Meet 2019 TEF Alumni, Olusegun Ayodele who was funded for his sachet water business idea
Funding for sachet water business idea: Water, second to oxygen, has been identified to be very important to human existence because it is very necessary for survival. A reliable supply of clean wholesome water is crucial to promoting healthy living amongst the inhabitants of a well-defined geographical region. proffer a solution to the water problem, it was estimated that 1.2 billion people around the world do not have access to clean safe water and about 2.5 billion people are not provided with adequate sanitation (Third world water forum, 2003).
In Nigeria, the supply or provision of public drinking water is not reliable. Ground water and pipe-borne water are the major sources of drinking water. These sources are said to be unsafe sources of drinking water because findings indicated that groundwater sources contain trace elements, dissolved solids and pathogens in excessive quantities that may be dangerous to the health of the people.
Identifying the clean water problem
The realization of the renewed global commitments toward the millennium Development Goals (MDGs) required the development of locally sourced alternative low-cost drinking water schemes that will provide sustainable access to safe drinking water in both rural and urban settings in developing countries (UNDESA, 2004).
Sachet water belongs to the lower consumption segment in the beverage and water sector. However, it accounts for about 70% of total packaged water sold in Nigeria and only about 18% of urban households in Nigeria depend on packaged sachet water as the primary source of drinking water.
Fund for his Clean Sachet Water Business Idea
This challenges and the need to address them prompted Olusegun to set up Dotsom Enterprise, a company that produces quality and hygienic sachet water.
Dotsom Enterprise is an approved firm that wants to solve the problems of clean water scarcity by providing unique, innovative, and wholesome sachet water with 20 percent extra value at same price with competitors to meet rising needs for wholesome and affordable water in satisfactory quantity.
“The rising demand for wholesome water particularly during hot weather in my locality and its environs is yet to be adequately met as many are always in search of clean and affordable water at every season. The present supply cannot meet popular demand. Hence, my firm is strategizing to meet these needs by introducing 70cl sachet water which represents 20% – 30% extra value to customers as against competitors’ 50cl/60cl that are currently available in the marketplace.”
Olusegun decided to be an entrepreneur for the passion he had for it and ultimately to meet the needs for wholesome sachet water in his locality. He was motivated by the inadequacy of quality sachet water in his community.
“I wanted to change the situation of shortage of good sachet water in my community with my business. This was so important because it has direct impact on the health situations of the people in my locality.”
Currently, he has 11 people under his direct employ and generates revenue ranging from $500 to $600 monthly, and the company’s market share has increased by 20%. With this, the transmission of diseases like cholera, diarrhoea, hepatitis A, typhoid, and polio, which causes the death of 100,000 children under the age of 5 in Nigeria yearly, is greatly reduced.
“The TEF programme has indeed helped me realized my dream of meeting the needs for wholesome and quality sachet water in my locality. Most importantly, the TEF training, funding and mentorship have made a whole lot of difference and greatly changed my entire life.”
Olusegun has explored the opportunity of becoming a consultant to others in the field of water production. He is also tutoring potential entrepreneurs on how to kick start a successful business venture.
ABOUT THE TONY ELUMELU FOUNDATION
The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and ensuring inclusive economic empowerment. Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFconnect, and disbursed nearly USD$100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.