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Sexual Assault Allegation

Lagos, July 31, 2024 – ARM Pension Managers (PFA) Ltd is aware of a serious allegation of assault involving our employees. We are deeply disturbed by this news and are committed to addressing the situation with the utmost seriousness and sensitivity.

First and foremost, our thoughts are with our colleague who has come forward. We want to express our deepest concern and support for her during this tough time. Sexual assault is a grave matter that has no place in our organization and society at large, and we stand firmly against all forms of harassment or violence.

This incident reportedly took place outside the office premises on the night of July 18, 2024, after an office team bonding event and involved two of our colleagues. We have initiated a thorough and independent investigation into the allegation, and we are fully cooperating with the law enforcement authorities to ensure that the investigation is comprehensive and impartial. The accused employee, an Executive in the Company, has been placed on administrative leave pending the investigation’s outcome. Additionally, we are offering support services to the complainant who has come forward, including counselling and any other resources she may need during this time.

We are committed to fostering a safe and respectful workplace for all employees with zero tolerance for sexual harassment or assault and will continuously strive to maintain a culture of integrity and respect.

We understand the gravity of this situation and the impact it has on all involved. Hence, we will handle this situation with the highest level of integrity and transparency.

ARM Trustees Appointed Sole Trustee for Pioneering Naira Debt Fund

ARM Trustees Limited is proud to have been appointed as Sole Trustee for the FCMB-TLG Private Debt Fund, Nigeria’s first Naira-denominated Private Debt Fund!

The Fund was established in the month of May 2024 with approval from The Securities and Exchange Commission (SEC), managed and sponsored by FCMB Asset Management Limited (FCMBAM) and TLG Capital Investments Limited (TLG Capital), United Kingdom respectively.

The Fund aims to raise N10 billion under Series 1 of its N100 billion program size. The FCMB-TLG Private Debt Fund is targeted at Qualified Institutional Investors (QIIs) and highnet-worth individuals (HNIs). It will invest in commercially viable and impact-oriented activities across key sectors of the Nigerian economy, aligning with the United Nations (UN) Sustainable Development Goals (SDGs).

This offers investors a chance to earn competitive, risk-adjusted returns while supporting sustainable economic growth.

James Ilori, CEO of FCMB Asset Management Limited, highlighted the significance of this Fund at the signing ceremony on Monday, June 3, 2024: “This innovative Fund is a significant milestone in the Nigerian financial landscape. It opens a new avenue for professional investors to participate in the growth of key sectors of the economy while providing essential capital to organisations driving sustainable economic growth and development in Nigeria.”

Aletor Adoghe, representing TLG Capital in Nigeria, shared, “We are delighted to partner with FCMB Asset Management in pioneering this Fund. The Fund aligns with our commitment to investing in untapped markets and will significantly contribute to Nigeria’s broader economic development.”

We at ARM Trustees are excited to be at the forefront of this innovative initiative, poised to play a crucial role in supporting the growth and development of selected sectors and deepening in the Nigerian Capital Market by continuing to support innovations across the market.

Celebrating the Success of ALIP 5.0: A Recap of Cohort 5

The ARM Labs Innovation Program (ALIP) has been a catalyst for Nigerian startups, equipping them with essential resources and guidance to effectively pitch and secure investments. Since its inception in 2018, ALIP has played a pivotal role in diving innovation and nurturing growth within the startup ecosystem.

ALIP Cohort 5, which commenced on May 15th, 2023, continued the tradition of excellence, bringing together a diverse cohort of promising startups poised to make significant strides in their respective industries. This cohort marked a significant milestone in the program’s journey, showcasing the resilience and ingenuity of Nigerian entrepreneurs.

Among the selected startups for Cohort 5 were Arich, GoNomad, Farmer1st, Periculum, and Wano. Each of these startups showed tremendous potential and embarked on a transformative journey throughout the program.

Investment Outcome

The 5^th Cohort experienced a program overhaul and implemented stricter investment criteria. Startups were mandated to showcase market demand, validate their market, and present a well-defined growth strategy, among other prerequisites. This enhanced selection process aimed to ensure that only the most promising and viable startups were admitted into the program, fostering a culture of excellence and accountability.

Selected Startups in Cohort 5:

Arich is a savings platform designed for local traders, offering them a convenient and secure way to save their daily earnings through the Arich mobile app or their mobile agents. The startup demonstrated remarkable progress during the program, refining its business model and solidifying its market position. They successfully received funding from the ALIP 5.0 program.
GoNomad emerged as a frontrunner in the service sector, leveraging technology to redefine the way startups launch and set up their businesses in the US and UK. With ALIP’s support, GoNomad successfully secured funding, paving the way for its expansion and growth.
Farmer1st specializes in offering banking and micro lending services tailored to smallholder farmers. Despite its promising concept, Farmer1st faced challenges in meeting the investor requirements set forth by ALIP. While the journey may have been challenging, the experience gained through the program undoubtedly provided valuable insights for future endeavors.
Periculum offers customized data analytics solutions to help companies extract deeper insights from their data using their flagship product, Insight. While they successfully completed the ALIP 5.0 program and met all investor criteria, their funding needs exceeded the investment ticket for the program.
Wano is a mobile money operating system that empowers businesses to create financial solutions on WhatsApp, like what they can achieve on USSD infrastructure. Despite its promise, Wano did not meet the investors criteria, underscoring the stringent selection process enforced by ALIP. While not every journey culminates in success, the lessons learned along the way serve as invaluable steppingstones for future growth and development.

After the success of ALIP 5.0, it’s essential to celebrate the successes achieved and reflect on the valuable lessons learned. While some startups, such as Arich and GoNomad, secured funding and forged ahead on their growth trajectory, others faced challenges that underscored the inherent complexities of the startup journey.

Going forward, ALIP reaffirms its dedication to nurturing and empowering Nigerian startups, providing them with the necessary tools and support to excel in an ever-changing business environment. As we conclude Cohort 5, we invite aspiring entrepreneurs to apply for ALIP Cohort 6 through our website, where they can access the application and begin their entrepreneurial journey.

ARM Labs Lagos Techstars Accelerator to showcase 12 Innovative Startups at Demo Day

ARM Labs Lagos Techstars Accelerator Demo Day

Lagos, Nigeria – February 1st, 2024 – The ARM Labs Lagos Techstars Accelerator is excited to announce its Demo Day event, set to take place on February 20th, 2024, at 3PM WAT in Lagos, Nigeria.

The invite-only event will showcase the accelerator’s 12 new investments, operational in Ghana, Nigeria, and East Africa. The sectors invested in include FinTech, HealthTech, B2B SaaS, Cleantech, Logistics, E-commerce and Big Data.

This Demo Day concludes a 13-week acceleration program designed to support the next generation of entrepreneurs that are changing Africa and the world, by using technology, data and intelligence to serve a population growing in size, youth, income and digital access.

Since the program commenced on November 13th, 2023, the startups have engaged with over 90 mentors and speakers including, Kevin Simmons, General Partner at LoftyInc Capital; Tingting Peng, Chief Capital & Strategy Officer at Moove; Shola Akinlade, Founder/CEO at Paystack; Kola Aina, Founding Partner at Ventures Platform; Tunde Kehinde, Founder/CEO at Lidya; Olatokunbo Alli, Managing Director at Leadway Health; and Yischai Beinisch, Head of West Africa – Emerging Market Power at Shell Energy Europe & Africa.

One of the founders in the class, Ayodeji Alaran- Founder/CEO, PBR Life Sciences remarked “The ARM Labs Lagos Techstars Accelerator has served as a pivotal moment in our company’s development. In just two months, we’ve made significant strides that would have taken us three to four times as long to accomplish without the program’s support. The guidance and resources provided by the program team, mentors, and ARM have been instrumental in propelling us into a new phase of growth.”

The Program’s Managing Director, Oyin Solebo stated, “In 2023, against a backdrop of declining global VC funding, Techstars increased their investment into African startups, becoming the most active startup investor in Africa. Our continent is a hotbed of talent and innovation. The 12 startups graduating from our latest ARM Labs Lagos Accelerator epitomize this. Having worked closely with the founders to accelerate their businesses over the last 13 weeks, I’m incredibly proud to have the opportunity to showcase them to the world.”

Sadiq Mohammed, Deputy Group CEO, ARM Hold Co, expressed his excitement about the startups stating “At ARM, we believe that collaboration is essential for driving sustainable growth and development in Africa. This is why we are proud to have partnered with Techstars on this accelerator, which is helping to foster a new generation of entrepreneurs. I strongly believe that the startups in this second cohort are poised to revolutionize various industries in Africa.”

Oluwadunni Fanibe, Program Manager added “At Techstars, we believe that innovation and entrepreneurship are critical drivers of economic growth and development, our program is designed to provide the resources, mentorship, and network entrepreneurs need to succeed not just locally but globally as well. We are excited to showcase the startups growth in the last 13 weeks, come February 20th.”

Doors for Demo Day open for registration and networking at 2PM. Event commences at 3PM with an opening address from Oyin Solebo, the program’s Managing Director.

In addition to the pitches from all 12 startups, the event will feature a keynote address from Tayo Bamiduro and Chinedu Azudoh, the founders of Max.ng – Techstars’ first African investment, as well as a fireside chat with one of the most prolific angel investors on the continent, Olumide Soyombo. The event will end with a cocktail reception for key stakeholders and decision-makers in the African tech and VC ecosystem – another opportunity to network and build connections.

The 12 startups presenting at Demo Day include:

24Seven – 24Seven is an asset-light marketplace that enables small businesses and convenience stores to order inventory on credit with one-hour doorstep delivery; founded by Olufemi Idowu.
BeautyHut – Beauty Hut leverages technology to bridge the gap between beauty brands and consumers through efficient product distribution and marketing channels, via their e-commerce web-store and mobile app; founded by Subuola Oyeleye.
Eight Medical – Eight Medical is an end-to-end platform that connects users in need to emergency medical resources (such as hospitals, ambulances, personnel, information & credit), reducing waiting times from an average of 3 hours to 10 minutes or less; founded by Dr. Ibukun Tunde-Oni.
GetEquity – GetEquity facilitates access to investment opportunities by SEC-accredited providers, reducing entry barriers through investment aggregation across various asset classes; founded by Jude Dike, Temitope Ekundayo and Chigozirim Ugochukwu.
Jump n Pass – Jump n Pass is a mobile self-checkout platform and wallet that improves shopping experiences for shoppers, whilst enabling retailers to access inventory financing, and brands to sell more; founded by Tunde Ademuyiwa and Qudus Quadry.
One Plan – Through One Plan, workers in Africa’s informal economy can create affordable financial plans, making it easier to start a retirement plan, access low-interest credit, and access health plus life insurance cover; founded by Harold Awuah-Darko.
PBR Life Sciences – PBR Life Sciences offers pharmaceutical, consumer healthcare and medical device companies fast and easy access to high-quality market data and insights, helping them make objective decisions on product pricing, volumes and company strategy; founded by Ayodeji Alaran.
PressOne Africa – PressOne Africa provides African businesses with deeper insights into phone conversations with customers through a communication platform that provides conversation intelligence and call monitoring; founded by Mayowa Okegbenle, Opeyemi Shokunbi and Unoma Adeyemi.
Rana Energy – For critical-sector businesses and communities, Rana democratizes access to clean and reliable power by connecting affordable financing to impactful and bankable projects through a B2B energy-as-a-service platform; founded by Abraham Mohammed and Mubarak Popoola.
Surge Africa – Surge Africa allows individuals, micro-entrepreneurs and MSMEs in Africa to make instant cross-border transfers and pay up to 80% less in fees; founded by Kumar Shourav and Ebrahim Essop.
Swoove – Swoove is building an operating system to enable delivery businesses in emerging markets to digitize and scale their operations. With Swoove’s platform, businesses can efficiently hire & manage drivers, automate operations, and access an ecosystem of logistics-focused financial services; founded by Kwaku Tabiri, Kingsley Amponsah, Gloria Pascucci, Robert Quainoo and Kevin Blankson.
Veend – Veend provides access to on-demand funds for consumers and businesses with verifiable income, offering an innovative ecosystem approach to lending. This approach enables the verification of creditworthiness and collection of repayments from a single source; founded by Olufemi Olanipekun and Ebenezer Ajayi.

The in-person event is invite-only for investors, mentors, press, alumni founders, senior operators and ecosystem leaders. If you would like to attend virtually, or express your interest in attending in-person, please register here.

About Techstars

The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas – entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 4,000 companies with a combined market cap of more than $105B. www.techstars.com

About ARM

Established in 1994 as an asset management firm, ARM offers wealth creation opportunities through a unique blend of traditional asset management and alternative investment services. ARM enables businesses to thrive, and helps its clients to maximise their returns and realise their most important goals. For almost three decades, ARM has built a firm uniquely equipped to achieve these objectives and its reputation for quality research, investment expertise and value-added services has endeared it to clients both locally and internationally.

ARM-Harith Infrastructure Investments Ltd Designates Mrs. Rachel More-Oshodi as CEO

ARM-Harith Infrastructure Investments Ltd is pleased to announce the designation of Mrs. Rachel More-Oshodi as its Chief Executive Officer, effective March 2024. This follows the recent appointment of Mrs. Tariye Gbadegesin to the role of CEO at the Climate Investment Funds in Washington DC, United States.

Mrs. More-Oshodi, a seasoned executive with over two decades of extensive expertise in finance, infrastructure and energy, steps into this role after her successful tenure as Deputy Vice President Commercial Sales & Specialties at Africa Total Energies. Previously, she held significant positions, including Head of Infrastructure Finance, West Africa at Rand Merchant Bank and roles at the International Finance Corporation (IFC) and the Inter-American Development Bank (IaDB) in Washington D.C. Mrs. More-Oshodi, who holds dual French and U.S. citizenship, is originally from Cameroon, further strengthening ARM-Harith’s commitment to diverse leadership and Pan-African development.

In addition, the Board has appointed Mr. Jobalo Oshikanlu as Deputy CEO of the Fund Manager, effective January 1, 2024. A foundational member of the Fund Management Team at ARM-Harith, Mr. Oshikanlu brings over 25 years of experience in commercial legal, infrastructure finance, and private equity. Prior to this appointment, he served as the Executive Director for Legal & Investments. Mr. Oshikanlu’s deep expertise and Nigerian heritage further reinforce the Fund’s commitment to nurturing African talent and expertise.

Mr. Offong Ambah, Chairman of the Board of Directors, said: “We are thrilled to have Mrs. More-Oshodi lead ARM-Harith. Her remarkable track record in managing multi-country, multi-business platforms, and her profound understanding of energy and infrastructure investment across Nigeria, Africa, and globally, uniquely position her to drive our next growth phase.”

Mrs. More-Oshodi added: “Joining ARM-Harith as CEO is not just another occupation, it is a vocation. Together with the exceptional team at ARM-Harith, I am dedicated to unlocking the transformative power of infrastructure and renewable energy to catalyze economic growth and enhance the quality of life across the continent. It is truly a unique opportunity to enact meaningful change, leverage our collective expertise and resources to create a thriving, resilient Africa – one that stands as a testament to what is possible when passion aligns with purpose.”

The appointment is subject to concluding the regulatory requirements with the Securities and Exchange Commission and relevant authorities.

About ARM-Harith Infrastructure Investments Ltd.

ARM-Harith Infrastructure Investments Ltd is a leading pan-African infrastructure private equity fund management company that invests in sustainable infrastructure projects which support economic growth and development in Africa. The Fund is committed to investing in projects that have a positive impact on local communities and the economies in which it operates.

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 Labs Innovation Program 5.0 Applications Closed

Thank you for your overwhelming response to the ARM Labs Innovation Program 5.0! We have received an incredible number of innovative applications, exceeding our expectations.

Our team is currently reviewing all the submissions to select the most promising ideas. We appreciate your patience as we carefully evaluate each entry.

Stay tuned for updates on the next steps of the program. We will notify selected participants and provide further information on the program timeline.

Thank you again for your enthusiasm and participation in the ARM Labs Innovation Program.

For more news and updates, make sure to follow our website and social media channels.

ARM launches Innovation Workspace in Lagos

Assets and Resource Management Holding company (ARMHoldco) has launched a state-of-the-art Innovation Workspace for fintech startups selected in the ARM Labs Innovation Programme. The workspace, which is located at its headquarters in Ikoyi, Lagos was birthed in fulfilment of the organisation’s commitment to providing a well-equipped location where these startups can develop their businesses and gain access to mentors within the ecosystem. The facility is equipped with access to Wi-Fi, designated workstations, a PS5 entertainment console to sponsor relaxation, a meeting room, and a communal area.

ARM Labs Innovation Programme is designed to engage early-stage FinTech startups in a series of activities aimed at exponentially advancing the growth of their companies within a short time frame and ensuring their investment readiness.

At the launch of the facility, the startups were welcomed by the Group Head, Digital Transformation, Ina Alogwu, who gave them a tour of the workspace.

Speaking at the launch, the Managing Director, ARM Pensions, Wale Odutola, said that the platform presents startups with the opportunity to scale their businesses and help fine-tune how they go to market. According to him, it also helps them to build business relationships within and outside Nigeria. He encouraged the participants to spend time taking advantage of the training and leverage it.

Odutola said “It is not every day you have the opportunity to partner with an established firm that has over a million clients and focuses on course development and services. We are also a business that tends to be more protective of the things we create. This is a great opportunity to test the extent of our mentorship and hopefully come out on the other side transformed and ready to break new ground.”

Odutola further promised that ARM Labs is open to having conversations with the startups about opportunities with any of ARM subsidiaries they believe they can provide value to. “The team will help you make those introductions so that you can have those conversations,” he assured.

The Managing Director, ARM Academy, Uche Azubuike, said the ARM Labs Innovation programme is a learning environment and encouraged the startups to be open about any resources they may need.

“The reason you are here is so that you can interact with different businesses. Because we believe that way, we can add value to whatever you are working on building. Don’t limit yourself. You have the opportunity to do as much as you can,” she said.

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) arm.com.ng

Applications are now open for ARM Labs Innovation Program 5.0

As a leading investment firm in Nigeria, we understand the critical role that startups play in driving economic growth and development. We are thrilled to announce that the 5th Cohort of the ARM Labs Innovation Program is now open for applications.

What is the ARM Labs Innovation Program?

The ARM Labs Innovation Program is an intensive support program for selected Nigerian startups. The program aims to improve their products, expand their market, and strengthen their team skillset to enhance their chances of success.

What’s new in the 5th Cohort?

This year’s Innovation program has been expanded to accommodate FinTech, PenTech (Pension Tech), Data Intelligence, and Digital Trade startups. With a focus on empowering Nigeria’s future leaders, we aim to discover and support potential startups in these categories.

What’s in it for the startups?

Selected startups will receive up to $50,000 in funding, a state-of-the-art office workspace, hands-on mentorship from industry experts, and access to an investor network. These benefits will provide the selected startups with the resources they need to take their businesses to the next level.

Why should you apply?

This program represents a unique opportunity for Nigeria’s brightest and most innovative minds to showcase their potential and significantly impact the economy. By supporting the most promising startups, we are investing in the future of Nigeria.

How can you apply?

If you or anyone you know has a startup that fits into the listed categories, we encourage you to apply for this opportunity. Interested applicants can click here to apply and learn more about the program. Applications will close on June 15th, 2023.

We are excited to witness the impact that the 5th Cohort of the ARM Labs Innovation Program will have on Nigeria’s startup ecosystem. We encourage you to share this opportunity with any promising startups that you know and look forward to receiving your applications.

Finalist Pitch for DAAYTA 2023

The Deji Alli ARM Young Talent Award (DAAYTA) program is gearing up for its fifth edition with the finalists’ pitch event scheduled to hold virtually on April 14th, 2023. This initiative was established in 2015 by ARM, in honor of its founding CEO, Deji Alli. The initiative’s primary objective is to support young entrepreneurs who have innovative ideas that can positively impact people’s lives and the communities around them.

Following a thorough review of over 482 applications from start-up entrepreneurs across Nigeria, the organizers have selected the top seven (7) outstanding companies to pitch their ideas.

The selected startups are Cdial Limited, Moon Innovations, Natibo Technologies Nigeria Limited, Sakula Limited, StackJunior, Strich, Inc. and ThinkBikes Limited.

The winner of the DAAYTA 2023 will receive funding of ₦12,000,000 (twelve million naira) over a period of one (1) year to; develop their business plan, complete an entrepreneurial education at the Pan Atlantic University’s Enterprise Development Centre in Lagos, Nigeria; and finance a 5-month acceleration support to develop their venture via a reputable entrepreneurial hub also in Lagos.