News
New Horizons, BMS Hold Coding and Robotics Challenge for Students
In the drive to promote technopreneur skills in High school students, New Horizons Nigeria in partnership with Baptist Mission Schools has held a Coding and Robotics Challenge for students.
The competition which started in February saw the grand finale held on the 24th of March 2022 at Bowen University, Iwo, Osun State. During this event, students worked in teams to design their robot and projects with the help of a mentor who trained them on a regular basis.
Thereafter, each team submitted a design, business plan, and video pitch of their projects. The competition started with 3,782 students at the school levels, 117 students qualified for the Zonal levels while 47 students qualified for the finals.
Speaking at the event, Mr. Tim Akano, MD/CEO New Horizons said, “The future of Nigeria lies in the expertise with the fourth industrial technologies which include coding, Robotics, Artificial Intelligence, IoT, Blockchain, Cloud security, and Cyber security.
“It’s on that basis New Horizons Nigeria partnered with Baptist Mission school to develop the yearly coding and Robotics competition as the first phase for comprehensive fourth industrial competition amongst students which will include other mission schools like Redeemers, Catholic, Anglican, Methodist, and Deeper life. We achieve all of this with our strategic partnership with international vendors like EC-Council, PMI, ISAACA, Oracle.”
Eralier on, the Director of Baptist Mission Schools, Dr. Tide Olalere, said “We are poised to ensure our children are not left behind in the 21st century ICT education.”
He disclosed that qualified schools were judged based on App prototype, Presentation slide, Business plan words for the code/robot description, Creativity, Design, Potential Usefulness, Technical Skill, and Presentation. Winners were awarded cash prizes at every stage of the competition and a certificate of participation.
In attendance at the finals was the Vice-Chancellor of Bowen University, Prof. Joshua Olalekan Ogunwole (host); Education Management Board Chairman, Prof. Oyesoji Aremu; Director Baptist Mission Schools, Dr. Tide Olalere; Head, Quality Assurance and Inspectorate, Dn H.O. Alamu; Head, Finace, Dns. Bayonle Bamidele; Head, Human Resources, Rev. Mrs. B.A. Ladoba; Head, Audit, Pastor Innocent Josiah; Head, ICT, Dr. Kayode Oladapo; Chief Accountant, Mr. M.A.O. Adeojo; Mrs. T. Amune, ZEA, New Horizons Nigeria represented by Oluseyi Fakoya, General Manager Schools.
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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