by SNGZ | Jul 8, 2014 | Events, News
Doing Business in Nigeria requires a good knowledge of the local culture and business practices. This know-how knowledge is one of the basic conditions for a successful business transaction in Nigeria.
The 1st July, Business breakfast event held at the Slovenia Chamber of Commerce and Industry Slovenia highlighted Nigeria’s cultural etiquettes and its role when considering Nigeria in your go international projects.
The seminar started with a welcome address by;
Aleš Cantarutti, Director, International Relations Department Chamber of Commerce and Industry of Slovenia
Fred Uduma, President, Slovenian-Nigerian Chamber of Commerce
Preliminary facts were stressed out by all the speakers. Mr Tony Ayavoro, legal adviser of RenePort Ltd. On this occasion presented some important information about Nigeria, which consists of over 300 ethnic groups and a population of well over 178 million people. Comparing Slovenia and Nigeria business culture on time management, Mr Ayavoro said, In Slovenia, time is important and punctuality is a virtue. In Nigeria, time is flexible and people come before time. When a person is too conscious of time he can be viewed with suspicion and in some cases, do not expect meetings to start on time. In his presentation, he further exposed little facts to be mindful of; Developing good, long-term relationships in Nigeria are vital to business success. Long term vision and commitment and Likeable, friendly & genuine people are likely to succeed. Nigerians expect flexibility when working out the business details. Patience is critical to build long term rapport and Constant attention, adaptability & flexibility are required. He further stressed that Nigerians are very good negotiators so one must be prepared to compromise. Sending the right team, titles and age can influence perceptions in the negotiation.
The first step in entering the Nigerian market is a thorough investigation of the sector and verifying potential partners. In doing so, companies can turn to the Slovenian-Nigerian Chamber of Commerce, Embassy of Nigeria in Budapest or Slovenian Chamber of Commerce and Industry. Prior to the conclusion of the transaction, it is necessary to establish a good, long-term oriented relationships and partners to present a long-term vision and commitment. Positive attitude and condescension play a key role. Business requires a lot of attention, as well as adaptation and compromise. Always offer Handshake with the right hand, don’t receive or pass with the left hand.
Mr James Behan, director of RenePort Ltd who has many years of experience doing business with Nigeria In this presentation linked culture directly with business, providing experiences, practical knowledge and live examples of how culture can influence business strategy in Nigeria. He said his first impression due to unfamiliarity with the local business culture, was rather negative. Nigerians are ruthless negotiators, but they can also be very impatient when acting as principal. He further advised that in demand and supply, it is necessary to clearly define and agree on the details before transaction.
In formulating marketing strategies it is necessary to take into account local cultural characteristics, prior to this, thoroughly researched the market. Mr Behan mentioned four ways to enter the Nigerian market; Distribution, Joint Venture, Merger or Acquisition and Greenfield strategy. The most common approach is to use agents.
Fred Uduma, President of the Slovenian – Nigerian Chamber of Commerce, stressed on the fact that culture plays a key role or to a high degree influences the attitude, perception and decision making process of individuals or companies seeking to do business in Nigeria. Mr Uduma said, understanding the business culture of Nigeria that today’s event offer will certainly guide you in establishing a good working relationship and long term commitment with Nigerian partners.
Mr Uduma emphasized further on Nigerian Government’s efforts to enhance the reputation of the country in the fight against corruption, combating security challenges and promotion of trade and investment. In his presentation, Mr Uduma said Nigeria is open for business. The return on investment in Nigeria (ROI), Is the highest in Africa – between 35 and 45 per cent and in some sectors even up to 70 per cent.
Opportunities are offered in practically all industries, most notably in the energy sector in the field of oil and gas, agriculture, shipbuilding and transport, telecommunication and Truism etc…
It was interesting to listen to the experiences of successful Slovenian company Sinergise. Mr Greg Milčinski Director of Sinergise d.o.o., said Nigerian market is very important because of its size, opportunities in the ICT sector and other sectors. Highlighting the importance of culture, he shared his experience with the dress code which he himself resolved with the use of traditional clothing. Very important in business, of course, the support of local partners, he added, but stressed that before the conclusion of an agreement with local partner(s), it makes sense to check the seriousness and the actual desirability of local partners for business.
The event was closed with a networking and Q&A session.
by admin | Jul 2, 2014 | Events, News
I would like to thank all for attending the Business Breakfast Seminar. We have learned a lot on business approach, legislation and cultural differences between Nigerian and Slovenian (European) culture especially in business relations.
We trust that such event brings fruitful business and we will try to set up more of them in future. We welcome you for any questions or further assistance that we can offer as a Slovenian – Nigerian Chamber of Commerce.
Fred Uduma
President (SNCC)
by admin | Jun 23, 2014 | Events
Nigerian Business Culture, Communication and Negotiation Skills
Highlighting the role of Cultural etiquette for companies and individuals seeking to trade or invest in Nigeria.
Tuesday 1st July, 2014 – GZS Dimičeva 13, 1000 Ljubljana – Slovenia
In today’s business, it is an established fact that culture plays a vital role or to a high degree influences the attitude, perception and decision making process of an individual or company. Doing business in Nigeria requires a know-how experience in Nigerian Business Culture, Communication and negotiation skills that will guide you in establishing a good working relationship.
Nigeria, the most populous country in Africa with a population of about 200 million, over 500 ethnic groups and well over 250 languages is a multi-cultural country where business groups or partners negotiate every day for the growth and success of their businesses.
In this event you will hear and learn from the experts how to communicate and negotiates when it comes to doing business in Nigeria and how her diverse culture affects your decision making.
Slovenia-Nigeria Chamber of Commerce have partnered with Business in Africa Pays and Chamber of Commerce and Industry of Slovenia to provide you with expert and practical advice and information to fully equip you when considering Nigeria in your globalization projects.
Program
| 09.00 |
– |
09.30 |
|
Registration of participants and welcome coffee |
|
|
|
|
|
| 09.30 |
– |
10.00 |
|
Welcome Address
Aleš Cantarutti, Director, International Relations Department Chamber of Commerce and Industry of Slovenia
Fred Uduma, President, Slovenian-Nigerian Chamber of Commerce |
|
|
|
|
|
| 10.00 |
– |
10.20 |
|
Presentation-Facts about Nigeria’s Business environment and Opportunities
Mrs. Faina E. Obi, Second Secretary in Charge of Trade and Investment, Student Affairs, Protocol, Information and Culture |
|
|
|
|
|
| 10.10 |
– |
11.00 |
|
Presentation -Business Culture-Communication and Negotiation Skills
James Behan – Managing Director, RenePort Ltd
Tony Ayavoro – Legal Advisor, RenePort Ltd |
|
|
|
|
|
| 11.00 |
– |
11.20 |
|
Experience of Slovenian companies working in Nigeria
Grega Milcinski – CEO, Sinergise d.o.o. |
|
|
|
|
|
| 11.20 |
– |
12.00 |
|
Discussion
Networking (possibility of individual interviews with speakers) |
|
|
|
|
|
Fee: Members of the Chamber of Commerce and Industry Slovenia and Slovenian-Nigerian Chamber of Commerce’s participation in the event is free. For the remaining fee is 50.00 Euros (VAT included) for each participant.
For more information: info@slovenia-nigeria.eu / +38640171774
Applications: cemp@gzs.si Friday, 27 June 2014.
You are cordially invited!
by SNGZ | Mar 20, 2014 | Events
The 3rd International Conference on Africa brought together politicians, business people, academics and culture professionals from Slovenia, European and African states, including members of the diplomatic corps. The conference has provided an excellent opportunity to discuss the current situation and the future relations of Slovenia as an EU member state on the one hand and Africa on the other. The introductory address was given by H.E. Mr Karl Erjavec, Slovenian Minister of Foreign Affairs, followed by speeches of the Slovenian Minister of Education, Science and Sport H.E. Dr. Jernej Pikalo and H.E. Mr Ajay Kumar Bramdeo, African Union Ambassador to the EU. The opening ceremony was moderated by Mr Peter Toš, Former Ambassador, President of the Club of Former Slovenian Ambassadors.
The first day of the Conference was divided into 3 sessions. The first session- “Follow up of the EU-Africa Summit- Investing in people: Human resources development and human capital” addressed development concepts for human resources and human capital, with particular emphasis on education training and cooperation on science and research. The session was moderated by Prof Dr Mitja Žagar (Institute for Ethnic Studies, Slovenia).
The second session- “Good Civil Registration Governance and its Relevance for Circular Migration” was moderated by Ms Alenka Prvinšek Persoglio, Vice President, Interact4c. The panel stressed out the importance of the civil registration of circular migrants in their countries of origin, for both their legal departure and return. The circular migration of highly qualified migrants and preventing the brain drain from their countries of origin is directly connected with well-developed system of registration and support of consular services.
The third session- “The role of Diaspora and Non-governmental Organizations in Africa’s Development” offered an important aspect in the development of the African continent with a particular emphasis on the integration of the diaspora and immigrant communities into European countries. As individuals, communities and organizations, immigrants from Africa must be given the opportunity to improve their knowledge in Europe, understand their role for both the development of their European environment and the development of their respective countries of origin. The relevance of proposals, current and future programs and projects, including innovative proposals for strategic development, can be assessed only on this basis. The session was moderated Dr Marijanca Ajša Vižintin, Slovenian Migration Institute, Research Centre of the Slovenian Academy of Sciences and Arts.
The second day of the 3rd Africa Day was dedicated to the exploration of business opportunities between Africa and Slovenia. As the President of the Chamber of Commerce and Industry of Slovenia Mr. Samo Hribar Milič highlighted in his welcome address, Slovenia has much to offer to African businesses and investments in Slovenia. Slovenia for Africa is the gateway to the European Union markets and access to big inner market which can offer well-developed infrastructure, public and a high level of the education system, a high quality of life and a well-functioning social care system. On the other hand, the lack of information and greatly limited Slovenian diplomatic representation on the African continent impedes business cooperation between Africa and Slovenia despite close tights established in academic level since the Yugoslavian times.
Moreover, in his opening speech Dr. Stanislav Raščan, Ambassador and Director General for Economic Diplomacy at the Ministry of Foreign Affairs of the Republic of Slovenia, noted that despite modest relations at the moment, the potential fpr cooperation is significantly higher, particularly in the sectors of energy and renewable energy, water management, environmental developments, ICT pharmaceutical, automotive, engineering, chemical industries as well as tourism. The establishment of an adequate legal framework and agreements with the African Chamber of Commerce would advance business cooperation.
The first session, professionally chaired and moderated by HE Dr. Janez Šumrada, Ambassador, Head of the Department for Economic Promotion at the Ministry of Foreign Affairs of the Republic of Slovenia, on “Economic opportunities between Slovenia and Morocco” focused on various business opportunities in the Kingdom of Morocco presented by HE Dr. Ali El Mhamdi, Ambassador of Morocco to the Republic of Slovenia, and his team. As HE Dr. Mhamdi highlighted, the growing middle class and consumer spending, young and well-educated labor force, safety and political stability. Other panel participants shed light on the reasons of why investors should consider Morocco as an investment destination, as a tourism and tourism industry investment destination and as a destination for investments in the area of renewable energy. It is noteworthy that ICPE last year organized the international capacity development project on “Sustainable Energy Solutions” in cooperation with UNIDO and the international training on “Wastewater Management and Solar Energy” for the representatives of several African countries financed by OFID, training which particularly attracted the attention of the Moroccan delegation that expressed their wish to participate in such trainings.
The second session presented the “Economic opportunities between Slovenia and West African Nations – Nigeria, Guinea-Bissau and Ghana”. The panel presentations indicated that knowledge transfer and business partnerships already exist, but there are plenty of unexplored possibilities in areas of oil and gas, agriculture and agro-processing, real estate sector, ICT, roads and infrastructure, tourism, health care and pharmaceutical industry as well as tourism.
The third session focused on “Connecting Africa with Europe – Europe for Africa and Africa for World project”. In this panel participants presented and explored the possibilities of the cooperation in the areas of high-end technology and innovation on the one side and Slovenia’s excellent geographical position and well-developed infrastructure, particularly, the Port of Koper, road and railways infrastructure as an enabler and facilitator for such cooperation on the other.
The last panel was a “Round Table on Business Opportunities in Africa: Debate with African Ambassadors accredited to Slovenia” with esteemed Ambassadors from Nigeria, Ghana, Uganda, Rwanda and Morocco. Although the Ambassadors were focusing on specificities and particularities of each country, one has learnt that the African economy is the most resilient in terms of global economic crises and continues growing, and that the improved business environment has already attracted the increase of FDI in diverse sectors across continent and this trend is likely to continue in the coming decades. Private, public and private-public investments are welcomed and the African countries are generous in offering diverse incentives, including tax exemptions, tax holidays and favorable conditions to foreign investors.
Tremendous potential is there yet clear and transparent cooperation and regulatory framework are to be established at the bilateral level to foster cooperation in business, education and science between African countries and Slovenia. As HE Dr. Janez Šumrada emphasized in his closing remarks, the Republic of Slovenia believes in Africa, its economic and human potential and despite being a small country with limited resources but can still contribute to the development of mutual links.
by SNGZ | Sep 25, 2013 | Events
The Slovenia-Nigeria Chamber of Commerce in Partnership with the Embassy of Nigeria Budapest, Hungary, Chamber of Commerce and Industry of Slovenia and the International Canter for promotion of Enterprises (ICPE) organized a Business Breakfast meeting on the 25th of September, 2013 at GZS, Dimičeva 13, Ljubljana, to formally inaugurate the Slovenia-Nigeria Chamber of Commerce.
The event, “Nigeria – opportunity in the heart of Africa” attracted many Slovenian companies looking for new markets and those that are already doing business in Nigeria.
Present at the event were His Excellency. Muhammadu Sani Yunusa, Deputy Head of mission, Embassy of Nigeria Budapest, Hungary; Mag. Samo Hribar Milič, President of the Chamber of Commerce and Industry of Slovenia; Mr. Janez Podobnik, Acting Director General, ICPE; Mr. Fred Uduma, President of Slovenia-Nigeria Chamber of Commerce and many other dignitaries and business operators across Slovenia.
The event highlighted Nigeria as a country that is ranked among the fastest growing markets in Africa. Country, rich in natural resources, especially oil and gas, and was in recent years marked by fundamental economic changes. Mr. Anže Lenče, Vice President of Slovenia-Nigeria Chamber of Commerce in his presentation on business opportunities in Nigeria, pointed out that Nigeria offers business opportunities both in the fields of energy, agriculture, oil and gas, tourism, healthcare and pharmaceuticals, as well as in the banking, financial and ICT sectors.
Introducing the Slovenia-Nigeria Chamber of Commerce, Mr. Fred Uduma, President of Slovenia-Nigeria Chamber of Commerce, highlighted the Vision, mission and services of the chamber including its working groups. He further said, the Chamber was established to strengthen and enhance business, economic, trade and bilateral cooperation between Slovenia and Nigeria With the objective of assisting Slovenian businesses to access the Nigerian market, helping them to trade and maximize profit.
Mr. Uduma, emphasized on the need of establishing a Slovenian Embassy or Consulate in Nigeria which will address the visa problem for Nigerian businessmen looking at Slovenia and urged the Honorable Minster of Foreign affairs of the Republic of Slovenia, his Excellency, Mr. Karl Erjavec to prioritize and address the issue.
It was also evident that a good number of Slovenian companies are already successfully operating in the Nigerian market. Trade between the two countries was relatively modest last year, amounted to 11 million euros. Furthermore, great rise of Slovenian exports to 170 million people in the Nigerian market is delightful. Growth in trade in recent years also shows a number of cooperation opportunities offered to Slovenian and Nigerian companies.
In conclusion, Mr. Uduma said, the Slovenia-Nigeria Chamber of Commerce will facilitate and walk the walk with any company, institution or individuals that wish to enter the Nigerian market and asked the participating companies and Slovenia business operators to join the Slovenia-Nigeria Chamber of Commerce and make use of the opportunity and trade with Nigeria and Africa in general. He said SNCC We will strive to get you there!
The event was followed by company visits to:-
Cetis d.o.o
Elti d.o.o
by SNGZ | Sep 16, 2013 | Events
The first general assembly meeting of the Slovenia-Nigeria Chamber of Commerce (SNCC) was held on Monday 16th of September.
The agenda was »Presentation of the Chamber Work Program and Financial Plan for 2013; as well as the 3 Working Groups«
- Organizational and Membership Development Working Group
- Governmental Affairs Development Working Group
- Business Development Working Group
SNCC invites companies and business operators looking at new market such as Nigeria and the entire ECOWAS region of Africa to join the chamber and benefit from its enormous services.
For further information, contact us.
