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Post by Honorebu on Dec 3, 2015 15:04:55 GMT
Untold Story Of The Legendary ALABUKUN POWDER And Its Maker Jacob Sogboyega Odulate, the Blessed Jacob, sat at the work table in his laboratory, writing the notes which contained the formula for what would ultimately be known as his famous patented medicine, Alabukun Powder.
This was in the year 1918. It was early in the evening of another hectic day at his place of work, a functional combination of office, consulting room and laboratory-cum workshop. His single minded pursuit of the goal of establishing an indigenous medical/pharmaceutical brand was legendary. He had displayed the same purposeful determination when at the age of 14, he decided to uproot himself from his ancestral town of Ikorodu and he had embarked on an exploratory journey which took him three months on foot to establish a domestic and commercial base in Abeokuta. His very modest, but cherished “headquarters” was built in the Sapon area of Abeokuta, a mere walking distance from the site of his future three-storey landmark home in Ijemo Agbadu.
With the day’s work finished, he supervised the ritualistic tidying-up of the office, a task in which some of his children were willing and excited participants.
Soon it would be time to join his friends for a few games at tennis at the Abeokuta Tennis Club, and then go off to his home to join his wives and children for dinner. His face, which could sometimes bear the disconcertingly combined countenance of both a firm disciplinarian and a mirthful father in equal measure, was today aglow with joy. He, a black man and member of the Yoruba ethnic group had triumphed against the seemingly insurmountable obstacles that the British colonial authorities had placed in the path of ambitious “natives”. He had penetrated the fortress of British-dominated commercial enterprise in nascent Nigeria, to become one of a very small group of Nigerian entrepreneurs in the colony. He had reasons to smile.
From the modest, but gradually escalating proceeds of the sale of Alabukun Powder, Alabukun Mentholine and other locally made products – all produced by him – the Blessed Jacob was able to realize his overarching desire, which was to underwrite all the expenses associated with sending his children to the land of the erstwhile colonial rulers, Britain, to further their education. One after the other, his offspring went off to study at Durham, Newcastle, USA and London to qualify as educationists, medical doctors, lawyers and engineers. They returned to Nigeria to join the pool of highly educated and successful professionals for which Abeokuta has been particularly famed in Nigeria history. Alabukun’s offspring have prospered and have made immense contributions to Yorubaland and to Nigeria in their various professions and spheres of endeavour.
The enduring success of the Alabukun brand is now interwoven into the fabric of modern Nigeria medical history. The Alabukun Powder in particular is displayed and sold in thousands of pharmacies, markets and roadside stalls all over Nigeria. In many states in Nigeria, Alabukun powder is considered to be the obligatory cure-all for almost every ailment. In neighbouring countries such as Benin Republic, Ghana and Cameroon, the eye-catching Alabukun brand is to be seen advertised everywhere. Alabukun products are sold in several towns and cities in the USA, the UK, in Europe, Brazil, Jamaica, and yes, even as far away as China. You can buy Alabukun products on-line, off-line, under-bridges and over-expressways.
Just last year, 2012, the descendants and family of the Blessed Jacob marked and celebrated the 50th anniversary of the passing on of this towering man. In a manner in which he would have been proud, the celebrations were modest and without fanfare. None of the governors of the various states in South West Nigeria in which the Blessed Jacob made huge contributions was present. Both Ogun State and Lagos State were in no way officially represented at this significant anniversary. However, we owe nobody any grudge because for a particular reason the family had decided to make the anniversary a low-key affair.
Happily, his children, his grandchildren, great grand-children and great-great grandchildren as well as the descendants and relations of the multitudes of his beneficiaries, patients, friends and employees, were all there to celebrate the history of this under-appreciated icon.
And so, one year after this 50th anniversary, what are the physical edifices and buildings that can serve as a present and future testimony to his legacy, to his industriousness, to his trailblazing entrepreneurship?
Even then a befitting memorial, indeed, a legacy, solid, towering structure such as a house has severally suffered from uncaring and insensitive official arm.
First to go was the magnificent family residence in Ijemo Agbadu with its unique granite-hued frontage and castle-like grounds which for more than half a century housed living quarters for family and friends alike – DEMOLISHED!
Secondly, in 2013 the building (the first two-level building in Abeokuta, Sapon) the original birthplace and home of the Alabukun brand was – DEMOLISHED!!
Thirdly, the storey-building that the Blessed Jacob built on the east side of Ikorodu Road and which for decades was the most significant landmark on that road before one reached the landmark Ikorodu Roundabout was also pitifully – DEMOLISHED!!!
This sad history of willful disregard and disrespect for the legacies of those who came before us and who contributed so much to the nation that we today call Nigeria is abundantly exemplified in the tragic fate of Alabukun’s properties. We, the descendants of the glorious Blessed Jacob are so grateful and proud of his life. The education that he bestowed upon us, the wonderful example he showed in his personal and business life, his immense generosity and kindness of spirit, these are what we and our own descendants will never forget.
For those who find themselves in power today, and for those who were in power when all of the destructive acts described above were committed, we have only this to say:
The act of destruction of the physical properties of those who did so much to make our nation great can never desecrate their names or their legacies. It is those who permit such destruction who should ask themselves this: “Is this the way to honour the past? Are we proud to announce to the world that we allowed history to be corrupted and eroded like this?”
Finally, sad as we may feel about this story of demolition as chronicled above, we, the descendants, especially his children, are proud and grateful to God that our magnificent Patriarch, Papa Chief Jacob Sogboyega Odulate – ALABUKUN – The Blessed Jacob – left us a legacy that can never be forgotten in the history of Nigeria. In life and in death he stands up in the development of Nigeria.
What a man! What a hero! What a legacy!
For more information on the life of this great man, I refer you to the book “Reaching for the Stars” an autobiography of one of his children – Chief Folake Solanke SAN.
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Post by Shymmex on Dec 4, 2015 16:40:39 GMT
Elijah Oyefeso
Interview with 20 Year Old Millionaire Stock Trader – Elijah Oyefeso
20 year old Elijah Oyefeso isn’t your typical uni dropout. In fact, he’s now a stock-trading high roller driving three sports cars (2 featured on The Daily Mail today). After just 4 months at Buckingham University studying International Football Business Management, Elijah decided to leave, telling Student Cheddar “Uni was decent, my course was very standard but at the end of the day it just wasn’t my passion. I found that I really started to fear the fact of working under someone else”. Elijah, who grew up in South London now makes over £26,000 a month trading ‘binary options’. Binary options are basically estimates of an underlying asset’s performance during a given time frame. Instead of buying and selling stocks ‘in the market’, Binary Options just involves placing a bet on the direction of a stock without having to purchase a stock. If the above hasn’t already inspired you enough then check this video of Elijah purchasing his new Lamborghini. Interview with Elijah Oyefeso So Elihaj, when & why did you start trading? I started trading when I was just 17 years of age. However, I never really took it seriously until I left university. Starting early defintely helps with your general market perception, but I don’t think that it is essential! The reason I started trading was because I was once browsing YouTube and came across a video of Tim Sykes (a famous penny stock trader) make over $5000 in a 15 minute video! I thought ‘if he can do it, why can’t I?!’. What does a typical day for you involve? A typical day for me involves getting up quite early to get a general awareness of the market, and I often start trading at around 10am. After I have finished trading (this varies between 30 minutes to 3-4hours) I go to the gym to let off some steam! I also put a lot of focus in to starting other businesses (I have around 5 projects going off at the minute). I go to my local church 3 times a week and I think most of my success comes from my faith.  How did you learn how to trade so profitably? I learnt a lot through different media outlets, namely YouTube, blogs and books. I highly recommend YouTube as you can find exact trading strategy walk-throughs by experts such as Tim Sykes. Most importantly, I learnt from my very expensive mistakes. It’s all good reading books about how not to follow your emotions when trading, however when you make a loss of £2000 because of following your heart not your head, the lesson really sinks in! What do you think are the most important skills you need in order to trade successfully? Three skills: Discipline, time and patience. All these skills can be developed, however you’ll never make profits trading in the long run without them. Whats been your biggest profit [and loss]in one day? My biggest profit in one day was £10300 in March this year. However, I’ve also had some pretty hefty losses (great lessons), of which my worst was £2000 in one day. Trading is a rollercoaster of profits and losses, however if there are more ups then downs, it’s a very fun ride!
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Post by Her Highness on Dec 11, 2015 1:46:07 GMT
Meet UK Born Nigerian, Olajide Olatunji Who Made Over $4.5 Million This Year on Youtube
Olajide "JJ" Olatunji (born 19 June 1993),
better known by his YouTube username
Ksiolajidebt (stylised as KSIOlajideBT) or
simply KSI, is an English videogame
commentator, comedian and rapper. He is
best known for his YouTube channel, which
has, as of October 2015, reached over 10.6
million subscribers.Born in Watford,
Hertfordshire, he can sometimes be seen
wearing traditional Nigerian dress in his
videos. His surname "Olatunji" means
"Wealth awakes again" in Yoruba.
Before his successful channel, Olajide had a
YouTube channel (which is still online) called
JideJunior, which he created on 24 April
2008. Olajide opened his current YouTube
account on 24 July 2009, with a video about
the FIFA video game franchise.[ According to
his website, YouTubers such as Wepeeler and
Hjerpseth inspired him to start his own
YouTube career. His main channel is
primarily focused on FIFA, although he plays
other games such as Grand Theft Auto V and
other PC-based modifications on his
secondary channel. Olajide's family often
appear in his videos, especially his younger
brother Deji and his father.
,275376.0.html
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Post by Her Highness on Dec 11, 2015 2:20:37 GMT
Medical doctor could be first Nigerian to space
The young doctor could become the first black African in space.
The competition is “organized by London-based talent agency Kruger Cowne in partnership with One Young World and Xcor Space Expeditions… putting this person in the global spotlight to help lead and promote issues of global importance,” Quartz reported.
“If selected, I will be making Africa proud as the first black African to go to space thereby making history in the process,”
www.ghanaweb.com/GhanaHomePage/worldNews/Nigerian-doctor-makes-top-three-in-space-competition-388884
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Post by Her Highness on Dec 11, 2015 2:24:00 GMT
16 year old Nigerian designer, tumisola ladega wins Jimmy Choo bursary prize
It was the annual 2015 graduation ceremony for the students of the International School for Creative Arts. Honorary President of the school Professor Jimmy Choo was guest of honour. Certificates were presented to graduating students and awards given to outstanding students one of whom was our very own Tumisola Ladega .
Even though 16 years old Tumisola was not in the graduating year, she was one of the two students honoured by Professor Jimmy Choo with a certificate and a Bursary Prize for outstanding work in Fashion and Design and for making such remarkable progress in the short time she joined the school for A levels.
Tumiila is a fashion label founded in 2012 by UK based young designer Tumisola Ladega. She was 14 years old at the time but decided she didn’t want to wait to begin her dream. Prior to this, her individual designs have featured in competitions from the age of 12. She has since produced a series of collections as well as individual garment projects.
Through these years her designs have graced the catwalks of major fashion shows and fashion weeks in Miami, Maryland USA, Lagos Nigeria, South Africa and of course London. As a developing label, Tumiila touches all areas, from high end couture to urban, and from evening to ready to wear. Tumisola is now 16 years old and her work has also had the privilege of recognition by the honourable Joan Burstein and Professor Jimmy Choo.
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Post by Her Highness on Dec 11, 2015 2:33:51 GMT
Campus Safety chief receives award
His integrity impressed a U.S. Immigrations officer in 1995 and was granted another visa to return, immigrating in 1996. Leroy Neal, former Biola track and field coach, wished to recruit John.
“It took six years to get him from out of Nigeria,” Neal said. “I had heard about him from a friend at Azusa Pacific who gave me his name and number and I called him and I’d written to him and I decided I wanted to recruit him because he was a world class long jumper.”
chimes.biola.edu/story/2015/sep/23/campus-chief-receives-award/
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Post by Her Highness on Dec 11, 2015 2:35:08 GMT
UCLA Student Pushes City of Inglewood to Address Health Risks of Beauty Products for Blacks
UCLA Ph.D. student Teni Adewumi (left) talks to a hair stylist about the potential risk of some hair products. Adewumi is hoping to persuade the City of Inglewood to pilot a program promoting healthy hair salons.
The Nigerian-American student began shining light on the issue last summer when she started working for the L.A. nonprofit, Black Women for Wellness’ Healthy Hair Initiative project as part of a partnership between the Occupational Health Internship Program and the UCLA Labor Occupational Safety and Health program.
Before pursuing graduate studies at UCLA, Adewumi developed an interest in safe working environments. She won an occupational health and safety internship at Fortune 500 company, Medtronic. The internship turned into an 18-month gig.
atlantablackstar.com/2015/10/16/ucla-student-pushes-city-of-inglewood-to-address-health-risks-of-beauty-products-for-blacks/
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Post by Her Highness on Dec 11, 2015 3:16:43 GMT
How three Yoruba students created Nigeria's online jobs giant
Instead of slacking off, Ayodeji Adewunmi, Olalekan Olude and Opeyemi Awoyemi started an online job search company. Five years later their start-up, Jobberman, has got a multi-million dollar valuation, employs 125 people, and is still growing. Three students had time on their hands in the summer of 2009 when their university lecturers in Nigeria went on strike. Instead of slacking off, Ayodeji Adewunmi, Olalekan Olude and Opeyemi Awoyemi started an online job search company. Five years later their start-up, Jobberman, has got a multi-million dollar valuation, employs 125 people, and is still growing. While Nigeria is Africa's largest economy it still has massive unemployment problems, in particular among young people who are also more likely to be connected to the internet. Jobberman has become the single largest job placement website in sub-Saharan Africa, helping over 35,000 people find jobs within the last two years. The number of companies using the site to find employees has grown from about 40 in 2009 to some 35,000 today. Young Jobberman employees sitting in front of computers wearing headsets. Image caption  The company employs 125 people in Nigeria and beyond Carrying between 500 and 1,000 jobs on the site every day, the founders estimate that there are about 1,000 active users searching for a job at any given time. "The growth has been tremendous, it's at rocket speed. One of the biggest challenges has been to keep up with the volume of work," says Olalekan. Overcoming fraud fears
However, there have been other challenges along the way. "In the beginning a lot of people did not trust an internet-based business because at that time a lot of people were using the internet to perpetuate fraud here in Nigeria," he says. But as other online businesses thrived and became trusted, so Jobberman thrived. Companies would dip their toe in the water with one or two postings and then when they trusted the site they would come back. Ayodeji Adewunmi with a Jobberman van Image caption Olalekan Olude says he is proud because each job someone finds on his site helps support a household In 2012 some of Jobberman's clients wanted to use the site to find workers in Ghana and so the company took its first work outside Nigeria. Two years later it says it is now the biggest online job site in Ghana as well as Nigeria.  The company is now expanding its reach to Kenya with a partner called Brighter Monday. The partnership also gives it a footprint in Uganda and Tanzania. 'They found me'
Amarachi Apakama who found a job on Jobberman Amarachi Apakama found a job through the site without filling out an application  Some people find a job through the site without actually applying for one. Amarachi Apakama uploaded her details and was approached by a company to take the position of executive assistant at a mobile phone content company. "That really changed my life," she says. "It was a morale booster. It helped my confidence - the fact that my interests and my experience put together such a good fit that I didn't have to apply for the job." Multiplier effect "It is incredibly fulfilling helping people to become economically empowered by getting job placements via Jobberman," founder Ayodeji Adewunmi says. Africa's new entrepreneur branding The BBC's business teams across Africa meet the continent's entrepreneurs who are starting up new enterprises and seeking to create big opportunities. Read more: New Entrepreneurs "One company recruited more than 80% of their employees through the site. Another time, a director was able to hire a former colleague in the United States to come and work for his company here in Lagos. All amazing stories." Olalekan Olude adds: "If you put food on the table by virtue of getting a job for someone, that person also fends for a mother, or a brother and you create a multiplier effect within that household. "And anytime we get to hear of such stories, we are very, very happy. It motivates us, it makes us look forward into the future and try and get more people to get more jobs." www.bbc.com/news/business-29013286
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Post by Her Highness on Dec 11, 2015 3:56:51 GMT
Nigeria police gets first female force PROThe Inspector General of Police, Solomon E. Arase, has appointed Acting ACP Olabisi Alofe Kolawole as the new Force Public Relations Officer. Kolawole becomes the first female police officer to be appointed as National Police spokesperson. “This appointment is geared towards harnessing the enormous potentials among Nigerian female Police officers,” Arase said in a statement signed…
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Post by Her Highness on Dec 11, 2015 4:09:02 GMT
Admiral Itunu Hotonu: Smart, articulate and very intelligent, Admiral Hotonu is the first woman to attain the rank of Rear Admiral (a two-star General), in the Nigerian Navy.  The 52-year-old Admiral from Badagry, Lagos State, can be said to be first in everything she has done. Hotonu is the first child in a family of four girls, and has always taken the first position in class right from her primary school days till this day. She was among the first set of architects to be enlisted into the Nigerian Navy and it is on record that Hotonu was the first female military officer to serve as a Directing Staff (that is an instructor) at the famous Armed Forces Command and Staff College (AFCSC), Jaji. She was also the first female military officer to attend the then National War College, now National Defence College, where she emerged the best overall graduating student and won the Commander-in-Chief's prize as well as the Commandant's prize for the best research. Born on January 18, 1959 Hotunu studied Architecture from the University of Nigeria (UNN), Nsukka, and enlisted in the Nigerian Navy in 1985. She has served at various naval formations and in different capacities across the country. She was director of projects, Naval Headquarters Commander, Lagos Logistics Depot, Command Logistics Officer, Headquarters Eastern Naval Command, Calabar. In 2008 when she was appointed Managing Director of the Nigerian Navy Post Service Housing Scheme(NNPSHS), a position she held until her promotion to the rank of a Rear Admiral in December, 2010. Admiral Hotunu, who has been the Group Managing Director and Chief Executive Officer of Navy Holdings Limited since 2010 is a highly decorated senior officer who has the military prestigious awards of FSS, MSS, DSS attached to her name. She etched her name in history when she was promoted the first female Rear Admiral in the Nigerian Navy. In just 12 months after she was appointed the MD of the NNPSHS in Karshi, Nassarawa State, this Amazon built and completed 460 houses. As at today, Admiral Hotonu has built over 1,000 houses in the estate. Popularly called mama by her staff, Admiral Itunu told the story of how she wanted to join the army after her university education when she made up her mind to join the military but was turned back by the army authorities on the grounds that they didn't take women in engineering corps. Call her the stone rejected by the builders that suddenly became the chief corner stone, and you won't be wrong. Having been rejected by the army, she was accepted by the navy and no doubt become a pillar in that branch of the Armed Forces. She made the Navy proud with her achievements at the post service housing scheme where apart from building those houses, she also built and completed the NOWA Educational Centre comprising a creche, nursery school, primary school and a junior secondary boarding school, which is already in session. As if that was not enough, she went further to increase the water reserve capacity of the estate from 60,000litres in 2009 to 600,000litres. Recently, she was invited to the 54th anniversary celebration of the Liberian Armed Forces by the government and people of Liberia and to also help in mentoring female officers in that country's armed forces. In this interview, Admiral Itunu who is a staunch believer in hardwork, attributed the strength she display to the upbringing she had from her father whom she credits with what she is today. At a very tender age of eight, she said her father started drumming it into her ears as his first child that he was going to hand over his family to her when he was gone. And so at age 13, Hotonu said she had already assumed her responsibility of taking care of her younger ones and the management of their home. She took care of things like fixing of sockets, tiles and even drove her father around town while he sat at the owner's corner. Source
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Post by Her Highness on Dec 11, 2015 5:36:45 GMT
Bola Atta, Current Dir for Marketing and Corporate Comm. UBA
While the magazine was still in production, the Editor of Flair (Formerly True Love) Magazine thrilled many of its readers with interesting features, inspiring interviews and insightful information. Many are still awaiting her comeback. Bola Atta was voted one of the 40 top Nigerians under 40 in 2008. She was also celebrated as one of the 100 most influential women in Nigeria in March 2015. A graduate of Economics with an M.B.A majoring in Marketing, she has over 20 years of experience in diverse fields ranging from Banking, Business, Communications, Publishing, Entertainment and the Media. Approximately 15 out of these 20+ years have been in high level management and entrepreneurship, enabling her gain expertise in each of these varied fields of work. She has worked with government agencies both in Nigeria and South Africa using her expertise in public relations and increasing her wide network within Africa. She made a mark in the Media industry on the African continent as one of the most sought after editors in Nigeria. She was featured on CNN’s Market Place Africa in March 2010 in a segment on African Fashion. In 2003, she was invited by the African Leadership institute in partnership with the UNDP to work on a panel for the development of scenarios for South Africa in 2020. This week long seminar brought together young leaders from all parts of Africa to join heads in discussing the future not only of South Africa, but of the entire continent. It has now evolved into the Bishop Tutu Fellows for young African Leaders. In 2001 as programme manager for West Africa at M-Net, Atta proposed to the executives of M-Net (Electronic Media Network), that a channel be dedicated solely to the broadcast of African movies – specifically Nollywood movies. She worked on the concept, development and programming of this channel which was successfully launched in 2003. Today, The Africa Magic channel is the most watched channel on the African continent. Atta moved on in the Naspers group to become the editor of True Love West Africa magazine. In 2005, Bola became a director of one of the largest publishing conglomerates in Africa. She was appointed to the board of Media24 Nigeria. Bola Atta is presently the Director for Marketing and Corporate communications for UBA (the United Bank for Africa) overseeing 18 countries across the African continent. 
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Post by Her Highness on Dec 11, 2015 6:12:55 GMT
Bola Kuforiji-Olubi
Otunba Ayora Bola Kuforiji, was the first Nigerian woman to be CEO of a multinational company (VYB Industries Limited, with British affiliates (incheape & Co Plc) and first female Chairman of a public quoted company (Bewac Plc). She is presently into philanthropy and improving her local community. 
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Post by Her Highness on Dec 11, 2015 6:18:53 GMT
Mitchell Elegbe & Bukky George Bag 2015 HBSAN Leadership Awards
The Harvard Business School Association of Nigeria (HBSAN) has honoured Dr. (Mrs.) Obiageli 'Oby' Ezekwesili; a senior economic advisor with Africa Economic Development Policy Initiative (AEDPI) in the Social Impact category, Mr Mitchell Elegbe; Founder and GMD, Interswitch Limited in the General Management category, and Mrs. Bukky George; Founder & CEO of HealthPlus Limited and CasaBella Int'l Limited, in the Entrepreneurship category, for their exceptional leadership and impactful contributions to society. Mitchell Elegbe received the general management award for his exemplary leadership abilities that has seen Interswitch revolutionise the electronic payment industry in Nigeria, and Africa as a whole. His commitment to professional growth and innovation, has led Mitchell to create a team of winners, motivating them to see the value in their work and consistently rise to the occasion at all times, irrespective of the odds. It was no surprise that Mitchell dedicated his award to the entire Interswitch team, stating that, 'the Interswitch success story is by no means the story of one man, but an inspiring story of a dedicated and exceptional team'. The Leadership award for social Impact was awarded to Dr. (Mrs.) Oby Ezekwesili for her relentless and passionate pursuit of a not for profit enterprise; committed to the advancement of others. While Mrs. Bukky George, received the leadership award for entrepreneurship for her outstanding entrepreneurial qualities in growing and developing her business. The HBSAN award is an annual event that recognises excellence, inspiring others to leave a mark in the evolution and development of Nigeria's economic and social landscape. HBSAN is the alumni group of Nigerians and resident non-Nigerians who have benefited from the management education at the Harvard Graduate School of Business Administration (Harvard Business School) in Cambridge Massachusetts, USA. Source: www.latestamebonaija.com/2015/12/oby-ezekwesili-mitchell-elegbe-bukky.html
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Post by Her Highness on Dec 11, 2015 6:24:30 GMT
Nigerian Entrepreneur Maureen Obaweya Brands Her Luxury Designs With Developing World Market Flavors
"Morin O Handbags (www.morin-o.com) makes a stunning addition to our new women's line of products." states Sakina Iskender, fashion director at Washington D.C's Take 5 Boutique, offering upscale Washington clientele a unique mix of exclusive European and global designs. (Take5Boutique.com). "We have sold quite a few from her collection." According to a Babson College study, she is among the over 126 million women entrepreneurs running businesses in over 70 countries worldwide. The National Women's Business Council estimates there are over 8 million women-owned businesses in the United States. Despite a hectic schedule of operating three small businesses in Africa's fastest growing economy, Maureen (known as Morin in Nigeria ) expects to join their ranks. The open air craft markets of Senegal, Ghana, Cote' D'Ivoire and India which she visits at every opportunity, bring an excitement and flair to her new line of exotic leather good www.huffingtonpost.com/paul-wisenthal/nigerian-entrepreneur-mau_b_6708928.html
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Post by Her Highness on Dec 11, 2015 15:42:02 GMT
Nigeria’s former tech minister is now a venture capitalist
London-based venture capital firm, TLcom, has appointed Omobola Johnson, Nigeria’s former minister of communications and technology, as lead partner as it kicks off its West African operations. The venture firm, which opened its first Africa office in Nairobi two years ago, is looking to raise up to $100 million for investment in African start-ups through its TLcom TIDE (Technology and Innovation for Developing Economies) Africa Fund. The focus of the investments, which could range from $500,000 to $10 million, will be on e-commerce, energy, health and education technology startups which have a potential for fast growth.  Omobola Johnson(Ministry of ICT)
In Johnson’s four years in government, the tech ecosystem in Nigeria grew fast and she was keen to encourage and enable the growth of local start-ups. One of her lasting legacies was launching Idea Nigeria, an incubation hub in the heart of Yaba—the epicenter of the tech ecosystem in Lagos. Since leaving office after the March/April elections, Johnson has remained on the public radar and earlier this month, she was announced as Honorary Chairperson of Alliance for Affordable Internet. Maurizio Caio, TLcom founder, says the focus for the Africa Fund will immediately be on start-ups with high returns potential. “For this cycle we need to be very merciless in focusing on the highest potential entrepreneurs—to make a point and to demonstrate that high returns are possible.” TLcom’s aggressive expansion in search of more tech opportunities in Africa could be a signal fears of investing in African tech companies and achieving profitable exits is abating. Caio says the bigger issue is identifying start-ups with real potential. “If you have a good company, you can exit. It is a not an exit problem—it is a quality of company problem.” qz.com/513932/nigerias-former-tech-minister-omobola-johnson-is-now-a-venture-capitalist/
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