TLcom, the Africa-focused Venture Capital firm says it has secured an additional $31million for its TIDE Africa Fund, bringing its Sub Saharan Africa (SSA)-focused fund to $71million.

The latest investment round has attracted international interest, with TLcom confirming participation from the UK based CDC, IFC as well as South Africa’s Sango Capital and Belgium’s BIO. The team now expects to make an additional five to six investments in pan-African companies over the coming 12 to 18 months from Seed to Later stage, as well as ensure capital resources for follow-on rounds for TLcom’s existing portfolio.

TIDE Africa is one of the most active funds operating in Sub Saharan Africa since its first close in 2017, with 6 companies in its portfolio, including Andela, Kobo360,  Twiga Foods, Ajua, Terragon Group and uLesson. Over the last 12 months, rounds led or co-led by TIDE Africa have raised over $150mn for African startups. Last year TLcom Capital was named Africa Technology Investor of the Year at the PE Africa Awards.

Speaking on the new investments in its TIDE Africa Fund, Maurizio Caio, Nairobi based Founder and Managing Partner at TLcom says, “It is time for Africa VC to graduate into a world-class asset class that can generate massive returns. We are excited to bring on board new strategic institutional investors, such as CDC, IFC, Sango Capital and BIO into the fund that share this view.  Attracting international investment from such renowned backers into the African VC space reflects the recognition of the work the TLcom team has already achieved in connecting some of the continent’s strongest entrepreneurs with the capital they need to scale.”

Launched in 1999, the 20+-year old Venture Capital firm currently has in excess of $200M under management across primary and secondary funds. The highly experienced team, with Senior Partner Dr. Omobola Johnson based in Nigeria, and Partners Andreata Muforo in Kenya, and Ido Sum in the UK, has consistently leveraged its on-the-ground presence in Africa to develop a broad portfolio ranging from agriculture to education, data analytics and logistics, focusing exclusively on technology-enabled services and innovation for SSA, across all stages of the venture capital cycle.

Nick O’Donohoe, Chief Executive of CDC, the UK’s publicly owned impact investor and largest investor in the Fund, said: “The investment in TLcom provides a critical foundation in our endeavour to plug the funding gap for early-stage companies and bolster entrepreneurship across Africa. CDC is excited to work with TLcom, leveraging technology and innovation to intervene in critical sectors such as education or agriculture and helping to address important consumer and business challenges.”

Omobola Johnson, TLcom’s Senior Partner and Nigeria’s former Minister of ICT concludes: “We are bullish on supporting and investing in tech-enabled African companies due to the opportunities for value generation that they provide. We are known for being an entrepreneur-led VC firm who values Africa-centric innovation, strong leadership teams and businesses who are solving real challenges in the market.”

Stanbic IBTC Bank Plc, a subsidiary of Stanbic IBTC Holdings Plc, continues to make impressive impacts in communities where it operates.

The financial institution, as part of its CSR activities, recently renovated buildings and upgraded facilities at the Community Comprehensive High School, Olambe in Ogun State.

Stanbic IBTC’s CSR activities at the school involved re-roofing and painting of the school’s buildings, provision of a standard library furnished with books, provision of Flip Chart kits as well as provision of 100 desks and chairs, amongst others.

Dr. Oladipupo Oyefuga, Head, Market Risk, Stanbic IBTC Bank Plc, led the staff of the Internal Control Department of the bank to commission the projects.

Oyefuga described Stanbic IBTC as being passionate about contributing to the growth of education in the country.

Speaking in the same vein, Head, Internal Control, Stanbic IBTC Bank Plc, Taiwo Ala, said that the bank embarked on the project as part of activities for the 2019 Internal Control Awareness Week.

He noted that the project would support effective teaching and learning of the students especially against the background that the school is a community secondary school majorly financed by community donations.

Mrs. FakunleAdenike, Principal, Community Comprehensive High School, expressed her profound gratitude to the management of Stanbic IBTC Bank Plc for renovating and upgrading facilities in the school.

She said: “This kind gesture has enlisted this school amongst the best schools in Olambe community.”

Speaking on behalf of the Ministry of Education, Science and Technology and the Ogun State Government, Mr. Lasilo Temitope, Zonal Education Officer, Ifo, noted that the recipient school, Community Comprehensive High School, Olambe can only show gratitude to Stanbic IBTC by proper utilisation of the facilities.

He further pledged that the school would use them as instruments for propelling the school into a citadel of academic excellence.

As corporates proactively implement measures to operate more responsibly and improve their Environmental, Social and Governance (ESG) performance, 2020 is shaping up to be a watershed year for sustainable finance in Africa.

The continent’s mining sector is likely to be among the adopters of sustainable finance products, particularly as mining groups and their supply chains seek to demonstrate their positive societal and environmental impacts – and secure their social licenses to operate for the long-term.

Infact, pursuing ESG policies and responding to the challenges of climate change are both seen as more important priority areas than growth for the global mining and metals sector this year, according to law firm White & Case’s latest annual survey. Less than 9% of respondents are pursuing growth as their leading goal for 2020.

While the sustainable finance market has started to gain serious traction in developed economies, it remains in its infancy in Africa, with only a few notable deals having been executed. Among those being East Africa’s first ever green bond, issued in late 2019 by Acorn Group for the purposes of developing environmentally-friendly student accommodation in Nairobi.

But a step change in activity in coming months is anticipated. Standard Bank’s sustainable finance unit has seen a surge in interest from all sectors, including mining, and that momentum is expected to continue as investors demand action and transparency and corporates globally take more responsibility for uplifting and safeguarding society. The sharp rise in interest, points to pent-up demand for sustainable finance solutions in Africa.

These unique funding solutions will play an important role in helping Africa’s mining industry to overcome common challenges – such as energy supply, water treatment, environmental protection and mine rehabilitation, impending carbon taxes, community development, health and safety, and resilient infrastructure development.

Local miners are considering funding instruments such as social bonds to develop employee housing and infrastructure, or green bonds and loans to fund water treatment plants and renewable energy units.

These projects are not nice-to-haves – they are crucial for the sustainability of the industry. Consider how dependent mines are on water – a resource that is highly sensitive to climate change – and the urgency of such initiatives become clear.

According to EY’s 2020 report on the biggest risks and opportunities across the industry, ‘license to operate’ remains the most significant risk to the sector. Reducing the industry’s carbon footprint ranks fourth, while the need for innovation – to ensure access to energy and infrastructure, and to improve water management, among other needs – also features as a prominent theme.

And as regulatory requirements tighten and investor demands increase, corporates that avoid ESG issues face material risks. KPMG warned in a 2019 report that companies that fail to act could in time find it difficult to access capital. Furthermore, their stock valuations could be affected by their lack of ESG transparency, potential regulatory action, and weaker long-term performances.

Those that do take action have an opportunity to improve their ESG ratings, which in turn can lower their cost of capital. As such, sustainable finance not only enables future-proofing initiatives, but it also makes commercial sense.

There is a growing body of evidence that a stronger commitment to ESG issues is linked to a company’s outperformance over the long term, partly because operational risks are reduced.

As enablers of trade and investment, banks have an important role in encouraging the shift, which also needs to happen in the short-term supply and trade finance arena. This is why Standard Bank has been working with the International Chamber of Commerce’s Banking Commission to develop a framework that helps banks to develop sustainable trade finance practices.

• Globally, the Sustainable Finance Market is Expanding at a Rapid Pace

According to Bloomberg data, 2019 was a record year for sustainable debt issuances, with transactions worth at least $380 billion. This is an increase of 46.2% from 2018, with European governments and corporates driving much of the demand.

Green bonds remain the most popular form of sustainable financing product, although sustainability loans, green loans, social bonds and sustainability bonds are all garnering more attention.

This comes amid an increasing focus on ESG issues, particularly as institutions move to win back the trust of the societies in which they operate.

With confidence in governments low in many instances, the public is looking to the corporate world for solutions to societal problems. Those companies that fail to position themselves accordingly – by basing their decisions on long-term sustainability rather than short-term considerations – risk falling behind.

Like its peers, the mining industry has some way to go to change perceptions about its impact on the environment. Nevertheless, it is worth noting that the sector is playing an important role in the transition to a lower-carbon economy.

Platinum group metals and other metals such as manganese, cobalt and copper, for instance, are key components of electric vehicles and batteries.

And as mines become more sustainable, their products will contribute to the development of sustainable cities.

• Sustainable Finance will Catalyse the Transformation

(L-R) Emeka Awagu, Head, Digital Commerce, Quickteller; Adedeji Layade, Product Marketing Manager, Quickteller Services; Olawande Oyewole, Assistant Brand Director, DDB and Afeye Momoh, Digital Marketing Officer, Interswitch at the reveal of the new Quickteller TVC at the Interswitch Head Office in Lagos.

When you think or dream of a broad spectrum of consumer services via one-stop digital payment platform, think of Quickteller!

Overview

In a period of few years, Quickteller has quietly revolutionised the cashless payment system in Nigeria- giving a wide variety of demographic customers the power to access services such as bills payment, funds transfer and airtime recharge without the use of cash.

In essence, the digital payment platform has empowered many Nigerians with the tool to become part of the digital age without stepping out of their homes or offices.

When the Central Bank of Nigeria (CBN) launched the cashless policy in January 2012 in Lagos, one of the key objectives was to reduce the use of cash in daily transactions and to encourage Nigerians to take advantage of digital payment options for convenience and reduction in cash-related crimes.

The CBN also followed it up with the National Financial Inclusion Strategy on October 23, 2012 to increase access to digital payment services from 21.6 percent in 2010 to 70 percent in 2020.

Today, Quickteller embodies both visions to the satisfaction of its growing clientele. For many consumers, life would be quite difficult without the payment convenience of Quickteller. Quickteller gives them the edge and peace of mind to access a broad range of vital and critical services in a matter of minutes.

This unique payment service by Quickteller becomes imperative in terms of financial inclusion given a study by EFInA (Enhancing Financial Innovation and Access) in 2008 which found that 53 percent of Nigerians are excluded from financial services.

With Quickteller, every consumer can now access quick, robust and convenient financial services to pay for goods and services without stress.

The Next Frontier

An African proverb says that when a road taken turns out good, you go a second time!

For Quickteller, the runaway success of its first half performance means it must deliver a better and greater result in the second half.

The next frontier for Quickteller is the recent launch of its two television commercials: ‘Everything is Possible.’

The essence of the two TVCs is to draw the attention of consumers that Quickteller now offers extra payment services beyond its initial traditional (basic) services.

Consumers now have access to a wider range that includes payment for event tickets, online shopping on 100 plus global stores, PayTV, electricity, toll fees and state government payments etc.

The message is clear: ‘Everything is Possible’ meaning that Quickteller enables payments to give consumers peace of mind.

The first TVC-Big Idea-paints a humorous landscape of existing and potential consumers sitting at a meeting to generate series of big ideas they consider possible under the Quickteller umbrella of payment solutions.

The croaky humour and imaginations had the actors straddling each other to tell viewers that Quickteller now has the capacity to accommodate their endless list of wild dreams and basket of needs.

Featuring well-known celebrities like Bovi (a leading Comedian), Ini Dima Okojie (well respected Nollywood actress) and Eric Omondi (a Comedian based in Kenya, who is one of the best Comedians in Africa), Big Idea depicts Quickteller as the big Elephant in the Room in terms of payment services. In a dynamic and competitive market like Nigeria, being the payment solution of choice ranks on the same pedestal as the Chosen One!

For the second TVC-Possibilities-the concept of a man cycling on a moving truck while running a transaction tells the story of accomplishing several tasks simultaneously without a drop of sweet sweat.

It is a defying stunt that tempts and tames the human spirit towards the goal of endless possibilities.

For Quickteller, the TVC gives a visual bent to the storyline: we make payments very easy and convenient no matter the situation.

In the finally analysis, Possibilities represents the new spirit of Quickteller: you can do everything you care to do!

Indeed, the two new TVCs run a mixture of humour, suspense and animated entertainment to project the expanded service options that Quickteller currently represents.

Commenting on the TVCs campaign, Mr. Olawale Akanbi, Group Head at Quickteller Marketing said:“It’s amazing to know that you can pay for almost anything on Quickteller. At Quickteller, we are committed to making all payments possible on our platform.  This is why we are continuously expanding the services available on Quickteller. From just a platform where you couldtransfer money, customers can now perform more transactions that speak to their lifestyle, businesses, passion and even their careers.”

The Wider Net

The wider net for Quickteller is the language variety. The two TVCs would have versions in Hausa, English and Pidgin English to reach more discerning consumers ready to join the Quickteller train for easy payment services.

Pan-African Solution

The presence of Eric Omondi (a Comedian based in Kenya, who is one of the best Comedians in Africa)in the cast of Big IdeaTVC amplifies the Pan-African target and projection of Quickteller. What is good for Nigerians should also be desirable for our African brothers and sisters.

For Quickteller, Nigeria is simply a stepping stone to drive a continent-wide digital payment solution that unifies Africa and Africans under one robust platform.

Welcome to Quickteller!

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, is set to host the third edition of its Youth Leadership Series. The Youth Leadership Series is an annual event which is fashioned after the Business Leadership Series, also organized annually by Stanbic IBTC.It is a platform designed to engageyoung Nigerians, thus empowering them to become the future business leaders.

The theme of this year’s event is “Techricuture – the evolution” and it is scheduled hold on Wednesday, February 12, 2020.

The speakers at the 2020 edition are Sam Ogbole, CEO and Lead Trainer at Farm lab; YewandeKazeem, Founder, Wandieville Media as well as Seyi and Seun Abolaji, Co-Owners of the Wilson’s Juice Company.

Sam Ogboleis popular for his innovative approach to agriculture through his ‘soilless farming’ revolution where crops are grown in the air. He is a forerunner of revolutionized agriculture which uses technology to boost food production. In 2018, he was recognized as one of the top 7 innovators in Africa by CNN Africa and named among the top 500 in food techpreneurs by Forward Fooding in 2019.

Popularly called The Wilson Brothers, Seyi and Seun Abolaji are co-owners of The Wilson’s Juice Company, manufacturers of pure natural fresh juice. Founded in 2016, the company now successfully distributes its product consumed across the country and has also gained attention from both local and international media.

Yewande Kazeem, a 2018 fellow of the Cornell Alliance for Science and graduate of science from the University of Oklahoma, is the owner of Wandieville Media, a communication and educative media company that focuses on Global Development Projects in Africa including Agriculture, Nutrition, Women and Community Development. She is passionate about impacting small scale farmers through research and technology.

The event presents an opportunity for the attendees to learn more about opportunities in the agriculture value chain, driven by technology.

If you are like the average Nigerian youth who is just starting out and needs an account that allows you to start from scratch and grow your savings while giving you access to your money 24/7, then the Stanbic IBTC Blue Edge Savings Account is perfect for you.

The BluEdge Savings Account is a product that allows you to open an account with zero Balance, so you don’t need any money to open the account. You can always fund the account at any time to grow your savings. With the Blue Edge Account the minimum account balance is also zero naira, this means that you will not be charged for having zero balance on the account.

The BluEdge Savings Account gives students and young Nigerians currently enrolled in the National Youth Service Corps (NYSC) the edge that they need to experience financial confidence and freedom. It takes away the pressure of starting an account with huge funds as it enables them to start with zero naira while earning an interest on the savings every month.

The BluEdge Savings Account can be operated with ease and accessed with a Verve card on Internet Banking, Mobile Banking, ATM, and via USSD. Account owners can also withdraw cash from the nearest Stanbic IBTC Bank branch.  The requirements for opening a BluEdge Savings Account are: a BluEdge Savings Account form, passport photograph, BVN and student ID card.

According to Wole Adeniyi, Deputy Chief Executive, Stanbic IBTC Bank Plc, “The BluEdge Savings Account is a great opportunity for young people to maintain a savings account conveniently. It proffers solutions to the hassle of savings among youths, and the various benefits are deliberately aimed at encouraging and promoting a savings culture. It can also serve as an avenue for them to pursue their dreams.”