She Leads Africa, a social enterprise dedicated to fostering the spread of business growth and ideas in Africa, is hosting its inaugural Entrepreneur Showcase.
The Entrepreneur Showcase holds on September 20, 2014, at Terra Kulture in Victoria Island, Lagos and will provide female entrepreneurs the opportunity to pitch their business ventures to a panel of potential mentors and investors and compete for cash and prizes.
Founded in 2014 by Yasmin Belo-Osagie and Afua Osei, young women passionate about female entrepreneurship in Africa, She Leads Africa is a platform that looks to empower female entrepreneurs in the continent.
They have identified unequal access to education, cultural stereotypes, limited networking opportunities and limited access to finance as the 4 key barriers preventing women from taking part in Africa’s growth story.
With an acceptance rate of less than 3%, ten entrepreneurs were selected from the list of almost four hundred applicants from twenty seven countries.
Prizes for the winners include financial prizes of US$10,000 and US$5,000 to the winner and runner-up, respectively, as well as non-financial prizes such as phones and tablets, brand consultation, free office space, access to prominent venture capitalists and angel investors, and additional tools needed in order to expand their existing start-ups and achieve their business dreams.
“We are incredibly excited about the finalists for the inaugural She Leads Africa competition,” said Yasmin Belo-Osagie, the co-founder of She Leads Africa.
“These finalists represent some of the best and the brightest entrepreneurial talent in Africa, and we look forward to seeing the outcome of the competition.”
“Starting a business is challenging for any young person in Africa and at times the challenges can multiply for young women,” said Afua Osei, the Co-Founder of She Leads Africa.
“Access to education, financing, and useful networks are limited, and cultural stereotypes can curtail a woman’s ambition. She Leads Africa’s vision is to provide entrepreneur development, networks and funding for promising female entrepreneurs who have the ambition and drive to be the business leaders of tomorrow, building companies that will become pan-African and global leaders.”
She Leads Africa’s 10 finalists will have a month long period of business consultancy with key figures in the private equity, management consulting, and financial industries.
These mentors will work hand in hand with the entrepreneurs on their business plan development, go to market strategy, financial modelling and pitching skills before the showcase.
“Africa as a whole is poised for greatness, with significant potential for wealth,” further commented Afua Osei. “With the guidance and mentorship of those that have become proven successes in their fields, we can make sure that this new period of growth creates opportunities in new sectors and for a new generation of Africans.”
This year’s adjudication panel will include notable business people, including, Hakeem Belo-Osagie: Serial entrepreneur and Africa’s 34th wealthiest man. Mr Belo-Osagie currently sits on the global advisory board for the Council of Foreign Relations and the Brookings Institute and Ngozi Edozien: Founder of InVivo partners and non-executive director at Barloworld, PZ Cussons, and Vlisco. Ms Edozien is also the former head of West Africa for emerging market focused PE fund Actis.
Bola Adesola, chief executive officer of Standard Chartered Nigeria and a member of the Aspen Global Leadership Network, will also be there.
This year’s showcase features female entrepreneurs across a broad range of sectors: retail, manufacturing, e-commerce, information technology, and transportation.
Finalists come from across the continent and diaspora, including Nigeria, Ghana, Morocco, South Africa, United Kingdom and the USA.
The competition will place a spotlight on the women that are driven to developing Africa’s growth story through fostering commerce.
Founded in 2014 by Afua Osei and Yasmin Belo-Osagie, She Leads Africa is a platform that provides the most talented female entrepreneurs across the continent with access to the knowledge, networks and financing needed to build and scale strong businesses.
She Leads Africa aims to jumpstart female entrepreneurs from Small to Medium Enterprises (SMEs) to pan-African industry leaders, and to become a staple of the African investment community.
CBN Pulls Rate Cut Trigger, King Dollar Returns
By Lukman Otunuga, Senior Research Analyst at FXTM,
In a move that caught investors off-guard this week, the Central Bank of Nigeria (CBN) slashed interest rates by 100 basis points bringing the MPR to 11.5%. Given how inflation has been above target since 2015, rates were expected to remain unchanged for the rest of 2020 and possibly early 2021.
The question on the mind of many is whether the rate cut will achieve the desired effect by stimulating consumption and economic growth? Ongoing border closures and disruptions created by COVID-19 have pushed inflation to levels not seen since March 2018 above 13.20% while a drop in the production and price of Oil continues to rub salt into the wound. While looser monetary policy could support growth, it may come at the cost of rising inflation and weaker Naira.
Over the past few months, central banks across the globe have deployed unprecedented measures to defend their respective economies against the coronavirus menace. However, fiscal policy has been identified as the sharper tool with governments across the world providing a critical lifeline to keep the wheels of their respective economies rolling.
Outside of Nigeria, King Dollar made a return by appreciating against every single G10 currency. In times of uncertainty, everyone wants a juicy piece of the world’s most liquid currency. As coronavirus cases rise in Europe and other parts of the world, the flight to safety is likely to boost appetite for the Dollar. This is bad news for many emerging markets currencies, especially those with high Dollar-denominated debt.
On the commodity side, Oil prices remain heavily influenced by demand-side factors and the state of the global economy. Prices are likely to remain stuck around the $40 regions in the near term, especially If another round of possible lockdowns hit Oil demand. Looking at the technicals, WTI Crude is under pressure on the daily charts. If prices are unable to break away from the sticky $40 regions, the next key point of interest remains around $38. A weekly close above $41.50 could pave a path towards $43.
NCC Arrests Man for Hacking into DSTV System
Nigeria Copyright Commission (NCC), has arrested one Mr Aliu Olalekan, for allegedly hacking into DSTV system and watching the channels free without subscription.
Mr Matthew Ojo, NCC Director in the Lagos Directorate Office said this while speaking with newsmen in Lagos, on Tuesday.
He said that the suspect used to watch DSTV channels free without subscription on his Android phone via an app which he downloaded on google play store.
“This suspect distributed the know-how to his telegram followers and on his blog with the aim of gaining more followers and viewership on his blog and makes more money through google ad-sense.
“The operation was based on surveillance which had earlier been carried out by the Multi-choice team and verified by a copyright inspector, ” he said.
He added that the arrest was made in collaboration with a team of copyright inspectors led by the Head of Enforcement Department, Mr Charles Amudipe.
Others included; a team from Multichoice Nigeria led by Mr Umar Ibrahim and policemen from Lagos Command Headquarters, Ikeja.
Ojo said that the joint team conducted an anti-piracy operation at the premises of the culprit in Amukoko, Lagos.
According to him, the suspect was contacted on phone by a member of the operation team on the disguise of patronising him. “The suspect came out to meet the caller and in the process of discussion, he was apprehended.
“The suspect took the team to his resident. The squad paraded his one-room apartment and recovered his laptop and phones used in perpetrating the ungodly act. “He was arrested and brought to the copyright commission office for further investigation, ” he said.
Ojo said that, on getting to the commission’s office, the statement of the suspect was taken and the inventory of items seized from him taken. He said that investigation on the matter was still ongoing and if found guilty the suspect will be charged to court.
NCC, Digital Encode Support NITRA Innovative Tech Forum On Post-COVID-19 Strategies
The Nigerian Communications Commission (NCC), Nigeria’s telecommunications regulator and Digital Encode, Cybersecurity and Compliance advisory company, have indicated interest to partner with the Nigeria Information Technology Reporters Association (NITRA), the national umbrella body of ICT reporters, as it organizes a forum that will x-ray the industry’s future plans for ICT growth post pandemic era.
The event, slated to hold on October 15, 2020, will seek to discuss the needs for a fortified ICT sector after the COVID-19 era, and the level of preparedness of ICT stakeholders to embrace the challenge of being pivotal to the stability and growth of all other sectors.
A statement from NITRA National Secretariat in Lagos indicates that due to the pandemic and need to observe the COVID-19 protocol on social distancing, the event will be held via a Webinar.
This year’s theme, “Multi-stakeholder Approach To National Recovery Post-Pandemic”, is in line with the annual event’s generic theme, ‘NITRA Innovative Tech Forum’, a contribution by NITRA to the development of Information and Communication Technologies (ICTs) innovations and policies in Nigeria.
Prof. Umar Danbatta, executive vice chairman, NCC is expected to deliver the keynote speech at the event and will throw more light on Federal Government’s plans, programmes and policies on post-pandemic strategies using ICT.
Dr. Adewale Obadare and Dr. Seyi Akindeinde, founders of Digital Encode, while accepting to support the event expressed their readiness to offer their expertise in Cybersecurity for organisations to prepare against cyber- attacks with the new normal.
They will also highlight areas that are high risks that need fortification in terms of cybersecurity.
Speaking on the event, Mr. Chike Onwuegbuchi, national chairman, NITRA, noted that as the COVID-19 pandemic continues to leave its negative trails across the globe, economic reboot for countries will not only depend on how well they readapt to the new normal, but also more on their recovery plans.
According to him: “While the federal government has consistently expressed its willingness to set all policies in place to engender growth, and accelerated implementation of these policies, private sector firms have also shown great hunger for the task ahead in post-COVID-19 era.
However, the question that needs to be answered is whether all stakeholders are ready for the required task ahead.”
The event will also offer participating companies opportunities to publicize some of their individual efforts at contributing to reacting a soft landing or lifeline for SMEs and other ancillary companies as the pandemic threatens their survival.
Digital Encode is a multi-award winning and leading consulting and integration firm that specializes in the design, management, and security of business-critical networks, telecommunications environments and other Information Technology (IT) infrastructures.
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