ENEM International Services

You have been an amazing mentor,leader and friend.
May every step you take be filled with great success.
Happy birthday ma.

A total of 894 micro finance banks have been licensed by the Central Bank of Nigeria (CBN).

Some of these banks have morphed into full digital banks leveraging mobile apps to provide financial services.

These 10 digital banks are among the top licensed micro finance banks bridging the financial inclusion gap in Nigeria.

1. SOFRI :- Sofri digital bank is powered by Link micro finance Bank

2. MINT :- Mint is a virtual bank powered by Finex Micro Finance Bank Ltd.

3. PIGGVEST :- Piggvest is insured by Deposit Insurance Corporation (NDIC).

4. VFD :- VFD Micro Finance Bank is a streamlined digital and mobile banking platform.

5. MONIEPOINT :- Moniepoint is formerly known as TeamApt, they provide financial services digitally.

6. FAIRMONEY :- Fairmoney is a digital bank focused on lending.

7. CARBON :- Carbon provides loan facility and investments opportunities in addition to usual digital banking features.

8. KUDA :- Although Kuda is based in London, it is currently focused on the Nigeria market. Kuda accounts come with a free debit card, budgeting and spending controls, and transfers and savings functions as well.

9. EYOWO :- Eyowo unifies all the financial tools you need to pay, receive, budget and save money in one place.

10. SPARKLE :- Sparkle offers not only banking services but also improves the financial lifestyle of its customers.

Bottom line, while the list is by no means exhaustive, knowing the status of these banks with regards to licensing gives some level of assurance to customers that their money is safe as the digital space is now proliferated with illegal players.

Monetary Policy Rate raised from 17.50% to 18%

Monetary Policy Committee (MPC) of the Central Bank of Nigeria raises the monetary policy rate to 18% from the previous 17.50%.

Economic experts said the move would have negative consequences on businesses and the economic at large.

The MPC had cited that the increase in the rate was to further tame inflation. However, experts say the new rate would have a counter- effect on businesses and by extension, the larger economy also investors will be affected by the hike.

Poor product/market fit:- This means that the product or services doesn’t meet the needs or desires of the target audience.

• Insufficient funding:- Startups need capital to survive and grow, and many fail because they don’t have enough money to sustain themselves.

•Legal or regulatory issues:- Failure to comply with regulations or licensing requirements can result in fines, legal battles or even closure of the business.

• Ineffective leadership:- The founder may not have the necessary experience,skills, or vision to effectively guide the company through it’s early stages.

• Competition:- Competitions can be fierce in many industries and startups may struggle to compete with established players.

Overall, startups needs to have a strong understanding of their market and a clear plan to overcome any obstacles they may encounter along the way.
Do you need a business consultant to hold you through your business?
Contact us at www.enemconsulting.net or call 07034049285.

With us you get

• Competitive Analysis:- We do research into your industry and competitors so your business can be better positioned.

• Ideal Customer Analysis:- We work with you to identify your ideal customers and develop strategies to reach them.

• Financial Projections:- Our business plan offers a 3 years financial projections to ensure your target revenue is set and expenditure is properly set.

• SWOT Analysis:- We help you identify Strengths, Weaknesses, Opportunities and Threats your business faces in your industry.We also help you identify your unique selling points.

Send us a message today to get you started.

*Book keeping Tips for Small Businesses*

• Open a separate Account: Do not mix your personal finances with your business finances

• Use an Accounting Software: Using an accounting software make work easier and more automated.

• Reconcile and Track your accounts regularly: Not reconciling your accounts and tracking the progress of your business is a sure way to end on debts or go bankrupt.

• Analyze your cost: Analyzing your cost helps you determine if a product or services is worth launching or not.

For your business consultation services contact us on 07034049285 or visit our website at www.enemconsulting.net

African Development Bank and partners in conjunction with the Federal Government of Nigeria launches $672 million in Nigeria’s digital and creative industries.

The initiative will benefit more than 200 technology and creative startups and about 450 digital technology small and medium enterprises.

The development objective of the program is to promote entrepreneurship and innovation in digital technology and creative industries to support the government’s job creation efforts, especially for young people.

Read more here ⬇️

https://projectsportal.afdb.org/dataportal/VProject/show/P-NG-K00-009

It is time to get out of your comfort zone and take steps towards building the business you actually want.

Do you need our services?
Call 07034049285 or visit our website at www.enemconsulting.net

Growth is quite pertinent to the long-term survival of a business.
It helps acquire assets, attract new talent and fund investments. It also drives business performance and profit.

Let’s help you grow your business.
Call 07034049285 or visit www.enemconsulting.net to get you started.

Open Banking: CBN Issues new guidelines that will change Nigerian banking forever.

The Central Bank of Nigeria has announced the issuance of
Operational guidelines for open banking in the country.

The new guidelines will enable the sharing of customer-permissioned data between banks and third-party firms,with the aim of creating customer- focused products and services, improving efficiency, and promoting competition in the financial sector.

A statement was released on Monday, and signed by Musa I. Jimoh Director, Payments Systems Management Department of the Central Bank of Nigeria, stated that the adoption of open banking will deepen the financial system in Nigeria and further its mandate of ensuring stability in the sector.

The guidelines are expected to enhance access of financial services in the country.

Why is it necessary?
For example, a fintech company could use a customer’s transaction history to offer them personalized financial advice or suggest investment opportunities based on their spending patterns.By sharing data through third party forms can work together with o create new financial products and services that benefits customers and improve the efficiency of the financial system.

Open banking reduces the barriers to entry for new fintechs by allowing them access customer permissioned data through the APIs of banks, thereby minimizing the need for time consuming and expensive KYC procedures.

Open banking has the potential to revolutionize the financial industry by promoting innovation,competition and collaboration among banks and fintech firms.
It is expected to lead to the development of new and innovative financial products and services, as well as increased access to financial services for millions of people who are currently underserved by the traditional banking system.

We embrace equity to forge harmony and unity, and to help drive success for all.
Equality is the goal,and equity is the means to get there.
Through the process of equity, we can reach equality.

Happy International Women’s Day

Are you planning to launch your startup or business?
You need a Business Plan which will provide you with all the information and steps needed for a successful startup.
From refining your idea, to financial analysis, marketing and sales strategy and team organogram.

We are here for every step
Visit www.enemconsulting.net or call 07034049285 to get you started.
strategy

May good health and good fortune be your portion as you step into the new month.

Happy New Month

Enemconsulting offer top notch business consulting services such as business registration,company incorporation,loan advisory,trademark,business consultation,training.
We are also expert in business documents writing such as business plans,business proposals,company profile, pitch decks,marketing plans etc..

You need our services? Visit www.enemconsulting.net or call 07034049285 to get you started.
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It is your right as a Nigerian citizen to execute your civic right.
Vote wisely.

Startup budgets are a great tool for anyone looking to start a business. They can help in determining how much funding you will need and what expenses will be covered by the company.

Creating a budget is one of the essential steps to building a successful business.

Are you looking for a business consultant?
Get in touch with us at www.enemconsulting.net or call 07034049285.

Before you get a business plan, do the following;
• Define your objectives:- Try imagining the future of your business, say 5years from now, will your business have grown in size and value?, will your business be able to function well without your presence?

Define your financial goals:- Start by asking yourself what kind of financing you will need to start.How much your business will be able to yield over a period of time.

Be prepared to utilize your plans:- A business plan can used for several things, from monitoring your company’s progress towards goals to enticing key employees to join your firm. Deciding how you intend to use yours is an important part of preparing to write it .

Be logical:- While hoping for the best outcomes, it is important to draft a logical business plan that is achievable.

At Enemconsulting, we develop business plans that get you funding and help you achieve your business goals.
Visit www.enemconsulting.net or call 07034049285 to get you started.

Business registration is the first and most vital aspect of branding a business. It gives your business the legal backing it needs to function.

The following are some of the benefits a registered business enjoys in Nigeria;
• Certificate or Incorporation from Corporate Affairs Commission (CAC).
• Separate legal entity.
• Raising significant capital.
• Reputation with customers.
• Legal protection.
• Getting loans.

Do you want to register your businesses?
Enemconsulting takes the whole registration stress off you, we are legit, quick, efficient and reliable.

Visit www.enemconsulting.net or call 07034049285 to get you started.

How to prepare your company for investors

Preparing your company for investors involves several steps to ensure you're presenting a strong, attractive investment opportunity:

Develop a clear, concise business plan: This should outline your company's mission, market, products/services, financial projections, and growth strategy.

Conduct market research: This includes analyzing your industry, competitors, and target audience to understand your potential for growth.
Assemble a top-notch management team: Investors will want to see a team with relevant experience, a track record of success, and a clear vision for the company's future.

Strengthen your financial position: This involves managing your cash flow, reducing debt, and improving your balance sheet. You should also create detailed financial projections for at least the next three to five years.

Enhance your company's brand and reputation: This involves creating a strong company culture, developing a solid online presence, and building strong relationships with stakeholders.

Plan for your pitch: This involves practicing your presentation, anticipating questions from investors, and having all relevant materials ready, such as financial statements and business plans.

Network and seek out potential investors: This involves reaching out to venture capitalists, angel investors, and other potential investors to build relationships and present your investment opportunity.
Remember, attracting investors requires more than just a good pitch. It also requires a solid business plan, a well-run company, and a management team with a clear vision for growth.
Do you need our services? Visit www.enemconsulting.net or call 07034049285 to get you started.

In accessing external funding, there are various documents required by investors which in turn make your business investor- ready.
Do you funding for your business? Then visit www.enemconsulting.net or call 07034049285 to get you started.

Business documents are files of various types that record various details regarding an organization’s internal and external dealings.

They are usually essential for a company’s management as they provide the information needed to properly run.
Do you need a business document(s)? If YES visit www.enemconsulting.net or call 07034049285 to get you started.

“If you fail to plan, then you plan to fail” as simple as this might sound but it’s the absolute truth.

External factors affecting a business are unpredictable and you don’t know what might happen to your business that is why you need a plan to envision and get you prepared for any factors that might come your way.

If business growth is your priority this year contact us at www.enemconsulting.net or call 07034049285.

It is important to develop a system to keep your income and expenses organized.

This enables you control costs, and see where your money is going or how much money is entering into the business.

This entire process helps you become more financially aware.

HAPPY NEW MONTH!!!

May God guide you always and continue to shower you with grace and abundant blessings.

Business strategy is a documented plan on how an organization is setting out to achieve its goals and objectives.

It gives business time to get a sense of how they are performing and what their capabilities are and if these capabilities are able to help them grow.
Do you want to plan out your business strategy or advisory call 07034049285 or visit www.enemconsulting.net to get you started.

CBN,NIBSS Unveil Nigeria’s National payment card, AfriGo, to rival Visa and Master card dominance.

The Central Bank of Nigeria(CBN) and the Nigeria Inter-Bank Settlement Systems (NIBBS) have unveiled Nigeria’s first National payment card, AfriGo.

The card which will perform like other international payment cards is aimed at boosting financial inclusion in the country and reducing dependence on foreign cards.

During the unveiling at a virtual event on Thursday, the CBN Governor, Godwin Emefiele said the card was designed to cater to local peculiarities that the existing card products have failed to cater to.

According to him, with the AfriGo card, Nigeria has joined countries like China, Russia,Turkey and India which have their local cards.He noted that the operation of the local cards will not prevent the cards but will provide more options for Nigerians.

Benefits of AfriGo
• With the implementation of the National Domestic Card Scheme, the industry will reap potential benefits which include improved transaction security, better pricing opportunities, reduced demand for FC and less pressure on the Naira, locally relevant partnerships and offerings developing local skills in card and payment space.

• Other advantages include a boost to financial inclusion, value retention, flexible and innovative scale, source of national pride.

As an SME (small and medium-sized enterprise) in Nigeria, it is important to keep accurate and up-to-date financial aid.

This includes maintaining a general ledger, income statement, balance sheet, and cash flow statement. It is also important to keep all invoices, receipts and other documents related to your business expenses. By keeping accurate and detailed financial records, you will be better equipped to demonstrate your business financial needs and qualifications for financial aid to potential lenders or investors.
For more accurate information on upcoming grants and donors visit www.enemconsulting.net or call 07034049285

Checklists helps in outsourcing specific tasks, it also helps to avoid mistakes.

These business processes makes your business appear more professional to your customers and you can access your figures easily and faster and track any discrepancies.

Sometimes we lose focus of the reason why we started business as a result of external and internal pressure, trends on social media and unsolicited advice from people.

A business plan helps you stay on course, it brings you back to the reason why you are in business.

It enables you keep the vision alive.
You need a business plan for your business visit www.enemconsulting.net or call 07034049385 to get you started.