The Amaecom Chairman who was a Guest Speaker at the 2019 Students’ Entrepreneurship Day organized by Center For Entrepreneurship and Development Research (CEDR), University of Nigeria Nsukka spoke on the theme: “Graduate Self Employment: a veritable tool for nation building”.
Dr Ofomata stressed that recent research, economic and statistical data has positioned Nigeria as the poverty capital of the world with scores of people living in abject poverty, mortality, malnutrition,leading to high crime rate, insecurity, depression/succide among others but expressed optimism that Entrepreneurs are the ones to safe Nigeria from the economic doldrums.
The Harvard trained entrepreneur observed that every year Nigerian Universities and other higher institutions keep churning out graduates into the labour market with little or no provisions for their immediate engagement towards sustainable livelihood thereby endangering the different indices of development in the country.
The global entrepreneur stated that as the population of Nigerian youths increases, there is strong need for an increment in the number of employer of labour who will create value to improve the living standard of the emerging citizens because government cannot do it alone. He motivated the students to take business decisions that will salvage the economic fortunes of the country.
Dr Ofomata who it the immediate Past President of Entrepreneurs Organization, Abuja charged the students to learn practical skills, commit to their passion, start little businesses even while in school in addition to their academics in order to have a base after graduation. He admonished the students to create value instead of pursuing money. The Amaecom Founder observed that when you create value for a society, money will follow you naturally.
Dr Ofomata who is currently the Global Mentorship Chairman of Entrepreneurs’ Organization tasked the students to be patience in building their businesses from the scratch and from grass to grace just like he built his Amaecom brand from “an idea to significance”. He told the students that they have what it takes to make it considering their level of education and exposure to Information and Communication Technology (ICT) which has made research much easier compared to his early stage of business life. He told the students that the best age to established a sustainable brand is in their youthfulness when responsibilities has not set in. He charged them to get business mentors who can motivate/nurture them, link them up to opportunities and practical know-how where necessary till their brands becomes sustainable.
Dr Ofomata who is also the Founder of a Non Governmental Organization - Marcel Ofomata Foundation decried the increasing dearth of many businesses due to the inability of their Founders to put up a business system that can outlive the first generation charged the UNN students and other entrepreneurs worldwide to intentionally plan a succession plan for their businesses. He confirmed that if the students graduate out of school to grow their little businesses, that the rate of unemployment will reduce and they will also create value and opportunities for others which will consequently contribute to nation building.
Dr Amaechi Ofomata while sharing his business journey with the students said that he started his business by hawking spare parts of old motorcycles in low scale before making profits to the point of buying new Motorcycles from Innoson Motorcycle at Nnewi for his Customers. He recounted how the business grew to the point that he needed to rent a single store and thereafter went into manufacturing of most of the products his company is offering the Nigerian and International market.
In his testimony to motivate the students, Dr Ofomata stated that today his company has created over Five Hundred Direct employment within and outside Nigeria and numerous downstream opportunities. He added that the brand has manufactured many products on it brand name including Amaecom Motorcycles, Generators, Refigerators, Gass Cookers, Tricycles, Pressing Iron, Water Dispensers, Mattrass/Pillows, Roofing Sheets, Crystals, Steel Doors. The company currently has 31 branches in Nigeria with a branch at Ghana, Cameroon and offshore factory at China. He added that the company has evolved from ONE brand to a conglomerate having SIX Companies and still counting including: (a) Amaecom Asset Finance (b) Fabric Mobility and Logistics (c) Royal Citadel Housing Homes (d) Mitchell and Michelle Business School/Enterprise Hub (e) Trading Company (f) Marcel Ofomata Foundation as a Corporate Social Responsibility (CSR) and Special Purpose Vehicle for Community/ National development.
After his presentation, the Chairman of Amaecom Group, Dr. Amaechi Ofomata was later presented with a DISTINGUISHED ENTREPRENEUR AWARD in recognition of his outstanding entrepreneurship achievements by the Centre for Entrepreneurship and Development Research (CEDR), University of Nigeria - Nsukka at Ekpo Convocation Park, venue of the event. The event held on the 23rd July, 2019
The Amaecom Chairman, Dr Amaechi Marcel Ofomata and Chairman of Innoson Group were the two Guest Speakers at the Entrepreneurship Summit and they were earlier received on a courtesy visit by the 15th Vice Chancellor of University of Nigeria, Nsukka - Prof. Charles Arinzechukwu Igwe in his office
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