Martins*, a Nigerian entrepreneur in his late forties, once ran two successful wholesale alcohol outlets. Yet, just two years after opening his second shop, he was forced to close down. When a friend suggested his business could have survived with better financial management, Martins shifted blame to the government, citing corruption as the primary cause of economic instability.This reaction reflects a common mindset in Africa, where government accountability often dominates discussions, while the need for personal and business financial responsibility is overlooked. Many businesses in the region fail not just because of external factors like unstable economies or limited access to funding but also due to internal issues like poor financial literacy and management.Recognizing these challenges, Temi Adenuga launched Accountable in 2018. After years of experience in accounting, auditing, and tax management for medium and large enterprises, Adenuga envisioned a platform to help African businesses build lasting legacies through financial discipline and strategic planning.
What Accountable Offers
Accountable operates on a subscription-based model, providing services in four core areas:
1. Process Improvement: Helping businesses streamline operations to focus on customer value.
2. Bookkeeping: Offering detailed financial insights to track performance, profitability, and critical areas for improvement.
3. Tax Management: Simplifying the complex tax systems in Africa and identifying cost-saving opportunities within legal frameworks.
4. Succession Planning: Designing strategies for smooth business transitions and unlocking growth opportunities.
Clients and Reach
Over the past four years, Accountable has worked with notable clients such as Synlab Nigeria, Alliance Française Lagos, Bogobiri Limited, and Nguvu Health. While its primary client base is in Nigeria, the company also serves businesses in the UK and Ghana, with plans to expand to other African countries like Kenya, Rwanda, and South Africa.This expansion aligns with trends like increasing cross-border business activity, mergers and acquisitions, and the rise of sustainable investing. Adenuga explained that navigating these developments requires a firm grasp of financial and regulatory frameworks, alongside tailored strategies to support business growth.
Beyond Advisory Services
Accountable’s offerings extend beyond financial advisory. Acknowledging the difficulties African businesses face in securing funding, the company helps clients craft financial strategies and connects them with potential investors and lenders.The company has also dedicated a team to support small and medium enterprises (SMEs), offering financial literacy programs, compliance guidance, growth strategies, and access to accounting tools like Xero, QuickBooks, and Sage. Additionally, Accountable partners with law firms and insurance providers to deliver comprehensive business solutions.
Future Goals
Adenuga emphasizes that the company’s mission goes beyond numbers. By leveraging technology, building a skilled team, and expanding its product offerings, Accountable aims to be a trusted partner for businesses across Africa. The ultimate goal? To empower businesses to thrive long after their founders step away.As African enterprises face evolving challenges, platforms like Accountable offer a lifeline, fostering the financial discipline and strategic foresight needed to navigate uncertain terrains and achieve lasting success.
