Bespectacled Mrs. Florence Seriki is the Group MD/CEO of Omatek Ventures Plc, manufacturers of Omatek Computers. Petite but endowed with an indomitable spirit, the Member of the Federal Republic (MFR) who trained as an engineer chatted with YES INTERNATIONAL! Magazine’s AZUH ARINZE recently on her business and more…
How did Omatek Computers begin?
Actually, we started 26 years ago and as a Chemical Engineering student of the University of Ife, I had a special project that cut across University of Lagos and University of Ife. Because of the sensitivity of my project, one of my lecturers brought a computer into the campus of University of Ife, so I had to learn programming in Lotus. I started helping them to do a lot of things with the computers. Before I knew it, some executives started asking me to teach them computer. Then, there were computers on the tables for decoration. So, I used to encourage them. It was just like a joke and I started training the executives on appointment. When I finished my NYSC, I didn’t have to look for work, so I continued in that form. I remember in 1998, it was on 40, Marina Street, Lagos; Union Bank gave me a room with three computers. I was busy fixing appointments for them and they were coming into that room to use the computers. So, we gave one hour slot, meaning you could have one hour three times a week. So, when the new generation banks came, I was busy teaching the new directors of the banks and once I finished with them, I noticed that they wanted me to teach their staff also. All of a sudden, they started relying on me to help them with the procurement of the computer systems. So, that was how it all started.
How have you been able to sustain Omatek Computers in the last 26 years?
Each year carries its own challenges, but the beauty of it is that we keep working hard and keep doing what we are doing. The greatest challenge we ever had was the one I was mentioning when we were going for a tour. I thought I had figured out everything; I needed collateral and facilities to fix things. This was the greatest challenge, especially when the SME thing was done and we were one of the first beneficiaries of Obasanjo’s SME scheme. We partnered with Zenith and GTBank to set up the factory then.
Most people are able to attain success but find it difficult to sustain it. How have you been able to sustain the success of Omatek Computers?
There are too many challenges. I am an analytical engineer and when you analyze it, it does not make sense. But I kneel down and pray and of course even if you pray and don’t do what you have to do, you may fail. If you don’t work hard, it can’t work. So, you keep training yourself as well in whatever field you are in. Let me give you an example, I started typing in 1990 when I used to have a Ghanaian secretary. That was when I learnt how to type. I don’t write drafts for secretaries, I type myself and print straight; then I give it to them to go and bind. There are too many challenges in this country, so if you work hard and you know your stuff…Again, fight for your right. That is one thing I also noticed, especially with the banks because a lot of things they would want to do one way or the other, but if you fight for it, you will definitely get it. And it has helped me over time to get to where we are today. Like I said, the Sanusi Lamido Sanusi CBN boss policy was the greatest of it because that was when I also thought I’d joined the league of single digit borrowers. We just went to the stock market, finished doing what we were doing and the banks we were using were just cut off. And the new guy they brought said his mandate was to liquidate the bank. Meanwhile, John Aboh was at Oceanic Bank doing his thing, so I challenged him. But I did not know then that it was Omatek Computers’ property that he was eyeing. Afribank leased one of the properties. That was why we had a relationship with Afribank. That was the property they took away that almost crashed the whole business. Now, because of the nature of our business, I tried to keep some of the staff. More so, I do a lot of speeches for women and I tell them that as a woman, you don’t take some rash decisions in business. A man would have thrown away some of the staff, but as a woman, I thought of how I had trained them to this level. That was why I didn’t sack the workers when things were rough, thinking that they would be loyal to the company. But unfortunately, they betrayed the company. Why did we go to school and why did we keep having our school results every time? The bottom line was for you to be appraised. Even if you are a CEO, you appraise yourself. If you are an entrepreneur, appraise your staff. If they don’t do well, throw them out. One lesson I have learnt is that I did all kinds of things with a lot of them. I created profit centres for a lot of them and that time I was now struggling to get back these properties from the bank, I thought they were loyal to the company and before I knew it, all the workers in Calabar and other parts of the country could not remit money to the company in Lagos. And this is the same Calabar that when we bounced back, all I needed to do was to make phone calls and the money would be remitted. So, it’s not as if the contacts were not there and it’s not as if we have not done big businesses with most of them. It is a lesson. Like I always say whenever I am talking to young entrepreneurs, if somebody has shown you the way to make money, you should emulate his/her virtue. Does it mean that if I’m not around, all the things I have been doing cannot be continued by my staff? It was really a terrible situation. Then, I have learnt that one should not lose hope. Some of them thought because the bank that is the nest to us will crash, we would crash too. Let me tell you one truth, we have no business to have been in trouble. Not at all! Even when the banks messed up with so many companies, they said my name was in the paper and I was even laughing and I said that if my name is in the newspapers with Ibru, Dangote, then I must be a big person. I thought it was a joke really, because I wasn’t owing anybody, so why will anybody publish my name in the newspaper? So, we came back with gladness, but because of greed, they saw something else. They wanted to grab Omatek Computers’ property at all cost. I told them that if they acquire the company, would they be able to run it as a company? They told me that I could be the Executive Vice Chairman and they would hire the Managing Director and the rest. I told them you are a banker and not an engineer, if you take it from me, can you run it and the guy thought I was joking. So, I told them to take us to the stock market, since I have a board and a financial committee, I would report back to them and brief them about the latest development. So, I informed my board members and they followed me to meet the bankers. At the end of the day, the matter was resolved amicably. So, what I am saying here is, if I was busy struggling to get the company out of the woods, I see no reason why my workers should not be loyal and steadfast. I have done enough in terms of sales and our products are strong there. We have won over 100 awards. In fact, over 150 awards. I still won another award recently. Stock Exchange gave us an award on Tuesday and I am their ambassador. I would join them in recruiting SMEs to come to the stock market. So, to cut the story short, eventually, I had to prune down the number of staff. But the big lesson I learnt is whether you sack or you don’t sack, even if it’s 10 years’ time, you have to pay salaries. So, it’s like whether we produce or not, are we not putting on the light? It is the same bill that you will pay to PHCN because the lights are on. So, these are actually some of the challenges we face. In fact, that was the major challenge I had and I was left alone because I sacked about 95% of the staff.
How would you rate Omatek Computers products?
The facility has always been there. In terms of competition, what made us to have a competitive edge is the good product. You will hardly buy Omatek Computer and have problem. The only problem we ever had then was that we didn’t have enough engineers to help out.
The name, Omatek, where did you get it from?
Omatek is my Igala name.
What does it mean?
I won’t tell you that.
Most women who run successful businesses find it difficult to run successful homes. How have you been able to juggle your family and your business to ensure that everything is fine?
I give lectures to women a lot. I still had a speech in Abuja yesterday. I keep telling them, it shouldn’t be only women; men should be there also. We need to start training some men on how to manage their own wives that are in business. 99% of the time, the woman doesn’t have the time; it is the management of the man over the woman. We must start training our men to be able to encourage their wives. I started business over 10 years before I got married, so it is not everybody that is lucky. I tell my daughter to start praying now for God to appoint a good man for her.
Do you still cook?
I am from a family of five girls and being the first, I had to cook and when you hear bend down, you will know how to cook very well. And my children know how to cook very well. And during the crisis, I removed all the house helps and they were three cooking. They didn’t feel the absence of the house-helps. That is one of the lessons I give women when I talk to them: put your children in your time table. I encourage women who are breast feeding to bring their children to conferences. When I was breastfeeding, I used to carry my child along.
How did you turn Omatek Computers around after the crisis?
You have to be very bold, especially when you are a woman in business. You have to be extremely bold. When I first started, a lot of women would tell me that they get love advances from men. But you have to be focused and don’t compromise.
NB: First published December 2013