Author: Terser

  • 26th May, 2023
  • 2 min reading

Bolaji Sofoluwe, ETK’s Group Managing Director, spoke to CNBC Africa’s Aby Agina on Africa’s business environment on Africa Day. The full interview is included in this article.

Last week, the continent commemorated Africa Day 2023 on 25th May, and the 60th Anniversary of the Africa Union, allowing us at ETK Group to reflect on the tremendous strides Africa has made. As a firm believer in Africa’s potential and despite the challenges we face, we are thrilled to share our optimistic perspective on the Africa Continental Free Trade Agreement (AfCFTA) and the exciting opportunities it presents for our continent’s future.

Africa’s progress in advancing the AfCFTA is truly commendable. Drawing parallels with the formation of the European Economic Community, we recognise the efficiency and integration Africa has demonstrated. For example, in February 2023, the continent attained a significant milestone as three key protocols were ratified under the AfCFTA, covering intellectual property, competition, and investment facilitation. This monumental achievement brings together 54 previously fragmented countries, highlighting our commitment to fostering unity and collaboration. And while immediate benefits may not be visible to all, it is crucial to acknowledge the substantial progress made from a trade policy perspective.

The AfCFTA has the potential to boost Africa’s income by $450 billion by 2035, symbolizing significant growth opportunities. While it has been challenging to quantify informal intra-Africa trade flows, realizing this potential requires private sector-driven initiatives, policies effectively impacting businesses transaction by transaction, and entrepreneurs securing adequate financing for marketing and promotion.

As an active participant in promoting growth within African startups and working with entrepreneurs, ETK Group is particularly passionate about fostering intra-Africa trade. African businesses often face hurdles when marketing and promoting goods and services outside the continent due to associated costs. Comparing our marketing budgets to those of brands in countries like the UK, the Netherlands, or the US, we recognize the struggle African products encounter in sophisticated markets. However, by prioritizing intra-Africa trade, entrepreneurs can explore opportunities within the continent before venturing outside. Achieving horizontal and vertical growth across Africa will pave the way for genuine economic development.

Finally, while positive policy direction is essential, the ultimate responsibility lies with the people. Reflecting on the European Union’s success, we understand that it was the collective effort of activists, freedom fighters, parliamentarians, and politicians that paved the way for policies that benefited all. Similarly, we must all embrace and support these policies, enabling the trickle-down effects to materialize and witnessing the remarkable growth of our beloved continent. Undoubtedly, this is Africa’s decade, and ETK Group is thrilled to be part of this journey.

Together, let us seize this momentous opportunity, leverage the AfCFTA’s potential, and build a prosperous future for Africa.

  • 27th April, 2023
  • 3 min reading

Empowering Agribusiness & Development through Institutional Capacity Building: Insights from Michael Odeh, ETK Group’s PMO Lead in Nigeria

Institutional Capacity BuildingToday we speak to Michael Odeh, our Project Management Office (PMO) Lead based in Nigeria. Michael, who is an Agribusiness & Development Professional, tells us more about the progress we are making on the WOFAN and EYiA initiatives funded by the Mastercard Foundation and why Institutional Capacity Building is at the heart of the projects’ early successes.

Tell us more about the Integrated Community-led Network (ICON 2) project championed by the Women Farmers Advancement Network (WOFAN), and the Enterprise for Youth in Agriculture (EYiA), an effort of Soilless Farm Lab. What is the duration of the projects?

The Integrated Community-Led Network project (ICON-2) implemented by the Women Advancement Network (WOFAN) is a scale-up of the ICON of Hope project, which focused on COVID-19 recovery and resilience building for smallholder farmers to cope and thrive in the face of COVID-19 triggered shocks and stressors.

The ICON-2 project is a five-year initiative running from 2022–2027 that seeks to support 675,000 youths across nine states in Nigeria with access to improved livelihoods, and dignified and fulfilling employment opportunities in the agriculture sector.

The Enterprise for Youth in Agriculture (EYiA) is a project implemented by Eupepsia Place Ltd (also known as Soilless Lab). The project focuses on expanding economic opportunities for about 30,000 Nigerian youth (especially young women) using climate-smart, digitally-enabled technology-based systems.

The goal of EYiA is to promote all-year-round vegetable production using hydroponics technology on small parcels of land. The project will be implemented over a three-year period (2022-2025) in Awowo, Ogun State, at the Eupepsia Farm Facility. Produce from the initiative is anticipated to meet market demand for premium vegetables in the nearby urban and peri-urban cities of Lagos and Ogun State.

Both projects are funded by the MasterCard Foundation.

What role is ETK Group playing in the delivery of ICON 2 and EYiA?

ETK Group is one of the key project partners supporting both the ICON-2 and EYiA projects under the MasterCard Foundation’s Young Africa Works strategy. We are providing Project Management Office (PMO) support to ensure effective coordination and administration of the projects.

In particular, the ETK Group is providing Institutional Capacity Building and governance support to all the project partners in an effort to ensure smooth implementation, the achievement of project objectives, and the management of key risks.

As a leading consulting firm that specialises in supporting businesses seeking entry into the African market, ETK Group will also support WOFAN and EYiA with enterprise expansion systems for market development opportunities and services that will ensure the projects scale up and access international markets.

Why does Institutional Capacity Building matter for developing projects, especially in Africa?

Development institutions such as Civil Society Organisations (CSOs) and local Non-Governmental Organisations (NGOs) play a critical role in addressing some of the major world problems such as poverty, hunger, and disease, especially in Africa.

To effectively tackle these challenges, it is crucial to provide development organisations with the essential skills and support systems to improve their ability to meet the needs of communities and entire nations.

This is where Institutional Capacity Building (ICB) becomes vital. ICB enhances organisational capabilities to efficiently deliver the requirements of a development project in terms of impact, cost-effectiveness, and overall management.

ICB, therefore, is an essential ingredient in achieving sustainability and ensuring the community successfully owns the project. Further, a significant part of ICB considers human capital development and organisational structural system strengthening, thus enabling institutions to meet stringent donor expectations in the delivery of development projects.

With enhanced capacity, development organisations and funding partners can ensure that good intentions translate into real, measurable impact for the community.

How many farmers and processors have you onboarded for ICON 2, and how many students for EYiA? What is the target number for each project? What role has ICB played in ensuring you hit/exceed the targets?

The ICON-2 and EYiA projects’ target was to onboard 225,000 and 4,000 beneficiaries and partners, respectively, for the first year.

By the end of January and February 2023, respectively (the projects’ first quarter), a total of 239,875 farmers and processors had been onboarded, which was 6% above target.

Further, a total of 1,000 partners were integrated into the EYiA project in the same quarter. The EYiA initiative target is to register 1,000 students or partners per quarter, and recruitment for Quarter 2 is currently ongoing.

Robust deployment of ICB measures has ensured effective coordination with partners and periodic alignment on project targets. The PMO has been a key driver in ensuring project targets are achieved (or surpassed) within the period.

At the end of the projects, what impact do you foresee for both?

Both the ICON-2 and EYiA projects seek to increase food security and improve the livelihood of youth by creating sustainable and dignified employment opportunities, especially for women.

I envisage that more young people will be actively engaged in economic activities in the agricultural and allied sectors, with an ever-increasing number of these being women-owned micro and small-scale enterprises.

This should lead to a significant drop in youth unemployment and a drastic change in the economic landscape of the local communities where these projects are being implemented.

  • 25th April, 2023
  • 3 min reading

As a leading consulting firm that specialises in supporting businesses seeking entry into the African market, the ETK Group has established a strong reputation in the trade and development sectors. In addition, we have now expanded our services to include Institutional Capacity Building (ICB) for development projects in Africa.

At their core, development projects seek to transform communities and bring about positive change. Good intentions, however, are not enough to guarantee success. To make a lasting impact, it is necessary to focus on building institutional capacity in the organisations and communities involved in the project. This means building and fortifying the skills, knowledge, and resources to effectively plan, implement, and sustain the project over the long term.

From improving governance structures to strengthening financial management systems, building institutional capacity is a critical component of any development effort. In this article, we will explore the importance of institutional capacity building in development projects, and how it can help ensure that good intentions translate into real, measurable impact on the ground.

Billions of dollars are spent annually on financing development projects in developing countries. For example, in 2022, the African Development Bank’s Africa Investment Forum 2022 drew US$31 billion in investor interest to help unleash Africa’s investment potential in critical sectors. These include infrastructure, agriculture, energy, education, creative industries, sports, and transactions that champion women entrepreneurs. 

Within the same period, The European Bank for Reconstruction and Development delivered a record €13.1 billion (US $14 billion) in investments to its regions in 2022. The Mastercard Foundation is also investing US$ 200 million in its Young Africa Works strategy to ensure that by 2030, 30 million young people in Africa, especially young women, will secure employment they see as dignified and fulfilling. 

Effective execution and sustainability of development projects require expertise in managing human, infrastructure, and financial resources. Institutional Capacity Building (ICB) is the solution to this need.

But what exactly does ICB entail, and why is it so critical for the success of development projects?

ICB focuses on empowering institutions like governments, NGOs, and community-based organisations, to effectively plan, implement, and maintain development programmes and projects. It’s a critical component in ensuring long-lasting and impactful outcomes that benefit stakeholders in the community.

Last month, we were thrilled to announce that the Mastercard Foundation had appointed us to deliver Institutional Capacity Building (ICB) for the Integrated Community-led Network (ICON 2) project championed by the Women Farmers Advancement Network (WOFAN) and the Enterprise for Youth in Agriculture (EYiA), an effort of Soilless Farm Lab.

Institutional Capacity Building
Institutional Capacity Building ensures teams track progress against the objectives of the strategic plan. This element ensures that the organization is making progress against its goals.

Typically, our ICB framework consists of the following four key components:

  1. Assessment:  An ICB strategy starts with assessing and comprehensively evaluating an organisation’s current strengths and weaknesses. At this stage, an organisation’s priorities and goals for capacity building are also determined.
  2. Planning: This involves pulling together specific strategies, activities, and resources to address the gaps in the identified areas. The plan should be designed to meet the organisation’s unique needs and context.
  3. Implementation: This is the execution of the outlined activities. These may include training, mentoring, coaching, technical assistance, and other types of support to develop the necessary skills, knowledge, and systems for effective functioning.
  4. Monitoring and Evaluation:  This involves tracking progress against the objectives of the plan. This element ensures that the organisation is making progress towards its goals.

Without ICB, organisations may struggle to deliver successfully on the project, offer poor services, and fail to achieve their goals. As a result, these lead to a range of negative outcomes, including inefficient and ineffective operations, limited impact in the community, poor governance and accountability problems, and reduced sustainability.

WOFAN and EYiA programmes are backed by robust ICB plans. Our goal is to strengthen the capacity of women and youth farmers through climate-smart, digitally-enabled farming for the socio-economic benefit of beneficiaries and their families.

We are excited to be a part of these important initiatives and to work with other organisations dedicated to improving the lives of those in Africa’s agriculture sector.

Photo: A Soilless Farm Lab project beneficiary – Photo Credit: Soilless Farm Lab via their website.

  • 8th March, 2023
  • 3 min reading

At ETK Group, we join the world in recognising the efforts made by women in our company and across the globe for the betterment of business, community, and humanity.

This year’s IWD theme, DigitALL: Innovation and Technology for Gender Equality, is particularly exciting for the ETK Group.

The Mastercard Foundation recently appointed our firm as the project manager for two exciting agriculture initiatives in Nigeria. The Integrated Community-led Network (ICON 2) led by the Women Farmers Advancement Network (WOFAN), and the Enterprise for Youth in Agriculture (EYiA) – an effort of Soilless Farm Lab.

In both cases, the Mastercard Foundation, through its Young African Works strategy , seeks to strengthen the capacity of smallholder farmers through climate-smart, digitally enabled farming. Both projects focus on women and youth, reinforcing their critical role in agriculture. By improving crop yields and creating access to markets, beneficiaries of ICON 2 and EYiA programs can secure sustainable livelihoods for the benefit of their families, communities, and country.

While this is our maiden venture into project management for development initiatives, we are no strangers to building institutional capacity and governance. Since our inception in 2010, over 200 businesses worldwide have successfully launched in Africa, thanks to our unparalleled understanding of the continent.

We bring a private sector-oriented, commercially focused angle to project management and governance in the development sector. This approach recognises the importance of using sound business practises and principles in designing and implementing development projects.

The role of agriculture in Nigeria cannot be overstated. The Food and Agricultural Organisation (FAO) noted that between January and March 2021, the sector contributed 22.35% of the total gross domestic product. Over 70% of Nigerians engage in the agriculture sector, mainly at a subsistence level.

The Consultative Group on International Agricultural Research (CGIAR) estimates that 43% of the global agricultural labour force comprises women. In the least developed countries, two in three women earn a livelihood from farming.

In Nigeria, that 66% goes up to over 70%. The Civil Resource Development and Documentation Centre (CIRDDOC) reports that women smallholder farmers constitute 70–80% of the agricultural labour force at the subsistence level.

CIRDDOC adds, “Women produce the bulk of food for domestic consumption and are the drivers of food processing, marketing, and preservation. Despite this enormous task, they have limited access to land, credit facilities, farm input training and advice, technology, and crop insurance, among other things. Women small farm owners own only 14% of the land on which they farm.

The FAO further notes that, despite its contribution to the economy, Nigeria’s agricultural sector faces many challenges that impact its productivity. These include poor land tenure systems, low levels of irrigation farming, climate change, and land degradation. Other factors include low technology, high production costs and poor input distribution, limited financing, high post-harvest losses, and limited market access.

These challenges have resulted in women having lower yields than their male counterparts, limiting their ability to provide for their families and contribute to the national economy.

Unfortunately, even with the prevalence of digital technology on the continent, women are often excluded from accessing these tools due to social and cultural barriers, such as a lack of education and financial resources. This exclusion puts women at a significant disadvantage, limiting their ability to compete in the market, therefore negatively affecting their economic and social status.

However, the potential for women in agriculture in Nigeria is enormous. Women deeply understand the local ecosystem and play a critical role in ensuring that agricultural practices are sustainable and environmentally friendly. By empowering women and providing them with the necessary resources, they can become key players in the farming sector and drive economic growth in Nigeria.

Furthermore, technology has the potential to revolutionise agriculture in Nigeria by making it more efficient, productive, and sustainable. Women farmers can adopt intelligent agriculture solutions that leverage technology to help them optimise crop yields, reduce waste, and create proactive solutions to tackle climate change and assure food security.

At ETK Group, we believe this year’s IWD clarion call is a game-changer for women in the agricultural sector.

We can’t wait to see the possibilities digital technologies deployed in ICON 2 and EYiA will unlock in Nigeria on the road to achieving Sustainable Development Goal 2 (creating a world free of hunger by 2030).

Photo: A Soilless Farm Lab project beneficiary – Photo Credit: Soilless Farm Lab via their website.

  • 15th December, 2021
  • 7 min reading

Overview of tech investment opportunities in Africa

Technology is an important part of any country’s modernisation strategy; technology developments in health, communication, and economy benefit all nations. The most powerful countries in the world are also associated with technological breakthroughs, which emphasises the importance and influence that can be generated by developing a technologically integrated society.

As a result, there is a widespread misconception that Africa lags behind the rest of the world in technological breakthroughs; nevertheless, recent achievements are gradually dispelling this myth and significantly repositioning the continent in this regard.

Over the last decade, digital connectivity has rapidly spread across Africa. More than 300 million Africans acquired Internet connectivity between 2010 and 2019, with approximately 500 million more smartphone connections. According to the International Finance Corporation, the number of Internet users in Africa is predicted to increase by 11% over the next decade, accounting for 16% of the global total.

The number of mobile phone users has grown at an exponential rate, from 330,000 in 2001 to 30 million in 2013. It could be argued that the Internet is the first piece of technology to have had a substantial impact on Africa’s technological advancement.

In Africa, a 10% increase in mobile Internet coverage raises GDP per capita by 2.5 percent, against only 2% globally. Furthermore, a 10% rise in digitisation, or the conversion of information to a digital medium, increases GDP per capita in Africa by 1.9%, compared to 1% in non-OECD nations. More broadly, reaching 75% of the population with Internet access could result in the creation of 44 million jobs. It’s safe to claim that the mobile technology industry is a significant economic driver and has resulted in increased trade and investment opportunities in Africa.

In Sub-Saharan Africa, mobile technology and services accounted for 8.6% of total GDP in 2018, a contribution that amounted to over $144 billion of economic value added. In addition, the mobile sector supported approximately 3.5 million jobs, generating an extra $15.6 billion in taxes. As a result of increasing connectivity, businesses and communities have been able to leapfrog societal challenges and weak infrastructure through the use of new technology, which has paved the way for economic progress.

by the end of 2019, Sub-Saharan Africa had approximately 144 mobile money providers, servicing over 469 million registered accounts with $1.25 billion in daily transactions, compared to 298 million registered accounts for traditional bank accounts in 2017. Mobile devices are now the accepted medium to connecting to the Internet, and to carry out financial transactions in Africa.

investment opportunities in Africa

Internet’s contribution to GDP in Africa

Fintech, healthtech, media and entertainment, e-mobility and food delivery, and B2B e-Logistics are just a few of the emerging verticals in Africa that are fuelling innovation. Over the last decade, Africa’s Internet gross domestic product (iGDP) – defined as the Internet’s contribution to GDP — has rapidly increased. In 2012, less than a decade ago, the Internet economy in Africa was estimated to be around 1.1% of GDP, or $30 billion. According to Accenture, iGDP might add $115 billion to Africa’s 2.554 trillion GDP (4.5%) in 2020, up from $99.7 billion in 2019, with the potential to rise as economies develop. By comparison, the Internet sector contributed 9% of GDP in industrialised economies like the United States in 2018.

The Internet economy has the potential to add $180 billion to Africa’s GDP by 2025, rising to $712 billion by 2050. Over the next five years, COVID-19 is expected to limit economic growth in Africa and the rest of the world. Despite the pandemic, Africa’s growth will be driven by the Internet economy’s resilience, private consumption, developer skill, public and private investment, digital infrastructure investments, and new government laws and regulations.

Investments did pick up, and from July, VC funding on the continent had a bullish run until December. Despite the fact that 2020 did not see the same level of megadeals as 2019, and did not surpass the $2 billion barrier, it proved to be a successful year for acquisitions. High-profile instances include WorldRemit’s $500 million purchase of Sendwave, Network International’s $288 million purchase of DPO Group, and Stripe’s more than $200 million purchase of Paystack.

Sector analysis of Africa’s Internet economy Sector

Fintech has evolved into a major driving force in the African Internet economy, directly contributing to GDP growth while also enabling a variety of other industries. Fintech startups continue to be Africa’s most funded sector, with a significant year-on-year increase. The vertical received $836 million in investment across 65 deals in 2019, up from $379 million in 2018 across 42 deals, resulting in a 120% increase in funding and a 55% increase in deal volume year over year (YoY).

Fintech startups have remained the most popular destination for tech investment opportunities in Africa, growing at a CAGR of 24% over the last decade and accounting for 54% of all Africa startup funding in 2019. The fintech sector in Africa is expanding in part to serve the unbanked and financially excluded population. However, the rise of these solutions and increased access to mobile technologies is driving demand and growth in this sector. The opportunities arising from vertical expansion beyond traditional banking services are also a contributing factor.

Surprisingly, despite the Covid pandemic, Africa’s venture capital ecosystem has been steadily growing in recent years, with an influx of funding from local and international investors reaching previously unheard-of levels. According to Africa-focused firm Partech Africa, African entrepreneurs raised a modest $400 million in 2015, compared to the $2 billion invested in the continent in 2019.

These figures were expected to rise in 2020, but with the pandemic sparking an economic downturn, businesses were forced to downsize as investors re-strategized, which slowed down activities during the first few months of the year.

However, in an unexpected turn of events, investments began to increase, and VC funding on the continent began a bullish trend that lasted until December 2020. Despite the fact that 2020 did not witness the same flurry of megadeals as 2019, and did not break the $2 billion barrier, it was a good year for acquisitions. The $500 million purchase of Sendwave by WorldRemit, the $288 million purchase of DPO Group by Network International, and the more than $200 million purchase of Paystack by Stripe were all high-profile acquisitions.

tech investment opportunities in Africa

Four key factors that are having a positive impact on technological investments in Africa:

  • A rapidly rising urban and mobile population is driving digital consumption growth

The African economy benefits greatly from a growing urban and mobile population. Internet penetration is currently at 40%, and a 10% increase in mobile Internet penetration can boost GDP per capita in Africa by 2.5 percent, compared to 2% globally. Increasing Internet penetration to 75% could result in the creation of 44 million new jobs.

  • The tech sector is driven by a thriving developer and startup scene

Africa’s tech talent is at an all-time high, and it will only get better. There are approximately 690,000 professional developers in Africa, with more than half concentrated in just five countries: Egypt, Kenya, Morocco, Nigeria, and South Africa. Despite the challenges that the African startup ecosystem faces, the future appears bright as venture capital continues to pour into the continent.

  • Internet infrastructure investments are further boosting connectivity

More people will be able to enjoy cheaper and faster Internet access as infrastructure continues to improve. Subsea and terrestrial fibre-optic infrastructure investments have fueled the rapid expansion of global Internet capacity. For example, Equiano, Google’s own undersea cable, is set to be finished in 2022.

  • Pro-innovator regulation can benefit the African Internet economy

Inconsistencies in regulatory requirements make it difficult for businesses to gain market access and raise capital. Initiatives such as startup acts and regional harmonisation are examples of progressive initiatives that are promoting mutually beneficial growth. Entrepreneurs, investors, and policymakers must continue to communicate in order to foster enabling environments conducive to the growth of digital firms.

Development opportunities

Africa can take advantage of the Internet economy to help informal businesses and workers overcome challenges. For example, businesses in Africa’s informal sector have limited access to finance and quite often do not make use of modern business practises, particularly in bookkeeping and accounting. As a result, they often incur higher costs when interacting with suppliers or clients due to insufficient logistics, a plethora of middlemen, and the prevalence of cash transactions. Furthermore, access to electricity is less certain in the informal sector, particularly in rural areas, creating an overall unpredictable economic environment.

Despite this, the vast majority of workers in the informal sector own a mobile phone, often used for both private and business purposes. Mobile phone ownership in the informal sector is broadly correlated with access to digital connectivity at the national level.

COVID-19 pandemic highlighted how digital platforms that service the informal sector can support societal resilience. Because of their ability to quickly reengineer their platforms, digital platforms were critical in supporting government responses to the outbreak in several markets, particularly in reaching the underserved. This further emphasises the importance of technology in supporting Africa’s economic growth and stability.

The most significant development opportunity lies within Africa’s significant population growth and demographic transition, which is driving, increased consumption. As they mature into household decision-makers, young African consumers are becoming more rich and globalised. The proportion of the population that is of working age will continue to rise; by 2050, Africa will have the lowest dependency ratio in the world.

As a result, the continent’s competitiveness in both skilled and unskilled labour will improve, resulting in greater consumer purchasing power. By 2030, Africa is expected to have more than 1.7 billion consumers, with the ability to spend a whopping $2.5 trillion.

tech investment opportunities in Africa

What does the future hold?

Year after year, African technology startups continue to raise record-breaking sums of money. While actual investment numbers vary, estimations show that investment opportunities in Africa’s digital sector have increased year after year for the past five years. The attraction and reputation of Africa as a venture capital investment destination is growing, attracting investors ready to take some early risks based on the continents attractive opportunities and long-term economic potential.

This expansion is being largely driven by the increased ease of doing business, improved business environments, and the world’s youngest and fastest-growing labour force. Improved government policies that encourage greater cooperation across the continent and across various sectors of the economy have given investors even more reason to be optimistic.

Not to mention the implementation of the African Continental Free Trade Area (AfCFTA), which will bring together a market of 1.3 billion people with a combined GDP of $2.6 trillion. AfCFTA aims to reduce tariffs on 90% of all goods and promote free movement of goods, services, capital, and people throughout Africa. It will make Africa’s regional economic communities more integrated and accessible, making it easier to do business across the continent.

Despite this progress, investment in Africa remains in its early stages when compared to other emerging global trading blocs such as Southeast Asia. This indicates that there are still untapped technology investment opportunities in Africa, but this will require governments to become more investor-friendly to achieve continued and consistent investment growth.

In conclusion, despite the pandemic and other challenges facing the African continent, trade and investment opportunities in Africa continue to thrive, and the future of Africa looks bright with continued investment in technology and progressive policy initiatives such as the AfCFTA.

  • 20th August, 2021
  • < 1 min reading

Client Overview

Our client is a 100-year-old, £180M turnover company that applies the best of engineering and technology to help solve complex challenges. They do this for clients in a wide range of disciplines and sectors, both in the UK and around the world.

Today, they’re pushing established boundaries – searching for new, exciting and sustainable ways to solve the engineering challenges of the modern world.


Summary of Requested Service(s)

The client approached us for one of our market entry services to enter the Nigerian market. The Nigeria market entry involved ETK supporting them in setting up a subsidiary in Nigeria, registration of company, identifying office space, application for Tax Registration, opening a company bank account, marketing and market entry strategy.


Service Execution/Results

ETK commenced the Nigeria market entry service by supporting them in setting up a subsidiary in Nigeria. ETK engaged with local lawyers to provide legal advice before, during and after successfully setting up the company in Nigeria. We used an experienced accountant to advise on incorporation, business tax, payroll, VAT and repatriation of profits. Sourced suitable and secure office premises, implemented their office set up and worked on their marketing and market entry strategy, providing much needed market intelligence and partner identification. Created a launch plan and timetable to monitor and review progress, which has helped them hit the ground running.

ETK is currently working on growing the clients operations and brand across Africa and is proud to have been involved in the establishment of the subsidiary.

  • 12th July, 2021
  • < 1 min reading

ETK Group is extremely happy to announce that we have become members of The British Exporters Association (BExA), which is an independent national trade association representing the interests of the export community and exists as a lobbying, promoting, educating and networking organisation for UK exporters and associated services providers.

BEXA was established in 1940 as the National General Export Merchants Group, it became the British Export Houses Association and then in 1988 adopted the name of British Exporters Association when it recruited manufacturing companies as members.

Who is BExA?

BExA is a not-for-profit and non-party political organisation that’s led by its members, for its members.   Its membership is drawn from a wide cross-section of organisations within the exporting community, including large corporates, MSBs, SMEs and micro-exporters and their bank, credit insurance, legal and other service providers.  BExA seeks to promote the interests of its members and all UK exporters, with a particular focus on trade finance and export credit insurance.

What does BExA do?

BExA is a valued contributor to, and is engaged with, many Government departments and committees to drive export policy forward.  These include the Department for International Trade, UK Export Finance, the Foreign, Commonwealth & Development Office, and Houses of Parliament Select Committees.

First published in 2010, BExA also authors an UK Export Finance Benchmarking Paper which compares the performance of the UK’s export credit agency against others around the world. It has become the go-to guide to measure UK Export Finance’s product range, activities and quality of support to ensure that no viable UK export fails for lack of finance or insurance.

Click HERE to read more about BExA

  • 1st July, 2021
  • < 1 min reading

ETK Group are extremely proud and excited to announce that our Managing Director Bolaji Sofoluwe will be joining the oNetwork at the Entrepreneurship Centre at Saïd Business School, University of Oxford as an Entrepreneurship Expert.

Bolaji will be introducing fundamental and innovative concepts on globalisation and international trade, as a core component of entrepreneurship and business development. This is an amazing achievement for an outstanding person and professional.

The oNetwork announced the fabulous news this month as they welcome 17 new members to the oNetwork, which sees their community of experts reach gender parity and echoes the Centre’s commitment to building diverse communities and ensuring that they connect the best and brightest minds to the students and alumni that they serve.

Sorina Campean, Stakeholder Engagement Lead for the Entrepreneurship Centre and curator of the oNetwork, says, ‘Making space for diverse voices, and women in particular always translates into more creative ideas and solutions. The benefits of advancing women entrepreneurs and innovators are substantial. Experts estimate that closing the entrepreneurial gender gap could boost the global economy by up to $5 trillion. This is more important than ever now, as economies around the world strive to recover from the challenges posed by the pandemic. Therefore, as I am transitioning out of my role with the Entrepreneurship Centre, I am extremely proud to leave behind a truly gender-balanced community, which I know will continue to work hard alongside our staff, students and alumni to help advance the School’s entrepreneurial ambitions.’

Please click HERE to find out more.