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Crowdyvest Rejigs Leadership, Unveils New Investments

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Crowdyvest

By Adedapo Adesanya

Crowdyvest Limited, an impact-driven fintech platform, has announced a big change in its leadership and additional investment in the company in a bid to scale up as a digital savings company.

Crowdyvest was created to provide all-in-one financial solutions for individuals and businesses to achieve short or long-term goals while facilitating impactful growth in line with the United Nations 17 Sustainable Development Goals.

The fintech company went live in beta-stage in August 2019 but launched fully as a crowdfunding platform in January 2020 where its users and sponsors can sponsor high-impact opportunities that yield good benefits through its pooled sponsorships and individual projects.

In a statement released on Wednesday, the company announced Mrs Onyeka Akumah will officially step down as the CEO of Crowdyvest and Mr Tope Omotolani who is currently the Managing Director and also a co-founder, will become the new Chief Executive Officer of the startup, effective immediately.

The company that despite this change in leadership, all the management and staff of Crowdyvest will be retained.

it noted that as a result of the new investment in Crowdyvest, the fintech startup will completely exit the EMFATO Holdings group and also transition from its previous crowdfunding model to making strides as the go-to digital wealth management and savings platform under Mr Omotolani’s leadership.

Commenting on the development, the outgoing boss, Mrs Akumah said, “I have taken this decision to step down as the CEO of Crowdyvest as a result of the new investment in the company which gives it good footing for scale. Today, Crowdyvest is exiting fully from EMFATO Holdings and we are very happy about the new investors led by Tope and excited to see how Tope will lead this business to new heights.”

Speaking on her next voyage, she noted, “I will now focus more on leading Farmcrowdy and Plentywaka as CEO of both companies into new markets in 2021. Tope is a strong and amazing leader and I see her leading Crowdyvest to become one of the leading wealth management companies in Nigeria within the next 3-5 years. I wish her and the team all the best and will continue to advise them on their journey when needed’’.

The new CEO, Mr Omotolani said “it’s an honour and a privilege for me to be able to lead the team to the next level and next chapter of the business. Onyeka founded this company on the ethos of integrity and strong customer satisfaction and I’m grateful for the opportunity to continue to lead this technology company into its next chapter.

“Our major goal and focus as Crowdyvest are that we see a lot of people become financially free and we’re able to do this by the products that we create on the platform”.

Crowdyvest also launched the Crowdyvest Savings Platform to give savings options to over 10,000 subscribed members on its platform. This savings platform will give its members a variety of plans to help build a savings culture based entirely on their pace, so they can reach their life goals faster.

The savings platform has four products that are properly tailored to fit all categories of individuals, including the Millenials, Gen Z, Gen X, and Baby Boomers, and each of these products have their unique features and benefits. They are;

Flex Savings which speaks to our young and trendy Gen Zs and Millenials, gives them the opportunity to save as much as they like with the option of withdrawing their money at any time during the year with a withdrawal fee of 2 per cent. The Flex savers also have the opportunity of 7 official withdrawal days which comes without a withdrawal fee.

Vault Savings here, users have the opportunity to safely deposit money into their vaults and lock it for a period of time (3 months, 6 months, or for years). Funds deposited in the vault will be locked and ineligible for withdrawal throughout the locked period. The vault savings is for long-term savings and is targeted at pensioners, trust funds savings, legacy savings, etc.

Pace Savings, savers have the opportunity to deposit money as they wish for a set target. The pace savings option is recurring starting with the least period of 3 months. The money can be deposited automatically into the plan or manually based on the saver’s preference. The plan is targeted at salary earners, entrepreneurs, etc.

Flex Dollar Savings gives savers the opportunity to save and earn returns in dollars. Crowdyvest Members have the opportunity to grow their savings in a more valuable & stable denomination.

Every saver enjoys the benefits of good interest rates from 12.5 per cent to 15 per cent, zero bank charges, plans tailored for everyone, and effective and prompt customer service.

The company also has referral opportunities where one can earn as much as N1000 for every person referred to Crowdyvest.

Previously as a crowdfunding platform, Crowdyvest was able to create an impact by funding 24 projects across various sectors including Agriculture, Real Estate, Transportation, etc, has worked with 9 project partners,  has operated in 17 states with over 10,000+ active sponsors,  over 90,000+ total users, and over 8,000 Monthly Active Users.

Today, the company is a Digital Savings platform with a closed membership, Crowdyvest will provide financial solutions for her community of individuals and organizations that are committed to long-term growth and financial freedom.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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We Sacked Only 450 Workers, Not 900—Kaduna Electric

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Kaduna Electric

By Adedapo Adesanya

The management of Kaduna Electricity Distribution Company (KADECO) has clarified that only 450 staff members, not the reported 900, were disengaged from its service amid a continued strike that has left its franchise state in darkness.

The industrial action, which began on Monday, was initiated by the National Union of Electricity Employees (NUEE) in response to the alleged mass layoff and other grievances, including non-payment of pensions and inadequate work conditions.

The aggrieved union had claimed that 900 of its members were affected by the action of the company.

Business Post earlier reported that workers blocked the entrance to Kaduna Electric’s headquarters, halting operations and leaving residents without power.

NUEE officials have expressed strong opposition to the management’s actions, labeling the planned layoffs as “unacceptable” and emphasising that they will continue their protest until their demands are met.

The management’s letter, dated January 31, 2025, indicated that affected workers were to return company property and would receive their severance packages in due course.

Responding to these allegations, Kaduna Electric said the restructuring, though difficult, was a necessary step to align the company with current market realities and create a more efficient workforce.

The company also said its management has initiated a comprehensive transformation exercise to ensure the company’s long-term sustainability.

“Contrary to claims by labour unions that 900 staff members were affected, the company confirms that “services no longer required” letters were issued to 450 employees.

“This decision was made in response to significant operational and financial challenges that have hindered the company’s ability to meet its market & operational obligations,” the energy firm explained.

It emphasised that this right-sizing initiative alongside capital investment are crucial for implementing impactful measures to improve operations and ensure sustainability.

The company expressed regret over the prolonged power outage caused by the industrial action, which lasted over 24 hours to some of the customers across its franchise, and restated its commitment to resolving labor disputes amicably and restoring normal operations as quickly as possible.

“The management also thanked security agencies for their support during the industrial action, ensuring the safety of personnel and facilities during this challenging period,” it noted, reassuring its customers of its dedication to providing reliable power supply and apologised for the inconvenience caused by the outage.

“The company remains focused on overcoming its current challenges and emerging stronger to better serve its customers and stakeholders,” it said.

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Azubike Emodi Takes Over as New Afriland Properties CEO

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Azubike Emodi

By Adedapo Adesanya

Afriland Properties Plc has appointed Mr Azubike Emodi as its new chief executive, a statement from the chairman of the company’s board, Mr Emmanuel Nnorom, has revealed.

In the statement issued on Tuesday, Mr Nnorom said Mr Emodi is taking over from Mr Uzo Oshogwe, who led the organisation since 2013. He is left the position to take over as the chief executive of Transcorp Hotels Plc.

The chairman noted that Mr Emodi will bring over 20 years of experience spanning financial services, real estate development, and strategic planning.

He described him as a visionary leader that had consistently driven organisational growth and delivered transformative results in several companies, including Royal Bank of Canada, VFD Group, VBank, Anchoria Asset Management, and most recently, Herel Global.

Mr Nnorom said the new Sheriff in town would drive the vision of Afriland Properties, creating from value from its position as one of Nigeria’s largest land banks, adding that the real estate firm will continue to deliver the significant residential and commercial real estate projects in its project pipeline.

“We are delighted to welcome Azubike Emodi as the new Managing Director/CEO of Afriland Properties Plc.

“His vast experience, strategic mindset, and exceptional leadership make him the perfect choice to lead the company’s next growth phase.

“With his expertise, we are confident that Afriland will continue delivering innovative real estate solutions and creating value for stakeholders.

“His leadership aligns seamlessly with our core values of Enterprise, Excellence, and Execution,” he said.

Expressing enthusiasm for the role, Mr Emodi said he was honoured to lead the company at such pivotal time, noting that its strong legacy of innovation and excellence in real estate development was unrivalled.

He expressed the optimism to work with the company’s talented team to drive sustainable growth, create world-class properties, and enhance stakeholder value.

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Oscar Ivara Becomes Spokesman for Tincan Island Command of Customs

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Oscar Ivara Tincan Island Customs

By Bon Peters

The Tincan Island Command of the Nigeria Customs Service (NCS) in Lagos has a new public relations officer (PRO) and he is Mr Oscar Enya Ivara, a Superintendent of Customs by rank.

The PR expert and member of the Nigeria Institute of Public Relations (NIPR) took over the position at a brief ceremony last Friday from SC Ngozi Okwara.

He promised to effectively explore the media landscape in Lagos and team up with his high-flying Area Controller, Mr Frank Onyeka, to keep the command’s activities relevant and engaging and to build trust and accountability with all port operators.

Mr Ivara joined the agency in February 2009 as a cadet inspector and has worked in different capacities, including as a station officer in the Bauchi/Gombe Area Command, patrol officer under the Enforcement Unit of Ogun 1 Area Command, PRO for Bauchi/Gombe Area Command, PRO for Ikorodu Lighter Command, and PRO for Area 1 Command Port Harcourt.

Born on April 6, 1978 in Abi LGA, Calabar, Cross River State, Mr Ivara boasts a BSc in Business Administration, a post-graduate diploma in Public Administration from Ahmadu Bello University Zaria, and an MSc in Customs Administration and Border Management from University of Port Harcourt, Rivers State.

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