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FI Graduates 20 New Founders as Cohort III Closes

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After a rigorous 14 weeks of business mentoring program, twenty startups made it to the Founder Institute Alumni Group out of almost three scores that started the program in the cohort III class.

The graduation event was held virtually with all stakeholders present, Chukwuemeka Fred Agbata (CFA), regional director; Chika Nwogu, associate director; Ifedy Eze, legal director; Fasuyi Olarotimi and other members of the Institute were on ground to celebrate with the new founders.

At the event tagged; “Leadership and Celebration” graduating founders from across the African Ecosystem were present and they all shared their success stories and their future plans going by the ideas they took away from Founder Institute.

Samuel from Uganda partook in the FI experience, he spoke about his challenging period during the 14 weeks exercise.

He pointed to the fact that he had no background in sales and had a problem growing from zero to something.

He also pointed out that he was a non-technical founder and the program made him grapple with the tech angles to his business.

Ogechi, another successful founder said she sacrificed sleep and had to do a lot of catching up to complete the 14 weeks exercise.

In her words “CFA kept hammering that he doesn’t think I will survive this program and that actually fuelled my resolve to see it to the very end”.

Although “tough and demanding” the exercise was worth it especially in the new order we are.

Mrs. Adenike Adeyemi of Fate Foundation commended the new founders for taking the deliberate decision to venture and complete the exercise even in this interesting year.

According to her, it is only an intentional person that can do this and see it through.

Speaking on leadership she said; “leadership from my personal angle means being responsible for the actions I take and not blaming others for whatever happens”.

She advised the founders to understand their team, identify their individual strengths, and zero in on ways in which the team can be driven for organizational growth.

She said; “there is no end to learning and as such we must always have ways to relearn and continually improve by having accountability points with whom we can be frank”.

Jim in his address advised founders to take humility seriously as it opens door of opportunities every time.

He said humility, determination, and passion are capable of taking entrepreneurs to whatever height they desire.

According to Jim, these attributes will not only make them conform to the new normal but will also keep them focused in these uncertain times.

Bunmi, another fresh founder gave her 14 weeks of experience in an emotion-laden manner while reacting to the moderator’s questions.

Bunmi spoke about how she felt she would not make it to the end of the exercise while expressing her satisfaction with the ability to establish a brand new network after the rigorous exercise.

“It is not enough to be a member of FI and graduate, the most important thing is the knowledge gained in the process and having people like Wande and CFA groom you even though the feedbacks were mostly brutal”.

Seun an Alumnus of FI also had few words with the new founders just before welcoming them to the Alumni group.

Seun walked the new members through the benefits inherent in being a member of the great network.

He mentioned collaborations as one of the greatest strategic windows available to them.

He also clarifies that being an FI graduate goes beyond fundraising as there are opportunities for growth.

Chika Nwogu, one of the Directors of the Institute advised the new founders to immediately begin to pay attention to structures and processes relating to their lines of businesses.

According to her, it is quite easy to get distracted with funding. “See yourself as a CEO with a trans-generational business and not just a startup,” she said.

While closing the virtual graduation ceremony, CFA, the regional director of Founders Institute felicitated with the new founders and reiterated that he understands how tedious the exercise was but the participants must understand that it was all intended for all-around sustainable development.

He hinted that the current class was mentored with curriculum four but curriculum five is launching early 2021 and will accommodate the lessons and realities of Covid-19 as it relates to the new normal.

CFA also made it clear that the Founders Institute has birthed over 200 thriving companies across the Nation.

In his words; “We are looking at a situation where we can have a great Intra FI business network”.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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FBNQuest Trustees Set to Host an Estate Planning Clinic in Ibadan

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FBNQuest Trustees, a subsidiary of FBNHoldings, and a leading provider of trust solutions to individuals, corporate entities, and government institutions, is hosting an Estate Planning Clinic in Ibadan, Oyo State, Nigeria. The event will take place on May 30, 2024.

The forum’s theme is “Preserving Legacies Across Generations” and aims to educate residents from Ibadan and environs about the importance of estate planning in accordance with relevant legislation. The session will be led by experienced professionals with in-depth knowledge and extensive experience in estate planning.

The focus of this event is generational wealth transfer and proper estate planning, using live and practical examples to bring the message to bear.

The session will provide participants with a comprehensive understanding of the necessary steps and actions to take to preserve their properties across generations. Additionally, FBNQuest Trustees will share valuable insights on managing conventional estate plans, which are designed to ensure the preservation of legacies.

 

 


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Orange, Digital Africa Partner to Grow Tech Start-ups

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Orange has provided more resources to deepen and expedite support for African tech start-ups as they navigate and thrive in a fast-evolving digital world.

Under its Orange Ventures arm, the multinational telecoms giant, which has 266 million subscribers, recently teamed with Digital Africa to invest in start-ups under the Fuzé scheme.

Fuzé is a €6.5 million facility formed by African entrepreneurs to invest in start-ups in the ideation and minimum viable product stages.

It is entirely owned by Digital Africa. The agreement, launched at Vivatech in Paris, follows the two firms’ 2023 partnerships to fund start-ups from the Orange Digital Centre (ODC) network.

ODC network is an ecosystem deployed in 17 countries in Africa and the Middle East, and 8 countries in Europe, bringing together young people for start-up incubation and acceleration, as well as support for and investment in project leaders.

Faycal Adlouni, managing partner at Orange Ventures, stated that the company is committed to promoting entrepreneurship and innovation in Africa.

“The Orange Group is fully committed to nurturing the future champions of the technology scene in Africa and the Middle East. This arrangement, involving Orange Middle East and Africa, Orange Ventures and Digital Africa will collectively enable us to concentrate our resources to create an environment conducive to the success of start-ups,” he said.

In the first year, five tech start-ups in the ODC received $54 200 each as part of Digital Africa’s Fuzé program. Grégoire de Padirac, CEO of Digital Africa, said the latest initiative strengthens the strategic partnership signed last year.

 


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Moniepoint Celebrates Children, Promotes Financial Literacy in Low-income Communities

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In recognition of the transformative power of education and children as the lynchpin of a nation’s future, Africa’s fastest growing financial institution according to the Financial Times, Moniepoint Inc has provided opportunity for kids in low-income and underserved communities in Lagos to receive life-changing financial literacy in a fun, and relaxed environment to commemorate this year’s Children’s Day celebration.

At an august celebration which was held at the Let It Shine Academy, LISA in Lagos, students were provided with school bags, books, educational tablets and learning accessories to power academic aspirations, as volunteers from Moniepoint took them through interactive and engaging sessions around budgeting, savings and spending,earning money, investing, personal financial management so as to instill a positive culture of financial literacy.

Children’s Day prioritizes children’s rights and participation in the wider world and financial literacy is a very important life skill considering that financial decisions cut across every aspect of their lives, and a solid foundation in this regard can transform them and the nation at large.

Speaking to Moniepoint’s observance of Children’s Day, Aderayo Adesokan, Manager, Brand and Communications, Moniepoint Inc said,

“We are here at LISA to celebrate Children’s Day with the kids. For us at Moniepoint, we are firm believers in powering the dreams of not just businesses or individuals but those associated with them, especially a vulnerable segment like the children. We believe that we can serve as a catalyst to their dreams while helping them understand that as a brand we exist to ensure a society where everyone experiences financial happiness and we’ll be there for them.

We are excited that this platform has afforded us the opportunity to introduce these kids to critical life changing skills around financial inclusion and literacy, and help them better under the concept of money.

It is our expectation that armed with the information and skills that they have received, they in turn are well positioned and better able to educate their friends and family such that Nigeria’s socio-economic development is safe guarded even as all stakeholders continue to work towards entrenching UN’s Sustainable Development Goals.”

According to Damilola Feyide, Founder & Executive Director of LISA,  “At LISA, we’re not just teaching; we’re elevating communities through digital empowerment, creative learning, and skill development. We believe in equipping the youth for a rapidly evolving future where they can thrive and lead.

I am grateful to Moniepoint for supporting our vision and bringing the dreams of a lot of the kids to pass. They have demonstrated in very clear tones by their actions that it is possible to end neglect and marginalization & provide equal opportunity for children to fully develop especially in underserved communities.”

Moniepoint provides over 3 million people and businesses across Nigeria with access to banking, payments processing, loans and business management tools that they need with a view to helping them thrive and contribute to economic growth while driving financial inclusion across the country. LISA is empowering Nigeria’s future by providing free & quality secondary education for children from low-income households and marginalized kids.


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