Saturday, 3 December 2016

Elumelu foundation annouces 3rd round of TEF entrepreneurship programme



On January 1, 2017, The Tony Elumelu Foundation (TEF) will begin accepting applications for the third round of the TEF Entrepreneurship Programme. The Programme is the Foundation’s 10-year, US$100 million commitment to training, mentoring and funding 10,000 African entrepreneurs.

The application portal will be open until midnight (WAT), March 1, 2017. Entrepreneurs must complete the online application and selection is on a rolling basis, so early application is encouraged.

TEF Founder Tony O. Elumelu said: “I believe the seeds we are planting through the Programme will transform Africa. Two years on, it is clear that we have found a key to unlocking Africa’s potential for economic transformation. As ourentrepreneurs grow their own businesses and realise theirambitions, so too does the vision. We are showing what the African private sector can achieve; how hard work and enterprise can catalyze real, sustainable development.” 

The Programme is designed to identify entrepreneurs that have the potential to grow their businesses and collectively generate 1,000,000 new jobs, that can contribute at least $10 billion in additional revenues to the African economy. 

According to TEF CEO, Parminder Vir OBE, “This programme continues to surpass our expectations and its success is palpable. Your entrepreneurial journey begins when you make the decision to complete the application. We are seeking real entrepreneurs, people who can take risk and reap rewards, not just for themselves, but their communities and countries.”
The success of 2015 Tony Elumelu Entrepreneurs reflects the impact of the Programme, including:

1. Momar Mass-Taal (Agriculture, Gambia) turned his $5,000 seed capital into $1.2 million in revenue
2. Bukhary Kibonajoro (Education & Training, Tanzania) used the mentorship and training to launch his business, create 34 new jobs and provide growth services for more than 100 local business in 12 months.
3. Chioma Okonu (Waste Management, Nigeria) Has created ancillary revenue streams for more than 6,000 households, created 40 jobs and generates over $50,000 in profit.

To be eligible to apply:

1. Businesses must be based in Africa
2. Businesses must be for profit
3. Applicants must be 18 years of age and above 
4. Applicants must be a legal resident or citizen of African countries

1,000 entrepreneurs will be selected based on the feasibility of the business idea; market opportunity; financial understanding; scalability; leadership and entrepreneurial skills demonstrated in the application.

For more information or to apply, visit:  http://tonyelumelufoundation.org/teep/faqs/

About The Tony Elumelu Foundation
Established in 2010, The Tony Elumelu Foundation (TEF) is the leading philanthropy in Africa championing entrepreneurship and entrepreneurs across the continent. The Foundation’s long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent. The Foundation’s flagship initiative, the TEF Entrepreneurship Programme, is a 10-year, $100 million commitment to identify, train mentor and fund 10,000 entrepreneurs, capable of changing the face of business across Africa. www.tonyelumelufoundation.org/teep @tonyelumeluFDN

Mega party: Atiku, Tinubu, Makarfi’s PDP target March 2017 date

Barring any last-minute change of plans, the proposed mega opposition party in the country will be formed before the end of March, 2017, SUNDAY PUNCH has learnt.
It was gathered that the Ahmed Makarfi faction of the Peoples Democratic Party and aggrieved chieftains of the All Progressives Congress had intensified efforts aimed at forming the party since the result of the Ondo State election was released.
Findings showed that besides the plan to form a new mega party, those involved in the talks were also considering adopting any of the existing political parties as their platform.
It was gathered that those who were participating in the talks included former Vice-President Atiku Abubakar and a national leader of the APC,  Asiwaju Bola Tinubu.
A PDP chieftain, who confided in Sunday PUNCH on Saturday, said with what happened in Ondo,  it had become obvious that the Muhammadu Buhari administration was ready to relinquish power despite the fact that it had no solution to the economic recession in  the country.
The source said, “The mega party is still at a formative stage but I can tell you we are making steady progress.
“With what happened in Ondo, you will agree with me that the cabal around the President, including a governor from the North-Central, and some ministers, has hijacked the party structure.
“They have shown more than once that they want to frustrate Tinubu and Atiku out of the APC.  These are tested politicians, who have no plans of retiring any time soon.
“The picture will become clearer before the end of the first quarter of next year (March 2017) because some of our people believe that if we come out now, the cabal will use executive powers to frustrate us.  Others feel it is better to let Nigerians know but our leaders are meeting at home and abroad. We are waiting for them.”
Investigations showed that those involved in the talks were aware of the Federal Government’s plot to thwart the groups’ plan to form a new mega party, informing the plan of the groups to adopt any of the existing parties and uplift it to a mega status.
A PDP chieftain, who confided in Saturday PUNCH, said, “We are working on the plan to form a mega party, but we may adopt any of the existing parties, if the government thwarts our efforts.”
It was also gathered that the Makarfi faction planned to strengthen its electoral strength in the South-East by entrenching rotational presidency in the constitution of the new party.
A top member of the party, who spoke to SUNDAY PUNCH on condition of anonymity, said the group was aware of the plans by the  Buhari administration to make an inroad into the South-East in 2019.
The PDP chieftain added, “The South-East and South-South are areas of our strength. We have noticed that the Presidency has been receiving Igbo leaders at the Aso Rock. This is part of the bid to win the zone in 2019.
“We may have to make some concessions to the South-East to truly show that we care for the zone. These will include rotational presidency.”
For Tinubu, it was also gathered that the group was seriously considering the offer of the Makarfi faction to form a mega party.
It was learnt that the Ekiti State Governor, Ayodele Fayose, had been reaching out to the Tinubu group on behalf of the faction.
A member of the Tinubu group, who confided in SUNDAY PUNCH, stated, “We do not want to make the mistake we made with Buhari by rushing to support him. We are considering the offer from the PDP faction.”
Besides Tinubu and Atiku, other prominent politicians being targeted by the Makarfi faction include a former Governor of Kano State, Senator Rabiu Kwankanso; the Senate President, Dr. Bukola Saraki, and an ex-governor of Sokoto State, Senator Aliyu Wamakko.
It was gathered that the Makarfi faction was aware of the desperate move of the President to woo Saraki.
This, it was learnt, was one of the reasons for the Senate President’s recent frequent visits to the President.
“We have not given up on Saraki. He is one of us and we believe he is going to be part of the mega party we will form,” a PDP chieftain stated.
One of our correspondents learnt that the Federal Government had dropped the Senate Order forgery suit against Saraki in order to ensure his loyalty to Buhari.
It was also believed that the Senate President was instrumental to the emergence of former sports minister, Bolaji Abdullahi, as the National Publicity Secretary of the ruling party.
“Even the trial of the Senate President at the Code of Conduct Tribunal may crumble or never be concluded. It’s all part of the plan to ensure that Saraki does not join the new party to be formed,” a source told one of our correspondents on Saturday.
For Kwankanso, it was gathered that the former governor had almost been pushed out of the APC by his successor, Alhaji Abdullahi Ganduje.
“Kwankanso is going to be part of the new arrangement because for now, he is only a fringe member of the APC,” the PDP source added.
Efforts made to get the reaction of the Makarfi faction were unsuccessful as calls made to the telephone of the National Publicity Secretary of the Caretaker Committee of the PDP, Mr. Dayo Adeyeye, were not connected.
Adeyeye, a former minister of state for works, had, however, once denied that the inter-party committee, set up by Makarfi, was given a mandate to change the name of the PDP.
When one of our correspondents contacted the Special Adviser to Tinubu, Mr. Tunde Rahman, he said he was not aware of the plan to form a mega party.
He said, “I am not aware of that development. I am not aware at all.”
On his part, the media aide to former Vice-President Atiku Abubakar, Paul Ibe, dismissed insinuations that his principal was considering dumping the APC.
He accused those he referred to as political jobbers and mischief makers of trying to drag the former Vice-President into their baseless conspiracy theory.
“The statement we issued as far back as 2015 on this vexatious speculation is as valid then as it is valid today.
“The same sets of mischief makers are at it again. The Turakin Adamawa has shown in his words and deeds that he is a committed member of the All Progressives Congress nothing has changed,” Ibe stated.
The statement, which was issued by the Atiku Media Office, described media reports linking Atiku to a new party, as “lies concocted by some mischief makers who were trying to cause disaffection between the former Vice-President and his party.
Political realignment are ongoing, says Timi Frank
But the suspended Deputy Publicity Secretary of the APC, Timi Frank, said, “I can tell you clearly; political re-alignments are going on an
PDP crisis may delay party formation
It was, however, learnt on Saturday that the factionalisation of the PDP might  delay the formation of the mega party.
It was gathered that the two factions of the party, especially the Senator Ahmed Makarfi-led National Caretaker Committee, were waiting for the outcome of the ongoing factions legal battle to determine the authentic leadership of the former ruling party.
Already, the intra-party committee set up by the Makarfi’s PDP, was said to have met with some aggrieved members of the ruling party..
A member of the committee, who spoke with one of our correspondents on condition of anonymity, said some of the APC leaders the committee met had agreed to leave the ruling party.
He, however, said those who had agreed to defect from the APC, especially those who left the PDP, said they would not return to the former ruling party, but would be desirous of forming a new party with the PDP.
He said, “We have been meeting with politicians, our former members in the APC and those who were never members of the PDP.
“For strategic reasons, I don’t want to mention their names in order not to jeopardise our ongoing plan.
“Let me however say that majority of them are not willing to join our party. They are suggesting that we form a new party to accommodate all other interest groups. That’s where we are now.”
Asked if that condition would be considered, he said that would be determined after the ongoing case involving the Makarfi and the Ali Modu Sheriff factions was determined.
Impeccable sources said the leadership of the Makarfi faction of the PDP would determine whether to merge with another party if it wins the cases at the courts.
The Sheriff faction, however, accused the Makarfi-led group of working with the APC to destabilise the PDP.
It cited the defection of Senator Yele Omogunwa from the PDP to the APC, which it said was as a result of the ongoing talks between the Sheriff faction and those who defected from the PDP to the APC.
Sheriff’s deputy, Dr. Cairo Ojuogboh, told one of our correspondents that Nigerians should hold the other faction responsible if the party died.
He said, “I saw what Makarfi said in The PUNCH and I must say that the defection could be as a result of the talks they said they are having with those that defected from the PDP to the APC.
“They have told the world that those people would return the PDP. Is this a sign that they are coming?
“These people are killing the PDP and this is why we are in court, to retrieve the party from the grips of its enemies.”
Meanwhile, Senator Buruji Kashamu warned that the crisis rocking the party would linger for a long time.
He said the issue might become what he described as a circus show.
The Senator, representing Ogun East Senatorial District, said the final outcome of the leadership tussle would be determined by the apex court.
He said, “Let us not lose sight of the fact that the appellate court is yet to finally determine the issue of the national leadership crisis. Irrespective of what the High courts say, for or against Senator Ali Modu Sheriff or Senator Ahmed Makarfi, the Court of Appeal and the Supreme Court are still there to adjudicate on the issues, and it could become a circus show.
“Besides, anyone, who is unjustly punished, will not fold his hands and allow his rights to be trampled upon.
“He will do everything legally possible to fight for his rights. And this could result in a series of litigation and create more problems than they are meant to resolve.

Trump appoints Nigerian, Adebayo Ogunlesi to Advisory Council


President-Elect Donald Trump has appointed some of the best and brightest brains in the world to be on his Economic Advisory team to "Make America Great again". He appointed multibillionaires and the CEO's of fortune 500 companies such as Boeing, Walmart, JP Morgan Chase amongst others.
Of the over dozen Presidential appointments, Ogun state born Nigerian businessman Bayo Ogunlesi an Oxford and Harvard graduate who is the CEO and Founder of multibillion dollar company Global Infrastructure Partners made the list. He is also the only black man in the Advisory Committee whose father was the first Professor of Medicine in Nigeria. According to Bloomberg he is worth an estimated $900 million dollars.
See the the list of President-elect Donald Trump's economic advisory team:
Stephen Schwarzman (forum chairman), chairman, CEO, and cofounder of Blackstone
Paul Atkins, CEO of Patomak Global Partners, former commissioner of the Securities and Exchange Commission
Mary Barra, chairwoman and CEO, General Motors
Toby Cosgrove, CEO, Cleveland Clinic
Jamie Dimon, chairman and CEO, JPMorgan Chase & Co.
Larry Fink, chairman and CEO, BlackRock
Bob Iger, chairman and CEO, The Walt Disney Company
Rich Lesser, president and CEO, Boston Consulting Group
Doug McMillon, president and CEO, Wal-Mart Stores Inc.
Jim McNerney, former chairman, president, and CEO of Boeing
Adebayo "Bayo" Ogunlesi, chairman and managing partner, Global Infrastructure Partners
Ginni Rometty, chairwoman, president, and CEO of IBM
Kevin Warsh, Shepard Family Distinguished Visiting Fellow in economics at the Hoover Institute, former member of the Board of Governors of the Federal Reserve System
Mark Weinberger, global chairman and CEO, EY
Jack Welch, former chairman and CEO, General Electric
Daniel Yergin, Pulitzer Prize winner, vice chairman of IHS Markit

Thursday, 1 December 2016

Eviction Fear Grips The Next Movie Star House

The race for the prestigious crown of the Next Movie Star 2016 edition ‘Super Charged’ is getting hotter following the eviction of six housemates from the Next Movie Star house.
In what will go on to be an eventful and most emotional period in the house, the wind of eviction that swept through the house left many of the remaining housemates dumbfounded.
First to be evicted from the house was 25 year Maria Attah who was voted out by her fellow housemates in a ballot after a task called the Knowing me knowing me Game. A twist was however added to the scenario as Igodo the Voice of the house exempted some from the whole eviction exercise who ironically was not in the good books of the other housemates.
After the whole voting exercise, Sophia Okorie, Victory Bamgbade, Moses Samuel  were put up for eviction.
Sophia was however evicted having amassed more votes from his fellow housemates. The display of emotions was evident as tears flowed freely from the other housemates in solidarity for the evicted colleague.
However the dust surrounding the eviction of Victory Bamgbade was yet to abate, when a few days later two other housemates were pardoned by Igodo the voice of the house to the surprise of many.
Veterans and industry experts have been visiting the house since the house mates entered the house.  They have taught topics ranging from Production Management to Art directing; Social Media Management to Public Relations; and from Screen writing to Stage Acting and dancing. One of them was Mr Kingsley james, who spoke to the housemates on the Attitude of a Star Actor, and how to make financial reward from the profession.  
Tears flowed freely as the other housemates who survived the wind of eviction were left drooling in uncontrollable emotions after seeing their colleagues leave the house.
The evicted housemates will be hosted to a lavish eviction party at a location that will be disclosed later by the organizers amidst pomp and pageantry with family friends and well wishers expected to be present at the event.
The Next Movie STAR 2016 tagged ‘SUPER CHARGED’ which is the 12th  anniversary edition of the show is the only privately run reality show in the whole of Africa,  powered by Digital Interactive Media, and proudly supported by Coca Cola…..

I’ve destroyed my US Green Card, says Soyinka



 Nobel prize-winning author, Prof. Wole Soyinka, said on Thursday he had fulfilled his pledge to throw away his US residency green card and leave the country if Donald Trump won the presidential election.
Shortly before the vote, Soyinka had vowed to give up his permanent US residency over a Trump victory to protest against the Republican billionaire’s campaign promises to get tough on immigration.
AFP reported that Soyinka said this on the sidelines of an education conference at the University of Johannesburg.
“I have already done it, I have disengaged (from the United States). I have done wha 82-yeasaidHe added,  “I had a horror of what is to come with Trump… I threw away the (green) card, and I have relocated, and I’m back to where I have always been” – meaning his homeland Nigeria.
The prolific playwright, novelist and poet won the Nobel Prize for Literature in 1986 and has been a regular teacher at US universities including Harvard, Cornell and Yale.
At the same time, he said he would not discourage others from applying for a green card.
“It’s useful in many ways. I wouldn’t for one single moment discourage any Nigerian or anybody from acquiring a green card… but I have had enough of it,” he said.
Soyinka, one of Africa’s most famous writers and rights activists, was jailed in 1967 for 22 months during Nigeria’s Civil War.
He was reported to have recently completed a term as scholar-in-residence at New York University’s Institute of African American Affairs.

AfDB and United Bank for Africa Plc sign US$ 150 million Line of Credit



 The African Development Bank Group (AfDB) and United Bank for Africa Plc (UBA) on Wednesday November 30, 2016, signed a US$ 150 million loan agreement to finance infrastructure and SME projects, including women-owned enterprises in Nigeria.


“The Fund will support development of productive sectors of the economy; particularly the power sector, Infrastructure, Women owned enterprises as well as SMEs. This line of credit comes at an opportune time and would boost efforts at reducing the huge power sector-financing deficit that is limiting energy supply and complement our support to medium and small scale enterprises while also promoting gender diversification across the value chain” said Kennedy Uzoka, UBA Group Managing Director/CEO.
UBA, one of the largest commercial banks in Nigeria incorporated in 1961, operates in 19 African countries whilst providing a wide range of products and services. UBA Nigeria has been the leading financial institution to support various infrastructure projects, particularly power, telecom, transport and also social infrastructure such as hospital and education facilities, and received Social Infrastructure Deal of the Year Award in 2015. UBA Nigeria operates in each of the country’s 36 states through more than 450 branches supporting 3,700 SMEs across the country.
AfDB has remained UBA’s long-term partner in its financing activities. In 2009, AfDB provided liquidity facilities to deepen its trade finance and other lending activities, thus contributing to key economic sectors of the Nigerian economy, particularly at a time when the economy requires critical funding to stimulate growth and employment.
By leveraging UBA’s branch network, the Line of Credit will also scale up lending to SMEs and women enterprises in both urban and rural areas to create more jobs and to promote inclusive growth for Nigeria’s economy by stimulating the various sectors such as manufacturing, construction, agriculture, education and services.

Nissan announces new strategy to improve ownership experience

Nissan announced today a comprehensive strategy to transform the customer aftersales experience through innovative technology and enhanced services. As a result, connected car services and greater choice in accessories and personalization will increasingly drive growth in Nissan’s aftersales business, anticipated to contribute 25% of aftersales revenue by 2022.

“Nissan has a clear plan to develop its aftersales business by leading the industry in delivering the latest technology to our customers around the world,” said Kent O’Hara, Nissan Corporate Vice President and head of the Global Aftersales Division. “This strategy is about giving our customers more choices and new services to make the ownership experience better. It will also help us expand our connected car, big data and personalization innovations to improve the customer experience and open up new revenue streams for the company.”

Connected car technology and expanding use of big data will enable Nissan to offer new services, improve the dealership experience and increase customer retention. In the future, Nissan cars will provide customers advance notice when servicing is needed, as well as automatically order parts to ensure dealership availability on customer visits. Connected car technology will also dramatically streamline Nissan’s global supply chain, bringing just-in-time logistics to increase manufacturing efficiency, from plants to the dealer.

For Nissan, a key element of the strategy is developing connectivity for all customers, including those in emerging markets and those who already own Nissan cars. Connected cars will be available as a dealer option starting in Japan and India and expanding to other countries by 2020. Nissan is also developing affordable solutions to offer customers connectivity using multiple technologies as an aftersales option. Those technologies will be offered to customers who already own vehicles that were not manufactured as connected cars. They will allow those vehicles to become connected, enabling those customers to receive the additional benefits of managing their vehicles that come from connectivity.
Nissan’s aftersales business will be strengthened further with a focus on personalization and accessories, pushing Nissan to the forefront of customization in the auto industry. Starting with the new Nissan Micra, which will be built at the Flins plant in France, Nissan is advancing the manufacturing and design process to offer customers even more choice.

“Nissan has a comprehensive long-term vision to offer our customers greater choice than ever before,” said Kent O’Hara. “When car manufacturing was in its infancy, customers could have any color they wanted as long as it was black. Nissan led the way in developing factories that can build multiple different models on the same line. Now we are taking manufacturing to the next level of sophistication. Our customers want cars that are tailored to their lifestyles and aspirations. The ultimate goal is hyper-personalization.”