News
FG Appoints Kazaure as New MD/CEO of Galaxy Backbone
President Goodluck Jonathan has approved the appointment of Mr. Yusuf Kazaure as managing director and chief executive officer of Galaxy Backbone Ltd.
He takes over from Gerald Ilukwe, the pioneer MD/CE of Galaxy Backbone Ltd whose tenure ends on September 4 2014 after eight years of meritorious service and outstanding leadership.
Senator Anyim Pius Anyim, secretary to the Government of the Federation, conveyed the appointment in a letter dated August, 29 2014.
Chief Anyim congratulated Kazaure and enjoined him to take the ICT Company to greater heights. The appointment becomes effective from September, 52014.
In an internal email to employees announcing the appointment, the outgoing MD wrote, “Dear colleagues, join me in congratulating Mallam Yusuf Kazaure on his recent appointment as MD/CE of Galaxy Backbone Limited effective 5th September, 2014. This elevation is an honour and responsibility well deserved. I enjoin everyone to give him all the support needed to succeed in moving this fantastic company to even greater heights. Congrats Mallam Yusuf!!!”
Kazaure is a seasoned professional with over 25 years cumulative working experience spanning Construction, Banking, Government and Information Technology.
In 2002, he was appointed as the pioneer managing director/CEO, Galaxy Information Technology and Telecommunication Ltd – a Jigawa State owned ICT company.
He was responsible for the planning, setting up and running of the award winning Jigawa Broadband Network.
His passion for deepening the role of ICTs for effective governance and national development resulted in Yusuf being a key member of the initial core team of Galaxy Backbone Plc in 2006.
One of the pioneer staff of Galaxy Backbone, Yusuf has at various times headed the Business Operations, Education, Development and States – which focused essentially on ICT4D Initiatives – and Customer Services departments of the company. Before his appointment to the top post, he was the Executive Director, Corporate Services.
In the eight years he has been with Galaxy Backbone, the company has laid the foundation for e-Government by creating an enabling platform that currently connects over 700 Government Ministries, Departments and Agencies (MDAs) in over 3,500 locations across the country.
Yusuf possesses a Masters in Business Administration (MBA) from Bayero University Kano and an M.Sc in Architecture from Ahmadu Bello University, Zaria, as well as a Diploma in Computing from Oxford University.
An avid sportsman, his interests include playing Squash, Golf, Swimming, Horse riding, and Farming.
He is married with children.
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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