SE2030- Investment Platform For South East Nigeria

by Sam Igwe in Nigeria

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Unfortunately this project was not successful.

This Platform will intensely focus people and capital towards the economic transformation of the South East region of Nigeria over 10yrs

by Sam Igwe in Nigeria

What is SE-2030

SE-2030 is an Investment Marketplace and Community Platform.

Its aim is to identify and promote projects that will lead to the economic development of the South East Geo-Political Zone of Nigeria

We define the South East Geo-Political Zone of Nigeria as the States of: Abia, Anambra, Ebonyi, Enugu, Imo, and also the contiguous areas which are parts of Delta, Rivers and Akwa Ibom States.

The indigenous people of this area of Nigeria, mostly of the Igbo ethnic group, are recognised for their remarkably strong entrepreneurial spirit and republican mindset.

Whilst majority of the commercial activities in Nigeria are driven by people from the SE area of Nigeria, the area itself is poorly developed economically in terms of Social Infrastructure compared to several other parts of Nigeria.

SE2030 is designed to turn this situation around by helping to develop the South East to become the economic hub of Nigeria and West Africa in 10 years.

We will do this by using our technology to harness the available human and material resources of the South East and apply them more effectively and efficiently

Our Mission:

  • To attract capital investment to the economy of the South East Zone by opening sophisticated channels of communication between local and international stakeholders.
  • To drive regional economic integration through promotion of joint infrastructure projects and markets development within Zone.
  • To facilitate rapid commercialisation and inward investment to the South East Zone.
  • To accelerate the efforts to achieve SDGs within the Zone.
  • To enlist people like you to actively participate by investing your time and money to build new businesses and drive development in the South East of Nigeria.

The Problem

1. Inadequate Public Infrastructure

The South East is inadequately provided for in public funded investment projects in areas such as transportation networks, heavy industry, communications and electricity infrastructure.

No infrastructure means business investments, real estate development, job opportunities all slow down.

Then poverty goes up, which leads to the migration of enterprising people from the South East into other places where, as migrants, their social mobility is severely limited.

Their ability to earn a decent income and prosper becomes limited too which also affects the amount of political influence they can accumulate to help change decisions to make their situation better.

2. Inadequate Institutional Funding For Business Investment In South East.

Historically, less than 30% of funds earmarked for start-up and small businesses actually gets disbursed to real business applicants in Nigeria.

Nigerian commercial banks have cited the lack of 'viable' business plans and adequate collateral cover as the main constraints to small business funding in Nigeria particularly in the South East.

In this situation the Entrepreneur in the South East is faced with practising what can be called subsistence business in a very hostile climate, relying on resources available to him through his own labour, or from friends and family in order to operate his business.

Such conditions reduce the likelihood for the business to grow and for the multiplier effects to be felt in the wider community.

3. Poor Regional Competitiveness:

In contrast, in places like Lagos there is much greater flow of investment capital to projects. There is a huge appetite in the public and private sector for investment in major economic projects capable of transforming the local economy in Lagos. 

Invariably, the opportunities created by projects like the Lekki Free Trade Zone and the Eko Atlantic City as well as their accompanying sub projects become an irresistible attraction for the migration of Entrepreneurs from the South East.

These problems lead to poor economic development, unemployment, increase in poverty rates, net migration and brain drain in the South East. 


The Solution

A private sector led solution is an inescapable option for the rapid transformation of the South East.

The potential of this solution is underlined by the following facts:

  • SE has sufficient human capital. A large and vibrant local population with entrepreneurial abilities, and locally and internationally based individuals who posses the relevant industrial expertise in various sectors.
  • SE has a large population living in the diaspora who have a committed interest in the economic development of SE, who regularly send remittances from their income abroad home. 

Using technology we are able to converge the inherent  human, material and natural resources of the South East to focus specifically on the economic development of the Zone.

To do this successfully, have created an online platform to connect:

  • Ideas
  • Opportunities
  • Entrepreneurs
  • Consultants
  • Investors
  • and Markets.

By bringing these elements all together in one place regardless of time or distance we can then provide the information and tools necessary to execute and manage projects more efficiently.


Our Goals:

By the 31 of December 2030 we aim:

  • To launch 1280 new businesses (10 new businesses in each of the 128 Local Government Areas of the South East)
  • Build 50,000 New Housing Units
  • Create 100,000 new jobs in the areas of Logistics; Food, Agro and Raw Materials processing; Construction and Real Estate Development. 
  • Develop a minimum of 5 major infrastructure projects in the areas of Power and Transport 
  • To help establish the South East as the commercial hub of West Africa as we approach the era of African Continental Free Trade Area (AfCFTA)

Challenges:

In contemplating this project we were faced with the challenge of how an Investment Platform can answer these fundamental questions:

  • Are there enough viable opportunities in SE that are suitable for Private capital input?
  • Is there sufficient trust available to facillitate the smooth exchange of money and time for the collective interest in the South East?
  • Where will the actual money come from to achieve our stated goals?

We thought about these and here are the answers we found:

Defining ‘viable opportunities’ is always going to be subjective depending on different roles and  perspectives in the investment cycle. However with a peer-to-peer platform we will be able to bring the Entrepreneur; the idea; the investors; and the market together in one place so the the viability of each opportunity can be established on the platform before any actual investment is made.

Trust is a function of security and transparency, with robust control of data both can be guaranteed. This has been proven with the various platforms we all use in daily life today. Technology can and does provide security and transparency and therefore can generate the necessary trust to enable transactions.

In 2017 a Price Water House Cooper (PWC) study revealed that remittances from Nigerians in Diaspora actually exceeded the total annual Federal Government Budget for the same year. This means that diaspora remittances is an existing source for the money required. Our stated goals will be achieved if these remittances are channeled through a structure that can ensure  greater efficiency and results.

This structure is the SE2030 Platform.

The SE2030 Platform

SE2030 is a community platform that brings together local and international investors, Entrepreneurs and industry experts from all over the world who have a connection or interest in the South East to channel money and expertise into projects in the South East.

The technology behind the platform leverages on robust data security and a Peer-to-Peer mechanism to guarantee transparency and security and in the process build trust in transactions on the platform.

SE2030 is an Internet Application accessed via a website, plus an accompanying Mobile App version. Both the Web and Mobile App are currently being developed on an existing technology platform.

How Does This Work:

  • Business Opportunities are listed on the Platform:
  • Entrepreneurs can post projects seeking funding.
  • Projects are reviewed and scored by Members of the Platform, including Consultants and peers of the project promoter. Only projects that meet or pass the threshold can receive investments.
  • Public Sector Agencies can post opportunities for the Private Sector
  • Community groups can create a project for their community and raise funds for it Internationally through the platform
  • Communities can connect with their members in the diaspora and collaborate on projects.
  • Ideas and New Projects can be developed and implemented through the platform.
  • Consultants and Industry Experts can propose ideas, discuss the plans and also find the necessary partners on the platform to execute the ideas.
  • Existing projects can get access to Industry Experts and other partners on how to improve their projects.
  • Businesses can get input from Consultants and suppliers through the platform
  • Investors, particularly diaspora based can find projects that match their investment criteria. 
  • When a new business opportunity is posted the notification will be sent directly to all Investors matching the relevant criteria.
  • Most importantly, there are secure deal rooms where Investors, Entrepreneurs and project promoters can privately engage and discuss details of business opportunities.
  • The transparent input by Investors, Consultants, and Local Stakeholders help ensure that that the viability of any project is established.

Typical Use Cases:

1. Start Up Business

A local  Entrepreneur from Ideato LGA in Imo State wishes to start a Modern Poultry Farm in Ideato. She is looking for funding and also for technical/financial partners.

She posts her project on the platform giving all the necessary details including:

  • Full description of the project with images. 
  • Amount of funding required
  • Security, Equity or other incentives offered in exchange for funding.

As soon as the project is published on the Platform a notification will be sent initially to two categories of Members on the Platform:

(1) Members, locally based or in the diaspora who have an interest in projects from Ideato LGA, example: Ideato indigenes who  live in the diaspora. 

(2) Members who ar listed as Consultants on the site. These would have expertise or experience with Poultry related industry, and with legal due diligence.

The Project is reviewed and scored by these Members. If it passes the given threshold, then the Project is listed on the Business Opportunities page of the Platform and is open for transactions.

Interested Members/Investors can then connect with the Promoter and begin to discuss details of the project and how they can help the Promoter to fund and establish the business. Negotiations are direct with the promoter of the business.

In this use-case the App helps local Entrepreneurs attract the interest of potential funders, partners and suppliers. It also helps Investors, particularly those in the diaspora, to become aware of and educated about local business opportunities in the cities, towns and local government areas of the South East.

2. Fund Raising and Marketing for Start ups or existing businesses. 

Local projects can use the in-built Crowd Funding Tools to raise funding for their business idea from Members all over the World.

Business projects can also market their product or service through direct sales and receive investment or subscriptions from around the World.

For example, the Platform can help an Abakaliki man based in Uruguay be informed about opportunities in his home state. As soon as a new Real Estate Investment opportunity from Ebonyi State is listed he will receive a notification on his phone, and he can monitor the status of the business through the Mobile App. If he is interested  he may discuss with others who have also invested, some of these would be people he already knows and trusts. He may then proceed to invest in the opportunity himself by purchasing a share in the opportunity.

The Promoter of the Ebonyi Project is able to easily reach a wide range of potential investors by simply posting his opportunity through through the App.

3. Community Action. 

The SE2030 Platform has a purpose built project collaboration tool which gives it an advantage over using platforms such as Facebook, or WhatsApp to reach and engage with members of the same interest group or community for purposes of developing projects.

The collaboration tools give project promoters the ability to provide a lot more detail about projects and allows investors focus purely on the project and to interact with the promoter and other Investors within the same project window.

This makes it possible for communities to propose projects; communicate with their Members in the Diaspora; get input from consultants and suppliers; raise funds; execute and monitor the project to completion.

All in a very transparent manner.

For Example: Community leaders in Arochukwu have seen the need to build a Motel of a fairly high standard in the Community. They have the land and the idea. They bring these to the SE2030 Platform and through the Platform can connect with Consultants who have the required skill and experience for packaging such a project. The Project is now listed on the platform and notifications will be sent to all Members with a connection to Arochukwu anywhere in the world. Details of the project is available in the project window and through the platform Members can then invest in the project making it possible to fund an launch a project without Institutional finance.

4. Project Replication: 

Projects that have been successful in one community can be easily replicated in other communities because the format and resources used in executing in one community can be easily duplicated for use in another community.

For Example:  

Using the example of the Arochukwu Motels above, the data from that successful project can be made available to help the Umu Nsukka community in Atlanta USA to launch a similar project to be sited in Nsukka, Enugu Imo State. The template of an already successful project encourages greater participation by Members of that community in the diaspora who provide funding.

By this process community-funded Motels of a high standard can be very rapidly established in several communities using the platform.

 

Features of the Platform:

User Profiles:

There are different categories of Members who will have their profiles shown on the platform.

Project Profiles:

Projects can be listed, promoted and updated on the platform.

Newstream and Resources:

Sharing of news, articles, videos, etc.

Events:

Online and Offline Events can be created including booking and ticketing for the event.

Project Reviews and Voting:

Projects will be reviewed and rated by Members of the platform.

Crowdfunding:

Different Types of Crowdfunding are possible on the platform:

Secure Data Rooms:

Private secure access sections of the Platform where only approved or authorized Members can review confidential data on Projects. Good for sharing business plans, financial statements etc.

In-Site Coins:

A very important feature of the Platform are the SE2030 Coins.

The Coin is a points system used as a reward and incentive mechanism to facilitate genuine transactions on the platform.

Member participation on the site is powered by Coins.

Coins are acquired by carrying out various activities on the Platform. For example, members can earn coins by participating in Projects either as Investors, Entrepreneurs or Consultants. Coins can also be bought and exchanged.

Coins are required to either view or post information.

For Example:

10 Coins will give full access for up to 5 projects on the platform.

Members earn 1 additional Coin for each project they have actively participated in

Members need to have at least 5 Coins before they can post a project on the Platform

Consultants earn 1 Coin for each project they have reviewed or Mentored

Active Members of the site would have more Coins and thus more access to features than less active Members.

Online Payments:

Integration with local and International Payment Gateways to allow for funds transfer.


Platform Demo:

Desktop: Here is a brief demo of the Desktop platform at its current stage of development. Some of the features are not fully developed.

Mobile: Here is a brief demo of the Mobile App at its current stage of development. Some of the features are not fully developed:

Funding Required For The Platform

The money we are raising from you on this campaign is primarily for completion of the technical development of the platform and for pre-launch marketing activities.

Amount Required is: £50,000.00

Beyond this, any additional funds raised will be used for Post-Launch Marketing activities including road shows.

We have chosen to use the Crowdfunding model not just to raise money but because we also need as many of you as possible actively involved in this project.

By making a pledge to donate to this project and sharing this campaign with your own networks you are making your own great contribution towards the development of the South East.

Those who make Pledges now to donate to this project will belong to the group we will always call Ndi Odozi Obodo (Those ready to take action to make things better for their communities in the South East) We have divided them into separate categories according to the amount of the Pledge:

  • £20 = Nwa Afo
  • up to £100 = Nze
  • up to £500 = Ogbuefi
  • up to £1000 = Ozo Igbo Ndu

We will also issue SE2030 Coins in return for every Pledge made. The Coins can then be used to access the various tools and services on the Platform when launched.

All Pledges will only be taken out of your account when we hit the target amount of £50,000. If we do not hit this amount no money will be taken and the campaign cancelled. 

Join us as one of the Ndi Odozi Obodo. Act NOW and let us transform the South East.

Please click on the Donate button on the right.


Project Timelines

  • Platform will be fully operational after a Public Launch 6 Weeks from close of Crowdfunding Campaign

The Project Team:

Sam Igwe: 

Sam is Co-Founder/Initiator of SE-2030 ProjectPresently he is CEO of GSL Tech UK a Digital Services Advisory based in London. He is a specialist in the installation and promotion of Enterprise Social Networking Platforms in Nigeria and UK

Denise Hayman-Loa

Denise is a Consulting Partner for the Project. She is formerly a Partner at Ernst and Young, Executive Director of Goldman Sachs, and Morgan Stanley Investment Bank and Currently CEO of Carii Inc a Hybrid Technology Company in New Jersey, USA. Denise was recently named amongst the top 50 Tech Leaders in the world.

Uche Anyanwu

Uche is an Executive Director and Co-Founder of SE 2030. He is a prominent Corporate Lawyer based in Abuja Nigeria


Lawrence Odoemenam

Lawrence is a Co-Founder of SE-2030 Project. He is an expert in Strategic Communication, Investment promotions, and Entrepreneurial Development. Currently President/CEO Seven Stones Communication Inc. Houston Texas and Senior Special Assistant to the Abia State Governor on Investment Promotions and Executive Director of Abia State Public-Private Partnership {PPP} Agency

Felix Achibiri

Felix is a Co-Founder of the SE2030 Project. He is also Founder and Executive Chairman of DFC Holdings Limited a Finance and Energy conglomerate in Abuja. He is an astute entrepreneur and businessman with board experience spanning leading companies in several sectors of the Nigerian economy.

Rewards

This project offers rewards in return for your donation.

£100 or more

Nze (Executive Backer) 100 SE2030 Coins

100 SE Coins once signed in on the platform. SE Coins give access to a range of features on the SE2030 App and are highly desirable for Members who want to get access to the best information and tools on the Platform.

£20 or more

Nwa Afo (Super Fan) 10 SE2030 Coins Reward

10 SE Coins once signed in on the platform. SE Coins give access to a range of features on the SE2030 App and are highly desirable for Members who want to get access to the best information and tools on the Platform.

£500 or more

Ogbuefi (Strategic Partner) 1000 SE2030 Coins

1000 SE Coins once signed in on the platform. SE Coins give access to a range of features on the SE2030 App and are highly desirable for Members who want to get access to the best information and tools on the Platform.

£1,000 or more

0 of 20 claimed

Ozo Igbo Ndu 5000 SE2030 Coins

5000 SE Coins once signed in on the platform. SE Coins give access to a range of features on the SE2030 App and are highly desirable for Members who want to get access to the best information and tools on the Platform.

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