News

» Top 20 Funds to Watch in 2016
17/02/2016
Fundraising for African private equity is set for a busy year in 2016, as a good number of managers, aim for initial pushes, final and interim closures...

» Verod’s Fund II Exceeds Target Size
16/02/2016
Verod Capital is pleased to announce the final close of Verod Capital Growth Fund II (“Verod Fund II”) at $115 million, exceeding its original target of $100 million...

» After oil
20/06/2015
The oil shock has left a deep hole in the government’s finances, but the economy is beginning to diversify

» Spinlet, Distributing Music Digitally
04/01/2015

» AVCA Member Profile: Verod Capital
28/11/2014

» Verod buys into Niyya
03/11/2014
Verod Capital has bought a stake in Nigeria-based consumer food production company Niyya Food and Drinks, for an undisclosed amount...

» Africonomie chats with Danladi Verheijen at the 3rd African Pensions and Sovereign Funds Event
12/10/2014

» SacOil Embarking into Oil Production
03/10/2014

» FirstEnergy Capital releases Company Update on SacOil Holdings
30/09/2014

» Ways for African Americans to profit in Africa featuring Danladi Verheijen, Olusegun Aganga, Valerie Jarrett and Rosa Whitaker
11/08/2014

» U.S.-Africa Summit: How African-American Entrepreneurs Can Engage featuring Valerie Jarrett, Danladi Verheijen and other African leaders in politics and business
08/08/2014

» Verod Foundation strengthens learning platforms for students
31/07/2014

» Verod Capital Honours Adesina, Plans 10,000 Tons Capacity Fish Farm
14/05/2014

» Verod CEO, Danladi Verheijen features on Africa's rising stars
08/05/2014

» GZ Industries Nears Completion Of Can Manufacturing Plant In Kenya
08/05/2014

» Spinlet signs Remi Olabamiji and Bola Are
20/04/2014

» GZ Industries Plans a $100 Million Can Plant in Kenya
25/03/2014

» Danladi Verheijen was named a Young Global Leader by the World Economic Forum in 2014
13/03/2014

» SacOil to begin 3D Seismic Ocean Bottom Cable (OBC) survey offshore Nigeria by April
13/03/2014

» Danladi Verheijen, CEO of Verod Capital named as one of the 2014 Young Global Leaders by World Economic Forum
11/03/2014

» FUMAN signs digital deal with Spinlet
11/03/2014

» Spinlet streaming high quality content via Edge and 3G
04/02/2014

» GZ Industries Set to Expand Operations across Africa
13/01/2014

» 2Face Teaches Dr Victor Olaiya how to use the Spinlet app
13/01/2014

» Students of Kuramo Junior College thank Verod Foundation
17/12/2013

» Verod foundation boosts literacy in public school
17/12/2013

» Digital distribution benefits ALL in the music ecosystem
06/12/2013

» GZ Industries speaks positively about the growth of the beverage can industry in Nigeria
05/12/2013

» Music Service Spinlet Receives a US Patent
19/11/2013

» Spinlet has turned the needs of African music lovers into a business
18/11/2013

» Spinlet set to curb piracy digitally
10/11/2013

» What Americans fear about Nigeria’s music industry by Spinlet CMO
03/11/2013

» Spinlet to launch its music platform in SA
30/10/2013

» Spinlet to launch platform in SA
29/10/2013

» SPINLET ‘fires’ up Its DIGITAL Music Platform with launch of Its New DOWNLOAD Site
28/10/2013

» Spinlet Presents Digital Radio Show with Beat FM
15/10/2013

» Spinlet outlines its revenue model for Nigeria
07/10/2013

» Spinlet spins future for Nigerian music
07/10/2013

» Spinlet is in Nigeria to create an ecosystem – COO
07/10/2013

» Spinlet to begin payment of revenue to artistes
07/10/2013

» CcHub hosts Eric Idiahi, CEO Spinlet & Verod Capital at DevParapo event
07/10/2013

» Stanchart PE & Ashmore back Verod’s GZI
07/10/2013

» Spinlet says the biggest challenge is getting Nigerians to pay for songs
07/10/2013

» Premier Records partners with Spinlet on digital music distribution
07/10/2013

» Spinlet, the iTunes of Africa, hits 650K subscribers — and is targeting 50M users by 2016
20/09/2013

» Spinlet appoints new CEO, Neil Schwartzman
20/09/2013

» Spinlet is restoring hope with digital music distribution
20/09/2013

» Neil Schwartzman appointed new CEO of Spinlet
20/09/2013

» Spinlet: Giving The Nigerian MUSIC One Voice
20/09/2013

» Spinlet aids artistes with mobile digital distribution
20/09/2013

» Spinlet drives Nigerian digital content distribution
20/09/2013

» Meet The Mobile Apps Streaming Music To Africa
20/09/2013

» Nigerian Investment Firm Seeks US Partners for West Africa Development
01/08/2013

» GZ Industries deal gain Private Equity award for Verod
18/07/2013

» Verod Foundation drives productive education through spelling competition
09/07/2013

» Investing in West Africa
09/03/2012
Interview of Verod Capital Director, Danladi Verheijen by Tracy Byrnes, Fox Business News.

» Eko Rail Seeks Additional Investments
11/10/2011
The consortium behind a major African rolling stock concession project is expected to tap the markets next year for debt and equity...

» Spinlet, Africa’s premier digital distribution company sponsors the 13th annual Felabration
11/10/2011
A Cultural Celebration of Fela Anikulapo Kuti Oct 10-16th in Lagos, Nigeria...

» Eko Rail Announces Shipment of First Cars to Lagos
13/09/2011
First of Toronto’s Former Fleet Set for Refurbishment, Delivery

LAGOS, Nigeria, Sept...

» Interview of Spinlet COO, Sami Leino
04/08/2011
Interview of Spinlet COO, Sami Leino on the launch of an “iTunes” for Africa- August, 2011...

» GZI Production Capacity up by 50% in 9 months
01/06/2011
GZ Industries Limited (GZI), the first aluminum beverage can manufacturing plant in West Africa, opened August 2010, has increased its installed production capacity from 600 million cans per annum to 900 million cans per annum...

» SPINLET Gets Funding Boost from Verod Capital
31/05/2011
Social Mobile Music App Maker Receives Key Investment from Nigerian Firm Ahead of New Product Launch

LONDON, May 31, 2011 /PRNewswire-USNewswire/ — SPINLET, the makers of innovative, cloud-based music streaming and storage applications, announced today that it has received a significant investment from Verod Capital Management Limited (“Verod Capital”), an emerging markets investment firm based in Nigeria, with interests across several sectors.

Verod Capital’s undisclosed investment in the emerging digital music app maker comes at a critical time to support the launch of the Finland-based company’s new enhanced service, which will predominantly service the fast growing mobile markets ofAfrica, Asia, Eastern Europe and the Commonwealth of Independent States.

“There is a strong demand for music download services in emerging markets but consumers have limited access to portals from where they can legally download original music tracks from local and international artists,” said Eric Idiahi, Executive Director, Verod Capital. “SPINLET is ideally placed to source the content and deliver it to millions of underserved consumers worldwide across the mobile and web channels.”

SPINLET’s current application enables consumers to remotely store, manage and listen to music from anywhere using any mobile device. Using the SPINLET Music Cloud portal, users can also create playlists, stream and seamlessly synch music tracks across devices as well as share their favorite titles using social networking sites, like Facebook.

The enhanced version of SPINLET – to be launched in July 2011 – will combine the best of elements of the Music Cloud’s existing service with mobile downloading capabilities available on the latest generation of smartphone platforms. SPINLET’s new application will be available for major mobile operating systems including Android, Blackberry, Symbian 60, Windows Phone 7 and popular Java-enabled mobile phones.

Founded in 2006 by Sami Leino and Ville Leino in Finland, SPINLET started out focusing on building a strong IP portfolio and launched their first cloud-based music service in 2010. Going forward, SPINLET will leverage social media integration, consumer recommendations and viral product features to drive sales in emerging markets.

“SPINLET might be the first acquisition of a leading European mobile technology start-up by a Nigeria-based investment firm,” said Verod Capital CEO, Danladi Verheijen. “We are extremely excited about the potential to leverage SPINLET’s technology across large African markets, as well as support the company’s growth in other parts of the world.”

The company is seeking distribution and affiliate partnerships with local mobile service operators and original equipment manufacturers to expand availability. SPINLET is also working with leading music labels in Africa, Europe and Asia to further develop its portfolio of localized music catalogues.

» Fashola Steps Up Action On Lagos Light Rail Project
12/05/2011
Office of the Governor of Lagos State- May 2011

May 12, 2011 – Fashola Steps Up Action On Lagos Light Rail Project: Inspects Trains To Be Used By Operators In Canada...

» Nigerian President Commissions Aluminium Drinks Can Plant
25/08/2010
IBADAN, Nigeria (Dow Jones)–Nigerian President Goodluck Jonathan Thursday commissioned West Africa’s first aluminum drinks can manufacturing plant in Agbara, near Lagos, the Nigerian commercial capital, an official at the company that established the facility said Friday.

GZ Industries Ltd. said in a press statement that when fully operational, it will be capable of producing 600 million can a year, with that capacity doubling after the first year to meet 100% of demand from Nigeria and other West African countries.

GZI said the new facility will “put an to the plight of Nigeria’s brewers and bottlers, who had to import empty cans from Europe and South Africa.”

The facility is owned by a group of foreign investors and Verod Capital Management, a Nigerian investment and financial advisory firm, GZI said.
The company has also entered into a technical partnership with Rexam PLC (REXMY), the world’s leading aluminum can manufacturer, it said.

Fidelity Bank PLC, a Nigerian commercial bank, is a major financier of the facility, the GZI official said.
A Fidelity Bank media spokesman told Dow Jones Newswires Friday that the bank invested around $65.5 million in the new plant. The bank said the plant “brings a load of values to the nation’s economy, putting over 150 people in direct employment while an estimated 2,000 people will benefit from its operations as suppliers, vendors and small businesses to the firm’s diverse interests.”

A senior GZI official declined to reveal the exact cost of the new plant.

-By Obafemi Oredein, contributing to Dow Jones Newswires; 234 2 7510489
(END) Dow Jones Newswires

» Success of GZ Industries in Tough Manufacturing Environment
25/08/2010
Interview of GZI Director, Danladi Verheijen by Wole Famurewa, Beyond Markets.