Bank of Industry Supports Companies – Director Shortlisted for Awards. How Are Startups Doing With Them?

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June 9, 2011

The Bank of Industry Nigeria pitched itself as focused and community relevant institution in its website: Following a successful institutional, operational and financial restructuring programme embarked upon in 2002, the bank has transformed into an efficient, focused and profitable institution that is well placed to effectively carry out its primary mandate of providing long term financing to the industrial sector of the Nigerian economy.

They offer services to the following client base according to their websites.

- Small, medium and large enterprises, excluding cottage industries.
- New or existing companies, seeking expansion, mordenisation or diversification.
- Credit worthy promoters who will be required to prove their commitment to the project by contributing at least 25% of the project cost excluding land.
- Borrowers whose management capability, financial situation (including availability of collateral and guarantee), character and reputation are incontrovertible.
- Clients with demonstrable ability to meet loan repayments.
- Borrowers with no record of unpaid loans to erstwhile development finance institutions and other banks.

Very interesting. Who has ever used this bank in the New or existing companies category. Tekedia is curious because usually startups have no collateral and wants to know if BOI has an answer for that. Has anyone ever received funding from this bank as a startup? Share with us.

You know the MD of this bank is shortlisted for the Africa Business Awards. We do not know the basis of the award, but it could be that she has helped to create companies through structured financing. Or maybe they are bigger. Most awards in Africa looks at size over innovation. She must be doing something good and we want to know how.

About the bank.

The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development financing institution. It was reconstructed in 2001 out of the Nigerian Industrial Development Bank (NIDB) Limited, which was incorporated in 1964. The bank took off in 1964 with an authorized share capital of 2 million (GBP).

The International Finance Corporation which produced its pioneer Chief Executive held 75% of its equity along with a number of domestic and foreign private investors. Although the bank’s authorized share capital was initially set at N50 billion in the wake of NIDB’s reconstruction into BOI in 2001, it has been increased to 250 billion in order to put the bank in a better position to address the nation’s rising economic profile in line with its mandate.

Following a successful institutional, operational and financial restructuring programme embarked upon in 2002, the bank has transformed into an efficient, focused and profitable institution that is well placed to effectively carry out its primary mandate of providing long term financing to the industrial sector of the Nigerian economy.

African Business Awards – Aliko Dangote Leads The Pack

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Tekedia Editors

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June 9, 2011

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The shortlist of finalists for this year’s African Business Awards has been been determined. Contenders for the African Business of the Year Award are Bidco Oil Refineries, Citadel Capital, Dangote Group, Ecobank and Oando.

Up in the running for Business Leader of the Year are the following: Aliko Dangote, Dangote Group; Niza Juma, Jubilee Holdings; James Mwangi, Equity Bank; Phuthuma Freedom Nhleko, MTN Group; and Vimal Shah, Bidco Oil Refineries.

The full list of nominees of the 2011 Finalists

African Business of the Year

Bidco Oil Refineries, Kenya
Citadel Capital, Egypt
Dangote Group, Nigeria
Ecobank, Togo
Oando Plc, Nigeria

Best Corporate Social Responsibility

East African Breweries, Kenya
Microsoft, South Africa
Olam, Nigeria
Shanduka, South Africa
Tullow Oil, Uganda

Good Corporate Governance

Emerging Capital Partners, USA
First Bank of Nigeria, Nigeria
Jubilee Holdings, Kenya
Nedbank, South Africa
Oando Plc, Nigeria

Award for Innovation

Gateway Communications, UK
GIZ, South Africa
mPedigree Network, Ghana
Nedbank Capital, South Africa
Syngenta, Kenya

Business Leader of the Year

Aliko Dangote
Dangote Group , Nigeria
Nizar Juma
Jubilee Holdings Ltd, Kenya
James Mwangi
Equity Bank , Kenya
Phuthuma Freedom Nhleko
MTN Group, South Africa
Vimal Shah
Bidco Oil Refineries, Kenya

Green Award of the Year

Africa Finance Corporation (AFC), Nigeria
Buchanan Renewables, Liberia
Enjo, South Africa
Manna Energy Ltd., Rwanda
Microsoft, South Africa

Investor of the Year

Africa Finance Corporation (AFC), Nigeria
Citadel Capital, Egypt
Etisalat, UAE
HSBC, UK
Renaissance Partners, Russia

Outstanding Businesswoman of the Year

Peju Adebajo
Mouka Ltd., Nigeria
Bethlehem Tilahun Alemu
soleRebels, Ethiopia
Stella Kilonzo
Capital Markets Authority, Kenya
Sandie Okoro
Barings Asset Management, UK
Evelyn Oputu
Bank of Industry, Nigeria

Winners for the following categories will be announced during the Awards ceremony

Award for Best Agricultural Development*
Award for Most Improved Investment Climate*
Lifetime Achievement Award*
Creative Industry Award*

The winner for each category will be announced at the Awards ceremony on the 22^nd June at the Landmark London Hotel.

Organised by African Business magazine and the Commonwealth Business Council (CBC), the African Business Awards has become one of the most important annual events for Africa’s most successful entrepreneurs and those interested in business opportunities on the continent. This annual event celebrates the numerous advances and outstanding achievements of African businesses and business leaders. It acknowledges the rapidly transforming business landscape in Africa by honouring entrepreneurial excellence, best business practices and by creating global visibility for African brands.

New CMOS Digital Isolators by Avago Technologies

By

Olabode Olakanmi

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June 9, 2011

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Avago Technologies has announced ACML-74×0, a family of digital isolators that deliver the market’s most robust insulation performance. The ACML-74×0 series, from Avago Technologies, is a family of multi-channel high-speed CMOS digital isolators. Using magnetic coupling through a thick insulation barrier, these CMOS digital isolators help enable high-speed transmissions without compromise to isolation performance.

These CMOS digital isolators consume a small amount of power, even at high data rates, yet provide transient immunity performance in compact surface-mount packages. These CMOS digital isolators are qualified to a maximum propagation delay of 36ns and a maximum pulse width distortion of 3ns. They are also capable of running at a 100MBd data rate.

These CMOS digital isolator devices are available in 16-pin SOIC wide-body packages. They operate at dual 3.3V or 5V supply voltages. The DC and timing are specified over the temperature range of -40° C to +105° C. The quad-channel ACML-7400 CMOS digital isolator is configured as a uni-directional device, with four channels in one direction. The ACML-7400, along with the ACML-7410 and ACML-7420 digital isolators, is also built using CMOS input buffers and CMOS output drivers helping to eliminate the need for both input limiters and output pull-up resistors. Refresh circuitry is built in to ensure DC-correctness.

Additional ACML-74×0 Product Features:

Low power consumption of 13 mA per channel typical at 100 MBd data rate
Wide operating temperature range from -40° C to 105° C
Qualified to low maximum propagation delay of 32 ns and low maximum pulse width distortion of 2 ns
Low propagation delay skews of 4 ns maximum for channel-to-channel and 5 ns maximum for part-to-part
Dual supply voltage compatible for 3.3V and 5V
High common mode transient immunity of 25 kV/µs min
Safety and regulatory approvals from UL, CSA and IEC 60950-1/61010-1/60601-1

They are priced starting at $6.48 each in 1,000 piece quantities. For more information, see Avago Technologies

Microchip Expands MiWi™ Wireless Development Environment for IEEE 802.15.4 2.4 GHz and Unlicensed Sub-GHz Networks

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Tekedia Editors

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June 9, 2011

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Microchip Technology Inc., a leading provider of microcontroller, analog and Flash-IP solutions, has announced its expanded MiWi™ Development Environment (DE), which is a complete ecosystem for designing star and mesh wireless networking products. The MiWi DE is comprised of Microchip’s free, proprietary MiWi P2P, MiWi and MiWi PRO star and mesh networking protocol stacks; the 8-bit Wireless Development Kit (WDK) and ZENA™ Wireless Adapters (2.4 GHz, 868 MHz and 915 MHz); and the multi-purpose Wireless Development Studio (WDS) with cross-platform support for the Linux, Mac OS^® and Windows^® operating systems.

The MiWi DE is ideal for the development of ISM-band wireless networking applications for the home and industrial automation, wireless sensor monitoring and control, and smart energy markets.

Low-power wireless connectivity is becoming increasingly popular in many embedded microcontroller applications, and Microchip’s new additions to the MiWi DE combine to make it easy for designers to add wireless connectivity. The new MiWi PRO mesh-networking protocol is ideal for design engineers needing to create medium to large wireless systems. It supports up to 64 hops and 8,000 nodes in an integrated mesh-network topology. The Wireless Development Studio allows the quick, easy development of wireless applications based on the MiWi protocols. It features a MiWi protocol sniffer for monitoring, debugging and gathering information, and a configurator with a graphical user interface that enables the simple customization and configuration of wireless networks.

Microchip’s two new hardware tools simplify wireless application development. The ZENA Wireless Adapters meet customer demand for a portable, multi-function development tool. When paired with the Wireless Development Studio, the ZENA Wireless Adapters can be used for sniffing, probing and testing; or, they can be configured as a node on the network. The 8-bit Wireless Development Kit provides eXtreme Low Power PIC^® microcontroller users with an easy-to-use platform for developing, evaluating and testing low-power, cost-effective embedded wireless connectivity. It features a pair of wireless PICtail™ daughter boards, two battery-friendly 8-bit XLP PIC MCU development boards and the ability to add additional nodes to create a larger wireless network.

Microchip’s new MiWi DE gives our customers the tools they need to quickly and easily add low-power embedded wireless connectivity to their applications,” said Steve Caldwell, director of Microchip’s Wireless Products Division. “This single, seamless development environment supports three interchangeable protocol stacks with three interchangeable wireless PICtail daughter boards, reducing risk and enabling faster time to market with a flexible, cost-effective solution for our customers.

For more information, visit the Microchip website at http://www.microchip.com/get/L3UR.

By Using US Companies, Some African Startups Are Expanding Their Markets

By

Tekedia Editors

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June 9, 2011

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The company pitched itself on its site thus:

At 2CO we have helped over 100,000 customers launch a business on-line. Whether you are selling hosting services, your grandmother’s favorite cookies, handmade crafts for extra income or software that you have being developing in your garage, 2CO can help put your business on the map. 2CO’s payment and e-commerce services help you accept payments from a variety of credit and alternative payment types and we help you manage fraud and credit card security so that your customers will keep coming back for many happy returns. With over 10 years experience in e-commerce payments, 2CO is a trusted partner to help you reach your business goals. Come grow with us!

It is an American company with office in Ohio. But look at this website, Ticket4u.co.ke. Notice that 2CO is an authorized retailer for this site: “2Checkout.com is an authorized retailer for goods and services provided by Tickets4U”

There is a new business emerging now in Africa. High volume websites bring US companies to help them collect their money. They are not depending on the debit card operations that are presently being offered by many African banks. And this service seems to be cheap and affordable.

So, next time you are thinking of how to collect money from your international customers, you can look for US companies that can help you do that. At the end of the month, they will send you Western Union. After all, that is how Google pays for AdSense in East Africa right now.

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