Carbon Limits Nigeria appoints Ogunleye managing director

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Carbon Limits Nigeria, a Joint Venture focused on climate change strategies and mitigation actions as well as energy and carbon market issues in Nigeria and throughout Africa, has announced the appointment of James Ogunleye as managing director. He succeeds Paul Parks.

Ogunleye has over 18 years’ experience which spans projects planning and implementation, projects coordination, business advisory and carbon projects development. He specialises in renewable energy systems, climate change and electricity. He has also worked with specialised power and renewable energy consulting outfits that played active roles in the grid and off-grid power systems and emerging renewable energy industry in Nigeria.

He has a Bachelors degree in Engineering from the University of Ilorin, Master of Science in Engineering from the University of Ibadan, and Master of Science in Renewable Energy & the Environment, the University of Reading, United Kingdom.

Prior to joining Carbon Limits Nigeria, Ogunleye held various positions such as project implementation officer at Globacom, projects/business advisor at PowerCap Limited, and project coordinator, Rubitec Nigeria Limited.

“I am very pleased with the appointment of James Ogunleye into the new role. As Carbon Limits Nigeria enters her next phase of growth, James brings the relevant industry experience to deliver on the mandate. I wish him a successful tenure,” said Paul Parks, outgoing managing director.

Torleif Haugland, technical partner, Carbon Limits, Norway, said, “We commend the board of Carbon Limits Nigeria on the choice of James as the managing director. James is an accomplished professional whose rich industry experience will be helpful in further strengthening CLN’s footprints in the Nigerian market.”


Chuks Oluigbo

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EdFin Microfinance Bank commences operation with focus on education

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EdFin Microfinance Bank on Thursday officially kicked-off banking operations, focusing on providing savings, loans and value-added services to stakeholders in the education sector of the economy.

The lender, which is Nigeria’s number first specialised bank focused solely on education finance, is an initiative of Gray Matters Capital through their investment company Gray Matters Mauritius (GMM) together with Bunmi Lawson and Adetayo John–Fishers.

The bank is designed to improve learning outcomes by providing financial services to private schools, school contractors and other stakeholders in the sector. EdFin will enable schools become sustainable businesses, develop linkages to education solution providers for innovative apps and technologies to supplement school curriculum.

Speaking at the launch of the bank, Oby Ezekwesili, former minister of education, advised the banks to direct their services to bridge the gap in skills and knowledge of schools, to enable the students transform the economy and compete with their counterparts across the world.

She said that if a country wants to improve the economic and social wellbeing of its citizens, it must be done through quality education.

“Those who have the capacity to pay should pay the right price for tertiary education and for those without the capacity to pay, edufinance and a subsidy from the federal government that is well designed will ensure that they are not left out of education,” Ezekwesili said.

It’s the bank’s vision to be the globally recognised bank of choice for education financial solutions in Africa and its mission is the provision of financial services to the education ecosystem for the realisation of human potential.

The bank believes that by providing appropriate financial services plus value added solutions to education providers and users, the human potential will be realised.

Bunmi Lawson managing director/CEO, said the launch of the bank marked … Read More...

EdoJobs-backed start-ups pitch to investors, seek to expand clientele base

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High-potential start-ups groomed by Edo State skills development agency, EdoJobs, at the Edo Innovation Hub in Benin City, are on a tour of the investment community and innovation hubs across Nigeria, including Lagos, looking to expand their frontier and attract more funds to boost their businesses.

The start-ups are a mix of businesses engaged in renewable energy solutions, agrictech, fashion and e-commerce, and pitched to seed investors and others in the early-stage start-up investment space, including co-founder, Bluechip Technologies, Olumide Soyombo, and CEO of Plus TV Africa, Kayode Akintemi, and many others. Some of the investors played a part in the growth of notable start-ups such as Paystack, Piggybank, among others.

The start-ups also got an opportunity to pitch their ideas at the Elevate Conference, attended by representatives of MTN Plc and other blue-chip companies.

Senior Special Assistant to Edo State Governor on Skills Development and Job Creation, Ukinebo Dare said the trip was to acquaint the start-ups with Nigeria’s bubbling start-up space, get them to attract investment into the state and build their clientele base.

According to Dare, “There is no denying that we have a thriving tech ecosystem in Edo State anchored at the Edo Innovation Hub. We are doing a lot to get the youths at the centre to understand that they are getting the best of training and support. Their trip was to expose them to the larger tech space in Nigeria and also showcase their amazing ideas to the investor network.”

Those on the tour include co-founder, X-crete Initiative, Eghareva Uyiosa; founder, Procode Kids, Lolita Oyibo; founder, Agriployee, Godsent Izinyon, and co-initiator, First Valley Gate Energy, Osarumen Racheal Omoregbe, among others.

They expressed appreciation to the state government for the experience, which has exposed them to the opportunities in Nigeria’s … Read More...

MTNN hits new high of N144.85 , closing in on Dangote Cement

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The share price of MTN Nigeria Communications Plc increased to N144.85 as at 10:35am on Wednesday May 22, 2019 from N131.7 recorded on Tuesday.

The share price increased by N13.15 or 9.98 percent which represents its daily allowable limit. The stock gained a total of N270billion on Wednesday.

At the current market price, the cumulative value (stock market cap) of MTNN is now N2.95trillion.

At this level, the total value of MTN Nigeria stocks is just about N250billion less than that of Dangote Cement Plc at N3.203trillion.

It implies that if MTNN achieved another 10percent permissible limit on Thursday May 23, it will surpass Dangote Cement Plc as the most capitalized stock on the Nigerian Stock Exchange.

The stock has risen by N54.9 or 60.9percent in just five days after its listing by introduction on the Nigerian Stock Exchange (NSE).

As at May 16, stock dealers exchanged 5.541million units of MTN Nigeria shares at N99 per share. On May 17, they exchanged 32.098units at N108.90 per share.

On May 20, 51.4million units were exchanged at N119.75 per share; while on May 21, stock dealers exchanged at N131.70per share, 110.7million units of MTN Nigeria Communications Plc.

The stock has the potential to continue its upward trend amid the Nigerian Stock Exchange (NSE) confirming that significant issues have been raised that Dealing Members who have not been involved in the cross deals have been unable to trade on behalf of their clients.

MTN Nigeria listed by introduction its 20.35billion shares at N90 per share. The stock was listed on the Premium Board.

The listing by introduction means that the existing shares of MTN Group (78.8percent), the Nigerian investors (19.4percent); and other investors (1.8percent) are listed.

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Lafarge Africa launches ready to use tile adhesive, SUPAFIX

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As part of its continuous drive for excellence in the building industry, Lafarge Africa Plc., a subsidiary of LafargeHolcim, the global leader in building materials and solutions, recently launched a ready to use tile adhesive, Supafix, into the Nigerian market.

Lafarge’s Supafix is a cementitious tile adhesive made of cement, aggregates, organic and inorganic additives, certified by the Standard Organisation of Nigeria (SON). This product is designed for placing of ceramic tiles, flooring and walling applications, as indoor coating solutions.

The introduction of Supafix into the Nigerian market is in line with Lafarge’s Strategy 2022, Building for Growth, which aims to drive profitable growth and simplify the business to deliver resilient returns and attractive value to stakeholders.

Speaking at the launch in Lagos, Head of Mortar, Lafarge Africa, Jumoke Adegunle, acknowledged that the new product’s introduction into the Nigerian market is in response to customer needs and global construction trends in the craft of tiling.

She further stated: “We launched Supafix because we have a unique understanding of our customers’ needs. With our access to best in class, innovative solutions from across the LafargeHolcim group worldwide, we were able to identify and introduce the right tiling adhesive that will satisfy the needs of our local customers.”

“For 60 years, Lafarge Africa has been at the forefront of technological advancement in the Nigerian construction sector. Our global presence and Research Centre in Lyon, France allows us to share best practices and create innovative solutions that deliver more to our customers. The new Supafix tile adhesive is one of such solutions” she concluded.

Beyond its value of reinforcing buildings, quality tiling enhances the aesthetics in any construction project at no additional cost.  Supafix is the ultimate tiler’s choice because it is fast and easy to use. … Read More...