In Conversation With Joseph Nwadukwe - Part 2

31 January 2018 | Business, Project Owners

I was introduced to Wems Agro in Ondo state three years ago, when they were first looking to raise capital for their rice project. It happened to be right on the cusp of the election.

Elections anywhere on the continent mean one thing and one thing only, civil servants sitting on their hands - no permits, licenses, certificates, MoU's etc will be approved much less issued. Even if they are, there is too much risk of them been revoked by the incoming government who'd prefer to put their stamp on things. Despite this, Wems managed to get approved for a government rice program, which meant they could hold off on the immediate need for another funding source. Since then, they've successfully established a pilot project.

In Part 2, Joseph emphasises the need for having skin in the game, government guarantees and local high net worth's supporting local entrepreneurs.

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