NIKOY Nigeria Limited has inaugurated two new subsidiaries. They are Work Hive Co-Work and Ace Wash N Dry Laundromat, including a co-working space for entrepreneurs.
Its Chairman, Olawale Oyedele, who disclosed this at the inauguration of the subsidiaries, said the new additions were part of the effort to diversify the company’s portfolio and help millenials in need of smart work space.
Oyedele said: “As a fallout of globalisation, Nigerian millennials are in dire need of technological-driven office space at reduced cost. Our corporate innovativeness has, therefore, brought about the decision to float Work Hive
“Characterised by the availability of all relevant facilities, including steady Internet access, the newly opened co-working space, Work Hive, is cost effective and flexible in payment tenure. It will also increase productivity, boost networking opportunities, create access to new clients and enhance businesses to grow faster.”
He said Laundromat would also embrace an advanced dry cleaning method being used in developed economies. “This business focuses on the imperative of modern-day technology, which is the love of our millennial teeming population. The self service business of dry cleaning, which can be done at the shortest possible space of time and at affordable cost, is gradually emerging in Nigeria,” he said
A former Central Bank of Nigeria (CBN) Governor Dr Joseph Sanusi who was at the inuaguration, said the two new businesses had been established on the pillars of integrity, skills value and determination to sustain quality services at affordable prices for everyone.
Sanusi urged the Federal Government to put incentives in place to encourage entrepreneurs to establish companies and create employment to boost the nation’s Gross Domestic Product (GDP).
“Apart from the provision of infrastructure, incentives, such as tax holiday, for about three years and the government’s patronage of the companies’ products and services will go a long way in encouraging our millennial entrepreneurs to actualise their vision and natural talent for productive ventures,” he added.
Stanbic IBTC Bank Executive Director Wole Adeniyi commended NIKOY management for diversifying its portfolio into laundromat and co-working space services.
“We’re here to appreciate the growth and diversification of our partner, NIKOY, to two new subsidiaries. Having banked a customer for over two decades, the relationship has cascaded from that of a customer to a partner. It’s not just another business, but this is about creating more opportunities, jobs, investment chain and other deliverables,” he stated.
Chairman, Olusegun Osunkeye and Associates, Chief Olusegun Osunkeye, said NIKOY had taken a bold initiative with the new subsidiaries. “It takes a lot of courage to set up new business in Nigeria due to the many aggravations and frustrations involved,” he added
Osunkeye urged the government to create a better business environment by reviving the country’s decaying infrastructure.
To Ace Wash N Dry Laundromat and Work Hive Managing Director, Ms Mojisola Oyedele, the inspiration to start the business came from some of her frustrations in getting laundry done by professionals, as well as the high cost and the longer time it took to get the actual work delivered.
She said she targets those from 25 to 40, who have great ideas but may not have the cash back up, adding that with N1,500 one could dry clean about 25 clothes.
On the work place space, she said arrangement had been made for people to come in and do their work for seven days, weekends, a month or a year.