Russia Is a Virgin Land for New Businesses and a Non-Racial Country – Nigerian Serial Entrepreneur, Ikeakhe

Ambassador Ehigie Moses Ikeakhe

At age 26, Ambassador Ehigie Moses Ikeakhe is a Nigerian serial entrepreneur. Ehigie Ikeakhe is significantly known in the hospitality industry having his El-Castillo Hotels in the heart of Lagos, Nigeria and into the media and entertainment industry. A young real estate developer in Nigeria and Russia. His BWE Studios got featured in CNN’s African Voices in 2018.

Back to when he was still studying abroad, Ehigie Ikeakhe had his mind prepositioned on running his own company someday. Having got his Bachelor’s degree at the Florida International University, USA, Ehigie resisted the enticement of remaining abroad and therefore returned Nigeria to plan out his Business career. Together with his brother Precious Ikeakhe, Ehigie Ikeakhe co-founded the BWE Group, a company that will sooner turn to be the mother brand of other spicy companies in Nigeria.

The BWE Group is a multi-business conglomerate with a network of activities that covers the media and entertainment, real estate, technology, fashion industry, food and beverages, founded in Moscow, Russia.

On the 9th of July, in a morning interview with a Nigerian broadcast channel, Wazobia TV, the host, Henry Pondit of the Gudu Morning Show had a very interesting discussion with the special guest, Ambasador Ehigie Moses Ikeakhe (ECOWAS Youth Ambassador, CEO of BWE Group, BWE Studios, El-castillo Hotels, Frostwater Bottled Company, etc) and the topic of the discussion was ‘Doing Business in Diaspora’.

How are you doing because we know that there is a pandemic in town:

I am doing good, you know the pandemic actually affected everything but the same time as an entrepreneur you find different ways to get back up and stay positive but it has been good so far as we are safe, family members and friends are all in good condition and that is the important thing right now.

Well, I gathered that you are in far away Russia as of now, so how is it in Russia regarding the pandemic, businesses and how it has affected the economy of Russia:

The cases here went off at some point but the Russian government was able to control it. Businesses and offices have started moving while school studies are being taken online. So things are moving normally here.

Amb. Moses Ehigie Ikeakhe

So as it is, can I at least say activities have gotten back to probably 60% of their active processes:

Yes, I would say 70 percent. Most of the things are working.

Does the Russian government have laws and protocols on how businesses should run there like the wearing of face masks, social distancing and all that:

Yes, like going into the shopping malls, banks, offices you have to go with your face mask and hand gloves, it is then the government feels you are safe and protected and therefore you gain access to every business place as long as you have your face mask and gloves.

Tell us about what you do as an entrepreneur in Russia as we know that doing business in diaspora is a lot and so let’s begin with what you do in Russia:

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Okay, Russia is a very big market and it’s a virgin land just like Nigeria where there is so many opportunities for the business minded, so I am setting up a restaurant, The Caroline’s Kitchen, an international kitchen that has African meals, at the same time working out an animation studio because we are also kin at telling the African story anywhere around the world and that’s the good aspect of animation. We already have the studio in Lagos and here in Russia setting up. Although due to the Coronavirus pandemic a lot of things are moving slowly but our main focus right now is the restaurant and the real estate business here in Russia.

I was going to talk about that, because from the information I have here you are into the media and entertainment, food and beverages, technology, real estate and fashion industry. How do you handle all these business arms at the same time giving the fact that you are in a foreign land:

Over the years, we have built up a very strong and solid team that is not all about businesses alone but more of a family so things have been moving very much well with a good connection that moves everything in the right order. Though it is not easy but everyday we are still keeping it going. The businesses have been going well in Nigeria and here in Russia so I believe it’s just the plan, the teamwork and the vision and that has kept us connected and up to our goals. We are Born Winners and we are born to win.

Awesome! Running a business in diaspora as to running a business in Nigeria, which would you say is more lucrative and tasking to run, Nigeria or Russia:

I would say it is more tasking here in Russia because of the language barrier but the good part of Russia is that the younger ‘new generation’ citizens are more of exploring eg learning new languages like English unlike in Nigeria where we have gotten the larger numbers. Although in Russia there are numbers but the laws are kinda different, as long as you abide by their laws, it’s easy to set up a company because companies here are more of international standards that can grow anywhere in Europe not just in Russia.

Businesses in Russia are moving really fast as they are in need of new and different ideas from what they have been doing and having Africans doing good stuffs here in terms of hospitality, food and beverages have been going really well. And the government tries to encourage every foreigner that tries to set up international business here because at the end of the day it’s giving back to the economy.

Ambassador Moses Ehigie Ikeakhe

That was actually going to lead me to my other question regarding that you were speaking about other foreigners setting up business there and since you’ve been there doing business as a Nigerian, how would you say is the acceptability of other foreigners setting up businesses there, as it be generally and widely accepted by the citizens:

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With the media, when you hear about Russia you hear that it is a racial country with people who are not friendly but trust me, everything works smoothly and both the government and the people have been really supportive in terms of businesses and meeting with foreigners.

In 2018, I was in Russia for the Fifa World Cup which brought a lot of things to Russia such as being exposed to other nationalities, cultures and they got to understand that it is rather an advantage for the nation. So the government saw how the economy went up and they see it as an advantage to their country. Ever since, the government has been placing new laws on how to make things work easier for the foreigners.

What are the other barriers for you aside language:

Well, first of all, as long as you are 100 percent legitimate in the country (passports, papers, dealing with the right people, international lawyers, etc) but you know at the end of the day if you don’t have the information you won’t be informed. So when we started we at first got a very good international lawyer that knows the way-in and way-out and we were able to set up the international company.

In Nigeria, funding and other capital issues have been a major reasons why companies crumble. In Russia is it easier to access loans and funding:

It is easier to access loans and we have been working with very good partners and investors that have been a very good support. But in Russia if you have the residential permits it’s more easier to access loans, mortgages a lot of other financial benefits with the government, banks and corporate companies. As a virgin land they are trying as much to depend and emerge the new generation.

We have brands like the Black Star, which is run 60 percent by an African man.

How easy is the country’s manpower or labourer to foreign:

In Russia the man power has been good and motivated. They aren’t mentally derailed and do not look at their bosses as foreigners. So the manpower has been strong and they are always ready to push the business as if it is theirs. They see the business as their own and so happy recount the successful of the business irrespective of the boss.

Interesting! Speaking about the working hours, how is it over there, per hour or day:

Depends on the sector, here in the restaurants you work per hours with around 6 hours shift although it depends on the management setups. So it depends on the business like supermarket is different from the real estate business. For example, we are setting up a supermarket that is 24 hours work hour so we do 12 hours day and night shifts.

Okay it’s good that we are able to establish the bases of this whole conversation because we needed to know exactly how it is as an entrepreneur in a foreign land, how easy it is for you to setup shops and keep the business running. Let’s talk about the reputation now because this is a major concern of Africans in the Diaspora seeing with the fact that there is a narrative out there that Nigerians can’t be trusted, credible or diligent. So breaking into that country and coming out as an entrepreneur, what were your difficulties in trying to change that narrative of Nigerians being fraudulent:

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First and foremost, it’s you as a person. I don’t believe in stereotype and that has really helped me in everywhere I go, because I schooled in the United States and I always try to stay positive and 100 percent legitimate. So I have nothing to worry about in terms of how people look at me. What I look out most is what I bring into the table and who I deal with. It is best you go straightforward and showcase your talent. Now I have a team that is 100 percent honest and accurate.

As an entrepreneur, it is better you take advantage of the benefits of doubt and be honest in the end.

Ambassador Moses Ehigie Ikeakhe

This conversation has been so lightning. To come to think of it, you are quite young and have achieved enormously in a short time, how did you managed to do this and for young entrepreneurs who are looking forth to embark on the journey you have started, what are those words you can tell them to make them carry on with these ideas of theirs:

Mine was more of a family business so when we started it was like let’s do this and the motivation from my family, because I’m from a very business minded family as my mother started at age 6, frying donuts, what we call ‘bonce’ and taking it to her school. That trading stories and gene was what motivated me most to also begin with my own businesses. It’s better to start early and it’s good you fail so you have the experience of being a failure then you can win. That is the reason why we’re called Born Winners. We fail to win. The whole idea is to start, if you have the an idea or anything to sell, don’t just keep it on the cupboard, give it a try. Start pretty small. All these businesses started from somewhere, we started from the entertainment, bottled water. One of the first entertainment companies that started showcasing our products through our contents. We did music and in our music videos we we were selling our products, the Frostwater and other businesses of ours.

We are working on an animation movie right now and already beginning selling brands and giving proposals to companies. At the end of the day, this gives the idea that you know what you are doing even if you fail. I am a practical failure, I have failed but my believe is that the next time you do that again, there is every possibility of you winning.

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