News
CFA’s Startups Hangout Slated for November 24

By Justice Okemgba
The November 2017 edition of CFA’s Startups Hangout, will be the last for this year, is slated to come up on Friday, November 24, 2017 by 5:00pm and this edition will be featuring the second Startups Pitch session in the series.
This is aside the successful entrepreneurs that have been invited to speak to the Startups. They are John Obaro, MD, SystemsPecs (Remita) and Jane Egerton-Idehen, Country Manager, Avanti Satellite Communications.
John Obaro, managing director of SystemSpecs, (Remita), which is today, Nigeria’s leading e-payment provider, through its Remita solution. It is currently the Central bank of Nigeria’s, (CBN), adopted payment gateway for the facilitation of the Federal Government’s Treasury Single Account, (TSA), project, processing about N6billion worth of transactions on Monthly basis.
John Obaro is an alumnus of both Ahmadu Bello University, Zaria and University of Lagos as well as the Chief Executive Program, (CEP3), of Lagos Business School.
He has served, at various times, on the Boards of Ministerial Advisory Council on Information and Communication Technology, Institute of Software Practitioners of Nigeria, Computer Professionals Registration Council of Nigeria, (CPN), and many more.
Jane Egerton-Idehen, Country Manager, Avanti Satellite Communications, has garnered12 years plus experience in the industry. She focuses on bridging the business and technical challenges of managing complex, high-value business relationship in the industry, having managed operations for Multinational telecommunications Companies, such as Nokia Siemens and Ericsson, in countries in Sub-Saharan Africa.
Jane is a graduate of Electronics Engineering from the University of Nigeria, Nsukka, , with an Executive education from Harvard University and an MBA from Warwick Business School.
I have no doubt that attendee Startups will be in a position to learn a lot from these two unique personalities at the forthcoming November edition of CFA’s Startups Hangout.
Last Month, we had Wale Ajisebutu, Vice Chairman/CEO, 21st Century Technologies and Nkiru Balonwu, PhD, Managing Partner, RDF, speak to the attendee Startups on very useful issues that they will need to know and do, to enable them run their budding businesses profitably and successfully.
Some of the other past speakers have also featured prominent successful Nigerian Entrepreneurs, such as Wale Ajisebutu, Vice Chairman/CEO, 21st Century Technologies, Nkiru Balonwu, PhD, Managing Partner, RDF, Austin Okere, Founder, CWG, Banke Alawaye, Country Manager, Praekelt, Chinenye Mba-Uzoukwu, CEO, InfoGraphics, Afolabi Abiodun, CEO, SB Telecoms and Devices, Bolaji Finnih, CEO, TechPreneur Africa and Ommo Clark, CEO, iBez Solutions. Nadu Denloye, PhD, Co-Founder of Telnet and Director,CDNet, Deepankar Rustagi, the Co-founder, VConnect, Adeoye Abodunrin, ED,Xpos Technologies, Simeon Ononobi, Co-Founder, MyAdsGlobal, Helen Anatogu, CEOand Founder, iDea Nigeria, and Yele Okeremi Founder of Precise Financial Systems and others.
Startups that are interested to participate in the Pitch session that will also be coming up during the November edition of the CFA’s Startups Hangout, should visit https://goo.gl/forms/MhXZyVay4A0AeemX2 and register for it.
The November 2017 edition of CFA’s Startups Hangout will be sponsored by TAMS and Remita.
We also thank our Media partners, Guardian Tech, NigeriaCommunications Week, Connectnigeria, ITPulse, Cyber Africa and Technext.ng for their continued support in publicising the event for the benefit of our numerous Startups.
Limited seats are available, hence, you need to register early, to book for a seat at the event.
You can register for the October 2017 edition of CFA’s Startups Hangout @ http://startups.cfatech.ng
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EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

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.
News
Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

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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