I see possibilities instead of limitations - Biodun Shobanjo

Biodun ShobanjoAfter a rigorous search, Bank PHB, title sponsor of Apprentice Africa, which now runs on several Nigerian TV stations, as well as in various other African countries, settled for Abiodun Shobanjo as the business icon whose pedigree and panache fit the bill to perform the highly demanding role of CEO of the business reality TV show. In this interview with Lanre Oyetade, Group Business Editor, Shobanjo’s outward elegance comes across as reflective of his deep inner endearing personality that constantly seeks for only the best. Excerpts:

How were you selected as CEO of Apprentice Africa and what informed your decision to accept the challenge?
It was entirely a Bank PHB decision and I have not bothered to ask them the specific personality traits they would have seen, which would have informed their decision. But again, I believe it is not difficult to spot success, especially one that is hard earned. We live in an environment that glorifies wealth, no matter the means to the so-called affluence. For many Nigerian youths and even the older generation, the end justifies the means. We must discourage that.

And so it is important that the CEO of a show like the Apprentice should be one who in his entrepreneurial success is on a sufficiently high moral standing. I do not intend to assess myself but I believe this must have been an important criterion. And in terms of running and indeed growing businesses, with all sense of modesty, I am proud to say I have grown businesses from nothing to very reputable status. Now, why did I accept the challenge! It was a tough one for me initially. One thing you would find out if you have ever worked with me is that I do not engage in projects or any activity for that matter if I do not believe in it. So, I had to first convince myself that it was something I should do in the first place and again convince myself that I would ultimately add value to the Apprentice Africa. My decision to accept the challenge was informed by a number of considerations: One, I believe I have reached the stage in my life that I should begin to think of what I can bequeath to the younger generation. The Apprentice, for me represents that platform to educate young Africans on the skills they must possess to run successful businesses. Again, it is a platform that offers opportunity for practical knowledge as against the theoretical. As respective contesters get fired or escape being fired, people can easily relate with the experiences and draw necessary lessons.

Bank PHB is the title sponsor of Apprentice Africa, how much are they paying you as the CEO of Apprentice Africa?
Well, that issue has never come up. It was not a consideration for me. And quite frankly, Bank PHB has never even put it on the table as an issue to be discussed. Money, to me, is no longer a motivation that informs my actions. In fact, maybe I might have declined if money was ever offered. It is a project I believe in and by the grace of God, I am giving it my best shot.

Apart from the winner of the forthcoming Apprentice Africa who gets $200,000, are there plans to monitor the other contestants?
For now, that is actually outside my purview. Bank PHB, the title sponsor, has worked that out. As you know, this is not the first business reality TV show the bank would be initiating. Last year, I am told that after the Intern reality show, all the contestants were offered employment by the bank. This is quite commendable.

While I do not want to be the mouthpiece of Bank PHB, I can say to you that this is one institution that thoroughly thinks through its activities or projects before plunging into them. Everything is strategic and I have no doubt that there would be special strategy to ensure that the contestants do not necessarily derail.

Before now, when most people think of Apprentice, they think of Donald Trump who pioneered the show in the U.S. Have you ever met with Donald Trump?
Well, I have never met him. If you ask me, having watched a number of the seasons of The Apprentice, I would say he has done a remarkable job with the show. His messages are never lost on the viewers. But again, it is important that I quickly clarify that I am Biodun Shobanjo, CEO of Apprentice Africa. What you would see on the show is my interpretation of how a CEO should manage crucial challenges for optimal results, having successfully run businesses myself. It would be wrong to use Donald Trump as a benchmark in measuring the CEO of Apprentice Africa, because quite frankly we are two separate people with separate and unique circumstances. Having said that I must also state that the basic attributes needed to successfully run businesses are universal and to that extent, you would perhaps see similarities between the Apprentice Africa and Donald Trump’s Apprentice. It is just that this one is not an attempt to clone the other.

Who are you grooming to inherit your business empire?
I am already in what you can call semi-retirement. Troyka Holdings is really just an umbrella company. The individual companies are already being run by different professionals and I think I am largely satisfied. Unlike most Nigerian entrepreneurs, we have succeeded in reproducing enough persons that would and are indeed already taking over the mantle of leadership. I say this because leadership in itself accounts for little if it does not take care of the succession issue.

How do you relax?
I work out every morning to remain fit. When I find time, I play golf. I find time to relax a lot more now than in my younger days.

You are an inspiration to many young people who look up to you. How have you been able to overcome several challenges you must have faced in your path to being the success story you are today?
I have always said to young men and indeed the people I have had the opportunity to work with that, there is no alternative to hard work. All through my working life and as an entrepreneur, I have never believed in taking short cuts.

The only success that endures is that which comes from tenacious hard work. You see, I realised early enough that nothing good comes easy and I was ready to pay the price, which is hard work. Again, it is important to believe in yourself. Self-confidence is something that I see lacking in many of today’s young men. I don’t embark on projects that I do not believe in. I am my greatest critic. Once I have convinced myself about a project or course of action, I keep my eyes on the ball irrespective of the challenges that one must necessarily encounter. In my world impossibilities do not exist. Over the years, I must confess that this attitude has paid off.

What would you like to be remembered for?
…As one who saw possibilities instead of limitations.

Rising food prices spell hunger for millions across Africa

Odidison Omankhanlen, Lagos with Agency Reports

Robert Zoellick, President, World BankA global surge in food prices is causing havoc across the developing world, and thousands of poor people are caught in a widening arc of hunger stretching from Egypt to Cameroon , to Zimbabwe.

The numbers are stark. In one month, U.S. wheat export prices shot up from $375 to $425 per ton, and prices for Thai rice rose from $365 to $475 per ton. Both countries are major cereal exporters. According to the United Nations Food and Agriculture Organisation, of the 36 countries in the grip of a food security crisis, 21 are in Africa.

According to the latest report, “Rising Food Prices: Policy Options and World Bank Response,” increases in global wheat prices reached 181 per cent over the 36 months leading up to February 2008, and overall global food prices increased by 83 percent.

On average, poor people spend between 50 and 75 per cent of their income on food purchases.

“The major price shocks we are witnessing in the world’s poorer economies are hitting poor people the hardest,” said Obiageli Katryn Ezekwesili, World Bank Vice President for the Africa Region. “While the World Bank is committed to doing its part to help mitigate the crisis, reversing this worrisome trend will require concerted actions by governments and a broad range of partners.”

Price hikes in food have already sparked riots in several African capitals, rattling treasuries, and stoking unprecedented Malthusian scares. Complex set of causative factors is at work, the effects of which are bleaker than the theory voiced by Thomas R. Malthus, the famous 18 th century British economist who warned of the dangers of exploding population growth rates being out of sync with the capacity to produce food.

Oil, trading at $105 and more per barrel, is a major factor impacting a large part of the farm economy by increasing prices on the entire food production and distribution chain.

Equally problematic is the agriculture-led push toward biofuels where corn and sugarcane are being used to create ethanol, and oil crops are being used to create biodiesel.

The 2008 World Development Report “Agriculture for Development” provides a compelling example of the food-for-fuel debate: over 240 kilograms (or 528 pounds) of corn – enough to feed one person for a whole year – is required to produce the 26 gallons, or100 liters of ethanol needed to fill the gas tank of a modern sports utility vehicle.

In addition, withering drought has decimated harvests in major wheat-producing countries as far apart as Australia and Kazakhstan , crimping supplies, and creating scarcity. Furthermore, a legion of plant breeders, agronomists, and pathologists are concerned about when and where the next disease epidemic will strike, and threaten farm yields in the world’s major granaries. The Bill and Melinda Gates Foundation just announced a $25 million grant to Cornell University to fight stem rust, a deadly wheat disease.