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Ausso Leadership Academy to Fill Huge Gap in Entrepreneurship – Okere

Austin Okere, founder and Entrepreneur-in-Residence, Ausso Leadership Academy, said that the launch of Ausso Leadership Academy is not only a dream come true, but the fulfillment of a glaring need in our business and entrepreneurship ecosystem.
He stated this at the unveiling of the Academy in Lagos last week, saying that the need for mentorship in the success of businesses cannot be overemphasized. “This is indeed what has driven the raging success of Silicon Valley in America.
“The Ausso Leadership Academy fills this huge gap in our polity by providing the right medium for this mentorship to take place seamlessly. Many of the champions of business that I spoke to regarding mentoring delegates to succeed in their businesses readily agreed, saying that they wanted to do this all along, but there was no organized way for them to actualize it, despite getting many requests for mentorship.
“My motivation for setting up the Ausso Leadership Academy are three fold, of which one is very personal: Firstly, I wanted a way to impart the advice I would have given my younger self in my entrepreneurial adventure (perhaps I would have avoided some of the mistakes that I made). Secondly, I wanted to be to others the Mentor I wish I had.
“Finally and the most personal reason was that I wanted to mentor entrepreneurs to institutionalize and scale their businesses geometrically, because in so doing, they will maximize the jobs they create in order to enable shared prosperity.
“Many of us send our children to schools overseas to get the best education. If they remain there after studies because there is nothing for them to come back to, you can imagine the colossal loss of a whole generation of Nigeria’s Brightest and Best living their lives as disadvantaged citizens in another man’s country , while their Nation badly needs them.
“If we all put hands together to lift the businesses to be sustainable and prosperous, then there will be jobs for your children and my children to come back to. This is the cardinal reason for the Ausso Leadership Academy. The Academy is designed to be self-sustaining and have a life beyond the Founder,” he said.
He added that an enterprise starts with an idea in the first year, and after seven years it has not scaled to the next level.
“No innovative input to power growth, transform or survive disruption. Yet we will gladly pay N3m for a table at a show just for the night, or shed N500k to buy a designer belt or shoe. Let us not even talk of the watches. These are good indulgences when they are funded by a business which is doing well. I believe it is more about priorities than affordability when it comes to self-development.
“The Ausso Leadership Academy is not a Business School, nor a substitute for one. The Academy is the practical and experiential complement to the fantastic education we receive from Business Schools.
“I daresay on behalf of all the Champions who are committing their time and resources to this project that the Ausso Leadership Academy is providing what is needed for mentorship, Business growth and Sustainability. It is now for those for whose benefit it was established to avail themselves of the advantages,” he noted.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


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.
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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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