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| Mr. Segun Akintemi of Renaissance Credit and Mr. Ade Adeolu of Standard Chartered London during the panel session of YALDA 2012 |
Innovation is working at a boundary line, identifying and
working on an idea. Africa is abound of ideas but lack of financial service in
most African Countries has posed as a major challenge to many entrepreneurs
from implementing their ideas.
According to Mr. Segun Akintemi of Renaissance Credit during
the “Financial Services Ideas” section of Youth Alliance for Leadership and Development
in Africa (YALDA) 2012 CONFERENCE, Financial Service is a Vehicle to make your
ideas get done. This is the ability to see opportunities and grab them.
Akintemi said that if Africans can package their ideas, they will get sponsor. More
so, entrepreneurs must be market wise that is knowing the type of market you
are investing in. The Participants were made to know that financial intelligence
is acquired through practice which is done by knowing and studying your
immediate environment.
Furthermore, another facilitator at the session Mr. Ade
Adeolu, of Standard Chartered London said to be innovative, you must either be the
first mover or a first copier with a unique strategy in a competitive market. You
must understand the next intellectual point, the shift in parameters of a
product as it is hardly impossible for a bank to give you a loan because of forecasted
Intellectual Ability. He advised participants to know when to scale and how to
scale their business ideas.
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