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Ambode, 100RC Kick-off Workshop with Key Officials to Launch ‘Resilient Lagos’

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100 Resilient Cities (100RC)- pioneered by The Rockefeller Foundation, and dedicated to building urban resilience in 100 cities around the world, has commenced workshop that brings together key stakeholders from government, the private sector, NGOS, civil society groups, and 100rc staff to develop Lagos’ “resilience strategy”

The City of Lagos, joined by 100 Resilient Cities – Pioneered by The Rockefeller Foundation (100RC), pledged commitment to undertake efforts to become more resilient to the shocks – catastrophic events like hurricanes, fires, and floods – and stresses, slow-moving disasters like water shortages, homelessness, and unemployment, which are increasingly part of 21st century life.

Lagos was named part of the 100RC network in 2016, along with cities like London, New York, Bangkok, and Buenos Aires – and was selected from more than 1,000 applicants from around the world.

100 Resilient Cities – Pioneered by The Rockefeller Foundation (100RC) helps cities around the world become more resilient to social, economic, and physical challenges that are a growing part of the 21st century. 100RC provides this assistance through: funding for a Chief Resilience Officer in each of our cities who will lead the resilience efforts; resources for drafting a Resilience Strategy; access to private sector, public sector, academic, and NGO resilience tools; and membership in a global network of peer cities to share best practices and challenges.

Speaking during the workshop which commenced on Wednesday in Lagos, Mr. Akinwunmi Ambode, executive governor of Lagos State said, “We are thrilled to formally begin our partnership with 100RC. Today’s workshop is the starting point for the creation of Lagos’ Resilience Strategy – a plan for our city to thrive in the face of growing challenges. Through this partnership, we will address our city’s challenges proactively, inclusively, and holistically.”

He added that the State Government is always open to new ideas, new technology and new methods. “Being a member of the 100 Resilient Cities will be beneficial to our State and would offer us more opportunities to access investment and partnerships that will foster massive infrastructural development over the next couple of years”, he added.

The Governor said that as a member of the 100 resilient Cities of the World, the State has a platform to compare notes with cities who have similar experiences, and create innovative and mitigating strategies.

“Lagos is helping fuel global momentum around building urban resilience, and leading by example,” said Michael Berkowitz, president of 100 Resilient Cities. “The agenda workshop will clarify the city’s needs, surface innovative thinking, and give us a blueprint for engaging partners from across sectors to bring Lagos the tools and resources needed to become more resilient.”

The “Resilience Agenda-Setting Workshop” is Lagos’ first engagement in their partnership with 100RC. The workshop brings a diverse set of stakeholders from across city government and the private sector, non-profits, NGO’s, academia, and civic groups into the planning process. It seeks to uncover all the threats the city is facing, including those previously unknown, while unveiling resilience building tools and plans to address those threats.

In the months following the workshop, Lagos will name a Chief Resilience Officer (CRO) – an innovative new position in city government.

The CRO, Liz Agbor-Tabi, associate director, City and Practice Management, 100RC, said, will lead the city’s resilience efforts and continue to engage those stakeholders, resilience experts, and 100RC staff in drafting a comprehensive Resilience Strategy.

Lagos was selected to the 100-city global network in May 2016 and will receive technical support and resources to develop and implement a Resilience Strategy.

Each city in the 100RC network receives four concrete types of support:

Financial and logistical guidance for establishing an innovative new position in city government, a Chief Resilience Officer, who will lead the city’s resilience efforts; technical support for development of a robust Resilience Strategy; access to solutions, service providers, and partners from the private, public and NGO sectors who can help them develop and implement their resilience strategies; and membership in a global network of member cities who can learn from and help each other.

Lagos’ Resilience Strategy will be a holistic, action-oriented plan to build partnerships and alliances, financing mechanisms, and will pay particular attention to meeting the needs of poor and vulnerable populations.

The workshop began the process of identifying priorities, actions, and metrics, and the plan will be drafted over the next year.

 


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Detained Binance executive drags EFCC, NSA to court

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Binance executive Tigran Gambaryan has has dragged the National Security Adviser Nuhu Ribadu and the Economic Financial Crimes Commission (EFCC), to court alleging violations of his fundamental rights.

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In a filing dated March 18 and presented by his lawyer Olujoke Aliyu from Aluko and Oyebode Law Firm, Gambaryan sought redress before Justice Inyang Ekwo, requesting five reliefs. Similarly, Nadeem Anjarwalla, Binance’s Africa regional manager who escaped custody on March 22, initiated a separate suit before Justice Ekwo.

Gambaryan and Anjarwalla, in the suits marked: FHC/ABJ/CS/356/24 and FHC/ABJ/CS/355/24, had sued the Office of NSA (ONSA) and EFCC as 1st and 2nd respondents.

Gambaryan, a US citizen overseeing financial crime compliance at the crypto exchange platform, alleged that his detention and the confiscation of his international travel passport violated Section 35 (1) and (4) of the 1999 Constitution, constituting a breach of his fundamental right to personal liberty. He further requested the court to order his immediate release and the return of his passport. Additionally, he sought an injunction preventing further detention related to any Binance investigations and demanded a public apology from the respondents, along with costs incurred.

Gambaryan stated that he visited Nigeria on February 26 alongside Nadeem Anjarwalla, representing Binance, in response to invitations from ONSA and EFCC. Despite attending the meeting as requested, both were detained afterward without formal charges.

During the court proceedings, T.J. Krukrubo, SAN, representing Anjarwalla and Gambaryan, informed the court of the respondents’ absence despite being served. Krukrubo also mentioned their notice of withdrawal of legal representation for Anjarwalla, filed on March 26.

Justice Ekwo noted the withdrawal of legal representation and adjourned the matter to April 8 to allow the applicants to seek new representation and give the respondents an opportunity to appear.

In Gambaryan’s case, Krukrubo stated that although the processes were served on ONSA and EFCC, they still had time to respond. He requested an adjournment, indicating that the respondents’ deadline to file their applications would expire the following week.

Consequently, Justice Ekwo scheduled the next hearing for April 8 to continue proceedings.


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AXA Mansard Empowers Female SMEs with Financial, Digital Skills

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AXA Mansard, a member of AXA has empowered 200 female Small and Medium Enterprises with financial literacy and digital business skills.

In collaboration with SME 100 Africa, the two-day training, which was held in Lagos, is part of AXA’s lined-up programmes to commemorate this year’s International Women’s Day.

Speaking, Olusesan Ogunyooye, Head of Marketing AXA Mansard, said the training was aimed to empower female SME owners with skills to improve business output and position them for the increasing economic opportunities available in an increasingly digital marketplace.

Ogunyooye noted that the move was in line with AXA Mansard’s sustainability agenda, explaining that the company was convinced that support for women through its inclusive protection programmes was pivotal to its purpose of acting for human progress by protecting what matters and its mission of moving from being a payer to a partner.

He further said that focusing on digital skills was important because the company realised the importance of digital skills to the growth of the SME sector in Nigeria and wants to ensure that women were empowered enough to be a consequential part of that growth.

“It’s almost trite to say that SMEs are the engine for economic growth, especially in developing countries like Nigeria, where over 45 million adults are business owners. What needs to be continually discussed is how Nigeria is going to unlock that potential for economic development and how much of that potential will be unlocked by women and for women.”

“For us at AXA Mansard, we are aware that digital will play a major role in unlocking these current opportunities and Nigeria’s economic future. So, to ensure that women are equally represented in unlocking these future potentials, that’s why we have collaborated with SME 100 Africa to support them in developing the required skills”.

“Our choice of digital and financial literacy skills is deliberate. We understand the power of the duo. We understand that helping these SMEs with the skills to attract more customers will be a faster means to empower them.

“We see that they have amazing products and services, but they need to understand how to attract value for themselves by attracting the right customers, and you will agree with me that virtually all customer segments are online in one way or another today.

“So, if we can empower them with digital business skills, we would have helped them with the heavy lifting of trying to find and attract customers”. Ogunyooye explained.

According to him, AXA Mansard believes that for the world to experience progress truly, there must be an equitable distribution of creation and access to opportunities for men and women. This quest for balance informed the SHE for Shield initiative, a women-centred inclusive protection programme of AXA Mansard.

SHE for Shield is a group of initiatives designed for the Nigerian woman. The goal is to see them grow, add value, and help them mitigate risks at every step.

According to the company, research has found that access to health care is one of the most important things to Nigerian women, regardless of their economic segment. They desire to be financially independent, secure, and respected in the community.

 


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IFC Invests in New 4DX Ventures Fund to Support Tech Startups in Africa

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IFC is investing $10.5 million in a new fund by 4DX Ventures, a New York-based venture capital firm focused on supporting early-stage African technology companies across a broad set of sectors, including fintech, e-commerce, edtech, climate tech, and health tech.

IFC’s investment in 4DX Ventures Fund III will come from IFC’s $225 million venture capital platform, which was launched last year to strengthen emerging VC ecosystems and invest in early-stage companies in Africa, the Middle East, Central Asia, and Pakistan.

Africa is among the regions least served by venture capital, receiving just 2% of global venture deal volume in the third quarter of 2023. Access to capital on the continent has been further exacerbated by a slowdown in global venture capital investment.

Tech ecosystems are nascent, or even nonexistent, outside of more established markets such as Egypt, Kenya, Nigeria, Senegal, and South Africa.

“IFC and 4DX Ventures share the commitment to supporting tech entrepreneurs with innovations that will help Africa leapfrog in critical areas such as climate, health care, fintech, e-commerce, and education,” said Walter Baddoo, Co-Founder and General Partner of 4DX Ventures.

“We look forward to partnering with IFC to help promising tech startups build transformative businesses and realize sustainable development impact on the continent.”

4DX’s new fund will invest in companies with tech solutions that can improve productivity, efficiency and competitiveness across Africa. The firm’s first two funds invested in companies such as Egypt-based e-commerce platform MaxAB, an IFC portfolio company; Ghana-based health tech firm mPharma; and Kenya-based B2B e-commerce platform Wasoko, formerly known as Sokowatch.

“By supporting the development of tech ecosystems in emerging markets, IFC’s venture capital platform aims to improve access to key services, boost business competitiveness, and promote job creation through digital transformation,” said Mohamed Gouled, Vice President of Industries at IFC.

“Our investment in venture funds such as 4DX Ventures will help African entrepreneurs access more financing and resources they need to scale tech innovations and bolster sustainable growth across the continent.

In addition to providing capital, IFC will work with 4DX Ventures to implement their environmental and social management system.


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