News
Trader Goes Emotional as Airtel Presents Him N10m Cash Prize in Red Hot Promo

Surprised to have emerged winner of N10 million in the ongoing Red Hot Promo Season 4, Chinonso Ikezulumba, a customer of leading telecommunications services provider, Airtel Nigeria, immediately fell flat on the floor as he was presented his prize at the telco’s office in Awka, Anambra State.
Chinonso, a petty fashion trader who resides in Awka, was invited to the Airtel office to pick up his cheque as one of the winners in the promo. According to him, he thought everything was just ‘story’ until the staff brought out the dummy cheque and the real cheque. When he realized that it was real he threw himself on the floor to prostrate and later got up to receive the cash prize.
He explained that his fashion business at Nnewi Market had since collapsed. And he had prayed during the Christmas to God to give him N10 million to restart his business. “God has answered my prayer through Airtel Red Hot Promo,” Chinonso said.
Chinonso further explained that he has several plans this year and the windfall will help him to achieve them. He was accompanied to the Airtel Office by his mother and two sisters.
Apart from Chinonso, many other Airtel customers across Nigeria have had their status turned around for good through the ongoing Red Hot Promo.
Recently, a traffic officer in Lagos, Oluwasegun Adesanya, won N10million Naira, while 48-year old Lagos-based trader, Mrs. Kemi Siwoku, smiled home with N1million, and an interior decorator, Mr. Olawunmi Olaosebikan, won N1m which he plans to use to restart his iron fabrication business. Many other customers have won cash prizes and airtime.
According to Airtel, over 360,000 customers will win different prizes in this year’s edition. Airtel will give away N200 million in cash prizes to customers in the promo. Eight lucky customers will win the weekly grand prize of N10,000,000 each while 60 customers will become instant millionaires, winning N1, 000,000 daily.
600 telecoms consumers will smile to the bank as N100,000 daily prize winners. Over the 60 day period, 6,000 participants will also emerge as N500 airtime winners, bringing the total number of winners in this year’s Red Hot promo to over 360,000.
To participate and win in the promo, Airtel customers simply need to recharge their lines, buy any voice or data bundle or take the deal of the day by dialling *340# to enter into the daily draw. The promo is point based and customers earn points based on the value of recharge or bundle they buy.
According to Airtel, multiple recharges earn customers more points, which in turn increase their chances of being selected in the daily draws. Customers who take the deal of the day by dialling *340# also earn additional points, which increase their chances of winning. Points represent the number of entries a subscriber has in the promo and the more points a customer has accumulated, the higher the chances of winning.
Participants accumulate and keep points they earn all through the duration of the promo. Customers’ numbers will, however, be in the draw only on the days they recharge, buy a bundle or take the deal of the day.
Customers can check the number of points they have accumulated in the promo by sending ‘POINTS’ as SMS to the short code, 340. This SMS is zero-rated, completely without charge. The promo will run till February 3rd 2016.
News
EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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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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