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Pomp, Ceremony @ 5-Star Presentation of TD Mobile

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Glamour and glitz were out in force at the weekend as the crème of the Nigerian society and elsewhere line lined up the red carpet for official unveiling of TD Mobile, the revolutionary scion of Technology Distributions (TD) Ltd, sub Saharan Africa’s’ largest ICT Distributions company.

The five-star event held at the prestigious Expo Centre of the prestigious Eko Hotels in Victoria Island, Lagos drew who is who in Nigeria; top celebrities; and musical acts.

The guest included: CEOs of top banks in Nigeria like: Phillips Oduoza of UBA Plc; Nnamdi Okonkwo of Fidelity Bank; and Herbert Wigwe of Access Bank.

A-list musical acts like Naeto C, JMartins, Inyanya, Teckno Emma Nyra and a host of others also headlined the event.

Mrs Gozy Ijogun, business manager of TD-Mobile, in her welcome address, cited the desire to win and to further expand the frontiers of internet access as driving motivation behind the launch of TDMobile.

Her words: “We are well aware that despite the increasing growth rate in the ICT industry, over sixty percent of Nigerians still have limited access to the internet.

“TDMobile is the window to the world of access. Our aim is to bridge the divides between the rich and the poor, between the young and the old, between East and West and between North and South through the distribution of a range of smart devices such as Phones, Phablets, Tablets, Laptops, Mobile Printers and devices. We are focused on distribution of genuine Mobile devices  through our hundreds of Partners that will radically change the way we live and do business.” She added

She paid glowing tributes to partner organizations such as HP, Nokia, Toshiba, Dell, Lenovo, IBM, among others and to the TD Mobile team for the support and hard work which went into making the launch a reality.
 
Ime Umoh, managing director of HP Computers, hailed the launch of TD Mobile as a timely response to the dynamic and changing face of the industry and end-user requirements.

According to him, we are living in a technology-mediated world; one in which the customers demand more and more innovative solutions not only in the area of pervasive devices but in other modes as well. In his view, the successful launch of TDMobile is testimony to the vision of the Management of Zinox Group especially that of its Chairman Leo Stan Ekeh, who has continued to drive changes in the ICT industry.

In his Keynote address, Mr. Mattew Wilshire, chief executive officer of Etisalat Nigeria, saw a congruence between the indefatigable Nigerian spirit and the launch of TDMobile. In his words:

“I have been in this country for only about 18 months but I have been impressed about a number of things with this country. The most striking is the people. Nigerians are a resilient, vibrant people who love to take on new challenges and this is crystallized in the launch of new companies as the one we are witnessing today.

“It’s not an easy task but it is a similar story to ours at Etisalat as we are just six years old but we are proud to be associated with TDMobile as major partners.  I am optimistic that the launch of TDMobile signifies the beginning of a new dawn in the area of access to technology for Nigerians and we are glad to be a part of that.”

Mr. Stan Ekeh, chairman/chief executive officer of the Zinox Group, in a landmark speech, traced the history of the organization and also offered an insight into the future with the launch of TDMobile.

“ We are keen to expand the market and move from being the biggest ICT distributor in Sub-Saharan Africa to the  number one position in Africa and this we intend to achieve in the next 18months”. Mr.Ekeh said from October 2nd, Technology Distributions Ltd will split into three arms: TD-Mobile, TD- Mainstream and TD Solutions and Services distributions .He also announced that the group has raised N18B for expansion and our financiers insist we invest a percentage to expand TDGroup while a reasonable percentage is meant for Research and Development and local capacity building in support of the new local content policy of the federal government in the ICT sector. He appreciated the fund syndicators for the trust and assured of prudent use of the fund.  He also said part of the money raised will be for the establishment in Abuja of the single largest ICT Service and Support Center and Products Showroom in Africa. These will be commissioned before end of November this year and subsequently in other regions in Nigeria. “We are fulfilling these commitments this year” Mr.Ekeh said. He also announced the selection of TD Champions this year and assured that partners shall be selected based on their total achievement and winners shall in addition to other perks, will enjoy the benefit of direct mentorship by him.

Mr Ekeh also talked about a 24hour intelligent Hub that will go live in the month of November to support end users of ICT products from credible brands.

This and the authentication system will help reduce the abuse of the Nigerian ICT market with fake products.

He also assured friends, the Press and Partners of the Group, that the Group is tinkering listing in the stock Market but that is after achieving number One position in the whole of Africa. He advised all stakeholders in the industry to expect major global positive disruptions in the ICT sector and should be prepare to take advantage of these.

The event ended with a worldclass movie like multimedia presentation by TD-Mobile.


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Detained Binance executive drags EFCC, NSA to court

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Binance executive Tigran Gambaryan has has dragged the National Security Adviser Nuhu Ribadu and the Economic Financial Crimes Commission (EFCC), to court alleging violations of his fundamental rights.

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In a filing dated March 18 and presented by his lawyer Olujoke Aliyu from Aluko and Oyebode Law Firm, Gambaryan sought redress before Justice Inyang Ekwo, requesting five reliefs. Similarly, Nadeem Anjarwalla, Binance’s Africa regional manager who escaped custody on March 22, initiated a separate suit before Justice Ekwo.

Gambaryan and Anjarwalla, in the suits marked: FHC/ABJ/CS/356/24 and FHC/ABJ/CS/355/24, had sued the Office of NSA (ONSA) and EFCC as 1st and 2nd respondents.

Gambaryan, a US citizen overseeing financial crime compliance at the crypto exchange platform, alleged that his detention and the confiscation of his international travel passport violated Section 35 (1) and (4) of the 1999 Constitution, constituting a breach of his fundamental right to personal liberty. He further requested the court to order his immediate release and the return of his passport. Additionally, he sought an injunction preventing further detention related to any Binance investigations and demanded a public apology from the respondents, along with costs incurred.

Gambaryan stated that he visited Nigeria on February 26 alongside Nadeem Anjarwalla, representing Binance, in response to invitations from ONSA and EFCC. Despite attending the meeting as requested, both were detained afterward without formal charges.

During the court proceedings, T.J. Krukrubo, SAN, representing Anjarwalla and Gambaryan, informed the court of the respondents’ absence despite being served. Krukrubo also mentioned their notice of withdrawal of legal representation for Anjarwalla, filed on March 26.

Justice Ekwo noted the withdrawal of legal representation and adjourned the matter to April 8 to allow the applicants to seek new representation and give the respondents an opportunity to appear.

In Gambaryan’s case, Krukrubo stated that although the processes were served on ONSA and EFCC, they still had time to respond. He requested an adjournment, indicating that the respondents’ deadline to file their applications would expire the following week.

Consequently, Justice Ekwo scheduled the next hearing for April 8 to continue proceedings.


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AXA Mansard Empowers Female SMEs with Financial, Digital Skills

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AXA Mansard, a member of AXA has empowered 200 female Small and Medium Enterprises with financial literacy and digital business skills.

In collaboration with SME 100 Africa, the two-day training, which was held in Lagos, is part of AXA’s lined-up programmes to commemorate this year’s International Women’s Day.

Speaking, Olusesan Ogunyooye, Head of Marketing AXA Mansard, said the training was aimed to empower female SME owners with skills to improve business output and position them for the increasing economic opportunities available in an increasingly digital marketplace.

Ogunyooye noted that the move was in line with AXA Mansard’s sustainability agenda, explaining that the company was convinced that support for women through its inclusive protection programmes was pivotal to its purpose of acting for human progress by protecting what matters and its mission of moving from being a payer to a partner.

He further said that focusing on digital skills was important because the company realised the importance of digital skills to the growth of the SME sector in Nigeria and wants to ensure that women were empowered enough to be a consequential part of that growth.

“It’s almost trite to say that SMEs are the engine for economic growth, especially in developing countries like Nigeria, where over 45 million adults are business owners. What needs to be continually discussed is how Nigeria is going to unlock that potential for economic development and how much of that potential will be unlocked by women and for women.”

“For us at AXA Mansard, we are aware that digital will play a major role in unlocking these current opportunities and Nigeria’s economic future. So, to ensure that women are equally represented in unlocking these future potentials, that’s why we have collaborated with SME 100 Africa to support them in developing the required skills”.

“Our choice of digital and financial literacy skills is deliberate. We understand the power of the duo. We understand that helping these SMEs with the skills to attract more customers will be a faster means to empower them.

“We see that they have amazing products and services, but they need to understand how to attract value for themselves by attracting the right customers, and you will agree with me that virtually all customer segments are online in one way or another today.

“So, if we can empower them with digital business skills, we would have helped them with the heavy lifting of trying to find and attract customers”. Ogunyooye explained.

According to him, AXA Mansard believes that for the world to experience progress truly, there must be an equitable distribution of creation and access to opportunities for men and women. This quest for balance informed the SHE for Shield initiative, a women-centred inclusive protection programme of AXA Mansard.

SHE for Shield is a group of initiatives designed for the Nigerian woman. The goal is to see them grow, add value, and help them mitigate risks at every step.

According to the company, research has found that access to health care is one of the most important things to Nigerian women, regardless of their economic segment. They desire to be financially independent, secure, and respected in the community.

 


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IFC Invests in New 4DX Ventures Fund to Support Tech Startups in Africa

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IFC is investing $10.5 million in a new fund by 4DX Ventures, a New York-based venture capital firm focused on supporting early-stage African technology companies across a broad set of sectors, including fintech, e-commerce, edtech, climate tech, and health tech.

IFC’s investment in 4DX Ventures Fund III will come from IFC’s $225 million venture capital platform, which was launched last year to strengthen emerging VC ecosystems and invest in early-stage companies in Africa, the Middle East, Central Asia, and Pakistan.

Africa is among the regions least served by venture capital, receiving just 2% of global venture deal volume in the third quarter of 2023. Access to capital on the continent has been further exacerbated by a slowdown in global venture capital investment.

Tech ecosystems are nascent, or even nonexistent, outside of more established markets such as Egypt, Kenya, Nigeria, Senegal, and South Africa.

“IFC and 4DX Ventures share the commitment to supporting tech entrepreneurs with innovations that will help Africa leapfrog in critical areas such as climate, health care, fintech, e-commerce, and education,” said Walter Baddoo, Co-Founder and General Partner of 4DX Ventures.

“We look forward to partnering with IFC to help promising tech startups build transformative businesses and realize sustainable development impact on the continent.”

4DX’s new fund will invest in companies with tech solutions that can improve productivity, efficiency and competitiveness across Africa. The firm’s first two funds invested in companies such as Egypt-based e-commerce platform MaxAB, an IFC portfolio company; Ghana-based health tech firm mPharma; and Kenya-based B2B e-commerce platform Wasoko, formerly known as Sokowatch.

“By supporting the development of tech ecosystems in emerging markets, IFC’s venture capital platform aims to improve access to key services, boost business competitiveness, and promote job creation through digital transformation,” said Mohamed Gouled, Vice President of Industries at IFC.

“Our investment in venture funds such as 4DX Ventures will help African entrepreneurs access more financing and resources they need to scale tech innovations and bolster sustainable growth across the continent.

In addition to providing capital, IFC will work with 4DX Ventures to implement their environmental and social management system.


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