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How Genesys Startup Convergence Ignites Technology Flames in South East

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By peter oluka

Technology has been identified as a powerful tool to redeem and redirect the economy of Nigeria, especially the South East region.

Speakers and panellists made the unanimous view at GenesysIGNITE 2017, regarded as the biggest annual convergence of technology hubs and start-ups in the region.

The GenesysIGNITE start-ups convergence was held in Enugu on Friday, December 15, 2017  by Genesys Tech Hub in collaboration with CFAtech.ng; where three start-ups presented with cheque worth USD$10,000 each after emerging victorious at the pitch sessions.

Speaking at the epoch-making event with over 2000 start-ups drawn from Enugu, Abia, Uyo, Imo, Anambra, Delta, Ebonyi and other neighbouring states in attendance, Senator Ken Nnamani, erstwhile President of the Senate, Federal Republic of Nigeria, reiterated that the future of Nigeria belongs to the digital economy and will become visible if the country strategizes properly.

Senator Nnamani who chaired the event, underscored the need for educational institutions, especially the universities to ‘feed’ the technology industry with skilled manpower and graduates fit for purpose. He also showered encomiums on Genesys for the foresightedness in organising the event capable of igniting mind shift among the youths “from election ballot box snatching to technological evolution in the region”.

“What Genesys is trying to ignite in the South East and Enugu State in particular is awesome, by opening the eyes of our young people to tech disruptions and opportunities. It is important, because our people are ingenious and if we can apply the ingenuity in the tech ecosystem we can compete with the Silicon Valley. It is high time we shift our ingenuity from snatching ballot boxes during elections, and channel the strengths towards technology.”

Meanwhile, Kingsley Eze, founder and CEO of Genesys Tech Hub, said the main objective of the GenesysIGNITE was to discuss latest technology trends that impact the regions, and to proffer strategies for unearthing benefits in the various sectors of the Nigerian economy at large. Through the event, he said, they are also promoting innovative business solutions and ideas, currently propagated in the form of start-ups, within the region, culminating in capacity building and other exigencies to help them thrive.

Presenting the cash prizes to Tutor Finder, PlayJoor and House of Uwe, Dr. Ogbonnaya Onu, the Minister of Science and Technology, said that it was high time various research and development results were pulled off the shelves from the Nigerian universities and turned to commercial products.

“Any nation that produces science and technology experts is always the toast of the world. Genesys is doing what the Government has in mind with regards to youth development – capacity building, incubation, providing venture capitals. I can tell you that the Federal Ministry of Science and Technology will support this platform to ensure that the young people are given a space to express themselves and add value to the economy,” the Minister said.

Dr. Onu added that the Ministry through the National Office for Technology Acquisition and Promotion (NOTAP), the Federal government is addressing issues related to patent and intellectual property as means to safeguard investments and ideas of the young people.

Chukwuemeka Fred Agbata Jnr., founder, CFAtech.ng who moderated the panel session informed the youths in attendance that this is the type of events that has helped fuel the tech revolution in other parts of the country and that they owe themselves a duty to take full advantage of the opportunities that will follow GenesysIGNITE 2017.

On his part, Professor Umar Danbatta, executive vice chairman of the Nigerian Communications Commission (NCC) tied digital innovation and development to digital literacy, stating that Government needs to move towards the “pull” strategy with emphasis in the development of appropriate legal framework, applications and local content.

“Digital Access Programme (DAP) is being implemented by the regulator to equip secondary schools across the country with internet connectivity. More than 223 schools have benefited. Internet clouds are being provided within Nigeria’s university and polytechnics to foster improvement in digital literacy and application,” the EVC said through Mr. Tony Ojobo, director, Public Affairs at the Commission.

GenesysIGNITE 2017 has laid a solid foundation for technology development in the south east and south south regions of the country. 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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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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Climate Action Africa Announces CAAF24

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Climate Action Africa (CAA) has announced the inaugural convening of the Climate Action Africa Forum (CAAF24). This international event brings together stakeholders from across the world who drive thought leadership insights on how to encourage collaboration, catalyse actionable solutions, and urge governments, businesses, and individuals to invest in climate-smart initiatives.

The climate-focused event was announced at last week’s Friday international press conference held at the prestigious Transcorp Hilton Abuja. This marks a significant milestone in Africa’s journey towards a sustainable future. A precursor to the upcoming Climate Action Africa Forum scheduled for June 17-19, 2024, at the Landmark Events Centre in Lagos, Nigeria, this press conference brought together leaders, experts, and stakeholders from across the globe. The gathering’s main goal was to discuss the urgent need for sustainable development plans and climate-smart investments in Africa.

Framed by the theme “Green Economies, Brighter Futures: Innovating and Investing in Africa’s Climate-Smart Development,” the international press conference became a vibrant platform for insightful discussions, strategic collaborations, and impactful engagements. It convened an esteemed gathering of leaders, experts, and stakeholders to explore solutions for Africa’s pressing environmental challenges.

The event kicked off with a welcome address by the Executive Director and Co-founder of Climate Action Africa, Grace Mbah, who having announced the commencement of event registration as April 2nd, 2024, made the call for tech-driven solutions and innovations in the fields of emissions reduction, transportation, agriculture, energy, circularity and building and construction to apply to participate in the deal room.

Providing insights to attendees on how innovative approaches and collaborative action is at the heart of CAAF24, she extended an opportunity to like minded organisations who would like to partner by hosting side events and finally, a call for volunteers from across the continent.

“It’s no news that the world stands at a critical juncture, where decisive action is imperative to mitigate the adverse impacts of climate change. Against this backdrop, CAAF24 serves as a pivotal platform for key stakeholders to engage in meaningful discourse, and forge collaborative pathways towards a greener, more sustainable future.

The essence of CAAF lies in its commitment to shaping a climate-resilient Africa through co-creation, innovation, and sustainable investment. Through this initiative, we aim to catalyse solutions that enhance the sustainability and prosperity of the continent’s natural resources, people, and economies,” Grace stated.

During the International Press Conference, distinguished speakers and thought leaders emphasised the urgent need for collective action in tackling Africa’s climate challenges.

They delved into critical topics like renewable energy, sustainable agriculture, biodiversity conservation, and climate finance, offering practical insights and inspiring initiatives.

Jummai Vandu, representing the National Council on Climate Change, expressed optimism about the initiative’s outcomes. “Today’s discussions,” she said, “underscore the urgency of our collective efforts to combat climate change. The National Council believes working together is key to driving meaningful action and creating a more sustainable future for Africa and beyond.”

With the International Press Conference complete, the stage is set for CAAF24. Stakeholders will converge to translate ideas into action, forge partnerships, and drive progress towards a climate-smart Africa.

Mrs. Taiwo Fashipe, Head of Media for the Presidential CNG Initiative (P-CNGi), echoed similar sentiments, stating: “The theme of this year’s Climate Action Africa Forum aligns with our goals, vision, and mission at the Presidential CNG Initiative.

“We look forward to using this platform to advance interest in and investment in greener and cleaner energy sources like CNG.”

Standing at a crucial juncture in Africa’s quest for sustainable development, CAAF24, convened by Climate Action Africa in partnership with the National Council on Climate Change, Channels Media Group, and Founder Institute, emerges as a beacon.

It brings together the private and public sectors, guiding the continent towards a future marked by resilience, prosperity, and environmental stewardship.

 


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