The Founder and Chief Strategist, Nicky Okoye Organisation (NOO), Dr. Nicky Okoye, has outlined six strategies that can help reposition and usher in monumental wealth and prosperity for Nigerian and African businesses over a short-term period.
Okoye, spoke at the Global Capital Strategy Session hosted by NOO in Awka, Anambra State, which was attended by over 600 entrepreneurs in Nigeria and Ghana. According to him, the strategies, which were developed by his team, if adopted by entrepreneurs, would receive favorable attention from global capital institutional investors.
He highlighted the Chinese Strategy, which he said Nigerian and African entrepreneurs could use to gain from over 85 million jobs that would be leaving China for new manufacturing bases over the next five years, as China joins the high income countries.
Okoye spoke about having a Digital Strategy in which over 10 million African businesses need to adopt a new digital profile and reposition using cutting edge technologies of virtual reality, artificial intelligence, nano technology and robotics.
Other strategies he outlined, included an Agricultural Strategy which would convert strategic sites in Nigeria into a global base for processing and export of processed agricultural products, especially citing industrial processing estates for cassava, cashew, cocoa, sorghum, sesame seed and palm products, all agricultural products that Nigeria leads as top three or top ten in global production today.
The NOO boss also mentioned a Local Content Strategy which has achieved success in Nigeria’s oil and gas industry, saying it needed to be extended beyond hydrocarbons.
“This is an Africa Content Strategy which would allow entrepreneurs and businesses to build capacity on the back of the Africa Continental Free Trade Area agreement currently being established and there is also the Diaspora Strategy which gives entrepreneurs and businesses the possibility to start looking at the $270 billion in annual earnings of the Nigerians in Diaspora population as a market into on itself,” he said.
Okoye, who worked with Merrill Lynch, the Nigerian Stock Exchange, Transcorp and NITEL, advised entrepreneurs to adopt a new approach to raising capital and investment which he termed a Global Capital Strategy.
“Entrepreneurs should follow already designed and researched laid down procedure for achieving an investment grade business structure which includes a business excellence matrix, a determined value proposition and a business strategy framework which all together form the basis for a successful global capital strategy and subsequent investment in your business,” he said.