Category: ARM Group

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.

ARM commences the ARM LABS INNOVATION PROGRAM

The ARM Group in partnership with Greentec Capital Partners announces the commencement of the ARM Labs Innovation program.

Formerly known as LABS by ARM Accelerator Program and recently changed to ARM Labs Innovation Program, the program is designed to support ARM’s mission to fund compelling Nigerian fintech startups in the incubation stage. These startups should be poised to solve key problems in innovative ways within the financial industry and introduce ideas that transform how users access and consume financial services.

Through this program, ARM will support the selected startups to commercialise and grow the distribution of products and services.

During this 7-week Innovation program, each FinTech startup will be engaged intensively in a series of activities including advisory and mentorship sessions amongst others, all aimed at exponentially advancing the growth of their companies within the short time frame.

The ARM Group will make an investment of $50,000 (fifty thousand dollars) for 6% equity to each of the 5 selected startups and provide them with office workspace as an additional benefit to assist with their business operations.

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Understanding Estate Planning

Having an estate plan is one of the most vital things you can consider for your loved ones. It can help you feel more at peace knowing that your loved ones will be taken care of and that the legacy you leave behind is that which you desire.

What is an estate plan?

An estate plan is a means of managing and preparing for the transfer of one’s assets during their lifetime while minimizing bureaucratic inefficiencies. It also sets how you want designated persons to deal with matters pertaining to your health or financial decisions if you are unable to do so during your lifetime.

It may appear daunting thinking about this, however, it is highly recommended that you start planning early enough. Like the saying goes “if you fail to plan, you plan to fail” as this can lead to unplanned difficulties for your loved ones.

Some myths around estate planning:

*Estate planning is only for high-net worth individuals.

Often times, people think they have to have acquired so many assets before having an estate plan in place. It is important to note that the size of your estate is not a deterrent into having a comprehensive plan. If you own things such as a car, bank account, retired savings account, stocks, jewelry, house, you actually have an estate.

You may also need to bear in mind that you can also update your estate plan upon the acquisition of further assets, so there is no real need to wait until you are wealthy to have a plan.

*I am too young for estate planning.

This ideology is wrong! As soon as you start to acquire assets and of legal age, you should start thinking of having a plan in place. It is also vital to have an estate plan if you have dependents as this is key in protecting their future.

*Once I have an estate plan I do not need to update same.

Planning is never a “once and done” proposition. As change is constant so is ones’ affairs, there will come a time where there may be significant acquisitions or changes, such as marriage, divorce, a new birth, new assets. It is important to periodically review and update your estate planning documents to reflect these changes overtime.

Estate Planning helps you accomplish the following:

Preserve assets for future generations.
Minimize taxes and expenses.
Ensure that individuals you choose can make decisions on your behalf in the event of your incapacity.
Ensure all your assets are distributed according to your wishes.
Minimize family dispute or conflict upon distribution of assets

Essential Estate Planning Tools:

Trust:- A Trust is a legal arrangement made during ones’ lifetime whereby an individual transfers asset to another individual referred to as a Trustee for the benefit for named persons also referred to as beneficiaries.
Will:- This is a legal document that sets out ones’ intention of how assets are to be distributed upon demise.
Financial Power of Attorney/Medical Power of Attorney:- This type of estate plan appoints a trusted family member or individual to act as an agent on ones’ behalf to take financial or medical decisions when incapacitated.

It is best to seek expert guidance, to ensure you take the right steps towards achieving your desires. At ARM Trustees Limited, our in-house experts can assist you regarding appropriate steps to ensure you have a seamless and effective Estate Plan.

Reach out to us on our numbers: 0700CALLARM ( 0700276364243)

And email: [email protected]

#IWD2022: Break The Bias – Women and Estate Planning

We commemorate the World International Women’s Day 2022 with the theme #BreaktheBias and this is indeed an auspicious one. Why? Because it is time we changed a lot of prejudices and preconceived ideas about women, particularly as it relates to estate planning and wealth transfer.

A bias can be described as a disproportionate weight in favor of or against an idea or thing, usually in a way that is closed-minded, prejudicial, or unfair.

In estate planning, there is a huge bias against the idea of women writing wills or planning their estates. In fact, there is a bias against the thought of a woman owning assets.

Very much prevalent is the societal stereotype that when a lady marries, she’s expected to support her spouse and raise children despite a growing number of women lending their voices to the elimination of this patriarchal view. It is believed that provision will be made for women from the husband’s estate while some religions do not permit a woman to own properties. The restriction on women owning assets have contributed to the increasing number of contentious estates and the women and children are left at the mercy of the surviving relatives where the spouse dies intestate. In some States where certain repugnant practises are still prevalent, the wife might be relocated from her comfortable lifestyle and be subjected to a demeaning lifestyle with her children when her husband passes.

For the unmarried lady, who either by choice or happenstance has found herself single, stories abound of how she earned her wealth despite the evidence available that she works hard and is a thoroughbred professional. A successful single lady is expected not to show off her material possessions due to the belief that this will put off men that might wish to approach her for marriage. In some cases, these ladies acquire the assets in the name of their brothers or fathers. If she builds a house, she is expected to tell everyone it’s rented, she shrinks and shrinks, to prevent a suitor from being intimidated by her wealth.

If the prejudice against womenowning assets and transferring their assets to their desired beneficiaries can be eliminated, we will have a society that is more accepting of women. A woman’s financial status should not be used as a yardstick to determine how submissive she is or will be in marriage.

However, because biases can be conscious and unconscious some women are also biased against the same gender- it comes under the guise of culture, tradition and practices. Girls are raised to ensure they acquire housekeeping skills and nurtured to act right and speak well to endear them to their future in-laws.

If we are to break the bias, it will necessitate the woman re-orienting herself and choosing to be successful, while carrying other women along.

Who will start? I hear you ask, “you and I”, I say. The husband who becomes kinder to his wife and realizes she doesn’t need his permission to be great but gives it anyway because society had made her shrink. The intelligent woman who finally takes her brains and credentials out of hibernation mode and steps out and steps up, to make money and to write a will, so as to leave a rich legacy for her desired beneficiaries.

You and I will start the process, we will recognize the bias, we will boldly stand up to it and we will stop it. The good thing is that, as we break this bias, we are consciously showing to other women what is possible and giving them permission to break it in their own lives and societies too.

Cheers to women having conversations about wealth building, wealth management, wealth preservation and most importantly wealth transfer in 2022 and thereafter.

This article was brought to you by ARM Trustees Limited

Contact ARM Trustees via email: [email protected] or call us 0700ARMENGAGE (0700 2763 64243) Visit our website on https://www.arm.com.ng/trustees/

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ARM Holding Company Ltd Renovates Onikan General Hospital’s COVID-19 Outpatient Clinic, Donates Medical Equipment

As part of our commitment to supporting the communities in which we conduct business, ARM Holding Company Limited, on the 4^th of December 2020, delivered to the Lagos State Government a renovated COVID-19 Outpatient Clinic section at the Onikan General Hospital, along with state-of-the-art medical equipment.

The donation is in support of the Lagos State Government’s effort against the COVID-19 pandemic.

Part of the medical equipment donated by ARM includes the Mirasol Pathogen Reduction Technology System, which is said to be the first of its kind in West Africa.

The Mirasol Pathogen Reduction Technology System for platelets and plasma uses riboflavin and UV light to introduce irreparable lesions into nucleic acids, thereby inhibiting pathogen and white blood cell replication and reducing the load of infectious pathogens.

Present at the official handing over and commissioning ceremony of the renovated health centre was the Lagos State Commissioner for Health, Prof Akin Abayomi, CEO and Deputy CEO of ARM Holding Company Limited, Ms Jumoke Ogundare and Mr Sadiq Muhammed, MD ARM Academy, Ms Uche Azubuike, Medical Director of Onikan General Hospital, Dr Biyi Kufo, and other staff of the hospital.

Speaking at the handing over and commissioning event, Group CEO of ARM Holding Company Limited, Ms Jumoke Ogundare emphasised the need for corporate organisations like ARM to stand with the Government in fighting the COVID-10 Pandemic.

She said, “This is an important initiative for us, and we are all aware of the havoc COVID 19 pandemic has caused, not only in Nigeria, but in other parts of the world, and therefore, it’s time for organisations like ARM to step up and do the right time in taking care of its community. So we are particularly pleased that we have been able to do this.

We hope this will make a big difference in ensuring that COVID-19 is completely eradicated in our community. Hopefully, going forward, this facility will be used for other things as well.”

In his keynote address, the Lagos State Commissioner for Health, Professor Akin Abayomi, thanked ARM for its continuous contribution and support to the state. He said the Mirasol Pathogen Reduction Technology System donated by ARM has been on the top of the state’s Wishlist for a long time. He said the system is the first of its kind in West Africa.

He said, “This is a very valuable contribution in many ways, and the Lagos State Government on behalf of incident commander, Mr Babajide Sanwo-Olu, we are very grateful to the corporate social response of ARM in the Lagos state COVID-19 strategy. This will go a long way in ensuring Lagos State completely eradicate the COVID-19 pandemic and ensure that our communities are safe for all of us”.

ARM wraps up DAAYTA 2021, announces winner of ₦12m grant

The finalists’ pitch event for the 2021 edition of the Deji Alli Young Talent Award (DAAYTA) programme held on April 9^th, 2021, with Tope Idris Sulaimon of Scrapays Technologies Limited emerging winner to claim the N12 million grant.

He expressed his excitement saying, “I am happy to be the winner of DAAYTA 2021. In addition to the funding, this opens more opportunities for our startup. Working with all the experienced partners increases our chances of reaching our set milestones, and that excites me even more.”

The Deji Alli Young Talent Award (DAAYTA) programme is a youth awards initiative founded in 2015 by ARM in honour of its founding CEO Deji Alli. The award’s goal is to provide support to young entrepreneurs with smart and innovative ideas that positively impact people’s lives and the communities around them.

The top 6 finalists were: Tope Idris Sulaimon with his idea, Scrapays Technologies Limited, a cleantech startup that uses technology to facilitate a decentralized recovery model of recyclable waste in developing nations; Eyitayo Ogunmola whose business idea is a solution called ‘The Nucleus’ because it is the brain box of every premium technology skill training; Akinse Fela Buyi of Salubata which produces modular shoes from plastic wastes; Udebuana Oscar Obiora of Edupoint Limited whose solution Edupoint leverages artificial intelligence to connect students with verified local teachers who deliver one-on-one lessons in any subject, or skill, to help students or learners meet their learning goals; Imodoye Ayokunbi Abioro of Healthbotics whose business solution Lend An Arm encourages the easy transportation of blood using a virtual robot and a mobile application; Uche Kenneth Udekwe with Natal Cares whose business idea seeks to bridge the healthcare information gap existing in underserved communities.

Speaking about the occasion, CEO of ARM Jumoke Ogundare said, “I’m glad to say that the event went well, and I say a big congratulations to the winner Tope Sulaimon of Scrapays Technologies Limited and all runners up. We believe that they all have what it takes to make a sustainable impact in their communities, and we can’t wait to start recording success stories as we have with the past winners of DAAYTA since its pilot edition in 2015. I also appreciate the entire team, sponsor, and partners who have supported this initiative to enable us to 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 were: 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 and Victor Asemota, the Africa Partner for Alta Global Ventures, a US-based venture capital company.

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 https://www.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 http://tvcng.com/ for more details.

Riparian Farms Limited Gives Back to The Community

On the 31st of March, Riparian Farms Limited, a subsidiary of Asset & Resource Management Holding Company (ARM HoldCo.), officially handed over the CSR projects initiated to improve the learning environment for the Baptist School, Tibo, and Baptist School, Olorunda, both in Abeokuta, Ogun State.

In 2020, Riparian Farms Limited (RFL), a subsidiary of ARM HoldCo, saw the need to embark on this initiative to provide a better toilet facility for the students and teachers at both schools in support of a more conducive and appealing learning environment and to improve the living standards for the community through the provision of potable water supply.

This initiative is part of ARM’s Corporate Social Responsibility (CSR) as an organization committed to building communities and supporting youth empowerment.

The Director, Riparian Farms Limited, Ms Uche Azubuike thanked the Ogun State Universal Basic Education Board (SUBEB) for their support in making this initiative a reality. She also added, “ We look forward to new opportunities to keep making a positive impact for as long as we operate within this region.”

Present at the official handing over and commissioning ceremony of the newly built restrooms and water supply system were H.R.H Oba Moses Adelani Adegboyega Olabode (RN, FWACN, MNI) Odunfa II, Omola of Imala-Land, Ogun State; Executive Director, Riparian Farms Limited, Mr. Theo Onadeko; Director, Riparian Farms Limited, Ms Uche Azubuike.

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