3 Smart Ways to Give Your Child/Ward The Best Education

Imagine the smile on the face of your child, looking directly at you, and wearing that beautiful school graduation gown- That look is priceless! One of the ultimate goals of most parents is to give their children/wards the best of education. The best education to an extent adds the icing on the cake to the parenting career.  Sadly factors such as rising school fees, inflation, and general economic situation of a country always pose as obstacles to this great plan that parents have for their children.

Despite these factors, it is still possible to give your children the best education if well planned. We have listed 3 smarts ways every parent can plan for their children’s education, to guarantee them seeing their children in the beautiful graduation gown.

Start early

Planning for your child’s education is a long-term financial goal. The best time to start planning for your child’s future needs is when he or she is born. Assuming your child will go to the University at the age of 18, you will have nearly two decades to create the right-sized fund for your child’s need. The effect of compounded growth will allow you to achieve this goal with small, monthly contributions.

Diligently choose the right school

Children will mostly likely spend more time in school than at home, parents should be diligent when choosing a school for their children/ward.

The type of school a child/ward goes will have a great impact in the life of the child/ward. Before you settle for a school, you should consider the vision, mission and culture of the school to see if it they align with what you want for your child. You also need to fact check from people associated with that school, such as parents who already have their children enrolled in that school to hear what they have to say about the school

Set up an EduTrust

An edutrust is a legal agreement where money is put aside for the sole purpose of educating the children, irrespective of whatever, untold events the future holds.  It is aimed at assisting parents and guardians in securing uninterrupted education for their child(ren) or ward(s).

As a parent, this trust enables you to provide for the education of named beneficiaries. The standard, level of education is determined by you, subject to adequacy of funds in the Trust account. The Trust can comprise of a lifestyle component to provide for other needs of beneficiaries such as vacations, excursions, school trips etc.

We will love to celebrate you and your kids as they graduate from their dream schools. Get started on making that graduation smile a reality today by setting up  an education trust for your child here

What Exactly Does Next of Kin Mean?

You most likely do not need to think about it anymore, you already know whose name to write every time you are required to name your Next of Kin. But have you ever thought about it? When you name a person Next of Kin, how much authority are you giving to that person, what should you expect of them, what are they empowered to do?

What exactly does ‘Next of Kin’ mean?

The term “Next of kin” refers to your nearest relation according to law, someone to be called upon in case of any eventuality. A next of kin can be a spouse, child or relation. It should however be noted that a next of kin is not necessarily the person intended as direct beneficiary of the deceased’s estate or entitlement.

Your ‘Next of Kin’ is…

  • The first contact point if anything happens to you
  • Empowered to make decisions for you in times of emergency, where you are not readily available or able to make the decisions yourself.
  • Empowered to provide necessary information about you where needed such as confirming your identity
  • Positioned to make medical decisions such as providing consent for a medical procedure

Your ‘Next of Kin’ is NOT…

  • In any way entitled to inherit your estate if anything happens to you
  • Automatically qualified to inherit your wealth
  • Superior to the beneficiaries named in a Will
  • Exempted from the legal processes and laws of inheritance

What can the ‘Next of Kin’ do in case of demise?

Regarding demise and claim of the deceased’s estate, the Next of Kin does not really have legal authority. At best, he or she can ensure that necessary steps are taken towards obtaining letter of administration from the probate.

The way to secure your estate and decide who gets what is to set up a Will or a Trust. Your Pension funds for instance will not be automatically transferred to your next of kin, except he/she is named as beneficiary in your RSA Will. Where there is no RSA Will, the next of Kin mentioned in the Pension Fund Account or any other relation legally recognized must secure grant of probate in order to access the funds in the Pension Account.

I Am Young, Do I Need A Will?

Who needs a Will when they’re young?

Ever struggled with the idea of creating a Will? This article is for you.

For most young persons, writing a Will is for “old people.” It is stuff they shouldn’t bother with because why think about death when they still have their whole life ahead of them?

Let’s dive into this:

What’s a Will?

A Will is a legal document that explains how your assets get distributed after your demise.

Simply put, setting up a legal binding Will helps you keeps your assets out of the hands of people you don’t like. Well…except you’re okay leaving your loved ones at the mercy of vultures. That’s up to you.

Who needs a Will?

Wills are not just for wealthy people or divorced people or married people. They are for ADULTS. Are you 18 years old, mentally stable, have acquired some assets, and have loved ones you deeply care about? You need a Will. Still confused about who needs a will? Read further here

What happens if you don’t have a Will?

Dying without leaving a Will behind can create trouble for your loved ones. They might be plunged into quarrels and emotional drama either amongst themselves or from external bodies that might want to claim your properties.

Secondly, your assets might end up in court, and the court will then determine who distributes your resources. This is called Dying Intestate. The person appointed by the court to distribute your properties is called an Executor. The Executor might be a person you don’t like or trust, and he/she might even distribute your assets in a manner that doesn’t sit right with you. Anyway, what can you do? You’re already dead! Lol.

Thirdly, without a Will, your legacy is left to chance. Let’s say you normally finance an NGO, or you have a pet; without a Will, those things might become a thing of the past.

Now to the favorite part, a Will enables you to give specific instructions about how you want to be buried or remembered. If you don’t like an extravagant burial, you can state that in your Will and your wishes will be respected. If you want to be extra, you can demand to be cremated and your ashes packaged in a bottle, so family members can take the bottle with them every vacation or game night. That way you get to be dead and still feature at functions. See?

How can you create a Will?

It’s very simple, can be created online and in 30 minutes. Again, there’s already a template you can follow, so you don’t need hours of drafting. When you’re done writing, you download it. That’s all!  This type of Will is called EasyWill. It can be done in your own time and speed.

What must your Will contain?

Your name, occupation, residential address, and date the document was created

You need to be clear that it is your “Last Will and Testament.”

List your Executor or Executors. The extra executors are called Co-Executors. You can also appoint an Alternate Executor. These ones stand in, if your first choice is unavailable or dies before you do.

List your assets. Everything you own should be listed. They could even be artworks, buildings, etc. The only assets you’re not permitted to list are the ones you jointly own because the co-owner automatically inherits those on your demise.

Mention your beneficiaries. Your beneficiaries are those who will inherit your assets in the case of eventuality. If you have pets or charity projects, nominate guardians for them and ensure the financials are discussed.  If you have kids, you can set up an Education Trust Fund for them. That way, you’re sure their education will continue regardless of your availability.

How can your Will be executed?

To ensure your Will is legally binding, it must be signed by you and witnessed by two neutral people. Their signatures of these people show that the Will is authentic.

Can a Will be updated?

Yes, a Will can be updated when you acquire new assets, if any of your witnesses dies, or if your marital status changes.

How should a Will be kept?

As a confidential document, it should be confined to a place only known to the beneficiaries and executors because it is meant to be confidential until the testator dies.

ARM wins International Innovation Award

Asset and Resource Management Holding Company (ARM) has won the Rising Stars Award at the 7th edition of the prestigious annual Corporate Startup Stars Awards (CSS) held in London for exemplifying best practices in corporate-startup collaboration, encouraging growth, fostering innovation and investment readiness among tech startups in Nigeria and across Africa.

This award was given to ARM in recognition of their impact and contributions to the startup community through the creation of such innovative programs as Labs by ARM, ARM Labs Lagos Techstars Accelerator Program, and the Deji Alli ARM Young Talent Award. Receiving this award for the second time since 2020, ARM Holdings Co. is proud to be one of only two companies in Africa to be recognized with this international innovation award.

Receiving the award on behalf of ARM, Sadiq Mohamed – Deputy CEO of the group, said, “We are honored to receive this recognition, and we remain committed to driving innovation and helping startups with disruptive ideas in the African FinTech space, make a remarkable impact as they meet needs within the ecosystem. Being acknowledged globally for our work is very humbling, and it motivates us to do more to champion and promote innovation in Nigeria and across Africa. ARM’s programs have helped several startups succeed, and we look forward to assisting more Fintech and PropTech startups in their efforts to make a difference on the continent.”

Left - Right: Candace Johnson, ICC Executive Board Member, Vice Chair of the ICC Policy Commission and Chair of the Corporate Startup Stars Judging Committee and Sadiq Mohammed - Deputy Group CEO of ARM Holding Company.

The Corporate Startup Stars Awards is an international award organized by Mind the Bridge in collaboration with the International Chamber of Commerce (ICC) and is aimed at recognizing and celebrating trailblazing international companies in the area of corporate-startup support and collaboration.

Speaking at the event this year, the Chairman of Mind the Bridge – Alberto Onetti, said, “open innovation is no longer a black box, it’s fast becoming ubiquitous. Back in 2016, when we first launched the Corporate Startup Stars Awards, the goal was to shed light on a fast-emerging phenomenon. Today, six years later, companies have gathered experience and focus on results. Although the modes of collaboration are in continuous evolution, there are best practices that are arising as well as KPIs for measuring impact.”

In this regard, ARM Holdings Co. is one of a few companies that has demonstrated a commitment to helping startups thrive through financial support, mentorship, and resources such as office space and networking opportunities. Through its long history of innovation and excellence, the company has managed to stay ahead of the curve and build a successful business by leveraging its culture of innovation to simplify processes and impact the quality of people’s lives and society in general.

On the honor of receiving this award, ARM Holdings Co. has pledged its commitment to promoting innovation in the startup community and creating vibrant platforms that enable proper growth potential for young startups.

DAAYTA 2023

Apply here

ARM in partnership with TechnoVision (TVC) announces that the 2023 edition of the Deji Alli ARM Young Talent Award (DAAYTA) finalists pitch event will be held virtually on April 14th, 2023.

This notice officially opens up the call for applications for DAAYTA 2023 as ARM seeks the brightest and most innovative start-up business ideas in Nigeria to participate in this edition.

Interested entrepreneurs can apply here

The Deji Alli ARM Young Talent Award (DAAYTA) programme is a youth awards initiative founded in 2015 by ARM in honour of its founding CEO, Deji Alli. The goal of the award is to provide support to young entrepreneurs who have smart and innovative ideas that make a significant positive impact on the lives of the people and communities around them. The initiative is in line with the firm’s commitment to Corporate Social Responsibility (CSR) with the aim of building a generation of change leaders, working together to build a better future.

DAAYTA 2023 focuses on identifying start-ups with a minimum viable product (MVP) and at least one customer.

The winner of the DAAYTA 2023 will receive funding of ₦12,000,000 (twelve million naira) over a period of one (1) year to; develop their business plan, complete an entrepreneurial education at the Pan Atlantic University’s Enterprise Development Centre in Lagos, Nigeria; and finance a 5-month acceleration support to develop their venture via a reputable entrepreneurial hub also in Lagos.

The DAAYTA Award which is in its fifth edition following a successful pilot edition in 2015 is coordinated by TechnoVision Communications LLC.

About ARM

Established in 1994 as an asset management firm, Asset & Resource Management Holding Company Limited (ARM) has evolved into one of Nigeria’s most innovative and respected non-bank financial institutions focusing on Traditional Asset Management and Specialized Funds.

ARM is a leading investment management firm that provides a diverse range of asset management services to a substantial and diversified client base that includes corporations, foundations and charities, high net-worth individuals, and small savers. See arm.com.ng for more details.

About TechnoVision

TechnoVision is the brand name for TechnoVision Communications Limited, a technology services company that advises clients on technology-led transformation and early-stage entrepreneurship in Africa. See tvcng.com for more details.

Apply here

ARM Labs Innovation Program – Demo Day

ARM Group in partnership with Greentec Capital Partners is delighted to announce the Demo Day for the ARM Labs Innovation program.

Formerly known as LABS by ARM Accelerator Programme, the initiative designed to support ARM’s mission to fund compelling Nigerian Fintech start-ups in the incubation stage, will virtually hold this Thursday, September 22, 2022.

Having gone through a robust accelerator Programme which includes working with a Silicon Valley mentor within their domain expertise, the selected startups are ready to pitch their business models to investors.
Selected startups for the ARM Labs Innovation Demo Day include:

Save the date to join

Toju: a record management platform for thrift collectors, Microfinance Institutions, and Cooperative societies.

Regxta: a digital credit platform that provides quick and easy access to financial services for unbanked people and micro-business owners in Africa. With just a smartphone, a community agent can offer financial products to clients.

Crediometer: A Fintech created to build banking for startups and growing businesses of all sizes. They aim to power the next generation of companies shaping the industries.

Trade Lenda: a technological solution providing accessible financing to small businesses across Africa.

Keble: A Proptech designed to break the barriers faced by young Africans in the real estate market. With this platform, Africans can own properties and build wealth for as low as $10.

We are excited to have worked with these startups in the past 7 weeks and we believe that the Demo Day will be a wonderful display of their hard work and passion, as well as a chance for us to picture what the future holds for each and everyone of them.

Save the date to join

Applications Open for ARM Labs Lagos Techstars Accelerator Program

ARM Labs Lagos Techstars Accelerator Program
Applications are now open to early-stage entrepreneurs in Africa for the inaugural edition of the ARM Labs Lagos Techstars Accelerator Program.

LAGOS, Nigeria (June 6th, 2022) – ARM in partnership with Techstars for the ARM Labs Lagos Techstars Accelerator Program calls for applications for the inaugural edition of the program. The accelerator is a 3-month intense training program set to kick off in Lagos state by December 2022.

Following the announcement of the ARM Labs Lagos Techstars accelerator launch, applications are now open for early-stage fintech and proptech start-ups based in Africa from June 6th – to August 24th, 2022. At the end of the application process, 12 start-ups will be selected for the program. The inaugural class will commence on the 5th of December 2022 and conclude with a Demo Day scheduled for the 16th of March 2023.

During the training program, selected start-ups will have access to Techstars’ vast network of 7,000+ mentors, 20,000+ investors, over 10,000 founders, alumni, and corporate partners. Other benefits include up to $120k in funding, curated start-up programming, one-on-one mentorship sessions, access to a Lagos office space and to future Techstars events.

The first month will be dedicated to aggressive and hands-on training with mentors to help selected founders refine their products. After the execution stage in the second month, the final phase will largely be focused on helping start-ups refine their financial strategies.

Apply now

About ARM

Established in 1994, ARM is a leading Nigerian diversified and integrated asset management group firm that offers wealth creation solutions and opportunities through a unique blend of traditional asset management and alternative investment services to retail, high net worth and institutional investors. ARM Labs is our fintech support programme designed to facilitate and encourage innovative growth in the financial services industry. ARM currently manages total assets of approximately N1.6 trillion (as of December 2021). www.arm.com.ng

About Techstars

The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting start-ups, investors, corporations, and cities to help build thriving start-up communities. www.techstars.com

Apply now

ARM SET TO BREAK LIMITATIONS AMONG STARTUPS IN AFRICA

It is no news that Africa is the latest hotbed for technology startups and tech entrepreneurs. We can attribute this to the explosive growth of the continent’s population, its “youthful” might, and most importantly, the rise of challenges that can be solved by the application of emerging technologies spearheaded by these startups. 

Truly, the major reason for the existence of startups is to solve problems, and currently, Africa as a developing continent is fraught with a lot of challenges that need solutions, ranging from healthcare, financial services, education, energy, and the provision of  basic amenities. Indeed, the startup ecosystem in Africa just got more interesting. 

However, most startups in Africa are crippled with limitations of all kinds, top of which is funding. Many have failed and their cutting-edge innovative ideas driven into extinction because of lack of funding. Finance is a topmost priority if startups will make their mark in the market, and without funding, important concerns like hiring good hands, securing recognition, partnerships and visibility would remain unsolved. This will further hamper the focus of these organisations on their primary agenda- to solve problems with technology.

 

Introducing ARM Labs Lagos Techstars Accelerator Program

This is where the marriage between ARM and Techstars come in.

The ARM Lab Lagos Techstars Accelerator Program is focused on bridging the “funding” gap between fintech startups and proptech companies across Africa. Selected startups will get access to the capital needed to enhance the effectiveness of their respective businesses. Put simply, money will be placed in the hands of the right people to solve their basic business problems, so they can focus on the bigger fishes they have to fry – using technology to provide services that make life easier for others.

ARM Labs Lagos Techstars Accelerator Program will also provide the selected startups with access to mentorships, partnerships, and customised programming because success means going the entire nine yards. These startups need investors who are not just offering money, but expertise, wealth of experience, sense of direction and support, in every way possible.

Speaking about this partnership, Jumoke Ogundare- the CEO of ARM said “our partnership with Techstars is the logical next step in propelling the African continent to become the future global capital of fintech and transform how Africans access financial services.”

ARM announces the winner of N12M in the Deji Alli ARM Young Talent Award (DAAYTA) 2022

ARM has announced the winner of the Deji Alli ARM Young Talent Award (DAAYTA) 2022 programme at the finalists’ pitch event which was held on the 8th of April, 2022.

Tunde Adeyemi of D-Olivette Enterprise emerged winner out of seven contestants to claim the N12million grant. His business idea – D-Olivette is a social enterprise that is accelerating the advent of sustainable domestic biogas biodigester for clean cooking, electrification, and sustainable agriculture. The enterprise is doing this through the provision of domestic biodigesters innovation exclusively designed to convert household, farm organic waste & biodegradable wastewater into fertilizer and biogas within ten (10) days.

DAAYTA 2022 focused on start-ups with a minimum viable product (MVP) and at least one customer. Four hundred and twenty-five (425) applications from start-up entrepreneurs were received and following a meticulous review process, the top 6 contestants were identified and chosen. These six made their pitches at the event in the hope of winning the N12 million grant.

The top 6 finalists were: Tunde Adeyemi of D-Olivette – a social enterprise accelerating the advent of sustainable domestic biogas biodigester for clean cooking, electrification, and sustainable agriculture through the provision of domestic biodigesters innovation exclusively designed to convert household, farm organic waste & biodegradable wastewater into fertilizer and biogas; Emmanuel Ezenwere of Arone Energy whose goal is to solve Nigeria’s long-term energy crisis with unreliable power supply and CO2 emissions from generators; Onyinye Oguego of myStash Technologies which helps Africans save and invest subconsciously through a save-as-you-spend/earn model; Oluwatomisin Kolawole of Vinsighte Limited whose solution is aimed at providing sight to those with blindness through a designed assistive reading solution called Visis; Oluseyi Lukman Fadaiya of Celloop Limited whose solution is a digital platform that recovers end of life battery cells and processes them for a second life usage; Boluwatife Omotayo of Gamp Technology Limited whose business idea aims to provide ease of affordable service delivery to device consumers through OEMs; Rasheed Aliu of Arleegreens Renewable Enterprise whose solution is the Green box – a cheaper solution that treats toilet human waste into odorless, and clean reusable water to be reused in these communities.

Speaking about the occasion, the Executive Director (ED) of ARM Pensions, Osahan Ogiemuda said, “I say a big congratulations to the winner Tunde Adeyemi of D-Olivette Enterprise and all runners up. We believe that they all have what it takes to make a sustainable impact in their communities. I also appreciate the entire team and partners who have supported this initiative to ensure that we achieve our goal of enabling young entrepreneurs with innovative ideas to change the narrative in their various communities.”

The team of judges who delivered the sound judgment was: Dr. Ndidi Nnoli-Edozien – an Angel investor who has dedicated a significant part of her life to building bridges between large businesses and entrepreneurs, helping thousands of people at the bottom of the economic pyramid (BOP) in Nigeria live better lives; Kola Aina, founding Partner at Ventures Platform, an avid angel investor and mentor to startup founders; Sadiq Mohammed, Deputy Group CEO of ARM Group; Folashade Olusanya, a Partner at Jackson Etti & Edu, Victor Asemota, the Africa Partner for Alta Global Ventures, a US-based venture capital company, and Ina Alogwu, Digital Transformation Director ARM Group.

About ARM

Established in 1994, ARM is a leading Nigerian diversified and integrated asset management group firm that offers wealth creation solutions and opportunities through a unique blend of traditional asset management and alternative investment services to retail, high net worth, and institutional investors.  ARM currently manages total assets of approximately N1.6 trillion (as of December 2021) http://www.arm.com.ng/

About TechnoVision 

TechnoVision is the brand name for TechnoVision Communications Limited a technology services company that advises clients on technology-led transformation and early-stage entrepreneurship in Africa. See http://tvcng.com/ for more details.

 

Techstars Launches ARM Labs Techstars Accelerator in Lagos

12 startups will be selected to receive funding, hands-on mentorship, and access to the Techstars worldwide network on an annual basis

Techstars, a global investment business that provides access to capital, one-on-one mentorship, and customized programming for early-stage entrepreneurs, in partnership with ARM Labs, a Lagos-based innovation program focused on helping fintech startups, announces the launch of the ARM Labs Lagos Techstars Accelerator Program. The new accelerator program will focus on investing in early-stage fintech and proptech companies based in Africa. 

“Lagos has built a successful startup ecosystem that merits more global exposure, investments and resources, and we see extraordinary potential in the market,” said Nancy Wolff, general manager at Techstars. “Techstars has been investing in Nigerian and African startups for years, and through our partnership with ARM Labs we look forward to bringing the value and reach of the Techstars’ global network to the increasingly prominent Nigerian startup ecosystem.”

The choice of Lagos, Nigeria for the location of this accelerator program is the result of the growing global relevance of Nigeria’s startup ecosystem. Global venture capital investment data shows Lagos is one of the fastest growing ecosystems worldwide and the number one African startup city as of 2021.

“Over the years, ARM has been on a mission to support African fintech startups that are solving key problems in innovative ways,” said Jumoke Ogundare, CEO of ARM. “Our partnership with Techstars is the logical next step in propelling the African continent to become the future global capital of fintech and transform how Africans access financial services.”

The ARM Labs Lagos Techstars Accelerator will receive applications this June through August. Up to 12 startups will be selected on an annual basis to participate in the program and benefit from up to $120k in funding, curated startup programming, and access to Techstars’ vast network of 7,000+ mentors, 20,000+ investors, alumni, and corporate partners. The program’s inaugural class will commence in December 2022 and culminate in a Demo Day in March 2023.

Techstars has been active in the African tech space since 2011, hosting more than 400 Techstars Startup Weekends across 40 countries, and operating the Barclays Accelerator Powered by Techstars Cape Townin 2016 and 2017.  Similarly, through its other programs, it has invested in 14 Nigeria-based startups like Healthtracka, FarmCrowdy and Rent Small Small. A notable Nigerian Techstars alumnus is Onyeka Akumah, two-time Techstars founder and current Co-Founder and CEO of Treepz (formerly Plentywaka).

In 2017 Akumah participated in Techstars Atlanta while building his first startup FarmCrowdy. Two years later, his new venture Treepz, Nigeria’s first bus-hailing app, was selected for Techstars Toronto. Following Akumah’s participation in Techstars Toronto, Treepz expanded to operate in Ghana and Uganda, grew from 900 to 7,500+ bookings per day, and nearly tripled in employee size. To date the company has completed over 1 million bookings and raised $3 million in funding.

This new program furthers Techstars’ mission to support entrepreneurs everywhere and give startups the advantages they need to succeed, regardless of their location or background. Startups are encouraged to learn more about the ARM Labs Lagos Techstars Accelerator and explore Techstars’ many global accelerator programs at techstars.com/accelerators. Corporations and investors interested in partnership opportunities with Techstars can learn more at techstars.com/corporations.

About ARM

Established in 1994, ARM is a leading Nigerian diversified and integrated asset management group firm that offers wealth creation solutions and opportunities through a unique blend of traditional asset management and alternative investment services to retail, high net worth and institutional investors. ARM Labs is our fintech support programme designed to facilitate and encourage innovative growth in the financial services industry. ARM currently manages total assets of approximately N1.6 trillion (as of December 2021)  www.arm.com.ng

About Techstars

The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 3,000 companies with a combined market cap of more than $172B. www.techstars.com