University of Nairobi students challenged to venture into technology businesses.

University of Nairobi students have been challenged to venture into technology businesses because they have less competition and to be very courageous to succeed in business. This was the message from one of Nigerians leading businessmen, Hakeem Belo-Osegie.

Speaking during a public lecture on June 24, 2019 at the University of Nairobi Towers, Belo-Osagie, urged students to be very courageous in their business pursuits. “You can write well, speak well, dress well but you need lots of courage to succeed in business,” he said. He spoke at length of his academic and 30 year entrepreneurial journey that saw him establish several businesses in the petroleum, finance and energy sectors.

“I set up my first business consulting in the petroleum sector. Most business people didn’t know how to approach government and based on my experience working in the office of the President, I knew all the government bureaucracies. I succeeded working majorly with Japanese companies. One thing I learnt is that opportunities can come from where you least expect,” he said. Belo-Osajie then set up a finance business which collapsed. He learnt to bounce back immediately from failure. He indeed bounced back and bought United Bank of Africa, UBA Bank which he later sold at 12 times the buying price and made profits.

Hakeen Belo-Osajie recounts the lessons he has been able to learn from doing business for over three decades and one of the major lesson that stands out is this: It is difficult to have a single plan, you have to be very adaptable, opportunities can come from any sector: ICT, agriculture, oil and gas, energy among other sectors, be ready to adapt. “It is not important to be highly intelligent to succeed in business, you just need to be bright and to be very resilient. Resilience helps you bounce back from failures. The other thing I have learnt is teamwork. Bring people together from diverse backgrounds.   Lastly, I want to urge you to be very courageous. Have courage and your business will succeed,” he said.

Aden Mohammed, the Cabinet Secretary, Ministry of East African Community and Regional Development urged students to take in the lessons from one of Africa’s wealthiest sons and apply the lessons in their business startups as they work and aspire to be become rich.

University of Nairobi Vice Chancellor, Prof. Peter Mbithi, observed that the University values academic discourses such as public lectures that enable students to interact with thought leaders.  “Entrepreneurship is crucial to the growth of the economy as it enables young people to start businesses and grow the economy,” he said.   The Vice Chancellor was represented by Prof. Julius Ogeng’o, the Deputy Vice Chancellor, Academic Affairs.

Expiry Date: 
Thu, 2020-11-26 (All day)