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MTN Moves to up 50% Market Penetration with 575m Shares at N169 Per Share

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As part of the move to increase Nigerian market penetration which currently stands at 50% market share and 89% population coverage, respectively, the nation’s leading telecommunication company, MTN Nigeria has begun its public offer of 575 million shares at N169 per share.

The public offer, according to the MTN NIgeria leadership, is not only to raise capital at the stock exchange, but to also allow more Nigerians to be part and owners of the company, thereby, making more Nigerians to be MTN shareholders.

The offer, which is said to be in line with MTN Group’s commitment to reduce its shareholding in MTN Nigeria from 78.8% to 65% over time, is designed to provide as many Nigerian retail investors as possible with an opportunity to own shares in MTN Nigeria.

BusinessDay reports that the public offer to retail investors for the sale of up to 575 million shares held in MTN Nigeria by MTN Group will be priced at 169 per share and it opens on Wednesday, 1st December and closes on Tuesday, 14th December 2021.

Speaking at the MTN Nigeria Roadshow in Abeokuta, Ogun state capital on Tuesday, Shoyinka Shodunke, Chief Information Officer, MTN Nigeria, noted that the public offer of 575 million shares at N169 per share was designed to further domesticate the ownership and operations of MTN Nigeria.

Shodunke, who spoke in company of Ademola Olaniyan, the Senior Finance Manager, Callima Inino, Senior Manager, Sales and Distribution, MTN Nigeria and Islamiyat Dosunmu, representative of Vetiva Capital Management Limited, said that MTN vendors had earned N3.9 trillion from sales and the MTN Group had paid over N3 trillion in taxes since its inception in the country in 2001.

The MTN Nigeria Chief Information Officer, who said that the Group planned to double its market penetration, mobile subscribers, revenue and corporate social responsibility by 2025, assured subscribers of one free share incentive for every 20 shares bought after one-year allotment, subject to a maximum of 250 free shares per investor.


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Queen Simone Speaks on Economic Empowerment @ Women Allying Women Conference 2025

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Her Royal Majesty Olori Atuwatse III, Queen Consort of the Warri Kingdom, Nigeria, and HM Queen Wa Arian Simone of the Village of Dawa Grand Bereby, Côte d’Ivoire, at the Women Allying Women (WAW) Conference in Cape Coast on Sept. 4, 2025
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HM Queen Wa Arian Simone, CEO of the Fearless Fund and founder of Fearless Freedom, joined women leaders at the Women Allying Women (WAW) Conference on Thursday last week in Cape Coast.

The annual gathering, convened by Her Royal Majesty Olori Atuwatse III (Queen Consort, Warri Kingdom, Nigeria), carried the theme “Collective Power, Lasting Impact: Women Leading Ghana’s Sustainable Transformation.”

She participated in a panel session “From the Crown to the Boardroom: Transgenerational Wisdom for Ghana’s Transformation,” alongside eminent women leaders who shared perspectives on how tradition, governance, and intergenerational wisdom can shape the future of Ghana and Africa at large.

“As an African Queen committed to women’s empowerment and fair access to capital, being part of Women Allying Women is not only purposeful, but it is also a divine alignment. This is more than a gathering; it is a diasporic and royal bridge rooted in legacy and destiny. I count it a privilege to do God’s work in the earth, together and in fellowship,” said HM Queen Wa Arian Simone, expressing her delight at being part of the conference

The conference featured an exceptional lineup of women leaders, including Ambassador Elsie Appau-Ku Essi, Technical Adviser at the Ministry of Foreign Affairs and Regional Integration, Ghana; Mrs. Maame Efua Houadjeto, CEO of Ehub Ghana; Ms. Hayat Asckhar, lawyer and Managing Partner at Ethereal Limited; Mrs. Baaba Ankrah, CEO of GIBS Café; Petra Aba Asamoah, General Manager at Media General Ghana; Angela Bamford, media personality and entrepreneur; Ms. Arabba Koomson, journalist and life coach; and Stephanie Busari, journalist and CNN Bureau Head, Lagos.

HM Queen Arian Simone’s participation reaffirms Fearless Freedom’s global mission to stop economic inequality and support economic freedom, champion financial inclusion, amplify voices and opportunities for all across the continent and beyond.


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Tripoint Travels Launches Internship Programme to Tackle Youth Unemployment

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L-r: Mrs Crystal Chigbu, Founder Irede Foundation; Dr Olawale Anifowose, Managing Director Global Entrepreneurship Network, Nigeria; Dr Nneka Okekearu, Director Enterprise Development Centre of Pan Atlantic University; Mrs. Shuhda Muhammed Founder and CEO Tripoint Academy and Tripoint Travels; Mr. Allen Awosikunde, Senior Vice President Sabre Central and West Africa; Mrs. Uche Uzoebo Managing Director SANEF (Share Agent Network Expansion Facilities); Mr. Olawale Ajiboye Founder and Curator 16Stories.org at the graduation of Cohort 1 of Tripoint Academy Internship programme in Lagos recently.
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Tripoint Travels has taken the bold first step in addressing one of Nigeria’s most pressing challenges: Youth unemployment, unemployability and underemployment. Through its newly launched Tripoint Academy Internship Programme, the organisation is pioneering a model that trains young Nigerians to be truly employable, while also offering them real job opportunities.

The first cohort of the six-month programme graduated this weekend in Lagos. Out of seven interns, three have already been offered jobs at Tripoint Travels, while partner organisations are considering others.

Mrs Shuhda Muhammed, Managing Director of Tripoint Travels and founder of Tripoint Academy, described the programme as a prototype designed to prove that Nigerian Youths, when given the right skills and guidance, can become assets to any industry.

“I came to the realisation, being an entrepreneur myself and running Tripoint Travels, that we need to have good employees. What that means is, we need intrapreneurs in our organisations for us to be able to grow, scale up and thrive in any industry. And one of the challenges we’ve been facing as entrepreneurs is employment, employability, because most of the youths out there are already educated.” She said.

The MD of Tripoint Travels has referred to this programme as more than an internship – but as the start of a movement. Mrs Muhammed hopes to see more organisations adopt this model and has urged them to grow talents to grow a workforce of employable young Nigerians who are ready to stay, work and thrive in Nigeria.

The Tripoint Academy Internship Programme combines hands-on business training with personal development, designed to turn graduates into Intrapreneurs who bring creativity, responsibility and growth mindsets into the workplace.

Industry stakeholders lauded the initiative. Dr. Olawale Anifowose, Managing Director of the Global Entrepreneurship Network (Nigeria), praised Tripoint’s bold step; he said that “Tripoint Travels has confronted one of the biggest challenges businesses face, which is talent management and finding the right people to work within their company. By equipping young people with practical skills, they are setting an example other organisations should follow”.

One of the graduates, Taiwo Fapohunda, echoed the impact of the programme, and said, “ It has been an eye-opener that has shifted me to become a better person. With the skills and confidence I have gained, I know I can grow and contribute meaningfully in the world of aviation and beyond”

Tripoint Travels is calling on entrepreneurs, organisations and institutions to replicate this model, scale it up and help curb unemployment across the country.

“This is just the beginning”, Mrs Muhammed added. “This is the first trial, and it came out amazing. We’ve shown that it can work, now imagine the impact on the economy if a greater number of organisations across Nigeria can adopt this approach”

 


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Nigerian Entrepreneurs Are the Architects of the Digital Future, Says Lagos Deputy Governor at GITEX Nigeria 2025

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The inaugural GITEX NIGERIA concluded in a tremendous fashion this Thursday in Lagos, as West Africa’s largest tech, AI, and startup show cast a spotlight on the influence of emerging local and regional entrepreneurs.

Held under the patronage of H.E. Bola Ahmed Tinubu GCFR, President of the Federal Republic of Nigeria, GITEX NIGERIA took place across Abuja and Lagos from 1-4 September. Supported by the Federal Ministry of Communications, Innovation and Digital Economy with the National Information Technology Development Agency (NITDA), the event was endorsed by Lagos State Government and organised by KAOUN International, global producer of GITEX events.

Taking place in Nigeria’s commercial and innovation capital, the GITEX NIGERIA Startup Festival showcased the strength and depth of an ecosystem through which talent development pathways and digital infrastructure projects are accelerating Nigeria’s US$1 trillion economy ambition.

Deputy Governor of Lagos State, H.E. Dr. Kadri Obafemi Hamzat, hailed its immediate impact at the national level, declaring: “GITEX NIGERIA sends an inspirational message to every Nigerian: that many positive things are transpiring across our country and opportunities are here. For every attendee at the GITEX NIGERIA Startup Festival, this has been immediately apparent.

“We see many young citizens and entrepreneurs, with enormous innovative minds, making a real difference – generating interest, raising capital, and overcoming challenges by bringing their ideas to life and delivering tangible impact. Such outcomes are crucial because they show that, as the world evolves, so too does Nigeria – as a nation of leaders, innovators, and architects of digital future we envisage.”

Central to Nigeria – and Africa’s – digital sovereignty is upskilling and expanding grassroots talent and organisations. As the largest regional showcase of its kind and a convergence point for local and international stakeholders embracing digital transformation, the GITEX NIGERIA Startup Festival was perfectly timed to support this mandate.

Over 650 startups from 27+ countries and 29 different industries participated with a shared vision of co-creating tech architecture across multiple sectors undergoing continent-wide digitisation. Its strategic programme included Nigeria’s most globally diverse investor programme, innovation hub showcases, and curated meetings between startups, investors, corporates, governments, industry leaders, and prospective partners.

Speaking after the recent announcement of funding 75 new research projects for startups, researchers, corporates and Nigerian diaspora for digital innovation, the Hon. Bosun Tijani, Minister of Communications, Innovation and Digital Economy of the Federal Republic of Nigeria said: “The opportunity and responsibility lies with all of us to build a resilient, innovative, and globally connected ecosystem, one that ensures that Nigeria not only keeps pace with the digital future but also shapes it. To all enterprises, corporates, startups, academia, and partners, we offer a transparent and accelerated path to collaboration, investment, and cooperation with Nigeria. Let us accelerate the development of the digital economy not only for Nigeria, but for Africa and the world.”

Supporting the multi-sector disruption ranging from education and agriculture through manufacturing and energy, startup participation was bolstered by hundreds of organisations brought by local engagement and international innovation hub partnerships.

Within Nigeria, NITDA, Lagos State, FATE Foundation, Co-creation Hub Africa (CcHUB), and Orange Corners were among the partners, while internationally, the United Nations Development Programme (UNDP), American Business Council (ABC) contributed.

Mr. Kashifu Inuwa Abdullahi, Director General/CEO, NITDA, said: “Across Africa and around the globe, future-oriented partnerships are the lifeblood of thriving startup ecosystems and digital economies. By uniting ambitious organisations from instrumental sectors in the emerging digital economy, we demonstrate how collaboration fuels innovation, accelerates transformation, and empowers Nigerians and Africans to shape their digital future.”

Universally recognised as the world’s leading pitch competition for early-stage companies and emerging entrepreneurs, the Supernova Challenge made its regional debut at West Africa’s largest tech, AI, and startup show – culminating in action-packed Thursday final.

Across two days in Nigeria’s innovation capital, the continent’s brightest and boldest disruptors joined Nigeria’s most visionary startups in competing for a US$22,000 total prize pool across six categories – showcasing game-changing solutions transforming agritech, cybersecurity, edtech, e-commerce, healthtech, telecom, and more.

Following the semi-finals 24 hours prior, the remaining contestants battled it out for valuable cash prizes and unprecedented visibility as regional and international investors watched on.

Abdul-Jabbar Momoh, VP, from Nigerian startup Curacel – revolutionising health insurance with AI-driven solutions – emerged as the most outstanding finalist among the expert judging panel and was awarded the US$10,000 first prize for its AI-driven health insurance solution.

Reflecting on the at GITEX NIGERIA, Momoh said: “Placing first at the GITEX NIGERIA Supernova Challenge gives us more visibility and fuel our expansion across Europe, Middle East and Africa, as well as North America. Most importantly we are going to keep on impacting lives in Africa and around the world by deploying solutions to move health insurance distribution.”

The winners across each Supernova Challenge category were as follows:

  • Overall Supernova Champion (US$10,000): Curacel
  • AI category (US$2,000): Build Africa
  • Digital Finance category (US$2,000): InCash
  • Creative Economy & Martech (US$2,000): Hadiya
  • Agritech & Energy (US$2,000): Acecore
  • Mobility & Smart Cities (US$2,000): Kara
  • Disruptor Award (US$2,000): HiPrep

For more information, news and updates on GITEX NIGERIA, please visit gitexnigeria.ng.


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