Aurora Tech Award, a worldwide prize for female founders of IT and Tech Startups, and inDrive’s empowering opportunity for female startup founders in tech, took to the Lagos Startup Week stage on Thursday, July 11 2024 to recognize five powerful female founders and finalists of its recently concluded annual global prize.

The inclusive organization bridging the funding gap for female founders in tech by breaking down barriers and promoting equality in tech entrepreneurship received 649 applications from female participants across the globe. Following a thorough assessment period, Nigerian entrepreneur, Folake Owodunni, CEO & Founder of Emergency Response Africa, who sent in her application as well, topped her peers to receive the prized funding of $30,000. In addition to the cash prizes, the Aurora Tech Award also provides winners with mentorship opportunities, access to a global network of investors, and media exposure to help scale their ventures.

The Aurora Tech Award in partnership with the Women Who Launch Track of the Lagos Startup Week, sponsored a fire chat session featuring Somachi Chris-Asoluka, CEO, The Tony Elumelu Foundation, and a panel session themed: ‘Aurora Tech Award: Female Founded, Female Funded‘ featuring Mercy Akanno, Head, TEDx Lagos (Moderator) and the finalists of the Aurora Tech Award 2024 – Eniola Edun, Co-founder, Gamr; Ifeoma Nwobu, Co-founder/COO, Sendstack; Jumoke Dada, Founder, Talieo; Damilola Olokesusi, Co-founder/CEO, Shuttlers; and Olapeju Umah, Founder/ CEO, MyFoodAngels.

During the session, Nwobu, Co-founder/COO, Sendstack said “Aurora Tech Award is doing a fantastic job through mentoring, funding and award. You would not find too many gender-based organizations in Nigeria such as Aurora Tech Award that provide a platform like this.”

In a statement to the media, Nwobu mentioned that the sponsored panel was very insightful and allowed her to learn from her fellow founders.

“The session was full of insight with the young women founders sharing practical experiences on starting up a business. I have learned a few relevant tips from my co-speakers today and I look forward to this kind of session powered by Aurora Tech Award and other related organizations,” she added.

During the session, panelists shared valuable startup experiences, challenges in the startup ecosystem in Nigeria, and solutions therein. The session also highlighted these women’s journeys, helping attendees to learn from their successes, failures, and better understand the current business and funding landscape for female tech founders in Nigeria and across the globe.

Nadeen Hossam, Partnerships Manager, EMEA, Aurora Tech Award spoke about the need for representation in the funding strategy for startups. Speaking to how Aurora Tech Award promotes this representation, she said, “We believe in breaking down barriers and promoting equality in tech entrepreneurship. Women entrepreneurs in IT face challenges like investor bias, stereotypes, and a lack of role models, limiting their representation.”

“According to Crunchbase, only 2.3% of venture funding goes to women-led startups. And we’re here to change that! Our mission is to discover hidden gems among startups led by women, providing the support they need to shine brightly. Join us in setting new, fair standards in the venture world,” she said.

“If you are a woman founder with a tech startup, regardless of the specific industry, and have a functional prototype or an early version of your product, the Aurora Tech Award is just for you. We are interested in your company, your journey, and the challenges you’ve overcome,” she added.

Olumide Olayinka, Co-founder, Prime Startups, the governing corporate company driving Lagos Startup Week in the last nine years said that the firm’s approach to female participation in the 2024 Lagos Startup Week took a new turn.

“This year, we not only chose a theme that resonates strongly with our relentless and resilient female founders, but we also partnered with Aurora Tech Award to launch a celebratory and recognitory session for female founders, within our Women Who Launch track. It was indeed great to partner for such an impactful session, and we are committed to more partnerships that place our female founders in the spotlight. Our female founders are deserving of more. These women scale their businesses with limited access to funding and support but keep at it anyway. They show up and show out always, and the Lagos Startup Week will continue to open its doors to them at all times.”

Unveiling the 2024 winners at the Lagos Startup Week, Aurora Tech Award shared more details about the female-founded startups that won the first, second, and third prizes. with a Nigerian woman and Co-founder, Emergency Response Africa, Nigeria, Folake Owodunni emerging as the 2024 winner with the first prize worth $30,000.

Folake Owodunni, Co-founder, Emergency Response Africa, Nigeria, won the first prize for her organization’s sustainable and scalable solution providing emergency medical services. Emergency Response Africa is a health tech company that combines emergency response training with intelligent dispatch, communications technology, and alternative medical transportation.

Hannah Töpler, Intrare, Mexico, and Sarah Phiri-Molema, Deaftronics (Pty) Ltd, Botswana emerged second and third winners respectively. Intrare emerged second for its inclusive strategy focused on championing efforts for fair employment for all diverse groups. Intrare is a social tech that builds proprietary AI to eliminate bias from recruitment. Intrare mission is to match millions of refugees, marginalized women, LGBTIQ+, and other diverse talents with fair jobs to break the poverty cycle.

Deaftronics (Pty) Ltd, Botswana came in third place for its solar-powered hearing aid for children and people from unprivileged communities. Deaftronics (Pty) Ltd developed the first rechargeable hearing aid battery, which lasts for 2-3 years and can be used in 80% of hearing aids on the market today. It is solar-powered and can be charged via the sun, household light, or a cell phone plug.

The gender gap in the African tech ecosystem manifests in various forms, including leadership representation, funding disparities, and pay gaps. To combat this gender bias, Aurora Tech Award partnered with Lagos Startup Week which has been dedicated to fostering a community for African female innovators over the past nine years, providing them with opportunities to grow, learn, and connect in the tech space, to launch the award, the first of its kind in Nigeria.

As the accomplishments of these remarkable women are celebrated, there is also anticipation for supporting the next generation of female tech entrepreneurs. Female founders with tech startups are encouraged to look out for the Aurora Tech Award applications opening in September 2024. This presents an opportunity for them to gain the recognition and support they deserve. Stay tuned and prepare to showcase their innovations to the world!

In the competitive market of seasoning cubes, where consumers are on a quest for quality and authenticity, Terra Gold has emerged as a standout choice among consumers thanks to its innovative approach and exceptional quality. This seasoning cube has been setting new standards in the culinary world by offering unmatched versatility, consistent taste, and excellent value for money.

The trust and satisfaction of consumers are evident from the growing popularity of Terra Gold. Users consistently praise the cube for its rich and consistent taste, which elevates the culinary experience of every meal. The campaign “One Cube, Endless Possibilities” reflects the brand’s commitment to providing a superior seasoning solution that meets the diverse needs of Nigerian kitchens.

Osho Glory, a university student shares her positive experience, she noted that as a student who loves to cook, she sometimes couldn’t afford all the ingredients, but with Terra Gold Cube, she gets the flavour, taste, and aroma she desires. It has provided her unmatched convenience, without compromising on taste.

Mrs Aisha Ibrahim says “Terra Gold is like a stone you use to kill two birds. When I cook my family’s local soups and international meals with Terra Gold Cube, the flavour, and aroma blend nicely with the natural ingredients I used for the meal.” She continues very excited, “Regardless of what you are cooking, Terra Gold Cube makes its taste and aroma so much better”. This endorsement underscores Terra Gold’s appeal to a broad consumer base seeking a reliable and flexible seasoning option.

Probal Bhattacharya, Chief Marketing Officer, TGI Group shared, “We understand how dynamic the Nigerian Culinary space is and our role is to empower consumers with the right seasoning for all their dishes, whether local or international. Food is an important part of everyday life, and we aim to ensure flavours are brought to life one dish at a time”.

Terra Gold Cube has redefined the art of seasoning with its innovative approach and commitment to quality. Its ability to enhance a wide range of dishes without dominating their natural flavours makes it a top choice for consumers. As Terra Gold continues to inspire culinary creativity across Nigeria, it solidifies its position as the gold standard in seasoning cubes.

TGI Distri, a subsidiary of TGI Group is a consumer-focused distribution company driven by innovation to meet the evolving market and consumer needs in Nigeria. TGI Distri is vast in the innovation of new products, marketing, managing sales, and distribution of Food & Non-food products ranging from Big Bull Rice, Golden Terra Soya Oil, Terra Seasoning Cube, and Renew Starch.

With a well-structured supply chain infrastructure across Nigeria, TGI Distri is committed to being the distribution company of choice.

In line with its custom of rewarding loyalty, Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to launch the “UBA Legacy Promo” as part of activities to mark its 75th anniversary.

This landmark campaign has been specially designed by the bank to celebrate UBA’s rich legacy spanning over 75 years, as well as the bank’s longstanding commitment towards rewarding its loyal customers in a grand style.

The UBA Legacy Promo which will run for a period of six months beginning from July 2024, will see the bank doling out of N200m in cash prizes as well as other consolation prizes to its teeming customers from various categories.

This promo is open to several categories of account holders including Bumper Account holders, Savings account, Kiddies & Teens Account holders as well as Nextgen account holders.

Specifically, 75 customers will win the star prize of N1 million each during the promo, while 75 other customers will each win N500,000. 75 customers will win N250,000 each, while another 75 will each win N100,000.

In the promo, 75 Kiddies, Teens, and NextGen customers will receive N200,000 in scholarship rewards and N180,000 in pocket money rewards respectively, just as many more customers will win N10,000 monthly cash prizes. Other consolation prizes include shopping vouchers, loaded prepaid cards, and other exciting rewards.

To qualify for the promo, Bumper customers are expected to have a minimum of N 5,000 operating balance and multiples of N5,000 will give the customers a higher chance of winning. Customers under the savings category are expected to save a minimum of N 100,000 monthly, while multiples of N100,000 will give them more chances of winning.

Kiddies & Teens Account holders will however need to maintain a standing instruction of N10,000 monthly to qualify for the scholarship reward while NextGen customers are expected to maintain a minimum of N5,000 and get a debit card to qualify for the N180,000 pocket money reward.

UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, expressed his excitement about the promo and said the bank is always excited to reward loyalty while encouraging a savings culture amongst its customers.

He said, “The UBA Legacy Promo is a testament to our enduring commitment to our customers. For 75 years, UBA has been at the forefront of banking innovation, and this promo is another way we are showing our appreciation and continuing to build on our legacy of trust and excellence.”

UBA’s Group Head, Marketing & Corporate Communications, Alero Ladipo, who emphasised the significance of the campaign, said, “As we mark this monumental anniversary, the UBA Legacy Promo not only celebrates our rich history but also reinforces our dedication to enriching the lives of our customers. We are thrilled to offer these fantastic rewards as a thank you for their unwavering loyalty.”

She invited customers to participate in the exciting promo and take advantage of the incredible rewards on offer.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

Showmax has announced the return of its exclusive BBNaija talk show, The Buzz, which will be hosted by media personality Toke Makinwa.

The Buzz is scheduled to premiere on Thursday, 1 August 2024, and will feature new episodes every Thursday, in addition to the live, 24/7 BBNaija Season 9 show, exclusively available to Showmax customers in Africa.

On The Buzz, Toke Makinwa, along with celebrity guests and top BBNaija show commentators, will analyze all the moments of the current season of the reality show, offering their candid opinions and predictions in a talk session that leaves nothing unsaid. The show will also include never-before-seen footage from the House and various engaging segments.

Expressing her excitement about returning as the host for a new season, the award-winning media personality stated, “Get ready for a rollercoaster ride of juicy gossip, sizzling drama, and unfiltered fun! We will delve deep into the BBNaija house, reveal secrets, and serve up all the tea you desire. This season is expected to be twice as wild, and I eagerly anticipate everyone joining the party!”

Big Brother Naija Season 9 and The Buzz aim to offer unparalleled entertainment experiences for audiences throughout Africa on Showmax. With the live 24/7 streaming on Showmax, fans will stay updated on every moment of the action.

According to Dr. Busola Tejumola, Executive Head of Content and Channels, West Africa at MultiChoice, “Showmax is the hub of top-tier reality shows in Africa, so it’s fitting that we are bringing back The Buzz with the fantastic host, Toke Makinwa.”

She added, “We are elevating the excitement of this BBNaija season for fans, ensuring they have a front-row view of all the show’s renowned drama from the convenience of their mobile devices.”

The Buzz will premiere on Thursday, 1 August 2024, with new episodes every Thursday, exclusively on Showmax.

For more information about The Buzz, visit Showmax.

The organisers of Africa’s biggest reality TV show, Big Brother Naija, have confirmed that the show will make its return for the 9th season on Sunday, July 28, 2024. This season will bring a new twist as contestants will enter the game in pairs for the first time ever, creating the stage for unprecedented alliances and thrilling competition. The theme for the season will be revealed during the premiere.

The upcoming season aims to breathe new life into the show, offering audiences a fresh perspective on the competition. With each pair of housemates bringing unique dynamics to the table, viewers can anticipate intense rivalries and unexpected friendships to develop.

A diverse lineup of contestant pairs has been selected to take part in the 71-day season, with a total of N100 million in cash and prizes up for grabs.

Dr. Busola Tejumola, Executive Head of Content & Channels, West Africa at MultiChoice, conveyed excitement for the forthcoming season, highlighting the show’s dedication to providing unparalleled entertainment.

Dr. Tejumola shared some insights about Big Brother Naija Season 9 during a media briefing, stating, “We are thrilled to present a fresh season of Big Brother Naija. The buzz on social media and the anticipation for this ninth season have been overwhelming. The theme for this season will be unveiled at the premiere as the pairs of housemates enter the house. This innovative format promises to bring new dynamics and unforgettable entertainment.”

She added, “We are delighted to have Guinness as our gold sponsor for this season. Our other sponsors include Pepsi, Indomie, Airtel, Tecno, Zandas, Arla, Golden Penny, Gracias Planta, Amatem Softgel, Nexus, Travel Beta, and Innoson Motors. Get ready for an exciting journey with Big Brother Naija Season 9!”

The season premiere is scheduled for Sunday, July 28, 2024, and viewers can catch all the drama and excitement on DStv Channel 198 and GOtv Channel 29. The audience is encouraged to join the conversation by using the hashtag #BBNaijaS9 on social media.

For more information about Big Brother Naija season 9, visit https://www.dstv.com/africamagic/en-ng/show/big-brother-naija.

The Enterprise Development Centre (EDC) has announced a strategic partnership with International Energy Insurance (IEI). This collaboration focuses on developing a comprehensive curriculum and providing specialized training on Risk Management and Insurance, as well as creating detailed case studies for real-world application.

The partnership was announced at the EDC office in Ajah Lagos recently with commissioning of EDC Studio.

Additionally, IEI sponsored the rebranding of EDC studio, enhancing its resources to better serve and enhance our facilities for the benefit of SMEs. This newly upgraded studio will serve as a hub for interactive learning and professional development.

According to Director, Programme and Partnership Enterprise Development Centre, Pan-Atlantic University, Dr. Olawale Anifowose, “This partnership signifies a significant step towards empowering SMEs with essential knowledge and tools to navigate risks and secure their future. EDC and IEI are committed to fostering a robust support system for small and medium enterprises through this innovative educational initiative.”

Speaking further, Dr. Anifowose said, “I think this is a very welcome partnership and initiative with International Energy Insurance. As far back as 4 years ago, when we had the ENDSAR protest in Lagos states, I believe that that period was an eye-opener for many businesses because during those protest, many businesses were destroyed and the data is out there that showed that a large number of those businesses that had their stores, properties, and business destroyed were not insured.”

 “It was that period that the Enterprise Development Center took it upon itself to ensure that we deepen our relationship with an insurance company that has a clear product and clear strategy for how small businesses can welcome and start to embrace risk management strategies that can help them to get back on their feet whenever there is a mishap.”

Enlightening some prospective SMEs, Managing Director/CEO, International Energy Insurance (IEI), Mr. Olasupo Sogelola, said study has shown that over 59.1 million Nigerians work in small and medium enterprises sand micro, small and medium enterprises organisations in the country and over 41 million SMEs and MSMEs have been registered, therefore, it is a viable sector to look after.

‘Apart from providing a dedicated insurance product and risk management strategies for these SMEs and MSMEs, the partnership also extended to the Clear Pay Microfinance Bank, our sister organisation providing funding support to them.

“We are, indeed, very excited by the opportunity this partnership has thrown up because several SMEs would not be bothering themselves about the risks that are associated with running day-to-day operations in Nigeria.”

MTN Group welcomed a high-level delegation from Nigeria’s National Institute for Policy and Strategic Studies (NIPSS) at our Johannesburg headquarters on Thursday.

The visit – co-hosted by the SA-Nigeria Business Chamber, the Department of Trade, Industry and Competition and the Nigerian embassy – is part of a NIPSS study tour to explore the intersection of digital technology, youth empowerment, and sustainable job creation in Nigeria.

Amb. Alexander T. Ajayi, Chargé d’Affaires of the Nigeria High Commission, led the delegation to the meeting, which included prominent government officials, military representatives, law enforcement personnel, and leaders from professional associations. The visit further strengthened the bilateral relationship between Nigeria and South Africa, presenting a significant opportunity for learning and collaboration.

“On behalf of the Nigerian government and the National Institute for Policy and Strategic Studies, I extend our heartfelt gratitude to MTN for hosting our delegation,” said Amb. Alexander Ajayi, reflecting on the significance of the visit. “Collaboration and strategic partnerships are crucial in harnessing the full potential of digital technology for socio-economic development. By integrating efforts, we can create robust frameworks that empower our youth, drive job creation, and foster sustainable growth.”

During the visit, the delegation engaged with MTN Group and MTN Nigeria executives, led by MTN Group Executive for Consumer Business Enzo Scarcella. They also toured MTN’s Technology Innovation Lab, witnessing cutting-edge advancements firsthand.

“We are honoured to host this esteemed delegation,” said Scarcella. “The visit underscores our commitment to supporting Nigeria’s digital transformation and economic growth. By working together, we can unlock the digital economy’s full potential and create a connected future for all Nigerians.”

The theme of the week-long study tour to South Africa – “Digital Economy, Youth Empowerment, and Sustainable Job Creation in Nigeria: Issues, Challenges, and Opportunities” – encourages dialogue and identifies new areas on which to collaborate to further both nations’ objectives to build digital societies for tomorrow.

A’isha Umar Mumuni, Chief Digital Officer at MTN Nigeria, reaffirmed the company’s pledge to boost digital infrastructure, driving Nigeria’s economic growth. She highlighted MTN’s commitment to advancing Nigeria’s digital landscape through investments in connectivity, digital platforms, and expanded financial services to rural areas, solidifying the company’s dedication to the country’s digital future.

MTN – which marks its 30th anniversary in 2024 – is committed to leveraging its expertise and resources to empower Nigerian youth, bridge the digital divide, and accelerate sustainable development, fostering hope and optimism for the future.

The Group has called on African governments to consider harmonising regulations – particularly in the tech sector – to support the increased capital investment in digital infrastructure required to accelerate economic development.

MTN Group – which started operating in South Africa in 1994 – has 18 operations, 17 of which are in Africa. The Group’s biggest subsidiary by subscriber numbers is MTN Nigeria, which had almost 78 million subscribers at the end of the first quarter of 2024. MTN Nigeria began commercial operations in August 2001.

By: Philip Odiakose

The media landscape in Nigeria faces a significant challenge due to the absence of a functional Audit Bureau of Circulations (ABC). This gap critically hampers the ability of PR, advertising, and media professionals to access accurate audience reach data and insights, which are essential for evaluating the impact of media publications. The repercussions are far-reaching, affecting the credibility and effectiveness of media monitoring, and consequently, the strategic decisions of brands leveraging media to tell their stories.

The ABC was originally established more than three decades ago to monitor and verify newspaper circulation figures. Founded in 1948 as a not-for-profit, voluntary organization consisting of publishers, advertisers, and advertising agencies, ABC pioneered audit procedures to certify the circulation figures of its member publications. However, the organization became dormant due to general financial difficulties in sustaining its operations and because it revealed low circulation figures for many newspapers. This situation adversely affected newspapers’ advertising operations, leading most to default on their contributions to the ABC. As a result, reliable newspaper circulation figures are no longer available, leading to frequent disputes over claims made by newspapers regarding their circulation figures.

In today’s media environment, PR and advertising professionals require concrete facts and figures before investing in media placements. They need to know how many people are buying a publication and in which areas. The ABC provided these vital statistics every six months, based on rigid, in-depth, and impartial audits of paid circulation by independent firms of Chartered Accountants, following the Bureau’s prescribed rules and procedures. These figures were not based on opinions, claims, or guesswork but were the result of thorough audits. Unfortunately, without the ABC, this reliable data is no longer available.

The lack of broadcast ratings in Nigeria further complicates the situation. While some broadcast outlets make bold claims about their audience size, these claims are often unsupported by verifiable data. This absence of accurate audience metrics means that PR and advertising professionals are making decisions based on unsubstantiated claims, which undermines the effectiveness and accountability of their media strategies.

In Nigeria, ABC affiliation was once signified by a logo appearing at the bottom strip of the back cover page of newspapers. This was a confirmation that the publication belonged to the organization. However, there was no full disclosure about the actual number of copies being printed. The figures brandished by media managers are often inflated, sometimes as much as ten times the actual print runs. This discrepancy is especially glaring given that Nigeria had a literacy rate of approximately 77.62% in 2021, according to GlobalData.

Media managers often overlook that determining the actual print run in Nigeria is relatively straightforward. Print runs can be estimated by collating supply figures to various distribution centers nationwide since most media houses use the same distribution networks. Additionally, print run figures are typically posted on printing machines as a standard practice, and those involved in the printing process, such as wrappers, collators, and drivers, can be “enticed” to reveal these figures. The sales departments of media companies are also managed by known faces, making it possible to obtain and cross-verify these figures. Consequently, the total copies offered for sale, subscriptions, and complimentary copies can be estimated with a margin of error of less than 5%.

The absence of a functional ABC hinders brands from understanding the true value of their stories in publications. Without reliable circulation data, media monitoring and intelligence agencies struggle to provide accurate audience reach analyses, which are essential for PR and advertising professionals to demonstrate the ROI and ROO of their campaigns. This gap not only affects strategic decision-making but also undermines the credibility of the media monitoring process.

The call for reinstating the ABC in Nigeria is not just about transparency and accountability; it is about empowering PR, advertising, and media professionals with the tools they need to succeed. A functional ABC would ensure that circulation figures are based on rigorous and impartial audits, providing a solid foundation for media investment decisions. It would restore confidence in the media industry, allowing brands to optimize their strategies and achieve their communication objectives effectively.

In conclusion, the absence of a functional Audit Bureau of Circulations in Nigeria significantly hampers the ability of PR, advertising, and media professionals to access reliable audience-reach data and insights. This gap affects the perceived value of media publications, undermines strategic decision-making, and diminishes the overall effectiveness of PR and advertising campaigns. Reinstating the ABC is crucial for enhancing transparency, accountability, and data accuracy in the Nigerian media landscape. By doing so, we can ensure that PR, advertising, and media professionals are equipped with the reliable data they need to drive successful media engagements and foster a more credible and effective media industry.

Call to Action:
It is imperative that the media industry stakeholders in Nigeria come together to revive the Audit Bureau of Circulations. This collective effort will ensure the availability of accurate and reliable data, which is essential for the growth and credibility of the media industry. By advocating for the reinstatement of the ABC, we can build a more transparent and accountable media environment that benefits all stakeholders.

African Brands, an organization dedicated to promoting and supporting brand growth across the continent, will acknowledge the contributions of financial technology firms to financial inclusion in Africa at the upcoming fifth edition of the Africa Financial Technology Congress.

The event, with the theme ‘Harnessing the Power of Fintech to Accelerate Financial Inclusion in Emerging Markets’, is set to take place on July 31, 2024, in Lagos.

In a statement, the event organizers highlighted the significant growth of the African Fintech sector over the past decade, citing the existence of 1400 active fintech brands across the continent.

“The growth of the fintech ecosystem in Africa has been driven by favorable demographics, widespread mobile phone access, and low levels of internet financial inclusion across the continent,” the statement noted. “The African Financial Technology Congress 2024 aims to provide further insights into the advancements in Africa’s fintech sector.”

The congress will convene senior representatives from banks, government entities, investors, financial institutions, card providers, payment services platforms, blockchain executives, and solutions providers to collaborate on addressing key challenges and opportunities in the industry.

Additionally, the summit will include an award ceremony to recognize outstanding fintech brands that have excelled in delivering exceptional services.

“AFTC emphasizes that Fintech has the potential to drive significant economic growth in Africa, but stresses the importance of fostering a collaborative ecosystem among stakeholders,” the organizers commented.