Prognosy began operation in Lagos, Nigeria on 21st March 2011. Tiwadayo Braimoh, a pharmacist, was just about concluding his master’s degree in business administration (which he took part-time as an employee of a private firm in Lagos) and wondering how to convert his knowledge and experience to value when he received a phone call that motivated him to establish the company. The call came from a retail store apprentice that he knew casually in Kaduna at the beginning of his career while working as a marketing representative.
This apprentice was thrown out unceremoniously after several years of working without any wage and he wandered from Kaduna to Lagos searching for what to cling unto to make a living. The tradition and unwritten contract of his apprenticeship was for his boss to provide capital and support him to start his own business, but he got nothing after serving for nearly a decade.
Driven by a desire to create an opportunity for the despondent young man, Prognosy Pharma Limited was born. With the indispensable help of the founder’s passionate wife, Mrs. Foluke Braimoh and anchored on the personal principles of forthrightness, compassion, and generous spirit of the founder, Prognosy crawled, walked, and has run for nearly 10 years.
We started with money just enough to rent a store 18 square meters in size and procure shelves but grew from bottom up debt free and 100% from earned income of the family. Our successes did not happen without challenges. The hugest in terms of threat to our existence occurred right at the beginning. Our first outlet was sealed off by the regulatory authority just a week after opening, on the ground that the space of our store was below 30 square meters which we learnt for the first time then to be the minimum requirement. We were made to pay fine for violating this rule and made to swear to an oath in a court that we would never open the store again. Meanwhile, we had invested all that we had.
Obviously, we navigated this obstacle and managed to overcome many other barriers on our path. Today, the steadfastness of our stewardship has resulted in the provision of employment directly to over 80 people.
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