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AFP Supports Access to Renewable Energy with €70m

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Solar energy - Investors King

AFP Supports Access to Renewable Energy with €70m

The Agence Francaise de Developpement (AFD) is supporting access to renewable energy for Nigerian manufacturers with €70 million under the Sustainable Use of Natural Resources and Energy Finance (SUNREF) Nigeria Programme for renewable energy.

The fund would be administered through the Access Bank Plc and the United Bank for Africa Plc.

However, only renewable energy projects like solar, wind, small hydro, biomas including waste-to-energy power plants would be eligible for funding under the SUNREF initiative.

The AFP described energy efficiency projects (EEP) as capital expenditure projects that would allow energy consumers to use less energy for achieving the same level of energy service.

The AFP made this known during the Renewable Energy and Energy Efficiency investors’ virtual conference that was held on Wednesday, in partnership with the Nigerian Energy Support Programme (NESP), which is a technical assistance programme co-funded by the European Union (EU) and the German Government and implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH in collaboration with the Federal Ministry of Power and All-On of the Shell Foundation.

The conference was aimed at enabling the Renewable Energy Association of Nigeria (REAN) to understand the SUNREF’s technical requirements, equipment and installation quality standards, self-regulatory initiatives and certification for industry practitioners.

The President of the Nigerian Manufacturers Association (MAN), Mr. Mansur Ahmed, who participated in the conference, described the financial and technical assistance offered by the SUNREF as significant opportunity that came at a time, “we needed it most more than ever” to address one of the most militating factors against industrial development of Nigeria.

Mansur said: “Clearly, this is the time for every effort to shore up the manufacturing sector is very welcomed. Therefore, I am delighted that this green energy project is focusing on renewable energy in improving energy efficiency.

“It is our hope that our members will take the full advantage of this facility and be able to diversify their energy sources, improve energy consumption and be able to expand their productive capacity, which is indeed very important in the current state of our economy. I, therefore, urge our members to take full advantage of this.”

The Country Director of the AFP, Ms. Virginie Diaz, said in her opening remark during the conference that the SUNREF would basically provide financial and technical assistance “aimed at supporting business strategies in the green energy sector in line with the Paris Agreement on Climate Change, which Nigeria has been supportive of.”

Also, the Head of Cooperation of the EU Delegation to Nigeria and the ECOWAS, Ms. Cecile Tassin-Pelzer, said the conference would enable investors and service providers to showcase their products and be able to develop relationships with clients and prospective investors in Nigeria.

She added: “I will like to highlight that this collaboration is an innovative financing and project that will help to address Nigeria’s energy gaps by mobilising foreign investments to finance green power projects.”

The SUNREF Nigeria Team Lead, Mr. Javier Betancourt, described SUNREF as integrated environmental finance that is dedicated to developing renewable energy in Nigeria.

Betancourt said in his presentation during the conference that the AFD has put in place targeted support to develop innovative green financing through dedicated credit lines through local financial institutions in the country.

He said: “The SUNREF is part of the broader initiative to promote energy efficiency and renewable energy as well as the sustainable use of natural resources.”

According to the Chief Executive Officer of All On, Dr. Wiebe Boer, the mission of the SUNREF is to bring the members of the MAN into the green energy fold.

Boer observed that any opportunity to address the significant gap that exists in access to energy in Nigeria would have considerable economic and social impacts.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Technology

Revenues Generated From The Auction of The 5G Spectrum Hits Over $500 Million – NCC

The executive chairman of the Nigerian Communications Commission  (NCC) Prof. Umar Dambatta has said the total revenues generated from the auction of the 5G spectrum has now hit over $500 million.

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Telecommunications - Investors King

The executive chairman of the Nigerian Communications Commission  (NCC) Prof. Umar Dambatta has said the total revenues generated from the auction of the 5G spectrum has now hit over $500 million.

The NCC boss disclosed this in Abuja during an investigative hearing session held in front of the House of Representatives Ad-hoc Committee.

According to him, the revenues generated from the 5G auction, which MTN Nigeria and Mafab Communications Limited won, have already been remitted to the government.

He also unveiled plans for the deployment of technology to verify annual operating levies (AOL), tax, and other payments by network service providers to the Federal Government.

In his words, “We are currently going to deploy a technology solution. We call it Revenue Assurance Solution (RAS).

“We have finished signing the MOU with the Consultant that is going to do this deployment so that we can independently verify that the amount of annual operating levy (AOL) they are paying and other taxes are indeed what they are supposed to pay and, therefore, not shortchange the NCC or government when it comes to payment of taxes.

“We, through what we call annual operating levy, run our operations, pay our staff salaries and allowances and even provide resources for intervention in the diverse areas of information and communication technology in the various parts of the country.

“These interventions are verifiable. There is no state of the federation that we don’t provide interventions in the diverse areas of ICT. We also provide training. We would like to ensure our citizens are ICT savvy by embracing this important technology because that is what the whole is doing.

“That is what we can do to ensure our citizens are socially and economically transformed to change the way they are doing things, the way they collaborate and innovate.

“We have records available to show that we have been contributing a lot to the coffers of the government and a very good example is when we did that successful 5G auction. The proceeds from the auction go to the coffers of the government.

“We don’t normally take anything. It is gazetted that whatever we sell spectrum, we do not keep the money; we normally transfer this money to the consolidated revenue fund of the government.”

It should be recalled that on September 20, 2022, Investors King reported that the Nigerian Communications Commission (NCC) projected N500 Billion in revenue from the 5G spectrums license for the 2023 financial year.

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Startups

African Startups Raised $3.5 Billion in Six Months

Investors continue to dump billions on African startups in the first half of 2022 as $3.5 billion was invested across a series of startups on the continent despite rising global uncertainties.

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Start-up - Investors King

Investors continue to dump billions on African startups in the first half of 2022 as $3.5 billion was invested across a series of startups on the continent despite rising global uncertainties.

According to the report published by African Venture Capital Activities (AVCA), this represents an increase of $2 billion when compared with what was invested in the same period of 2021.

A critical analysis of the report showed Financial Technology (Fintech) companies raised more funds than any other niche.

Nigeria had the highest number of closed deals during the period under review. Nigerian startups closed a total of 101 deals within the first six months of 2022. However, in monetary terms, startups in Egypt raised the highest amount of $352 million in 63 funding deals.

Kenya startups raked in $330 million from 54 funding deals while Nigerian startups raised $284 million in 101 funding deals.

Other countries with significant amounts of funds raised include Seychelles with $164 million, Ghana with $133 million in 21 deals, South Africa with $131 million in 50 deals, and Morocco with $108 million in 11 deals. 

A closer look at the result shows that the financial sector takes the lion’s share in the ecosystem. The fintech sector recorded 32 percent of the entire deals and 44 per cent of the total monetary value. This was followed by the Consumer Services and the Industrial Sectors which emerged second and third respectively. 

A further breakdown shows that startups in the financial sector raised $1.54 billion while information technology raised $448 million. 

Other sectors with significant funding include Industrial Services with $430 billion, Energy and Utility raised $360 million, Consumer Services raised $340 million, Communication Services with $173 million, Health Care Services raised $97 million, Materials with $97 million while Real Estate raised $6 million. 

Investors King understands that the African startup ecosystem has been on an astronomical rise since last year. 

It will be recalled that in 2021, African startups raised over $4 billion across 355 funding deals. This is almost three times what was raised in 2020 and 2019. The ecosystem raised $1.7 billion and $1.3 billion in 2020 and 2019 respectively.

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Technology

How Much is iPhone 14: Price of iPhone 14 in Konga, Slot, Others in Nigerian Naira

Here is the current price of iPhone 14 pro and iPhone 14 Pro Max on Slot, Konga, Pointek and Computer village in Ikeja

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Apple iPhone 14

Following the rush that trailed the latest edition of Apple’s product iPhone 14 and other issues, Investors King has compiled the current price of iPhone 14 across key known e-commerce platforms.

Therefore, Nigerians looking to lay their hands on the new Apple gadget can check Investors King to compare prices in the Nigerian Naira.

The new iPhone 14 was released in two different versions, the iPhone 14 Pro and iPhone 14 Pro Max. However, market research by investors king has revealed it is possible to ascertain the price range of the latest Apple iPhone 14 from various popular gadget stores in Nigeria.

Below are the prices of the latest Apple iPhone 14 Pro and the iPhone 14 Pro Max from Konga, Pointek, SlotNg, and the Ikeja Computer Village.

On Konga, one of Nigeria’s leading e-commerce companies, iPhone 14 Pro with 6GB Ram, 512 ROM and dual nano Sim is presently retailing at N1.45 million. While iPhone 14 Pro Max with 512GB ROM, 6GB RAM and dual nano sim is N1.75 million. See the details below.

Price of iPhone 14 Pro and iPhone 14 Pro Max on Konga 

iPhone 14 GB ROM (Dual Sim) Price
iPhone 14 Pro 6GB RAM 512GB ROM N1,450,000
iPhone Pro Max 6GB RAM 512GB ROM N1,750,00

Apple iPhone 14 Pro – 6GB RAM – 512GB ROM – Dual Nano Sim

Price of iPhone 14 Pro on Konga N1,450,000

Apple iPhone 14 Pro Max 512GB ROM – 6GB RAM – Dual Nano Sim

iPhone Pro Max on Konga N1,750,000

Price of iPhone 14 Pro and iPhone 14 Pro Max in SlotNG 

iPhone 14 ROM GB (RAM) Price
iPhone 14 Pro 256GB 6 RAM N1,136,400
iPhone 14  128GB 6 RAM N1,090,000
iPhone 14 pro-Max 256GB 6 RAM N1,389,800

iPhone 14 Pro 256GB Dual Sim

Price of iPhone 14 Pro in Slot is N1,136,400

iPhone 14 Pro 128GB Dual Sim

Price of iPhone Pro 128GB in Slot is N1,090,000

iPhone 14 pro-Max 256GB Dual Sim

Price of iPhone Pro Max in Slot is N1,389,800

Price of iPhone 14 Pro and iPhone 14 Pro Max in Ikeja Computer Village

S/N iPhone 14 Price
1 iPhone 14 128GB  N890,000
2 iPhone 14 Pro 128GB N1,230,000
3 iPhone 14 Pro 256GB N1,400,000
4 iPhone 14 Pro 512GB N1,500,000
5 iPhone 14 Pro max 128GB N1,400,000
6 iPhone 14 Pro max 256GB N1,550,000
7 iPhone 14 Pro max 512GB N1,680,000
8 iPhone 14 Pro max 1TB N1,890,000

Price of iPhone 14 Pro and iPhone 14 Pro Max on Pointek

S/N iPhone 14 Price
1 Apple iPhone 14 Pro 128GB N1,000,000.00
2 Apple iPhone 14 Pro 256GB N1,030,000.00
3 Apple iPhone 14 Pro Max 128GB N1,295,000.00
4 Apple iPhone 14 Pro Max 256GB N1,340,000.00
5 Apple iPhone 14 Pro Max 512GB N1,650,000.00

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