Browsing by Author "Adamolekun, Wole"
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Item Can Tradermoni Scheme Incentives Stimulate Small Business Sector? Empirical Approach of Oja-Oba ‘T’ Dada Market Beneficiaries(Management, 2021-01) Adamolekun, Wole; Obadeyi, J. A; Ogbeide, S. O.; Akande, A. A.This study examined the extent of contribution of tradermoni scheme incentives to invigorate small business sector, with empirical approach of Oja-Oba ‘T’ Dada market beneficiaries. Government introduced an empowerment scheme only for petty and small traders to mitigate poverty and improve small businesses. The area of study was Oja-Oba ‘T’ Dada Market, Ota (otherwise known as Oja-Ota) in Ogun State, Nigeria. A survey research was conducted. The population consisted of petty and small traders who have benefited from tradermoni scheme and were purposively selected. Primary source of data was adopted via a structured questionnaire and interview. Fifty (50) questionnaires were administered to the respondents, and forty-five (45) copies were correctly filled and returned on schedule giving a 90% response rate. The respondents consisted of petty and small businesses owners. The data was analysed by descriptive and inference statistical (Analysis of Variance) techniques. The formulated hypothesis was further tested using t-test via the assistance of Statistical Package for Social Sciences version 21.0. Findings revealed that tradermoni scheme incentives invigorated the beneficiaries businesses at a very slow pace and might take an average of 12 days for small business to realize any benefit(s). The result 2.86 (p<0.05) was statistically significant. The study concluded that empowerment scheme was timely, but on the field, thousands of traders have not benefited as claimed arguably due to ineffective and inefficient channels of communication adopted by government agencies in charge of the scheme. Also the loan amount allocated for the initial phase was too small considering the effect of inflation on the naira. We recommended that government ministries, departments and agencies in charge of the scheme should provide financial report on the amount spent so far, numbers of beneficiaries per state, adopt communication channels targeted to low-income earners, and review policy framework to strengthen the scheme in order to meet its primary objectives now and in the nearest future.Item ‘Communicating development’–a cultural shift: emerging discourses on entrepreneurial development and poverty reduction by Nigeria’s banking and microfinance sectors(Routledge, 2016-09-02) Hu, Ying; Pratt, Cornelius B.; Adamolekun, Wole; Ogedengbe, Adekunle R.This article departs from the dominant orthodoxies in discourses on communication and development by introducing, as a major cultural shift, theoryguided strategic communication themes in two complementary sectors of Nigeria’s financial industry: banking and microfinance. In both sectors, the personal influence model and relationship marketing provide the overarching theoretical framework for investigating the immanence (or lack thereof) of three key variables in the relationships of those sectors with their primary stakeholders, for the primary purpose of entrepreneurial development and poverty reduction. Those variables – trust, commitment and satisfaction – are subsumed under ‘relationship quality’, an embodiment of culture as an integral part of the impact of microfinance on Nigeria’s economy. This article adopts a development strategy that focuses exclusively on relationships established and sustained in exchanges between nonpublic organisations (i.e., the banking and microfinance industries) and key stakeholders for the primary purpose of entrepreneurial development fueled by a cultural economy that ensures the production and wide distribution of finished products, not necessarily commodities. Thematic discourses that use theories to guide institutional policies and actions are proffered in an attempt to create stronger institutional bonds between banking and microfinance institutions and their disparate stakeholders.Item The information superhighway and traditional communication: where we stand(INSTITUTE FOR COMMUNICATION DEVELOPMENT AND RESEARCH, 1996) Adamolekun, WoleAdvances in communication technology, bring with them new characteristics which often expand the horizons for information exchange among people. The evolving information superhighway is promising to break the physical barriers to the free flow of information. This has serious implications for developing countries. As many parts of the world adopt the new technologies of the information superhighway African countries should be cautious and not too readily abandon their traditional communication methods, which are not necessarily anti-thetical to the Internet. As exciting as the new technologies are, they do not always portend positive developments.Item Managing a crisis of confidence in Nigeria's banking and financial industry(JAI, 2011-03-01) Pratt, Cornelius B.; Ademosu, Eddy A.; Adamolekun, Wole; Alabi, Lanre; Carr, Ronald L.An ongoing crisis of confidence in the banking and financial industry in Nigeria's emerging economy calls for using integrated marketing communications (IMC) in optimizing five potentially normative actions as a beachhead in procuring corporate benefits from three variables that predict significantly customers’ favorable impressions of business: satisfaction, trust, relationship commitment. The actions: (a) personalize the stakeholder experience, (b) integrate ethics into the workplace and into corporate communications, (c) participate in training sessions in applied ethics, (d) use brandstanding expansively and integratively, and (e) conduct rigorous outcomes assessment and disseminate its results promptly to stakeholders.Item Microfinance Institution (MFIs) and Survival of Micro and Small Enterprises (MSEs): Empirical Evidence of TraderMoni Scheme Beneficiaries in South-Western Nigeria(Advances in Social Sciences Research Journal, 2021-03-25) Adamolekun, Wole; Obadeyi, J. A.; Ogbeide, Sunday Oseiweh; Akande, A. A.Deregulation in Microfinance Institution (MFIs) in accordance with regulatory policy architecture since 2005 has not fully stimulated sustainability towards the informal system due to the inability of MFIs to access funds and government to judiciously administer credits to beneficiaries of various schemes; this has led to the partial collapse of some schemes in Nigeria; despite Government good intentions of creating employment and alleviating poverty. In view of this, this study assessed Microfinance Institution (MFIs) and Survival of Micro and Small Enterprises (MSEs): Empirical evidence of tradermoni scheme beneficiaries in South-Western Nigeria. The study adopted Tedeschi model (2006) that examined incentives available for borrowers to repay loans. Furthermore, reference was made to Markov Chain model to investigate the response of individual borrower as an applicant and beneficiary of tradermoni scheme in the context of this study. Eighteen MFIs were sampled from 2009 – 2020. Panel data was adopted for the study. The result showed mixed influences of MFIs on survival of MSEs. We are hopeful that findings of this paper would help to fill the existing gap on the influence of MFIs on the survival of MSEs.Item The People's Republic of China and FAPRA: Catalysts for theory building in Africa's public relations(Taylor & Francis Group, 2007-12-25) Pratt, Cornelius B.; Adamolekun, WoleAfrica is experiencing an unusually high economic interest from the People's Republic of China, whose government has invested billions of dollars in schools, clinics, roads, railways, factories, and oil wells on the continent; has canceled more than $1.36 billion in debts owed to it by 33 African nations; and has pledged to provide Africa with $5 billion in preferential loans and credits through 2009. Its top party officials traverse the continent, seeking to develop business relationships and to reinforce others. While such efforts help place Africa on the cusp of significant economic growth, they also boost the programs and activities of the Nairobi, Kenya-based Federation of African Public Relations Associations (FAPRA), and an umbrella body of all national public relations associations in Africa and a consultant to African governments and to the African Union. FAPRA has launched a 5-year action plan to improve the stature and social relevance of the public relations practice, largely through enhancing its efforts to professionalize it. Both China and FAPRA are, in essence, collaborating to create environments conducive to enhancing the practice in Africa, and to laying a foundation for an expansive view of public relations research—one that questions grand narratives, defines concepts, challenges orthodoxies, measures variables, and determines program outcomes or effects. And researchers and practitioners work together in creative ways to improve the practice. This article argues that questions and concepts are, in themselves, opportunities for a much-needed theory building in Africa's public relations. It, therefore, outlines 4 propositions as a template for such theory building, based on a 4-concept research agenda: culture, good governance and rule of law, economic freedom, and FAPRA's integrated programs and activities outlined in its 5-year action plan. The return of China … to global economic prominence in the twenty-first century is likely to reshape global politics and society. The overwhelming dominance of the West, which lasted half a millennium, is probably passé. We should view these developments not only with awe, but with anticipation. (Sachs, 2005Sachs, J. D. 2005. The end of poverty: Economic possibilities of our time, New York: Penguin. [Google Scholar], p. 187) We want to work in partnership with the international community, but we believe that it must be a partnership based on mutual respect and mutual accountability. (Former Namibian Prime Minister Geingob, 2006Geingob, H. 2006. “Democracy in Africa”. In Democracy rising: Assessing the global challenges, Edited by: Muñoz, H.55–60. Boulder, CO: Lynne Rienner. [Google Scholar], p. 56)