Connect with us

GRTech

FundAnEnterprise.org officially launches in Nigeria

Published

on

Fundanenterprise.org, Nigeria’s first donation based crowdfunding platform for supporting Medium, Small and Micro Enterprises (MSMEs) has been officially unveiled.

Crowdfunding activity is as old as mankind. However, Michael Sullivan in 2006 was credited with coning the term, with the launch of fundavlog in an attempt to raise funds to create an incubator for video blog-related projects.

Strictly speaking, the term “Crowdfunding” is the means or practice of raising funds, capital or money for a project, business or venture in small amounts from a large number of people, especially through the Internet.

Speaking at the launch of Fundanenterprise.org on Thursday, in Lagos, the Trustee, MSME Crowd Funding Foundation, the promoters of the platform, Mr. Magnus Nmonwu, described crowdfunding as an alternative means of raising money without going to the bank or financial institutions.

This means of injecting live into the operations of small businesses and the economy at large has been very successful in developed countries / continents – America, Europe Asia and so on, raising billions of pounds and Dollars.

According to an article by Chance Barnett, published in Forbes titled “Trends Show Crowdfunding to Surpass VC in 2016, over US$34 billion was estimated to be raised from crowdfunding as against the US$30 billion from VC’s.

However, Mr. Nmonwu said there are different types of crowdfunding, ranging from Reward-based, Equity-based, Software value token-based, Debt-based, to Donation-based.

Donation based crowd funding, is the second most commonly used type of crowd funding.  Fundanenterprise.org is a donation based crowd funding platform.  Kickstarter and Indiegogo are examples of other crowdfunding platforms in Europe.

“In the US, crowdfunding accounted for more than 85% of worldwide volume in 2013, while growth in Asia, specifically India has steadily improved and competing since 2010, with at least 15 crowdfunding platforms emerging on the Indian web”.

Crowdfunding in Nigeria

In Nigeria, he said, the potentials for crowdfunding are untapped, inexhaustible and yet to be fully embraced, in spite of its successes as funding alternative in other countries.

“We at MSME Crowd Funding Foundation however believe, that with huge investment in education and stronger regulations in crowdfunding activities, Nigeria would be on the path to crowdfunding revolution, like in other notable fields of the economy.

Why this is important to the economy

“It is a known fact that MSME’s are the drivers or backbones of world economies.  There are about 50million+ SME’s, 100million+ internet users and 120million+ mobile phone users in Nigeria.  MSME’s employ about 60million+ persons (as at January 2014), which contributed to about 48% or 38trillion of Nigerians GDP & 7% of export earnings.

“Nigeria is a country endowe with rich natural resources, but yet our economy cannot meet the basic needs of the citizens.

“According to a United Nations report, over 80 million Nigerians (out of the over 190million) live in abject poverty, despite the impressive statistics I just recounted.  There is such a huge disparity between these statistics and the reality on ground”.

“Given this imbalance and our recent rating as the poorest country in world, it is high time individuals, groups (private and/or public) and government joined hands together to change the economy to work again. It is high time we began to support one another in every littlest way in order to expunge the poverty index and make our economy great”, he said.

The MSME Crowd Funding Foundation, through www.fundanenterprise.org, is here, not only to provide the much needed relief to start-ups, small and growing businesses, but to change the way Nigerians in particular and the world in general support business operations.

“Our vision is to build the biggest network of entrepreneurial hub and act as the voice needed to change the landscape (policies and regulation) and challenge the status quo in favour of MSMEs.

“Our mission through www.fundanenterprise.org to lighten the burden of doing business in Nigeria and help build, as many as possible, thriving enterprises or businesses in Nigeria and beyond. By doing these, we believe we would support jobs creation, improving the standard of living of Nigerians and improve the Nigerian economy by extension.

“This aim of the MSME Crowd Funding Foundation is executed in threefold as follows:

  1. Skills Training – Equipping businesses within our network with the necessary skills, to start-up and run a successful business in Nigeria.
  2. Crowd Fundingfundanenterprise.org is the crowd funding platform used to support businesses raise the much needed capital to start, grow or scale their businesses.
  3. Handholding – This is a compulsory one-year hand holding support to enterprises who are beneficiaries of grants from fundanenterprise.org. his is with the aim to provide assurance to donors that the funds are utilized for its intended purpose.

“At MSME Crowd Funding Foundation, we believe that our economy will grow or be built or sustained by entrepreneurs.

A recent publication indicates that the Dangote Group contributes about 10% of Nigerian’s GDP.  Therefore an increase and aggregation of several successful enterprises in Nigeria would definitely build the Nigeria economy.

“MSMEs in Nigeria are confronted with a number of issues, which includes funding or access to funds to start or scale.  www.fundanenterprise.org is a bridge to this gap and is here to serve as an alternative funding source for start-up, micro, small and medium enterprises.  Crowdfunding has a huge potential in Nigeria following her large, fast growing population, widespread mobile and internet connection, strong social activities, a great network of family and friends and a booming entrepreneurial spirit.

“Therefore, MSMEs in Nigeria and initiators of creative ideas are encouraged to look at alternative sources of funding and consequently tap into the internet to solicit donations to sustain and expand their ideas.

 

“The Foundation has organized and completed seven skills training sessions with over 1,500 registered participants.

 

Target market

“Our target market are mainly startup businesses, micro, small and medium businesses who do not have what it takes to scale or start their businesses. So far, we are in the process of trying to scale up the operations of our Foundation, setup an advisory board and also raise grants from notable firms / donor funded agencies to support these businesses in our network.

Already, the platform has over 35 subscribers and an average daily statistic of about 250 views.  Nigeria needs to embrace the crowdfunding phenomenon, educate the populace and ensure appropriate regulations, especially as it affects equity crowdfunding, to give MSME’s easier alternative to help boost the economy.

“It is all intended to be a communal enterprise building circle, to empower our people and build our economy.  We are therefore calling on everyone out there including investors and investees who wish to make an impact in the society (no matter how small) to support us in this cause to make our economy buoyant again”, he appealed to the public.

GrassRoots.ng is on a critical mission; to objectively and honestly represent the voice of ‘grassrooters’ in International, Federal, State and Local Government fora; heralding the achievements of political and other leaders and investors alike, without discrimination. This daily, digital news publication platform serves as the leading source of up-to-date information on how people and events reflect on the global community. The pragmatic articles reflect on the life of the community people, covering news/current affairs, business, technology, culture and fashion, entertainment, sports, State, National and International issues that directly impact the locals.

Continue Reading

GRTech

Refurbished tech: Making a smart choice for a greener future

By Qrent Managing Executive Kwirirai Rukowo

Published

on

Kwirirai Rukowo + Refurbished Tech
Kwirirai Rukowo

Consumers and businesses are constantly striving for the latest and greatest technology. However, behind the pursuit of cutting-edge devices lies a significant environmental toll – one that often goes unnoticed. The production of new technology requires vast amounts of natural resources, energy, and labour, contributing to both environmental degradation and significant carbon emissions.

With concerns about sustainability at an all-time high, companies are now looking for ways to reduce their environmental impact without compromising on performance or innovation. Refurbished tech, such as the solutions offered by Qrent, presents an effective, affordable, and eco-friendly alternative.

The refurbished computers and laptops market is set for remarkable expansion, driven by both cost-effectiveness and a growing commitment to sustainability. According to Credence Research, the market is projected to surge from USD 17,856.6 million in 2024 to USD 39,405 million by 2032, achieving a compound annual growth rate (CAGR) of 10.4% during the forecast period.

This growth underlines the increasing adoption of refurbished IT equipment by businesses, educational institutions, and individual consumers as they seek to balance performance with environmental responsibility. The rising trend not only helps organisations reduce capital expenditures but also supports circular economy initiatives by extending the lifecycle of electronic products

As businesses face increasing pressure to meet environmental, social, and governance (ESG) goals, refurbished tech is fast becoming a preferred choice for companies looking to cut costs while reducing their carbon footprints.

At Qrent, businesses can access high-quality, refurbished IT equipment that meets the demands of modern enterprises while simultaneously supporting sustainability initiatives. The company provides a range of refurbished devices including computers, laptops, and servers, ensuring that businesses can operate efficiently while minimising their environmental impact.

These devices are thoroughly tested and restored to like-new condition, offering the same reliability and performance as their brand-new counterparts but with a fraction of the carbon footprint.

Refurbished tech and the circular economy

The transition to a circular economy – a system that emphasises reusing, recycling, and remanufacturing – has become a critical strategy in tackling the world’s waste crisis. The electronics industry is one of the largest contributors to this crisis, with e-waste being the fastest-growing waste stream globally.

By choosing refurbished technology from Qrent, businesses contribute directly to the circular economy. When companies choose to refurbish and extend the lifecycle of their IT devices, they prevent valuable resources from ending up in landfills and reduce the demand for new products, thereby conserving raw materials and decreasing pollution.

Qrent’s refurbishment process includes the responsible recycling of old components and ensures that all equipment is brought back to life in an eco-friendly manner. This not only helps in reducing waste but also plays a significant role in limiting the environmental impact of tech manufacturing.

Embracing circular economy strategies not only prolongs the lifespan of IT assets but also significantly cuts down the need for new manufacturing – thereby reducing carbon emissions. The 2024 Forrester Report on The Circular Economy & Sustainable Manufacturing reveals that a substantial share of firms are already reaping sustainability benefits: 38% have adopted innovative delivery and fulfilment options that minimise waste, 32% are improving waste management practices, and 28% are focusing on more efficient material sourcing.

By opting for refurbished technology, companies can leverage these practices to lower reliance on virgin materials and the high emissions associated with producing new devices, marking a crucial step toward a greener, more sustainable IT procurement model.

Attaining your sustainability goals

Qrent provides businesses with sustainable IT solutions. The company not only supplies refurbished technology but also offers a comprehensive range of services that include equipment leasing, IT asset management, and secure data destruction. Businesses can now gain access to a scalable solution that meets their IT needs while simultaneously supporting their ESG initiatives.

The company’s commitment to reducing e-waste is evident in its emphasis on responsible recycling and disposal practices. When companies dispose their old IT equipment with Qrent through their IT Asset Disposal Solution, they can be confident that their devices will be decommissioned properly and reused, ensuring that valuable materials like metals, plastics, and glass are recovered and re-entered into the manufacturing cycle.

This process prevents toxic substances from polluting the environment and ensures that e-waste is managed in a safe, responsible manner.

Continue Reading

GRTech

Anambra State Government Launches SolutionLens to Drive Transparency and Citizen Engagement

Reporter: SANDRA ANI

Published

on

SolutionLens launch
Officials at the SolutionLens launch

In a bold step towards deepening transparency, accountability, and citizen participation in governance, the Anambra State Government has officially launched SolutionLens, a tech-driven platform designed to track government projects and strengthen engagement between citizens and the state.

The launch event, which was held on Thursday 15th May, 2025 at the SID  Building in Awka, brought together key stakeholders, including government officials, civil society groups, community representatives, development partners, and the media.

The platform was developed through a collaborative effort by the Ministry of Budget and Economic Planning, the Ministry of Information, and the Anambra State ICT Agency.

Representing the Governor, Mrs. Chiamaka Nnake, the commissioner for Budget and Economic Planning, described SolutionLens as “OGP made easy and a democratic tool.” She emphasized its value in planning, budgeting, and fostering investor confidence, thanks to its community-based feedback mechanisms.

In her welcome remarks, Mrs. Ogochukwu Orji, the State Coordinator of the Open Government Partnership (OGP), noted that SolutionLens is “built to shine a light on public projects and empower citizens to ask questions, hold government accountable, and ensure our shared resources are used for the common good.”

Key features of the platform include:

  • A centralized digital hub for government projects
  • Interactive maps and a user-friendly interface
  • A live chat feature to connect citizens directly with MDAs

Speaking during the event, Dr. Law Mefor affirmed that the platform will help Ndi Anambra “access real-time information on what government is doing,” while CFA highlighted its ability to “capture and preserve moments,” underscoring the value of technology in governance.

SolutionLens launch
Government officials present at the SolutionLens launch

One of the key highlights of the launch was a live demonstration of the SolutionLens platform, followed by the formal inauguration of MDA focal persons who will serve as key liaison officers in ensuring the platform remains updated and responsive.

Participants at the launch commended Governor Charles Chukwuma Soludo, for this forward-thinking initiative, describing SolutionLens as a game-changer in how government connects with its people.

As part of its next steps, the government urged all citizens to actively engage with the platform and help spread awareness. This, they emphasized, will not only benefit Ndi Anambra today but safeguard the integrity and prosperity of the state for generations to come.

Continue Reading

GRTech

Nigeria’s Biggest Tech Conference Opens in Enugu

Minister Bosun: I’ve never seen anything so big | Mbah: We’re driven by the knowledge that the future is technology, reports SANDRA ANI

Published

on

Enugu Tech Festival
L-R: Minister of Youth Development, Ayodele Olawande; Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tjinani; and the Governor of Enugu State, Dr. Peter Mbah, during the opening of the 2025 Enugu Tech Festival at the International Conference Centre, Enugu, Wednesday.

The 2025 Enugu Tech Festival being organised by the Enugu State Government kicked off on Wednesday with the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, describing it as the biggest technology conference that has ever happened in Nigeria.

Tijani said the Tech Festival, which attracted thousands of youths from within and outside the state, was a major leap for Nigeria’s determination to build a robust digital economy, noting that Enugu State under Governor Peter Mbah, had moved from policy to progress to lead the tech revolution in Nigeria.

This was even as Governor Peter Mbah urged the youths to embrace technology, insisting that the future is technology.

Speaking, the Minister said that the Tech Festival, tagged Coal to Code, fitted into the agenda and activities of the Federal Ministry of Communications, Innovation and Digital Economy, having recognised that the future of digital economy in Nigeria would not only be built in Abuja, but would instead be co-created across all states.

“Enugu is showing how this should and will be done. I have never, never been to a conference on technology in Nigeria that is this big. I founded the first technology hub in Nigeria, the very first in Nigeria. So, I know a thing or two when technology people gather. I can assure you that today, you are part of history because we have never seen anything this big in Nigeria before.

“There is something powerful about your state: the energy, the ambition, the possibilities. Just two years ago, only a few people could imagine this kind of tech momentum. But today, Enugu has not just imagined, Enugu is building it. Under two years, we have seen investment in digital infrastructure, and the innovation ecosystem of the state.

“What is happening today in Enugu is part of something bigger. We are now witnessing a generational rise, not one where people complain and protest, but one where creativity is used to shape the future. Not just with passion, but with precision,” he stated.

While commending the participants for rising to “create the kind of Nigeria the world will pay attention to,” Tijani called for collaboration, commitment, and hard work by all stakeholders to make it happen.

“Progress is not automatic, but needs all of us. It needs the government to continue to be brave. It needs the private sector to invest deeper. It needs mentors, builders, teachers, and it needs leaders,” he concluded.

Speaking, Governor Mbah, while highlighting how his administration had invested in technology to dramatically revolutionise security, land administration, education, among others, noted that the Enugu Tech Festival was part of his government’s wider efforts to build the youth of the state into wealth creators and highly sought-after workforce of tomorrow’s workplace.

“The power of technology and innovation and what we can accomplish is something that I want the youths to be mindful of. If you look at the way things are being done in the world today, we are now talking about an era where people just sit down with great ideas, create platforms where they begin to essentially benefit from that platform.

“An example is the Uber that came and disrupted the city taxi without owning a key. Today, they provide by far the largest traffic just by creating a platform. You can extend that to Airbnb. Without owning a key, these guys have disrupted the business of those who own several brick and mortar houses. You can also extend that to Tesla. That is the power of technology. This shows essentially that technology is where the future is,” he emphasised.

In his remark, the Commissioner for Innovation, Science and Technology, Dr. Lawrence Ezeh, said the Enugu Tech Festival, which would now become an annual event, underscored a paradigm shift from the old Enugu known for coal to one that has become a rising force in Nigeria’s tech-driven future, a beacon of innovation, intellectual capital, digital enterprise, and endless possibilities.

“For decades, our identity was built on coal, a resource that powered Nigeria’s industrial rise. But today, we stand in a different kind of power—the power of knowledge, innovation, and technology,” he stated.

Also at the event were the Minister of Youth Development, Ayodele Olawande; Speaker, Enugu State House of Assembly, Hon. Uchenna Ugwu; former Minister of Science and Technology, Prof. Barth Nnaji; Chairman of Zinox Technical, Leo Stan Ejeh; and the Group Managing Director, Afrinvest, Dr. Ike Chioke, among a host of others.

Continue Reading

Trending