For businesses to thrive within the current economic conditions in Nigeria, entrepreneurs must be focused, innovative, and determined to pursue their visions vigorously.
This was the opinion of experts at the seventh anniversary ceremony of Sentinel Holdings, in Lagos. At the event, the company unveiled its plans to venture into the finance sector with the vision to create wealth for Africans.
Chief Executive Officer and Founder, Sentinel Holdings, Emmanuel Ekwu, in a chat, said: “In near future, Sentinel will be one of the leading financial institutions in Nigeria, which is our Pan African vision. We plan to spread across Africa and beyond.
“At Sentinel Holdings, we are passionate about African capitalism. We want to get involved in social wealth, build wealth for a longer time, and be part of the company that innovated Africa. We want to see Africa rise. We want to make our contributions to changing the quality and capital deficit that we see in Africa that makes some companies not to exceed the first generation. And a whole lot of that, reason we are venturing into the financial industry,” he said.
With a very challenging economic condition in Nigeria as reflected in galloping inflation, volatile exchange rate regime, high energy cost and soaring commodity prices, businesses in the country are struggling, but Ekwu stated that the current economic situation also portends some opportunities, urging entrepreneurs to garner more knowledge about their kind of business, be innovative and ensure that their products and services meet the current market demands.
“Many people are thriving in the midst of the harsh economy. All you need to do is to measure your focus. Pursue your vision, and as long as your vision is big enough, you need to make sure that you pursue it vigorously. Besides, you need to continually evolve, innovate to ensure that you are able to meet up with the current market demands. Your business must be impactful and beneficial to the people.
“And I can tell you, there are people out there that have money to do business, but they are looking for trusted businesses. They are looking for credible businesses. They are looking for investment that they can put their money into, and there will be no story at the end of the day. The truth is that in every economic cycle, no matter how bad it is, new millionaires are made; no matter how bad the economy is, some people are succeeding and thriving.” he said.
He also urged investors to be willing to learn and grow at their own pace, be ready to resist the get-rich-quick syndrome and have an accountability mentality.
Revealing that Sentinel started the business with zero capital, Ekwu said the company is now celebrating what he called 3G, meaning from Grass to Grace and Glory.
He said after seven successful years of operation, the company is transforming from Sentinel Resources and Capital Investment Limited to Sentinel Holdings.
This, according to him, was due to the expansion of its business scope to cover more sectors such as real estate, investment, constructions, publishing, as well as training and development, adding that the company would venture into the financial sector very soon.
Giving more details about the new business line, the Chief Marketing Officer and Co-Founder, Sentinel Holdings, Monday Ebosede, said: “We are at the consultancy stage. We are looking at the regulatory conditions. We are looking at venturing into mortgage and microfinance banking. We are also interested in running our business with InfoTech. There is this prop tech in the industry that we are venturing into. So those are the things that we are working on for the future. We want to make sure that they are ready before we float them, it is in the pipeline and we are working on them seriously,”
He said the company’s priority is around customer’s satisfaction. Ebosele said: “We are trying to make sure that we are not just in business to succeed alone or for us to make money, but we are in business to ensure that we change life, impact lives, and help people to be successful.”
The Managing Director, Palmpay, Chikaz Nwosu, who spoke about, “Building a sustainable business with Fintech”, said innovation is the heartbeat of Fin Tech, and it is about solving people’s problems.
He said sustainability in business could be achieved through constant adaptations, always having the customers in mind, and building trust, as trust is the most sustainable asset a company can have.
Nwosu added that collaboration with regulators to ensure full compliance with local laws would also keep businesses alive and ensure that entrepreneurs do not make wrong decisions.
He also stressed importance of financial inclusion, building partnership, noting that no business can survive in isolation. He added that partnership allows firms to offer a broader range of services.
On Fin Techs, he said the potential in Nigeria is limitless, urging indigenous firms to tap into the opportunities.
Legal Officer, Sentinel Holdings, Mrs. Temitope Ugberaese said: “Sentinel believed that business is about people, about the trust we build, the relationships we foster, and the impact we create together. Whether it is through our product, services or partnership, we are committed to driving forward with purpose and passion, and a crucial part of that journey, without a doubt, we have worked hard to get to this point, very hard, but it is the collaboration with people, which truly turns our ambition into achievement.”
Chief Executive Officer, Commonsense Group, Olumide Emmanuel, applauded Sentinel for the giant stride in the last seven year. He said: “That I am here today is because of the high level of integrity the promoters of this company have. Investing and partnering with them is a security for the future. The investment you make with them today is sending your money to work for you and you are sure of good return on your investment.
