News
NGT Introduces New Product in Nigeria
Recare International, owners of personal style brand, Natures Gentle Touch, introduced its new product for women during an open house event in Lagos recently.
The Instant Balance Conditioner, as introduced in the market, replenishes lost moisture faster with its herbal bend protein complex formula, five minutes after application to the hair, unlike other conditioners that requires sitting in the hair accelerator for more processing times over 15 minutes.
“We wanted to do something special, to celebrate and appreciate customer loyalty, we recognize how precious time is to our women, and we are glad to be proffering the right and quick solution to their hair needs”, said Mr. Daniel Anim-Appiah, Operations Manager, Recare Limited.
“The Instant Balance Conditioner is blended with 14 natural herbs which is designed for instant results to improve the manageability of the hair. The product is designed for African women of all hair types – both virgin and relaxed. We are currently working on other line of products that would meet specific virgin hair needs” Anim-Appiah added.
Mr. Charles Etuk, chief financial officer, Eunisell Limited, who was at the event to show his support to the company, whilst commending the Recare team said “it is very important to stay as a team, the core essence of having the right people and the right strategy is to build a recognized and sustainable brand”.
The Instant Balance conditioner is designed with African Shea butter and Vitamin E to neutralize any unrinsed relaxer or alkaline shampoo, close the cuticle layer of the hair, and replace vitamins and essential oils to revive the hair and scalp.
Recare is a leader in African skin, hair and personal style research and innovation. Established in 1997, the company is dedicated to manufacturing and marketing beauty products specifically designed for Africans living in Africa.
With a mission to empower individuals to embrace their unique sense of style, Recare consistently seeks to develop world-class solutions that deliver on the beauty needs of Africans.
The company currently owns three brands; Natures Gentle Touch, Hairsavvy and Non-stop.
Natures Gentle Touch is a personal style brand that provides solutions to different hair, scalp and skin problems.
The brand, formulated for African women was manufactured by leading researchers in African hair, skin and personal care, Recare Limited. The brand has 29 lines of products ranging from hair and scalp to skin treatment products.
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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