News
HMD, Home of Nokia Phones Partners Techpoint Build 2018
As part of efforts to support tech startups in Nigeria, HMD Global, the Home of Nokia phones is sponsoring Techpoint Build 2018 billed for the Landmark Event Centre, Lagos, from 25th – 27th of January 2018. The event’s them is “Using technology to accelerate the nation’s economy”.
Organized by TechPoint.ng, Nigeria’s largest chronicler of tech developments with the goal of encouraging innovation and technology to bring revolutionary change to Nigeria’s economy, the event will showcase creativity and innovation from several Nigerian tech start-ups.
Olumide Balogun, Head of Marketing, West Africa, HMD Global, posits that technology development is an essential factor if Nigeria’s economy is to grow, hence, the company’s support of Techpoint Build 2018.
According to him, “Unquestionably, there are endless opportunities for individuals and for the nation through the proper utilization of technology. As an organization, we believe that the unity or coming together of tech startups, to debate actionable ideas, for economic development is laudable and that is why HMD Global, the Home of Nokia phones is taking part in this event.”
A highlight of the event will be a panel discussion on the topic: “Where is the market: offline or online?” Discussants will include Olumide Balogun, Head of Marketing, West Africa, HMD; Lanre Akinlagun, Founder Drinks.ng; Jason Njoku, CEO Iroko Partners; and, Lola Cardoso, Head, Corporate Strategy and Innovation at Union Bank.
The panelists will critically examine the scope of the Nigerian online and offline markets. The discussion will focus on themes such as the cost of customer acquisition, market dynamics, go-to-market strategy, the readiness of the Nigerian market, amongst other issues.
Adewale Yusuf, Convener of the event and Founder of TechPoint.ng, says the event is conceived out of his conviction that technology can contribute greatly to raising the standards of living in Nigeria.
Yusuf said: “Technology, innovation and knowledge can bring about unparalleled change in Nigeria hence, the theme of this year’s Techpoint Build. We are truly grateful for the involvement of HMD Global. The company’s strong desire to impact startups is what we hope to see more established businesses in Nigeria demonstrate.”
The event will feature a highly educative keynote address, panel sessions, pitch storms with startups; investors and experts, all in a bid to harness and morph a new Nigeria through actionable plans and solutions.
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.
GCR Affirms Afreximbank’s International Scale Ratings of A, A2
SmartCash Launches ‘No Be Cho Cho Cho’ Campaign to Boost Digital Banking in Nigeria
MTN Nigeria Non-Executive Director Mazen Mroue Quits to Focus on Group Role
Google Adds Yorùbá, Hausa to AI Search, Boosting Access for Millions of Nigerians
MultiChoice Shuts Down Showmax After 11 Years Amid Streaming Wars
Dr. Cairo Ojougboh Foundation Bolsters Nigeria’s Education Drive with ₦2.7m Student Support
Kaspersky Brings more Transparency to Threat Detection with New Hunt Hub
NDPC Commits to Balancing Data Privacy, Protection Information
PwC Reveals AI Scaling Gap Slows Africa’s Digital Transformation
Firm Reviews the Evolution of Phishing Threats in 2025
E-Financial3 days agoNRS Targets N40trillion in Tax, Royalty Revenue in 2026
General News3 days agoPurple Woman 3.0 Is Back, to Empower Women in Tech this IWD 2026
E-Financial3 days agoSEC Revokes Registration of Kensington Agro Trading Limited
News3 days agoEFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud
E-Financial2 days agoNigeria’s VAT Jumps 34%, CIT Soars 48% to ₦14trn in 9M’25 – NBS
Telecom2 days agoFG Approves GIS-enabled Digital Postcode to Tackle Logistics Gaps, Boost E-commerce
E-Business3 days agoNDPC, 60 DPAs Collaborate on Enforcing Privacy Rights in the Use of Al
Telecom3 days agoKonga Launches ‘Berekete Sales’ with Up to 50% Discounts Across Major Categories