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Four Nigerians Make Africa Netpreneur Prize Initiative Top 10 Finalists List
The Africa Netpreneur Prize Initiative (ANPI) has identified the top 10 finalists for its grand finale event taking place in Accra, Ghana on 16 November 2019. Among them are four Nigerian netpreneurs.
The finalists were chosen from nearly 10,000 applicants from 50 African countries. After months of judging and deliberation, the finalists were shortlisted and will now go on to pitch their business directly to four finale judges – Jack Ma, Founder of Alibaba Group and the Jack Ma Foundation; Strive Masiyiwa, Founder and Executive Chairman of Econet Group; Ibukun Awosika, Chairman of First Bank of Nigeria and Founder/CEO of The Chair Centre Group; and Joe Tsai, Executive Vice Chairman of Alibaba Group – during a televised finale event called “Africa’s Business Heroes”. The winners will receive a share of the $1 million USD grant prize pool.
The Jack Ma Foundation will host a full-day Africa Netpreneur Summit, an invitation-only conference where African and global entrepreneurs, investors, educators, and leaders will convene to discuss how best to enable entrepreneurship and the digital economy across the continent. Guest speakers at the conference will include Ban Ki-moon, Former UN Secretary General and Co-chair of the Ban Ki-moon Centre for Global Citizens. The conference will be followed by the “Africa’s Business Heroes” event in the evening.
“We launched the Africa Netpreneur Prize Initiative to identify top entrepreneurs from across the continent, not only to reward them but to inspire a whole new generation of potential gamechangers for Africa. I have been inspired by the entrepreneurs I met in Africa, many of whom are dealing with the same challenges we faced when we started Alibaba years ago. I truly believe the potential of Africa’s business heroes is limitless,” said Jack Ma, Founder of Alibaba Group and the Jack Ma Foundation.
“Africa’s Business Heroes” will air on November 29. More details of how to tune in to the program will be released in the coming weeks. Highlights from the Africa Netpreneur Summit will also be shared via ANPI social media handles. Follow along on Facebook, Twitter, and Instagram.
The diverse group of 10 finalists represent a range of industries and experience.
The finalists: Waleed Abd El Rahman, CEO, Mumm (Egypt)
Mumm is a virtual cafeteria for businesses, harnessing the power of shared economy through technology, cloud kitchens and an online marketplace for home-based entrepreneurial cooks. Waleed is a seasoned entrepreneur with 12+ years in food tech. He is also the former founding managing director of MIT Technology Review-Middle East and a member of the Advisory Committee of the World Economic Forum’s Global Shapers Community.
Ayodeji Arikawe, co-founder, Thrive Agric (Nigeria)
Thrive Agric is an agricultural technology-enabled company that works with smallholder farmers to enable them with greater access to finance, as well as improve their income and harvest distribution. Today, Thrive Agric works with 22,000 farmers in Nigeria, but the company is aiming to build the largest network of farmers in Africa. They are on a mission to “build an Africa that feeds the world and Itself.” Ayodeji is an accomplished software engineer and serves as both co-founder and CTO for Thrive Agric.
Temie Giwa-Tubosun, founder and CEO, LifeBank (Nigeria)
LifeBank is a medical distribution company that uses data and technology to help health workers discover critical medical products. The company has saved over 5,300 lives in Nigeria. Founder Temie has over 10 years of health-management experience with Department for International Development, the World Health Organization, the United Nations Development Programme and Lagos State. In 2014, BBC listed her as one of the 100 women changing the world. She was also recognized by Quartz and the World Economic Forum.
Mahmud Johnson, founder and CEO, J-Palm (Liberia)
J-Palm Liberia (JPL) was founded with the goal of making premium consumer goods while creating income-earning and employment opportunities through sustainable palm-oil production. When JPL was first founded, palm oil kernels had been going to waste in Liberia, but founder and CEO Mahmud Johnson found a way to innovate productive uses for this overlooked natural resource.
Today, JPL has created a range of beauty and clean-energy products, built a robust network of partnerships across the country, and helped to create jobs for hundreds of Liberians. Mahmud holds a degree in economics from Dartmouth College and is a 2017 recipient of the Order of the Star of Africa conferred by the President of Liberia.
Kevine Kagirimpundu, co-founder and CEO, UZURI K&Y (Rwanda)
UZURI K&Y is an African-inspired ecofriendly shoe brand established in Rwanda. Kevine is the co-founder and CEO of UZURI K&Y, and she is passionate about ending global waste while also leveraging her creativity to create employment opportunities for her community.
UZURI has made a direct impact on more than 750 people through employment and skills training. In addition to obtaining her degree in creative design, she has participated in numerous entrepreneurship programs to enhance her skills in business development. In 2017, she was recognized as the winner of the Made in Rwanda Enterprise of the Year.
Christelle Kwizera, founder, Water Access Rwanda (Rwanda)
Water Access Rwanda pioneered INUMA™️, a Safe Water Microgrid that reclaims broken boreholes and transforms them into state-of-the-art solar-powered water kiosks and pipelines. The water is sold for $1/1000 litre and creates off-farm jobs for youth.
Currently, Water Access Rwanda employs 68 people, and allows 47,612 customers to access water daily across 86 stations. Christelle is a mechanical engineer and was named INCO’s woman entrepreneur of the year in 2019, among other high-profile awards.
Dr. Tosan J. Mogbeyiteren, founder, Black Swan (Nigeria)
WeMUNIZE by Black Swan Tech Ltd is helping to solve Nigeria’s public-health challenges by deploying an automated scheduling, GPS-enabled software-as-a-service that uses a combination of digital record keeping and community engagement to increase birth registration and early childhood immunizations.
Black Swan is working with USAID Nigeria to expand WeMUNIZE coverage in northern Nigeria. Tosan is a public-health specialist with more than 13 years of experience in deploying technology to solve development challenges in Nigeria.
Chibuzo Opara, co-founder, DrugStoc (Nigeria)
DrugStoc is a cloud-based pharmaceutical IT and logistics platform focused on eliminating counterfeit drugs, expanding access to pharmaceutical products and improving transparency in pricing for healthcare providers and the product supply chain. Chibuzo is a health economist and medical doctor with over 12 years of experience in the health sector. He has worked with the World Health Organization, the World Bank, and the International Finance Corporation.
Dr. Omar Sakr, founder and CEO, Nawah-Scientific (Egypt)
Nawah-Scientific is the first private research center in the MENA region focused on natural and biomedical sciences that offers analytical and scientific services online and on-demand. Dr. Sakr has 13 years of pharmaceutical experience, has worked as an adjunct assistant professor of entrepreneurship at Zewail City of Science and Technology, and holds scientific and business awards for innovative product design.
Moulaye Taboure, co-founder and CEO, Afrikrea (Cote D’Ivoire)
Afrikrea.com is the leading “Made of Africa” fashion, art and handicraft online marketplace. The marketplace has processed more than $4 million in sales across 101 countries and supports merchants from all over the world. After growing up in Mali and working for companies like PricewaterhouseCoopers and Alstom, Moulaye now dedicates his time to building the global infrastructure for African culture.
Nigerian Education Loan Fund (NELFUND) has said that Nigerian students will need to present their Unified Tertiary Matriculation Examination registration number (UTME); National Identification Number (NIN); and Bank Verification Number (BVN) to access student loans.
Mr Akintunde Sawyerr, managing director of NELFUND, assured that the body would ensure that those he called ‘ghost students’ would not have access to the soon-to-be-launched scheme.
The MD noted that NELFUND has put processes in place to ensure that all applicants and beneficiaries are traceable to prevent the loan from turning into a sort of national cake.
“We are using technology to run the system. The process of application is online and we are limiting human contact as much as possible. Once you have a Bank Verification Number, BVN and National Identification Number, NIN, which are parts of the requirements, we will have access to your data and all your accounts. This will also help us to know if you are qualified or not,” he explained.
He explained further that those who are already in school can apply for the loan at any level of their study, but must be at the beginning of each session. They would also have to provide their admission and matriculation details in addition to BVN and NIN.
According to the NELFUND boss, about 1.2 million Nigerian students in tertiary institutions and government-recognized skill acquisition centres would be among the first batch of beneficiaries. The number may increase as time goes on.
The programme, he noted, will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS), which will amount to N194 billion if the agency meets its projection.
He explained that the loan would be paid in two segments. The first, he said, is the chargeable school fees which would be paid directly to the institutions while stipend would be paid into individual student’s account for day-to-day upkeep.
Mr. Sawyerr stated that the amount individual applicants will access will vary because of the course of study, school fees payable and geographical location of the institutions among others.
On the method of payback, he said, “You don’t start paying back the loan until two years after your National Youth Service Corps, NYSC Scheme and that is, if you have secured a job or business. A beneficiary can defer repayment if he has not secured a job, but if after due diligence, he defaulted, then he becomes a criminal and we will work with every agency that can help us get the money back, for example, EFCC, ICPC etc.”
Sun International Limited, run by Anthony Leeming, South African entrepreneur, has agreed to sell its Nigerian interests to Rutam Finance Company Limited (RFC) for roughly $14.4 million.
The move is part of Sun International’s strategy to consolidate operations and focus on key markets. Sun International joined the Nigerian market in 2009, but has struggled in recent years due to a challenging operating climate.
This divestiture is consistent with the company’s strategic objectives and represents a shift in portfolio management.
Sun International, will sell a 43.3 percent ownership investment in Tourist Company of Nigeria PLC (TCN), which manages Lagos’ Federal Palace Hotel, to RFC for $1.875 million.
In addition, the group would pay off its whole $12.675 million credit to RFC, effectively exiting the Nigerian market. The corporation also intends to sell its remaining 6% ownership in TCN in due course.
The transaction, subject to customary closing conditions including as regulatory approvals, is estimated to create a cash inflow of about $14.41 million for Sun International.
These funds will be utilized to reduce debt.
Following the completion of the acquisition, TCN will no longer be included in Sun International’s financial statements.
This will reduce group debt by about $41.82 million, excluding IFRS 16 lease liabilities.
The closing is scheduled for no later than May 28, 2024, provided that all usual closing conditions are met. The Nigerian Competition Authority, the Securities and Exchange Commission, and the Nigerian Stock Exchange have all provided key clearances.
Sun International, founded in 1968 by the late Sol Kerzner, has grown into a renowned gaming and resort company under Leeming’s leadership.
In fiscal 2023, the company’s revenue increased by 7% to $646.14 million, while headline earnings increased by 86 percent to $55.35 million.
This demonstrates Sun International’s resiliency and strategic direction. Sun International’s pullout from Nigeria demonstrates the company’s dedication to streamlining its portfolio and pursuing growth possibilities in key areas.
With a rich history and a focus on the future, this transaction demonstrates the company’s commitment to create wealth for shareholders and stakeholders while also strengthening its position in the gaming and hospitality industries.
Sam Darwish, a US-Nigerian telecom entrepreneur, has experienced a huge financial setback in his holding in IHS Holdings following a recent drop in the shares of the top telecom infrastructure company on the New York Stock Exchange (NYSE).
Sam Darwish
According to data, Sam Darwish’s investment in IHS Holdings has lost $6 million in market value during the last 13 days. This drop reflects increasing selling pressure among NYSE investors.
From March 12 to 30, Darwish’s investment in IHS Holdings increased from $35.17 million to $49.27 million, resulting in a $14 million gain.
Darwish founded IHS Holdings in 2001, and it has since grown to become the largest telecom infrastructure business in Africa, Europe, Latin America, and the Middle East.
It is renowned for its huge tower count and is the world’s third-largest independent international tower firm.
In the last 13 days, IHS Holdings shares on the NYSE have dropped by 11.72 percent, from $3.67 on April 3 to $3.24 at the time of writing.
As a result, the company’s market capitalization has dropped below $1.1 billion, causing significant losses for stockholders.
As chairman and CEO of IHS Holdings, Sam Darwish holds a critical position in African telecom.
With a strong 4.17 percent ownership holding, equivalent to 13,958,158 ordinary shares, he is a key participant in the global telecom infrastructure business.
The recent double-digit loss in IHS Holdings shares has resulted in a $6 million decrease in the market value of Darwish’s shareholding in the top telecom infrastructure company. His shareholding has decreased from $51.23 million on April 3 to $45.22 million.
Despite this defeat, Darwish remains an important figure in the worldwide telecom business.
IHS Holdings’ extensive tower network and smart acquisitions have secured its position as a major participant in the global telecom infrastructure sector.
NELFUND Says UTME, NIN, BVN Mandatory for Student Loans
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