News
AXA Mansard Empowers over 200 Female Entrepreneurs with Financial Support
As part of its continued effort to support women and the Small and Medium Enterprise (SME) in Nigeria, AXA Mansard insurance has provided financial and capacity development support for over 200 female SME owners in Nigeria.
It provided the support through a capacity development conference organised by SME 100 Africa, in commemoration of the International Women’s Day.
SME 100 Africa is a social enterprise that supports young African entrepreneurs along their journey towards professional success.
Speaking during the conference, Rashidat Adebisi, Chief Client Officer, AXA Mansard, said that collaborating with SME 100 to empower SMEs is another way in the series of programmes and initiatives that AXA Mansard was using to inspire and empower women.
According to her, AXA Mansard’s commitment to SMEs is not just about the ripple effect it will have on the economy, also about the gap that it will bridge.
“And empowering these brilliant business owners around the International Women’s Day, is our way of raising the awareness about the different socio-economic possibilities of unlocking the potential of women either in business, career or other social endeavour,” she explained.
Speaking on the SME business pitch competition, which happened on the side line of the conference, Jumoke Odunlami, the Chief Customer and Marketing Officer, AXA Mansard, explained that the goal of the company in investing in the competition was not just to highlight the ingenuities of female SMEs in Nigeria, but to give them constructive feedback on how to improve their business and help them understand the importance of Insurance.
She said, “For us, It is not just about who gets to win the prize money. The prize money is one of the many benefits of participating in this competition.
The real value is for us to demonstrate our role to business owners as being not just an Insurance company that pays claims when the unforeseen happens, but as the Insurance partner who Is there for you every step of the way; giving you feedback, providing expert opinion, and assuring you that you can take on the world, confident that you are covered.
Speaking about the SME Business pitch competition, which happened on the side line of the conference, the Chief Customer and Marketing Officer, AXA Mansard, Jumoke Odunlami, explained that the goal of the company in investing in the competition was not just to highlight the ingenuities of female SMEs in Nigeria, but to give them constructive feedback on how to improve their business and help them understand the importance of Insurance.
EFCC
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.
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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