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Startup Leaders, Others to Meet @ #StartupSouth4 in Owerri

Owerri the capital of Imo State will play host to #StartupSouth4 – arguably the biggest Startup and Entrepreneurship conference in the South-South and South-East in November.
Every year, #StartupSouth brings together the brightest startup founders, leading entrepreneurs, early stage investors, policy makers and startup incubators to a city in the South-South or South-East and allow them to connect, learn from each other and most importantly for founders in the region to secure investment.
It is also an opportunity to showcase the cities in the South-South/South-East and promote their potentials to potential investors.
Participants at this year’s edition will have the opportunity to tour Owerri and enjoy a boat ride on the famous Oguta Lake.
After the last edition at Aba, two startups have gone on to raise combined $40,000 with another raising a follow-on seed of more than $20,000.
Cumulatively, over $350,000 has been raised by #StartupSouth Alums with several more currently at different stages of deal negotiations.
“The main objective is to educate, connect and attract investment to Startups and Founders in the
regions.”
The theme of this year is Nichely, Strongly, Global – an exploration of how cities within the region can go niche, amplifying their positions of strength to compete favorably in an interconnected globlized world.
#StartupSouth4 will provide a unique opportunity for startups to connect with investors, strategic partners, leading incubators/accelerators, and professional service firms from within and across the regions.
The conference will feature Fireside chats with Successful Startup Founders, Policy Makers and Investors from across the world, Pitch Sessions, third party content/panel programming, Networking and post conference party and a boat cruise at the beauteous Oguta Lake.
Worthy of note is that this year, #StartupSouth is taking experimental steps to becoming an Event-as-a-Platform model featuring contents by partnering organisations. Brands, business communities, associations and anyone with a great content proposal capable of adding value to the participants (especially the Startup/SME communities) will be reviewed and approved.
The regular pre-conferences (now #Foretaste) – a pre-event/Tour of Ten different cities within the region – is scheduled to start on July 20, 2018 in Port Harcourt. #StartupSouth4 #Foretaste enlists a set of exciting activities leading up to the main event featuring Business Townhall meetings, Panel Session, interviews, Product presentation by partners, gifts and more.
Some invited guests #StartupSouth4 include HE, Prof. Yemi Osinbajo, Vice President, Federal Republic of Nigeria (unconfirmed), DG of SMEDAN, Governors and Representatives of Government of States in the South-South and South-East, Heads of Corporations and the Organised Private Sector Leaders. Others include Mr. Innocent Chukwuma (Regional Director, West Africa, Ford Foundation),
Mr. Collins Onuegbu (Vice-Chairman, Signal Alliance & Director, Lagos Angel Network), Jason Njoku (Founder IROKOtv), Bosun Tijani (Co-Founder, CCHub), Rotimi Williams (Founder, Kereksuk Rice Farms), Yewande Kazeem (Founder, Wandie Media), Onyeka Akumah (founder, FarmCrowdy) and many more.
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AfDB Supports Francophone Africa Start-ups with €6.5M

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.
News
Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

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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