Tony Elumelu Foundation (TEF) has opened the application portal for Africa’s largest entrepreneurship programme on January 1, 2021 to aid Africa’s economic recovery through new job creation following COVID-19.
The Chief Executive Officer, TEF, Ifeyinwa Ugochukwu, said the foundation has trained, mentored and funded over 9,000 African entrepreneurs in the last seven years.
She explained that Africa’s economic recovery from the global pandemic is imperative.
She said “We are also excited to say that PwC in conjunction with our Foundation has just completed an impact assessment report which would be released in the first quarter, to mark our 10-year anniversary. So, there is a lot happening in our Foundation.”
Ugochukwu noted that shortly after the 2020 application closed, COVID-19 lockdown hits the continent and the rest of the world.
“We knew that we could not continue with the programme at that time because most people were under strict lockdown and there were no movements in their country.
“Most of our entrepreneurs often times needed to go to schools, business centres or offices to have access to the internet to take the programme. So, we decided to postpone the programme to 2021.
“Now, we all know that Africa had to bear the brunt of the health impact of the COVID-19 pandemic. But for the economic impact, some people have said that Africa is the epicenter of the economic impact of the COVID-19 pandemic and the SMEs, which are the heartbeat and lifeblood of economies in Africa, is on the frontline.
“Most SMEs do not have the shock absorber that the bigger organisations have. And that is why it has never been more urgent than now, to deepen and expand the work that the TEF does in empowering African entrepreneurs. That is why for us, opening the application portal January 1, 2021, marked a new beginning.
“It marked the renaissance and the beginning of recovery; and the beginning of Africa really taking its place in the global stage,” she added.
Therefore, among those that applied in 2020, the Foundation would also select qualified 1,000 entrepreneurs to be funded.
“Now, for the 2021 applicants, the world understands that Africa is critical to the world’s economic recovery from the pandemic. And that is why we have partnered with the European Union to fund and train an additional 2,400 women on the TEF Entreprenuership Programme for 2021.
“This is in addition to many other partnerships that we have been running through the years with the likes of the United Nations Development Programme as well as the ICRC. For us, we have put up a call to action for all development organisations, for African government and foreign governments that, now is the time to scale and expand the work that we have been doing in empowering African entrepreneurs with capacity building and the much-needed seed capital funding.
“We do not want to lose the gains that we have made over the last 10 years whereby we have put entrepreneurship on the global agenda. Most governments know that it the SMEs that would create the jobs needed to catalyse growth across the continent and now is the time to SMEs that have been hit-hard by the pandemic,” she added.
Arla Food To Set Up Dairy Farm In Nigeria, Train 1,000 Dairy Farmers
Arla Foods, makers of Dano Milk, has announced that it will build a state-of-the-art commercial dairy farm in Northern Nigeria where it plans to train and support up to 1,000 local dairy farmers as part of its long-term commitment to developing the Nigerian dairy sector.
The 200-hectare farm, scheduled to open in 2022, will have housing for 400 dairy cows, modern milking parlours and technology, grasslands and living facilities for 25 employees.
The firm said the farm is expected to produce over 10 tonnes of milk per day to supply locally produced dairy products to Nigerian consumers.
Managing Director, Arla Foods, Peder Pedersen said “there was a great need for nutritious food and dairy products to satisfy the growing demand from Nigeria’s fast-growing population.”
“This requires a complementary approach where imported food is crucial to ensuring food security while also supporting the government’s long-term agricultural transformation plan to build a sustainable dairy sector in Nigeria,” Pedersen said.
In 2019 Arla scaled up its commitment to developing a sustainable dairy sector in Nigeria with a new public-private partnership with the Kaduna State government.
It is the first of its size and offers 1,000 nomadic dairy farmers permanent farmlands. Arla is the commercial partner that will purchase, collect, process and bring the local milk to market.
The Board of Chemical and Allied Products Plc (CAP Plc) Appoints Vitus Ezinwa as a Non-Executive Director
The Board of Chemical and Allied Products Plc (CAP Plc) has appointed Dr. Vitus Ezinwa as a Non-Executive Director of the company effective from Thursday June 17, 2021, subject to the approval of the Company’s shareholders at the next Annual General Meeting.
The company announced in a statement signed by Ayomipo Wey, Company Secretary/General Counsel, CAP Plc.
Dr. Ezinwa is a seasoned business manager and human resource professional with experience in leading multinational corporations.
He is currently the Chief Operating Officer (COO) of UAC of Nigeria Plc (“UACN”) and previously, the Group Director of HR at UACN.
Prior to Joining UACN, Dr. Ezinwa worked as Group Human Resources Director for Promasidor Africa; Human Resources Director, CocaCola Nigeria & Equatorial Africa with responsibility for 10 countries and Human Resources Director for British American Tobacco, West & Central Africa covering Ghana, Benin, Niger & Togo.
Dr. Ezinwa was, until recently, the Group Human Resource Director for Tropical General Investments (TGI) Group.
He is a member of the Advisory Board of Afterschool Graduate Development Centre, member of the Institute of Directors and a Fellow of the Chartered Institute of Personnel and Development (CIPD) UK.
He is a co-founder and Director of HR Network Africa and was until 2014, a member of the Lagos Business School’s Advisory Board. He holds a Bachelor’s degree in Sociology/Anthropology from the University of Nigeria, Nsukka, MBA in Management from Lagos Business School, a Master’s in applied business research and a Doctorate in Business Administration, both from Swiss Business School, Zurich, Switzerland.
In addition to holding an executive director role on the Board of UACN, Dr. Ezinwa is a non-executive director of Grand Cereals Limited.
DLM Capital Group Retains Position as Best Structured Finance & Securitization Team in West Africa
DLM Capital Group, a prominent Developmental investment bank, has once again emerged as the best-structured finance and securitization team in West Africa at the just concluded Capital Finance International (CFI) 2021 awards.
The leading developmental investment bank has won the award in the last three years to affirm its position as the leading investment institution and asset manager in the region.
CFI awards seek to identify the contributions of individuals and organizations that contribute significantly to the advancement of economies and truly add value for all stakeholders.
DLM Capital Group creates bespoke business solutions for alternative financing and harnessing funds for growth. The group focuses on four key sectors — consumer credit, agriculture, microfinance, and education with a mandate to reduce poverty and improve living conditions for Africans, while mobilizing resources for the continent’s economic and social development.
“In the past three years, our portfolio management team’s performance has remained consistent, and our clients have benefited immensely from exposure to our solutions, including the NMRC securitization deal and the DLM Primero BRT Securitization,” said Head of Corporate Communications and Marketing, DLM Capital Group, Chinwendu Ohakpougwu.
“We are positioned to provide services to an expansive client base of retail, high net-worth and institutional customers. DLM Capital Group remains committed to constantly providing financial solutions that will enable our clients make a difference, and we are honored to be recognized once again as a reflection of the quality of support offered to our clients’,’ she added.
DLM has won recognition in West African capital markets, acting as a sole arranger to over 80 percent of structured finance transactions in Nigeria — and all the securitization transactions. It provides deal structuring, advisory execution and capital raising services across the Nigerian capital market.
The Institution recently launched an asset financing scheme and is preparing a venture into digital banking under its subsidiary, Sofri.
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