The Summit themed: ‘Starting Local, Scaling Global’, is
aimed at driving conversation in the technology sector and accelerating its
impact on the social-economic development of Nigeria, by creating jobs,
improving the lives of people, and scaling up Nigeria’s tech presence globally.
Executive Director, Finance/Corporate Services, Mrs. Ijeoma
Ozulumba, in her opening remarks at the summit said ‘the initiative will avail
tech-based businesses and techie minds the platform to network and interact
with investors as well as DBN Participating Financial Institutions (PFIs) that
can help with finance to actualize or scale up their business.
She emphasized that the Techpreneur Summit underscores the
ambition of the Bank since it commenced operations in 2017.
According to her, “This underscore where our ambitions lie
in creating a favorable space in the ecosystem for tech. The future is hinged
on technology, so apart from the global trend, locally we continue to see that
technology is now about 18% of GDP.
ICT is the fastest-growing sector of the economy. Apart from
that, technology and digital transformation is not just a megatrend, it
underpins all the other megatrends in finance, engineering, and climate action
which is topical right now.’’
On the Bank’s disbursement, she informed that “The Bank has
since it started operations in 2017 given out loans to over 180,000 small
businesses amounting to over N400b in various sectors of the economy and a lot
of that is to tech-based start-ups. In 2020, DBN disbursed N190 billion, and
7,000 of those SMEs were accessing funding for the first time. This shows how
important this event is to us, and the commitment of the Bank to alleviating
the financing constraints faced by MSMSEs.”
Ozulumba added that “Our three-fold mandate is lending,
providing partial credit guarantee, and capacity building. The
capacity-building aspect is why we are having this summit today,”
Delivering his keynote address, serial investor and
MD/Co-founder, Trans-Sahara Investment Corporation, and newly appointed MD/CEO
Africa Operations, Inlaks Limited, Kyari Bukar tasked Nigerian techie minds and
techpreneurs on developing knowledge-based local solutions that have a
universal appeal and can put Nigerian on the global technology table.
“Technpreneurship is about finding solutions, and the
solutions better be local and should also have universal appeal. What is
happening globally is that factor-based economics are becoming irrelevant, I
don’t mean they are dead, I am saying they are not exciting as they used to be.
Today, everybody talks about a knowledge-based economy. The
beauty of tech is that it is the number one catalyst in changing the way we do
things. An example is the digitalization of the way we conduct business today,”
he said.
Citing the exploits of India in the global technology
landscape, the renowned investor, who started his career at the famous Silicon
Valley further stated that Nigeria needs to stop relying on the wealth derived
from mineral resources.
He said: “We need to change our dependence on what we pick
or drill from the surface of the earth and believe that will make us wealthy,
it is wrong. India is exporting $60b a year in software solutions and services.
Though Africa is coming late to the party, we can develop
unique solutions ourselves. The whole world is watching us and ready to invest
in us. Whether the government is there or not, when you have the will to create
and sell convenience, all you need are strong believers and support.”
Bukar who is also an Independent Director on the Board of
DBN, appreciated the Bank for organizing the Techpreneur Summit, saying it
showed the Bank’s readiness to partner techpreneurs in the county.
“For DBN, I say this Summit is the coming-out party in the
tech space. This is one space I believe in, and we would continue to be a
partner to Techpreneurs. And DBN is ready to be such a partner to all
Techpreneurs in the country.
This is the first DBN Techpreneur Summit, and I know that we
will continue this every year. Additionally, when I asked around, I found out
that this summit is not just about having a conversation like this, it is for
Techpreneurs to find the necessary network, and more importantly access to
finance on both sides of debt and equity. This shows that DBN is ready to be
such a partner to all Techpreneurs in the country,” he said.
Other discussants at the summit include Iyin Aboyeji
(Founder, Future Africa); Yemi Keri (co-Founder, RisingTideAfrica/ Independent
Non-Executive Director, FCMB); Charles Anyanwu (Director, Strategy, Funding
& Stakeholder Management, LSETF); Temie Giwa-Tubosun (Founder, Life Bank)
and Judith Okonkwo (Founder, Imisi 3D).
The Development Bank of Nigeria Plc is a wholesale
development finance institution, established by the Federal Government of
Nigeria in collaboration with global development partners (The World Bank,
AfDB, KfW, AFD, and EIB) to address the major financing challenges facing
Micro, Small, and Medium Scale Enterprises (MSMEs) in Nigeria.