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Tuesday, February 25, 2014

Mofe Tonweh - HGE Capital (Nigeria) #inthespiritofenterprise

I can bet like me when starting out, many entrepreneurs find dealing with accounts a huge headache. Even if you hire an accountant (if you can afford this, that is), you still have to understand the accounting side of your business to know what to expect and what system works for you.

That's how I met Mofe, in pursuit of some sanity with my accounting, invoices, purchases and the whole works. What's more! I don't have to deal with a whole stack of papers and files.. Whew! If you think this is worth getting deliverance from, you should read this interview.


Tell us a bit about yourself your professional background

 My name is Mofe Tonweh. I am a qualified ACCA affiliate and currently heading HGE Nigeria.

What is the story behind HGE Capital and what motivated you to start? 

HGE came about as a business because we saw a gap in the SME market in terms of proper book-keeping and accounting records and we decided to help small businesses in that area.

What exactly are the services your business offers? 

We sell advanced cloud based accounting, Point-of-sale and appointment booking solutions to SMEs.

How did you raise capital for the business?

We started organically. We invested from our little savings to start.

What have been your biggest challenges so far? 

The resistance for business owners to move from old systems onto a new one which is cloud based has been one of the main challenges. The issue of security springs to mind too, but so far, the mood is changing and business owners are warming up to the idea that they can get access to data form anywhere and on any device.

How would you rate the customer satisfaction level?

I would say its high because of the huge benefits.

What is your unique selling point and why should SMEs choose you over competitors?

Our USP is the fact that your business data is accessible at anytime, anywhere and on any device, giving the business owner real time information of the position of their business. 

What do you consider to be the best career decision you have ever made? 

To quit my sales job and pursue a career in accounting.

Based on your experience, what are the main challenges Nigerian businesses face with their accounting? 

Poor record keeping, inexperienced accountants and a lack of resources. 
What is your long-term vision for HGE Capital? 

To be the number one stop for SMEs for their accounting and business solution needs.

What tips or advice can you share with other people looking to start businesses in Nigeria?

Patience and perseverance.

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