AirSmat is focused on helping businesses harness the power of drone and satellite data.
Our approach in capturing data, ingesting data to our platform, and processing same in an intelligent way and its ability to digest large amounts of data and draw precise conclusions will help businesses gain insight into creative, beneficial strategies for the future.
We are starting out with data intelligence in farming. AirSmat is on a journey to ensure food security in Nigeria and the African continent by helping farmers and farm owners have access to useful intelligence that helps them take proactive steps to solve problems on their farms before the harvest season.
With this, we are sure of maximum yield for farmers, increased profitability, and cascading effect of food security for Nigerians and everyone on the continent. We are starting out in Nigeria, but our market is Africa.
NVIDIA Inception will allow AirSmat the needed tailwind for AirSmat and the implication is clear – Artificial Intelligence capabilities development on a steroid.
AirSmat will not only network with fellow startups, venture capitalists, and industry leaders at exclusive Inception events but have access to industry-leading technical guidance on which GPU-accelerated platforms, tools, and hardware in addition to co-marketing support from NVIDIA marketing channel.
The program will also offer AirSmat the opportunity to collaborate with industry-leading experts and other AI-driven organizations.
“Being part of NVIDIA accelerator program is a major milestone in our journey to build a world-class pan-Africa AI-driven business” AirSmat CTO, Adeoluwa Ibikunle reiterated.
According to the CTO, “AirSmat’s simple goal is – Using AI, we save farmers and farm owners valuable time and resources in identifying problems on their farms before these affect the yield of the planting season; being part of NVDIA accelerator program is the best thing that has happened to AirSmat as it will help us to achieve this goal with precision.”
NVIDIA Inception is a program that helps startups during critical stages of product development, prototyping, and deployment.
Every Inception member gets a custom set of ongoing benefits, such as NVIDIA Deep Learning Institute credits, marketing support, and technical assistance, that provides startups with fundamental tools to help them grow.
AirSmat was founded on the belief that Artificial Intelligence will shape the future.
We provide cutting edge AI solutions to many rapidly growing industries adopting drones into daily operations by helping to transform the way businesses collect, manage, and interpret drone data. We help businesses unlock the power of drone and satellite data.
FMDQ Securities Exchange admits Total Nigeria Plc and 2 others CPs
FMDQ has announced the admission of three new Commercial papers.
FMDQ Securities Exchange Limited has announced the quotation of Total Nigeria Plc, Mixta Real Estate and Valency Agro Nigeria Limited Commercial Papers under its platform.
According to the News Agency of Nigeria, the disclosure was made by the FMDQ Group in a corporate statement issued, sequel to the fulfilment of all regulatory requirements.
- The statement explained that FMDQ admitted Total Nigeria Plc., N2.25 billion Series 1 and N12.75 billion Series 2 Commercial Papers (CP) under its N30 billion CP Issuance Programme.
- It also approved the quotation of Mixta Real Estate Plc., N2 billion Series 32 CP under its N20 billion CP Issuance Programme.
- In the same vein, the FMDQ Group also approved the registration of Valency Agro Nigeria Ltd., N20 billion CP programme on its platform.
What they are saying
Commenting on the quotation of the issue, the Managing Director of Total Nigeria, Mr Imrane Barry, explained that:
- “The programme was set up to enable the company further broaden its sources of capital by accessing funding from the Nigerian debt capital markets, while also reducing its overall funding costs.”
In his remarks, the Managing Director, Valency International Pte Ltd., Mr Sunil Dhanuka, said:
- “We are glad for the successful registration of Valency Agro’s, N20 billion CP Issuance Programme. In line with our vision to grow within the agricultural value chain in Nigeria, Valency Agro is committed to ensuring the growth of the agriculture sector through our deep involvement in Cashew, Sesame, Cocoa and other produce.
- “Proceeds from this CP Programme will be used toward meeting the midterm working capital requirements of the various agricultural produce and on value addition prior to export.”
What you should know
- Nairametrics reported the admission of Axxela N11.5 billion bond on FMDQ platform.
- Total Nigeria Plc had earlier issued a debut commercial paper, which was aimed at supporting the sector and reactivating the economy. This CP was halted by the COVID-19 pandemic.
- Despite the disruption, the debut issuance attracted sizeable demand from a lot of investors, leading to oversubscription.
- The financial advisers of the debut issuance scheme are Stanbic IBTC Capital Limited and FBNQuest Merchant Bank Limited.
- Commercial paper is a money-market security issued (sold) by large corporations to obtain funds to meet short-term debt obligations (for example, payroll) and is backed only by an issuing bank or company which promises to pay the face amount on the maturity date specified on the note.
DEAL: Heirs Holdings acquires 45% of OML 17 from Shell, Total and Eni
Heirs Holdings has acquired 45% of OML 17 from Shell Nigeria as part of its expansion into the oil and gas industry.
Heirs Holdings has expanded its Oil and Gas portfolio, as it acquired 45% of OML 17 from Shell Nigeria.
The company acquired related assets, through TNOG Oil and Gas Limited (a related company of Heirs Holdings and Transcorp), from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and ENI.
This was disclosed by the company in a statement issued on Friday and seen by Nairametrics.
According to the statement, TNOG Oil and Gas Limited will have sole operatorship of the asset in a transaction that is one of the largest oil and gas financings in Africa in over a decade.
- “With a financing component of US$1.1 billion, provided by a consortium of global and regional banks and investors. OML 17 has a current production capacity of 27,000 barrels of oil equivalent per day and according to our estimates, 2P reserves of 1.2 billion barrels of oil equivalent, with an additional 1 billion barrels of oil equivalent resources of further exploration potential. The investment demonstrates a further important advance in the execution of Heirs Holdings’ integrated energy strategy and the Group’s commitment to Africa’s development, through long term investments that create economic prosperity and social wealth.”
What they are saying
In the statement, Chairman of Heirs Holdings, Tony Elumelu, said:
- “We have a very clear vision: creating Africa’s first integrated energy multinational, a global quality business, uniquely focused on Africa and Africa’s energy needs. The acquisition of such a high-quality asset, with significant potential for further growth, is a strong statement of our confidence in Nigeria, the Nigerian oil and gas sector and a tribute to the extremely high-quality management team that we have assembled.
- “As a Nigerian and more particularly an indigene of the Niger Delta region, I understand well our responsibilities that come with stewardship of the asset, our engagement with communities and the strategic importance of the oil and gas sector in Nigeria. We see significant benefits from integrating our production with our ability to power Nigeria, through Transcorp, and deliver value across the energy value chain.”
The President and Group Chief Executive Officer, Transcorp, Owen Omogiafo, explained that the deal further demonstrates the company’s integrated energy strategy and its determination to power Africa.
- “Heirs Holdings was advised by Standard Chartered Plc, as Global Coordinator, and United Capital Plc, with a syndicate of lending institutions including Afreximbank, ABSA, Africa Finance Corporation, Union Bank of Nigeria, Hybrid Capital, and global asset management firm, Amundi. The deal also involves Schlumberger as a technical partner, as well as the trading arm of Shell as an off-taker.
- “Heirs Holdings has created one of Africa’s largest, indigenous owned, oil and gas businesses, headquartered in Lagos, Nigeria and led by a board and management team with significant regional and global experience in production, exploration, and value creation in the resources sector.”
What you should know
- Two years ago, Nairametrics reported that Elumelu’s Heir may acquire Shell, as the Royal Dutch Shell Plc was reportedly considering the possibility of selling its two oil mining licenses in the oil-rich Niger-Delta.
- According to reports, Heirs Holding Ltd was already raising funds to acquire the two oil mining licenses 11 and 17 valued at $2 billion. The assets include a natural gas-fired power plant which will be managed by Transnational Corporation of Nigeria Plc.
- Transnational Corporation Plc in its Half year results for the period ended 31 June 2018, recorded a 44.8% increase in revenue from its Power segment of operation from N27.97 billion in half-year 2017 to N46.08 billion half-year 2018. The largest of its five revenue segments.
- According to the report, the decision to sell off these assets is triggered by the continued unrest in the oil-rich region and age long accusation of environmental pollution levelled against the Dutch oil firm.
- Shell has over the years faced stiff opposition in operating within the Niger-Delta region, with several reports of pipeline vandalism and youth restiveness in the region. This situation has left the oil company with undeveloped oil and gas reserves.
Deal: Ardova to acquire Enyo
Ardova Petroleum Plc (AP) has announced plans to acquire oil and gas retail outlet Enyo Retail and Supply Limited
Ardova Petroleum Plc (AP) has announced plans to acquire oil and gas retail outlet Enyo Retail and Supply Limited. This was announced via the website of the Nigerian Stock Exchange on Wednesday, January 13, 2021.
Nairametrics reported in September 2019 that Ardova had obtained its board approval to acquire downstream assets in the country in line with its expansion plans.
According to the information contained in the press release, Enyo accepted Ardova’s acquisition offer in a deal that is still subject to completion of a due diligence exercise and the receipt of all required regulatory approvals.
Ardova share price rallied during the day as news of the deal reached some investors and closed at N20 per share. The share price of Ardova has rocketed this year gaining 47.6% year to date as of Wednesday.
This will be the second major acquisition by Ardova Plc after its majority shareholders Prudent Energy Services, using a vehicle Ignite Investments and Commodities Limited, acquired majority shares in Forte Oil Plc from billionaire Femi Otedola in 2019. In the 2019 deal, Mr. Otedola sold 970,166,694 units of Forte Oil Plc in off-market trades at a price of N66.25 per share and valued at about N64 billion. Ardova share price was about N32.3 per share when it was acquired by Prudent Energy Services.
The CEO of Ardova Mr. Olumide Adeosun informed the Exchange that immediately following completion, AP will look to retain the Enyo branded stations which will operate side by side with the AP brand “whilst leveraging the strengths of AP and its group companies” in a move that is typical with such acquisitions.
Enyo was established in 2017 as a downstream energy player and is majorly owned by Folawiyo Energy, a notable player in the oil and gas industry. The Chairman of ENYO is Mr. Tunde Folawiyo. Ardova indirect majority shareholder Prudent Energy Services is owned by a Nigerian businessman and oil mogul Abdulwasiu Sowami.
Ardova reported a profit after tax of N1.8 billion in the first 9 months of the year compared to N2.5 billion the year before. Full-year profit in 2019 was N3.9 billion and it is very likely profits will fall when the company reports its results this year.