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N5.8bn Loan: Omatek to Offer BoI Fresh Payment Option

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Omatek Computers Ventures Taken by BoI

By Dipo Olowookere

Efforts are presently being made by the board and management of Omatek Ventures Plc to resolve the company’s indebtedness to the Bank of Industry (BoI) so as to forge ahead.

Business Post gathered that in December 2012, nearly seven years ago, the firm secured a term loan and working capital facilities totalling N5.81 billion from BoI for the purpose of financing the procurement of assembly components for the production of laptops.

But things went bad for the company and it could not service this loan, which made the lender to obtain a court order to take over premises of the tech company.

Last week, precisely on Thursday, October 31, 2019, the board of directors of Omatek Ventures held a meeting at the Muson Center in Lagos and the issue of the N5.81 billion debt was discussed.

At the gathering, it was agreed that the bank should be approached with a view to finding an amicable way of resolving the matter, including offering a part of the company’s premises to BoI.

In a notice to the Nigerian Stock Exchange (NSE), the board said it was agreed that, “In the matter of the company and the Bank of Industry (BOI), a speedy resolution be sought as soon as possible, by making an offer to the bank to allow the company keep the factory and the entire stock contained therein, and that the unoccupied part of the premises be accepted by the bank as settlement of the debt; and that the bank should allow the company to participate in the N-Power ICT Empowerment program of the federal government, given that Omatek as an Original Equipment Manufacturer (OEM) has the capacity, experience and after sales support service required to implement the program.”

Business Post gathered that as part of the requirement for obtaining the N5.81 billion loan, the BoI had requested for the Irrevocable Standing Payment Order arrangement with the defunct Skye Bank Plc in its favour, all assets debenture and an Irrevocable Personal Guarantee of late owner of the company, Mrs Florence Seriki, who passed away in 2017.

The development finance bank said after the death of Mrs Seriki, it had several meetings with the acting Managing Director of the company, Mr Yemi Ogundipe, which confirmed the initial reservations of the bank that the company had issues bordering on corporate governance under the leadership of the late chief promoter.

“Though the current management of the company agreed to strategise and commence repayment after settling in, it was obvious that there was no clear plan on the ground to actualise that commitment,” the BoI had said.

But when things were not forthcoming, the matter went to court and Mr Ade Oyebanji was appointed by the lender as a receiver, who took inventory of all items located at the Omatek’s premises on Plot 11, Kudirat Abiola Way, Oregun , Ikeja, Lagos, in January 2017.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Truecaller, AnyMind Group to Expand Direct Sales Footprint

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New Truecaller Logo

By Modupe Gbadeyanka

The leading global communications platform, Truecaller, now has a strategic direct sales reseller partnership with AnyMind Group, a Business-Process-as-a-Service company for marketing, e-commerce and digital transformation.

Under this partnership, AnyMind Group will serve as the exclusive intermediary for Truecaller’s advertising inventory across Egypt, UAE, Qatar, Saudi Arabia, Israel, Ghana, Nigeria, Morocco, Malaysia, Singapore and Vietnam.

The scope of the partnership is focused specifically on enabling brands and agencies to leverage Truecaller’s premium ad formats to reach highly engaged, high-intent users through relevant, data-driven advertising solutions.

Through this collaboration, Truecaller will accelerate its direct advertising business across the Middle East & North Africa (MENA) and Southeast Asia (SEA) regions.

With a strong on-ground presence and established relationships with leading advertisers and agencies across MENA and SEA markets, AnyMind Group brings deep regional expertise that will support the scaling of Truecaller’s advertising footprint locally.

The partnership is designed to empower brands with impactful placements on Truecaller’s trusted communications platform, helping drive meaningful engagement with users in these fast-growing digital economies.

“As Truecaller continues to expand its global advertising business, partnerships with strong regional players like AnyMind Group are critical to delivering localised expertise and measurable outcomes for advertisers.

“MENA and Southeast Asia represent high-growth markets with evolving digital maturity, and through this collaboration, we aim to bring brands closer to consumers via trusted and contextual communication experiences on our platform,” the Vice President and Global Head for Truecaller Ads Business, Hemant Arora, said.

Also, the Managing Director for Growth Markets at AnyMind Group, Aditya Aima, said, “We are excited to partner with Truecaller to open its inventory to brands across MENA and Southeast Asia. With Truecaller’s scale and trusted user ecosystem, combined with our market depth and networks, we see strong potential to drive more relevant, high-impact advertising outcomes for advertisers looking to deepen engagement in these dynamic markets.”

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Capillary Technologies Acquires SessionM from Mastercard

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Capillary Technologies SessionM

By Modupe Gbadeyanka

A software product company established in 2012, Capillary Technologies India Limited, has acquired the customer engagement and loyalty company, SessionM, from Mastercard.

This followed a definitive agreement signed by the global leader in AI-powered customer loyalty and engagement solutions with the renowned digital payments firm.

The acquisition of SessionM is the latest in a series of strategic moves by Capillary, following its successful listing on the Indian Stock Exchange in November 2025.

With SessionM in its portfolio, Capillary reinforces its position as a global leader in enterprise loyalty, offering a leading platform to the world’s most sophisticated enterprise brands.

Mastercard has identified Capillary Technologies—consistently recognised as a Leader in The Forrester Wave as the ideal partner to lead SessionM into its next era of growth.

As part of the agreement, a specialised team within SessionM will transition to Capillary, ensuring that the platform’s deep technical expertise is preserved.

SessionM’s esteemed global customer base—which includes Fortune 500 retailers, airlines, and CPG brands—will continue to receive the same high-calibre support and service they experienced before the acquisition.

“M&A has been a key growth strategy for Capillary over the years, and as a public company, we are delivering on that promise to our shareholders and the market.

“By bringing SessionM into our portfolio, we are not just expanding our footprint across the globe; we are further strengthening our loyalty capabilities to deliver one of the industry’s most comprehensive offerings.

“Our mission remains to provide enterprises across industries with specialised, AI-native loyalty technology solutions,” the chief executive of Capillary Technologies, Aneesh Reddy, commented.

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Emergent Ventures, Others Invest $2.2m in Potpie

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potpie engineering software $2.2m capital

By Dipo Olowookere

About $2.2 million pre-seed round to help engineering teams unify context across their entire stack and make AI agents genuinely useful in complex software environments has been announced by Potpie.

Potpie was established by Aditi Kothari and Dhiren Mathur, who were determined to unify context across the entire engineering stack and enabling spec driven development.

As generative AI adoption accelerates, most tools focus on surface-level code generation while ignoring the deeper problem of context.

Large language models are powerful, but without access to system-level understanding, tooling history, and architectural intent, they struggle in real production environments.

Traditional approaches rely on senior engineers to manually hold this context together, a model that breaks down at scale and fails when AI agents are introduced.

The platform enables teams to automate high-impact and non-trivial use cases across the software development lifecycle, like debugging cross-service failures, maintaining and writing end-to-end tests, blast radius detection and system design.

It is designed for enterprise companies with large and complex codebases, starting at around one million lines of code and scaling to hundreds of millions.

Rather than acting as another coding assistant, Potpie builds a graphical representation of software systems, infers behaviour and patterns across modules, and creates structured artefacts that allow agents to operate consistently and safely.

A statement made available to Business Post on Monday revealed that the funding support came from Emergent Ventures, All In Capital, DeVC and Point One Capital.

The capital will be used to support early enterprise deployments, expand the engineering team, and continue building Potpie’s core context and agent infrastructure, it was disclosed.

“As AI makes code generation easier, the real challenge shifts to reasoning across massive, interconnected systems. Potpie is our answer to that shift, an ontology-first layer that helps enterprises truly understand and manage their software,” Kothari was quoted as saying in the disclosure.

A Managing Partner at Emergent Ventures, Anupam Rastogi, said, “In large enterprises, the real challenge is not generating code, it is understanding the system deeply enough to change it safely.

“Potpie’s ontology-first architecture, combined with rigorous context curation and spec-driven development, creates a structured model of the entire engineering ecosystem. This allows AI agents to reason across services, dependencies, tickets, and production signals with the clarity of a senior engineer. That is what makes Potpie uniquely capable of solving complex RCA, impact analysis, and high-risk feature work even in codebases exceeding 50 million lines.”

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