Africa Business News: Entrepreneurs. Investments. Banking & Finance. Emerging Markets. Start-Ups
Monday, 27 January 2014
Nigeria is a good place for entrepreneurs - Jason Njoku, founder, online film distribution medium, iROKOtv boss
SEYI GESINDE features the achievements of a Nigerian Internet entrepreneur and founder of the online home video marketing channel, iROKOtv, Jason Njoku, especially on how he made a success of the Internet business.
Jason Njoku is a promising Nigerian, who has been able to use the power of the Internet to capture millions of Nigerians, especially youths both home and abroad, with the introduction of his online media, iROKOtv and Spark. And as a result of this his well defined and developed aptitude, Njoku is today celebrated as one of Nigerian young entrepreneurs making good money online.
As a Nigerian Internet entrepreneur, he has received awards, especially as someone whose special interest is in marketing of Nigerian home videos, he recently featured on the British Broadcasting Corporation (BBC), where he was interviewed by the BBC’s Evan Davis and Nkem Ifejika, as part of the BBC’s focus on Nigeria as one of the world’s leading emerging economies.
He has really been one of great talents doing Nigeria proud abroad, as the show was broadcast to millions of people around the world on the Today Programme and on the BBC’s NewsDay on the World Service.
Njoku was interviewed alongside literary star, Chimamanda Ngozi Adichie, whose book, ‘Half of a Yellow Sun,’ has been made into a film.
In the interview, Njoku discussed the exciting business opportunities in Nigeria and said doing business with Nollywood and iROKOtv has been successful, also with the Spark start-up companies he has invested in, with his business partner, Bastian Gotter. He noted the challenges of doing business in Nigeria, but also asserted that Nigeria is a good place for entrepreneurs.
To him, doing Internet business is a great opportunity, as most of those individuals he came across, especially Nigerians, who successfully started exciting Internet businesses from Lagos and are leading the next generation of young, Nigerian entrepreneurs in online business.
iROKOtv, a business initiative of Njoku, was established over three years ago, precisely, September, 2010 and is headquartered in Lagos, with a branch in London, United Kingdom. Apart from Njoku, who presides over the company’s affairs, he works with Bastian Gotter, a co-founder along with a major investor, Nazar Yasin.
Njoku, a 2005 Chemistry graduate from the University of Manchester, United Kingdom, said his dream was to become a modern day capitalist. And to realise this, he foresaw the future of Nollywood and dived into it.
He was quick to know that the Internet revolution would soon swallow the film industry; hence, he created an online media distribution company with a focus on the Nigerian entertainment industry, Nollywood.
He set up iROKOtv as a web platform that provides free and paid-for Nigerian films on-demand, and it has now grown to become one of Africa’s first mainstream online movies steaming websites, giving free and instant access to over 5,000 and more Nollywood film titles.
How did Njoku nurture this dream to reality? Almost four years ago, Njoku sat down with his old friend, Bastian Gotter and told him about an investment opportunity in Nigeria, a precious resource that was sitting there, just waiting to be exploited, movies.
They got talking and one thing led to the other, until they were able to realise their dream of organising the Internet business, which has today grown to be Nigeria’s foremost mainstream online movie steaming website.