In furtherance of its commitment to supporting and empowering African Retail Markets and businesses and achieving its corporate objectives of operating the Africa Retail Academy, the Lagos Business School (LBS), has entered a strategic partnership with a company based in Lagos and engaged in the business of financial advisory, financial advocacy, financial information repository, and financial literacy. Nairametrics Financial Advocates Limited (NFAL)
The partnership aims to focus on cultivating expertise within the African retail sector towards promoting current retail market advancements in Nigeria and the African continent.
The partnership will establish a mutually beneficial alliance that will support and empower retail enterprises through the use of data-driven insights, multimedia platforms, and retail conferences.
Commenting on the partnership, Professor Louis Nzegwu, Conference Chair for the Africa Retail Academy noted that he was pleased that discussions, which commenced in the middle of June 2023, had come to fruition with the signing of the Strategic Alliance Agreement. He further stated that the agreement, which took effect on September 1, 2023, brings into play the synergies of both organizations in harnessing people, data, analysis, and information towards the growth of the retail market space in Africa.
In response, the Chief Executive at Nairametrics, Ugo Obi-Chukwu aka Ugodre, complimented the Lagos Business School for all the work they are doing in developing and sharing knowledge, noting that this aligns with Nairametrics’ vision of “creating wealth through information”.
Going further, Ugodre acknowledged that a huge path to building Africa’s prosperity lies in the ability to harness the right data, develop data-driven strategies, and create policies that would enable governments, organizations, and the public to tap into opportunities for wealth creation through financial literacy.
In line with the agreement, both parties will work together to ensure that key players in the retail sector have access to relevant insights to enable better decision-making and to create the required regulatory framework and policies that will unlock the growth of the retail sector in Africa. Areas of collaboration include the following.
- Joint provision of data support between the partners towards creating impactful information graphics and visuals that retail market operators can access across both platforms.
- Nairametrics Financial Advocates Limited (NFAL) to convene monthly and/or quarterly webinars in conjunction with Lagos Business School (LBS) for retail market operators and players aimed at knowledge sharing and capacity building.
- Lagos Business School (LBS) to actively partake in Nairametrics Financial Advocates Limited (NFAL) networking events as per agreed schedules.
- Nairametrics Financial Advocates Limited (NFAL) to assist with the organization and promotion of the Annual Retail Congress and Recognition Awards organized by the Lagos Business School (LBS).
- Nairametrics Financial Advocates Limited (NFAL) can have access to the data of retail market operators in line with the Data Protection Act of 2023, to enable the continued upgrade and improvements of the NFAL retail database.
- In-depth publication by both parties on retail market activities covering areas related to retail market mega-trends, demand drivers, and analysis of spending patterns in the retail markets and sectors in Nigeria and across Africa.
The Africa Retail Congress and Recognition Award comes up on Saturday, November 11, 2023. It is important to note that preparations for the 2023 African Retail Congress and Recognition Awards have commenced in earnest. This fully sponsored event is open to key players in the retail sector across Africa.
Interested attendees can register using this link – Africa Retail Congress 2023 (lbs.edu.ng), whilst applicants for the Recognition award can apply in their category of operations via this link – 2023 Africa Retail Awards | LBS Africa Retail Academy
