Everyone Must Leverage Digital Marketing to Increase Value - Mary Fadare

NELOC News: Can we meet you?

Guest: I am Mary Fadare, a designer, business strategist and digital expert. I am the founder and lead of Mo'Tribe; a community that fosters personal development and business growth for young entrepreneurs where she commits herself to training and developing business owners. I am also the founder of phenomenal Ladies Connect Africa. PLC  Africa, where I lead a community of women who train other ladies to attain excellence across all fields and to amplify the voice of the African woman across the globe. To cap it all, as a graduate of the department of Botany, Obafemi Awolowo University, I am passionate about business and digital technology particularly leveraging digital tools for business growth and profitability.

Read: How GetProspa is Helping Nigerian Businesses Own Corporate Accounts at Zero Cost

NELOC News: How has the digital entrepreneurship journey been for you so far?

Guest: My digital entrepreneurship journey has been different shades of exciting, demanding and profitable for me. Of course it has come with it's own challenges, but I'm grateful for every step of the process.

NELOC News: To you, what is the relevance of digital marketing and how can individuals leverage it for growth?

Guest: Obviously, digital marketing is of high relevance - you almost can't do without it if you want to build a sustainable brand whether it's Business, Personal or even Non-profit. Individuals can leverage digital technology by making themselves visible to the right audience and give out as much value as possible.

NELOC News: How did you come about digital Skills? Are you self taught?

Guest: Well, I attended a conference sometimes in 2016 - The Opportunity Conference and I was completely wowed getting to know the amazing wonders of tech. I stepped out of the conference into a rollercoaster of seeking knowledge, trying out new adventures Online, learning as much as I could, and of course making a lot of mistakes and figuring out stuff on my own. So, yes, I'm self-taught with the help of Google.

NELOC News: How do you think social media management will affect the future of digital revolution?

Guest: New businesses and brands are springing up every minute on social media! A whole lot of people are creating content and making money from their social media followers. I think that goes on to say that it's definitely going to play a major role in changing the norm of how business is being done. The same goes for every other sectors as well. Today, we now have online law firms, online doctors, pharmacists, fitness trainers, just name it! So, like we usually joke, everything is now online! The digital revolution is here already.

 

Read also: Biography of Actress Kehinde Bankole

 

NELOC News: How does internet data price rates affect your productivity online (positively or negatively)? How well have you managed data?

Guest: As regards internet data, I believe that network providers are not taking it easy on us at all. For me, a whopping 20% of my total revenue generated from my online business goes back into buying data. That's pretty much for an average SME. Sincerely, I try to cut down my time Online. At some point, I removed YouTube completely from my list of favorite Online platforms all in a bid to conserve data. The availability and effectiveness of internet data affects my productivity to some extent but like every other challenge in business - we just have to find a way around it by making sure we generate enough Income to cover for data expenses

NELOC News: As a digital expert building a product that revolves round you, what defines social impact for you?

Guest: Social impact for me is value! Being so value oriented, generous and kind in dealing with every single person that comes into my space Online. There's a special joy that fills my heart whenever I am able to deliver the right solution to people's problems and being a part of their business success stories. It's both humbling and overwhelming!

NELOC News: As leader of the Mo'Tribe, what exceptional skill do you think every entrepreneur and business owner should have? Why?

Guest: If there's any skill I'll recommend, it's resilience. Being extremely passionate and focused on your goals such that you'd go any length to make them work regardless of whatever challenge you encounter on the way. It's okay to feel tired sometimes, you may not have all the resources, pay may not see you in your days of little beginnings. But you've got to be "stubborn" enough to stick through and build relevance for yourself and sustainability for your business.

NELOC News:: Tell us more about what you do at Phenomenal Ladies Connect.

Guest: Phenomenal Ladies Connect Africa (PLCAfrica) is a nonprofit organization for ladies. Our vision is to inspire African ladies  towards attaining excellence and relevance in their chosen field everywhere around the world. The goal is to amplify the voice of the African Woman across the globe, to give more recognition and inclusion to us.

NNI: What is your view on Global Youth Development and growth as regards the digital world? 

Guest: I know that many people would respond to this by pointing out incompetence and laziness on the part of many youths out there. But I'd rather commend the efforts of a large number of youths who are consistently committing themselves to growth, making bold moves, challenging the status quo and contributing significantly to the Global Economy at large.

Of course there's always room for improvement. It can only get better. More and more people are waking up and rising to responsibility!

NELOC News: What is your advice to fellow young individuals?

Guest: Work hard while you can. The glory of youths is in their strength. Leverage that strength in you and numerous opportunities at your disposal to make a difference. Find a purpose to live for, focus on what really matters and enjoy your process!

NELOC News: What new heights do you hope to scale in the near future?

Guest: For new heights, I'd love to work with top Consulting firms and land business deals with high profile companies. I also hope to build enough wealth and begin to invest and sponsor small businesses with innovative solutions. I look forward to providing mentorship to young Entrepreneurs as well.

 

 

 

   

Top 5 Mistakes Entrepreneurs Make in 2026

There are many mistakes entrepreneurs make especially when they're just starting or even along the line of the business and I've ran up to 5 businesses over the years and for some of those mistakes, I've made them too. Let's drive!

1. Creating a website too early.

Creating a website for your business is good but for a start, you shouldn't be thinking about that. We all know the cruel amount it is to create one and if that money is invested more into growing your business, it'd serve you better than creating a website to 'level up' your brand. Yes, level up is quoted because that's what they say but trust me, I'm also a blogger and I know what it means to get ordinary traffic on a blog, let alone a site. Let that come later! Focus on your business!

2. They want easy life with an every minute popping alert. Well, we all have that dream. We want to get alerts every minute but c'mon, you can't get that by staying at your comfort zone. You need to wake up and start rigorous study, meeting people, attending seminars that'd promote your business, go for trade fairs and work very hard in advertising your business. You of course cannot do that by sitting and chatting all day long. Go and check those on the Forbes list!

3. They are not time conscious. 

As much as they claim to be busy, they're are not time conscious. Over the years I've learnt of and worked with time. And I'm intentional about it. If you really want to move forward in entrepreneurship, you have to be time conscious and work the while with your time. You must have heard people say "Oh. I've been busy." Or "I don't just have time". That's the spirit. As an entrepreneur, you stop having time for frivolities. You stop unnecessary gists, talks, parties, turn-ups, etc. The only thing that runs through your mind becomes your business. Even in that light, never lose your friendship with people. That'd take us to our next point.

4. They start losing friends all in the name of 'I'm busy'. I know you're not obligated to anyone. At least, you're just friends. But then, if you're in business already, you'd realize most people who recommend or refer your product or service, are your friends. No other person can fill up the 'space of recommendation' in your business. Hold friendships precious but like me, don't get too committed to them except you're in a relationship with an understanding person (well, like me too. Lol). Enjoy friendships. Check up on your friends once in a while when you're just peep-chanced.

5. The last but the greatest- Giving in and giving up. If you ever want to be successful in this life, you need to be stubborn, strong and rugged. You heard me right. Stubborn that you set your heart to something and without listening to anyone or looking back, you're off to doing it. You don't care! Right, that's the spirit! Strong that you might fall on your way but  that thing go make you stand again. Kai! That strength is what makes you an entrepreneur. Rugged that you can do anything to watch your business grow and you can do anything to increase your account figures.

Prospa Helps Nigerian Brands to Own Corporate Bank Accounts

Prospa is a Fintech app that makes it easy for businesses (both small and big) to create bank accounts from home for free. It is a current account for Nigerian businesses that comes with a NUBAN account number in your business name and permits the business to receive from and make transfers to all Nigerian banks. Users can also pay bills and make international transfers to Ghana & Kenya.

 

 

In the average bank today, the process to open a corporate bank account for a business is a very long one and the documents requested are numerous. These documents include the Corporate Affairs Commission (CAC) documents, Power Supply Bill and identification documents. For some banks, much more information is  requested.

Created by Nigerians, the platform is totally free to use and has extra features such as Invoicing which allows you to basically request money from anyone or create invoices to pay your employees. With human support 365 days a year, businesses can later upgrade to enjoy premium features and gain access to additional benefits.

Prospa is a Safe platform with its company, Prospa Technology Limited, duly registered under the Laws of the Federal Republic of Nigeria with RC Number: 1594615. Account numbers to all bank accounts opened on the platform are provided by WEMA Bank and Parkway Ready Cash Bank Plc, a company also duly registered under the Laws of the Federal Republic of Nigeria and licensed by the Central Bank of Nigeria. This puts insurance on all accounts on Prospa up to the NDIC limit. Prospa works with NDIC-insured banks  to store deposits. Prospa also requires https on all pages, and use HSTS to ensure browsers only ever connect to its servers over a secure connection. The platform never stores or logs user passwords and transactional PIN data in plaintext. It also does not send authentication codes via insecure channels like SMS, encrypts its database and all uploaded images, and employ additional encryption for sensitive data, like transaction pins. One way it does all these is by allowing all members to enable time-based, One Time Passwords, for two-factor authentication on their account.

Unlike local banks, Prospa does not have a physical branch but an office situate at 7b ibiyinka Olorunbe close, Victoria island, Lagos, Nigeria. On average it takes 20 minutes for an account to be approved once you’ve submitted your application. However it can take up to 48 hours if  more information is needed from you. Any Nigerian company registered with the Corporate Affairs Commission can open an account with Prospa. Charities and NGOs can open an account too.
You can also apply from outside Nigeria as long as you have a BVN (Bank Verification Number), a registered Nigerian company and all the required KYC information, you can apply from anywhere in the world. If you are in the UK or US with the required documents and need additional assistance you can send an email to [email protected]

It is totally free to open a Prospa account. Businesses are not charged an account opening fee and there's no required monthly minimum balance too maintain. The only charges GetProspa receives per business are in transfer fees. The amount sending Cost of transfer
₦5,000.00    ₦10.00
₦5,000.01 - ₦50,000.00    ₦25.00
₦50,000.01    ₦50.00
Service usage fees *based on the amount of inflow into your account monthly.
Inflow amount Service Fee
₦0.00 - ₦100,000.00    FREE
₦100,000.01 - ₦500,000.00    ₦3,000.00
₦500,000.01 - ₦10,000,000.00    ₦5,000.00
>₦10,000,000.00    Contact billing
What if my business does more than ₦10,000,000.00 ?
Account upgrades
 

Prospa Thrive

The company's Prospa thrive is a premium service which gives users additional features and benefits for a monthly subscription fee. Although subject to terms and conditions, the Prospa thrive package offers unlimited sub-accounts, unlimited team members, unlimited additional businesses, seven free transfers per month, access to legal support (T&C’s apply), access to accounting support and priority support. Prospa Thrive costs ₦2,000 for its Micro package and ₦3,700 for its standard package.
 

What documents do you need for a Functional GetProspa Account?

For its KYC (Know Your Customer) documents, every company account on GetProspa requires its account holder's BVN (Bank Verification Number), Certificate of Incorporation or Business Registration Ducument, CAC (Corporate Affairs Commission) registration forms, a valid government issued ID for directors (International Passport, Drivers licence, Voters card, National I.D card), TIN number (We can help with this), proof of address (Utility bill), board resolution (you can generate from your Prospa dashboard) and 2 references (You’ll have extended time to provide this)

As regards BVN, GetProspa uses your BVN to verify your identity. When you enter your BVN, the only data retrieved is your name, date of birth and the mobile phone number attached to your BVN. We do not have access to any of your bank accounts, transaction history or other sensitive financial data. If the last 4 digits of my BVN says not matching and you are sure you are entering the correct 4 digits, you will need to go to the bank branch where you registered your BVN and ask for assistance as we have no control over the data returned from your BVN. If you have forgotten the number connected to your BVN, you will need to go to the bank branch where you registered your BVN and ask for assistance.

 

 

You may also be asked for more information about your business as part of its KYC. This helps Getprospa to know as much detail as possible about your business and the products and services you offer. Once theses details are confirmed, your account opening application will be approved.

GetProspa's Corporate Account Features

Individuals, brands and corporates who are interested in partnering with Prospa based on similar mission objectives must understand that Prospa, a fintech start-up founded in Nigeria, has long-term plans to serve the diaspora of African entrepreneurs globally. The company went live in September 2019, and has since been operating on a limited release, onboarding members only. In stealth since its initial launch, Prospa is still growing in Nigeria, where it plans to launch fully “soon”. The start-up’s sweet-spot customers are entrepreneurs and micro-SMEs

According to its co-founder and CEO, Frederik Obasi, Prospa provides the platform, not the bank. As such, the start-up is in partnership with WEMA Bank and ReadyCash to fill in for third-party banking. Obasi says Prospa is in the process of getting its own license. This isn’t to compete with banks – but to expand the scope of its partnerships.

 

Read: Making a Computer Virus is not against the Law - Surya Aezowie
 

 

Prospa has members in the UK, the US and Canada – all regions it eventually plans to expand into to serve African entrepreneurs. The start-up has already raised a pre-seed round and is back by New York-based investor, Musha Ventures – which also backs Flutterwave, one of Nigeria’s fintech darlings. Angel investors include David Mortamias, the man behind Mava Ventures, and Danu Temelie. Obasi says that there’s so much talk about products and money raised. Everyone is hell-bent on creating a new brand, but the company wants to focus on spurring prosperity in the wider African community. This is why GetProspa is specific on the investors being authentic and mission-driven.

 

Alongside London-born Obasi, Prospa was also co-founded by Chioma Ugo, its head of growth who previously served as parliamentary advisor for UK Labour MP Harriet Harman. As well as its chief technology officer, Rodney Jackson-Cole, who has spent the last ten years building products for start-ups across Africa.

 

Prospa set out to build a platform for African entrepreneurs which manages everything finance-related. The start-up began building out its offering in May 2019.

 

Getting a business account in five minutes sounds straightforward in Europe, but in Africa it’s still done largely in paper-form,” explains Obasi. Rather than replicate an offline bank online, Prospa decided to build out an entire operating system. “ Operating a ‘business hub-as-a-service’, the hub looks beyond simply making a payment, which it has already taken internationally to more than ten countries including the UK, China, the US, and Kenya. The fintech also offers a marketplace to find suppliers, transaction reconciliation, and visualisation on customer transaction histories to analyse best-selling products and the highest spending customers. The start-up’s sweet-spot customers are entrepreneurs and micro-SMEs which do around a million a year. These businesses can be anything from large machinery importers to make-up artists.
 

GetProspa's Competition

Since its launch in Nigeria, Prospa has analysed the split of female and male customers. Around 65-70% of its customer base to date is women. Whilst a lot of the highlighted success is male, women are also incredibly hard-working and very entrepreneurial. Some 40% of Nigerian women are entrepreneurs, according to a BBC Africa report in 2017. This makes sense, considering areas of sub-Saharan Africa have the highest female entrepreneurship rate globally. Mastercard’s 2017 Index of Women Entrepreneurs (MIWE) report found Uganda has the highest percentage (34.8%) of women business owners in the world. The East African country also has the highest percentage (90.5%) of female entrepreneurs in the world borrowing and saving money to start a business.

Because Prospa partners with incumbent banks, this means its competition isn’t quite like the competition challengers in Europe or the US face. The competition really lies in the Big Techs, the mega platforms. This is because they have micro-sellers using them for marketing. According to her Growth head, Ugo, Prospa is focused on the business community, whilst a lot of other fintechs in countries like Nigeria and Kenya are still focusing on consumers.

 

Prospa makes its money through a monthly subscription. Each account comes with different services. The start-up also generates revenue on remittances. Membership fees are based on turnover, and Prospa doesn’t charge a membership fee to businesses turning over less than $200 a month.

 

Finally, Prospa does not offer loans, international transfers (outside the Naira -₦), POS terminals and cards at the moment, but we will in the near future. Also, you cannot deposit cash currently as Prospa accounts suit businesses that collect and make payments through transfers. 

 

 

I believe So much in Referrals for any Business - Apelegan Tolani

In our interview with Omotolani, she shares with us her entrepreneurship story, the positives and negatives. Let's walk the talk with her.

NNI: Can we meet you?

Guest: I'm Apelegan Omotolani Elizabeth, a law graduate of the Obafemi Awolowo University. I'm a Christian and here on campus I attend Communion Christian Centre. I'm a very active person, I love to be busy and productive. Adding value is key in whatever I find myself. And, I'm an entrepreneur

NNI: How has Nih Mixes grown over the years?
Guest: Nih Mixes is a fast growing cocktail brand. We make the finest cocktails at simple charges and offer affordable luxury. Nih Mixes clocked one in May 2018 and I can say that it's been awesome all along. Considering the fact that Cocktails are not very known in this part of the country or better put, people around here do not really see cocktails as an essential part of their events and as such, proper orientation must be given to your clients or prospective clients while trying to convince them about your services. I can categorically say that Nih Mixes has given some level of awareness to people in this environ that cocktails are integral part of of any party, especially when you want it to speak class.
 
Apelegan Tolani, CEO Nih Mixes

NNI: In building a brand and a personality, what challenges have you faced?

Guest: I believe so much in that saying of preserving your name instead of amassing silver and gold. I love my name so much that I wouldn't do anything to soil it. So me being an entrepreneur, I try my utmost best to provide services that cannot be matched elsewhere, I prove to my clients and their guests that the money they paid me, they spent judiciously. You know when a flop comes from my end, the first thing anyone will say is, "you know that Tolani girl, the one that owns Nih Mixes, she's so unprofessional". Such statements hinder the growth of any brand and even soils the name of the owner of the brand. So what I do basically is to meet and surpass the expectations of any one who hires my services so that such person will refer me to others. I believe so much in referrals for any business.
For the challenges, my greatest change so far is transportation. Conveying my tools down to the venue is always very difficult, at times, I'm even discouraged but on such days, I remind myself the reason why Nih Mixes was birthed. Other challenges are petty, like party guests talking without respect to you while you're working, but you know a customer is always right so most times, I just calm them down and continue my work.

NELOC News: Do you intend to practice Law or go the business way?

Guest: Definitely, I'll practice law. It's a childhood dream for me and that dream must be realized. That doesn't stop me from doing business anyway. I'd love to be a renown mixologist and bartender all over the world, along side being a Lawyer, isn't that beautiful?

NELOC News: It is. Is business for you, Nih Mixes or nothing else? Is there any other thing you'd have ventured into?

Guest: I'd like to go into the hospitality industry, not now though. I'd also do well in trading.

NELOC News: On Finance, Capital issues and investor management, How have you matched these in your business?

Guest: Financing is quite difficult owing to the fact that cocktail tools and syrups are quite expensive. But you know nothing is impossible when you're focused. My capital was rather on a very low budget. I expanded with time. Also, I've never had an investor, but I look forward to having one.

NNI: What's the future for Nih Mixes? What should investors expect?

Guest: I'm taking Nih Mixes global. I look forward to having a very big cocktail bar in the big cities across the country. I want Nih Mixes to be a household name. Investors too should be rest assured that their money will be spent wisely and their profits will never be shortchanged.

NELOC News: How do you balanced business with other assignments?

Guest: It's not been very rosy. I mentioned earlier that I love to get busy and be productive. In the real sense, I'm a very busy young lady. I'm actively involved in so many organizations and associations on campus. I also do not joke with church. I have other engagements too and I'm also a law student at that which requires that I read well. I only try to juggle them together. I try not to let one affect the other even though it's almost impossible. I just make sure that premium attention is given to what matters at every point in time.
 
 

NELOC News: What's your biggest boom in business and your worst experience so far?

Guest: My biggest boom has always been from referrals. It boosts my brand so much that I have no choice than to deliver. For my worst experience, I can remember lobbying for a particular job for months and eventually, I was not given. It really affected me and weighed me down. I got over it though.

NELOC News: What Advice would you give to Young Entrepreneurs?

Guest: Know your market. A lot of student Entrepreneurs do not know their market which is very inimical to the brand. Knowing your market will avail you the opportunity to give that wonderful service. You should also do not let your business affect your academics. The very first reason why you were sent to school is for you to make good grades, know how to balance it.
Put God first and every other things will fall in place.

Opinion: A Discussion on Grants and Entrepreneurship

The world is flourishing with ideas by entrepreneurs, as beautiful as these ideas may seem, inaccessibility to funding makes the execution of the idea a mirage- Funds nurture ideas.

The implementation of innovations and progression of already existing business depends largely on the availability of finance. Hence, there is a need to spell out appropriate strategies for its acquisition. The growth of businesses especially in developing nations where people have less access to grants is dependent on finance.

There is a common misconception that entrepreneurs have to own a large capital before starting their business. It is true that grants can actually help scale up the business, but the entrepreneurial skill lies in the ability to convert a small amount of the capital to yield a higher return.

Depending on the type of business, most starters often start small, especially if it is a service based business. Entrepreneurs, particularly small scale entrepreneurs are sometimes advised to cut down cost at the start of the business as much as possible. Instead of going for that expensive outlet, why not begin from a more affordable one that would provide the same service as the expensive one. As the business begins to grow, then you may start thinking of expanding your market. Trying to start out rightly big may tend to cloud your sight from seeing other possibilities to make it happen without external funding. The key is to find the lowest cost method to start when there is absence of external funding.

Of all means of financing, the most reliable and potent is the personal source of funding, that is, the personal savings. This is often the initial capital, a prerequisite at the early birth of the business, although it may not bring about adequate expansion of the business. The interest of investors in the business would be quenched if little or nothing is contributed by the business owner. Hence, depositing your own capital to cover the cost of launching will prompt prospective investors to invest in your business. Starting with your own capital will also help prevent huge loss when mistakes happen.

When sourcing for funds, it is important for entrepreneurs to identify the best source that would suit or is most ideal for the present need. Long term funds should not serve short term goals, that is, if fund is needed to cater for a need that would yield within two months, then entrepreneurs may want to source for funds through overdrafts, family and friends. Family and friends can help with the little they can provide coupled with your personal saving. It is not until you receive a big grant before you can take a small step which will accumulate to a big difference in the business.

Some entrepreneurs tend to overlook the importance of having a sound business plan. The business plan speaks for the business. It gives an overview about the business by projecting the entrepreneur’s vision, the mission of the business. Your business plan may be the important tool that would link you to potential investors, it serves as a proposal tool for application for loan or facility. Business plan gives the investor an in-depth knowledge about the business and may also help you to establish confidence in the investor. Hence, it is important for entrepreneurs to design a sound business plan which may be what you need for that big success.

Entrepreneurs may also want to consider the idea of strategic partnership, partnership does not mean selling your idea to someone, and it is simply collaborating, pulling resources together. This helps a great way than sole funding.

Furthermore, finding the right client and working on the client helps to expand the market. It involves the selling skills to convince the client that your service or product is worth paying for. The right client may be from your network, which is why it is important for upcoming entrepreneurs to expand their network and pitch their ideas to the network. In practice, entrepreneurs raise funds from multitude of sources, the idea is finding the right source that is tailored for your type of business without running into debts.