West Africa This Week: Startup Event Glimpses [July 01-08, 2018]

By  |  July 8, 2018

In no particular order, these are the big-deal events that took place this week in West Africa, armed to advertise the startup scene, better it and promote Small and Medium Enterprises (SMEs).

Nigeria: FintechNGR Hosts IMF Team

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The Fintech Association of Nigeria, the umbrella body coordinating fintech activities in the country, hosted a team of the Internal Monetary Fund, led by the Senior Resident Representative Dr. Amine Mati. FintechNGR equaled co-hosted the UK team headed by the Mayor of the City of London, Rt. Hon. Alderman Charles Bowman, in a different event.

In his welcome address, Dr. Segun Aina, President of FintechNGR, informed that the way the association’s membership is diversified to include key players in banking, consulting, education, IT, law and startups, make it fit best fir opinion of fintech-related matters in Nigeria. He reckoned that the impacts of the group transcend Nigeria as it is opening cross-border market access and policy regime.

Presentations were made by members of FintechNGR, after which an interactive which focused on basic end-to-end technology, incentive establishment, collaborations and adequate security was held. The closing remarks given by Mr. Olufemi Awoyemi revealed that driving innovation is a key consideration in terms of achieving low-level financial exclusion.  

TACT SME Conference 2018

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With the theme Formalization and Financing, the TACT SME Conference held and proved impactful to participants, including SME entrepreneurs and policymakers. The event highlighted the major bottlenecks faced by businesspersons. It also featured the opportunities available in the scene, as well as the measures that can be taken to better MSME’s eligibility for available interventions. CBN, BoI, SMEDAN and Lagos State Employment Trust Fund (LSETF) were all represented. Various dignitaries addressed the participants on entrepreneurial topics, which they were very much thankful for as express at the close of the conference.

Ghana: UMB Holds Seminar in Kasoa, Ghana

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The Universal Merchant Bank, in an effort to empower SMEs, while co-functioning with accounting firm KPMG, held its maiden seminar for SME clients within the business enclave. The three-part event held at the UMB Center for Businesses in Kasoa, educated participants on bookkeeping, tax compliance, corporate governor and succession planning, and other enterprise-related subject matters. 30 selected clients from different segments of the SME sector were present at the event. KPMG and UMB facilitated an interactive session that centered on building succession plans, keeping reliable accounting records, increasing employment opportunities and reforming governing structure among others. The seminar as well brought about the opportunity for the bank to table about concerns and suggestions by the participants. Idea, though and expertise exchange seemed to be the order of the events, a regards setting up and running successful SMEs.

Staff Bus Nigeria Bags NGN 5 Mn Tinubu Grant At STEP Competition

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Staff Bus Nigeria, a tech startup bringing solutions to the commuter problems faced in Lagos, won the NGN 5 Mn grant wired by Seyi Tinubu Empowerment Project (STEP). At the pitch event held on Tuesday in Lagos, the startup emerged winner, won the grant, an LCD advertising display of the brand in Lekki Toll Admiralty Plaza and a free office space for 6 months at ENOV8 Solutions in Lekki, Lagos. Other winners were DriversNG who came second runner-up, and Meat World who was the second runner-up. Both startups bring about tech-wise solutions in their operations.

Staff Bus Nigeria commutes residents in Lagos from their places of residence to work and back each day, in a hassle-free way.

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