Blog - Afrikan Heroes

Samaila Zubairu Joins Ghana’s Aker Energy as Member, Board of Directors

October 8, 2019

The President and CEO of Africa Finance Corporation (AFC), Mr. Samaila Zubairu has joined the Board of Aker Energy AS, as Vice Chairman of Aker Energy Board of Directors. Mr. Zubairu’s membership of the Board of Aker Energy is seen as a step in the right direction as he will bring his wealth of experience in infrastructure financing and management to bear on Aker Energy’s projects. The Africaa Finance Corporation (AFC) is the leading infrastructure solutions provider in Africa with 25 African member countries and has invested US$6 billion across 29 African countries. Ghana, where Aker Energy’s Pecan field is located, is in addition to being a member state also an equity shareholder of AFC.

Samaila Zuberu — Mr. Zubairu has previously served as CEO of AfriCapital Management Limited and as CFO of Dangote Cement Plc. Mr. Zubairu

Speaking on the development, the Chairman of the Board of Directors of Aker Energy Sverre Skogen said that AFC is an important partner to Aker Energy and that Aker Energy is honoured to welcome Mr. Samaila Zubairu to the Board, as he brings extensive experience with innovative infrastructure development and financing across the African continent, as well as geopolitical and industrial insight.

Aker Energy is part of the Norwegian Aker group of companies and is, through its subsidiary Aker Energy Ghana Ltd., the operator of the Deepwater Tano / Cape Three Points (DWT/CTP) block offshore Ghana. Aker Energy has its sole focus in Ghana and has submitted a Plan of Development and Operations (PDO) for the block. Speaking, Mr. Zubairu said that AFC’s investment in Aker Energy is an exciting milestone – “we have partnered with the subsidiary of one of the most highly respected international oil, gas and industrials companies to support its first project in the African market as an operator. This is an opportunity for AFC to invest alongside a technically and financially strong sponsor that requires project development expertise and public sector advice in Africa, both of which AFC is ideally placed to offer. It is therefore a great honour to now also being joining the Board of Aker Energy as Vice Chairman”.

In July 2019, AFC became an investor in Aker Energy following the issue of subordinated convertible bonds of USD 100 million with a mandatory conversion to equity in the event of an Initial Public Offering (“IPO”) of Aker Energy. AFC intends to take part in other capital market activities initiated by Aker Energy in the future.

Mr. Zubairu has previously served as CEO of AfriCapital Management Limited and as CFO of Dangote Cement Plc. Mr. Zubairu is an Eisenhower Fellow and sits on the Eisenhower Fellowship’s Global Network Council,. He holds several non-executive board positions including the Advisory board member for KSE Africa a leading operations and management provider of captive power plants in the mining sectors in Botswana and Nigeria. Mr. Zubairu, is a Fellow of the Institute of Chartered Accountants, Nigeria (FCA) and holds a BSc in Accounting from Ahmadu Bello University, Nigeria. He is an Ex-Boy of the Nigerian Military School, Zaria.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

The International Finance Corporation Injects $10 million to Finance SMEs in Nigeria and Ghana

The International Finance Corporation (IFC) is investing $10 million into Nigeria and Ghana to expand access to finance for high-growth, underserved small and medium enterprises (SMEs) in both countries.

“This funding represents a significant step towards catalysing growth in small and medium enterprises in Nigeria and Ghana. We look forward to working with the IFC as a partner in this fund as we strive to continuously bring the best practices in operating standards to our investments and investee companies, ” noted Yomi Jemibewon, Co-Founder and Managing Director of CardinalStone Capital Advisers.

Here Is All You Need To Know

The fund will be managed by CardinalStone Capital Advisers (CCA) — an investment management firm under its CardinalStone Capital Advisers Growth Fund (CCAGF), a private equity fund.
CardinalStone Capital Advisers which is seeking $100 million in total for the CCAGF fund, has already secured $50 million in capital commitments from the CDC Group, the UK’s development institution; Kuramo, a leading African investment firm; FMO, the Dutch Development Bank; and NSIA, the Nigerian sovereign wealth fund; among other investors.

“IFC’s investment in CardinalStone will spur growth of SMEs and facilitate much-needed job creation while creating the ecosystem for a more robust local private equity and mezzanine financing market,” said William Sonneborn, IFC Senior Director for Disruptive Technology and Funds. “By supporting SMEs in fast-growing markets, we hope to bring best practices that raise the bar for operational improvements and environmental and governance standards across the investee companies.”

Global SMEs credit bank — Source: T he World Bank Group

Why CardinalStone Capital Advisers Growth Fund Is Out For Under-served SMEs

The fund is possibly looking to finance SMEs and Nigeria and Ghana because a 2017 ResearchGate publication has noted that SMEs in Africa make up about 50% of the continent’s GDP and account for 60% of employment figures and about 90% of all businesses.

In Nigeria alone, SMEs account for 96% of businesses in and 85% of the private sector in Ghana. With all these in mind, CardinalStone says the fund will support SME growth opportunities by providing long-term capital as well as operational expertise to ensure business sustainability.

The investment is part of the IFC SME Ventures program that supports high-growth entrepreneurs in frontier markets by investing in funds that provide risk capital. The programme, according to International Finance Corporation , has financed over 100 SMEs, which have created over 6,000 direct jobs, many more indirect jobs, and generate tax revenues for governments.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Dangote Unveils Waste-to-Wealth Recycling Project

In continuation of its community social responsibility, and philanthropy, the Dangote Group has unveiled a “Waste to Wealth Initiative” which is focused on managing waste disposal while generating income and giving back to communities wherein we operate.

Group Chief Sustainability and Governance, Dangote Industries Limited, Dr. Ndidi Nnoli,

The project which forms part of events marking the 2019 Global Sustainability Week was celebrated by employees of the Dangote Group with the theme: “Our Community, Our Passion” with various activities held in Lagos and across the Group’s business units and plants.

These activities focused on investment programmes directed towards turning waste to wealth, and reviving reading culture in young children in host communities.

In Lagos, over 200 Sustainability Champions and employee volunteers across the business units, assisted five international facilitators to train the children on turning the most insignificant materials and waste in the environment into tangible assets of economic value to the nation.

Dangote employees also took the initiative to St. George Primary School and Aunty Ayo International School in Ikoyi, where the facilitators, with additional help from the volunteers, trained the children on how to manage their wastes and create sustainable products that are marketable from their everyday generated wastes.

Speaking on the initiative, the Group Chief Sustainability and Governance, Dangote Industries Limited, Dr. Ndidi Nnoli, said the company’s sustainability approach is driven by a desire to contribute and impact positively towards the development of host communities and the society at large.

According to her, the 2019 Sustainability Week is directed towards safeguarding the environment by educating the host communities on how to turn waste to wealth to achieve sustainable development.

Continuing, she said that “we chose St. Georges School because the school is a neighbour to Dangote Head Office building in Ikoyi. Charity begins at home. We started to engender the sustainability culture as an employee volunteering initiative. We honestly believe that people are at the centre of any organisation and sustainability needs to begin with the individual person. It is a culture in Dangote to celebrate the sustainability week every year and this year we decided to bring it to a neighbouring school”.

“It is so important that we bring the initiative to the schools around us because we need to be very concerned about our children, their future, and most especially, education outside the classroom. We need to be concerned about educating our children on sustainability beyond the definition”, she added.

Nnoli disclosed that the company brought international artists to educate the employees that the type of waste that can easily be thrown into the trash can, could be transformed into usable items. “We have people making bangles and pencil cases out of waste plastics. We also have literacy session, mentoring and above all, we are learning about why it is necessary to hunger for knowledge”.

She noted that the Dangote Group has a responsibility to the environment and the society. “We are looking for ways to ensure that value is added to things around us. We have many volunteers who are so eager to learn and impact knowledge to the children. The children are also very excited to learn on new ways to transform the environment.

“For us at Dangote, it is social responsibility and also corporate services, but in this case, the employees have volunteered to carry out this initiative. But the organisation has given us the license to do whatever we want to do. So, as Dangote employees, we have chosen to stand for sustainability, we stand for social development and we stand for the education of a child”, she said.

Giving insight into the programme, the Group Chief Human Resources Officer, Dangote Cement Plc, Dr. Musa Rabiu, said the company’s intention was to create an environment “where we keep improving on how we operate and interact with the environment and regarding people as the most valuable assets”.

He said the company organised the programme to touch the hearts and minds of children who are the next generation by teaching them how to re-use trash.

Rabiu said the initiative was all about reigniting children’s creative ability through innovation by leveraging on technology. “We need to let them know that managing the environment in terms of creativity and innovation is key. With this knowledge, the children are expected to grow up and be conscious of how they can re-use materials in the environment”, he added.

General Manager, Sustainability, Dangote Cement Plc, Eunice Samson, said the company’s intention was to ensure that Dangote employees key into the Group’s vision and volunteer to reach out to the local communities through value addition.

She said the theme for this year’s Sustainability Week “Our Community, Our Passion, the Dangote Way” was a way to make the host community to begin to see the social side of Dangote. “So, for Dangote, it is not always all about business; we also care about the wellbeing of our host communities. With this programme today, we have been able to reach out to over 600 pupils from St. George Primary School and Aunty Ayo International School, Ikoyi, Lagos.

“What we are trying to do is to ensure that we clear the environment of waste by turning it into wealth. We have over 200 Dangote employees who have volunteered to assist the facilitators to teach the children how to turn waste to wealth. The children have been taught how to turn waste plastic bottles into pencil cases, bangles, piggy banks, as well as using used Dangote Cement bags to create gardens” she added.

Speaking also at the event, the Managing Director of African Creative Hub, Jumoke Olowookere, said her responsibility was to teach the participants on how to create a sustainable world without wastes through upcycling wastes towards achieving the United Nations Sustainable Development Goals.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Cape Town startup SweepSouth Raises $3.3 mn In New Funding Round

Three months after raising $2 million from Africa’s largest company Naspers, South African ‘Uber of Cleaning Services’ SweepSouth has raised more than R50-million ($3.3mn) in its latest funding round.

“We see ourselves as an emerging market-focused platform that aims to serve the many professionals who don’t have the time to source the services we provide, whilst also creating meaningful employment opportunities, ” Aisha Pandor, SweepSouth’s co-founder was quoted as saying.

Here Is The Deal

This investment round was led by Michael & Susan Dell Foundation which invested $1-million (R14.5-million) in the company.
The startup has also disclosed in a statement that existing investors Naspers Foundry, Smollan, Vumela, CRE VC (previously Africa Angels Network) and musician and venture capitalist Black Coffee had also participated in the round.
SweepSouth also said early investors Newtown Partners had exited the startup in the round with more than 10x return on their investments.
The round is likely one of the highest raised in South Africa by a startup outside the fintech sector. It follows an announcement by Naspers in June that its venture capital (VC) fund Naspers Foundry had invested R30-million in the company (see this story).

Aisha Pandor, SweepSouth’s co-founder said the latest round of investment will be instrumental in achieving the startup’s strategic goals going forward.

“In addition to expanding the markets we operate in, in South Africa and elsewhere on the continent, we are also looking forward to a formal announcement regarding our new platform, SweepSouth Connect, which offers services like handymen, plumbers, electricians, locksmiths, carpet cleaners and nannies, as well as the growth of our online SweepSouth Shop which sells a range of home products,” said Pandor.

A Look At SweepSouth

Founded in 2014 by Aisha Pandor and Alen Ribic, SweepSouth reportedly reached $7 million (R100 million) in revenues in 2018.

“We went from the two of us working around our dining-room table — both of us sitting all day and working on this business plan — to going from a few domestic workers we were interviewing ourselves,” Pandor said, and “even went from cleaning houses ourselves to having 11,000 domestic workers on the platform”.

SweepSouth Says It Has Grown By 26% Since Its Last Funding Three Months Ago

In its statement, SweepSouth noted it has recorded “exceptional growth” since its launch in 2014 with its customer base, booking and revenue having trippled since its last funding round.

It pointed out that it has expanded operations to seven South African cities including Cape Town, Johannesburg, Pretoria and Durban.

SweepSouth said it has in partnership with Cape Town based insurtech Simply also been able to provide accidental death and disability cover at no cost to domestic cleaners who find work through its platform.

The startup also said it has grown revenue by 26% since the announcement in June of the investment by Naspers Foundry.

This growth, the company said, has enabled it to create about 15 000 employment opportunities for previously unemployed and underemployed domestic workers.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Kenyans With $1000 In Their Bank Accounts Fall To A 13-year Low

The number of Kenyans with more than Sh100,000 ($1000) as savings in their bank accounts has dropped for the first time in more than 13 years, reflecting the cash flow problems in an economy plagued by job cuts and modest economic activity.

Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data.

The drop comes in a period when corporate Kenya has witnessed reduced profitability that has ushered in job cuts, freezes in hiring and near stagnant wages in the race to protect profit margins.

Bankers say this has in turn shrunk savings as well as cash flow for both individual and small firms.

Although CBK data shows that the number of bank accounts increased by 13.4 percent to 53.83 million last year, a large number of them have savings of less than Sh100,000.

Denied loans

Since 2016, bankers have denied loans to individuals and small firms because they consider them risky after the government introduced the interest rate caps regime.

“Individuals’ cash flow has come down. We may be seeing GDP growth, but in reality, the flow of money in the economy has reduced,” said a banker who sought anonymity because he is not authorised to speak to the media.

“The middle class tend to bear the brunt in an environment where companies are shedding jobs and pay increases frozen. This environment lowers workers’ ability to save.”

Between 2008 and 2018, the number of bank customers with more than Sh100,000 as savings in their accounts more than doubled from 620,000 persons in 2008.

Banks increased the number of savers with more than Sh100,000 at between 120,000 depositors and 200,000 annually in the five years to 2017, on the back of increased economic activity.

However, the number of top savers dropped by 130,000 persons last year, shrinking their share of bank accounts to 2.6 percent from 3.4 percent in 2017.

The CBK data also offers a sneak peek at Kenya’s growing income inequality problem where wealth remains concentrated in the hands of a small segment of the population.

The data shows that that 97 percent of bank accounts have less than Sh100,000, which is in line with earlier comments from the banking regulator, which indicated that less than one percent of savings accounts had more than Sh1 million.

Modest economic activity in the past two years has entrenched the income inequality with fewer jobs and stagnant pay hurting the middle class most, which is captured in their downgrade among top savers.

While Kenya’s economy expanded 5.8 percent last year from 4.8 percent in 2017, private sector activity — which translates to jobs and higher pay — has remained muted.

“If you look at employment index (in the PMI) since the beginning of 2017, it’s been quite neutral, meaning it’s not like there has been improvement in new jobs,” said Jibran Qureishi, regional economist for East Africa at Stanbic Bank — which tracks company performance monthly through Purchasing Managers’ Index (PMI).

Official data

Official data show that 78,400 new formal jobs were created in the economy in 2018 compared to 114,400 in 2017, according to the Economic Survey2019 data.

This is the slowest pace of formal job growth since 2012 when the economy churned out 75,000, adding to the crisis of youth unemployment. The data does not capture job cuts and net employment.

Companies are struggling with reduced sales and profits in a soft economy that has persisted since 2017 when Kenya went through a bruising General Election.

Key firms have put on hold hiring of new staff in an economy that has also witnessed a string of job losses in recent months affecting nearly all sectors.

This is reflected by a record number of firms listed on the Nairobi Securities Exchange (NSE) issuing profit warnings.

More than 15 of the 62 companies listed on the NSE reported net income drops by at least 25 per cent last year compared with 2017.

Firms complain that the government takes years to settle bills for goods and services supplied to it, mainly due to below-target revenue collection and pressing expenditures like public debt payments that take half of the tax collections.

This has hurt businesses that trade with the government, forcing a number of them to be auctioned on failure to clear bank debts.

OTIATO GUGUYU writes for Business Daily Africa

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Prime Minister Abiy of Ethiopia Promises to Unite Oromo parties for Next Year’s Elections

October 7, 2019

The Ethiopian Prime Minister has promised to work assiduously towards uniting all the political parties and groups in the country’s Oromo region in preparation for next year’s elections. The Prime Minister said that it is time for political groups in the region to come together for the good of the region and the country at large. Abiy who incidentally is the first Prime Minister from the Oromo Region in recent times noted that the political parties in his home region should work together to serve the Oromo people.

A representative of the Oromo Democratic Party (ODP), the Prime Minister said that the time when political parties work against each other should come to an end, thus the need to embrace unity and progress. Abiy ascension to power has to a large extent helped to calm frayed nerves in the region because Oromia, which is the largest and most populous regional state in Ethiopia was for some years the scene of demonstrations, riots and incidents that led to deaths of both security officials and civilians, as well as massive displacements.

As part of his efforts to deliver a credible election in 2020, his party has been engaging in political horse trading and building of alliances with other parties that led anti-government protests three years ago. The most recent agreements for collaboration were signed by the Prime Minister on behalf of his Oromo Democratic Party, the Oromo Federalist Congress led by Prof Merea Gudina, and Oromo Liberation Front led by Dauwd Ibsa. All leaders pledged to work towards complementing each other’s efforts.

The 2020 elections will be the first vote after Abiy began his sweeping reforms aimed at opening the country’s political and democratic space. Abiy has pledged to ensure that the vote is free, fair and credible and has stated publicly that he will handover power if the ruling Ethiopia Peoples Revolutionary Democratic Front, EPRDF, lost.

He has held talks with registered opposition groups and nominated a new elections chief to undertake reforms of the electoral body in the lead up to the polls. Birtukan Mideksa, a former judge and political dissident has been praised as being a right fit for the job.

The ruling bloc in Ethiopia’s Oromia region, the Oromo Democratic Party (ODP) has continued building political alliances with competing parties ahead of elections slated for 2020. According to the Party’s Spokesperson Taye Dendea, the party was preparing to enter talks with over ten parties that shared a similar political agenda and plan of action.

Dendea added that further talks were being held with the Oromo Liberation Front, an ex-rebel group that returned from Eritrea after a peace deal was signed between the two countries in July this year. ODP led by Prime Minister Abiy Ahmed recently agreed a deal with the Oromo Democratic Front, ODF, led by Lencho Leta. The merger was announced in late November after a meeting between Leta and Oromia region president Lemma Megerssa.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

SME’s Are Key to Africa’s Economic Prosperity

If the African continent is to overcome poverty and make reasonable development strides, policy makers across the 55 countries or at least the major regional economic power houses should come up with policies that seek to engender and promote small and medium scale enterprises(SME’s). This was the observation of experts who deliberated on Africa’s development at the ongoing Nigeria Economic Summit taking place in Abuja, Nigeria.

The analysts who spoke with this Correspondent pointed out that with SMEs being responsible for an estimated 77% of jobs in Africa and as much as half of GDP in some countries, it should be the engine of economic growth for the continent, thus the need for governments to adopt a more proactive growth strategy to engender the sector and protect those operating within that sector.

They noted that SMEs are engines of global economic and employment growth as the World Bank estimates that SMEs are responsible for 77% of all jobs in Africa and as much as half of the GDP in some countries. It follows then that SMEs will help fill the gaps in the growing global workforce and generate much-needed employment, particularly in emerging economies. And this development is being helped by the growth of the information communication technology across the continent. Internet penetration is playing a very decisive role in causing disruptions in traditional businesses opening up competition for the SME’s.

This is because global trade is increasingly being driven by smaller, more agile businesses. An entrepreneur with a great idea, for example, can market on social media and implement digital or e-commerce solutions to deliver their products and services to customers anywhere in Africa or the world. And digital disruption is at the heart of this renewed energy sweeping through the African SME landscape — driving product and customer service innovation, and a sense of self-belief that no challenge, whether geographic or infrastructural, is insurmountable.

Importantly, Africa has the right ingredients for global success. Its population of about 1.2-billion people is projected to double over the next 30 years, making it an exception in a world of declining population growth. Additionally, Africa will soon be the region in the world urbanising the fastest. The continent has also proven to be an innovator and early adopter of all things digital and mobile. Countries across Africa have shown a great appetite for digital and mobile solutions that leapfrog traditional challenges and barriers to entry such as cost and infrastructure.

Experts are of the view that young people are largely the driving force behind this new position of Africa on the global stage. They are predicted to make up 50% of the continent’s population by 2050 — and combined with rapid technological changes and continued digital disruption; it is inevitable that the way people do business and communicate will undergo significant change.

With these two potent weapons; a very high youth population, and fast growing internet penetration, Africa should have the world as its Oyster, says Dr. Abel Adelakun. Dr. Adelakun noted that understanding this evolving environment provides extensive opportunities to change how people, companies and even economies work through the disruptive power of technology, allowing SMEs in particular the opportunity to expand their footprints and act as the drivers of growth and development.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Egypt’s E-learning Startup Al Mentor Raises $4.5M in Series A funding

Sawari Ventures, Egypt’s leading venture capital firm today announced that it has led a $4.5 million Series A investment round for e-learning platform, almentor.net with participation from Egypt Ventures, Endure Capital and angel investor Mohamed El Amin.

Here Is The Deal

This funding brings the total funding raised by the company to USD $8 million to date.
almentor.net plans to use the funding to accelerate course development and expand the roster of mentors who are recruited through a vigorous selection criterion, with a 10% acceptance rate in order to maintain the highest quality offered in the market.

Why The Investors Invested

According to Wael Amin, Partner at Sawari Ventures, investment into AI Mentor came because the startup was filling a crucial market gap.

“We are very pleased to have led this latest round,’’ said Wael Amin. ‘‘From the beginning, we have supported Almentor’s mission to expand the personal development options available to young Arabic-speaking professionals in the MENA region. Filling this gap in the area of knowledge development and laying the foundation for a rich online learning ecosystem is crucial to the development of the next generation of empowered leaders. We are impressed with what the team has achieved in the last two years and are excited to be part of its future journey.’’

Read also: Egypt Is Finalising A Draft Law That Will Impose Tax On Social Media Ads

A Look At AI Mentor

almentor.net was launched in 2016 with a mission to address the lack of online personal development content for Arabic-speakers. The platform offers a catalogue of exclusive training videos and expert talks, introducing unique knowledge development solutions for the region in areas including health, technology, humanities, entrepreneurship and business management.

“Already we have more than 10,000 videos online and we hope to use this investment to further avail our audience to even more enriching learning experiences, in the process helping young people enhance their personal development and confidence, while increasing their knowledge base,” said Ihab Fikry almentor.net CEO and co-founder.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

South Africa’s Internet of Things Focused Startup Sentian Secures Funding

This is a remarkable approval for Internet-of-Things focused startups in Africa. South Africa’s startup Sentian, which has developed an Internet of Things (IoT)-based home security system, has raised an undisclosed amount of funding to help it to market its products and expand internationally.

Here Is The Deal

Although the amount of this round of funding was not disclosed, Sentian, first raised funding in early 2016 when it was backed by WooThemes co-founder, and increasingly active angel investor, Mark Forrester.
This round of funding was led by from Imfezeko Investment Holdings, a South African based VC which invests in businesses operating in industries such as security, connectivity and related technologies.
Sentian has been building out its tech platform in recent years.
The investment will enable Sentian to evolve and add to its existing platform, allowing it to both expand its current market reach, as well as gain access to new market opportunities.
The startup, which was last year selected to take part in the fourth edition of the Grindstone Accelerator, sells and installs units nationwide, but predominantly in Gauteng and Western Cape, and Little said it wanted to expand both within South Africa and into other African countries.

A Look At Sentian

Founded in 2013 by seasoned engineers Tigue Little and Trevor Lewis after they were both personally affected by home break-ins, Sentian has developed a cloud-connected, Edge-based, IoT smart hub that links a user’s existing intruder alarm, CCTV and automation together, making them smart and easy-to-control, and allowing them to do things they could never do individually.
The startup’s smart hubs are installed at a customers’ property by security installers, and connected to the alarm, CCTV and automation systems. The property owner interfaces with their Sentian system using the Sentian web and mobile app.

“The aim was to bring intelligence to security and to cater for South Africans’ security concerns and constraints. We also wanted to build intelligence that didn’t require an entirely new and costly rip-and-replace system,” Little told Disrupt Africa.

The startup experienced rapid growth over the course of 2018, with revenues swelling by 400 per cent on the previous year.

Although Little said market conditions had made the first half of 2019 challenging, Sentian had already met and exceeded 2018 revenues in 2019 to date.

“Sentian empowers property owners to take back control by essentially placing a virtual control room in their pockets. When your alarm is triggered a 12-second video verification clip is sent immediately to your phone. Sentian knows exactly which motion sensor was activated and uses the corresponding camera coverage to accurately inform you of what happened,” he said.

The company services both residential and commercial clients, and generates almost 50,000 push notifications per month to many hundreds of users.

“The average property is accessed remotely almost three times per day, and we are extremely proud of our extraordinary customer retention rates,” Little said.

“Sentian not only removes the often scary guesswork, but it also allows remote investigation and control through the Sentian mobile app, so property owners can respond appropriately to an event, as if they were actually on site, from anywhere in the world. Let your armed response team enter the estate via automated door access, turn on lights and watch them walk around the house on your cameras.”

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Kareem Olamilekan Shocks the World with Extraordinary Talent

It is not every time the world acknowledges the emergence of a super genius especially from Africa. And not when that genius is an 11 year old hyper realist painter who observers from across the world has dubbed “The new Michelangelo”.

But what young Kareem Waris Olamilekan has achieved so far has etched his name and work in the annals of great art, especially with his recent triumph over 2,723 international candidates to win Taiwan’s 22nd Fervent Global Love of Lives Award.

Kareem whose art has been similarly recognized by global leaders including the President of France, Emmanuel Macron won the Fervent Global Love of Lives Award under Chou Ta-Kuan Cultural and Educational Foundation which was founded in 1997 and annually invites institutions, organizations, schools or individuals to recommend candidates who are brave, benevolent and diligent fighters in life.

The Foundation which promotes the ‘Global Love of Lives movement’ and believes that ‘Everyone is Good at Something’ has been working hard at building bridges across different peooles of the world.

Kareem Olamilekan whose work stands out for his touch of genius is among Nigeria’s fast growing numbers of hyper-realist painters in Nigeria. His is however exemplary because of his very young age. While some others use pen, and ink, he prefers charcoal and pencil as the medium of choice for his paintings.

Using his impressive talent Olamilekan beat all the participants to clinch the 22nd Fervent Global Love of Lives Award; a top Taiwanese award.

Speaking on the commendable development, the Representative of Taiwan ( Republic of China) in Nigeria, Amb. Vincent Yang, said that Waris Kareem, who had gained global recognition for his incredible drawings would attend charity events with other laureates in Taipei and meet Taiwanese President, Tsai Ing-wen.

“Famous Nigerian Internet Bitty Artist – Waris Olamilekan Kareem stood out among 2,723 recommended candidates from all over the world earning the `22nd Fervent Global Love of Lives Award 2019’ from Taiwan’s Chou Ta-Kuan Cultural and Educational Foundation”.

“He sketched a stunning portrait of French President, Emmanuel Macron, on the spot in just two hours, which amazed the global media. He has now become a famous Internet artist,’’ he said.

He went on to extol Olamilekan’s efforts saying, “The poverty-stricken children all call him the little artist Robin Hood. He uses his drawing talent to produce beautiful works in exchange for some food to fight hunger and also to feed the hungry companions in the slum”.

“The works of Michelangelo motivate him, and his goal is to surpass the standard set by the great artist. He intends to use drawings to depict Africa vividly and flip a new life to change Africa”.

The young Nigerian artist is definitely one to watch with a potentially bright career ahead of him

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.