News
Two Startups Win at CFA’s Startups Hangout as speakers pass on valuable nuggets to Startups
By peter oluka
The last edition of CFA’s Startups Hangout for 2017, was held on Friday, November 24, 2017 at Adna Hotel, GRA, Ikeja. The edition featured a Pitch session two Startups pitching.
Before the Pitch session, however, the invited speakers at the event, John Obaro, MD, SystemSpecs, (Remita) and Jane Egerton-Idehen, Country Manager, Avanti Satellite Communications , gave the attendee Startups some nuggets on what and what not to do, if they want to successfully run their Startup businesses.
First to speak was John Obaro, MD, SystemSpecs, (Remita). John was full of praises for the CFA team for organising the Start-ups Hangout.
He gave a vivid illustration of the power of technology, when he revealed that he had to resort to the use of the Google Map to guide him through the heavy traffic to arrive at the venue of the Hangout event, way ahead of some members of his staff that left the office earlier than he did, but we’re still stuck in traffic.
John, then, gave the Startups 19 nuggets that can assist them to run a successful business and also, to scale.
Some of these nuggets, as analysed here, include the fact that the Start-ups should be ethical in their approach to doing business and also have integrity. He admonished the Startups not to cut corners if they want to play for the long haul.
John also emphasised the need for the Startups to respect their employees, even though, they pay their salaries, as they cannot do the job alone.
He also stressed the need for the Startups to learn to work hard, stating that, being an entrepreneur calls for giving 24 hours attention to the business and they should not see it as an 8:00am to 5:00pm job schedule, if they want to succeed in it.
Another critical nugget that John passed on, is the fact that the Start-ups should get legal advise, all the way through the journey of their business, so as not to run into problems along the way. He also advised the Startups to learn to walk away from business deals that, in the end will make them lose focus of their objectives and goals and then, bring problems to the business, sooner or later.
“Not all jobs are for you, although, they may look attractive”, he stressed. He, however, agreed that this could be a tough call for a budding Startup, who needs to keep body and soul together as well as keep his business afloat, but he advised that they should be smart in choosing.
Startups should pioneer their own solutions, according to John. “It’s nice to copy, but it is better to be a pioneer. Pioneer your own solutions. Learn to carve out something distinct”, he encouraged the Startups.
Jane then, took the stage. She gave a different perspective to the whole scenario, when she stated that she was going to talk about her failure story, so that the Startups could learn what not to do. “Many successful entrepreneurs, always talk about their success stories and say nothing about the business they tried out, but failed in”, she stressed. “I am going to talk about a business I tried my hands on and failed in, so that you can learn what not to-do from it”, she explained.
Jane said that she started a business with some of her friends some years ago, called Moma, a fashionware outfit that pregnant women can patronise to get fitting wears for themselves during pregnancy. The first blunder that she and her partners made, was that none of them knew about fashion design processes.
She stated that, not until she started negotiating with factories in China and in India and she started to hear some fashion designing terms that were strange to her, that she now had to attend a Fashion Design school to keep herself up to date. According to Jane, the first lesson to learn, therefore, is to know the business you want to go into, in and out.
Jane also stated that, when the business was failing and there came a time to make a choice as to whether to source for more funding or wind down the business, she realised that her friends who were her partners were not interested in acting on any of the options and she stated that she just had to walk away from the business, preferring to lose all her investments instead of destroying friendship.
The lessons to learn here, she stated include the fact that, no matter who you are going into business with, whether they be your friends or whoever, always have a Memorandum of understanding drawn before you commence the business. Do not overlook the legal aspects of your business as this could be crucial in defining a lot of things in future.
Jane ended by saying that, as an entrepreneur, Startups should carve out time for their business and not just leave it solely for their Managers to run.
Out of the three Startups that were shortlisted and invited to participate in the pitch session, only two showed up. The two were Touchabl.com and wokkaholic.com.
Touchabl, according to Gabriel Eze, the Founder/UX Designer, is a platform, where you can instantly search for anything in a picture by touching it. He explained the attributes, traction, income and profit potentials, etc., of the business as well as what the business will be needing to move on to the next level.
Likewise, Victor Tams, Founder/CEO of Wokkaholic.com, explained that the platform is one, where professional skill-based services, such as graphic artists, etc., can be sourced. He also explained the modus operandi of the business, attributes, traction, income and profit potentials, etc.
At the end of the day, it was decided that the two Startups, who incidentally both came all the way from Port Harcourt, be given the opportunity of featuring in an interview with me on Tech Trends on Channels Television.
Ehi Braimah, the chairman of Neo Media & Marketing Limited, graced the November 2017 edition of the CFA’s Startups Hangout with his attendance.
The November 2017 edition of CFA’s Startups Hangout was sponsored by TAMS and Remita.
The organizers thanked the Media partners, Guardian Tech, NigeriaCommunications Week, Connectnigeria, ITPulse, Cyber Africa and Technext.ng for their continued support in publicising the event for the benefit of the numerous Startups.
Watch out for the next edition of CFA’s Startups Hangout @ http://startups.cfatech.ng
Dr. Bosun Tijani, the minister of communications, innovation and digital economy, has urged African leaders to unite in building shared AI infrastructure or risk marginalisation in the global economy.
Tijani made the call on Monday in Abuja at the inaugural GITEX Nigeria Summit 2025, a four-day technology event focused on advancing digital transformation and innovation with nationwide.
He urged continental collaboration to close Africa’s productivity gap and secure the continent’s place in the emerging AI-driven global economy.
Tijani said Africa faces a clear threat: without intentional action, artificial intelligence could deepen the global productivity divide. In his keynote address, he stated, “If we are not deliberate, AI will widen the global productivity gap. Countries that are already ahead will accelerate further, while those still trying to catch up will fall behind.”
To illustrate this, he referenced agriculture, noting that Nigeria yields about 2.5 tonnes of maize per hectare, compared to 6 tonnes in South Africa and 12 tonnes in Brazil.
The difference, he explained, is not due to land or rainfall, but to productivity gains driven by technology and AI-powered precision farming.
Tijani identified four key pillars to guide Africa’s approach to AI: balancing national sovereignty with shared governance, equipping young people with technical skills, digitizing local realities to develop relevant datasets, and making joint investments in infrastructure — including internet connectivity, computing capacity, and clean energy.
He highlighted the importance of Africa’s youth, calling them the continent’s greatest asset. As an example, he pointed to Nigeria’s 3 Million Technical Talent (3MTT) program, which aims to build a workforce prepared for the demands of an AI-driven economy.
The minister emphasized that without digitizing African datasets related to language, health, and agriculture, the continent will continue to rely on foreign AI models built from data that “do not represent us.”
Following the sessions in Abuja, the event will move to Lagos for the Tech Expo & Future Economy Conference, scheduled for September 3-4 at the Eko Hotel Convention Centre. A Startup Festival will also take place at the Landmark Centre.
On infrastructure, Tijani stressed that no single country can bear the financial burden alone.
He explained, “AI relies on three essentials: connectivity, computing power, and clean energy. These resources remain costly and unevenly distributed across Africa. We must work together on medium- and long-term strategies to reduce costs and enable inclusive participation.”
He added with an inspiring message, “Our children should one day look back and say: our leaders prepared us, our leaders secured our future, and our leaders made sure Africa was not left behind.”
Trixie LohMirmand, the executive vice president of Dubai World Trade Centre and CEO of KAOUN International, highlighted the importance of global cooperation in advancing Africa’s digital economy.
She noted that partnerships between Nigeria and international stakeholders can foster innovation, attract investment, and position Africa as a leader in the global tech arena.
Also speaking, Kashifu Inuwa, Director General of NITDA, opened GITEX Nigeria 2025 with a welcome address emphasizing the need for continental unity in Africa’s AI development.
He stressed the importance of building shared infrastructure, developing algorithms rooted in African values, and establishing strong policies to ensure the continent takes an active role in the AI revolution.
Nigeria has emerged as a leader in AI innovation on the continent. Ranked among the world’s top 60 countries in AI development, Nigeria recently unveiled a National Artificial Intelligence Strategy created through collaboration between academia and industry.
To advance this strategy, the government launched the Nigerian Artificial Intelligence Collective Industry, aimed at connecting local researchers with international experts and fostering cross-border cooperation.
The four-day event, held from September 1 to 4 in Abuja and Lagos, is supported by the Ministry of Communications, Innovation and Digital Economy alongside the National Information Technology Development Agency.
In a landmark move to restore professionalism and integrity in Nigeria’s education sector, the Federal Government has unveiled a Teacher Ethics and Criminal Record Verification Framework, making background checks compulsory for all teachers in public and private schools.
The initiative, announced by the National Orientation Agency (NOA) and spearheaded by Minister of Education, Dr. Tunji Alausa, aims to ensure that only individuals of sound moral character are entrusted with educating Nigeria’s future generations.
“This framework is about accountability,” said Dr. Alausa. “We must be deliberate about who we allow to shape the minds of our children.”
The verification system will be integrated into the Teachers’ Registration Council of Nigeria (TRCN) digital portal, which now serves as a national database for teacher registration, licensing, and monitoring. The portal allows educators to register, access results, and print certificates remotely—eliminating the need for physical visits to state offices.
The TRCN platform also features AI-powered lesson planning tools, a revised Professional Qualifying Examination focused on five core areas including mathematics, literacy, and pedagogy, and state-level investigation panels to address misconduct and uphold ethical standards.
According to TRCN Registrar Prof. Josiah Ajiboye, Nigeria has nearly four million teachers, but only 2.4 million are currently registered with TRCN.
A significant portion of private school teachers reportedly lack the qualifications required for registration, which include a Bachelor of Education (B.Ed.), or a BSc/BA with a Postgraduate Diploma in Education (PGDE) or Professional Diploma in Education.
The TRCN, established under Decree No. 31 of 1993 (now TRCN Act CAP T3 of 2004), is mandated to regulate and control the teaching profession across all levels of Nigeria’s education system.
The new framework is expected to curb impersonation, certificate forgery, and the hiring of unqualified staff—issues that have long plagued Nigeria’s schools. It also signals a broader push toward digitization, transparency, and ethical reform in education.
Keystone Bank has signed a landmark Memorandum of Understanding (MoU) with the Lagos Chamber of Commerce and Industry (LCCI) to further support Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.
The MoU marks the official launch of the MSME Mini Business Boot Camp, an initiative designed to empower entrepreneurs, strengthen small businesses, and promote inclusive economic growth across the country.
The ceremony, which took place on Thursday, 28th August 2025 at the LCCI headquarters in Lagos, was attended by senior executives from both institutions, industry stakeholders, and members of the media.
Speaking at the event, Mrs. Olayemi Sule, Group Head, Retail and Digital Banking at Keystone Bank, expressed pride in the partnership.
According to her, “This Memorandum of Understanding between Keystone Bank and the Lagos Chamber of Commerce and Industry underscores our shared commitment to the growth and empowerment of SMEs in Nigeria.
“At Keystone Bank, we believe small and medium enterprises are the backbone of the economy. Through this collaboration, we aim to equip entrepreneurs with the skills, knowledge, and tools they need to thrive and contribute meaningfully to national development.
“Our support goes beyond financial services—we are committed to building capacity and unlocking potential. Together with LCCI, we look forward to nurturing a new generation of resilient, innovative business leaders who will shape the future of the Nigerian economy,” she said.
Also speaking, Mr. Gani Adebayo, Regional Head, Lagos Island, Keystone Bank, emphasised the Bank’s dedication to creating sustainable opportunities for MSMEs.
He noted that the partnership would “bridge critical knowledge gaps and provide practical solutions that enable small businesses to scale successfully.”
On her part, Dr. Chinyere Almona, Director General/CEO of LCCI, expressed optimism about the initiative, describing it as “a catalyst for entrepreneurial growth, enhanced business competitiveness, and a significant contributor to the nation’s economic advancement.”
The MSME Mini Business Boot Camp will provide hands-on training, mentorship, and access to critical resources for entrepreneurs and small businesses across various sectors. The initiative reinforces Keystone Bank’s commitment to financial inclusion, enterprise development, and driving sustainable economic growth in Nigeria.
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