Federal Government of Nigeria Subscribes to the ₦150 Billion Series 1 Issuance of MREIF to Address Nigeria’s Housing Deficit

ARM Investment Managers (ARM), at the inauguration ceremony for the newly approved MREIF fund.
ARM Investment Managers (ARM), at the inauguration ceremony for the newly approved MREIF fund.

The Federal Government of Nigeria, through the Ministry of Finance Incorporated (MOFI), has fully subscribed to the Series 1 issuance of ₦150 billion for the Real Estate Investment Fund (MREIF), a landmark initiative designed to address the nation’s housing deficit and stimulate economic activity in the real estate and construction sectors.

The full subscription to the Series 1 Fund underscores the Federal Government’s pivotal role as the sponsor while empowering the private sector to lead the implementation and management of the initiative. By seeding the fund with ₦150 billion, the Federal Government has laid a strong foundation for MREIF’s success, ensuring its sustainability and long-term impact under the stewardship of private sector expertise.

ARM Investment Managers (ARM), the appointed Fund Manager for MREIF, will oversee the deployment of funds to provide long-term, low-cost mortgage financing for homeowners and offtake guarantees for developers. These measures are set to ensure the improvement in homeownership and the timely delivery of quality, affordable housing across Nigeria while boosting economic growth.

MREIF aims to transform Nigeria’s housing landscape by facilitating access to low-cost, long-term mortgages for aspiring homeowners. The Fund also has the objective of incentivizing real estate developers through offtake guarantees to raise funding for the construction of affordable housing units as well as stimulating job creation and boosting economic activity in the construction and real estate industries.

With the successful subscription of the entire ₦150 billion in Series 1 issuance and the allotment of 100% of the units to MOFI, the Series 2 issuance of ₦100 billion will be open for private and commercial investors, subject to the Securities and Exchange Commission’s approval. This is a unique opportunity for institutional investors, high-net-worth individuals, and other private stakeholders to participate in a transformative initiative that promises both economic impact and competitive financial returns.

By investing in MREIF, private investors will be supporting the improvement of homeownership in Nigeria, while also benefiting from:

  • Attractive returns on investment.
  • Diversification of their portfolios with a focus on impact-driven projects.
  • Contribution to Nigeria’s economic growth and housing solutions.
  • Alignment with the United Nation’s Sustainable Development Goals (SDGs).

The Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) is an initiative of President Bola Tinubu’s vision, championed by the Honorable Minister of Finance and coordinating Minister of the Economy, Mr. Wale Edun, to improve homeownership and spur inclusive economic development.

ARM Labs Celebrates Rana Selection for Google for Startups Accelerator Africa

Google for Startups

The African tech ecosystem is a hub of innovation, driven by startups tackling local and global challenges with tenacity and creativity. This vibrant energy, marked by a new wave of tech-savvy entrepreneurs, drives economic growth and envisions a brighter future for the continent.

At ARM Labs, we are immensely proud of our cohort members who continue to embody this spirit of innovation. Today, we are excited to announce that Rana Energy, a standout from the Techstars accelerator program, has been selected to join the prestigious Google for Startups Accelerator Africa: Class 8.

Rana Energy is revolutionizing the clean energy sector by providing reliable energy solutions to SMEs and communities through a data-driven ecosystem. Their innovative approach is not only transforming how businesses access energy but also contributing to sustainable economic growth across the continent.

Since 2018, the Google for Startups Accelerator Africa program has been a committed ally to dynamic startups like Rana Energy. The program has played a vital role in supporting startups as they harness the power of technology to address some of Africa’s most pressing challenges.

Google for Startups

From July 29th to September 20th, 2024, Rana Energy, along with nine other exceptional startups from Kenya, Nigeria, Rwanda, and South Africa, will embark on a journey of accelerated growth. The program offers:

  • Mentorship: Direct access to the expertise of Google mentors and seasoned entrepreneurs who have navigated the startup path.
  • Technical Workshops: Opportunities to refine products, hone business strategies, and strengthen leadership skills.
  • Funding Access: Preparation for securing follow-on funding from Google’s global network of investors.

As Rana Energy takes this next step, we are reminded of the importance of nurturing and supporting innovative startups. At ARM Labs, our commitment to fostering groundbreaking solutions remains stronger than ever. We believe that by empowering startups like Rana Energy, we are investing in a future where innovation thrives and technology uplifts communities across Africa.

Tariye Gbadegesin Appointed CEO Of The Climate Investment Funds

The Trust Fund Committee of the Climate Investment Funds (CIF) announced today the appointment of Tariye Gbadegesin as Chief Executive Officer, effective March 2024. Tariye will lead one of the world’s largest multilateral climate funds with over $11Bn pledged, pioneering clean energy transitions, nature-based solutions and resilience in over 70 developing countries.

She joins CIF after holding leadership positions in infrastructure and climate finance as the CEO of ARM-Harith Infrastructure Investments, a leading Pan-African infrastructure fund investing in energy transition and climate resilient infrastructure, and as the Co-Chair of the Voluntary Carbon Markets Integrity Initiative (VCMI), an international organization enabling high-integrity voluntary carbon markets for climate action.  

Tariye is a seasoned climate finance executive with over 20 years of experience investing in emerging markets and developing economies, including significant experience in mobilizing private capital for climate action and supporting policy design for energy transition finance and implementation. In her recent career, she has structured and delivered over $3bn in large-scale energy, infrastructure and industrial investments and has designed and structured multiple complex blended finance funds, platforms, and syndications, mobilizing capital from the private sector, multilateral development banks and concessional windows.

Previously, she worked at the International Monetary Fund, the Boston Consulting Group, Price Waterhouse Coopers, and the Africa Finance Corporation.

Tariye has served as an advisor on multiple climate and economic development organizations including as member of the Climate Policy Initiative’s (CPI) Global Innovation Lab for Climate Finance; the Infrastructure Advisory Committee for the United Nations Principles for Responsible Investing (PRI); the African Advisory Board of the Glasgow Financial Alliance for Net Zero (GFANZ); and the Advisory Council of the Millennium Challenge Corporation (MCC).

A US and Nigerian national, Tariye holds a bachelor’s degree in economics from Amherst College and an MBA from Harvard Business School.

“I am deeply honored to join the Climate Investment Funds to accelerate collective climate action. Developing countries are at the forefront of the climate crisis, and we will only meet this decisive moment by working together to scale climate finance where it is needed most,” said Tariye Gbadegesin. “This is an exciting time for the global community, as we seek to build a multilateral system fit for purpose to keep 1.5C alive while lifting millions out of poverty. With six multilateral development bank partners and 15 years of experience delivering pioneering climate finance, CIF is uniquely placed to deliver in this new era.”

CIF Trust Fund Committee Co-Chairs, Bob Natifu of Uganda and Edward Webber of the United Kingdom, noted that this appointment, decided by consensus of all committee members, comes at a critical time. Tariye Gbadegesin was selected following a highly competitive international recruitment process featuring outstanding global climate leaders. “Tariye is a trailblazer, a strategic thinker and relationship-builder with deep expertise, knowledge and experience in climate finance,” they said. “We have no time to lose, and she brings the drive and vision needed to deliver now for our planet.”  

The Trust Fund Committee Co-Chairs also expressed their gratitude to Luis Tineo, CIF’s interim CEO, for his steady leadership during the transition phase. Luis will continue as Interim CEO until March 2024.

Tariye Gbadegesin replaces Mafalda Duarte, who left in July 2023 to lead the Green Climate Fund.

Source: www.cif.org

ARM Wraps Up DAAYTA 2023 Announces Winner Of ₦12m Grant

The fifth edition of the Deji Alli ARM Young Talent Award (DAAYTA) program came to a successful conclusion through a virtual pitch event, and Captain Natima Opuiyo of Natibo Technologies emerged as winner of N12 million grant.

The program was established in honor of ARM’s founding CEO, Deji Alli, to support young entrepreneurs with innovative and sustainable ideas capable of impacting society positively. After a rigorous review of over 450 applications from start-up entrepreneurs across Nigeria, seven outstanding companies were selected to pitch their ideas. The selected startups were Cdial Limited, Moon Innovations, Natibo Technologies Nigeria Limited, Sakula Limited, StackJunior, Strich, Inc., and ThinkBikes Limited.

The finalists delivered captivating pitches, demonstrating their ingenuity and the potential of their technologies to disrupt various industries. A panel of judges, comprising industry experts, entrepreneurs, venture capitalists, tech enthusiasts, and seasoned professionals, evaluated the pitches and selected the winner. The winner of DAAYTA 2023 received funding of ₦12,000,000 (twelve million naira) over a period of one (1) year for the following purposes: development of business plan, completing of an entrepreneurial education at the Pan Atlantic University’s Enterprise Development Centre (EDC) in Lagos, Nigeria, and receiving 5-month acceleration support for the development of their venture through a reputable entrepreneurial hub in Lagos, Nigeria.

The DAAYTA program is a testament to ARM’s commitment to supporting start-ups and providing them access to new markets. The virtual event held on April 14, 2023, witnessed enthusiastic participation from entrepreneurs, investors, and industry experts.

The CEO of ARM Group, Jumoke Ogundare, said in her opening remarks, “We are thrilled with the level of innovation and creativity displayed by the finalists of DAAYTA 2023. The ideas presented were truly exceptional, and we are excited to see how these young entrepreneurs will continue to positively impact their communities and contribute to the growth of the Nigerian economy.”

In addition, the CEO congratulated all the finalists and the winner of DAAYTA 2023, stressing that one of the major purposes of the program was to encourage collaboration within the DAAYTA alumni network.

A unique addition to the DAAYTA 2023 is the introduction of the DAAYTA Alumni Impact Award. The award was created to reaffirm the commitment to supporting the start-ups in the ecosystem and further deepening the relationship with the alumni through closer engagement, interaction, connections, and continuous support for their business growth.

The winners of the DAAYTA Alumni Impact Award were Fela Akinse, the founder of SALUBATA (DAAYTA 2021 edition), Boluwatife Omotayo, the founder of GAMP Technology, (DAAYTA 2022), and Uche Kenneth Udekwe, the founder of Natal Cares (DAAYTA 2021).

About ARM:

ARM is a leading investment management firm that provides diverse asset management services to a broad and diversified client base, including corporations, foundations and charities, high net-worth individuals, and small savers. 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.  For more information about ARM or the DAAYTA Program, visit 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. For more information about visit www.tvcng.com.

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.

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]

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Duplicated: 3 Smart Ways to

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 chi

Continue reading

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 chi

Continue reading

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

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

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