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Abuja Residents Applaud Glo for Laffta Fest

Residents of the Federal Capital Territory, Abuja last weekend eulogised telecommunications giant, Globacom, as its stress-busting flagship comedy show, Glo Laffta Fest, hit the capital city.
The event which held at the Old Parade Ground in Garki, was witnessed by a capacity crowd which came from all the nooks and crannies of the FCT and as far as neighbouring Nasarawa State.
Excited residents attested to the fact that in the more than three decades’ existence of the Abuja landmark, only very few corporate organisations had achieved the feat that Globacom recorded with the iconic show.
Jos-based comedian, Osama, opened the show with rib-cracking jokes and anecdotes about life in the pseudo-militarised city of Jos.
MC Tagwaye, who is noted for perfectly mimicking President Mohammadu Buhari, raised the bar as he reeled out jokes bordering on the socio-political circumstances around the country.
His performance reached a crescendo when he gave some members of the audience opportunity to ask questions about his achievements as ‘His Excellency’.
The spontaneity and quick wit got him a loud ovation as the crowd tagged along with him.
They equally sought his views on how “his administration” would iron out issues of witches and wizards flying at night. He hilariously responded that the matter would be addressed by his Minister of Aviation.
Dan the Humorous whose jokes bear largely Port Harcourt-oriented plots picked the baton and served the crowd jokes on health and care-giving institutions, especially teaching hospitals.
Ugandan comedian, Salvador serenaded the audience with his own style of jokes. His jocular comparison of reactions of the authorities to suicidal people in the advanced countries and in his home country, Uganda drew wild laughter.
Other comedians who thrilled the audience to no end include I Go Dye, Gordons, Bovi and Basketmouth.
Globacom’s National Sales Coordinator, Mr. Kazeem Kaka, described the show as reward for Globacom subscribers for their loyalty to the brand.
The show, according to him, would be taken to 25 more cities over the next six months. The cities include Awka, Ikeja, Ikorodu, FESTAC , Ajah, Owerri; Asaba; Calabar; Enugu; Aba; Suleja, Kubwa, FCT, Ibadan; Ijebu Ode; Abeokuta; Ekpoma; Kaduna; Akure; Lokoja; and Anyigba.
A dance competition was also staged to add colour to the performances. Three winners, professional dancers Eunice Nkwocha and Ijeh Joy and Favour Solomon, a student emerged as people’s favourites and went home with mouth-watering gifts.
Nollywood legends, Richard Mofe-Damijo, Kanayo O. Kanayo and Patience Ozokwor popularly known as Mama G were celebrity guests at the show.
The next edition holds in the Coal City, Enugu .
To attend the show, current and prospective subscribers are enjoined to recharge and use up to N2,000 credit within one month and text LOL and preferred location to short code 240; for example, “LOL Enugu to 240”.
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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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