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Leke Alex Adedipe, Partner, DOA; Lloyd
Onanighon, Head TMT, Stanbic; Ijeoma Obatoyinbo, MD, FBN Quest Funds; Eghosa Omoigui, Echo VC; Idris Saliu, Co-Founder, Vanso; Mrs. David West, Director, Lagos Business School; Soibi Ovia, Partner, DOA; Niyi Duale, Managing Partner, DOA |
Legal,
TMT and Finance experts have called for more investment in the
telecommunication, Media and Technology, (TMT) sector in a bid to grow the
country’s GDP and create employment opportunities.
This call
is coming at a time when the country’s economy is currently propelled by crude
oil and the country is in dire need of more investments outside of this
resource.
is coming at a time when the country’s economy is currently propelled by crude
oil and the country is in dire need of more investments outside of this
resource.
Speaking
during the inaugural business series organised by Duale, Ovia & Alex-Adedipe,
(DOA) a fast-growing full-service commercial law firm providing expert legal
services in corporate commercial law and dispute resolution, Adeniyi Duale,
managing partner of the firm said Nigeria must collectively address the
inhibiting factors to attracting investment into the telecommunication,
FinTech, E-commerce and all other sectors of the economy that can help Nigeria
realise it’s full potential and not continually depend on oil as mainstay of
the economy.
during the inaugural business series organised by Duale, Ovia & Alex-Adedipe,
(DOA) a fast-growing full-service commercial law firm providing expert legal
services in corporate commercial law and dispute resolution, Adeniyi Duale,
managing partner of the firm said Nigeria must collectively address the
inhibiting factors to attracting investment into the telecommunication,
FinTech, E-commerce and all other sectors of the economy that can help Nigeria
realise it’s full potential and not continually depend on oil as mainstay of
the economy.
According
to him, in the last 10 years there have been increase in the number of
companies who have gotten funding from investors.
to him, in the last 10 years there have been increase in the number of
companies who have gotten funding from investors.
Duale
said “As at 2008, there were about four companies who had received funding
but today they are about 20 and we are grateful that your are panelist. We are
passionate about this industry and we are keen on supporting TMT companies from
inception through various stages of their growth and cycle (which range from
raising seed capital financing, early stage investments, growth capital as well
as exits).”
said “As at 2008, there were about four companies who had received funding
but today they are about 20 and we are grateful that your are panelist. We are
passionate about this industry and we are keen on supporting TMT companies from
inception through various stages of their growth and cycle (which range from
raising seed capital financing, early stage investments, growth capital as well
as exits).”
He
disclosed that DOA also assists investors in identifying and carrying out
proper legal diligence on targeted vehicles or companies in the sector as well
as providing structuring advice and documentation to give effect to
transactions.
disclosed that DOA also assists investors in identifying and carrying out
proper legal diligence on targeted vehicles or companies in the sector as well
as providing structuring advice and documentation to give effect to
transactions.
He noted
that the breakfast session which focuses on investments in Nigeria’s TMT market
is apt as it seeks to address development in Nigeria and Africa as a
whole.
that the breakfast session which focuses on investments in Nigeria’s TMT market
is apt as it seeks to address development in Nigeria and Africa as a
whole.
Duale
added that the inaugural edition of the DOA Business Breakfast Series seek to
stimulate discussions and resolutions that can generate possible roadmaps for
an industry that is itself disruptive and can assist the government’s growth
and recovery plan.
added that the inaugural edition of the DOA Business Breakfast Series seek to
stimulate discussions and resolutions that can generate possible roadmaps for
an industry that is itself disruptive and can assist the government’s growth
and recovery plan.
During
the panel session, Akintoye Akindele, Co-Founder, Synergy Capital Managers,
advised tech entrepreneurs to ensure investor engagements are very memorable
and have a proper business preposition.
the panel session, Akintoye Akindele, Co-Founder, Synergy Capital Managers,
advised tech entrepreneurs to ensure investor engagements are very memorable
and have a proper business preposition.
“You
must have a good business model and must be able to explain your business. You
must be sure of the capital you need to drive your business model. You must
also get the right people that will provide a legal framework around your
business idea,” Akindele added.
must have a good business model and must be able to explain your business. You
must be sure of the capital you need to drive your business model. You must
also get the right people that will provide a legal framework around your
business idea,” Akindele added.
Obinna Ekezie,
managing director, Wakanow, who also spoke during the panel session said Wakanow
saw an opportunity and decided to create value to customers.
managing director, Wakanow, who also spoke during the panel session said Wakanow
saw an opportunity and decided to create value to customers.
“We
identified lack of transparency, inability to make payment online and buy
tickets as fast as possible. So, we used technology to create solution. This
led to huge uptake for customers who needed these services,” Ekezie said.
identified lack of transparency, inability to make payment online and buy
tickets as fast as possible. So, we used technology to create solution. This
led to huge uptake for customers who needed these services,” Ekezie said.