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UNILAG, Ecobank Partner to Promote Entrepreneurship among Youths
Prof. Oluwatoyin Ogundipe, vice chancellor, University of Lagos has commended Ecobank for its consistent support for the promotion of entrepreneurship among students and youths across the country.
The Vice Chancellor, who was speaking while receiving Ecobank Management in his office ahead of the Investment Society, UNILAG Colloquium, said that the university would collaborate with the bank on such initiatives, stressing that partnership between operators in the financial sector and the academia in raising budding entrepreneurs would bring the much-needed development of the nation’s economy.
In particular, Ogundipe lauded Ecobank for partnering with The Investment Society – UNILAG, an association set up by some undergraduate students of the school to share and expand their knowledge of finance and consulting towards entrepreneurship.
He noted that such support was in tandem with the vision of the academic to raise self-reliant graduates rather than job seekers.
He announced that a University of Lagos Economic Summit has also been planned in this direction.
“We are glad to have you and your team here. Your financial support and physical presence in this Colloquium are clear indications that you are interested in building young entrepreneurs which also aligns with our vision as a university.
“Ecobank has been our good partner. We appreciate your support on some of our various programmes over the years.
“This is also an opportunity to seek your partnership for our up-coming Economic Summit and NUGA games. We seek stronger ties in this direction of raising young entrepreneurs,” he said.
Professor Ogundipe who reeled out some achievements of the institution, stated that only recently two of their lecturers won a combined sum of £1.2m (over N485m) as a research grant for the development of integrated solutions that would maximise employment opportunities and enhance the future of work in Africa.
Patrick Akinwuntan, managing director, Ecobank Nigeria, in his response, restated the commitment of the bank to partner with tertiary institutions in the country on initiatives that would enhance and promote entrepreneurship, scholarship and conducive learning environment across the country.
He assured that Ecobank would partner the University of Lagos on its planned Economic Summit and other initiatives that would widen the students’ entrepreneurial scope.
Akinwuntan reiterated that Ecobank, as a Group was committed to contributing to the economic development and financial integration of Africa, noting that Ecobank offered a natural advantage with its unmatched pan-African banking competencies, built up over the last 25 years.
“We are marshaling our impressively broad presence, our proficiency and our performance to support Africa’s development.
“We will continue to play a pivotal role as a pioneer in financial integration and inclusive banking in Arica.
“We operate in 36 countries in Africa with representative offices in Paris, Beijing, Dubai, Johannesburg and London.”
Furthermore, he said “we have made many pioneering achievements, many “firsts’ across various products and platforms in the Nigeria.
“We are the first to issue an international credit card in Nigeria – Ecobank MasterCard in 2004; pioneers in mobile banking with USSD *326#; first to offer QR code scan and pay (EcobankPay) which accepts payments from other platforms – mVisa, Masterpass and mCash; first to offer instant cards and so on.
“We have several youth friendly products and array of digital offerings that offer payment and transaction solutions.”
In his address at the Colloquium, Akinwuntan commended the students for coming together to form an association that would prepare them for the future in finance, investment and entrepreneurship, stating that Ecobank as a youth friendly Bank was committed to helping them achieve their goals and aspirations.
Akinwuntan, who was the Chairman of the event further advised the students to have set out goals and map out steps to actualizing them.
“As a Bank, we set out to support you because we believe in your vision and are prepared to assist you achieve it.
“As the future leaders of tomorrow, I challenge you to be innovative, resilient, be dedicated to your goals. You must have self-belief , the right mindset and be ready to dare to achieve the right results.”
Timileyin Idowu, president, the Investment Society, UNILAG, said the Colloquium was organized to provide a holistic platform for the smooth exchange of ideas among established and widely renowned professionals who have vast knowledge and experience in the investment and finance industry and the students.
While commending Ecobank and other sponsors of the event, she explained that the choice of the theme: ‘Driving investment in Africa through innovation and leadership’ and selection of facilitators were targeted at exploring how innovation and right leadership can attract investment to Africa and Nigeria in particular.
Entrepreneurs backed by the Tony Elumelu Foundation (TEF) have generated more than $4.2 billion in cumulative revenue since the organisation began its grant programme in 2015, according to Somachi Chris-Asoluka, chief executive officer of the foundation.
Chris-Asoluka, revealed this during a virtual media briefing, where she also stated that over $100 million has been distributed to nearly 24,000 young entrepreneurs across Africa.
She noted that the beneficiaries of the programme have gone on to create about 1.5 million jobs, both directly and indirectly, across various sectors of the continent’s economy.
The performance, she said, has strengthened the resolve of the foundation and its partners to scale up financial support for emerging businesses.
Chris-Asoluka emphasised that the foundation’s interventions are anchored on the conviction that entrepreneurship is central to reducing poverty and reshaping Africa’s economic future.
She explained that selected participants receive a $5,000 seed capital grant, in addition to structured business training and mentorship designed to help them either expand existing enterprises or establish new ones.
Highlighting operational challenges faced by entrepreneurs, she identified inadequate electricity supply as a major constraint.
According to her, many small businesses spend as much as 60 per cent of their earnings on alternative power solutions, including generators and inverters.
To mitigate this challenge, she disclosed that Tony Elumelu, TEF founder, alongside the foundation’s leadership, has been engaging governments across Africa on the urgent need to improve power infrastructure.
She further stated that investments by programme beneficiaries cut across critical sectors such as agriculture, artificial intelligence, manufacturing, and technology innovation.
Chris-Asoluka also announced that the foundation’s 2026 cohort of entrepreneurs will be formally unveiled by Elumelu in Abuja.
A new financial operations platform, Morney, has officially launched in Nigeria to help businesses face growing pressure to digitise their finance processes as the country’s shift towards electronic invoicing.
Developed by Morzoe Technologies Inc. and introduced locally through its partner, BuySimply Services Limited, the platform is designed to help organisations streamline and automate financial workflows.
Speaking at the launch, Head of Growth at BuySimply, ‘Mide Olubi, said many Nigerian organisations still depend on fragmented systems such as emails and spreadsheets to manage expenses, supplier invoices and payments.
According to him, this approach often results in inefficiencies, delayed processes, weak oversight and a higher risk of errors.
He noted that Nigeria’s increasing adoption of electronic invoicing and tax digitisation frameworks is accelerating the need for structured and transparent financial systems. Businesses, he said, must move away from manual processes and adopt platforms that provide clear visibility into financial operations.
Morney integrates payments, procurement, expenses and invoicing into a single system, enabling finance teams to automate approvals, monitor transactions in real time and maintain accurate records.
The platform also supports supplier onboarding and invoice processing, helping organisations better manage operational spending.
The company revealed that businesses across sectors such as FMCG, manufacturing, energy, banking and telecommunications are already adopting the solution to improve efficiency and strengthen financial control.
It added that the partnership with BuySimply reflects a broader trend of digital transformation, as organisations respond to evolving regulatory requirements and the demand for more efficient financial management systems.
Dr Krishnan Ranganath (Krish) to Lead UniCloud Africa in Continental Digital Infrastructure Push
UniCloud Africa Limited, the premier pan-African cloud platform dedicated to advancing the continent’s digital sovereignty, has announced the appointment of Dr. Krishnan Ranganath as its Chief Executive Officer.
Dr. Krish, a seasoned industry leader known for building and scaling digital infrastructure while maintaining rigorous operational excellence, steps into the role as UniCloud Africa accelerates its mission to redefine the continent’s digital landscape.
The appointment coincides with the groundbreaking launch and immediate availability of UniCloud Africa’s enterprise-grade Sovereign Cloud and Artificial Intelligence (AI) infrastructure across six key markets: Nigeria, Ghana, South Africa, Zambia, Senegal, and Mozambique, even as it plans to launch in Kenya, Tanzania, DRC, Uganda, Ethiopia and Côte d’Ivoire as part of further continental expansion.
Operating under the mission of “One Cloud, One Africa,” UniCloud Africa provides governments and enterprises with a world-class, fully compliant sovereign cloud alternative to high-latency offshore providers,ensuring a robust, scalable foundation tailored to Africa’s unique environmental and economic needs.
“UniCloud sits at the epicentre of Africa’s cloud evolution. We are committed to deploying 100% sovereign infrastructure across the continent. My focus is on driving high-growth partnerships and scaling the next generation of resilient, sustainable cloud infrastructure to accelerate the evolution of the African digital ecosystem,” said Dr. Krish, CEO of UniCloud Africa Limited.
He disclosed that his focus at UniCloud Africa is on driving high-growth partnerships and scaling the next generation of resilient, sustainable cloud infrastructure, and will deploy GPUs in certain economies based on market potential and need.
While admitting that the challenges from AI integration to the green energy transition are immense, Dr Krish believes that the opportunities are greater. “I am eager to collaborate with our partners and customers to redefine the digital frontier and accelerate the evolution of the African digital ecosystem,” he added.
Ladi Okuneye, Co-founder and outgoing CEO (who remains as a director on the board) remarked: “As we enter this new chapter of growth, I am confident that Dr Krish’s extensive experience in the African digital landscape will add immense value. His technical depth and regional insight make him the ideal leader to drive UniCloud Africa forward.”
Before he was appointed CEO of UniCloud Africa, Dr. Krish was, until last month, the Regional Executive – West Africa at the Africa Data Centres (ADC).
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