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Sijibomi Ogundele: Redefining Luxury, Placing Nigeria on the world map @ 40

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SUJIMOTO

 

 

Seasons pass but billionaire luxury real estate mogul, Sijibomi Ogundele, the M.D and C.E.O of Sujimoto Construction Company, remains grand, like the nurturant guardian whose tenderness and warmth blesses the land. Following the description made by Late American Rapper 2pac Shakur in his poem titled; “The Rose That Grew from Concrete”, Ogundele is a rose that grew from Agege; a suburb part of Lagos.

 

He is indeed a treasured rose who built a multi-billion Naira property empire currently changing the face of luxury real estate in Nigeria. No doubt, Mr. Luxury as he is fondly called has blossomed into a man of affluence, style, class and integrity. He looms large across generations into eternity. The story of his exquisite manhood resonates with a pleasant peal. To his staff, family, friends, beneficiaries and other loved ones, his smiles have been their anchor, his shoulders their rampart of comfort to lean.

 

 

Unlike the fabled explorer, Christopher Columbus, who didn’t have a business plan when he discovered America, Sujimoto had a well-thought plan when he founded his luxury real estate dynasty Sujimoto Construction Company over 5 years ago. He proved that he was no rookie in the cut-throat world of business in the country’s real estate sector. When himself into the luxury real estate industry, he came with beyond-the-ordinary ideas, aiming at shattering the stereotype to be the shining light that would redefine the skylines of Nigeria with an audacious architectural masterpiece project that will compete with the rest of the world. Providence granted his heart desires as he was able to prove naysayers wrong with his incredible list of completed and ongoing projects littered across the country. At a point, like the title of Dr. Tai Solarin’s New Year message in 1964; ‘May Your Road Be Rough’; His road was indeed rough. Engaging the spirit of tenacity, not giving up on mediocrity and passion he was able to navigate through the murky waters of business typhoons directed to sink him. 

 

He is a skilled survivalist; for instance, just when many have written him off on the strength of his brush when Nigeria entered recession and his LorenzoBySujimoto project could not continue. He had to refund over 450Million Naira to off-takers. At this point, doubting Thomas’ thought it was the end of his business career. But with the heart of Hercules and the fearlessness of Achilles, he was able to rise above his travails, re-strategize and reconfigured his dreams and gave it another shot. This time around he was able to succeed despite all odds against him. Being a witness to the Sujimoto boss’ exploits is quite inspirational and replete with interesting anecdotes to ambitious young men and women seeking his kind of entrepreneurial success and acclaim.

 

As the young billionaire luxury property mogul sauntered into Age 40 yesterday the 8th of April, many leaders and entrepreneurs across the world sent their goodwill message to share in his pot full of joy. The Billionaire who learned the rudiment of business from his mother would be entrenching a culture of success and acclaim that has been the inspiration for generations of aspiring entrepreneurs and Nigeria’s nouveau riche. For the Law graduate from Anglia Ruskin University, England, there are many things he has envisaged to have achieved before entering the age of 40. Unlike his peers who are still struggling to find their feet in business, Sujimoto has redefined Banana Island; the wealthiest residential neighborhood in Nigeria with amazing projects like: GiulianoBySujimoto, LucreziaBySujimoto, LeonardoBy Sujimoto all in Banana Island. The S-Hotel Ikoyi and QueenAminaBySujimoto currently taking off in Abuja.

 

To mark his 40th birthday, sources said; the Motomatics theory originator is not relenting in his oars, most especially until Nigeria finally takes a new look at the European medieval, renaissance and modern luxury designs making it a tourist attraction and a point of reference as the giant of Africa. “Sujimoto is taking his trade out of Nigeria with his newest idea, a 44 storey building Sujimoto tower to be erected on 6,500 Psm land in the corner of Dubai downtown. The 44-floor edifice will conveniently boast of ultra-luxury residences, hotel suites and top-notch retail. Hotel franchise Fourseasons and Bacarrat will likely come on board. Other Luxury retails like Graff Private, Pateck Phillip, Vacheron, Costatine, Vertu and many other ultra-luxury retail brands. Top restaurants like Cipriani, Nusret and many others. The Sujimoto tower will be the first African tower in the middle of Dubai. He will also be the first African to build a tower in the Middle East.”

 

 

Business

Half-Year Performance: Transcorp Plc Shows Powerful Growth as Profit Leaps by 713%

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Transcorp Hotels

Transnational Corporation of Nigeria Plc (Transcorp) has released its unaudited results for the half-year ended June 2021, recording significant improvement across its major income lines.

The Conglomerate with strategic investments in the Power, Hospitality, and Energy sectors, recorded a profit after tax of N6.5bn, rising by 713% up from N0.8bn recorded in June of the previous year. Other key highlights of the result include the following:

  • Revenue rose by 53%, from N35.0bn in June 2020 to N53.3bn in the period under consideration.
  • Gross profit grew by 60%, from N14.7bn in June 2020 to N23.5bn in June 2021.
  • Profit before tax rose by 689% from N0.9bn in June 2020 to N7.1b in June 2021.

Commenting on the performance, Transcorp’s President/Group CEO, Mrs. Owen Omogiafo, reiterated the Conglomerate’s commitment towards producing long-term value and sustainable impact. “We are pleased to see the sustained growth in our group performance, which was achieved as a result of the improved performance across all the sectors we operate in. The revenue achieved in our power business grew by 48%, as a result of improved gas supply and increased generation capacity”, she stated.

Commenting on the hospitality sector, Omogiafo stated that the company’s strategic actions have resulted in a growth in revenue of up to 84%, despite the ongoing impact of the COVID-19 epidemic on the Nigerian and global hospitality industries. She expressed confidence in the company’s recovery strategies, citing the recent official launch of Aura, the company’s digital hospitality platform, as a testament to that confidence.

On the Group’s capacity to sustain its performance, Omogiafo said, “We do not plan to rest on our oars. We will continue to sweat our existing assets and explore new frontiers, as we continue to deliver on our purpose of Improving Lives and Transforming Nigeria.”

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Opinion

Rethinking safe-haven assets and building resilient portfolios with Xend Finance

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As with most things in life, feeling overwhelmed as a newbie is simple, and this is especially true in such a volatile market as the world of cryptocurrencies. Regardless of the uncertainty and worries, the world of cryptocurrency has the potential to have a unique and substantial impact on anyone’s financial stability.

Government Bonds, treasury bills, and other forms of fixed income investments are undeniably considered as safe haven investments due to their low risk, but with inflation on the increase, the question arises how safe is money locked up for a specific period of time?

It is therefore important to build a resilient portfolio able to minimize risks and mitigate volatility, diversity into multiple unrelated investments, deliver steady returns and also able to recognize changing market conditions, new opportunities and respond accordingly.
Enter the world of Stablecoins. A less volatile cryptocurrency asset pegged to a cryptocurrency, fiat money, or to exchange-traded commodities (such as precious metals or industrial metals).

Compare to other forms of cryptocurrency assets like bitcoin, or altcoins the advantages of stablecoins are stabilized by assets that fluctuate outside of the cryptocurrency space that is prices are pinned to real-world assets.
Most stablecoins are pegged to the US Dollar as they are an easy way to get exposure to the crypto space without having to worry about volatility.

You can build a resilient portfolio with stable coins by having a good foundation on which you can build and protect your investment portfolio. This is necessary to provide a buffer when the markets are volatile or things go south.

These stablecoins also provide diversification as Investor Phillips Hodges mentioned in an interview emphasized the importance of balancing factors affecting the returns you can get across the different than the classes themselves. Stable coins also provide the extra diversification a portfolio needs to stay afloat in a stormy market, minimize losses due to their low volatility.

Be rest assured as an investor that your portfolio can only said to be strong when you have investments that can stand the test of time. Inflations and rickety market conditions.
If you’re a fund manager looking to get exposure to the crypto space through stable coins, send an email to [email protected] and someone would be in touch with you.

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Market formation framework, driver to optimally develop solid mineral sector- Ifie Sekibo 

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Ifie Sekibo

MD/CEO of Heritage Bank Plc, Ifie Sekibo has said that the market formation framework is the key to optimally exploit Nigeria’s precious metal and solid minerals endowments. He disclosed this during a webinar organized by the Securities and Exchange Commission (SEC) in collaboration with the Federal Ministry of Mines and Steel Development with the theme, “Financing the Solid Minerals Sector through the Capital Market and the Critical Role of Commodity Exchanges.”  

Sekibo explained that a fully established market formation process that would lead to having a Corporation as an integrated solid mineral institution like NNPC which allows the collateralization of assets those banks can rely on for alternative funding options.

According to him, this will guarantee other creative ways of raising funds for financing commercial activities relating to solid minerals and viable projects along its value chain.

Sekibo who was represented by the Divisional Head, Strategy and Business Solutions, of the Bank, Olusegun Akanji, said for the sector to be viable, it requires lots of converged government interventions because for any development focused sector to kick-off around the world, it needs government intervention to lay the foundation for the private sector and funders to step-in and pool their resources.

“Once, we can collateralize these assets, whether they are under the ground or being determined, you use different instruments to bring liquidity into them. Then investors will follow up once we have established there is enough they can explore.” the MD stated.

He further suggested that finance sector regulators need to expand their Prudential Guidelines to accommodate the instruments such that precious metal-backed or solid minerals-backed assets could qualify as part of the computation of liquidity ratios.

“Once banks start injecting their resources, customers would certainly follow that trend. You can start arranging for sophisticated solutions like bonds, bullion-backed assets and pension notes. Again, banks will have to be poised to hold the funding that comes from this sector; that way, they can open new transactional frontiers either locally or internationally.

“At the base of this, are the issues of pricing and integrity of the market. Once banks play in that sector and we have a government institution like the NNPC type to hold all this documentation, it would be very easy to establish price discovery on an ongoing basis. This will in turn attract international funders, hedge funds and retail investors. Today, we have retail bonds in the same way; we can have gold-backed or any of the solid mineral assets where retail investors can put in the funds,” Sekibo explained.

Meanwhile, it would be recalled that Heritage Bank Plc has said its involvement in the private sector collaboration with Dukia Gold & Precious Metals Refining Co. Limited is set to unlock the over N344 trillion market worth of gold investible instruments in the solid minerals sector.

However, he reiterated that a consistent packaged framework, which could only be held by an established government institution, as part of the layers of the framework, would help to tackle major challenges in trying to support Dukia Gold’s clients.

“With a consistent packaged framework, it will be easier for Dukia Gold and help in less spending. If Dukia Gold should speak of their challenges, they will speak about tonnes of documents they have to produce. But with a unified source of documentation, it makes the process easier and improves cost management. These are some of the challenges we have experienced in trying to support a few clients we worked with,” Sekibo stated.

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