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Cars45 restates commitment to enabling trade within Nigeria’s automotive industry

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Cars45 CEO, Soumobroto “Sunny” Ganguly (Image source: Cars45)

Cars45 Nigeria’s leading tech-enabled automotive trading platform, Cars45, has reiterated its commitment to enabling trade within Nigeria’s automotive industry as well as defining the future of automotive trade across the country by providing consumers with a brand experience that helps them with smarter buying and selling choices.

Cars45 founded in 2016 provides an end-to-end digitized customer journey for buying and selling cars for individuals and corporate organizations with a desire to help them get the most value from any automotive transaction.

At an interactive session in Lagos, Chief Executive Officer, Cars45, Soumobroto “Sunny” Ganguly stated that meeting the needs and expectations of its customers and stakeholders will remain a major imperative even as the company intensifies efforts at solving the challenges across the automotive value chain from new, to used, logistics, aftermarket and repair services and scrap vehicles while the business continues to grow on the back of innovation and technology.

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“Cars45 has moved into over twelve cities across Nigeria and two others in Africa, we have a growing franchise dealer network coupled with our Autopreneur support system that has empowered so many young people financially, and our marketplace has exceeded expectations in facilitating consumer-to-consumer vehicle trades and making the car ownership dreams of lots of people come true. We are confident in our ability to deliver and the strength of our mission to enable automotive trade across the continent.”

On the recent management changes, the CEO noted that Frontier Car Group (FCG) which had invested in Cars45 Series A fund raise in May 2017 was acquired by OLX Group in November 2019 to demonstrate their ambition to lead the online market for used cars.  Cars45 has now been fully integrated as a proud member of the OLX Autos family.

Cars45 announced some products offerings that include: GoMechanic45, an aftermarket service aimed at providing quality and affordable car repair services for consumers and corporates, deepening the culture of preventive maintenance and scheduled servicing in a manner that helps them to maximize the lifetime value of their vehicles.

Institutional and Corporate Sales will cater to corporate and government institutions by solving issues around fleet liquidation and valuation as well as supply while adding value to their automotive needs and unlocking new levers of growth and productivity.

International Trade services christened as EasyShipDirect is an end-to-end importation service that will facilitate the acquisition of clean titled cars into the country, help the government realize revenue via the payment of import duties and

Lastly, Cars45 has partnered financial institutions – fintechs and banks to provide vehicle financing services to both consumers and car dealers with a view to removing  long-standing barriers to car ownership and help grow the pool of car owners across the country.

The company also noted that its expansion into Kenya and Ghana is growing while strengthening its partnerships with car manufacturers and OEMs that include KIA, Kewalram Nigeria and CFAO with a view to facilitating new car sales and ownership.

Also speaking during the briefing, Head, Marketing and Communications, Shola Adekoya reiterated the company’s commitment to driving the growth of the automotive sector in Nigeria and ensuring that car-buying and ownership becomes a seamless, safe and secure experience for consumers. “We take our responsibility of providing quality service offerings underpinned by transparency and integrity very seriously. It is incumbent upon us to develop value-based products that will enhance value creation for the Nigerian used cars marketplace.”

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Head, Lead Management & Marketplace; Patricia Duru noted that Cars45 has prioritized the delivery of a transformative customer experience for all stakeholders even as its marketplace provides value and variety for consumers.

The event had in attendance senior management executives from Cars45 that include: Head, Finance, Elizabeth Iyi-Eweka; Head, Technical Operations, Pankaj Bohra and Head, People Operations and Central Support Services, Olajumoke Obembe amongst others.

Issued by Cars45

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Press Release

Pezesha Raises Seven-figure Seed Extension from GreenHouse Capital to Fuel Expansion of its Embedded Credit Infrastructure across Africa

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Pezesha team (Image: Supplied)

Pezesha, a pan-African fintech company building scalable lending infrastructure for SMEs and institutions, today announced the close of a seven-figure growth funding round led by GreenHouse Capital (GHC). In addition to GHC’s investment, Pezesha received on-lending liquidity support from GHC’s sister company Venture Garden Group (VGG). These financing milestones will support Pezesha’s continued growth across Africa and its mission to expand access to affordable working capital for SMEs.

Pezesha is solving Africa’s $82 billion working capital and trade finance access problems by enabling non-traditional finance institutions to offer working capital to SMEs using Pezesha’s lending infrastructure. The company has built robust APIs to originate quality SMEs and original credit scoring models that allow capital to flow efficiently and productively. Pezesha’s new partnership with VGG will expand the capital available for Pezesha and its institutional partners to lend to SMEs. Pezesha previously raised capital from Consonance and Seedstars.

Hilda Moraa, CEO and Founder of Pezesha, commented, “we are delighted to have GreenHouse Capital join the Pezesha family. We are aligned in vision as well as our commitment to solving the working capital challenges that are preventing African SMEs from achieving their full growth potential. GHC’s investment will catapult our growth by enabling us to scale our existing partnerships with the likes of Twiga Foods, Jumia, Marketforce, and Popote Pay, among others. More so, the investment will unlock our vision of building the operating system to power embedded finance in Africa”

Ruby Nimkar, Principal at GreenHouse Capital, added, “Pezesha is breaking down barriers to SME financing by taking an ecosystem approach to the problem of access to capital. Their embedded finance model is truly groundbreaking, and we have full confidence in Hilda and her talented team to take their model into new markets and continuously close the SME financing gap across Africa.”

Bunmi Akinyemiju, CEO of Venture Garden Group, commented, “Pezesha’s innovative model is driving capital to the African SMEs that need it the most. We are excited to be partnering with them to expand their access to funds that they can use for their on-lending liquidity.”

Pezesha has scaled its lending infrastructure in Kenya, Ghana, and Nigeria and is planning to launch in Uganda in September of 2021.

 

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AVEVA Launches Comprehensive Operations Control Software through Game-Changing User-Centric Flexible Model

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AVEVA Executives; Rashesh Mody, SVP Monitoring and Control and Kerry Grimes, Head of Global Partners(Image: Supplied)

AVEVA, a global leader in industrial software, driving digital transformation and sustainability, announced today that it will be making its Operations Control solutions available as a single subscription for the first time. This redefines the industrial software experience, going beyond HMI and SCADA, enabling industrial organizations of all sizes to develop collaborative workforces, scale effectively, and optimize operations for agility and efficiency.

From IIoT architectures and cloud-driven remote edge management to multi-site supervisory control, AVEVA™ Operations Control software will be available via a flexible user-centric model, through the AVEVA™ Flex Subscription program in three core packages: Edge, Supervisory and Enterprise. These core solutions provide all the necessary tools for plant, field, control room, and enterprise teams to drive actionable information, collaborate effectively, and accelerate operational excellence. The program also offers access to add-on functionality with AVEVA Manufacturing Execution, and AVEVA Insight for advanced AI and workflow management. AVEVA’s new Operations Control software subscriptions now allow end customers to use all of its products, the way they want to use them.

AVEVA Operations Control offers an infinite range of possibilities for companies to connect operations and workers via the cloud, web and mobile to drive efficiency through collaboration and standardization. It delivers supervisory, visualization, collaboration, and analytics software in a single combined subscription providing unlimited access to actionable information.  Every team, whether on the plant floor, in the control room, or operating across the enterprise, is empowered to do more, in collaborative alignment. Customers can build a reliable foundation towards operational excellence with AVEVA Operations Control.

AVEVA offers the first single subscription program on that market that spans edge-to-cloud solutions for plant operations. The AVEVA Flex subscription program is designed to provide access to the entire AVEVA portfolio – enabling customers to flexibly drive sustainable growth. It allows companies to achieve a faster return-on-investment, removing traditional barriers to software adoption and revolutionizing the purchase and consumption of industrial software. The subscription model enables simplicity in license purchasing, usage and management – aiding organizational digital transformation.

In the FY21 fiscal year, AVEVA recorded strong subscriptions growth as businesses sought access to transformational technology on a flexible, agile basis. According to ARC Advisory Group, subscription-based models are predicted to grow at a pace nearly four times that of traditional software over the next five years in the industrial automation markets.

Craig Resnick, Vice President at ARC Advisory Group commented: “ARC anticipates that the subscription model growth rate will be significantly higher than the traditional licensing model growth rate for purchasing HMI/SCADA solutions going forward. This shift towards the subscription model is driven by a number of factors, including the market seeking single converged solutions, such as HMI/SCADA and asset performance management, that deliver great flexibility together with edge-to-cloud integration, a capability that AVEVA can deliver today as part of its AVEVA Flex subscription program.”

Rashesh Mody, SVP Monitoring and Control, AVEVA said: “Our solution is enabling teams in different physical locations to organize their operations, collaborate, and leverage vast internal knowledge. Most importantly, customers can now accelerate their digital transformation journey through one simple, agnostic subscription package.”

“Industrial organizations are increasingly aiming to utilize technology environments that will provide them with a comprehensive view of their field, control room and enterprise operational facilities. With AVEVA Operations Control they can now view end-to-end processes with an unlimited offering through the edge, enterprise and supervisory core functions,” Mody added.

“With AVEVA Operations Control available via the AVEVA Flex subscription program, channel partners can now offer outcome-based solutions and services to their customers. AVEVA’s offering is unique because it enables simple and flexible pricing – allowing our channel partners to differentiate themselves in the market and stay ahead of the competition,” said Kerry Grimes, Head of Global Partners at AVEVA.

 

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Endeavor Nigeria unveils inaugural cohort for its ScaleUp program

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Entrepreneurs from Releaf, Bankly, wallets.africa and BFREE selected to participate in new Endeavor ScaleUp Program

Endeavor Nigeria has unveiled the inaugural cohort of entrepreneurs for its new 10-week Endeavor ScaleUp Program that aims to support Nigeria’s most promising, high-impact business leaders. Leveraging Endeavor’s extensive global network, participating entrepreneurs will have access to mentorship, fundraising support, partnerships and a strong peer network of high impact entrepreneurs who have built and run successful businesses.

Seven entrepreneurs from four Nigeria-based start-ups have been selected to participate in the program, which will also provide an opportunity to receive tailored support and fresh, honest, and in-depth feedback that will help them scale to the next level. The entrepreneurs that have been selected to participate in the program are:

  • Releaf – Ikenna Nzewi – CEO and co-founder, Uzoma Ayogu – CTO and co-founder
  • Bankly – Tomilola Majekodunmi – co-founder and CEO
  • wallets.africa – John Oke – CEO
  • BFREE – Julian Flosbach – CEO, Moses Nmor – CPO, Chuks Enyi – COO

The new Endeavor ScaleUp Program will provide a subset of the services provided to Endeavor Entrepreneurs and participating entrepreneurs will be given direct, actionable feedback to support their growth as business leaders. The program will also include group workshops facilitated by Endeavor Entrepreneurs, board members and mentors, as well as access to executives from industry-leading companies for potential business development opportunities.

The group workshops will be led by Bolaji Balogun – CEO of Chapel Hill Denham and Vice Board Chairman at Endeavor Nigeria, Ife Orioke – CIO and co-founder of Flutterwave, and Tosin Eniolorunda – CEO and co-founder of TeamApt. The mentors will include Seni Adetu – former MD/CEO Guiness Nigeria Plc, Adepeju Adebajo – former CEO, Lumos Nigeria, Anders Einarsson – CEO Food Products International, Promasidor Nigeria Limited and Felix Ike – co-founder and CTO, TeamApt.

Speaking on the new program, Tosin Faniro-Dada, Managing Director and CEO of Endeavor Nigeria said, “We are delighted to have these exciting entrepreneurs on our first ScaleUp program, and we have prepared an impactful program that will address their most pressing challenges and support them as they advance to the next stage of their business growth. One of our core values at Endeavor is our commitment to paying it forward and our Endeavor Entrepreneurs are also eager to support the next generation of high-impact entrepreneurs with their deep knowledge, experience and functional expertise in their respective industries and markets”.

With a mission to build strong entrepreneurship ecosystems in high-growth markets across the world, Endeavor selects, mentors and supports high-impact entrepreneurs leading some of the world’s most exciting scale-up companies, supporting them to scale their companies as well as drive economic growth and job creation. Endeavor Nigeria currently supports 24 entrepreneurs who lead 13 companies including Flutterwave, Carbon, Autochek, 54gene, TeamApt, TradeDepot, Helium Health, Paga, Migo, Daystar Power, HealthPlus, Kobo360 and FilmHouse Group.

 

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