PE & Fundraising
Nigerian tech firm secures $10m grant from Swiss-based NGO
by JUMOKE AKIYODE-LAWANSON
May 31, 2018 | 8:33 pm| | | Start Conversation
Indigenous technology firm, O-Mobile Multimedia Limited, which specializes in financial and agricultural services development has secured a $10 million (N3.06 billion) grant from So Sue Ben foundation.
So.Sui.Ben Foundation is a Swiss-based non-governmental organisation that promotes development in Africa and the grant was facilitated by UK-based Africunia Limited, an innovative banking technology firm.
Benjamin Aduli, Chief Executive Officer of O-Mobile Multimedia Limited said the focus of the pact is to promote and deepen knowledge of the practice of digital-based services among Africans and thereby reduce poverty.
“We are excited about this ground-breaking pact which involves the creation of awareness about digital banking opportunities, educating governments and the general public about digital banking opportunities. We will be developing applications that will help Africans utilize digital banking technology and reduce poverty in the continent,” Aduli said.
Aduli added that the company would offer its multimedia business academy and provide free, digital and multimedia training to all interested micro, medium, small and small enterprises in Nigeria through a network of 1,200 O-Mobile academy centers that are currently being set up across the country.
Don Chancellor, President of Africunia bank said the time has come to tackle poverty in Africa using every available means adding that technology will help do this.
“Development needs to be fast-tracked in Africa and we are committed to the continent’s growth through digital banking products and services. We are very elated about this opportunity to develop MSMEs across Nigeria and Africa and make them globally competitive in this era of technology.
We have already started the hardwork. Working with O-mobile and So.Sui.Ben affords us the opportunity to quickly reach the unbanked and unconnected and give them access to first-world banking infrastructure and services. We believe that our partnership with a firm that already understands technology and has wide presence in Nigeria will help us quickly accomplish our goal,’’ Chancellor said.
Speaking further, Aduli stated that the company had already commenced work and hoped to sign-up at least 500,000 digital banking customers within 90 days globally.
He said O-mobile had already commenced rolling out the first agency group network in Africa that will take financial, telecoms, insurance, educational, agricultural extension services and data mining services to the unbanked and unconnected in the continent.
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