Connect with us

    Business

    Woodhall capital partners with Afreximbank to launch $25 million SME export boost in Nigeria

    Published

    on

    Woodhall Capital and Afreximbank unveil a $25M facility to support Nigerian SMEs, marking a significant step toward bridging export barriers in Africa.

     

     

    In a pivotal move aimed at empowering Nigerian small and medium enterprises (SMEs) for export, Woodhall Capital, a leading financial services firm, has partnered with the African Export–Import Bank (Afreximbank) to introduce a $25 million loan facility.

    This initiative, formalised at the first-ever Afreximbank SME Development Workshop and Stakeholder Engagement Programme in Lagos, signifies a vital step in enhancing market access for SMEs in Africa.

     

    Also read: AFRIFF 2023 to spotlight African cinema with 150 films, global networking events

     

    Held at the renowned Zinnia Hall, Eko Hotels & Suites, Lagos, the workshop, themed “Nurturing African SMEs: Bridging the Barriers to Export,” saw over 400 attendees, including industry leaders, financial institutions, and government officials.

    In opening remarks, Kanayo Awani, Executive Vice President of Intra-African Trade & Export Development (IAED) at Afreximbank, underscored the importance of the event in supporting Nigerian SMEs to embrace trade and drive continental development.

    “Collaborating with Woodhall Capital enables us to build up SMEs, which are the backbone of Africa’s economy. Beyond financing, this partnership aims to identify financial institutions capable of fostering SME growth,” Awani noted.

    With SMEs constituting 90% of business activity in Africa, Afreximbank has observed that financial access remains a major challenge.

    Awani highlighted that around 60% of SMEs struggle to obtain necessary financing, limiting their potential in both local and international markets.

    By providing affordable and accessible funding, this partnership intends to create lasting growth for African SMEs, she added.

    In his remarks, Nigeria’s Minister of State for Finance, Dr. Doris Uzoka-Anite, represented by Alhaji Shekarau Umar, Executive Director of MSMEs at the Bank of Industry, emphasised the role of Nigerian SMEs in regional development.

    “Nigeria’s vast SME population, exceeding that of 39 other African nations combined, demonstrates the strategic choice of Nigeria as the workshop’s host. Afreximbank’s role in facilitating SME access to cross-border trade is invaluable,” Dr. Uzoka-Anite remarked.

    Uzoka-Anite also called on attendees to focus beyond financial barriers and address critical issues like market access and capacity-building. “Funds provided to SMEs are impactful only when paired with training that enables long-term success,” she stated.

    A wide array of experts further contributed to the discussions, including Oluranti Doherty, Afreximbank’s Managing Director of Export Development; Dr. Olayemi Cardoso, Nigeria’s apex bank governor, represented by Dr. Blaise Ijebor, Director of Risk Management at the Central Bank of Nigeria; and Ody Akhanoba, Head of SME Development at Afreximbank.

    Also participating were Will Stevens, the US Consul General, represented by Daniele Jean-Pierre, Managing Director of Trade at Prosper Africa, and Fola Olowu, founder of Oriki Group, who discussed the African Growth and Opportunity Act (AGOA) and its benefits for SMEs.

    The workshop delivered a range of presentations aimed at equipping Nigerian SMEs with essential tools for scaling up export operations.

    Panel discussions focused on creating a supportive ecosystem for SME growth and improving finance accessibility for African SMEs, with valuable insights from key industry leaders.

    Speaking on Woodhall Capital’s journey, founder Mojisola Hunponu-Wusu explained how the firm evolved from a local entity into a global institution with Afreximbank’s support. “Afreximbank’s commitment allowed our small company to scale globally, underscoring the importance of guidance and training for any business,” she said.

    Highlighting the potential for African SMEs, Hunponu-Wusu encouraged participants to pursue success with a growth-oriented mindset.

    This collaboration between Woodhall Capital and Afreximbank symbolises a promising path forward for African SMEs, with the potential to transform the region’s economic landscape by bridging the financing and export barriers that have hindered SME growth across Africa.

    Business

    Velox Real Estate launches Rivers State’s first eco-friendly luxury resort estate

    Published

    on

     Velox Real Estate launches Rivers State’s first eco-friendly luxury resort estate, blending sustainability, urban living, and economic growth

     

    In a groundbreaking move that will redefine real estate and tourism in Rivers State, Velox Real Estate & Investment Limited, led by visionary developer Akorvueze Nwakanma, has officially commenced construction on the region’s first world-class eco-friendly resort estate.

    Situated in the heart of Port Harcourt, this pioneering development is set to revolutionise urban living by seamlessly integrating luxury, sustainability, and economic advancement.

    The resort estate is the first of its kind in Rivers State, offering an exclusive residential and commercial hub designed to merge modern architectural excellence with nature’s tranquillity.

    With a strong emphasis on environmental sustainability, the development will feature cutting-edge green technologies, lush landscapes, and eco-friendly infrastructure, creating a perfect balance between urban sophistication and responsible living.

    Speaking at the project site alongside key industry stakeholders, Akorvueze Nwakanma reiterated his commitment to reshaping the state’s real estate sector and positioning Rivers State as a premier destination for high-end tourism.

    “This project is more than just an estate; it is a statement of intent, our pledge to redefine what is possible in urban development.

    We are creating a haven where business and leisure coexist, where innovation meets sustainability, and where Rivers State emerges as a trailblazer in eco-friendly holiday destinations,” he stated.

     

    The resort will include an array of premium amenities, such as:

    – Luxury residences
    – An artificial lake
    – A golf course
    – Greenhouse farms
    – A farm-to-table dining restaurant
    – State-of-the-art commercial spaces
    – Recreational hubs
    – Zero-carbon green zones

     

    With sustainability at its core, the estate will incorporate energy-efficient systems, eco-friendly building materials, and advanced water conservation techniques, setting a new benchmark for green real estate in Nigeria.

    Beyond its architectural brilliance, this project is expected to significantly boost Rivers State’s economy.

    By attracting high-value investors, creating job opportunities, and enhancing the region’s tourism sector, the development will elevate Port Harcourt’s global appeal as a centre for commerce, leisure, and sustainable living.

    As construction gains momentum, excitement is building among real estate investors, business leaders, and potential residents eager to be part of this transformative project.

    With Velox Real Estate at the helm, this eco-friendly luxury resort estate is not just a landmark development—it is a bold step toward a greener, more prosperous future for Rivers State.

    Continue Reading

    Business

    Export & Prosper Masterclass: Unlock U.S. market opportunities for Nigerian entrepreneurs

    Published

    on

    Export & Prosper Masterclass Lagos

    Join the Export & Prosper Masterclass in Lagos on 8 March 2025 to learn how to export legally and profitably to the U.S. Register now!

     

    Entrepreneurs, product owners, and Nigerian manufacturers eager to expand into the U.S. market now have the perfect opportunity to gain valuable insights at the **Export & Prosper Masterclass – Lagos Edition**, hosted by **USA Africa Business Hub**. This exclusive event, scheduled for **Saturday, 8 March 2025**, at **9:00 AM**, will take place at the **Manufacturers Association of Nigeria Centre (MAN Centre)** in Ikeja, Lagos.

    The masterclass aims to equip Nigerian entrepreneurs with the necessary knowledge and tools to successfully export their products to the United States while complying with U.S. regulations. Participants will learn how to export profitably, safely, and legally through expert-led sessions.

    **Gbenga Omotayo**, the **Founder of USAfrica Hub** and **USAfrica Business Expo**, will lead the event. Omotayo will guide attendees through critical topics such as navigating **U.S. export regulations** (FDA, USDA), proper **product packaging and labelling** for the U.S. market, and building relationships with verified U.S. distributors. He will also introduce expert tools and resources designed to help entrepreneurs expand their businesses.

    One of the unique features of the masterclass is the opportunity for Nigerian manufacturers, agri-food producers, and apparel designers to bring product samples for evaluation, offering a potential route to U.S. distribution deals. This is a rare chance to showcase products directly to experts and potential distributors.

    The event is **free of charge**, but **seats are limited**, and early registration is required to secure attendance. Interested participants can register at **www.tix.africa/exportandprosper** or contact the organisers via WhatsApp at **+1 (917) 826 3566** or **081 0375 7728**.

    Continue Reading

    Business

    ECOWAS Energy Information System workshop to strengthen regional energy data integration

    Published

    on

    ECOWAS Energy Information System workshop

    The 3rd annual ECOWAS Energy Information System workshop in Lagos aims to enhance energy data management and regional integration

     

    The 3rd annual workshop on ECOWAS Energy Information System is underway in Lagos, bringing together representatives from ECOWAS member states, ECOWAS specialised energy agencies (WAPP, ECREEE) and ECOWAS Directorate of Energy and Mines to enhance energy data management and integration across the region.

    Also read: ECOWAS food and cultural festival 2024 to address West Africa’s security challenges

    The four-day workshop, running from 25 to 28 February 2025, aims to reinforce Member states capacity, and improve the quality of energy data at national and regional level in order to address challenges in gathering energy statistics on supply, usage, and availability in West Africa.

    The ECOWAS Energy Information System (ECOWAS-EIS) was launched on 24 March 2023 in Bissau, Guinea-Bissau, to ensure the reliable collection, storage, and dissemination of energy data.

    ECOWAS developed this digital platform to better guide policymakers, investors, and researchers with accurate energy information.

    Speaking at the opening event, the Director of Energy and Mines at the ECOWAS Commission, Dabire Bayaornibè, highlighted the progress made in harmonising energy data collection.

    He noted that before the implementation of the ECOWAS-EIS, many member states lacked access to comprehensive energy information.

    Now, data on electricity access, energy production and consumption, energy infrastructure, energy efficiency etc. are available, enabling effective monitoring and planning.“In previous years, several member states struggled to track energy usage and outages.

    Today, through ECOWAS-EIS, we are improving access to accurate data, enhancing national energy information systems, and strengthening regional integration,” Bayaornibè said.

    Nigeria has already set an example by launching its National Energy Information System (NEIS) in October 2024 following a support from ECOWAS Commission through development of the computerized data collection system and training of national actors.

    The system provides real-time energy data, aiding the government and private sector in decision-making.Bayaornibè stated that ECOWAS aims to replicate Nigeria’s success across other member states.

    The Director-General of the Energy Commission of Nigeria, Dr Mustapha Abdullahi, represented by the Director of Energy Utilisation & Management, Engr. Mohammed Adam Mundu, described the workshop as a crucial step in consolidating three years of effort towards a unified ECOWAS Energy Information System.

    “The first workshop, held in Accra, Ghana, in 2022, provided an assessment of our energy information system. Côte d’Ivoire hosted the second edition in 2023, leading to improvements in data quality.

    This third workshop in Lagos now focuses on consolidating our progress and expanding the system across Member States,” he said.Guinea-Bissau’s Director of Energy Planning and Statistics, Mohammadu Saido Baldi, emphasised the importance of knowledge sharing.

    He noted that learning from the experiences of other nations would help improve Guinea-Bissau’s national energy database.“

    A well-structured energy information system is essential for developing informed policies and achieving long-term energy security,” Baldi stated.

    The ECOWAS Energy Information System workshop aligns with Priority Action 1.6 of the updated ECOWAS Energy Policy, which aims to improve governance and performance in the energy sector by enhancing data access and harmonisation.

    The initiative also supports the development of the West African Power Pool and the African Atlantic Gas Pipeline, further strengthening regional energy integration and economic growth.

    By ensuring a consolidated and reliable regional energy information system, ECOWAS is reinforcing its commitment to achieving Sustainable Development Goal 7 (SDG7) – access to affordable, reliable, sustainable, and modern energy for all.

    Continue Reading

    Trending