Foluso Phillips speaks on the future of Nigeria's economy

10 October 2018

Speaking at a lecture organised by AIESEC Alumni in Nigeria, Chairman of Phillips Consulting Foluso Phillips has made a number of recommendations for Nigeria’s economy as it moves towards an expanding global role, including but not limited to the creation of job opportunities to avoid a possible brain drain.

Nigeria is the largest economy in Africa by GDP, in addition to having the largest population in the continent. A promising economic indicator for the country is that a majority of this population is yet to enter the working age, which sets the country up to have an expansive workforce in the near future.

According to Foluso Phillips, there is little doubt about the promise of this scenario, although it also presents its share of dangers, which might stem from an inadequate education system in the country. The country has an imbalance in terms of access to education, with only a 30% rate of education in the North of the country as opposed to 80% in the South.

For those who are educated, Phillips warns that the current opportunities for employment fall far short of international standards, not only in terms of working conditions but also in terms of the level of technological integration that the business environment has witnessed.

Foluso Phillips speaks on the future of Nigeria's economy

“We are experiencing what a German referred to as a ‘youth bulge’, a situation where youth population rises geometrically with meaning job opportunities for them. We have one of the highest youth population in the world. This can be a blessing or a threat. High volume of unemployed youths poses threat to the nation as our young professionals are emigrating legally abroad,” explained Phillips.

“Our youths are seeking greener pastures and we are losing quality people, who are the real ones to build our nation. We must come up with a winning strategy; if not, there will problems in the next five years. We must tap into technology to grow our nation, deliberately measure competitiveness to attract investment, and define metrics for assessments and benchmarks.”

On the importance of technological integration, he added, “We are in the middle of a very violent disruption. It is the fourth industrial revolution. Artificial Intelligence is almost here and technology is bubbling with news tricks and changes daily.”

Phillips’ own firm Phillips Consulting is currently working on digitalisation efforts across the Nigerian banking sector, supporting global Fintech company Intellect Design Arena with the launch of its Contextual Banking Experience product in Nigeria. This is the second event in recent weeks that Phillips has been asked to speak at, given his status as a well-established figure in Nigeria’s consulting industry.

L'AINE Services celebrates 25th anniversary with renewed gusto

17 April 2019

Ghanaian human resources consultancy L’AINE Services has marked its 25th anniversary in operation with a reaiteration of its commitment to developing a skilled and motivated workforce for every client that it works with, consistent with priorities across the business environment in Ghana. 

Ghana is on its way to becoming a prominent financial centre for West Africa, The government and private sector are working in collaboration to ensure that the region’s economic potential is realised, and a large part of the focus thus far has been on the development of talent in the country’s workforce.

As a result, training programmes have increased in quantity and intensity, while consultancies that work on innovative human resource policies have come to prominence. The rationale is that fostering talent, boosting productivity and developing digital skills will drive Ghana’s economy forward.

L'AINE Services celebrates 25th anniversary with renewed gusto

Once such consultancy is L’AINE Services, based in Tema. The firm was established in 1994, and has recently celebrated its 25th year in existence. Over the years, the firm’s suite of services has gradually expanded to include support with recruitment, payrolling, training and publishing.

The firm also helps with hiring and talent development, which has made it particularly relevant in the contemporary scenario. During the firm’s 25th anniversary celebrations, executives at the firm reasserted its mission to support the business environment in Ghana in its growth endeavours.

This involves ensuring excellence in its service of each and every client. The firm has a three-pronged strategy to facilitate growth in the HR domain, including a focus on people, innovation and technology. Founder and Director of the firm Ellen Hagan indicated that the firm seeks to “transform every life and business we come across.”

Delving into the ethos behind its services, Board Chairman at the firm Prosper Asamoah indicated that the firm lays emphasis on developing a secure environment within which employees feel safe enough to thrive and innovate. Empowering employees is the key for organisational development, according to Asamoah.