Over 100 thriving business owners from the private sector across various industries of the economy, public servants, and investment bankers came together last Thursday 12th of May to celebrate the first anniversary of Cedrus Group Africa at their ‘Magnate’s Breakfast.’, a first of its series. The attendees enjoyed a morning filled with networking, learning, and camaraderie.
The event commenced with the greeting and acknowledgement of esteemed guests by the event Compere, Bella Ikeme, CEO of Caizen Business Development Company. After being treated to a delicious breakfast buffet at the Lagos Continental hotel, guests enjoyed an insightful keynote presentation tagged ‘SMEs and their Global Impact: Why SMEs fail’ by Prince Abimbola Olashore, the President and Chairman of the Council. Association of Investment Advisors and Portfolio Managers. “As business owners, we need to stop working in silos and start collaborating amongst ourselves to serve every need associated with our industries”, he told a rapt audience. He also highlighted the importance of SMEs to the global economy, the ways in which the Nigerian SME ecosystem is severely lacking when compared to the rest of the world and how Nigerian business owners can do better to succeed locally and globally.
The event also featured a panel discussion with speakers who are business leaders with vast experience within their different industries. Speakers included Kayode Falasinui, Tosin Ajose, Ayobola Abiola, and Dr. Omopeju Afanu. The panel was moderated by Olubusayo Adeniyi, CEO of Cedrus Group Africa.
Videos of the event will be uploaded on the Cedrus Group Africa social pages and YouTube channel in the coming weeks.
Ideas shared during the day included Tosin Ajose, Founder of DealHQ Partners, who espoused the importance of systems, processes, and structures when starting and operating a business. She also pointed out a fatal flaw in most SME operations: the lack of proper data collation during the early years of operations.
Dr Omopeju Afanu, the current Managing Director of Cooperhouse Ltd, spoke on technology being at the heart of SME growth and ‘convenience’ being the product of the future. She also spoke on starting a business out of one’s passion and skill sets and not due to following current profitable trends.
Kayode Falasinu, CEO of AVA Capital Group spoke on the significant risk present in the African SME ecosystem. He explained that the onus is on SME owners to de-risk their businesses to attract investors by putting the right processes from the onset.
Sir Ayobola Abiola, founder & CEO of Fullhouse Advisory Partners spoke about the role of financial advisors in helping a business through every stage of its life cycle from inception to success. He explained that advisory firms can help businesses with market research, operations, governance, or whatever is required beyond financing.
After the panel discussion, the ‘Cedrus 5000 Africa SMEs’ program was officially launched; The program is intended to give over 5000 Sub-Saharan Small and Medium Scale Enterprises (SMEs) access to specialised advisory services required for scaling, funding and corporate development. Selected businesses would have the opportunity to follow a well-structured business-enhancement process to emerge into globally competitive entities.
“We believe that SMEs will play a key role in the financial independence of Africa”, said CEO of Cedrus Group Africa, Olubusayo Adeniyi, when asked about the firm’s focus on SME financing. “That is why we are so willing to invest in SMEs. We are investing in our continent’s future.’”
The event concluded with free advisory sessions where the panel speakers as well as Cedrus Group Africa staff were on hand to assist guests with the immediate challenges facing their businesses and steps to take to improve operations and profitability.
Sponsors for this event were AVA Capital Group, Whitegate Homes, Elvita Bitters, Keystone Bank, and the United Bank of Africa.
More information can be found at: https://cedrusgroup.africa/smes/
About Cedrus Group Africa:
Cedrus Group is a globally-minded, Pan-African, financial and investment institution committed to delivering innovative financial advisory solutions to municipals, corporations, institutional investors and private clients across Africa and in the diaspora. They fulfill this commitment by providing distinctive advisory services on strategic investments and wealth management matters. Its vision is to become a trusted Pan-African financial institution that provides world-class and cutting-edge investment solutions for all our clients. Cedrus Group is located in Lagos, Abuja, and the British Virgin Islands.
For more information about Cedrus Group Africa, visit https://cedrusgroup.africa/
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