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Tony Elumelu Foundation Opens Applications for 5th Cycle of $100m Entrepreneurship Programme

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Application exclusively available on TEFConnect.com– the largest digital networking platform for African entrepreneurs

Invitation to join existing 4,470 programme Fellows

4th Cycle drew over 150,000 applications from across the African continent

The Tony Elumelu Foundation, the leading African-funded and founded philanthropy committed to empowering African entrepreneurs, is now accepting applications for the 2019 cohort of the TEF Entrepreneurship Programme.

The Programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs. The Programme’s objective is to generate at least 1,000,000 new jobs and create at least $10 billion in new business revenue across Africa. Now in its 5th year, the TEF Entrepreneurship Programme has empowered 4,470 entrepreneurs, using a bespoke and robust selection, training and implementation process to create visible and sustainable impact across all 54 African countries.

Outstanding African entrepreneurs running existing start-ups with high growth potential and aspiring business owners with transformative ideas are invited to apply. We are particularly looking to grow representation from French, Arabic and Portuguese speakers, as well as female entrepreneurs.

Inspired by Tony Elumelu’s economic philosophy of Africapitalism and his vision to institutionalise luck and democratise opportunity for a new generation of African entrepreneurs, the Foundation has implemented one of the most ambitious entrepreneurship programmes globally. Selected entrepreneurs from previous years have transformed their businesses and their communities after gaining from the Programme’s 7 pillars: $5,000 in seed capital; business development training; one-on-one mentoring; access to TEFConnect; pan-African meetups; TEF network membership; and participation at the annual TEF Entrepreneurship Forum, the largest convening of the African entrepreneurship ecosystem.

Founder, Tony O. Elumelu, CON, stated: “The private sector must be the core driver of Africa’s economic transformation, but this sector cannot attain its full potential if entrepreneurs are left behind. We call on all stakeholders – policymakers, business leaders and development agencies – to actively commit to creating a better future for our young Africans who have demonstrated intellect, skill, and passion, to empower them to succeed because their success is Africa’s success. The TEF Entrepreneurship Programme is by far the most impactful project of my life and represents my commitment to transforming Africa through entrepreneurship”.

Parminder Vir, CEO, Tony Elumelu Foundation, said: “Our entrepreneurs illustrate the Foundation’s commitment to transform the African economy, by building on the intelligence, skills and resourcefulness of Africans. I encourage all ambitious young Africans to take advantage of this unique opportunity”.

The Foundation, which has recently hosted President Macron of France, President Uhuru Kenyatta of Kenya and President Nana Akufo-Addo of Ghana in dynamic interactive sessions with young African entrepreneurs, is committed to supporting the entire entrepreneurship ecosystem – from the entrepreneurs themselves, governments who must provide enabling environments, to capital, advice and most importantly access and networks.

The TEF Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run for-profit businesses based in Africa that are no older than three years. The deadline for applications submission is March 1, 2019.

Applications will be judged based on criteria including: feasibility, scalability and potential for growth of the product/service; market opportunity for the idea/business; financial understanding, leadership potential and entrepreneurial skills.

Applicants can apply on TEFConnect – www.tefconnect.com – the largest digital networking platform for African entrepreneurs.

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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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