Fintech Slowdown, Grows to $2.75 Billion Valuation
Africa-focused fintech OPay has increased its valuation to $2.75 billion, according to new filings from its minority investor, Opera Limited. This modest growth, up from a $2 billion valuation in 2021, comes even as the broader fintech industry grapples with reduced venture capital and significant valuation drops. Get more details HERE Nigeria Targets 2.5 Million Jobs with New Labour Empowerment Programme
Nigeria’s Vice President has launched the Labour Employment and Empowerment Programme (LEEP), a major initiative aimed at creating 2.5 million jobs across multiple sectors. LEEP targets all sectors of the economy, including the expanding digital and freelance industries, and aims to use technology to match skilled workers with employment opportunities. More details Here Moniepoint Enters Diaspora Banking with MonieWorld, Targeting UK–Nigeria Remittance Market
Nigerian fintech giant Moniepoint has launched MonieWorld, a new platform aimed at the UK–Nigeria remittance corridor. This move signals Moniepoint’s entry into the diaspora banking sector and its broader ambition to serve Africans globally while reducing dependence on Nigeria’s volatile economic and regulatory landscape. Read more Senegal Urges ECOWAS to Bolster Investment Promotion and Regional Integration
Senegal has urged member states of the Economic Community of West African States (ECOWAS) to intensify efforts to attract foreign investments across the region. The call was made by a representative of Senegal’s Directorate of Foreign Trade, Investment and Development during the ECOWAS Common Investment Market (ECIM) Technical Committee Council meeting held in Abuja. Get more details HERE Opportunity GaloreCall For Applications: Climate Launchpad Green Business Ideas Competition 2025 For African Entrepreneurs
ClimateLaunchpad is the world’s largest competition for green business ideas. Do you have a green business idea and have what it takes to become an entrepreneur?. Your idea can be an innovation in renewable energy, a sustainable transition in the food chain, a mind shift in urban mobility, or any other way to tackle climate change .Get more details and Apply today Call For Applications: Digital ChangeMakers Incubation Program 2025 for Women Entrepreneurs
This project aims to equip women-led micro-enterprises with tailored digital solutions, enabling them to adopt innovative products that meet their needs and fosters growth and innovation. Get more details here. Call For Applications: D-Prize Challenge 2026 for Entrepreneurs (Up to $20,000 Grant)
The D-Prize believes the world needs more social impact organizations and seed for-profit ventures, NGOs, and charities and awards startup grants of up to $20,000 to entrepreneurs launching new organizations.Get more details HERE Call For Applications: Africa Food Prize 2025 (Up to $100,000 Cash prize)
The Africa Food Prize recognizes extraordinary women, men, and institutions whose outstanding contributions to African agriculture are forging a new era of sustainable food security and economic opportunity that elevates all African. Get more details here. Call For Applications: Google for Startups Accelerator Africa 2025
This is a three-month hybrid accelerator program for Seed to Series A technology startups. The accelerator program is designed to bring the best of Google’s programs, products, people and technology to communities across Africa. Get more details and apply HERE You can access many more opportunities HEREFun Facts about EntrepreneurshipDid you know that the Nok people, an ancient civilization in what is now Nigeria (around 1000 BCE to 300 CE), were the pioneers in manufacturing business in West Africa? The Nok people were not only skilled in terracotta sculpture, but they also had advanced iron-smelting technology. This made West Africa one of the earliest regions in the world to independently develop iron-smelting, right up there with India and Anatolia. Some Resources For YouMonetizing Your Supply Chain Data Tips for Human Resources Management for MSMEs 5 Tips on Good Leadership Communication for Business Owners _______________________________________ 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 Olu, 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, 19 April 2025
It’s Time to Trim the Fat
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