News
Coca-Cola Empowers Over 600 Women with Vocational Skills

The Coca-Cola Foundation in partnership with the Karis and Eleos Hand of Hope Foundation, have graduated a total of 612 women who participated in its free vocational skills acquisition training program called “Catalyst for Change”.
This has brought immeasurable joy to the women of Sangotedo who were at the held on Friday, October 2, 2020.
The aim of the one-month intensive training program is to aid economic recovery from the effects of the COVID-19 pandemic.
The graduation ceremony which took place at the Sangotedo Primary School witnessed the presence of prominent members of the host community, Coca-Cola and Karis and Eleos Hand of Hope Foundation.
Some of those present include; the Baale of Sangotedo, Chief Rafiu Lawal Ajakaiye, represented by Mr. Raman Suleman; Women leader of Eti-Osa East LCDA, Hon Oyedemi Folashade Olarotimi; the NULGE Chairman and HOD Education, Eti Osa East, Comrade Omojole Olabode; the CCO to the head teacher at Sangotedo Primary School, Mr Haruna Abulwakin Public Affairs Communication and sustainability Manager at Coca-Cola Nigeria, Mrs Nwamaka Onyemelukwe; Founder, Karis and Eleos Hand of Hope Foundation, Mrs Bukola Bamiduro; ED, RecyclePoints, Mr. Taiwo Adewole and many others.
The vocational skills that the students learned include; baking, sewing, wig making, tie and dye, shoe and bag making, soap and household items production.
100 students out of the 612 graduates were presented with start-up kits for their different areas of interest.
The Valedictorian, Ekhator Esther Clara, profusely thanked the Coca-Cola Foundation, as well as the Karis and Eleos Foundation for providing them with this invaluable experience. According to her, beyond the vocational skills that were taught, they were also equipped with soft skills like personal branding, use of social media for business, financial literacy and networking, to mention a few.
She also encouraged her fellow participants and graduates not to have a limiting mindset.
According to Nwamaka Onyemelukwe, public affairs, Communication and sustainability Manager, Coca-Cola Nigeria, “Women are not only essential to building thriving communities – we truly believe they represent one of the biggest accelerators to economic growth globally.
“That is why Coca-Cola has been commitment to economically empowering women over the past 10 years to build sustainable communities.
She thanked the leadership of the community profusely for their support in making the vision a reality, while urging the graduating students to ensure that they remain good ambassadors of the Coca-Cola ‘Catalyst for Change’ initiative.
The founder of Karis and Eleos foundation admonished the students to engage in continuous self-development even as they graduate from the vocational school.
She urged them to never compromise on quality and emphasized the importance of saving.
The Women leader of Eti-Osa East LCDA, Hon. Folashade Olarotimi, who was also one of the graduating students expressed her deep appreciation to Coca-Cola and Karis and Eleos Foundations for their commitment to building human capacity and empowering lives.
She advised the graduating students to make great use of all the skills learnt and ensure that they add value to the society.
The Baale of Sangotedo, Chief Rafiu Lawal Ajakaiye, represented by Mr. Raman Suleman expressed the community’s gratitude and joy.
He stated that this empowerment program will no doubt go a long way in alleviating the economic hardship caused by the challenges of the COVID-19 pandemic.
The ceremony ended with immense gratitude and joy from the community leaders and graduates who expressed their heartfelt gratitude to Coca-Cola foundation as well as the Karis and Eleos foundation for their support.
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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.
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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