Letter To Nollywood

I received good replies from intelligent and wise people who read the firrst important and timely letter I wrote to NOLLYWOOD. The following is an updated version of it 

As written in 

◄ Proverbs 11:14 ►

"For lack of guidance a nation falls, but victory is won through many advisers."

The wisdom of the world is nothing to the Wisdom of God.

It is important to accept wise counsel.

I have updated this message, because a big insurance company told me last week that when the company wanted to support Nollywood, the President of the Directors Guild of Nigeria (DGN) of over a decade ago and the leadership of the Association of Movie Producers (AMP) antagonized each other and refused to cooperate on the program. So, the company left and never wanted to support Nollywood again.

When I recommended that AMP should be changed to the appropriate Producers Guild of Nigeria (PGN), it is for the best interests of the Nigerian film industry. 

Intrigues and shenanigans are childish and foolish in professional bodies.

Unprofessional practices have actually caused the untimely demise of several actors and producers in Nollywood without any insurance policy.

The good news is: I have attracted another multinational company in the entertainment industry and I have already recommended a thorough seasoned professional in Nollywood to them. Because, she is above aboard; a woman of substance; a woman of dignity, integrity and nobility of over 40 years professional experience in the Nigerian film industry; from the cradle of Nollywood, the Nigerian Television Authority (NTA) where I also started my career and was paying my monthly tax from the age of 17, when I was earning N400 monthly for four years before going on to work for the John Hopkins University''s Population Communication Services (JHU/PCS) at 21 as a public health illustrator and later as a translator (through which I paid, the Nollywood actor, Kanayo O. Kanayo to do translation of English into Igbo for the family planning methods booklets fully illustrated by me for the whole Nigeria. I met him at the Radio Nigeria office in Ikoyi, Lagos).

Finally, from a dialogue in my "Once Upon a Time in Nollywood":

Even if you are driving a stolen car in Nollywood since 2010 to date, do your best to drive it well and maintain it, so that people will not even know the truth. I will even enjoy the jolly ride with you and your passengers 😀.  

PS: 

For those who are good enough for the production of documentary films, funding is available for you.

I don't know if anyone applied for the Sundance Documentary Fund I mentioned before the closing date. If you did not apply, you can apply for the 2024 round closing in April.

https://apply.sundance.org/res/p/2023dfpfaq

The Sundance Institute was funded by the MacArthur Foundation.

If you have a film festival with a film institute or foundation, you can apply for the establishment.

We need a Nollywood Museum for the Nigerian film industry from the making of the first feature, "Palaver" of 1926 to date.

See details on The MacArthur Foundation grants.

100&Change, our competition for a single $100 million grant, is open to any proposed solution to any critical problem of our time. Nonprofit and qualifying for-profit organizations may apply. The competition cycle repeats every three years.

https://www.macfound.org/info-grantseekers/

PS:

Please, don't apply for funds to misappropriate the money to enrich yourselves. If you do so, I will also report the misappropriations of the funds which I have done before as a national Program Consultant for the UNICEF in Nigeria for NGOs.

We cannot point accusing fingers at the government for corruption when we are not innocent of corruption. 

Corruption is corruption; from the closet to the Office of the President; from the bedroom to the boardroom.

I have seen greedy filmmakers in Nollywood who misappropriated hundreds of thousands to millions of naira given to them for film and TV productions. And the funders have been disappointed and discouraged from supporting Nollywood and the Nigerian film industry.

- By Ekenyerengozi Michael Chima,.

The  Publisher/Editor,

NOLLYWOOD MIRROR® Series,

The first book on Nollywood and the Nigerian film industry since 2013. Distributed by Amazon, Barnes and Noble and other booksellers.

Partech Africa Report: Resilient African Tech Ecosystem Still Growing with $6.5 Billion Raised in 2022

PRESS RELEASE

Presenting the 2022 Partech Africa Report: Resilient African Tech Ecosystem Still Growing with $6.5 Billion Raised in 2022

Partech Africa, the VC fund dedicated to technology startups in Africa, has issued its annual report on Africa Tech Venture Capital

DAKAR, Senegal, January 24, 2023/ -- Amid the drastic pullback in global VC funding, the African tech ecosystem stands out with +8% growth from 2021. Debt funding doubled in volume to $1.5B, accounting for nearly a quarter of the total funding. Fintech, still leading, attracted 39% of the total equity volume; Nigeria retained the top spot with 23%

Partech Africa, the VC fund dedicated to technology startups in Africa, has issued its annual report on Africa Tech Venture Capital. The report, which aims to provide a practical picture of the state of the ecosystem, revealed that despite the global VC downturn, the African tech ecosystem grew faster than all other markets globally. 

Total funding invested into tech startups on the continent reached $6.5B, an increase of 8% vs 2021, spread across 764 deals - compared to 724 rounds in 2021. The report, consisting of disclosed and confidential deals, saw debt funding more than double in volume, reaching $1.55 billion through 71 deals [65% YoY growth]. In comparison, equity rounds showed a slight decline, as 653 African tech startups raised $4.9B [-6%] in 693 equity rounds [2% YoY growth].

Focusing on the equity funding, the report revealed the ecosystem was still accelerating during Q1 and Q2 of 2022 compared to 2021, with the YoY comparison showing Q1 and Q2 at +127% YoY and +83% YoY, respectively. However, the global VC slowdown stifled growth in activity in Q3 [-65% YoY] and Q4 [-35% YoY]. In 2022, fundraising activities remained flat across all stages. At $1.4M, Seed+ ticket sizes averaged higher in 2022 [+12% YoY], while Series A remained the same at $8.5M. Later stages reverted to 2019 levels, as Series B and Growth round sizes dropped by -23% and -50% YoY, respectively. In addition, 2022 witnessed a significant reduction in the number of megadeals [over 100M], with only seven deals compared to 14 in 2021.

Speaking on the launch of the annual report, Tidjane Deme, General Partner at Partech, said: "2022 was a particularly challenging year for the venture ecosystem worldwide, as venture and growth investors scaled back their investment by a third. However, by comparison, our report revealed the African tech ecosystem showed great resilience, as more investors have doubled their commitment to the continent by investing in local teams and funds dedicated to the market, which is proving to be the best way forward.”

Overall, Nigeria, South Africa, Egypt and Kenya remain the top investment destinations in Africa, with a share of total volume staying relatively steady at 72%. Nigeria retained the top rank, bringing in  $1.2B in capital, despite a decline of 36% from 2021; South Africa, Egypt, and Kenya each attracted over $0.7B in funding, with Ghana completing the top 5 with just over $0.2B. Overall, 28 countries attracted equity funding in 2022, 13 of them in Francophone Africa..

In light of the market downturn, the report’s findings also revealed that Fintech, which has historically attracted sizable investments, was the most impacted by the slowdown in the number of large rounds. However, fintech remains the most funded sector in Africa, and this across all sources of capital, with 39% of the total equity volume [$1.9B] and 45% of the total debt volume [$691M]. Other sectors have experienced substantial growth and gained a meaningful share of the equity funding activity this year, most notably Cleantech, which made a big comeback with 18% of total equity funding at $863M [+347% YoY] but also 39% of the total debt funding at $605M. 

The report's findings also show:

Female-founded startups raised 22% of all equity rounds in 2022, up 2 percentage points from 20% in 2021. They also contributed $644 Million or 13% of the total equity funding, down 3 percentage points from 16% in 2021.

Outside of the top 4 countries, Ghana ($202 million), Algeria ($150 million), Tunisia ($117 million) and Senegal ($105 million) were the only other countries that broke the $100M funding mark.

Despite a slowdown in the growth rate of equity investors, Africa’s tech ecosystem attracted 1,149 unique investors for the first time [+29% YoY in 2021]. African tech has seen more investors committed, with 89 participating in 5 or more deals (compared to 65 investors in 2021).

The number of debt investors active on the continent is growing 2.5x YoY, with a good mix of local debt institutions, international lenders with emerging market vehicles and Development Finance Institutions.

Cyril Collon, General Partner at Partech, added: “Much of our methodology has remained the same over the years, and we, therefore, can provide a snapshot of how the African continent has evolved over the years. Nigerian and the fintech vertical have remained at the top spot; however, in an environment where equity funding is more challenging, debt has proved to be a solid alternative source of African tech startups in 2022, which signals a maturity within each sector.”

Headquartered in Dakar, Partech Africa is the largest VC fund dedicated to technology startups in Africa. With a focus on Late Seed, Series A and B equity rounds in startups which are changing the way technology is used across multiple sectors, including education, mobility, finance and healthcare, the VC has, to date, invested in 17 African startups, such as Wave (http://bit.ly/3J9lGqy) and TradeDepot (http://bit.ly/3R2IgD9). Using the same methodology as previous years, the seventh Partech Africa annual report on African tech start-ups only includes equity rounds where the total amount is higher than US$200K.

To download the full ‘2022 Africa Tech Venture Capital’ report, click here (https://bit.ly/3R5mChF).

Distributed by APO Group on behalf of Partech Partners.

For media inquiries:

Isabelle Tresson: +33 7 86 08 85 85

itresson@partechpartners.com

About Partech Africa:

Headquartered in Dakar, Senegal, Partech Africa is the largest VC fund dedicated to technology startups in Africa. Partech Africa focuses on series A and B equity rounds in startups which are changing the way technology is used in education, mobility, finance, healthcare, delivery, energy, etc.

About Partech:

Born in San Francisco 40 years ago and now headquartered in Paris, Partech is one of the most active tech investors in the world, bringing together capital, operational experience, and strategic support for entrepreneurs at seed, venture and growth stages. The company manages more than €2.5B and its current portfolio includes 210 companies in 40 countries in Africa, Asia, Europe and the US.

www.PartechPartners.com

SOURCE

Partech Partners

PanAfrican Capital Holdings Sets Up The Catalyst Project To Promote African Entrepreneurship

The Catalyst

PRESS RELEASE

PanAfrican Capital Holdings Sets Up The Catalyst Project To Promote African Entrepreneurship

LAGOS, Nigeria, December 13, 2021/ -- In commitment to its vision to deliver exceptional services in chosen markets and create value for stakeholders, PanAfrican Capital Holdings ‘PAC Holdings’ has set up a venture capital project, to be known as The Catalyst (www.TheCatalystAfrica.com), to identify and invest in growth to product-expansion stage companies with convincing business models and market opportunities.

As a proprietary investment company with the focus to offer strategic investment solutions and unlock value across emerging and frontier markets across Africa, PAC Holdings acknowledges the vital role of technology in driving economic growth in Africa.

According to the Venture Capital in Africa Report, “90% of all reported VC deals between 2014 and 2020 were in technology-enabled companies operating across a variety of sectors. Financials accounted for the largest share of VC deals by both volume (22%) and value (26%) from 2014 - 2020, with Information Technology (18%) and Consumer Discretionary (16%) accounting for the second and third largest share of VC deals by volume within the same timeframe.” This trend is expected to continue with more opportunities for technology solutions arising in a post covid world.

Toluwalope Oni, the Global Coordinator of The Catalyst, said, “The Catalyst Project has been set up to facilitate and finance the delivery of technology enabled solutions, as well as promote African entrepreneurship. Our industries of primary focus are pivotal gears of a digital African economy, and these include finance, education, health, agriculture and logistic.”

Some of the objectives for the initiative include driving a culture of innovation and contributing to the delivery of forward-thinking market value across Africa.

“The project’s target is to inject an initial sum of $1,000,000 into ‘growth stage’ businesses that meet its criteria of; a clearly defined minimum viable product, solving a need/gap either on the demand or supply side in Africa, generating revenue enough to cover direct costs, seeking capital to boost expansion required to achieve exponential scale and little or no debt balances in the company’s balance sheet,” the Global coordinator added.

The identified sectors, given current macro-economic realities, represent the key underlying catalyst for Sustainable Economic Growth in emerging and frontier economies. Selected businesses that become successful would benefit from PAC Holdings access to an ecosystem of strategic investors & mentors, and enjoy product/service synergies.

Distributed by APO Group on behalf of The Catalyst.

Media Contact:
On behalf of PanAfrican Capital Holdings Limited
Omolola Ojo
Email: omolola.ojo@panafricancapitalholdings.com

Follow us on:
Twitter (https://bit.ly/3EQyu0j)
Facebook (https://bit.ly/3ynkWGQ) 
Instagram (https://bit.ly/3pQjEk2)

About PanAfrican Capital Holdings:
PanAfrican Capital Holdings “PAC Holdings” is a Proprietary Investment Company with special focus on Key Sectors across Africa including Financial Services, Hospitality & Entertainment, Real Estate & Infrastructure, Agro-Allied & FMCG, Healthcare, Renewable Energy, and ICT & Media.

With specialist subsidiary companies across chosen sectors. PAC Holdings is geared towards offering strategic investment solutions and unlocking value across emerging and frontier markets. The company’s corporate Head Office is in Lagos, with presence in Accra, Nairobi and Mauritius.  With Over the years, we have created strong strategic alliances with multilateral financial institutions such as African Export-Import bank, Africa Development Bank, Africa Finance Corporation, Development Bank of South Africa, Bank of Industry, Nigerian Export-Import bank and other banks across the continent.

For more information, visit www.thecatalystafrica.com

SOURCE
The Catalyst

Welcome To FOCUS 2021, The Meeting Place For International Production

You are welcome to join us at FOCUS 2021

THE MEETING PLACE FOR INTERNATIONAL PRODUCTION

Business Design Centre London, UK.

From 7-8 December for the live component, with the virtual venue operating from 7-10 December. 

Whether you participate in person or online, FOCUS will continue to offer a vibrant space to connect, reconnect and share global production expertise across film, TV, advertising, animation and games.

Here is the link to sign up for the free delegate badge..
https://bit.ly/FOCUS21_reg.

Illicit Cigarette Trade Funds Terrorism and Organized Crime

18 Jun 2010 06:20 Africa/Lagos


Illicit Cigarette Trade Funds Terrorism and Organized Crime

KIEV, Ukraine, June 18, 2010/PRNewswire/ --


There is clear and convincing evidence that large sums are being siphoned from the multi-billion dollar revenues from the global cigarette smuggling trade into the pockets of terrorist networks and international organized crime.


A United Nations Security Council investigative body, the Group of Experts, has reported that millions of dollars in illicit tobacco revenues are reaching al-Qaeda, the Taliban and other terrorist organizations, and is financing Congolese rebels for the recruitment of child soldiers, mass rape and murders.


The World Health Organization's Framework Convention on Tobacco Control has determined that 600 billion counterfeited and smuggled cigarettes cross national borders annually. This represents USD $50 billion in lost proceeds affecting nations throughout the world. The most recent edition of the authoritative Tobacco Atlas, released by the American Cancer Society and World Lung Foundation also concluded: "Cigarettes are the world's most widely smuggled legal consumer product."


Despite disturbing trends in many other nations, the Ukraine, with a population of 45 million, and with porous borders, has an extremely low rate of 1.7% of its total market in contraband tobacco. The Ukraine utilizes the EDAPS Tax Stamp System to control the illicit sales of products and EDAPS is now offering comparable systems to other nations.


"Our hologram technology and enforcement methodology with our Track & Trace System, enables government agencies to not only substantially increase their revenues from the sale of excisable products but to dramatically block illegal uses that often fund transnational criminal and terrorist activities," said Alexander Vassiliev, Chairman of EDAPS.


Since 9-11, the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives has reported that smugglers with ties to terrorist groups were acquiring millions of dollars from illegal cigarette sales and funneling the cash to al-Qaeda and the Taliban. At the same time, the booming black markets are fueling not only terrorist groups but dozens of organized crime gangs, who find the big profits and low risk hard to resist, according to the latest study by the Center for Public Integrity.


The first large-scale cigarette trafficking case tied to terrorism was prosecuted in North Carolina in 2002. A federal jury in Charlotte convicted Mohamad Hammoud, 28, of violating a ban on providing material support to terrorist groups by funneling profits from a multimillion-dollar cigarette-smuggling operation to them. Prosecutors were able to prove that huge profits from the venture were sent to high-ranking terrorist leaders.


"This is a major priority for us," Michael Bouchard, assistant director of the ATF told the Washington Post. "The deeper we dig into these cases, the more ties to terrorism we're discovering."


A Congressional study prepared by the U.S. House Committee on Homeland Security -- "How Cigarette Smuggling is Funding our Enemies Abroad" -- concluded, "Recent law enforcement investigations have directly linked those involved in illicit tobacco trade to infamous terrorist organizations."


A report by the International Consortium of Investigative Journalists -- "Tobacco Underground" -- charts the paths of smugglers working for the Taliban and others. The report explains how the multibillion-dollar business fuels organized crime, robs governments of tax money and spurs addiction.


As the Twelfth United Nations Congress on Crime Prevention and Criminal Justice concluded at their meeting in Brazil last month, "Organized crime and terrorism pose greater threats to international peace and security than ever before."


"We are confident that our EDAPS Tax Stamp System can substantially contribute to global efforts to cut off essential funds from those engaged in a wide range of transnational crime and terrorism," Vassiliev concluded.


Source: EDAPS Consortium

Olga Lyubimova, +38044-5612570 ext. 11, Fax, +38044-5612545


Releases displayed in Africa/Lagos time
18 Jun 2010
06:30
Maurel & Prom - Projet Nigeria : Accord de la NNPC
17 Jun 2010
20:00
IHV and Nigeria Partner with the U.S. to Combat Multi-Drug Resistant Tuberculosis
18:25
BET Awards '10 Adds Heat to an Already Explosive Performance Line Up With Eminem, Alicia Keys, Usher and T Pain
15:08
World's First Young Champions of Maternal Health Named by Ashoka and the Maternal Health Task Force
11:30
Global Planned Oil and Gas Pipelines Industry to 2013: Investment Opportunities, Analysis and Forecasts of All Planned Pipelines Now Available at ReportsandReports
16 Jun 2010
09:39
Presentation of the World Social Science Report 2010 on 25 June 2010 at UNESCO Headquarters