In the world of entrepreneurship, success stories often emerge from unexpected places, showcasing the resilience and determination of individuals who dare to dream big. Dr. Mark Akhabue, is a shining example of such an entrepreneur, who defied the odds and transformed his career, from a humble accountant to a retail tycoon.
His story serves as an example of the value of perseverance, foresight, and grasping chances, across a variety of industries. This piece will examine Dr. Akhabue’s remarkable journey to success, starting from his humble beginnings and continuing through the founding and expansion of Jendol Superstores.
Dr. Mark Akhabue, has had an exciting career path. Compared to most professionals who focus their careers on one or two areas, Dr. Akhabue took on leadership positions, in four different industries. His foray into the retail sector with Jendol Superstores, was made possible by the invaluable experience and knowledge, he acquired in the healthcare, aviation, and oil and gas industries.
Education and Early Career
Mark Akhabue, hails from Iruekpen Ekpoma, a clan in the Ishan Tribe of Esan West Local Government, Edo State, Nigeria. During his time in school, he was named Senior Prefect at Iruekpen Grammar School, in Ekpoma. After graduating from primary school , he went to study at Edo State University, which is now Ambrose Alli University, Ekpoma, to pursue an accounting degree. In 1997, he obtained his B.Sc. in Accounting, and later pursued a Masters in Business Administration from the University of Calabar, in 2002.
Mark Akhabue’s professional journey, began in the year 2000, when he joined Rail Ad Limited, as a Finance Manager. After four years, he went to the aviation sector, where he became a part of Virgin Nigeria Airlines Limited. During his appointment, he held multiple positions, including Accounts Officer, Station Accountant, and Cost and Management Accountant. In November 2008, he took on the role of Head of Treasury and Cash Management, where he played a key role in managing working assets, building finance relationships, and carrying out cost management strategies.
Mark Akhabue, entered the oil and gas industry in 2009, which changed the course of his career. As Group Head of Finance and Administration, he joined Advantium Oil & Gas Nigeria Limited.
In 2012, Mark Akhabue made yet another change, when he joined the healthcare industry. He began as a Chief Accountant at Hygiea Nigeria Limited (Lagoon Hospital), and climbed fast to become the Financial Controller.
Founding Jendol Superstores
Dr. Akhabue, started Jendol Superstores in November 2016. He had already established himself in the oil and gas industry before this, managing filling stations in Lagos for Jendol Petroleum. Nonetheless, Dr. Akhabue saw the retail market’s promise, especially in places with a high population density. His goal was to create a top-tier food retail brand, that would serve Nigerian customers.
Quick Growth and more Growth Jendol Superstores, with its main office in Lagos and several stores throughout Nigeria, has grown quickly, growing its capital by more than 5,000% in just seven years.
In a short period of time, a single store with 26 employees developed into a large retail empire. With its headquarters located in Lagos, Jendol Superstores opened several locations throughout Nigeria and hired more than 2000 people. Dr. Akhabue’s extensive background in various commercial endeavors, which enabled him to provide a unique viewpoint and strategic approach to the retail market, is responsible for the company’s rapid growth and success. Dr. Akhabue, took advantage of his knowledge in customer psychology and market dynamics, to catapult Jendol Superstores to new heights.
One of the key factors that contributed to the success of Jendol Superstores, is its focus on serving the under-served market. Dr. Akhabue recognized the potential in targeting densely populated areas, that lacked access to quality grocery retail options. By providing a wide range of products at competitive prices, Jendol Superstores became a trusted destination for customers seeking convenience, affordability, and a diverse selection of goods. This commitment to meeting the needs of the under-served market, allowed the brand to build a loyal customer base and gain a competitive edge, in the retail industry.
Building a World-Class Grocery Retail Brand
Jendol Superstores, set out to change the grocery retail industry from its inception. The goal of Dr. Akhabue’s mission was to develop a world-class shopping experience, that could compete with global retail behemoths. He made significant investments in personnel training, technology, and infrastructure to do this. In order to give its consumers a seamless and enjoyable shopping experience, Jendol Superstores adopted contemporary retail techniques, put effective supply chain management systems in place, and gave priority to customer care. These initiatives attracted in new clients and improved the brand’s standing.
Jendol Superstores, uses modern technology to improve their consumers’ shopping experiences. In order to increase efficiency, maintain accuracy in inventory management, and simplify operations, the company has come up with advanced technologies and procedures. Jendol ensures a smooth and convenient purchasing experience, for its clients using technology.
Customers are able to stay updated and engaged, by Jendol Superstores’ active social media presence. Jendol interacts with its followers on social media sites like Facebook, Twitter, and Instagram, by posting updates, exclusive deals, and interesting material. Customers can engage with the brand online, and use it as a forum for conversation and feedback.
Dr. Akhabue, understood the value of partnerships and teamwork in promoting corporate expansion. He actively sought out chances to work with development finance organizations, and private equity investors over his entrepreneurial career. These partnerships brought in important experience and industry knowledge, as well as the funding required for growth. Jendol Superstores, was able to expand into new areas, quicken its rate of expansion, and establish itself as a dominant force in the retail sector, by taking advantage of these partnerships.
Overcoming Challenges and Embracing Innovation
There are challenges that come with starting and growing a retail business, just like in any other entrepreneurial endeavor. Despite facing challenges along the road, Dr. Akhabue approached them with resilience and a dedication to creativity. To keep ahead of the competition and satisfy changing client expectations, he embraced e-commerce, used data-driven initiatives, and embraced technical improvements. Jendol Superstores maintained their leadership position in the retail sector, by consistently adapting to market trends and customer preferences.
The success of Dr. Akhabue, goes beyond his professional accomplishments. Throughout his career, he has also placed an emphasis on social responsibility and social impact. Jendol Superstores has made a significant contribution to community development, economic expansion, and job creation. The company has improved people’s lives both individually and collectively, through a number of CSR activities. In addition to pursuing financial success, aspiring entrepreneurs can learn from Dr. Akhabue’s dedication, to giving back and changing the world.
He is one of the co-founders of the non-profit Mark & Kemi Foundation, which aims to better the communities and lives of the underprivileged. He also has a Bureau De Change (BDC), and sits on the boards of Floodgates Insurance Brokers Nigeria Limited, Kema Travels Nigeria Limited, and Keose Ventures Nigeria Limited, among other commercial ventures.
Mark Akhabue, received an honorary Doctor of Science degree in Petroleum Sector Management & Company Growth, from the European American University of the Dominican, in July 2020, as a result of his services to the petroleum industry and company growth. This prestigious award, is testimony to his amazing achievements and commitment to his career.
Dr. Mark Akhabue’s remarkable path, from accountant to retail mogul, serves as an example to the strength of perseverance, hard work, and intelligence. He stands out in the business sector, thanks to his quick development of a top-notch retail brand. The life of Dr. Akhabue, is an inspiration to young entrepreneurs, who have the bravery to go after their dreams and follow their passions. Dr. Akhabue, is a real role model for the business community, because of his sustained success and dedication to having a positive influence.
