News
TLcom Capital Appoints Eloho Omame as Partner
TLcom, the Africa-focused venture capital firm, has appointed Eloho Omame as a Partner, bolstering its capabilities as it ramps up deployment of TIDE Africa Fund II, its new $150mn pan-African tech fund.
As well as focusing on the firm’s traditional remit of seed to Series B investments in high-growth, tech-enabled startups, Eloho will bring more senior capacity to TLcom’s high-touch approach with entrepreneurs and support deal flow generation at the pre-seed stage, as TLcom doubles down on its commitment to Africa’s thriving tech opportunity. There will be even greater emphasis on attracting more female-led companies into TLcom’s portfolio.
Eloho is a Co-Founder & General Partner at FirstCheck Africa, a female-focused early-stage venture capital firm that has to-date invested in ten high-growth tech start-ups with a female founder or co-founder.
Eloho will combine her new role at TLcom with her existing responsibilities at FirstCheck Africa, which was founded in January 2021 to address the severe funding gap for Africa’s female tech entrepreneurs. TLcom will also support the launch of FirstCheck Africa’s $10mn debut fund with a $2mn co-investment commitment from its TIDE Africa Fund II.
With a professional career spanning more than 20 years, including time at General Atlantic, FirstBank Nigeria and Credit Suisse, Eloho brings a wealth of expertise to the team.
An important contributor to the startup and venture capital ecosystem in Africa, she has worked with several of Africa’s leading entrepreneurs, companies and teams, supporting their ambition to transform the continent’s heavily underserved markets and economies.
As the founding Managing Director of Endeavor Nigeria, she led the company’s mission to drive high-impact entrepreneurship, creating a leading membership community that includes tech founders from pioneering startups such as Paga, Migo and Flutterwave.
Eloho’s track record in early-stage investing will prove vital as TLcom expands its current portfolio from 13 companies to 30. With TLcom widening the range of its core ticket sizes to $500k – $15mn, the firm will continue to primarily target seed to Series B founders that are tackling some of the continent’s most complex challenges in sectors including fintech, mobility, agriculture, healthcare, education and ecommerce. Geographically, TLcom will expand its traditional focus on East and West Africa to include North Africa, starting with Egypt.
Speaking on TLcom’s expansion and the appointment of Eloho, Maurizio Caio, Founder and Managing Partner at TLcom, says “With the launch of our new fund, we are more committed than ever to Africa. As we partner with more entrepreneurs, it is vital that we are able to maintain our existing level of high-quality, on-the-ground strategic support to unlock the full value-generation potential of these companies. With our portfolio companies, and our investors, we are building for the long term and fully focused on the upside of the tech sector.”
“We are especially proud to strengthen our team with a Partner of Eloho’s calibre — a seasoned investor who mirrors our founder-first ethos, and will play a critical role in enabling us to deepen our commitment to the founder journey in Africa through her early-stage experience.
“Equally, her expertise will prove invaluable in strengthening our existing support for female entrepreneurs. We look forward to working with Eloho to drive the next phase of our mission to transform Africa’s key verticals through tech-enabled solutions.”
Following the first close of its new $150mn fund announced in January 2022, TLcom has gained even greater momentum, with a number of additional commitments to its fund and significant new deal flow for its growing portfolio. The firm recently led a $10mn Series A round in Seamless HR, a Nigerian platform providing payroll and HR software-as-a-service (SaaS) solutions to companies in Africa and a seed round in Pastel, a Nigerian fintech company.
Eloho Omame, Partner at TLcom, adds “It’s an honour to join one of the most prestigious investors in African tech. TLcom has seen the benefits of an early-stage approach through the success of both new and repeat founders in TIDE Africa Fund I. As we deploy capital from TIDE Africa Fund II, it’s crucial that we continue to win the race to find the continent’s best entrepreneurs and support their companies to scale.”
“The firm has always demonstrated its commitment to Africa and to the development of its startup ecosystem. It’s exciting to be in a position of mission-alignment with respect to female founders and I’m thrilled to step up the important work we’ve started at FirstCheck Africa with this incredible show of support from an established, high-calibre fund like TLcom.”
Eloho’s appointment increases TLcom’s experienced and growing team from four to five Partners, comprising Founder and Managing Partner Maurizio Caio based in Kenya, Senior Partner Omobola Johnson based in Nigeria, and Partners Andreata Muforo in Kenya, and Ido Sum in the UK. With the new addition, TLcom’s senior leadership is now 60% female.
Telecommunications services provider, Globacom, has admonished Nigerian workers to reflect on more ways of contributing further to the growth of the country.
In a solidarity message on the occasion of the 2024 International Workers’ Day, the company noted that Nigerian workers were resilient in spite of the challenges they encounter in the course of discharging their duties.
The telecommunications giant further noted that the story of Nigeria cannot be adequately chronicled without acknowledging the immense contributions of workers, both in the public and private sectors.
The day is observed on May 1 yearly in recognition of the contributions of workers all over the world and to advance fairer and more sustainable future by advocating for workers’ rights.
“We salute Nigerian workers on this day and commend them for the hard work, commitment, resourcefulness and industry which are essential for the growth of the economy of any nation,” Globacom said.
CWG Plc has announced a significant milestone in its commitment to delivering value to shareholders. Following a thorough review of the company’s financial performance and outlook, the Board of Directors has approved a substantial increase of 400per cent in dividend payout to shareholders.
This decision reflects CWG’s confidence in its financial stability, growth trajectory, and ability to generate sustainable returns. By enhancing the dividend payout, CWG aims to reward shareholders for their continued trust and support while reaffirming its commitment to creating long-term value.
Mr. Philip Obioha, Chairman of the Board of Directors at CWG Plc, said, “The decision to approve a 400% increase in dividend payout underscores our confidence in CWG’s performance and outlook. We are dedicated to delivering value to our shareholders and believe that this significant dividend increase is a testament to our commitment to shareholder value creation.”
This increase in dividend payout aligns with CWG’s strategic objectives to prioritize shareholder interests and maintain strong financial discipline. The Board remains committed to prudent financial management and sustainable growth, ensuring that CWG continues to be a reliable investment for shareholders.
As CWG continues to execute its growth strategy and expand its presence in the market, the Board anticipates that the increased dividend payout will further strengthen investor confidence and support CWG’s vision for the future.
CommunicationsWeek Media Limited, a certified global ICT company with over two million online subscribers, is delighted and proud to announce Prof. Yakub Aliyu, as the keynote speaker at Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture series 2024.
Aliyu, will be speaking on the theme: Artificial Intelligence (AI): The Good, The Complex and The Anticipated”, this leans heavily on the fact that AI changing our lives– we just need to know where to look today.
This year’s rebranded Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture/Awards Series is slated for Saturday, May 25, 2024 at the Four Points by Sheraton, Lagos.
The event is the most prestigious annual event that brings together captains of industry in both technology and financial worlds.
According to Ken Nwogbo, CEO, Communication Week Media Ltd, organisers of the ABoICT Distinguished Lecture/Awards Series, “the choice of Prof. Yakub Aliyu is deliberate because of his exceptional career in Artificial Intelligence (AI)”.
He added that, AI is considered to have the potential to instigate a fourth industrial revolution,1 and is dramatically changing people’s patterns of interaction and economic activities.
“The traditional factors of production and physical capital and labour may no longer promote substantial economic growth. It is generally believed that AI will be one of the most important factors determining future economic growth,” he said.
A professor of microelectronics and a scholar-practitioner in artificial intelligence and deep machine learning for industrial applications and high-speed application processors. His research interests include Multimodal AI models for high-efficiency industrial robot applications and Human AI interactions.
He also has adjunct academic professorships at five African, USA, and UK universities. Holds a BS in Applied Physics Electronics from Karlsruhe and A Bello Universities in Germany and Nigeria, an MBA in International Business Management from the University of London, an MSEE (Master of Engineering, Electronics), and a Ph.D. in Electronics Engineering from the University of Wales.
Prof. Aliyu is the global quality director for Bourns Inc., Riverside, California, USA, an electronics system, and components manufacturer. I oversee quality functions in 21 factories worldwide.
He has also held quality and operational management leadership positions at National Semiconductors, Bell Labs-Lucent Technology, Texas Instrument, Global Foundries, and Roper Technologies USA.
Authored and coauthored over 30 Advanced Technology United States-issued patents in High-Speed Application Processors and Contributed to over 40 international impact Journals, chapters, and conferences; FASI, SMIEEE USA, MIEE UK, M. Inst pf Physics Chartered Phys and C Eng UK.
Past lecturers included Dr. Ernest Ndukwe, then executive vice chairman, Nigeria Communications Commission (NCC); Engr. Yomi Bolarinwa, former Director-General of National Broadcasting Commission (NBC); Dr. Jean Luc Fort, CEO at OR System France and a specialist in Counterparty Risk; and Professor Chris Nwagboso, Chairman, Knowledge Factory International, United Kingdom.
Others are: Uche Orji, managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodu Omoniyi, Managing Director/CEO, VDT Communications; Ayotunde Coker, Managing Director, Rack Centre Limited; Peter Adedayo Arogundade, managing director and chief executive officer, Sidmach Technologies Nigeria Limited; Dr. Adewale Obadare, chief visionary officer, Digital Encode and John Obaro, CEO and founder of Systemspecs; Prof. Isa Pantanmi, minister of Communications and Digital Economy; Dr. Seyi Akindeind, co-founder, Digital Encode; Dr Krishnan Ranganath, Regional Director, Africa Data Centres.
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