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  • ICC prosecutor appeals acquittal of Ivory Coast’s Gbagbo

    Chief Prosecutor of the International Criminal CourtFatou Bensouda has appealed against the shocking acquittal of former Ivory Coast leader Laurent Gbagbo over post-electoral violence that killed around 3,000 people.

    Gbagbo, the first head of state to stand trial in The Hague, and his deputy, Charles Ble Goude, were both cleared of crimes against humanity in January and released the following month.

    “The appeal will demonstrate that the trial chamber committed legal and procedural errors, which led to the acquittals of Gbagbo and Ble Goude on all counts,” Prosecutor Fatou Bensouda’s office said.

    Judges had cleared the pair “without properly articulating and consistently applying a clearly defined standard of proof,” said Bensouda.

    Ivory Coast’s former Prime Minister Pascal Affi N’Guessan, who heads Gbagbo’s Ivorian Popular Front party, condemned the appeal.

    “These are judicial delaying tactics and political doggedness to keep Laurent Gbagbo and Charles Ble Goude as far away from the country as possible to prevent them from participating in Ivory Coast’s political life,” he told AFP.

    Read Also: Laurent Gbagbo’s trials

    Georges Armand Ouegnin, the head of a pro-Gbagbo coalition of political parties and civic groups, echoed him.

    “I am deeply disappointed but I’m hopeful,” he said, adding that the pair “are innocent”.

    “It’s important that they come back to Ivory Coast for national reconciliation,” he added.

    Belgium agreed to host Gbagbo, 73, after he was released in February under conditions including that he would return to court for any prosecution appeal against his acquittal.

    Ble Goude is meanwhile living in the Netherlands under similar conditions.

    Gbagbo faced charges of crimes against humanity over the 2010-2011 bloodshed following a disputed vote in the West African nation.

    Prosecutors said Gbagbo clung to power “by all means” after he was narrowly defeated by his bitter rival – now president – Alassane Ouattara – in elections in the world’s largest cocoa producer.

    However, judges dismissed the charges, saying that the prosecution “failed to satisfy the burden of proof to the requisite standard.”

    The prosecutor had previously indicated in January that she intended to appeal but had to wait until the court’s full written reasons for the decision came out in July.

    Ouattara has refused to comment on the acquittal on crimes against humanity of his predecessor Laurent Gbagbo at the International Criminal Court while insisting investigations would continue.

    “No reaction from me, it’s an ongoing trial…” Ouattara said in an interview with Radio France International in the Ethiopian capital, Addis Ababa, where he was attending an African Union summit.

    But he added: “Someone must be responsible for the 3 000 deaths. I hope that justice will shine a light on that, it is what the victims are asking for.”

  • Police tender report on Wike’s victory

    A serving Assistant Commissioner of Police in Rivers State, ACP Victor Onugbo,  yesterday tendered a document before the Governorship Election Petition Tribunal, authenticating the electoral victory of Governor Nyesom Ezenwo Wike during the March 9, 2019 election.

    Onugbo, who serves  at the State Criminal Investigation Department, Port Harcourt, appeared before the tribunal based on the court subpoena on the State Commissioner of Police.

    Responding to questions from counsel to African Action Congress ( AAC), Henry Bello, ACP Onugbo told  the Tribunal that the document he presented was the incident reports of all that occurred during election. He added  that the report was sealed by the Rivers State police command.

    Onugbo also told the court that the then commissioner of police, CP Usman Belel signed the documents of the results sheets after Declaration of the winner of the March 9 election.

    Read Also: Wike won election, says APC witness

    Also responding to questions from  Wike, on whether it is a practice in the police that certified copies  of the documents are  kept in the custody of the command, Onugbo said all the documents are certified and  kept  in the custody of the Officer in Charge of Legal matters at the command.

    Onugbo also told the court that he was an observer during the election. He dismissed evidence that police was indicted in  the alleged electoral violence in the state.

    Meanwhile, AAC has closed cross examination of its witnesses with appearance of the ACP in court.

    The Tribunal adjourned till today for the Independent National Electoral Commission to present it’s witnesses.

    However, speaking with reporters outside the courtroom, the AAC counsel, Henry Bello, noted that his client has closed its case with the cross examination of the police officer who tendered evidence documents before the Tribunal.

    He said: “It is not the number of witnesses you call that is important but the materiality of the evidence given by the witnesses. I am an advocate for change of a lot of things concerning the conduct of  election litigation in Nigeria. Most of the things we do in election are basically documentary.

    “It is my considered opinion that AAC as with these vital witnesses demonstrated alot of things before the tribunal. We will await the decision of the tribunal on the points we have made before the tribunal.

    “I had 1650 witnesses, I donated some of them to the 1st petitioner and they were able to call 20 out of the 500 we gave the them”.

    Woyike Livingstone,  counsel to INEC, said: “Today the court has heard evidence from the PW23 in the capacity of the Assistant Inspector General of Police who was subpoenaed to come and give evidence in this regard and he has given evidence to the effect that the report, which he tendered as an exhibit authenticating the victory of the Governor of Rivers State, Nyesom Wike.”

  • ‘Revamping culture in Ekiti is a priority’

    When Ekiti State Government appointed Wale Ojo-Lanre as new Director General, Ekiti State Council for Arts and Culture, many agreed that the governor had chosen a round peg for a round hole. Ojo-Lanre has what it takes to re-engineer arts and culture in the state. In this interview with PAUL UKPABIO, he speaks on the challenges and the journey so far.

    What did you meet on ground as new DG?

    I can say that without any hesitation, I met nothing on ground. For the past four years during the tenure of Dr Kayode Fayemi’s successor, it was the Bureau For Tourism, Arts and Culture. I called its media officer to let me see all his works, what he has  been able to do, and if there are documentations. He told me that for four years he only wrote one story. Within three weeks that I have resumed office I asked him how many stories he has written.  He said he has been able to write over 68 stories with most published. So, until now the place was dead. The place was stagnated.

    I met a horde of civil servants who are professionals, fantastic, pro-active, educated and ready to work and learn. Well, all my directors are professionals, my permanent secretary graduated from Theatre Arts Department, University of Ibadan. The directors are professionals in tourism, journalism and law. The director of Art and Monument is a graduate of Education Anthropology. So, I have a coterie of brilliant civil servants that when they saw my enthusiasm they said they were ready to identify with me. And since I resumed we have turned most of our challenges to opportunities because we never allowed them to deter us.

     How are the people responding?

    When a righteous person reigns, people are happy. A man who thinks is different from a man who dreams. A man who sees a vision is different from a man who thinks. A man who dreams would have been able to philosophies on what his people want and what their cravings are. The first thing I did was to talk to the staff, charge them up and we always discuss on every item. We always have a conference. We subject it to analysis like information gathering. There is no supremacy of ideas and we give in to superior argument. Once we have decided on something, we go for it.

    I told them it is no longer business as usual but it is going to be business unusual. I do not wait for funds. If we have an idea, we do it and then wait to collect the refund when the money is ready. I have talked to the staff about this and they have agreed and are committed.

    Another thing we have also done was to trace the culture and tradition to the paramount rulers. We visited the Ewi of Ado, the paramount ruler of Ado-Ekiti and we explained our vision. I also addressed the council of traditional rulers, that is, the Oba’s council. Apart from that we identified the stakeholders in the society such as the professionals. We paid visit to the State College of Education, where they have established one of the best departments of arts, culture, dance and music. We discussed with them and we have established a relationship. Very soon, we are going to hold EKITIFEST a replica of NAFEST where we will show the fundamentals of Ekiti culture and hospitality.

      Tell us about your background.

    My background is in journalism, education and law. I’ve spent the better part of my life in journalism, particularly in travel and tourism, hospitality, culture and art. This has given me a robust perception and fecund understanding of the job terrain. When I was appointed, I didn’t assume I knew all. I consulted wide, visited states in the Southwest to compare notes and see how things are being done. I believe in apprenticeship and understudy, no matter how short it is, it always produce results.

    These days I noticed you are not wearing suit as much again

    Read Also: Ekiti to prioritise arts, culture

    Yes, I used to wear suit a lot but now in the council we wear native dresses and clothes on two out of five days of the week. And that is Wednesday and Fridays. We have four meetings during the week and two of those meetings are conductd in native language.

    Is it all of you that can speak Ekiti language?

    Yes, except of course the youth corps member. We also encourage them to learn the language. Yes, it’s for identification, I am from Ekiti and I am a Yoruba man. It shows I’m a cultural person and I have pride in my culture.

     How do you feel coming back to government?

    It is about service. I was doing my medical report for the Law School when I was called and told about my new appointment. I had to abandon the Law School for the call to service.

      Where did the passion for journalism set in?

    The passion started with my dad. We were staying at No 3 Station Road in Osogbo. Opposite our house, the newspaper agents used to drop Daily Times for sale and my father used to pick a copy. I started developing interest in journalism because journalists were usually well respected. I started praying that I should be a journalist, a policeman or someone in espionage because then I used to watche lots of films. But when I finished school I stayed with my uncle in Festac who was working in the bank. He was the foreign exchange manager at UBA then. Most people in our family were co-opted into banking. He secured a job for me in First Interstate Merchant Bank. I was given appointment with a fat salary, I refused. He later took me to oil and gas where I was given a fat salary too but I refused. But in 1981, I went to Tribune newspaper, where I was given an appointment and told to start on a salary of N6000. And I accepted. When I got home, nobody prayed for me at home. Later my uncle’s wife had to call and ask why? My mum even called me useless and asked me to come home and work for her so she’ll pay me even more. In my house, when you get a job, you were assisted with starter pack such as mattress, stove sand basically everything you’ll need to furnish the house, none of them gave me that. They didn’t even blink at me!

    I was living comfortably in my brother’s boys’ quarters in Festac town but when the newspaper asked where I wanted to be posted to, I opted for Ibadan and that even annoyed my family again. But, I found a place in Ibadan where I stayed.

     You are known to have traveled far and wide. How many countries have you been to?

    I have been to 86 countries of the world. I cannot quantify the wealth of knowledge that I have been able to gain from these travels. Sometimes I develop new brain waves and the people working with me will just be looking amazed. Meanwhile some of those ideas are sometimes things that I saw somewhere else. For instance, I have been to Halloween, what people will refer to as a festival of the witches and wizards. I was once in a ship during my travels and the ship got stalked and stopped on the sea! We were just there not moving. Libations had to be poured in a ceremony before the ship continued on the journey.

     Where was that?

    That was in Barcelona.

  • Unbundling the oldest conglomerate

    A proposal to unbundle the real estate businesses of Nigeria’s oldest conglomerate, UAC of Nigeria Plc, is attracting positive investors’ sentiment, Capital Market Editor Taofik Salako reports

    UACN Property Development Company (UPDC) Plc doubled its share price last week, reminiscent of the magical turnaround of equities. It led the rally at the Nigerian equities market with a price gain of 51.52 per cent.

    In the first week of this month, UAC of Nigeria (UACN) Plc’s share price rose by 21 per cent, followed by UPDC, which rose by 12.50 per cent. This implied that UPDC had risen by about 70.5 per cent over the past two weeks, from 88 kobo to N1.50 per share. And the rally appears unbroken yet.

    Details at the Nigerian Stock Exchange (NSE) show that while bargain-hunters are opening up buy orders to attract shares supply, the shareholders of the two companies are unwilling to trade away their shares. Under the rules at the NSE, for every price movement, UACN, as a medium-priced stock, requires a minimum volume of 50,000 shares and UPDC, a low-priced stock, requires 100,000 shares. The tickle for the bullish run was a proposal by UACN to unbundle UPDC and its associated company, UPDC Real Estate Investment Trusts (UPDC REITs) Plc.

     

    New strategy

    UACN, Nigeria’s oldest surviving conglomerate, has unveiled a massive restructuring programme that will see the unbundling of its publicly-quoted real estate subsidiary, UPDC and associated company- UPDC REIT.

    Under the first part of the multi-structured restructuring plan, UPDC will float a rights issue of N15.96 billion to reduce outstanding debt to a level that it is serviceable from recurring cashflows. After this, UPDC will unbundle its shareholding in UPDC REIT by directly transferring the shares to its shareholders on the basis of post-rights issue shareholdings. Thus UPDC’s shareholders will become direct shareholders in UPDC REIT.

    On the second part, UACN will unbundle its majority equity stake in UPDC by directly transferring its shareholdings in the real estate company to UACN’s shareholders, thus making the existing UACN’s shareholders the direct owners of shares in UPDC. UACN will also unbundle the shares of UPDC REIT allocated to it under the UPDC-UPDC REIT transaction to its shareholders, thus making UACN’s shareholders direct owners in UPDC REIT.

    “On the account of UPDC’s unbundling of its interest in the UPDC REIT, post the implementation of the strategic initiatives described above, each UAC shareholder will hold shares in three entities – UAC, UPDC and the UPDC REIT benefitting from the future prospects of each,” UACN and UPDC stated in a statement on the proposed transactions.

    With the completion of the rights issue and the unbundling of UPDC and UACN, UPDC will no longer own any units in UPDC REIT, UPDC REIT will cease to be an associate of UPDC, UPDC shareholders will become direct unitholders in UPDC REIT in addition to their shares in UPDC, UPDC will cease to be a subsidiary of UACN and UACN’s shareholders will become direct shareholders in UPDC and unitholders in UPDC REIT.  UACN holds the majority equity stake of 64.16 per cent in UPDC, which in turn, holds 61.5 per cent majority stake in UPDC REITs. UPDC also owns major stake in UPDC Hotels Limited, a hotel and leisure company that owns Golden Tulip Hotels, formerly FESTAC Hotel, Lagos.

    The boards of UACN and UPDC, which had agreed on the deals, have submitted the proposed transactions for the review of the Nigerian capital market regulators. The transactions will also need to be approved by appropriately by shareholders of both companies. Market analysts expect the transactions to scale through approval processes.

     

    Value creation

    According to the parties, the unbundling is a win-win strategy for the three companies. UACN stated that it decided on the unbundling after weighing the long-term opportunities in the Nigerian real estate sector against the fundamental differences between the cashflow profile and capital needs of UPDC and other entities in the UACN’s portfolio.

    Recapitalisation of UPDC will reduce finance costs and achieve sustainable capital structure for the company while unbundling will enable the company to function in a more efficient and focused manner and reduce operational complexities. Unbundling the UPDC REIT will create additional liquidity in the REIT, which will lead to improved price discovery while UPDC’s shareholders will get immediate benefits from the UPDC REIT, a profitable and dividend-paying entity.

    Already, there are ongoing efforts to strengthen the board and management of UPDC to ensure that the recapitalised and standalone UPDC retains its leadership position in the Nigerian real estate sector. Meanwhile, operations, contracts and legal obligations of UACN and UPDC will continue as normal and in line with the Memorandum of Articles and Association of the  companies.

    The unbundling is a major step for UACN, which has struggled to cope with the fast-paced market changes. UACN had started business in Nigeria in 1879, well ahead of the 1914 amalgamation that created Nigeria. It over the years amassed a vast structure, occupying unique position as the only group with six publicly quoted companies. The UACN Group consists of several active companies spreading through manufacturing, services, logistics and real estate sectors of the Nigerian economy. Besides UPDC and UPDC REIT, other companies included CAP Plc-the largest and most profitable chemical and paints company in Nigeria, Livestock Feeds Plc and Portland Paints and Products Nigeria Plc. UACN had acquired Livestock Feeds and Portland Paints in 2013. Other members of the group included UAC Foods Limited, UAC Restaurants Limited, MDS Logistics Plc, Warm Spring Waters Nigeria Limited, Grand Cereals Limited, and Unico CPFA Limited.

    The unbundling is obviously part of the ongoing restructuring plan aimed at streamlining the conglomerate into a more efficient holding company. With the real estate in long-running depression and the peculiarity of its capital requirement and structure, UPDC has been a weak point over the years, posting losses for the past three consecutive years. Audited reports and accounts of UPDC showed that turnover had dropped consecutively from N6.34 billion in 2016 to N3.98 billion in 2017 and N2.30 billion in 2018. Net loss had widened from N1.52 billion in 2016 to N2.93 billion in 2017 and N15.04 billion in 2018. UPDC’s last dividend payment was for the 2014 business year, thus it has not contributed to the UACN Group’s dividend payment over the past four years. As an indicator of the depreciation in shareholders’ value, net assets per share had dropped consecutively from N21 in 2014 to N6.90 in 2018. Also, UPDC’s share price had depreciated from N9.50 by the close of 2014 business year to N1.91 by the close of 2018 business year. UPDC’s external auditors, Ernst & Young, had in its latest audit of the real estate company drew attention to the fact that a “material uncertainty exist which may cast significant doubt” on the going concern of the company. The auditors noted the running losses and the continuing surplus of current liabilities over current assets. UACN has been the financial backbone of UPDC, providing loans and equity supports to keep the real estate company running.

     

    Deleveraging assets

    Financing structure has been a major drawback for UPDC. Net finance costs stood at N5.03 billion and N4.76 billion in 2017 and last year. With the crash in the stock market and inability of most companies to raise new equity capital through public offerings, UPDC has been unable to raise the quantum of ‘patient’ capital required for its long-termed real estate business. The unyielding depression in the real estate sector with the attendant parlous performance of UPDC compounded the situation, leaving the many rights issue floated to recapitalise the company undersubscribed.

    UACN had kept faith, picking up its rights in full. It was through the resultant dilutions that UACN’s majority shareholding rose beyond 60 per cent. Chairman, UACN Property Development Company (UPDC) Plc, Mr Babatunde Kasali, said the company has continued to work on its deleveraging strategy to reduce its debt portfolio. He noted that the company’s borrowing cost has reduced from an average of 23.5 per cent in 2017 to 18.2 per cent in 2018, although this still remains a high cost of finance for a real estate business. He added that the company successfully reduced overall level of interest-bearing debts from N19.2 billion in 2017 to N18.5 billion in 2018 while lower debt levels and more favourable credit terms helped to reduce finance cost from N5.5 billion in 2017 to N4.8 billion in 2018. The N16 billion rights issue that is a component of the unbundling plan is expected to the leverage status and put the real estate company on a stable financing position going forward. With current share price significant below net assets per share and the vast assets held by UPDC, most analysts appeared to see value in the unbundling. UPDC has major investments in not less than 10 joint ventures which hold vast real estate assets.

    On its part, UACN seeks to consolidate its profitability by streamlining operations, unearth values in subsidiaries and focus on profitable businesses. UACN Plc Chairman, Mr. Dan Agbor, said one of the key elements of the strategic plan of the conglomerate is to operate as a much simpler and leaner holding company, with the main focus being on the subsidiary companies.

    “We are strengthening and empowering the management and boards of subsidiary companies to drive value creation and increasing their accountability for delivering ambitious plans. Towards this end, we are carrying out a comprehensive review of our organisational structure to ensure increased autonomy and effectiveness of operating subsidiary companies,” Agbor said.

     

    A glimpse

    There are early gains already from the restructuring. Key extracts of the interim report and accounts for the period ended June 30, 2019 showed considerable growths in sales and profitability. Group turnover rose to N41.57 billion in first half of the year as against N36.98 billion recorded in comparable period of last year. Profit before tax rose by 61.4 per cent from N2.10 billion to N3.39 billion while profit after tax increased to N2.43 billion in first half 2019 compared with N1.51 billion in corresponding period of last year. UACN had appointed Mr. Folasope Aiyesimoju as the Group Managing Director of the company with effect from April 1, 2019 to lead a new generation of management. In one of the early value extraction under Aiyesimoju, UACN recently announced of agreement to sell 8.0 per cent of its equity stake in MDS Logistics Limited to co-investor, Imperial Logistics, in a deal that will increase Imperial Logistics’ equity stake from 49 per cent to 57 per cent. The transaction valued MDS at $40 million, about N12.24 billion. In consideration for the additional 8.0 per cent equity stake, Imperial Logistics will transfer selected profitable contracts to MDS and pay $2.4 million in cash. The transaction is however still subject to relevant regulatory approvals.

    Aiyesimoju described the MDS transaction as an important milestone for the conglomerate noting that the deal was in line with the group’s strategy of working closely with partners in empowering best-in-class management teams. According to him, since the commencement of the partnership in 2013, the group has been impressed by Imperial Logistics’ operational excellence in warehousing, distribution and transport.

    Investors may also be considering historic value creation from similar unbundling in the market. In the aftermath of the decision of Central Bank of Nigeria (CBN) directing  commercial banks to either adopt a holding company structure or sell their non-bank subsidiaries, United Bank for Africa (UBA) Plc had decided to unbundle its non-bank subsidiaries through direct transfer of shares to shareholders. These resulted in the creation of United Capital Plc and Africa Prudential Registrars, two publicly-quoted companies and Afriland Properties Plc, three companies that have delivered significant values to shareholders since creation. Shareholders of UBA were allotted shares in the three companies, in what the market termed a three-for-one deal.

    As the UACN-UPDC-UPDC REIT unbundling processes move through approval and implementation stages, bargain-hunters will surely keep up the bids to take positions in the emerging companies.

  • Toyin Abraham at loggerheads with Lizzy Anjorin

    Following an allegation by actress Lizzy Anjorin against fellow actress Toyin Abraham, of having a blog which posted a negative story on her, new mother Toyin Abraham has decided to make the case legal.

    On Monday, the actress said Abraham posted the notification letter from a law firm; Legal House Solicitors, addressed to Ms Anjorin and sent to her office at Ikota Shopping Complex, Ikoyi, stating that they are representing Toyin Abraham formerly known as Toyin Aimahku, and will be addressing the case.

    The heading of the letter is: “Cease and Desist Notice-Defamatory Statement Concerning Toyin Abraham.”

    The actress stated that she would no longer address the issue, saying it would be handled by her lawyers.

    “Silence is not golden,” she wrote, regarding her post.

    “Rather than wrestle with a pig, it might be ideal to let the pig know that it belongs in the pen. No longer speaking on this, my management team and attorneys are taking this up.”

    Read Also: Toyin Abraham gets 1m as birthday gift from fans

    Over the weekend, Toyin Abraham said: “It has come as a rude shock that some upstarts masquerading as Nollywood actors keep dragging my name into unnecessary drama whenever they are trolled online. I’ve had my own share of online trolling but not for once did I drag the names of any actor or celebrities into the fray even when we don’t have cordial relationships.

    “Today, an actress directly mentioned my name as the owner or informant of an Instagram blog, and libeled my person and reputation by implying I planted or published some negative news about her. Why she mentioned my name, I can’t say. What she’s trying to achieve, I can’t fathom. Long ago, I bade bye bye to unnecessary drama and petty online/offline squabbles and so I won’t descend to her gutter level.”

    Her so-called “evidence” of my involvement was a comment I left on the page of a fan she suspected is behind the story. How I became connected to the story beats me. This level of cluelessness is mind-boggling. For the umpteenth time, stop holding me responsible for the actions or inactions of other people as they concern you. Whether they are my fans or not, I don’t regulate or determine their behaviour or conduct. Nobody holds Beyonce responsible for what her teeming fans, “Beyhives” do.

    “Anyways, I have instructed my lawyers to take up this matter and she will be hearing from them by Monday.  It’s time to put a stop to online bullying and bad behaviour in line with the rule of law.”

  • Nike Gallery hosts Priceless

    Priceless, a solo exhibition by award-winning visual artist Yusuf Durodola, will open on September 21 at Nike Art Gallery, Lekki-Epe Expressway, Lagos. Priceless, which will run till September 27 is a visual chronicle that probes our nation’s disagreeable scenes affecting our core value.

    “My art probes deeply into matters of concern threatening human existence, it aspires to reactivate the people’s mind towards positive actions of germane development,” Durodola said.

    It is a project that is centred on social engagement and intervention. It highlights individual responsibility and dispositions to human value. He recalled how the exhibition was inspired by his interaction with children as an arts teacher. He said: “Children are pure spirited and hold no negative energy and if adults can take a cue from this, it will greatly heal our ailing world.”

    The show is in three stages – performance, solo exhibition and community service engagement. Durodola plans to donate 18 art works to the physically-challenged home, having worked with them in the past.

  • Grooming start-ups for Africa

    A non-profit organisation, Mass Challenge, and University Mohammed VI Polytechnique (UM6P) in Ben Guerir, Morocco, have launched the Impulse Accelerator Programme to support start-ups in Nigeria. It held a road show in Lagos to identify start-ups with solutions for problems across Africa. DANIEL ESSIET writes

    FarmCrowdy, ThriveAgric, and Verdant AgriTech are some of the startups using digital agriculture to empower farmers.

    But they are yet to reach many small-scale farmers because they are limited to their communities of operation.

    Despite this problem, digital solutions are being deployed in solving decade-long problems and making agriculture exciting for youths who are being lured by the use of mobile apps and other technologies.

    While several agrifood startups are being established, experts say there is a need to see more functional digital and bio-farmtechs feature on the list of agri-food startups.

    To tackle this problem, a firm Impulse, has held its Accelerator Programme in Lagos to hone the skills of agritech start-ups owners.

    Its Director Adnane Alaoui Soulimani said Impulse was developed by Mohammed VI Polytechnic University (UM6P) in partnership with MassChallenge, and OCP Group and its subsidiary, OCP Africa  to support the selected startups and to help them forge lasting partnerships.

    He said the 12-week programme targets startups in agritech, biotech, mining technologies and materials science and nanotechnology.

    Soulimani, who urged start-ups to register for the programme, said it  would end in October.

    Read Also: Keystone Bank empowers youths, business start-ups

    He said the list of finalists would be announced in November, while the accelerator programme would start on January 15, 2020.

    He said the 10 startups that would be selected to participate in an intensive 12-week acceleration programme in Morocco would receive mentoring and coaching by OCP experts, UM6P professors and doctoral students, mentors of the MassChallenge network and the entrepreneurial ecosystem.

    He said the winners would be taught good agribusiness strategies.

    A prize of $250,000 is  to be shared among the winners. Winners will receive the opportunity to pitch and network with executives. They will also receive valuable business consultation services, including go-to-market advice.

    Soulimani said the team would  embark on a road show in Cote d’Ivoire and Ethiopia to showcase the programme to start-ups and entrepreneurs in those countries.

    The accelerator is hunting for firms with impact focus. Its mandate is broad, sector-wise. Geographically, however, the firm is committed to African startups.  Agri-food tech is not Impulse’s only focus, but it is also key, because Soulimani is committed to it.

    He desires to see startups who could come up with good business models, a developed minimum viable product (MVP), targeted customers, and prepared to get funding for the next stage of their development.

    To this end, the accelerator will offer a more tailored programme  to later stage firms to help them grow and to gain access to new markets, new customers and new investors.

    It aims to have in its platform  agritech startup solutions with an eye for rolling out across the African continent.

    Soulimani explained that Impulse was the first step toward the creation of a bigger sector-agnostic accelerator called “MassChallenge Africa”, that would accelerate yearly between 50 and 100 start-ups working on African challenges.

    “Start-ups that will be selected for our programme will benefit from the mentorship of senior managers and business experts from OCP Group, one of the world’s leaders in the fields of phosphate and phosphate-based fertiliser.

    “Start-ups will also have access to potential business opportunities through OCP Group, UM6P and their ecosystems,” Soulimani added.

    A speaker, Ayodele Balogun, noted that until recently, much attention had not been paid to sustainable agriculture in the country.

    “Effectively, we lose foreign exchange (forex) because we are not able to produce enough and process enough to satisfy ourselves,” he said.

    The OCP Country Manager, Caleb Usoh highlighted the efforts of the Federal Government to harness the potential of the sector and to address the trade deficit that existed in the country.

    Usoh said: “OCP Africa is committed to supporting the Nigerian government’s effort towards the development of the agriculture sector.

    “In 2016, OCP Africa entered into a partnership with the Fertiliser Producers and Suppliers Association of Nigeria (FESPAN) under the `Presidential Fertiliser Initiative’, with the support of Nigeria Investment Sovereign Authority (NSIA).

    “The partnership encompasses the entire agricultural chain: creating fertiliser solutions, making fertiliser available on the local market at competitive prices, and fostering mentorship for farmers.

    “Thanks to the partnership with FESPAN, local investments in new fertiliser blending plants have grown from nine facories in 2016 to 25 within a span of three years creating a number of direct and indirect employment opportunities for Nigeria’s youths and reducing the prices of fertilisers for farmers.”

    According to him, OCP plays an important role in feeding a growing global population, by providing essential elements for soil fertility and plants growth.

    He said OCP provides a wide- range of well adapted fertiliser products to enhance soil, increase agricultural yields, and help feeding the planet in a sustainable and affordable way.

    A start-up specialist, Mr. Dennis Goji, advised start-ups to familiarise themselves with government socio-economic policies to be firmly grounded in their chosen trade.

    Goje said the consistency of government policies on agriculture since 2011 had made possible some of their success stories. Therefore, start-ups and commercial farmers could understand the direction of government.

    Contributing, Mr. Adunoye Olubiyi, an agronomist, acknowledged the impact of the agritech initiatives and advised farmers to be more deliberate in engaging the processes.

    “One of the things we have benefited from Hello Tractor is that we have been able to scale up production without having to worry about money to make things available.

    “Last year, we did some things in the range of 30 hectares in terms of production.

    “However, this year, we have been able to do about 120 hectares because of the support from Hello Tractor. For next year, we are projecting 200 hectares,” Olubiyi said.

  • Lagos to create a one-stop shop for film makers, boost entertainment

    Lagos State government   is to boost the entertainment industry by creating a one-stop shop for film makers in the state.

    It said as part of its effort to boost the film and entertainment industry, film makers would also enjoy support from conceptualisation of ideas to the final production.

    The Lagos State Commissioner for Tourism, Arts and Culture, Mrs. Shuli Adebolu, gave the assurance at the graduation of the pioneer MultiChoice Talent Factory Scholars drawn from across West Africa, held at the Lagos Business School, Ajah, at the weekend.

    Mrs. Adebolu explained that the state was blessed with beautiful locations for film production and efforts were on to ensure the state has a one-stop centre that would ensure quality and timely  production of films that meet domestic and international standards, which would grow the industry and also attract foreign investors.

    Read Also: British Council partners LSETF for aspiring film makers

    She reiterated the commitment of the administration to the tourism and entertainment sector by ensuring that the state becomes a preferred destination for tourists and an entertainment hub on the continent.

    Mrs. Adebolu said: “Lagos is the second largest in the amount of films produced on the continent globally. The state is, therefore, set to open her doors by creating an enabling environment, regulations and solid foundations that would make the sector a flourishing one that could successfully rival the likes of Hollywood and Bollywood entertainment industries.”

    Commending MultiChoice for its Talent Factory initiative, she restated the readiness of Lagos State government to collaborate with the private sector and key stakeholders for the development of the industry to create jobs and make it a source of revenue for the state.

  • Photography outfit unveils customer’s scheme

    A photography outfit, Pixels Photography, has unveiled a loyalty scheme aimed at rewarding its teeming customers across the country.

    According to the Chief Executive Officer of Pixels Photography, Ms Omolaraeni Olaosebikan, the move is in line with its vision of satisfying the needs of people in the photography industry with a mind of bringing a new dimension to the way the business is conducted.

    To mark its 16th anniversary, Pixels, which was founded in 2003 in Ile-Ife, Osun State, has also unveiled a Wifi value for customers to enjoy unlimited Internet experience while at the company’s premises.

    She told journalists that the company would be offering a unique loyalty card for patronage which offers customers discount on business.

    Read Also: Social media, photography and African political office holders

    “For us at Pixels Digital Photography, it’s about creating value for our customers. We are very passionate about what we do. Every customer that has walked through our door can attest to this. We deliver photographs that would not only keep the memory of the events but will also capture the savour, beauty and royalty of the activities, environment and guests.

    “With the customer loyalty card, when customer transact business to the tune of NGN10,000, he or she is entitled to the card. The more they shoot, the more the point, you earn yourself which is 5% of your spend. This accumulates and when it reaches the worth of NGN20,000 we announce to you and you make a decision on what you want to enjoy with your bonus”, she said.

  • Netanyahu in tough fight as Israel holds election

    Israel’s Prime Minister Benjamin Netanyahu is fighting to hold on to power, as voters go to the polls in one of its closest election races in years.

    He called the snap election after failing to form a governing coalition in the wake of an election in April.

    Polls forecast his right-wing Likud party to tie with its main challenger, the centrist Blue and White party led by former military chief Benny Gantz.

    Smaller parties could, therefore, have a big say in the final outcome.

    Netanyahu lashed out at Facebook (FB.O) yesterday after the social network blocked a “chatbot” from his right-wing Likud party’s account for violating election day rules.

    Read Also: Israeli combat aircraft hits Hamas sites in Gaza

    “They took a 100 kg hammer and brought it down on a fly, because it is a Likud fly,” Netanyahu said in a video posted on social media.

    “They shut down our means of communication with our voters.”

    Israel’s leading YNET news website said the chatbot, a type of automated software that is able to simulate a conversation with a user, had posted results from an election poll yesterday while Israelis were out voting, a contravention of election rules.

    The problematic posts were apparently taken down and no longer appeared on Netanyahu’s Facebook page.

    Negotiations on the formation of a new coalition are expected to start as soon as voting ends at 22:00 (19:00 GMT) and exit polls are published.

    Likud and Blue and White came away with 35 seats each in the 120-seat Knesset.

    Netanyahu declared victory and it appeared that he would be able to secure a majority with the backing of smaller right-wing and religious parties. But after several chaotic weeks, the attempted coalition-building collapsed into recriminations.

    On the surface was a dispute over Israel’s secular versus its religious character, says the BBC’s Tom Bateman in Jerusalem.