Co-creation Hub [CcHUB] will today officially launch the ‘CcHUB Design Lab’. The design lab is an unprecedented next step in Africa’s growing tech sector, and is set to become a leading creative space where its multidisciplinary team of product designers and engineers will collaborate with scientists and stakeholders globally, to explore the application of emerging technologies that will solve Africa’s systemic problems in Public Health, Education, Governance and the Private Sector.
The new state-of-the-art lab, located in Kigali, Rwanda, sees CcHUB, the leading innovation centre dedicated to accelerating the application of social capital and technology for economic prosperity, expand its physical presence to another African country, for the first time in its eight-year history. CcHUB is now looking to partner with both public and private industry bodies from across the continent.
H.E. Minister of ICT and Innovation, Rwanda, Paula Ingabire, will launch the new lab with CcHUB’s Founder and CEO, ‘Bosun Tijani. They will be joined by Kampeta Pitchette Sayinzoga [Director General, National Industrial Research & Development Agency, Rwanda], Patrick Buchana Nsenga [Chief Executive Officer, AC Group Rwanda] and Jeanine U. Condo [Director General, Rwanda Biomedical Center]. Special guest Bez will provide live musical entertainment on the day.
Commenting on the official launch, H.E. Paula Ingabire says “CcHUB’s expansion into Kigali, marked with the launch of the Design Lab today, is an exciting landmark for Rwanda’s burgeoning tech community. Rwanda is keen on collaborating with world-class partners to establish ourselves as a leading destination that nurtures innovation-driven enterprises. We see technology as an integral gateway and means of developing society – an ethos and mission shared by CcHUB. As we strive to become a knowledge-based economy, we will continue to build long-lasting, strategic partnerships that celebrate excellence, forge ahead with progress and that are, essentially, a force for good that will impact thousands of people across the continent.”
With an unrivalled track record of supporting tech-enabled companies connected with civic society, CcHUB boasts a pre-incubation portfolio of over 60 companies, including digital blood bank, Lifebank, recycling venture, WeCyclers and Budgit, a web platform that simplifies the Nigerian budget and public data. The Design Lab, which further reinforces CcHUB’s commitment to solving Africa’s biggest development and social challenges, will be powered by a multidisciplinary design team of designers and engineers. Using design and innovation, the three key sectors of focus are:
- Public Health: Focused on digital epidemiology by collaborating with a cross-sector of stakeholders including scientists, researchers, health professionals and developers to use technology in accelerating the adoption of locally-created solutions for better detection and surveillance of diseases, and improving adherence to treatment.
- Education: Focused on improving students’ interests, participation and learning outcomes in STEM education, with attention paid to teaching methods and use of creative content.
- Governance: Focused on the role of technology in helping the government promote participatory governance, transparency and more effective public services for social and economic prosperity.
On the launch of the Design Lab, ‘Bosun Tijani, CcHUB’s Co-founder and CEO comments, “We’ve been building tech businesses alongside African entrepreneurs for almost a decade and in that time, we’ve identified a common challenge that businesses face when it comes to sustainable growth – Design and Innovation. With the CcHUB Design lab, we will be collaborating with organisations that may not have the capacity to design, build and innovate as quick as leaner startups would. The lab will also build on CcHUB’s extensive global and pan-African network of partners, research institutes and governmental organisations to execute practical design projects that will solve some of our social and business challenges at scale”
“Whilst our work from the lab will focus on the entire continent, we chose Rwanda as the country to operate from because of the ease of doing business in the country. Additionally, by collaborating with the Government of Rwanda, whose vision aligns with ours, we hope to find solutions that will enable socio-economic development, productivity and development across Africa.”
Since launching in 2011, CcHUB has built a community of over 13,000 technologists, entrepreneurs and thought-leaders, and has incubated and provided support to a portfolio of over 110 early stage ventures providing solutions to social problems with technology. With the expansion, CcHUB plans to invest approximately $11m in Rwanda.
Deap Capital Management & Trust Plc reacts to ‘rumoured’ AMCON takeover
AMCON had dragged the company before a Court in a bid to recover the debt.
Deap Capital Management & Trust Plc has reacted to media reports about the supposed takeover of its assets by the Asset Management Company of Nigeria, AMCON.
In a statement that was signed by the Company Secretary, Yetunde Fashesin-Sousa, Deap Capital admitted that it is indebted to AMCON to the tune of N1.6 billion. It was also confirmed that AMCON owns a 20% equity stake in the fund management firm.
Note that the indebtedness arose after AMCON took over ownership of certain banks. Apparently, these are banks that Deap Capital originally owed. However, following the transfer of the unnamed banks’ assets to AMCON, the debts were also transferred alongside.
Meanwhile, AMCON had dragged the company before the Federal High Court in Lagos in a bid to recover the debt. A ruling on the case, which was delivered on January 28 by the Hon Justice John Terhemba Tsoho, was in AMCON’s favour.
Following the ruling, AMCON began the process of recovering the debt from Deap Capital Management & Trust Plc. The company said it has been cooperating in this regard by working towards repaying the debt.
The company also clarified that the assets that were taken over by AMCON belonged to its former directors whose names were not mentioned. Nairametrics could not verify if these directors are among those who were recently reinstated by the Securities and Exchange Commission, SEC. But we do know that AMCON had obtained a court order to attach the ‘former directors’ assets’ in its attempt to recover the N1.6 billion debt.
In the meantime, Deap Capital Management & Trust Plc said it is committed to resolving its operational challenges, including the recovery of its operational license and profitability issues. The company’s latest earnings report (for its Q1 period ended December 31st, 2019) showed a total income of N1 billion. There was also a N6.3 million loss for the period under review.
Deap Capital’s stock opened today’s trading session on the Nigerian Stock Exchange with a share price of N0.30. Year to date, the stock has declined by some -18%.
Lafarge Africa Plc. announces its board meeting and closed period for Q2 2020
The notification which was duly signed by General Counsel & Company Secretary.
Lafarge Africa Plc. notified the Nigerian Stock Exchange and the investing public that he closed period will commence on Wednesday, 8th July 2020 until the unaudited financial statement for the second quarter ended 30th June 2020, is released to the Nigerian Stock Exchange.
In a disclosure on the Nigerian Stock Exchange, it wrote: “We hereby notify the Nigerian Stock Exchange and the investing public that a meeting of the Board of Directors of Lafarge Africa Plc has been scheduled to hold on Thursday, 23rd July 2020 to consider the second quarter financial results of the Company for the quarter ended 30th June 2020.”
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The notification which was duly signed by General Counsel & Company Secretary, Mrs. Adewunmi Alode explained further stating that “Accordingly, no Director, employee, persons discharging managerial responsibility and Advisers of the Company and their connected persons may directly or indirectly deal in the shares of the Company in any manner during the closed period.”
Over the past few months, it made a few board changes with the retirement of two of its Non-Executive Directors, as well as the appointment of three new Directors. It had also spun off its South African subsidiary, Lafarge South Africa Holdings (LSAH), last year.
Lafarge Africa’s Q1 2020 revenue was up 9.8% year-on-year to N63.7 billion, driven by higher Cement Sales (a figure up 11% year-on-year to N62.3 billion) which offset the weakness in Aggregate and Concrete (down 21% y/y to N1.4bn). Its EBITDA grew by 2.4% year-on-year to N19.3 billion as well. As at Tuesday the 7th of July, the share price of the company was N10.00.
AXA Mansard Insurance Plc gives notice of Annual General Meeting
The AGM will be live-streamed to enable shareholders and stakeholders participate.
Insurance firm, AXA Mansard Insurance Plc., has given notice of its board of its Annual General Meeting (AGM) scheduled for Wednesday, July 29, 2020, at 10:00 a.m.
The announcement which was disclosed by Nigerian Stock Exchange (NSE) in a corporate disclosure on July 7th, 2020 and signed by Company Secretary, Omowunmi Mabel Adewusi read, “Notice is hereby given that the twenty-eighth annual general meeting of AXA Mansard Insurance Plc. will hold at the Oriental Hotel, no. 3, Lekki Road, Victoria Island, Lagos on Wednesday, July 29, 2020, at 10:00 a.m.”
As noted, the purpose of the AGM is to transact the following business:
- To receive the Audited Financial Statements for the year ended December 31, 2019, and the Reports of the Directors, Auditors and Statutory Audit Committee thereon
- To authorise Directors to fix the remuneration of the Auditors
- To elect Directors and
- To elect members of the Statutory Audit Committee.
In order to ensure that all relevant stakeholders can be a part of the AGM, the company will also be streaming the AGM live. It noted that “This will enable shareholders and other stakeholders who will not be attending physically to follow the proceedings.”
The link for the live streaming of the Meeting will be made available on the Company’s website at www.axamansard.com.
Recall that a few months ago, in March, the company’s Board of Directors announced the appointment of John Dickson as the company’s new Non-Executive Director. A month earlier, it also disclosed its plan to sell its pension management subsidiary (AXA Mansard Pensions Ltd) and some undisclosed real estate investments.
Its unaudited financials for the period Q1 2020 reveal a growth across revenue and profit lines. Gross written premium grew by 21% from N17.4 billion earned in Q1 2019 to N21 billion in Q1 2020. Profit for the year for the group grew by a commendable 120% from N890 million in Q1 2019 to N1.9 billion in Q1 2020.
As at Tuesday, the 7th of July when markets closed, the share price of the company was N1.59. The company’s EPS stood at 0.33 while its price to book ratio stood at 0.6082.