Comfort Avunze Sakoma

Abuja, Nigeria

CEO, Poize Capital Global & Lead Advisor, Poize Insider Network

“We need to glorify the struggle and the hustle of entrepreneurship and not only the rewards.”

What is the Poize Insider Network?

To boost the competitiveness of the Nigerian economy, I launched the Poize Insider Network in 2016 through which I provide Business Development Support for more than 200 women-owned businesses, helping them to leverage technology, develop effective brand strategies, pursue global partnerships, and expand their trade capacity. The network has trained 2,100 female business owners in Nigeria since March 2016.

What is it like to be a female entrepreneur today in your country/region?

Women are constantly finding themselves in positions where they have to work significantly harder to ascertain their credit, business, and social worthiness. Nepotism is also a big problem. It’s not uncommon for the most qualified person for the job to be overlooked in favor of a close ally. This discourages some women from competing and stalls their growth.

Conversely, Nigeria is paradoxically the absolute best country on Earth in which to be a female entrepreneur. Our public and private sectors, and international non-profits have really rallied behind us to propel us forward through access to information and funding. Many funding programs over the years have been aimed at women, with unprecedented amounts of support available to those willing to search.

What is the future of female entrepreneurship in your country/region?

The future of female entrepreneurship in Nigeria can be strengthened if we can engage in self-reflection and tough conversation. We need to challenge the notion that most successful women get to the top through questionable means by glorifying the struggle and the hustle of entrepreneurship and not only it’s rewards. We need to spend less time at roundtables discussing the lack of access to finance and instead discuss the hard truth that many of our businesses aren’t bankable because they often lack a brand, presence, and /or records: financial and otherwise. We need to tackle our fear of technology and embrace the internet not only for social media and email but for research and collaboration. We need to get off the ‘title high’ and learn how to synergize so that we’re not a community of CEO’s of Zero. We need fewer speaker presentations and more mentors who are willing to swing open doors, make introductions, give a startup a free desk to work on for six months.

The future of female entrepreneurship can also be strengthened by women taking more seriously the process of politics. My best friend’s father said to me once, “If you don’t do politics, politics will do you.” We need to organize as an electorate, raise money for women to run for office, and once there, we need to give her the support and incentive to speak up against anything that threatens our business environment or our fundamental human rights. We need to apply for every grant, every training, every waiver, and when we’re denied- we must be willing to ask why, to learn from that, and come back stronger. Our collective future, as Nigerian female entrepreneurs, is only as strong as our resolve.

Is there anything unique you think women can bring to the business, tech or startup world’s (either globally or in your country)?

Since women are more likely to operate social enterprises (businesses that do well and do good) we have the power to redefine capitalism and return the focus to people and environment; two things we can’t thrive without. This powerful combination provides the greatest benefits to nations as they industrialize and grow because it takes care of its two most precious resources.

In Nigeria, and certainly in places around the world, we’re proving that you can run a profitable company that makes its shareholders happy, while simultaneously lifting up the people and communities around you.