• Tuesday, March 05, 2024
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BusinessDay

‘We are open to investors in banking, telecoms’

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Adebanjo Michael, CEO, ShelfMate Digital Incorporated, a business which uses technology to revive the reading culture speaks on his inspiration in this interview with OLUYINKA ALAWODE  

Business

The business aims to revive the reading culture of youths in Nigeria and Africa as a whole which in turn would increase the nation and continent’s world educational rating and success rate in examinations. We shall also provide digital technology in education through various media to help promote and grow the literacy rate and in turn develop the educational sector.

Inspiration

I started the business in 2014. I was inspired by some friends when we were working together on a similar project which did not work out due to differences and circumstances beyond our control.

Starting funds

I used my personal savings and funds in starting the business. To get the funds, I took up a part time teaching job to be more precise, I did home tutoring and I have been investing part of the money I get into starting and building the business. The business has not received any external support yet but we are hoping to get one very soon.

Unique Selling Point

We are integrating wonderful educational content ideas, that have been long overdue to take a center stage in Nigeria. These are appealing and needed by all. In this network we are building every user gets incentives based on the download rate from their profile. Users also get the opportunity of exploring the various opportunities from our network. Partners get massive demand and supply for their product(s). In this case, everyone is a winner.

Target audience

This includes internet users, who use mobile devices such as telephones PCs, etc. They can be students, teachers, parents and any other individual who may be a professional operating from a workplace or home.

Investors

We are open to investors and would appreciate a call for a round table talk to pitch the company and business to interested investors. Particularly, we need banks and telecommunication companies as partners.

Background

I studied biology education and I have worked with the administration of a reputable project management consulting company

Challenge

My main challenge is getting finance for more investment into some other core areas of the business. We have started sourcing for funds from organisations that give grants and/or invest in start-up businesses.

Staffing

No employee yet except obviously I, the founder but I am also working on a partnership with a company that runs something similar for the development of these other core areas of the business.

Business environment

The Nigeria business environment is intense but it is also a fertile land. Much work need to be done to get penetration into the market but there are so many opportunities open to all.

Government policies

There are already policies in place by the previous government. It is only expected of us to implore the current government to aid in proper implementation of these policies.