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Fundanenterprise.org Unveils Portal on Thursday

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Fundanenterprise.org, Nigeria’s new donation based website built specifically to raise funds and grants to support start-up, micro, small and medium sized enterprises will officially be opened to the general public on Thursday, 22 November, 2018.

 

The official launch of www.fundanenterprise.org is billed to hold at Best Western Hotel, Victoria Island, Lagos.

 

In a statement released on Monday by Magnus Nmonwu, Trustee, MSME Crowd Funding Foundation, said that Fundanenterprise.org is a donation based crowdfunding website ( the first of its kind in Nigeria) built specifically for fundraising activities, solely in form of grants to support start-up, micro, small and medium sized enterprises in Nigeria and beyond.

 

He noted that the website is owned and operated by the Micro, Small and Medium Enterprises (MSME) Crowd Funding Foundation, a new not-for-profit organisation in Nigeria.

 

According to him, “Given the imbalance in the Nigerian economy, and its recent rating as the poorest country in world, it is high time individuals and groups joined hands together to make our economy work again.

 

“It’s high time we began to support one another in every littlest way in order to expunge the poverty index and make our economy great again.

 

“The MSME Crowd Funding Foundation, through www.fundanenterprise.org, is here, not only to provide the much needed relief to start-ups, small and growing businesses, but to change the way Nigerians in particular and the world in general supports business operations.”

 

He stressed that Crowdfunding will raise funds from a large number and spread to people all over the world, majorly through a website, noting that this is a globally accepted financing method, which is a much easier alternative to the traditional fund raising through the Capital Markets and other Financial Institutions.

 

Nmonwu stated that Crowdfunding has been used globally and successfully to fund a wide range of entrepreneurial ventures and community-oriented projects, as well as test the community’s reception of a particular project or business idea to find out if it will be successful before embarking on such business.

 

He said “MSME Crowd Funding Foundation, Nigeria, believes that by bringing this practice of crowdfunding for enterprises closer home, Nigerians can benefit from the much needed ease of funding financial support for their personal and group enterprises.

 

“The mandate of MSME Crowd Funding Foundation is therefore solely to help build thriving enterprises, as many as can possibly be; to guarantee a meaningful life and livelihood for Africans, and Nigerians in particular.”

 

He further revealed that they will carry out their mandate through three (3) key functions that will include Skills Training of community members with the necessary financial and soft skills training to start, manage and grow their businesses.

 

Also crowdfunding website is designed to link enterprises that need funding with good people who love engaging in philanthropic activities and changing lives.

 

Another mandate is Handholding/ Monitoring of Enterprises which will ensure compulsory one-year handholding support put in place to assist enterprises who are beneficiaries of grants or backers’ grants from www.fundanenterprise.org.

 

“Existing businesses are also offered the same business process improvement to ensure that they henceforth grow more, generate their own funding needs and also assist other start-up and struggling enterprises with donations.

 

“It is all intended to be a communal enterprise building circle, to empower our people and build our economy.

 

“The MSME Crowd Funding Foundation, through www.fundanenterprise.org, is here to help our country and our world, he added”

 

It is the belief of the MSME Crowd Funding Foundation that unless many more people undertake meaningful and viable enterprises; unless the elite and more successful people in our society make it a point of duty to support budding and struggling enterprises, our economy will continue to be underdeveloped.

 

The Foundation is therefore calling on everyone out there who wishes to make an impact in the society (no matter how small) to support us in this cause to make our economy buoyant again.

 

Donate to an enterprise today on www.fundanenterprise.org.

 

 

 

 


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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

Telecom

Airtel Laments 300 Percent Increase in OPEX. Backs Tariff Review

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Airtel Nigeria has said the telecom operators could not go on without tariff adjustment as the cost of operation has gone up by 300 percent.

Airtel Laments 300 Percent Increase in OPEX. Backs Tariff Review

According to Dinesh Balsingh, chief executive officer of the company, the call for the upward review of tariffs in the telecom sector has to be honoured of the operator must do their business in the country without many problems.

Balsingh, who stated this in an op-ed, said the adjustments are critical for maintaining high-quality services and enabling further advancements in Nigeria’s digital transformation journey.

“For over a decade, tariffs have remained static despite the dramatic increase in operating expenses, which have surged by over 300% in the last 18 to 24 months alone.

“To continue providing high-quality services and meeting the growing demand for digital connectivity, it has become essential to realign our pricing structure with economic realities,” Balsingh said.

The Airtel CEO also underscored the significant investments required to maintain and expand telecom infrastructure, which is pivotal to supporting Nigeria’s digital economy.

“The increasing demand for digital services across sectors such as education, banking, and healthcare requires us to continually upgrade our networks to deliver more capacity and improve service quality.

“These investments come at a cost, one that must be shared proportionally to guarantee long-term viability,” he said.

 

 


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Telecom Consumers to Gain from Tariff Update as Airtel Nigeria Prioritizes Enhanced Services

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As conversations intensify around tariff adjustments in Nigeria’s telecommunications sector, Airtel Nigeria CEO Dinesh Balsingh has reaffirmed the telecom giant’s commitment to delivering superior connectivity and fostering digital inclusion.

In response to the economic realities of rising operational and capital costs, Balsingh noted that the proposed tariff adjustments aim to ensure the long-term sustainability of the sector while unlocking significant benefits for Nigerian consumers.

In an op-ed authored by Balsingh in which he contextualized the necessity of the tariff adjustments, he explained that “For over a decade, tariffs have remained static despite the dramatic increase in operating expenses, which have surged by over 300% in the last 18 to 24 months alone.

“To continue providing high-quality services and meeting the growing demand for digital connectivity, it has become essential to realign our pricing structure with economic realities.”

Balsingh further highlighted the substantial investments required to maintain and expand telecommunications infrastructure. “The increasing demand for digital services across sectors such as education, banking, and healthcare requires us to continually upgrade our networks to deliver more capacity and improve service quality. These investments come at a cost, one that must be shared proportionally to guarantee long-term viability,” he observed.

The proposed tariff adjustments will not only ensure the sector’s sustainability but also bring significant improvements to service delivery, adding: “By enabling us to expand coverage, strengthen network security, and introduce cutting-edge technologies, the adjustments will directly enhance the quality of connectivity for Nigerians.

“Our priority is to ensure that no one is left behind in the country’s digital transformation journey.”

Balsingh emphasized that these adjustments will be implemented with affordability in mind, ensuring minimal impact on consumers. The company remains steadfast in its commitment to supporting Nigeria’s vision of becoming a digital economy leader in Africa, empowering businesses, driving innovation, and fostering inclusive growth.

“Our commitment to quality service remains unwavering,” said Balsingh. “While significant tariff adjustments have become necessary, we understand the importance of gradual implementation to support our customers’ financial positions.

“This step will enable us to invest in capacity, expand coverage, and enhance service delivery, ensuring Nigeria remains competitive in the global digital landscape.”

 


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MTNers Stand Hand in Hand to Combat Gender-Based Violence

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In a powerful display of solidarity, MTN Nigeria staff (fondly called MTNers) joined hands—literally and figuratively—to say #NoExcuse to gender-based violence (GBV). As part of the company’s efforts during this year’s 16 Days of Activism Against Gender-Based Violence, which happened between November 25 to December 10, 2024, MTNers gathered at the MTN’s rooftop event center in Lagos to form a united front against this pervasive societal issue.

The striking image of MTNers standing hand in hand sent a strong message: the fight against GBV requires collective action, compassion, and unwavering commitment. The gesture was both symbolic and actionable, echoing the core values of respect, equality, and inclusion that MTN champions as part of its corporate ethos.

This demonstration occurred after a recent exclusive screening of Deafening Silence, a powerful film highlighting the harsh realities of GBV, hosted on December 10, 2024. The event and the united gesture reflect the company’s drive to amplify awareness and inspire action among its workforce and beyond.

“Gender-based violence is not just a women’s issue; it’s a human rights issue that requires all of us to act,” said Temilade Olabanji, Senior Manager, Sustainability and Shared Value at MTN Nigeria.

MTN’s participation in the global 16 Days of Activism campaign reflects its belief that businesses must take responsibility in shaping a better society. Through the #NoExcuse initiative, the company encourages open dialogue, education, and proactive measures to challenge the attitudes and systems that enable gender-based violence.

While the Deafening Silence screening sparked conversation and reflection, the unity gesture from MTNers served as a visual commitment to turn awareness into action.

The company is calling on Nigerians everywhere to join the movement by speaking out, standing with survivors, and working to eliminate the root causes of GBV.


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