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Entrepreneurship is the Key to Unlocking Economic Development on Our Continent,” Tony Elumelu Says at The Tony Elumelu Foundation Entrepreneurship Forum

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5,000 African entrepreneurs, private and public sector leaders and the broader entrepreneurship ecosystem convened in Lagos on Thursday, October 25, 2018 for the annual Tony Elumelu Foundation (TEF) Entrepreneurship Forum. The event which is the largest gathering of African entrepreneurs in the world, is a unique opportunity for bringing together young business talent, creating dynamic networks and transmitting the message to policymakers that a vibrant and responsible private sector will deliver economic transformation.

Now in its fourth year, the Forum marked the graduation of the 2018 cohort of the TEF Entrepreneurship Programme, following a rigorous nine-month period of training, mentorship and funding, which brought the total number of beneficiaries of the Programme to 4,470, with over 300,000 applications received to date.

One of the highlights was the unveiling of TEFConnect, a revolutionary digital community that brings together the complete entrepreneurshipecosystem across Africa and beyond, including entrepreneurs, investors and the broader business community on one platform, connecting them digitally with three vital elements for success – capital, market and business tools. Africa is riding a wave of rapid technological driven change in payment systems, education, agriculture and infrastructure and TEFConnect fulfills a critical role in linking entrepreneurs across the continent.

Commencing with a series of goodwill messages from key stakeholders in the investment, governmental and development communities, the event featured a pitching competition, panel discussions, as well as a vibrant interactive session between His Excellency, President Nana Akufo-Addo and the entrepreneurs, moderated by TEF Founder, Tony O. Elumelu. It also featured a session on the role of the private sector in the economic development of Africa with Dr. Awele Elumelu, TEF Trustee, Founder, Avon Medical and Gavi Champion for Immunisation in Africa; moderated by CNNMoney Africa Correspondent, Eleni Giokos. Parminder Vir, CEO, Tony Elumelu Foundation also unveiled the TEF Impact Documentary, featuring success stories of the Tony Elumeluu Entrepreneurs.

Tony Elumelu reiterated his commitment to championing Africa’s economic development by supporting and training a new generation of entrepreneurs, whose successes can transform the continent, delivering opportunity, job creation and social impact. ‘Africa’s future is in African hands’ he stated.

“Our Foundation and its unique approach of training, mentoring and funding has proven that entrepreneurship is the key to unlocking economic transformation of our continent. I believe so strongly that success can be democratized and if we can match ambition to opportunities, this extraordinary generation can achieve anything,” said Tony Elumelu.  “With TEFConnect, we have created a tool, that provides a digital platform to host ideas, champion success and demonstrate Africans ability to use the most advanced technologies to take charge of their economic destinies.”

His Excellency, President Nana Akudo-Addo of Ghana underlined the importance of galvanizing the broad entrepreneurship eco-system, calling on public sector representatives to encourage, support and replicate the work of the Tony Elumelu Foundation in their respective regions.

Speaking on the importance of putting the right policies in place, President Nana Akufo-Addo said: “Nothing is changed or developed on its own. People must get up, speak, have discussions and change the dialogue”.

Since its inception, the Tony Elumelu Foundation has empowered African entrepreneurs across the continent with a $5,000 non-refundable seed grant, a bespoke training programme designed specifically for the African environment and access to a dedicated group of mentors, significantly contributing to economic growth, job creation and revenue generation.

The Forum was attended by key players in the private and public sector including Governor, Kebbi State, Senator Abubakar Atiku Bagudu; Governor of Bauchi State, Alhaji Mohammed Abdulahi Abubakar; President, Lagos Chamber of Commerce and Industry, Nike Akande; Former Governor, Cross River State, HE Donald Duke and Former Governor of Anambra State, HE Peter Obi, among others.

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Transcorp Hotels Plc Bids Farewell To Valentine Ozigbo, Welcomes Owen Omogiafo As New MD/CEO

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Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp) and owners of the award-winning Transcorp Hilton Abuja and the iconic Transcorp Hotels Calabar hosted a farewell/welcome dinner in honour of its immediate past Managing Director/CEO, Valentine Ozigbo who has been elevated to the role of the President/CEO of Transcorp Plc and Owen Omogiafo the current MD/CEO of Transcorp Hotels Plc.

The Black-tie event held at the Congress Hall of the prestigious Transcorp Hilton Abuja was indeed a night of farewells and welcomes as the outgoing and incoming General Managers of Transcorp Hilton Abuja, Etienne Gailliez and Kevin Brett were also celebrated. The glamorous event featured different presentations from Classical music, award presentations, and vote of confidence speeches from notable personalities who were present to honour these icons including Professor Charles Soludo, former Governor and Chairman of the board of directors of the Central Bank of Nigeria, Jan Van Der Putten, Vice President Operations, Africa and Indian Ocean, Hilton Worldwide, Professor Osita and Dr. Ogugua Ogbu, Alhaji Dikwa, Chief Collins Chikeluba, Former Director, Central Bank of Nigeria, Mr. Anslem Tabansi, Sabi Bar-Noy, Chairman of Nairda, Iheanyi Nzekwe, Chairman, Teknokleen Group, dignitaries from the Diplomatic Communities and several CEOs and Captains of the industry.

Valentine Ozigbo in his appreciation speech alluded his excellence and success as the MD/CEO of Transcorp hotels Plc to his background and great mentors whom he served under their tutelage, according the highest accolades to the Chairman of Transcorp Plc, Tony O. Elumelu for years of mentorship. Speaking about his successor, Owen Omogiafo, Valentine said: “I couldn’t have found a better person to succeed me and I am confident that she will do better, I have seen her strong execution skills and I can attest that she will do even better than me.”

The Chairman of Transcorp Hotels Plc, Emmanuel Nnorom in his remarks appreciated Valentine for maintaining and deploying high-level of corporate governance and for driving positive transformation in Transcorp Hilton Abuja and Transcorp Hotels Calabar. He further charged him on the new responsibilities at Transcorp Plc and admonished him to carry on the good works. Speaking about Owen, he stressed her affinity with the vision and mandate of the Transcorp Plc group and expressed his confidence in her ability to take the company to enviable heights.
Owen Omogiafo in her remarks appreciated the immediate past MD/CEO, Valentine Ozigbo and the Hilton management team for leaving behind a solid foundation for her to build on. “I am well aware that I am stepping into big shoes, but they are solid shoes and they have a strong foundation, I am also aware of the company’s responsibilities to all its key stakeholders and I’ll be working with the team members to execute them excellently.”

The event ended on a high-note as all present were serenaded with high-life tunes from one of Nigeria’s best musicians, Flavour.

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Fruit Juice Helps to Lower Blood Pressure

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A famous health and fitness consultant, Dr. Bisi Abiola has said that fruit juice could reduce the risk of high blood pressure (BP) if taken regularly.

Abiola stated this during the January edition of the monthly healthy living dialogue, an event sponsored by Chi Limited. The platform gives experts an opportunity to x-ray the benefits of 100% fruit juice.

The fitness coach said that drinking a glass of fruit juice gives an individual the opportunity to get at least eight per cent of daily potassium, which neutralises sodium and helps to lower BP.

She explained: “The overall amount of sodium and potassium in your diet affects your BP. Sodium makes it go up while potassium offsets sodium and helps to lower BP. Researches have shown that consuming more potassium reduces BP in people with hypertension; and this has huge benefit for consumers as long as they do not suffer from kidney disease”.

“Most of us only get about half of the recommended dietary allowance for potassium. What many people do not know is that taking a glass of orange juice allows you to get at least eight per cent of your daily potassium,” she stressed.

While many hypertensive individuals resort to medication, Abiola stated that “medication is not the only way to control high BP, otherwise known as hypertension. Lifestyle and diet also play an important role in managing such a health challenge”.

According to her, fruit juices from trustworthy brand like Chivita produces bioflavonoids such as hesperidin – functions as an antioxidant and can help to lower cholesterol.

She continued: “When healthy, reasonably overweight men drink orange juice daily for four weeks, and their diastolic BP goes down, the researchers who were searching for hesperidin’s role concluded that the bioflavonoid was probably linked to the beneficial effects. Another study confirmed that regular consumption of hesperidin helps to prevent hypertension.”

Abiola also reiterated that B vitamin folate from fruit juice also helps to prevent hypertension. In her view, individuals who consumed folate from their early adult age are at a lower risk of high BP later in life.

“A number of reputable authors have concluded that 100% fruit juice or whole fruit is not significantly associated with increased risk of hypertension or diabetes. Evidence indicates a modest but consistent reduction in BP with 100% fruit juice,” she said.

 

 

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eTranzact Get Shareholders’ Approval to Raise Authorized Share Capital to N9.1Billion

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eTranzact International PLC, Africa’s premier electronic payment solutions provider has gotten the express approval of Shareholders of the company to raise its Authorized Share Capital from N2.1 Billion Naira to N9.1 Billion Naira.

The capital raise proposal of N7 Billion was tabled by the Mr. Wole Abegunde, Chairman of eTranzact, at an Extraordinary General Meeting of the Company held in Lagos recently. He stated that the decision to raise additional capital became imperative considering the need of the Company to expand its operations, deepen its market share and to remain competitive in the financial technology industry.

According to Mr. Abegunde, the capital to be raised will be used to upgrade and enhance the Company’s technology infrastructure and network security systems and also to improve on its service delivery. He further stated that the Company will also invest in its Agent Network Expansion Program, Human Resources and Employee Development.

Also, speaking with journalists at the EGM, the Managing Director/CEO of eTranzact, Mr. Niyi Toluwalope, believes that the injection of additional equity will enable the Company’s Management to strategically maintain the Company leading position as a key market leader within the electronic payment industry.

The eTranzact boss affirmed that eTranzact will acquire state-of-the-art infrastructure, ensure that the Company retains the best skill set available, achieve a fast response rate, reduce downtime, and expands its service offerings and market reach.

Founded in September 2003, eTranzact is Nigeria’s first award winning, multi-application and multi-channel electronic transaction switching and payment processing platform.  It has evolved into a brand with global reach with operations in Nigeria, Ghana, and South Africa, with expansion inclination to more countries in the world.

Since Inception, eTranzact has deployed mobile payment solutions to banks, non-bank financial institutions and was recently granted license by the CBN to provide Mobile Money services to individuals with a special focus on the unbanked.

 

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