Startup Story

Olubukola Abitoye is the Managing Director and CEO of Digital Space Capital in Nigeria, a comprehensive financial services provider covering Investment Banking, Asset Management, Insurance, Micro Banking, and Fintech, with her own digital savings solution app, Digikolo. The business launched in 2020 and today employs 104 people. Olubukola is a highly accomplished finance professional with a wealth of experience in the banking and finance industry. She is also the CEO of WeBrandIt Limited and the owner of Eco Cleaning Services Limited.

Olubukola is a distinguished Associate of the Institute of Chartered Accountants of Nigeria (ICAN) and the Nigerian Institute of Management (NIM), and is a Chartered Member of the Institute of Directors, Nigeria. She also holds the ACI certification and is a member of the Treasury Dealers Association of Nigeria. She played a pivotal role in establishing Sky Capital Financial and Allied Services Limited, where she led a dedicated team.

Her educational journey began at St. Helen's Unity Secondary School in Ondo State and culminated in a bachelor’s degree in management and accounting from Obafemi Awolowo University. Additionally, she holds a master’s degree in business administration from Charisma University in North America. Beyond her professional achievements, Olubukola is the founder of the Florence Modupe Foundation (FMF), demonstrating her commitment to philanthropy. Her dedication to continuous learning and professional development is evident through her recent Doctoral Fellowship from the International Certified Risk Management Professionals in the United Kingdom, as well as her status as a Fellow of the Chartered Institute of Loan and Risk Management of Nigeria. Olubukola’s life is a testament to her exceptional career in finance and her contributions to the community.

LoA spoke to Olubukola Abitoye about her entrepreneurial journey and her vision for the future of her business.

What does your company do?

We are a one stop-shop for value in wealth creation and management. Our core is Financial Services which includes Asset Management, Micro banking, Financial Advisory and Consultancy, Insurance, Loan Services & Recovery, Branding, and Real Estate.

What inspired you to start your company?

Since my childhood, I have harbored a vision rooted in a deep sense of responsibility and care for others. Whether serving as a class captain, senior prefect, or facing challenges at UBA, my commitment to ensuring the well-being of those around me has remained steadfast. During my tenure at UBA, a significant turning point arose when I took charge of a branch on the verge of closure. Despite the challenges, I embraced the opportunity to own the entire process, turning the branch into a lucrative venture that generated unexpected income exceeding seven to eight hundred million. Regrettably, the recognition due to me was withheld, prompting me to reassess my professional trajectory. This experience fueled my determination to establish an organization that not only recognizes and rewards efforts but also instills a sense of ownership and belonging among its members. During my usual personal retreat after this experience, I conceptualized the idea for Digital Space Capital and its various components. The inspiration came from a desire to provide a supportive and motivating workplace for employees, addressing the shortcomings I observed in larger organizations where I had worked. My goal is to create a positive and lasting impact, celebrating successes, and fostering a supportive environment.

Why should anyone use your service or product?

The key elements that make our business, service, or product special are rooted in our commitment to exemplary customer service and a focus on providing unique value to our customers. In a competitive industry where products and services may seem similar, we distinguish ourselves by prioritizing the customer experience. Our approach involves a deep understanding of the market and a commitment to tailoring our services and products to suit the specific needs of our customers. We recognize that, ultimately, the only thing we can sell to people is value. This value proposition is not only about the inherent quality of our products but also about creating an environment that enhances the overall customer experience.

A significant aspect of our strategy is the constant review and adaptation of our services to keep pace with evolving technologies and market trends. We emphasize creativity and innovation, understanding that technology can become obsolete over time. By staying ahead of the curve, we ensure that our services remain relevant and effective. Furthermore, we place a high value on customer feedback and conduct surveys to gauge satisfaction. This ongoing interaction with our customers allows us to continually improve our offerings and address any concerns promptly. We view our customers as the lifeblood of our business, and their needs guide our product development and service delivery.

In addition to delivering value, we recognize the importance of providing a comfortable and stress-free environment for our customers. Whether it's through our physical spaces or digital platforms, we prioritize creating an ambience that aligns with the modern customer's expectations. Time efficiency is crucial, and we align with the current trend towards digital operations to ensure that transactions are completed seamlessly and without unnecessary delays. In essence, what makes our business special is a combination of outstanding customer service, a commitment to delivering value, adaptability to technological advancements, and a focus on creating a positive and efficient customer experience.

Tell us a little about your team

Our team at Digital Space Capital is truly exceptional. If I were to encapsulate them in a single phrase, I would describe us as a young, dynamic, and dedicated group of individuals who consistently go the extra mile to deliver outstanding service. As a leader, I understand that success in any organization is not solely about giving orders, especially considering the limitations of an individual, even with the aid of machines. The significance of a cohesive team cannot be overstated. The qualities our team members bring to the table, including their creativity, motivation, and comfort within the team, are crucial elements in building an excellent team.

I firmly believe that true leadership is about fostering a shared vision among team members who believe in the cause. At Digital Space Capital, I take pride in stating that we have an outstanding team. What sets us apart is our collective mindset – from the gateman to the CEO and board members, we all consider ourselves salespeople. This mindset stems from the understanding that when you feel like part of a business, you inherently become an owner. This ownership mentality instills a spirit of going the extra mile because each team member believes in the vision and understands the collaborative effort needed to achieve the organization's goals. Our team is characterized by youth, dynamism, and excellence. We are not just willing but intentional about achieving success swiftly. Each member is meticulous and adept at turning challenges into opportunities, showcasing a remarkable ability to make lemonade out of lemons.

Share a little about your entrepreneurial journey. And do you come from an entrepreneurial background?

I am from an entrepreneurial background where my father was in different businesses at the same time with lots of staff at his beck and call. I lost this rare gem at the age of five and my mother immediately stepped in to fill his shoes with a more aggressive business orientation. My entrepreneurial journey has been deeply influenced by my upbringing. During holidays, I observed my mother's success, and we often visited various workplaces, fostering in me the idea that one could earn by contributing like any other professional. This realization fueled my belief that one could derive value and income from one's skills and efforts.

As I grew older, especially in the absence of my father, I developed a sense of independence. I saw myself as an individual capable of providing solutions to challenges. This mindset laid the foundation for my aspiration to establish my own organization and contribute to the growth and development of individuals, turning them into highly skilled professionals. Even during my time in conventional employment, I maintained an entrepreneurial spirit. I ensured I had additional pursuits that didn't conflict with my primary job but provided supplementary income. These ventures included involvement in various network marketing opportunities such as GNLD, FVLP, and Forever Living, dating back to about a decade ago. This diversification was a testament to my belief that opportunities could be identified and pursued, regardless of one's current circumstances.

In essence, my entrepreneurial journey has been a constant pursuit of identifying and capitalizing on opportunities. I have never solely relied on a fixed income; instead, I actively sought out possibilities and worked to materialize them, ensuring productivity and growth at every step of the way. This built the zeal to succeed and be an entrepreneur and I have been a major player in different industries predominantly finance and I am not stopping on this entrepreneurial journey.

What are your future plans and aspirations for your company?

Our future plans center around Digital Space Bank (DSB), aspiring to make it a household-name bank in Nigeria and Africa. DSB aims to be a financial partner accessible to all tiers of society, providing a range of services from microfinance and commercial banking to mortgage solutions. The vision includes making a significant impact on the lower tier, and ensuring financial inclusion and support.

What gives you the most satisfaction being an entrepreneur?

The most satisfying aspect of being an entrepreneur is the ability to make a meaningful impact, create positive social change, and contribute value to society. The journey has strengthened my entrepreneurial abilities and reinforced the importance of identifying and seizing opportunities.

What's the biggest piece of advice you can give to other women looking to start-up?

For women looking to embark on entrepreneurial journeys, my advice is rooted in determination, courage, consistency, and self-belief. Overcoming gender inequalities requires a steadfast commitment to one's goals, continuous learning, and seeking mentorship from positive influences. Equipping oneself with knowledge and maintaining focus on the end goal amidst distractions is key to success.

Find out more:

Email: info@digitalspacecapital.com

Website: http://digitalspacecapital.com

Instagram: http://linktr.ee/digitalspacecapital

Pinterest: http://linktr.ee/digitalspacecapital

Why LoA loves it…

Finding a gap in the market is always key to business success. For Olubukola Abitoye that gap is in wealth creation and management, creating a value proposition not only about the quality of the products on offer but also about an enhanced overall customer experience. She recognizes that customers are the lifeblood of her business, and therefore growing a happy customer base means growing a healthy business. — Melanie Hawken, founder & ceo, Lionesses of Africa