Kate Adesomoju Calls for Purpose-Driven Businesses and Stronger Government-Private Sector Collaboration at “Time Out with Kate”
By:Sesan R.Awobiye
Kate Adesomoju, Managing Director and Chief Executive Officer of Spectrum Holdings, has called on Nigerian entrepreneurs to build sustainable, purpose-driven businesses capable of creating value and surviving across generations.
Adesomoju made the call in an exclusive interview with Momentous Media at the “Time Out with Kate” event, organised by His Presence Foundation with the theme, “Building Transgenerational Businesses 4.0.”
She explained that the initiative was created to help entrepreneurs move beyond building businesses solely for personal profit and instead establish enterprises that solve problems, create opportunities and remain relevant for future generations.
According to her, profit remains important to every business, but it should not be the only objective.
“Profit is very, very important in a business. However, that should not be the only goal. We should build a business much more than profit only,” she said, stressing the importance of value creation and solving real problems through business.
Adesomoju also called for stronger collaboration between the government and the private sector, urging policymakers to regularly engage business owners and industry stakeholders when developing policies that affect businesses.
She noted that businesses are closely connected to families and communities and that their success contributes to the overall performance of the economy.
The business leader further identified inflation and high lending rates as major challenges affecting businesses in Nigeria. She urged entrepreneurs to remain resilient despite the difficult economic environment and described business building as “a marathon race, not a one-off race.”
She emphasised the importance of establishing proper systems and structures to ensure that businesses can survive beyond their founders. According to her, business owners should understand the difference between ownership and management and be willing to delegate responsibilities to competent professionals.
Adesomoju also spoke about the role of faith, integrity and responsible decision-making in business and personal life. She encouraged entrepreneurs to remain patient, hardworking and focused on the legacy they want to leave behind despite economic challenges.
Speaking about His Presence Foundation, she described the foundation as part of her passion for giving back to society and encouraging people to share with others despite personal limitations.
She also urged parents, particularly mothers, to pay greater attention to their children, encourage them to develop productive interests and introduce them to God while providing proper guidance and support.
Looking towards the future, Adesomoju expressed optimism about Nigeria’s potential, saying the country has significant human capacity and resources that can contribute to its development. She also expressed hope that Nigerians in the diaspora would return and contribute to the country’s growth as the environment improves.
The “Time Out with Kate” event brought together notable business leaders and professionals to discuss building sustainable and transgenerational businesses.
Featured speakers included Mr. Demola Aladekomo, Founder of Chams Holdings, who served as keynote speaker; Adediran Abiola, Business Consultant and Coach; Isaac Orolugbagbe, Director at Lagos Business School; and Mrs. Ibukun Awosika, Founder and CEO of The Chair Centre Group, who made a special guest appearance.
Panelists included Mrs. Nancy Nnadi, Founder of Accounting Boss Software; Michael Obinna Emeamama, MD/CEO of LargeMichaels; and Toyin Bakare, COO and Executive Director of SAS Textiles.
The event was sponsored by itel Energy, oraimo and Spectrum Technologies Limited.
Momentous Media covered the event and conducted the exclusive interview with Kate Adesomoju, focusing on entrepreneurship, business sustainability, faith, leadership, family and Nigeria’s economic future.
