CNBC Africa's Gugulethu Cele talks to Sean Ashton and Liam Hechter from Anchor Capital about Clicks, a leading South African pharmacy, health and beauty retailer with 500 stores and 390 in-store dispensaries.
Discover How To Consistently Tap Into Business Opportunities, Generate Business Ideas, Create Multiple Streams Of Income
How Dangote Petrochemical Refinery will drive Nigeria’s economic diversification
At a recent press briefing the President of Dangote Group, Alhaji Aliko Dangote engaged the media on critical issues around the Dangote Petrochemical Project, located in the Lekki Free Trade Zone, Lagos.
He speaks on the essence of free trade zones, economic strategy of the petrochemical refinery for Nigeria, forex issues and how it keys into the economic diversification plan of the federal government of Nigeria.
He speaks on the essence of free trade zones, economic strategy of the petrochemical refinery for Nigeria, forex issues and how it keys into the economic diversification plan of the federal government of Nigeria.
WHY FACEBOOK FOUNDER, ZUCKERBERG ARRIVED NIGERIA UNANNOUNCED
Facebook Founder, Mark Zuckerberg, yesterday, arrived
Nigeria unannounced. The 32-year-old tech enterpreneur surprisingly made a
sudden visit and inspection of activities at the Co-Creation Hub, Yaba Lagos.
His arrival to Nigeria is not unconnected to the ‘Facebook for developers’ workshop’ for Nigerian engineers, product managers and partners holding today in Lagos. The event is expected to help the engineers build better applications and monetise them more effectively. Before his arrival, it was earlier announced that the company’s Director of Global product Partnerships, Nigeria’s Ime Archibong was to lead speakers to the event where Facebook would unveil a ten-year roadmap that can help improve Nigeria’s economy Facebook is an online social networking service based in Menlo Park, California, United States, which Zuckerberg and his fellow Harvard College students and roommates, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes formed on February 4, 2004. After its initial public offering, IPO in February 2012, Facebook began selling stock to the public three months later, reaching an original peak market capitalization of $104 billion.
His arrival to Nigeria is not unconnected to the ‘Facebook for developers’ workshop’ for Nigerian engineers, product managers and partners holding today in Lagos. The event is expected to help the engineers build better applications and monetise them more effectively. Before his arrival, it was earlier announced that the company’s Director of Global product Partnerships, Nigeria’s Ime Archibong was to lead speakers to the event where Facebook would unveil a ten-year roadmap that can help improve Nigeria’s economy Facebook is an online social networking service based in Menlo Park, California, United States, which Zuckerberg and his fellow Harvard College students and roommates, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes formed on February 4, 2004. After its initial public offering, IPO in February 2012, Facebook began selling stock to the public three months later, reaching an original peak market capitalization of $104 billion.
On July 13, 2015, it became the fastest
company in the Standard & Poor’s 500 Index to reach a market cap of $250
billion. As of March this year, Facebook had hit over 1.65 billion monthly
active users out of which 7.1 million people are daily users from Nigeria. This
makes the country Africa’s biggest user of the social media platform. However,
Vanguard gathered that it was for security reasons that Zuckerberg’s plan to
visit Nigeria and his eventual arrival was kept top secret. A close source who
spoke to Vanguard said: “It was a top secret and nobody was meant to know
before his arrival. It was actually for security reasons but now that he is
here, he would be able to interact with tech professionals and other Nigerians
today in a press conference at Eko Hotel and Suites tomorrow (today).” Being
his first trip to Africa, Zuckerberg on arrival met with developers and
partners, and also explored Nollywood. One of his first stops on the trip was
to visit a ‘Summer of Code Camp’ at the Co-Creation Hub (CcHub) in Yaba, known
as the Silicon Valley of Nigeria where young developers learn how to code and
develop their solutions while looking for mentors and angel investors.
At
CcHub, Zuckerberg met with developers like Temi Giwa, who runs a platform
called Life Bank that makes blood available when and where it is needed in
Nigeria. Life Bank saves lives by mobilizing blood donations, taking inventory
of all blood available in the country, and delivering blood in the right
condition to where it is needed. Thrilled by level of technology development at
the CcHub, Mark Zuckerberg, said, “This is my first trip to sub-Saharan Africa.
I’ll be meeting with developers and entrepreneurs, and learning about the
startup ecosystem in Nigeria. The energy here is amazing and I’m excited to
learn as much as I can. “The first place I got to visit was the Co-creation Hub
Nigeria (CcHUB) in Yaba. I got to talk to kids at a summer coding camp and
entrepreneurs who come to CcHub to build and launch their apps. I’m looking
forward to meeting more people in Nigeria.”
SOURCE: VANGUARD
Doing Business in Africa - Kenya - Agriculture and Infrastructure Development
Kenyas oldest colonial legacy is its tea and coffee industries, two commodities which to a large extent have escaped the global economic meltdown. A drought as well as continued demand are the reasons companies in this sector are seeing profits soar.
Growing Business for Senegalese Farmers
More than 100 rural farming and commercial agriculture businesses will benefit from a new World Bank-supported project that will help to transform agriculture, boost sustainable land management, and engage and employ local communities in agribusiness enterprises.
ANGST AS NIGERIANS FEEL PAINS OF INCREASING HARD TIMES
Monday, August 29, 2016
These are not the best
of times in Nigeria. Long before July 21, 2016, when the Minister of Finance,
Mrs. Kemi Adeosun, officially confirmed that the country was 'technically in
recession,' it had been an arduous battle for survival for citizens, organizations
and governments at all tiers.
The first half of the
year was rough.
In spite of
government's assurances, Nigerians weathered the storm, bracing the challenge
of petroleum scarcity, epileptic power supply amid increase in electricity
tariff, removal of subsidy on petrol, hike in cost of food, goods and services,
unprecedented scarcity of tomatoes, skyrocketing exchange rate of the naira to
a dollar, backlog of unpaid salaries and mass retrenchment of workers.
Government kept
repeating that the tide would turn once the 2016 budget was passed and the
second half of the year would be better for the country and its citizens.
President Muhammadu
Buhari eventually signed the budget on May 6, raising the hopes of turnaround
with the injection of government funds across critical sectors of the economy.
With four months left
in the year, it's a stark reality of a depressed economy staring Nigerians in
the face as strange things are reported daily.
Organized and petty
crimes have been on the increase, unsecured pots of soup have become endangered
species, sale of human blood and organs for economic reasons is rife, and
frustrations have given rise to rampant cases of domestic violence, child abuse
and suicide.
The hunger is so
widespread that poultry farmers confess to skipping meals for their birds as
the cost of feed has risen by 100 per cent.
Even in the president's
home state of Katsina recently, there was a massive scramble for unwholesome
grain when the truck conveying bags of the suspected poisonous grains for
destruction broke down in a village.
When persuasion failed,
authorities had to engage the help of task force to retrieve some of the
poisoned grains in a bid to avoid devastating consequences.
The new economic
reality is affecting the lifestyle of Nigerians.
Today, an exchange of
pleasantries is incomplete without the word 'Change' in reference to the
evocative slogan that brought the present administration of the All
Progressives Congress (APC) to power.
The standard reply to
any untoward situation in the country is 'Chanji', the street version of APC's
motto - change.
A public affairs
commentator based in Kano State, Aminu Muhammad Ofs, last week recounted his
experience of the times, which has gone viral on social media.
He said: "I was
sitting with a guy who sells tea when an elderly man came and said 'Give me
'Buhari's mixture'. Without saying anything more, the man was given some tea
and small bread for a sum of N40.
I was baffled, so I
asked the seller what the man meant by 'Buhari's mixture'. He explained that it
means tea without milk plus a small loaf of bread.
"Again the next
day, I stopped by a small kiosk to get a battery for my wireless computer
mouse. While I was leaving, a guy came who said: 'Give me Buhari and Osinbajo.
I waited to see what he meant and the seller handed him garri and groundnut.
"I inquired from
the seller, who explained that garri is the street term for President Buhari,
Vice President Yemi Osinbajo is groundnut, while Senate President Bukola Saraki
is sugar, slang for the staple foods the poor can afford."
Before now, Lagos State
was often referred to the city that never sleeps, because it is known for its
hustle and bustle from dawn to dusk.
The wind of recession
has blown all that away.
The bustling nightlife
is disappearing in the Centre of Excellence, as the city practically shuts down
and becomes a ghost town once it is 10p.m., even on weekends.
Due to the harsh
economic conditions in the country, Nigerians have developed some clever
methods of dealing with the tough circumstances.
According to a public
opinion survey by NOIPolls, released on August 10, 2016, 97 per cent of the
respondents said the recent economic realities have had a negative effect on
the wellbeing of the average Nigerian.
Some survival methods
discovered by the polls include cutting down on household expenses and luxury
items, resorting to prayers and hoping for a miracle, engaging in subsistence
farming, adjusting feeding patterns in place of the regular three-square meals.
A businessman, Emeka
Obinna told The Guardian that he has had to adjust the feeding patterns of his
family.
"I have a family
of six, with several other dependents. That's the only way we are managing to
survive. No more three-square meals. It is either breakfast and dinner, or
lunch and dinner. So, it is the 1-0-1, 1-1-0 or 0-1-1 formula I am operating
now with the little resources at my disposal," he said.
SOURCE: THE GUARDIAN
Nigeria admits the country is in technical recession
Nigeria's Minister of Budget and National Planning, Udoma Udo Udoma, has expressed hope that the country's economy would pick up in the third quarter of 2016. He told a news conference after a meeting of the National Economic Council. His comments come after Kemi Adeosun, the minister of finance, told Nigeria's senators that the country is technically in a recession.
Economy in deep trouble -Soludo
Friday, August 26, 2016
Former governor of
Central Bank of Nigeria (CBN), Prof. Charles Chukwumah Soludo yesterday said
the economy is in deep trouble considering the reduction in per capita income
and dwindling Gross Domestic Product (GDP). He said the economy had compressed
by 50% in the past year.
With inflation
already at 16.48 per cent and still rising, most Nigerians are finding it
increasing hard to meet their basic needs, as the economy entered into full
blown recession following two quarters of consistent negative growth.
His comment on the
economy came barely 24hours after another ex-CBN governor and Emir of Kano,
Alhaji Sanusi Lamido Sanusi, expressed regrets on the policies of government.
But speaking in
Kaduna yesterday in his lecture at the fourth progressive governance lecture
series of the Progressives Governors' Forum in Kaduna, Soludo said the collapse
in the oil prices was a blessing for the country to start a new beginning.
His lecture was
titled: "Building the economy of states: Challenges of Developing Inclusively
Sustainable Growth". It was organized by the ruling All Progressives
Congress (APC) governors.
Soludo stated for
instance that the GDP has been compressed to 50 per cent from $578 billion
after the rebasing programme of 2014 to $290 billion due to huge deterioration
in key economic indications, while per capita income has also dropped from
$3,100 to $1,500. He noted that this has to be urgently addressed by economists
if the country is to survive the harsh realities and continue as a going concern.
The former CBN
boss who further observed that the collapse of oil is a privilege for a new
beginning for Nigeria, stated that the current recession was structurally and
politically induced and that the APC-led government must stop the blame game
and start on a clean slate.
Soludo, a foremost
economist, noted that agriculture, which is currently receiving massive
attention from the Federal and state governments, may not afterall, serve as a
means of economic diversification because many people will be forced out of the
business when mechanised farming is fully implemented. "Nigerian economy
has been massively compressed by 50 per cent. GDP is being compressed to 50 per
cent from $578 billion to $290 billion while per capita income has also dropped
from $3,100 to $1,500. "The transition to a Nigerian economy without oil
cannot be sustainable by merely pumping money into the system. If the aggregate
demand is on one side, we have other things on the other side to consider in
order to be able to sustain our economy," he said. According to him, no
state can develop sustainably if the overall governance and economy are in
crisis, stressing that Nigerian economy in terms of the dollar has collapsed by
about 50 percent.
"Nigeria is
facing unprecedented and tremendous political and economical challenges with
global and local dynamics. Regardless of these challenges, opportunities and
possibilities abound if we address some fundamental issues. The key to
achieving this is to have a development plan that is anchored on realizing
inclusive and sustainable growth.
He therefore,
recommended the restructuring of the economy from consumption-driven to
production-based and consistency in micro-economic policies.
"Encouraging
fiscal federalism in ways that allow states to have greater control of their
resources, evolution of a master plan for mass export-oriented
industrialization that answers the economic questions and realities of
today," he said.
At the forum, Vice
President Yemi Osinbajo said Nigeria has what it takes to be a great nation,
but the desired positive change cannot be achieved except public servants take
responsibility for the transformation of the country.
This is even as
the Governor of Kaduna State, Mallam Nasir Ahmad El-Rufai said the worst job in
Nigeria today is to be a governor.
Osinbajo said:
"We have what it takes to make a big difference. Like I said in Kano some
few minutes ago, we have the capacity in this country to make a great nation. I
don't believe there is any country, especially on the African continent that
has resources, men and material that we have.
"But a lot
will depend on us, the public servants, whether we are elected or appointed, we
are the ones that can make a difference in this country. If we as public
servants, see ourselves as being responsible for transforming our society, we
see ourselves as being the hope country and continent need, then perhaps, the
change is really possible. But, without us taking responsibility, very little
can happen.
"The
challenges that many states in Nigeria face today are not self-inflicted, some
are historical, they are legacy challenges, but then, we are required to come
to the table with fresh ideas to solve the problems. Some of the problems are
not problems we can solve in few months or even years.
"We have the
next few years to transform this country and I hope we would be able to make
that change. Am sure the states here are the ones to make that change,"
Osinbajo said.
El-Rufai said
Nigeria is facing an unprecedented economic crisis most of which arose from the
circumstances of the present and past.
The governor, who
also said the worst job in Nigeria today is to be a governor, lamented,"
we are left to redeem inherited problems. We don't have a hand in them, but we
have a duty to solve them".
El-Rufai, however,
expressed hope that Soludo's lecture will throw more insights into problems
that will help the states to get out of the current fiscal crisis.
In attendance at
lecture were Governors of Ogun, Lagos, Kaduna, Bauchi, Plateau, Kebbi, Borno,
Adamawa, Osun, Zamfara and Imo states. While those of Kwara, Benue, Nasarawa,
Katsina and Oyo states were represented by their deputies.
Reacting,
President, Manufacturers Association of Nigeria (MAN), Mr. Frank Jacobs, said
Soludo's comments were very accurate. "At the moment, many companies are
shutting down every day while many are managing to remain in business. It is
that bad. Unless there is a drastic change in the policy of government, the
unemployment condition in the country will take a turn for the worse,'' he
said.
Also, Sam Willie
Ndata, the doyen of stockbrokers, said said it is not only him that has been
talking about it, but every other person has been saying the same thing. The
country has not been going the way it should go and the government had better
sit up and do the proper thing and get the experts to run the government
"If he knows
what to do, he should do it fast before everybody dies," Ndata said.
Also commenting, a
former deputy governor of the CBN and social commentator, Dr. Obadiah Mailafia,
said: " I wouldn't say that I am satisified with the present economy. We
need a stimulus package. I have mentioned stimulus package before. I agree with
the Emir of Kano as well as Professor Soludo because they have a point. We need
a greater and more vigorous leadership. The President has the opportunity to
come out with new ideas, the opportunity to be innovative. He should also build
a coalition of the transformation of the economy. Right now we are not
happy."
But apparently
responding to attacks on Buhari's economic policies, royal fathers yesterday
urged Nigerians who have ideas on how to revive the economy to communicate the
Presidency in writing.
Africa, Agriculture, Value Chain, Development
This short film is meant to show the positive change that the Fresh Fruit and Vegetable project has brought about in the agricultural sector in Lesotho, especially with the use of greenhouse farming.
NECESSARY STEPS FOR SETTING UP YOUR ONLINE STORE
Starting your own
online store can look like something huge and stressful to do, whereas, it
doesn’t take so much to start and run your own online store as it may seem.
With all the ideas and necessary steps you need to take in place, it might not
take you more than a little period of time to set up your own online store.
KEEP IT SIMPLE: it’s
best to choose a theme with a simple, conventional design and mobile functionality
to give your shoppers the best user experience. Fancy banners and animations
may seem like a good idea, but for many ecommerce stores, this ultimately distracts
from the main purpose which is selling your product. Keeping a simple, clean
design will place the focus where it belongs and be more visually appealing to
your customers.
PLACE CONTENT: the next
thing to do after setting up your design is to fill it with content. Your
return policies, terms and conditions are content that must be in place on an
ecommerce store. Be sure to include encouraging content that would help buyers
while purchasing a product.
ADD YOUR PRODUCTS: the
next step is to include your products. There is probably no store without
products, methods of payment and delivery options if necessary.
With these crucial
steps taken care of, you can start marketing and selling your products,
while still having the option to make additional upgrades and improvements to
your store when needed. By launching your ecommerce store, you’ll have already
cleared one of the biggest hurdles to your sales success.
Strengthening farm-agribusiness linkages in Africa
Talking African agriculture with Dr Marie Yomeni, Cassava Commodity Specialist, IITA at the 7th African Agriculture Science Week.
ODE TO 'CASHLESS'
Friday, August 26, 2016
The key question about
Patrick Dele Cole's sermon (Tuesday, August 23, page 18) vilifying the policy
to implement the 'cashless' monetary scheme in Nigeria is whether it was
intended as a joke, or whether the learned Ambassador is sincere when he poses
the fundamental premise of his thesis – that the initiative represents a
"clueless" line of thinking. As to whether the scheme would succeed
in what it was principally set up to achieve – the reduction of corruption in
Nigeria, he is obliged to concede "probably".
"Cashless"
was introduced by the Obasanjo civilian administration, arguably the most
progressive in post-independence Nigeria, and spectacular in its telling
decisive war against corruption. In recalling that Obasanjo was supported by
the most educated team of political functionaries in the affairs of state, it
is not easy to draw an inference that his administration should be written off
as "clueless" in its decision to create an appropriate palliative to
address fraud and corruption.
Ambassador Cole bases
his overall opposition to the supposed prohibitive costs of applying scarce
foreign reserves, with a near-comatose Naira, to import the technology and
foreign expertise that would be required to make the scheme work. He also
quotes the well-worn excuse that "cashless" is a Western
"marketing tool to keep us poor", having failed to observe that the
system is at an advanced stage of development in most of the ready-made societies
– in the Orient (most notably in Hong Kong, Korea, Singapore, and Taiwan) and
in Denmark – where it is in full operation. It is not because these countries
are "clueless" that they adopted the scheme.
That Nigeria has
developed essentially as a consumer nation since independence has nothing to do
with her current economic quagmire. Our economy has enjoyed moments of buoyancy
even in our 'excessive' consumption. It is all about corruption, of a flagrancy
that has been a by-word in the world public gaze for the past half century,
elevating the country to the No.1 position in that realm of human weakness. At
the height of the President Jonathan administration, the erstwhile British
Prime Minister David Cameron summoned a meeting of the G7 group and addressed
the central theme 'NIGERIA'. He revealed that $100 billion had been realised
from oil proceeds in the past two years, and asked, "Where is the money?
Where is the improvement?"
This was just a tip of
the iceberg of the scale of plunder, as witnessed by President Buhari himself
when, in the course of his war to recover these stolen funds, he was moved
almost to tears on being presented with the obscene figures of looted funds
over the last decade. The visiting US Secretary of State, John Kerry, reported
that the cancer of corruption is costing the world $2.6 trillion per annum. If
just 10% of this sum is attributable to past Nigerian corruption, the costs of
entrenching "cashless" should not be written off if seen in the light
of a long-term investment which, set against the country's overwhelming
potential, would be overcome with net profit through the drive and sound
policies of a strong, disciplined leadership. Nigeria may be in recession, but
still remains credit-worthy, and would enjoy foreign support (most notably from
China) of any scheme that would pursue a policy of nation-building.
That
"cashless" even saw the light of day was because President Obasanjo
was a powerful leader. The high-level conspiracy that has since stalled its
progress to barely a snail's pace has succeeded because President Jonathan was
weak. President Buhari's military orientation, firing decisive qualities of
leadership, could now 'frog-march' the system into forward motion - even though
the scheme has basically remained in place. Cash withdrawals from the bank have
remained limited to N150,000 daily. Many customers in most of the shops and
supermarkets nationwide pay for their purchases with credit cards - in tacit
salutation to "cashless".
It is a striking fact
that with the removal of cash from the system in surrender to card technology
and the electronic banking system, fraud and corruption - crime as a whole, in
fact – would be reduced by some 90%. This would carve a smooth new path to
relative peace in the land, freedom of movement, mutual co-operation, with
human endeavour pursued with a sense of security in a generally conducive
atmosphere.
Ambassador Cole's
protestations that "cashless" would only "begin to make
sense" with massive investment by the West and Nigeria in education
"for the next 15 years", suggesting indirectly that only good
education holds the key to the eradication of corruption, are answered with
reference to the fact that almost all the big names now caught in the recovery
net do not have the excuse of a poor education - having schooled in some of the
West's most reputable establishments.
It would be a pointer
to crass naivety to suppose that a practice that has gone through to the blood,
bone and marrow of the Nigerian 'spirit' could be 'exorcised' by mere moral
education on the evil of corruption. Nor should it be supposed that a sustained
period of recovery, punishment and mop-up of excess cash to enforce pecuniary
management would see any lasting improvement after the re-creation of a buoyant
economy. Jealousy makes a man foolish, and a woman more subtle!
The finishing touch in
the recovery of stolen funds would be to find a way to permanently close the
door against the opportunity to perpetrate fraud and corruption.
"Cashless" holds that answer.
SOURCE: THE GUARDIAN
Tourism Investment Opportunities In Nigeria
The presentation of the Director-General of the Nigerian Tourism Development Corporation (NTDC), Mrs Sally Mbanefo, on the Tourism Investment Opportunities In Nigeria at the Mexico Seminar On Business Opportunities In Nigeria.
IMPROVING COMMUNICATION AT WORK
Communication is tough
between people, yet it’s crucial if there’s going to be a team work. It is easy
to know that lack of proper communication can reduce the quality of output of
any business or company. As a small start up, communication is quite easy and
limited to few people, but as a company grows, keeping in touch with everyone
becomes a major challenge. Here are some tips for improving communication.
DOCUMENTATION: As a
team member, have it at the back of your mind that people’s attention span is
short, don’t expect anyone to have a proper record of everything you say.
Documentation is key in work places. This will ensure and give evidence that
you have communicated appropriately. Documenting and writing down information
being passed down to you and which you have passed across is a good approach to
working efficiently.
KNOW PEOPLE PERSONALLY:
it is also important to get to know your colleagues personally if you intend to
communicate effectively. A work place comprises of people from different
backgrounds and different values. Knowing what is important to certain people
makes it easier to communicate with them both within the work area and beyond. Don’t
force people to reason or communicate the way you do. Difference in values
should be welcome and managed.
KEEP DOORS OPEN: in
most organisations, bosses and managers like to keep closed doors and distance
from staff. This doesn’t necessarily have to be so. Keeping an open door is a
good approach to freedom and communication. Having access to your bosses and co
workers makes it easier to communicate and manage a business or company.
ORGANISING MEETINGS: It
is also important to organise meetings within staff or say department for
bigger companies from time to time. Talking together on a table also give
people the opportunity to communicate and share their thoughts, opinions and
ideas in the presence of everyone.
As the saying goes,
people quit their bosses not their jobs. Communication is a crucial determinant
of the possibilities of a company retaining valuable staff and giving them the
proper opportunity to get the job done.
Big Story: Focus On Challenges Of Nigeria's Food Security Pt 1
Talking about the challenges facing the Agricultural sector in Nigeria and many other African countries. The insecurities in the food production sector and other factors that is contributing to poverty in the nation.
20 SHIPPING FIRMS LEAVE NIGERIA OVER LOW BUSINESS
Friday, August 26, 2016
Groaning under intense
hardship imposed by poor government policies and global economic crunch, over
20 shipping firms have exited the nation's shores.
This is coming as
Dockworkers Union of Nigeria (DUN) lamented that over 3,000 workers have
already been laid off by various shipping companies, terminal operators and
logistic companies, owing to lack of financing and poor import policies of the
Federal Government.
The workers also blamed
the massive retrenchment on the inability of the Federal Government to meet its
joint venture obligation with the international oil companies which are major
partners with the marine logistic companies.
Some of the companies
that have already made an exit include Mitsui O.S.K Line, Nippon Yusen Kasha,
Taiwan's Evergreen Line, Messina Line, Hapag-Lloyd and Gold Star Line (GSL),
among others which were forced to withdraw from the West Africa route due to
growing losses as a result of declining volumes.
The President,
Dockworkers Union of Nigeria (DUN), Anthony Emmanuel Nted, yesterday bemoaned
the poor state of the ports, terminal and work environment in the maritime
industry.
Nted revealed that
about 20 shipping firms have left the shore of the country because of low
traffic occasioned by government importation policy.
According to him,
Nigeria as an import-dependent country cannot suddenly ban the importation of
the principal goods being generally consumed in the country.
"Hence, the
current government policy on importation though with the best intention seems
to be wreaking more havoc on the economy and ought to be reviewed
urgently," he said.
He, therefore, urged
the Federal Government to review the ban on the importation of rice, wheat,
vehicle spare parts and industrial machinery until the nation is able to
produce for local consumption. He added that the failure to do this would
encourage smuggling, diversion of ships to neighbouring countries, idle ports,
retrenchment of workers, unemployment and general loss of revenue to
government.
According to him, some
of the employers of Intels and other logistic companies, which render services
to the IOCs are being faced with financial challenges and therefore forced to
retrench workers.
He said: "The
non-payment of cash calls by government to these oil companies as per their
joint venture agreements has been a major setback to the funding of the service
of our employers (the logistic companies) and consequently responsible for the
massive retrenchment of our members."
But Nted decried the
alleged moves by the Nigerian Ports Authority (NPA) to sack a section of
dockworkers, tally clerks and onboard security men.
He lamented that the
volume of vehicles imported into the country through ports has collapsed to an
all-time-low, with the consequent loss of thousands of jobs in the industry.
This was attributed to
the duty regime introduced since 2014 and the implication of the new exchange
rate for duty calculation, which has made the importation of cars and trucks
too expensive.
"In the last two
years the number of vehicles in Nigeria has shrunk by almost two-thirds, while
the volume of cars smuggled through Cotonou continued unabated," he said.
Also, the Maersk Supply
Service, a part of Danish shipping and offshore energy conglomerate Maersk
Group, is apparently adopting austerity measures as it moves to reduce its
Offshore Supply Ship Vessel (OSV) fleet by 20 in the next 18 months, even as it
plans to reduce its crew pool by 400 offshore positions.
The company said that
the divestment plan was a response to vessels in lay-up, limited trading
opportunities and the global over-supply of offshore supply vessels in the
industry.
The Chief Executive
Officer of Maersk Supply Service, Jorn Madsen, said: "We are facing
unprecedented market conditions, and regrettably we have to further adjust our
crew pool. It is an unfortunate, but necessary step to safeguard the future of
our company".
He said: "One of
Maersk Supply Service's prime objectives is to attempt to restore the supply
demand balance in the offshore supply market. This is why the vast majority of
the divested vessels will be recycled or modified by their new owners to
compete outside their present segments."
Madsen said as a
consequence of the fleet reduction and the flagging of existing project vessels
to the Isle of Man registry, around 400 crew members would be made redundant as
a "necessary step to safeguard the future" of Maersk Supply Service.
"The decision was
taken in an attempt to improve the efficiency of the company and to stabilise
the liquidity and cash flows. The redundancy process is expected to be
completed by the end of September 2016," he stated.
Mining in Zambia, Opportunities and Challenges
A Documentary that worked on as Co-producer under Loyola Productions Zambia. It looks at Mining in Zambia and how the Mining industry can contribute the attainment of Development Goals. This Documentary has been packaged for The Ministry of Mines with Support from United Nations Development fund ahead of the UN General Assembly 2015 which will agree on the adoption of the Sustainable Development Goals as the successors to the Millennium Development Goals. The Documentary Highlights some of the challenges in the Mining sector but focuses more on How the sector can continue to help with the attainment of the Sustainable development Goals.
FUEL YOUR PASSION, PROFIT FROM IT
The easiest way to make
money is to do something you are passionate about. Everyone is passionate about
something, you might not just have discovered what you are most passionate
about yet, but trust me, there is that one thing you love to do, there is
something you feel most comfortable doing. You can make so much money from
fuelling your passion and going in the direction of your dreams.
COVERT YOUR PASSION
INTO A SKILL: there are so many things you would love and know how to do but
you might not really make good money from what you are passionate about if you
do not make the effort to convert it into a skill. You can choose to seek
professional help or you put some sort of effort into developing your passion
into a skill. You just need to ensure it becomes a skill you can monetize. For
example, if you love fashion and love to dress well, you can think of a way to
convert this passion into a skill, you can learn how to design and make
outfits, you could even decide to shop for people. You need to make your
passion a skill if you want to make from it.
THINK OF MONETIZING
YOUR PASSION: after acquiring and fuelling your passion appropriately, it’s
time to consider ways of making money from your passion. Either by developing
products or rendering of services, there are always ways to give people value
from your passion thereby getting a price in return. There are several ways you
can make money from your skill. It includes: developing a product, rendering of
services, consultancy, blogging and freelancing, invention and innovations and
so many other ways.
STAY FOCUSED: be
certain it takes more than your passion to get the big break you desire.
Hardwork or rather smart work is a must. Your passion, ideas and creativity is
the stage, the effort and attitude you put towards making it a reality is the
fuel. Talk to people in similar fields, learn, be informed and give it all it
takes.
ALLOW YOURSELF TO GROW:
it’s important that you know that process is a progress and success is rather a
journey not a destination. Don’t be a perfectionist. Be ready to learn and grow
on the venture. Don’t be rigid, be flexible and appreciate change. Don’t be
complacent, endeavour to aim higher and set bigger goals.
There is no room for
success in the comfort zone. Your passion might be a raw precious stone, your
effort and passion is still needed to polish it out.
Investment Opportunities in the Zambian Poultry Sector
As a strategy to contribute to improved investment and competitiveness of the Zambian poultry industry, the Embassy of the Kingdom of the Netherlands in Harare in conjunction with AgriProFocus Zambia and the Poultry Association of Zambia commissioned a market study on investment opportunities to inform the Dutch businesses that have interest in investing in the Zambian poultry industry.
In the poultry sector lie different investment opportunities. This video highlights these opportunities, the costs of investments, expected returns and the Poultry Companies seeking the different investment opportunities.
Notwithstanding lack of data on Zambia’s poultry imports and exports, the market study established that the Zambia poultry has been growing steadily for the past five years averaging around 8 % and 20% for broilers and layers annual production respectively. The rapid poultry production increase is attributed to a number of factors such as national population increase, disposable income rise buoyed by growing middle income class, investment in poultry breeding, production and processing as well as increasing poultry feed ingredient of maize and soybeans.
In the poultry sector lie different investment opportunities. This video highlights these opportunities, the costs of investments, expected returns and the Poultry Companies seeking the different investment opportunities.
Notwithstanding lack of data on Zambia’s poultry imports and exports, the market study established that the Zambia poultry has been growing steadily for the past five years averaging around 8 % and 20% for broilers and layers annual production respectively. The rapid poultry production increase is attributed to a number of factors such as national population increase, disposable income rise buoyed by growing middle income class, investment in poultry breeding, production and processing as well as increasing poultry feed ingredient of maize and soybeans.
FG, WORLD BANK BOOST SMES WITH BIG PLATFORM
Thursday, August 25,
2016
The President Muhammadu
Buhari-led Federal Government, through the Ministry ofIndustry, Trade and
Investment, FMITI, has concluded plans to boost Small and Medium Enterprises,
SMEs in Nigeria, with the introduction of the initiative tagged- Business, Innovation
and Growth, BIG Platform.
With adequate support
by the World Bank, the FMITI, in a statement on its website, seeks to grow SMEs
in Nigeria, along the lines of sales, as well as providing employment
opportunities for Nigerians.
The statement read: “The
Federal Ministry of Industry, Trade and Investment, (FMITI) with the support of
the World Bank seek to grow small businesses in Nigeria. These businesses will
be boosted along the lines of sales and employment, so that we can eventually
grow our economy and reduce our dependence on crude oil.
“This initiative is
called the Business, Innovation and Growth (BIG) Platform and it is
operationalized in the Growth and Employment (GEM) Project.
“The FMITI and World
Bank have identified five sectors that have high potential for growth in
Nigeria; and these are the sectors that will be accessing the support the BIG
Platform will be offering. The sectors include- Construction, Entertainment,
Hospitality, Information and Communication Technology, ICT and Light Manufacturing
(Including Agro processing).
“The participating
businesses will receive support in the following ways: Free Technical
Assistance: Including training and consulting services and possibly; Grants:
Available in 5 categories: Equity, Matching, Performance, Institutional,
Innovative.”
Explaining how
Nigerians can register for the BIG Platform initiative, the statement stated:
“The steps to accessing this support is: Log on to the BIG Platform
(www.bigportal.org.ng), create an account and register your business, Attend an
induction workshop and Access the various services available on the BIG
Platform”
It added: “We welcome
existing Nigerian businesses operating within the aforementioned sectors to
register their business on the BIG Platform to benefit from this project.”
SOURCE: VANGUARD
Big Story: Waste To Wealth Pt.2
A report on how waste is managed, recycled and processed to generate income for business owners.
Big Story: Waste To Wealth Pt.1
A report on how waste is managed, recycled and processed to generate income for business owners.
BUILDING YOUR BRAND'S CREDIBILITY
Credibility is key to
run a business, especially an online business. An online venture without
credibility cannot stay long in business. Customers need to trust your brand if
you are going to be a success. Strong brand credibility can help everyone from
e-commerce stores to freelancers earn and keep their online customers'
trust.
Regardless of how long
a brand has been in business, all it takes to bring you down is news on
incredibility among customers. The lack of credibility is a business killer and
would stop any aspiring customer from doing business with your brand.
Tips on improving your
brands credibility include:
CUSTOMER REVIEWS: what
others are saying about you is valuable to an aspiring customer. Posting client
reviews on your website immediately tells visitors your brand is
transparent and ready to own its image. Transparency and consistency each have
a significant part to play in building your brand's long-term credibility.
CERTIFIED TRUST SEAL: Ensuring
online security isn't enough. You need to show your customers what you're doing
to protect their transactions and their information. Most customers don't
have the technical know-how to determine your specific toolkit. All the same,
they do value the sense of security these seals provide them.
NOTABLE ONLINE
REPUTATION: Many consumers won't patronize a business whose principal member
has a poor reputation online. Building online brand credibility only works
in tandem with your personal identity, even more so for small businesses. You
should leverage content marketing to create a strong, personal
identity. In turn, your online credibility also will get a boost.
VISUAL CONTENT: Video
content can help your online business connect with consumers better than
text and images. As consumers become more accustomed to fast content and
reality TV, they expect businesses to adopt similar practices. Small-business
owners who allow consumers to see and hear them will gain more trust than those
who hide behind stock photos and static text on a web page.
PERSONALITY IS BRAND
REPRESENTATION: Customers want to relate to your business before they seek a
connection with you. This means your business must interact with customers
on a more personal level. It's a good practice for small businesses to
allow their founder's or CEO's personality to be reflected in how the
business is run. That includes the tone, message and format of communication
tools such as content pieces, emails, and videos.
Those are the few tips
necessary in building your brands reputation and credibility online.
How has Botswana fared in economic diversification?
The call for diversification of African economies is not new and in fact has been the rallying call from many of the continent's governments. How has Botswana fared in finding new markets and new revenue streams outside of the diamond industry?
APAPA GRIDLOCK: SHAME OF A NATION'S GATEWAY
Wednesday, August 24,
2016
It is not for want of
raising the alarm over the years that rather than get reasonable attention, the
Apapa-Oshodi Expressway has continued to go from bad to worse.
It has reached an
extent that someone asked: "What else are you going to write that has not
been written about this road, yet no one cares?"The reply was: "But,
the road is of such importance that it cannot be ignored. We will continue even
if it means shouting ourselves hoarse, until someone decides to do what is
necessary."
Today, probably more
than ever before, the Apapa-Oshodi Expressway constitutes a major setback to
businesses as terminal operators, shippers, tank firms and other industries in
that axis are losing millions of dollars to the gridlock.
The Guardian's
investigation showed that shippers have been diverting their cargoes to
neighbouring countries due to difficulties encountered in clearing goods from
the port.The road, which has suffered neglect for over 40 years now is
described by operators as an eye sore and a testimonial to infrastructure
decadence in the country.
Besides, customs agents
are lamenting that the bad roads have necessitated astronomic hike in cost of
clearing goods, as vehicles find it extremely difficult to access the terminals
for easy delivery.
Yet, the route is one
of the most economically strategic to the national economy as it links the
seaport in Apapa with the airport in Ikeja.It is currently posing threat to
over $650 billion investments at the Apapa and Tin Can Island Ports, going by
the estimates of the operators.
The road was partially
completed from Cele Bus Stop to Berger with the uncompleted part from Berger to
Wharf now taken over by commercial motorcyclists who shuttle between tankers
and container-laden trucks to access core port commercial area in Wharf. Many
are compelled to ride against traffic while the few conscious one have to wade
through the heavy pit of holes to find a route.
Indeed, the terminal
operators, Customs officials, port users, truck drivers, depot owners, and
transporters who spoke with The Guardian, lamented that the road is retarding
business growth and development.The Acting Managing Director, Ports and Cargo
Handling Services Limited, Alhaji Mohammed Bulangu, said the access roads to
the ports are in a deplorable condition and this has created a source of worry
to stakeholders in the industry.
He described it as a
major challenge to operators, while appealing to the Federal Government to
urgently address it for the overall good of the economy.Bulangu said the
company has done some palliative work on the road several times, but this could
not help unless government look into complete overhaul of the road.
The President of
Association of Nigerian Licensed Customs Agents (ANLCAN), Prince Olayiwola
Shittu said: "The road is in the hands of government. Several ministers
have made several promises and yet nothing has been done. No individual can
tackle that road, even to do palliatives. Some of the companies there came
together, but it was difficult because the foundation needs rebuilding.
"Considering the
heavy traffic and heavy load the road carries day in day out, it should be
concreted with iron, but the government said it does not have money to do
it."Some sections of the road had been fixed sometime ago, but it is very
difficult to complete because of the monetary measures put in place by the
government.
To do procurement, it
will go through some rigorous steps and many offices. That is what you see in
some of our budget. There is no way we can do even 40 per cent implementation
of the budget because of the restrictions. We have many of our members who
sleep in Apapa and go home at the weekend.
"Importantly, let
me say this: anybody who has no business should not be at the ports. Go there,
you will see people reading newspapers, idling away their time along the road.
Ask them what are they doing they will say: 'I am looking for my importer.' Why
don't you go to the office and wait for your importer.
"The new parking
space is provided for them, I think NPA, which is the landlord and transport
workers should tell us what is the issue with the parking lots. You will also
see petroleum tankers parking on the road and waiting to lift fuel. In fact
petroleum depots should not be located near the ports. No country allows tank
farms near residences and ports. They could as well locate them in Epe and
access it from that end in other to decongest the ports route. The ports have
been in existence but those who took money in government to approve these tank
farms have taken the money and they have gone, that is what we are suffering
today," he said.
Managing Director,
Lagos Deep Offshore Logistic Base (LADOL) Amy Jadesimi, said it was high time
the Federal Government fixed the road to boost industrialization. Although, the
route does not really affect LADOL since it is located on an Island adjacent
Ikoyi and Apapa, Jadesimi said it is key to success of other important businesses
that contribute immensely to the economy.
"Those who know
LADOL very well know that we reach LADOL by water and we chose that location
specifically for ease of logistics. Ikoyi to Lekki by water takes you less than
10 minutes, but to travel by road takes you more than one hour depending on the
traffic situation. It is not affecting us because we have other routes that we
can take.
"However, I need
to say that it is critically important that we resolve this infrastructure
issue to save our economy.Fewer than 20 per cent of the roads in Nigeria are
okay, so we have a national crisis in terms of infrastructure which needs to be
addressed, because unless we stand to fix the infrastructure deficit we are not
going to industrialise our nation," she said.
Meanwhile, there are
indications that AG Dangote Construction Company are planning to commence works
on the roads.As part of the arrangement, the General Manager, Western Ports of
the Nigerian Ports Authority (NPA), Michael Ajayi has appealed to all owners of
underground cables along Apapa Wharf road to urgently clear or get alternative
custody for them to allow for the commencement of reconstruction work on the
road.
Ajayi reiterated that
the early commencement on the Wharf road reconstruction project would depend on
the timely cooperation of the owners of some underground infrastructures whose
facilities may be affected by the project.
The general manager
explained that as the handily contractor on the project Messrs AG Dangote
Construction Company, a subsidiary of Dangote Group has mobilized to site and
ready to commence work on the road. It has become necessary to appeal to all
owners of these underground facilities to clear them or get alternative custody
for them to allow work on the project to commence in earnest.
It would be recalled
that the Federal Government had approved Messrs AG Dangote Construction
Company, to re-construct the Lagos Ports Complex access road from the Port to
the foot of the Apapa Bridge by Area "B" Police Station along Wharf
Road, Apapa.
It could also be
recalled that in order to ensure a hitch free commencement of the
reconstruction , the Nigerian Ports Authority (NPA) Western Ports
(Headquarters) convened a meeting of stakeholders to discuss modalities for the
successful execution of the project.
Ajayi pointed out that
it is in the interest of all stakeholders and all those doing business in Apapa
to see to the early commencement of the reconstruction work on the Wharf Road
and its successful completion as unnecessary further delay on this project
would not be in the interest of the overall economic activity of Lagos State
and the nation as a whole.
SOURCE: THE GUARDIAN
CONTENT DEVELOPMENT TIPS
It’s quite discouraging
to spend time and effort on a piece of content that ends up being ignored in
publications or sales platforms. This is why it is essential to engage in
content optimization, this ensures that you connect with your audience on a
level that is exciting and acceptable.
Just like in novels and
movies, it you can’t engage your audience till the last scene, you might not
get that type of review or referral that you desire even after a few sales and
we all know that referrals are crucial in business. Here are few tips a content
developer can adopt to maximize productivity.
BE CONVERSATIONAL: it is
always best to structure the content in a conversational way so that it is easy
to absorb and retain for the average reader. Use everyday language that reads
as if you are speaking to your audience in person. Keep it as simple as
possible, don’t get people confused with terms and grammar.
Put yourself in the
shoes of your audience and think of what follow-up questions might be asked so
that you can address them in your initial piece.
IMPLEMENT ‘CALL TO
ACTION’: An ideal way to create more engagement and make your content more
exciting for readers is to implement calls-to-action once or twice within most
of your pieces. A call-to-action doesn’t have to be treated as a sales tactic.
Asking your readers to
try a specific technique at home, referring them to places they can get more information and
offering invitations to sign up for free online seminars are all effective ways
to encourage action and engagement among your audience. Challenging your
audience to do something even within your content is a good approach to ensure
content is being implemented.
VISUAL REPRESENTATIONS:
visual are always useful tools in content development. It makes content
exciting and understandable. It is obvious that audience react more positively
to visual content compared to plain text. For this reason, high quality photos
and videos are worth considering for any form of content.
Consider these tips for
your content development today and watch your audience get bigger and more
enlightened.
Navigating through the Mozambican market
CNBC Africa's Tshepo Modiba is joined by Thabo Ncalo, Founding Partner of Ankole Capital for more on the markets in Mozambique.
IMPACTS OF SOCIAL MEDIA ON BRANDING
It is no longer news
that social media is an important component for building a profitable brand.
Social media obviously has a lot of impact and effect on building a brand in
the world of today but many business owners and aspiring entrepreneurs still fail
to seize this opportunity for business success. Here are few tips on how social
media can have impacts on your brand.
BRAND RECOGNITION: It’s
quite simple, the more frequently you show up on social media, the greater your
brand exposure and the more recognizable and credible your company, personal
brand, product and business become. A smart use of social media will get
you the type of recognition you need to make good business deals.
INCREASED TRUST THROUGH
LEVERAGED CREDIBILITY: leverage credibility helps boost your reputation and
acceptability to your audience. Getting a retweet or a share post of content
you put up from personality or established brand could help influence the way
you are accepted. Social media recommendation can do so much in branding.
COMPETITIVE ADVANTAGE
IN COLD CONVERSIONS: The third social media marketing bottom line for your
business or brand is a competitive advantage in converting visitors who come to
you cold via internet search into members of your tribe. Having a strong
social media presence than your competition will help you capture attention of
more and better audience who you are likely to convert into paying customers.
MORE CUSTOMERS, MORE
PROFIT: while social media is by no means a total solution to increasing your
sales, it can do no harm. Sales reps that mostly use social media as their
selling process are more likely to have better results compare to reps that do
not.
Doing business, sealing
deals and making more money via social media is viable and possible. Converting
your audience and network to paying customers is mostly all that you are left
to do.
Analyse This - CBN Floating The Naira: What This Could Mean For The Economy
On Analyse This today, Arese Ugwu and Tunji Andrews discuss the recent decision of the CBN to float the Naira and how this could affect the Nigerian economy going forward.
Nigeria, others strategise on local manufacturing of drugs
Tuesday, August 23,
2016
Economic recession
notwithstanding, practitioners in the pharmaceutical industry have identified
the imperative of new investments as driver of real development in the
pharmaceutical manufacturing sector in Nigeria and Africa.
They said that with
growing reduction in foreign direct investment, stakeholders must re-strategise
efforts at attracting home-grown investments to keep the sector robust and
meeting the needs of the citizens.
The call was made
against the backdrop of growing scarcity of some imported pharmaceutical
products and rise in prices of their locally-made counterparts, both of which
were blamed on spike in foreign exchange rate to the Naira.
The Association of
Community Pharmacists of Nigeria (ACPN) said the health sector and the Nigerian
publics are beginning to feel the scarcity of some crucial pharmaceutical
items, and called for special intervention fund to save the sector.
Founder and Chief
Executive Officer of PharmaAfrica, Miles Mudzviti, said it was high time major
stakeholders, both in the public and private sectors, came together to chart
the way forward, with a common understanding on the type of industry they want
to see in the next couple of years.
Mudzviti, who spoke
ahead of the fourth edition of the Africa Pharmaceutical Summit and exhibition,
said some of the issues most pressing for attention are in the area of capacity
and capability for manufacturing, developing framework for deregulated
environment and facilitating investments into the pharmaceutical industry among
other.
He said, despite the
current economic outlook, Nigeria, which is responsible for about 78 per cent
of drugs manufactured in the West African region is at a vantage position to
lead her neighbours into real development.
In his words: "I
recognise that it is very challenging for local manufacturers in Nigeria at the
moment with majority of the raw materials, equipment and maintenance all
imported. At the current exchange rate, it is obviously that manufacturers will
be on the back foot.
"There is,
however, a space where government can play a role in supporting industries for
the short term like giving forex till the economy improves. But on the main,
there are opportunities in the long run."
He observed that over
the years, there had been efforts to support local companies to get Who Health
Organisation's (WHO) prequalification and a lot of investments through the Bank
of Industry.
"Quite obviously,
there is a lot more that can be done in terms of looking at how government,
which is the main customer of manufacturers, buy these products. Public sector
has really done well but there is more to be done.
"There are also
interests from the private sector, with a lot still looking at Nigeria. The
fundamentals for such investments are strong though the environment are quite
challenging."
He added that the
African Pharmaceutical Summit (APS) had been at the forefront of achieving the
common frontier to develop the sector in Africa, organising APS summit across
the regions.
He said Nigeria would
lead neighbouring countries at the West African and fourth edition of the
summit and exhibition, holding in Lagos from September 6 to 7.
Mudzviti said:
"Nigeria is very key to the development of the sector in Africa, with
greater concentration of indigenous companies here. This is the biggest economy
on the continent as well.
"For us, we feel
that it is an opportunity to bring the platform here and try to get some
momentum on issues of common interest like distribution, upgrading capabilities,
future landscape of health insurance, good distribution systems and
practices," he said.
Chairman of the Lagos
branch of Association of Community Pharmacists, Biola Paul-Ozieh, appealed to
the Federal Government to activate the Pharmaceutical Intervention Fund (PIF),
to save the pharmaceutical sector from total collapse.
Paul-Ozieh, noted that
the high foreign exchange rate and the consequent high cost of purchase and
importation of medicines were discouraging importers.
"The situation has
also caused the increase in the products that have been imported. It is
currently affecting the affordability of medicines among the ordinary Nigerians
who pay-out-of-pocket for their healthcare. For us to be able to have universal
health coverage we must have affordable medicine.
"The National Drug
Policy also indicates that we must be able to make our medicines locally. If
today in Nigeria, 80 per cent of the drugs we use are made locally, the drugs
will be more affordable to the populace," she said.
Paul-Ozieh added that
the PIF would serve as a revolving fund for drug manufacturers who need capital
to build local manufacturing plants, thereby reducing the country's dependence
on imported drugs.
"Government needs
to encourage local manufacturers and put petrochemical industries in place, so
that raw materials will be available and manufactures can source their raw
materials locally. That way, we will be self-sufficient in terms of drugs
production and administration in the country," she said.
SOURCE: THE GUARDIAN
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