Telecom
Coven Works Inc Becomes Official Startup Partner for the Annual Investment Meeting 2022
Coven Works Inc has been announced as the Official Startup Partner for the Annual Investment Meeting (AIM) 2022.
This partnership is aimed at providing veritable platform for startups in Nigeria to participate in the 11th edition of the Annual Investment Meeting scheduled for 29 – 31st March 2022 at the Dubai Exhibition Center, EXPO 2020 Dubai, UAE themed Investments in Sustainable Innovation for a Thriving Future.
Excited about the partnership and the opportunities the collaboration will birth for the Nigerian Startups ecosystem, Sola Amusan, founder of Coven Works said that “Partnering with AIM was a highly welcome idea when it came to seeking a partner and organization that is a well-known investment platform in Dubai, one that supports small and mid-size enterprises (SMEs) and startups to maximize their potential, expand their network, and grow globally. Our shared belief is to empower startups, especially those in Nigeria, to achieve more”.
Startups play a significant role as engines of innovation, growth, and employment. One of the goals of AIM is to serve as a strategic platform to support startups from around the world in connecting them to potential partners and investors from other parts of the world.
With this, AIM will run a Startup Pitch Competition. The pitch competition is open to all the startups from different sectors and is categorized as per the following stages: Pre-seed, Seed, and Series A.
The pitch competition would be held virtual and physical, and startups will pitch to an audience of potential investors, partners, government officials, and industry experts.
AIM 2022 will be the first hybrid edition using the powerful and most flexible combination of live and virtual environments. The hybrid event will utilize digital technology, and at the same time, provide an in-person event for participants who wish to have more physical interactions with fellow attendees.
Coven Works will be responsible for the accreditation of startups from Nigeria for the pitching competition.
“In these challenging times, it is imperative to provide startups and SMEs with the maximum support they need, as they contribute so much to economic strength and development globally.
“Through our partner Coven Works Inc, we are expanding this opportunity to the vibrant startup ecosystem in Nigeria.
“Their participation will serve as a vital tool to receive support from the global investment community and investors,” said Walid Farghal, director-general of the Annual Investment Meeting.
“At AIM, startups get the opportunity to learn about growth strategies, and promote their products, services, and ideas.
“AIM is picking winners in every vertical on every continent and making them powerful enough to take on the giants in their fields,” he added.
Some of the Benefits of Participating in the AIM 2022 Startup Pitching competition Include:
● Live pitching in front of an audience comprising of Angel Investors, VCs & Govt officials.
● Exposure to organizations exhibiting at the EXPO 2020 Dubai (opportunity to interact with potential stakeholders from over 192 pavilions)
● Access to all EXPO 2020 venues & features.
● Get featured by international top media outlets.
● Exposure from marketing campaigns by the AIM Social media channels
● Chance to win up to 110k AED in cash prizes from the Pitching competition
● Join the Vesti Yacht Party in Dubai that week for discounts off the price
To sign up for the AIM pitching competition as a startup https://bit.ly/aim2022 or [email protected]
AIM 2022 will offer an extensive investment promotion program that aims to create a dynamic roadmap to economic recovery by unlocking opportunities, reshaping strategies, and building key partnerships to accelerate global progress.
Over three days, participants of the program will have the chance to be knowledgeable about the latest investment trends, exhibit information on their investment opportunities, conduct Investment Destination Presentations, and organize specific meetings with targeted investors through the various AIM Networking functions.
Nigeria will criminalize the destruction of broadband fiber cables following repeated complaints by MTN Nigeria Communications Plc and other telecommunications companies that they are losing billions of naira, according to people familiar with the matter.
Federal ministry of works, which supervises federal road constructors, is finalizing the regulation that will be signed as an executive order by President Bola Tinubu, said the people, asking not to be identified as they weren’t authorized to comment.
While there are presently laws against vandalism, the authorities are aiming to regulate construction firms more closely.
The order will enforce stiff penalties on offenders, said the people, declining to provide more details or say when it will be signed.
“Telecom assets are critical backbone that supports the economy across sectors,” said Temitope Ajayi, a senior presidential aide, who noted that the Association of Telecommunications Companies (ATCON) has been demanding the classification for years.
New rules will provide “further assurance that the Nigerian government will protect their investments against vandals and criminal elements.”
The Nigerian Communications Commission (NCC) estimates that the sector will make up more than a fifth of the country’s gross domestic product by the end of 2027, up from 13.5% in the third quarter of last year.
The move will help alleviate pressure on the telecoms sector, which is facing increased operating costs and sales pressures from a sharp depreciation in the currency and a threefold increase in energy prices.
Repairs and revenue losses from damaged cables is estimated to have cost the sector almost 27 billion naira ($23 million) last year alone, documents seen by Bloomberg show.
MTN Nigeria, the biggest wireless operator in Africa’s most-populous nation, and Airtel Africa Plc bore the brunt of the costs, the documents show.
MTN suffered more than 6,000 cuts on its fiber cable last year, the documents show. On Feb. 28, a cut on its network in three different locations by a road construction firm, an oil serving company and someone burning rubbish in a manhole meant customers faced more than five hours of data and voice outages.
The operator relocated 2,500 kilometers (1,553 miles) of vulnerable fiber cables between 2022 and 2023, at a cost of more than 11 billion naira – enough to build 870 kilometers of new fiber lines to areas without coverage.
A presidential order on the matter would be welcomed, said Tony Izuagbe Emoekpere, president, Association of Telecommunications Companies of Nigeria.
“When it comes to communication infrastructure, they are destroyed at will, so we are eagerly awaiting the president’s order,” he said. “It would be a great boost to the industry, and it will also encourage investment.”
Telegram, the messaging giant founded by Pavel Durov and headquartered in Dubai, anticipates hitting a remarkable milestone of one billion active monthly users within the next year.
Durov’s departure from Russia in 2014, prompted by governmental pressures to stifle opposition communities on his VK social media platform, underscores Telegram’s commitment to neutrality despite geopolitical challenges.
With 900 million active users currently, Telegram stands as a beacon of free speech in the digital realm, particularly influential in former Soviet Union republics and pivotal during conflicts like the Russia-Ukraine standoff.
Durov’s staunch advocacy for freedom of expression and opposition to censorship by tech giants like Apple and Google reinforces Telegram’s status as a neutral platform.
Opting for the UAE as its base, Durov cites its neutrality and openness as conducive to Telegram’s ethos, serving both opposition groups and governments alike while maintaining impartiality.
In Durov’s vision, the pursuit of freedom eclipses material gain, shaping Telegram’s trajectory as a bastion of digital liberation.
To further strengthen Nigeria’s digital economy in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, the National Information Technology Development Agency (NITDA) and National Identity Management Commission (NIMC) have announced a collaboration on National Public Key Infrastructure (PKI) and Digital Public Infrastructure (DPI) to enhance and create synergy between digital identity, payment ecosystem, and secure & seemless data exchange capabilities for Nigeria.
During the meeting between the Director-General of NITDA, Kashifu Inuwa Abdullahi, and Director General of NIMC, Engr. Bisoye Coker-Odusote, with some management staff of both organisations, they discussed various initiatives, which include building DPI stacks for a secured and seamless data exchange and forming partnerships to transform the national identity system.
This collaboration also aims to harness the potential of the innovative ecosystem and emphasise the use of Public Key Infrastructure (PKI) to drive digital transformation in Nigeria.
To ensure a smooth implementation, a 12-man committee was set up. This committee will play a crucial role in kickstarting and harmonising the initiatives. It is expected to deliver a comprehensive implementation report within the next 4 weeks
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