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FG Commends Indorama on Cheap Fertilizers for Farmers

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The Presidential Committee on Fertilizer Initiative (PCFI) has expressed satisfaction with the participation of Indorama Eleme Fertilizer & Chemicals Limited (IEFCL) Port Harcourt, in the programme aimed at supplying NPK fertilizer to farmers nationwide at cheaper cost.
Chairman of the committee, Alhaji Mohammed Badaru Abubakar who is also the Governor of Jigawa State made this statement on Saturday, 4th February, 2017 when he visited the Indorama world-class fertilizer plant in the company of the President of the Fertilizer Producers & Suppliers Association of Nigeria (FEPSAN), Mr. Thomas Etuh and the Managing Director of the Nigerian Sovereign Investment Authority (NSIA), Mr. Uche Orji.
Alhaji Abubakar said he was impressed that Indorama has fully keyed into the Presidential Fertilizer Initiative whose goal is to help the Federal Government to achieve higher food production and food security in the country.
This is contained in a press release issued by the Head of Corporate Communications of Indorama-Nigeria, Dr Jossy Nkwocha.
“In supporting the Federal Government’s Fertilizer Initiative, Indorama will this year supply 360,000 metric tons of Urea to Fertilizer blenders, who in turn will produce NPK fertilizers and supply at cheaper price to the farmers across the federation.”
According to him, Managing Director of Indorama-Nigeria operations, Mr. Manish Mundra, received the team and conducted them round the Ammonia, Urea and Utilities plants which have capacity for 1.5 million metric tons of Urea fertilizer per annum and the largest single-line Urea plant in the world.
“At the Bagging section of the plant, the Presidential team inspected the specially packaged granular Urea bags meant for delivery to the blenders.”
Mr Mundra informed the team that the Ammonia section of the fertilizer plant is presently undergoing scheduled maintenance shutdown to optimize its ammonia production and reduce energy consumption, activities that will enhance Indorama’s participation in the Federal Government Fertilizer Initiative.”
“The shutdown of the Ammonia plant is part of Indorama’s excellent maintenance culture and innovation, and the plant will be re-started on 24th February,” Mr Mundra assured.
Governor Abubakar said he was quite impressed with Indorama’s operations especially in helping the Federal Government to achieve its agricultural transformation agenda. “I must say that I am impressed that Indorama is supporting the Federal Government initiative. This is one of the initiatives to bring down the cost of food items in the country”, the Chairman said.
President of FEPSAN, Mr Etuh, also commended Indorama for keying into the Federal Government Initiative and promised that members of the association, especially the blending plants will make the best use of the opportunity to facilitate greater crop harvest this year.
Indorama has supplied about 250,000 metric tons of granular Urea fertilizer to farmers nationwide since June 2016 when it commenced production.

Through import substitution, the company has helped the Federal Government to save foreign exchange and also earn scarce forex through the export of its surplus production after meeting domestic demand.

Linkage Assurance Reports N3.7bn Premium in 2015

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Underwriting firm, Linkage Assurance Plc has promised its shareholders that the future looks bright for the company, given the result of its restructuring which is beginning to impact on her overall performance.

Dr. Pius Apere, responding to shareholders questions at the Company’s 22 Annual General Meeting in Lagos said bad days are over for the company, assuring that shareholders will soon start to earn dividends.

“We have got to the end of the tunnel where dividend will start coming, Apere assured.

Apere who was recently appointed the managing director and chief executive officer of the company stated that figures from its 2016 unaudited accounts, plus expected dividend from its investment would put smiles on the faces of shareholders.

He informed that the company has strengthened its human capital with new heads of department, while its marketing team has been beefed up with top flight insurance marketers and the results coming are fantastic.

“We have gone past the time when we measure our performance based on gross premium, we are now measuring based on bottom line”. Going forward, there will be an improved communication between our company and the shareholders so that all of us will keep pace with developments in the company, Dr Apere stated.

Chairman of the Company, John Eseimohkumoh disclosing performance of the company in 2015, said its gross premium grew by 24 percent from N3.05 billion in 2014 to N3.79 billion, while net premium rose 25 percent to close N2.44 billion at the end of 2015.

Eseimohkumoh further disclosed that investment and other incomes rose by 26 percent from N1.19 billion in 2014 to N1.50 billion. Profit before tax also grew by 60 percent from N580.85 million in 2014 to N929 million, while profit before tax closed at N512.24 million, a growth of 58 percent.

Going forward, he said “we are confident that that in spite of the uncertainties in the economy, the future is still bright”.

“In line with our strategic roadmap we shall continue the repositioning strategy aimed at transforming your company through a set of definitive strategic initiatives, as enunciated in our growth plan.”

Facebook, Africa Unite for Safer, Better Internet

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facebook

Yesterday was Safer Internet Day (SID) (and Facebook launched a series of initiatives to help make the Internet a safer and better place for people across Africa, especially children and the youth. Facebook is partnering with public sector agencies and non-governmental organisations from across Africa under the rallying call “Be the change: unite for a better Internet”.
“Nothing is more important to us than the safety of the people who use Facebook. Every day people come to Facebook to connect with people and issues they care about, and they should be able to do so in a safe, secure environment,” says Akua Gyekye, Public Policy Manager Facebook, Africa.
Facebook builds products that empower the community to stay in control, support each other during crises and stay safe online. Every Facebook product has privacy and security built into it to protect your information.

Worldwide conversation 

Over 100 countries are participating in an effort to start conversations and help people think about the small steps they can take to stay safe online. The initiative is coordinated by the joint Insafe/INHOPE network, with the support of the European Commission, and national Safer Internet Centres across Europe and beyond.
In Africa, Facebook is working with various partners to ensure the safety and education of their communities and address the needs of vulnerable people.
Facebook is providing financial and marketing support for them to use to raise awareness about online safety. Facebook is also hosting an event in Johannesburg, South Africa and Nairobi, Kenya to promote the importance of online safety to students, teachers, parents and policymakers.

Everyone has a part to play

Gyekye says: “This is an opportunity to explore the role we all play in helping to create a better and safer online community. We are proud to work with young people, parents, carers, teachers, social workers, law enforcement, companies, and policymakers to create a better Internet.”
Facebook has redesigned its Safety Center, an engaging resource to help people get the information they need about controlling their information and staying safe. It walks you through the tools Facebook offers to control your experience as well as numerous tips and resources for safe and secure sharing. It is available in over 50 languages, is mobile friendly and includes step-by-step videos.

Quotes from relevant partners

TechWomen Zimbabwe
“As more Zimbabwean women and girls go online to take advantage of the immense opportunities the internet offers, they empower themselves with knowledge, education and connections with others,” says Techwomen Zimbabwe’s Founder, Aretha Mare. “We are determined to break down barriers to the Internet for women and girls so they can maximise the benefits of the Internet – and that includes tackling challenges such as online harassment and bullying.”

Watoto Watch Network: Kenya
“The Internet brings offers great opportunities for Kenya’s youth and children. This year’s Safer Internet Day gives young people the opportunity to voice their views on how to make the internet better,” says Lillian Kariuki, executive director at Watoto Watch Network.

JI Initiative from Ghana
“We are passionate advocates for a safe Internet for young people and children, so we are pleased that Facebook embraces its responsibility to keep people safe on its platform,” says Awo Aidam Amenyah, Executive Director at JI Initiative. “We are pleased to work with Facebook to promote positive online experiences for everyone.”

Ghana Internet Safety Foundation
“The massive support we’ve seen for this year’s Safer Internet Day is truly inspiring,” says Emmanuel Adinkrah, Co-Founder and CEO of Ghana Internet Safety Foundation. “It is heartening to hear about the ways young people are using technology to take positive action online to empower each other and spread kindness. We want to encourage them to keep building a better internet for all.”

Film and Production Board: South Africa
“It is important to have conversations early and often  about how inappropriate content on the Internet may affect children,” says Janine Raftopoulos, Manager Communications and Public Education South Africa’s Film & Publications Board (FPB). “Parents, educators, guardians and industry all have a part to play in ensuring that children understand how to stay safe online.”

ICLDING: Nigeria
“We’re pleased with our partnership with Facebook for Safer Internet day to raise awareness and have conversations about staying safe online,” says Felix Bidemi Iziomoh, Executive Director at ICLDING. “We are proud to play a role in uniting our community for a better internet.”

Women’s Technology Empowerment Centre (W.TEC)
“The 2017 theme for the Safer Internet Day ‘Be the change: unite for a better internet’ resonates strongly with the Federal Government of Nigeria’s campaign, ‘The change begins with me’,” says Adeyemi Odutola, Communications Officer at Women’s Technology Empowerment Centre (W.TEC). “We are excited to partner with Facebook to host a day of workshops and fun activities for secondary students, where they will learn how to navigate the Internet confidently and safely.”

Senegal (JOXAfrica Association)
“Protecting children on the Internet is a priority for us as we rally with governments NGOs and private companies for a better online community,” says JOXAfrica Senegal’s Assane Diouf. “Together with Facebook, as the world’s biggest online social network, we can create higher awareness of how we can keep children safe online.”

Africa, Middle East IoT Spending to Reach $7.8bn in 2017

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The Middle East and Africa (MEA) internet of things (IoT) market is forecast to defy the region’s moderate economic outlook by growing 19.6% year on year in 2017 to total $7.8 billion, according to a recent update to the Worldwide Semiannual Internet of Things Spending Guide from International Data Corporation (IDC).

This compares favorably to the healthy 18.1% growth seen in 2016, with IDC attributing the market’s performance to the proliferation of digital transformation initiatives across the region as businesses and government entities strive to boost productivity and improve efficiency.

“The MEA IoT market is becoming increasingly competitive, enabling organizations to source a range of innovative digital solutions aimed at transforming business operations, improving the customer experience, and enhancing employee engagement,” says Wale Babalola, research analyst for telecommunications, IoT, and digital media at IDC MEA.

“Indeed, IoT now offers a myriad of industry-specific solutions that can be easily deployed by organizations in a bid to stay ahead of competition.

“IDC expects the manufacturing, transportation, and utilities industries to see the highest levels of IoT-related spending in 2017 as organizations across these verticals look to digitalize their operations and improve their value proposition across different lines of business. The commitment of service providers, application developers, and OEMs to developing purpose built end-to-end IoT solutions is serving as a major driver of the growing adoption we are seeing across the region.”

Manufacturing organizations will lead the way in 2017, with IDC forecasting IoT-related spending of $1.3 billion for this vertical. The ‘manufacturing operations’ use case will account for more than 51% of this investment. ‘Manufacturing operations’ is an IoT use case that supports digitally-executed manufacturing and the way in which manufacturers use intelligent and interconnected I/O (input output) tools (e.g., sensors, actuators, drives, vision/video equipment) to enable different components in the manufacturing field (e.g., machine tools, robots, conveyor belts) to autonomously exchange information, trigger actions, and control each other independently.

The transportation industry is also forecast to see IoT-related spending of around $1.3 billion in 2017. The ‘freight monitoring’ use case is expected to account for $849 million of this figure, which aptly highlights the increasing importance of monitoring goods and improving productivity.

The use of IoT for freight management purposes (air, railroad, land, or sea) is based on RFID, GPS, GPRS, and GIS technology to create intelligent, internet-connected transportation systems. These systems perform intelligent recognition, location, tracking, and monitoring of freight and cargo by exchanging information and real-time communications via wireless, satellite, and other channels.

IDC forecasts IoT-related spending by MEA utilities to reach $918 million in 2017, with investments around ‘smart grid’ technologies to account for more than 82% of this total. Smart grids are rapidly gaining traction across the region as municipalities increasingly see the value proposition in deploying related solutions in an effort to efficiently distribute resources to their respective end customers.

“Numerous smart city projects are already underway across the region, and the propagation of such initiatives will continue to fuel IoT adoption by both public and private sector organizations,” says Babalola.

“Saudi Arabia and the UAE are leading the charge when it comes to smart cities, so it makes sense that these two countries will account for the highest contributions to overall IoT investment in MEA during 2017, with a combined value of more than $1.6 billion.”

IDC’s Worldwide Semiannual Internet of Things Spending Guide forecasts IoT revenues for 12 technologies and 47 use cases across 20 vertical industries in 8 regions and 52 countries. Unlike any other research in the industry, the comprehensive spending guide was designed to help vendors clearly understand the industry-specific opportunity for IoT technologies.

PR in Africa: The Way Forward in 2017

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Looking to 2017 and beyond, Africa’s prospects are positive.

According to a 2016 World Bank report, “Economic growth is showing signs of resilience… to continue to make progress on its development goals and achieve structural transformation, Africa must capitalise on the significant growth opportunities.”

Shrewd investors and companies that are already well established in the region should do just that – capitalise. We accept that Africa needs companies in the PR industry who take the time to invest in the region because PR services will play an integral role in promoting economic diversification, economic growth and job creation.

Nations right across sub-Saharan Africa are pushing ahead with reforms and initiatives that support the case for investment and business expansion. These reforms include anti-money laundering regulations, streamlined tax regimes and direct investment in start-ups and innovators. Countries that have developmental needs are pushing ahead with much-needed, major infrastructure projects and showcasing fast-growing industries.

For those of us in the communications sector, we have a significant role to play in supporting these priorities. As we look ahead to 2017, these are our predictions:

  • Stronger demand for reputation management

Reputation management will be one of the most highly sought after services – especially important in Africa because of cautious investor sentiment. Investors seek reassurance that issues of corruption, political instability and weak capital markets are all being addressed. Therefore, communications firms will increasingly offer reputation management services as a leading capability in 2017.

  • Boots on the ground – not affiliates

Having boots on the ground in local markets is arguably the most important and highly valued commodities available to an African-based communications firm. In sub-Saharan Africa, this is especially true because it is such a fragmented region with hundreds of languages and cultures.

Coinciding with the importance of local expertise, delivered by nationals who speak the mother-tongue and instinctively know how to navigate their own cultures; is the need for the provision of world-class communications skills.

Affiliate networks do add breadth to an organisation that has limited local resources in new territories, but culture matters – and we expect to see affiliate networks reach for that all-important asset: authenticity. Authenticity is best built over time, organically through team development and training – affiliates have their work cut out for them in this respect.

Governments and major organisations will almost certainly place increasing value on teams of individuals who are local and have been trained by international experts. This is where affiliate networks may fail: keeping the senior talent in South Africa or Europe makes it difficult to train up local teams. For this reason, training is also going to be a major focus for pan-regional communications firms in 2017.

  • More innovative social and digital campaigns

We have seen great success in the use of social and digital media across the continent. Many countries have a very high level of internet penetration; especially on mobile phones. It’s also an extremely young population that is unafraid of new technologies. Studies, reports and research papers can reach millions through smart use of Twitter, Instagram and others. Whilst print media continues to reach business leaders; it is social media that has the capacity to reach millions – which is why communications campaigns in 2017 are likely to see a greater appetite for and understanding of social media from clients.

  • Increased focus on CSR

Finally, social responsibility has come to the fore in a strong way over the past year. Governments, particularly, are extremely keen to be proactively dealing with social issues – such as access to basic services or job creation. Foreign firms also know that they need to leave a lasting legacy so here we can see a major opportunity to sell meaningful social responsibility platforms to clients. With issues, such as global warming, skills development and poverty; all companies in Africa have a responsibility to do the right thing for Africa.

NB: Mitchell Prather is the Managing Director of Djembe Communications.

Courtesy: HWMIIA

Qatar Airways Conducts World’s Longest Commercial Flight

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Qatar airlines

Qatar Airways has launched the world’s longest commercial flight, which takes 17 hours and 30 minutes and covers a distance of 14,535 kilometers, connecting Doha (Qatar) and Auckland (New Zealand) with the airline‘s Boeing 777.

Qatar Airways Group Chief Executive Akbar Al Baker who travelled on board the inaugural flight from Doha to Auckland said: “The launch of our new service to Auckland is an important milestone for Qatar Airways as we expand both in the region and globally across our network providing more options and better connections to exciting business and leisure destinations in Europe and the Middle East.

“Arriving in Auckland on Waitangi Day, and achieving the title of world’s longest flight for the return record-breaking service, which covers a distance of 14,535 kilometers and lasts 17 hours and 30 minutes, makes this an even more momentous occasion for Qatar Airways and provides another accomplishment to celebrate in this our 20th year flying the flag internationally for Qatar.”

According to the airline, Auckland is the first city in New Zealand to be served by Qatar Airways and will provide a gateway for travelers to visit the country, which is famous for its spectacular coastlines and lush forest landscapes.

The aircraft serving the route, Boeing 777, features a two-class configuration with 42 seats in Business Class and 217 seats in Economy Class.

The Doha-Auckland-Doha daily services will also offer 116 tons of belly-hold capacity every week to support the growing imports of raw, industrial and consumer materials into New Zealand.

Buhari Extends Medical Vacation, Fails to Return

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Buhari

President Muhammadu Buhari has sought extension of his medical vacation to complete more tests and failed to return to the country yesterday as earlier planned.

A statement from the Presidency read in part:

“President Muhammadu Buhari has written to the National Assembly today, February 5, 2017, informing of his desire to extend his leave in order to complete and receive the results of a series of tests recommended by his doctors,” the statement said.

“The President had planned to return to Abuja this evening, but was advised to complete the test cycle before returning.”

IMF: Strong Regulation Necessary for Healthy African Banks

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Ms Christine Lagarde, Managing Director, International Monetary Fund (IMF) says strong regulatory and supervisory setting can help ensure that healthy banks are able to provide the lifeblood of Africa’s economic resurgence. She promised that the process will be a long-term effort, and would be supported by the IMF at every step of the way.

Lagarde said in a paper ‘Financial Stability and Pan-African Banking’ she delivered at the Conference on Cross-Border Banking and Regulatory Reforms in Mauritius that African countries share similar hopes—not least of which is the need to develop well-functioning financial systems that are critical for Africa’s growth, lamenting that in many countries, access to finance remains limited.

‘Since the global financial crisis, pan-African banks and other institutions have become important features of the continent’s financial landscape. They are one more piece of evidence of the region’s dynamic changes. These institutions—including some participating in this conference— have filled the gap left by the retrenchment of European and American banks since the crisis. They have supported the growth of individual countries with better products and services. They have advanced economic integration and helped foster financial inclusion, they have leveraged technologies, including disruptive ones—witness the great gains of mobile banking in Kenya.’

She said these are important advances that can offer lessons to the world outside of Africa.

‘All over the world, these advances present central bankers and supervisors with new challenges; vigilance and cooperation will be needed to ensure stability and resilience. The growth of pan-African banks comes at a time of regulatory change worldwide. These reforms—spurred by the 2008 crisis—aim at building stronger defenses against future crises.In addition, you face a delicate balancing act: you need to enhance regulation and supervision but, in implementing global standards, you also must take into account local circumstances.’

  • The Supervisory Challenges of Pan-African Banking

Let us begin with the regulatory challenges. As bankers and bank supervisors, you understand the potential vulnerabilities that current slow global and regional growth presents. The changes in Africa’s financial sector landscape over the past decade call for added vigilance.

The expansion of cross-border banking has been impressive. Ten African banks now have a presence in at least 10 countries on the continent, and one is present in more than 30 countries.

This expansion inevitably has brought a host of new complexities. With varying regulatory regimes across countries at different stages of financial sector development, it should not be surprising that effective oversight of cross-border banking presents immense challenges. Unified accounting and reporting standards are absent. Data weaknesses abound. National secrecy laws and constraints on information flows impair cooperation among supervisors in home and host countries.

The key is to ensure that supervision takes place on a consolidated basis.

  • The Role of the IMF

Financial sector development is integral to this work. Our policy analysis and advice now consistently focus on financial issues, including under the Financial Sector Assessment Program. Increasingly, this work also is taking on a regional profile, highlighted by the 2015 report on the opportunities and challenges for cross-border oversight presented by pan-African banking.

The Fund is also launching a new capacity development instrument to support financial stability and inclusion in the region.

The IMF strongly supports your efforts to strengthen the environment for financial sector development in Africa. Strong and sound pan-African banks are a crucial part of this effort.

‘Africa Sleepwalking into Cancer Crisis’

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One of the unfortunate consequences of more people surviving childhood and living longer lives is that you start to see cases of cancer steadily increase.

But while medical advances are helping to improve survival rates of cancer patients in high-income countries, the limited access to screening and treatment across Africa means that a growing number of people are dying young from largely preventable and treatable diseases. Because of this Africa is now in serious danger of sleepwalking into a cancer crisis.

This is particularly the case with women and cervical cancer, which in many countries is the most common cancer affecting women. Currently 266,000 women die horrible deaths of this disease every year – one every two minutes – of which 87% are in low- and middle-income countries, with the eight highest rates of incidence all in Africa.

In Nigeria alone more than 14,000 women are diagnosed with the disease each year, more than 8,000 of whom die. And yet, tragically most of these deaths could be prevented thanks to the existence of an affordable and effective vaccine.

Human Papilloma Virus (HPV) vaccines targets the virus that is responsible for 70-90% of cervical cancers, depending on the vaccine. It is safe and one of the most effective and high-impact vaccines that exist, preventing 1,500 deaths for every 100,000 girls vaccinated. So then why aren’t African girls getting it?

Historically one of the major barriers was price. In wealthy countries, this relatively new vaccine can cost more than US$ 100 for each of the two doses required.

Today it costs just US$ 4.50 per dose for poorer countries, bringing it within reach of those most in need, thanks to the efforts of Gavi, the Vaccine Alliance, of which I am Board Chair. In addition to this the age of the target population has also posed challenges. HPV vaccine is most effective when given to women before they become sexually active, so campaigns are aimed vaccinating adolescent girls, typically between 9-14 years old.

Since this falls outside the age range when infants receive most of their vaccinations, it has meant finding reliable ways to reach these girls, such as working with civil society organisations, community health workers and youth friendly services to establish school-links and develop health platforms for adolescents.

Since 2013, this sort of approach has enabled more than 1 million school-aged girls in poor countries to be vaccinated against HPV, with more planned for 2017.

However, progress so far has largely been achieved through dozens of relatively small-scale “demonstration projects”. If we want to make a long-term dent on mortality rates, and prevent cervical cancer from continuing to rise, to the point where it kills more women than childbirth, then HPV programmes need to be scaled-up to a national level.

Countries like Rwanda and Uganda have already demonstrated that this can be achieved by first recognising the scale and severity of the problem, and then to acting on it. If other countries do the same, Gavi hopes to reach 40 million girls between now and 2020, preventing 900,000 deaths.

We saw a significant step in the right direction exactly one year ago, when on World Cancer Day, the then UN Secretary General Ban Ki-Moon issued a rallying cry to eliminate cervical cancer once and for all.

Then this week, the African Union, which is made up of 55 states, endorsed the Addis Declaration on Immunization, a commitment to ensure that all Africans – no matter who they are or where they live – can access the vaccines they need to live healthy and productive lives. The next step is for governments to earmark funds and commit to national HPV vaccine introductions.

Across Africa there remains a desperate need for cancer clinics offering women affordable screening and treatment, but compared to immunisation these are much more expensive to set-up. This is one reason why in Nigeria, for example, far more women die of cancer than men, even though Nigerian women tend to drink and smoke less, and are on average more physically active.

So, prioritising HPV will not only contribute to the social and economic development of countries and help governments meet the Sustainable Development Goal of reducing premature deaths from non-communicable diseases, such as cancer, by one third, but it will also go a long way towards addressing the terrible gender gaps that exist across Africa.

A development economist and former Finance Minister of Nigeria, Dr. Ngozi Okonjo-Iweala has served as Board Chair of Gavi, the Vaccine Alliance, since January 2016

World Bank: Governance Key to Equitable Growth in Developing Countries

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A new World Bank policy report urges developing countries and international development agencies to rethink their approach to governance, as a key to overcoming challenges related to security, growth, and equity.

The 2017 World Development ReportGovernance and the Law explores how unequal distribution of power in a society interferes with policies’ effectiveness. Power asymmetries help explain, for example, why model anti-corruption laws and agencies often fail to curb corruption, why decentralization does not always improve municipal services; or why well-crafted fiscal policies may not reduce volatility and generate long-term savings.

The report notes that when policies and technical solutions fail to achieve intended outcomes, institutions often take the blame. However, it finds that countries and donors need to think more broadly to improve governance so that policies succeed.  It defines better governance as the process through which state and non-state groups interact to design and implement policies, working within a set of formal and informal rules that are shaped by power.

“As demand for effective service delivery, good infrastructure, and fair institutions continues to rise, it is vital that governments use scarce resources as efficiently and transparently as possible,” World Bank Group President Jim Yong Kim said. “This means harnessing private sector expertise, working closely with civil society, and redoubling our efforts in the fight against corruption. Without better governance, our goals of ending extreme poverty and boosting shared prosperity will be out of reach.”

The report looks at country examples, including state building in Somalia, anti-corruption efforts in Nigeria, growth challenges in China, and slums and exclusion in India’s cities.  It identifies three winning ingredients of effective policies: commitmentcoordination, and cooperation. As three core functions to produce better governance outcomes, institutions need to:

  • Bolster commitment to policies in the face of changing circumstances.  This would help, for example, in cases where decision makers spend windfall revenues instead of saving them for the future, or when leaders renege on peacebuilding agreements in the absence of binding enforcement.
  • Enhance coordination to change expectations and elicit social desirable actions by all.  Challenges occur in many contexts, from finance to industrial clusters and urban planning. Financial stability, for example, relies on beliefs about credibility. Just consider how despite the rationale for leaving their money in the bank during times of distress, the public may rush to withdraw their deposits if they believe that others will too – ultimately causing the banks to lose liquidity and crash.
  • Encourage cooperation: Effective policies help promote cooperation by limiting opportunistic behavior such as tax evasion- often through credible mechanisms of rewards or penalties. Individuals may have incentives to behave opportunistically. Not paying taxes does not prevent them from enjoying public services that others are funding. Similarly, when groups fail to benefit from policies or feel short-changed (for example, by low-quality public services), it can further weaken compliance.

“Government officials do not act in a vacuum. Their decisions reflect the bargaining power of citizens who jockey with each other to advance competing interests,” said World Bank Chief Economist, Paul Romer“So this report launches a very important discussion for governments, their countries, and people in the development community about how we can make sure that society is on a path that’s generating progress. We need to confront a complicated political process in every country where power can influence the outcome of that process and we have to ask how can make sure that process leads to progress for everyone.”

According to the report, unequal distribution of power can exclude groups and people from the rewards and gains of policy engagement.  Yet meaningful change is possible with the engagement and interaction of citizens, through coalitions to change the incentives of those who make decisions; elites, through agreements among decision makers to restrict their own power; and the international community, through indirect influence to change the relative power of domestic reformers.

Based on extensive research and consultations in many countries over the past two years, the report proposes principles to guide reform and change the dynamics of governance for equitable development.

The report finds that good policies are often difficult to introduce and implement because certain groups in society who gain from the status quo may be powerful enough to resist the reforms that are needed to break the political equilibrium.

This year’s World Development Report ‘Governance and the Law’ has a wealth of insights that will inform and further strengthen the Bank’s work on governance,” said Debbie Wetzel, Senior Director of the World Bank’s Governance Global Practice. As the report notes, successful reforms are not just about “best practice”. They require adapting and adjusting institutions in ways that build more effectively on local dynamics and address specific problems that continue to stand in the way of development that serves all citizens.”

Digital Corporate Communications, PR, Public Affairs MasterClass for March 14

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The West Africa Business School has announced the 2017 Digital Corporate Communications, Digital PR and Digital Public Affairs Masterclass.

This comprehensive two-day programme is designed to help PR, corporate communications and public affairs leaders and professionals to get maximum benefit from integrating digital and social media into their PR strategies and programmes.

The Masterclass will show senior PR and Corporate Communications and Public Affairs leaders how they can deploy the latest digital communications tools and techniques to deliver tangible business and organisational benefits generate new business, improve reputation, nurture corporate citizenship and sustainability, retain loyal customers across all customers touch points and increase profitability for growth of the organisation.

The course is scheduled to take place as follow:

Date: 14 – 15 March 2017

Time: 9.00am – 5.00pm Daily

Venue: NECA House, Plot 42 Hakeem Balogun St., Central Business District, Alausa, Ikeja Lagos.

Nominations can be sent to: [email protected] OR [email protected] or call +2348027922649.

MASTER TRAINER/COURSE DIRECTOR – Stuart Bruce MPRCA FCIPR

Stuart Bruce has earned an international reputation as a pioneer, thought-leader and doer in modernised public relations and public affairs.

After selling his stake in a PRWeek Top 150 consultancy that he co-founded, he now works as an independent public relations advisor and trainer delivering public relations, marketing and communications training programmes all over the world.

He is internationally recognised for his expertise in digital PR, online communications and social media with an emphasis on corporate communications, public affairs, government communications and B2B public relations. He has more than 27 years’ experience and is one of the world’s first PR bloggers, writing www.stuartbruce.biz since 2003.

He was co-founder and managing director of one of the UK’s first online PR consultancies growing it in less than three years into a PRWeek Top 150 Consultancy and Top 30 Digital Consultancy. He is an elected member of the Chartered Institute of Public Relations (CIPR) council, founder member of its Social Media Panel, co-author of two PR books – Share This and Share This Too. The CIPR is the world’s only PR organisation accredited and regulated by a rigorous Royal charter.

Stuart is a visiting lecturer at Leeds Beckett University teaching international post-graduate students. He is a CIPR accredited public relations practitioner and also an official trainer for the CIPR and the Institute of Internal Communications (IoIC).

He has provided training to public relations, marketing and communication professionals from more than 40 countries and has run in country training in the United Kingdom, Belgium, Germany, Poland, the Netherlands, Sweden, Denmark, Croatia, Turkey, Lebanon, Kazakhstan, Georgia, India, Malaysia, Singapore, the Philippines, Thailand, the United Arab Emirates, Saudi Arabia and the USA. His consultancy and training clients include corporations, governments and not-for-profit organisations.

Stuart regularly speaks at international conferences and forums such as delivering the keynote speech in Istanbul on social media at the Global Crisis Communications Summit of the International Air Transport Association (IATA) to the heads of public relations and communications of more than 100 of the world’s leading airlines.

He sits on the international advisory board of the World Communication Forum in Davos and was the chief moderator of the 2015 Davos forum. He also regularly provides expert comment, articles and interviews to the media including Al Jazeera, BBC, The Guardian, PRWeek, The Independent, Communicate Magazine and The Holmes Report.

He has also provided confidential advice and training to senior PR and communications professionals running the offices of senior politicians and business leaders including senior UK government cabinet ministers, the Office of Prince Ali bin Hussein (Jordan and Vice President of FIFA), the Office of HH Sheika Moza bint Nasser (Doha), the Office of the Prime Minister of Brunei and the Office of the President of the European Parliament (Brussels).

As part of open courses in Dubai , Brussels and London, Stuart has also trained other defence, government and GCC clients including senior public relations and communications professionals of the UK Royal Navy and Royal Airforce, the UK Ministry of Defence, Boeing, Sellafield nuclear plant, the UK Civil Aviation Authority, Bahrain Defence Force, Etihad Rail, Gulf 4 Good, Bosch, King Abdullah University of Science and Technology (KAUST), Lebanese American University, Qatar Ministry of Foreign Affairs, Tasnee, Thuraya Telecommunications and Yahsat amongst many others.

‘Insurance Sector Will Grow in 2017’

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Segun Omosehin, Managing Director, Mutual Benefits Assurance Plc

Mutual Benefits Assurance Plc recently celebrated its 21st anniversary in Lagos.

In this interview, Mr.Segun Omosehin, Managing Director of Mutual Benefits Assurance speaks on the salient issues in the insurance industry in Nigeria. Excerpts.

21 years down the line, how has the journey been like for Mutual Benefits?

Well it has been an interesting journey like any typical business journey in our environment and our economy. Ups and downs but overall, we thank God that it has been a success but not without its own challenges but we’ve been able to overcome and we thank God that we are waxing stronger.

2016 has just passed and that is what you are thanking God for. So how was it for the business?

For the business, it was very great. However, because we do not operate in isolation, we operate within the larger economy and like you are very much aware, the recent devaluation in the value of the naira to the dollar affected our network.

So in absolute terms, if we are to convert what we’ve done relative to the dollar, we realised that we did much worse than the previous year because of the exchange rate and that in a way also affected our balance sheet because we had one of our particular portfolios denominated in U.S dollars.

So we had to go for some foreign exchange because of the particular instance, so all of these will have a direct impact on the balance sheet. So it’s a performance I’ll say we were proud of but for the vagaries of the macro-economic conditions of the country it affected the ultimate net value of whatever we’ve been able to achieve.

We are in 2017 and even from the IMF there is a projection that the recession will be reversed and there will be a minimal growth. How do you think the insurance industry will look like?

Let me start from this angle. There has been a whole lot of predictions as to what the economy will look like in 2017. A number of experts have all predicted that there will be 1- 1.5% growth in our national output.

The World Bank also followed suit by predicting 1% growth in our national output. These are outlooks that we’ve used in doing our benchmark as to what we want to do for the year. We are positive that hopefully with all that we’ve seen within the last quarter which was the fourth quarter of 2016 that the recession should be over very soon.

So- on that premise, those are the things we are looking at. However, in absolute terms, we also need to look at what are those things that the government has put in place to tackle the recession. There are several pointers that show that the government is absolutely committed to reversing recession.

One, you see the amount that was allocated to power; infrastructure, housing, then you also look at the amount that was allocated to the transportation sector. These are areas that will directly impact on the economy because anything you put on infrastructure it will directly impact on the government. And also the government decided to put a certain amount for social welfare, giving direct cash to the less privileged Nigerians and micro-credit schemes that were set up and above that, they also agreed that the deficit in the budget that is going to be financed through debt and 51-52% of that debt is supposed to be sourced locally, about N1.3 trillion is supposed to be sourced locally and this will have direct impact on activities within the economy.

 So, if you are now talking within this parameter, you will now observe that there are areas for companies like ours that are majorly concerned with covering risk associated with economic activities in the system. So, with the big picture that we painted, we are optimistic that activities will pick up and the insurance industry will do well.

However, there are new areas to be cautious of. The basic premise on which our projection or most of the international projection has been on is the ability to generate consistently some amount of revenue from the oil sector. Any disruption in the flow of income from the oil sector is likely to have direct impact on the economy and that is why we need to look at how well and what machineries we can use to manage the Niger-delta crisis. I’m optimistic because the vice president recently led a delegation to that region to look at a more pragmatic approach rather than an Abuja political decision that will not have direct impact to what is going on, so that gives us some comfort that for the first time, some guys are really looking at the real issues and looking at how well can we as a nation manage our own crisis because America is not going to come down to manage our own crisis for us. We now need some indigenous guys that can have the local dynamics and tackle some of those issues. So, on this premise I mentioned, as an industry, we believe that insurance has a brighter prospect this year given those parameters.

Recently, the regulator issued a directive that before ceding a risk abroad, you must make sure that you have a trusted local capacity. What is your opinion?

I think that is the best thing that can happen to this industry and I will continuously commend the regulators for taking some of this decisions.

The problem with our sector has not been lack of regulation; it is lack of enforcement of regulation. So my take on this is that it is good for the industry and I am hoping that the operators will see the beauty of this if we all adhere to those regulations because I think, why will you cede a risk outside when the capacity within the local market has not been exhausted. It doesn’t make sense. It is only in Nigeria that you see these things. If you go to the UK, it is natural that it would have been exhausted before going to the U.S market because it is cheaper for you. If you ask me, I think some measure of enforcement coupled with some sanctions will help bring operators back to the line.

If the sanction has not been consistent they will continue to do that.

 Look at what we are enjoying today, the No Premium, No Cover policy.

 I cannot believe it. Now I write N10 billion worth of business. Before now, if you write N5 billion, about 60% would be receivable and you are at the mercy of the broker. The situation has reversed. If I tell you I have written N10 billion, it is N10 billion collected.

So the problem has always been the ability to enforce those regulations.

Stock Market Statistics: Thursday, 2nd February, 2017

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NSE
Market Cap (N’bn)                8,938.5
Market Cap (US$’bn)                     29.3
NSE All-Share Index             25,936.24
Daily Performance %                  0.1
Week Performance            (1.3)
YTD Performance %                     (3.5)
Daily Volume (Million)                  151.5
Daily Value (N’bn)                       1.4
Daily Value (US$’m)                     4.5

 

Bargain Hunting in Banking Stocks Drives Index Higher …NSE ASI up 13bps
The Nigerian equities market bucked a 3-day downtrend as bargain hunting in banking stocks drove the index 13bps northwards to settle at 25,936.24 points.

Performance was driven by gains in STANBIC (+2.9%), UBA (+2.9%), ZENITH (+1.4%) and GUARANTY (+0.6%).

Accordingly, YTD loss eased slightly to -3.5%. Investors in turn gained N11.5bn as market capitalization settled at N9.0tn. However, activity level waned as volume and value traded decreased 50.3% and 12.0% to settle at 151.5m units and N1.4bn respectively.

All Indices Close In the Green Save for Oil & Gas Index
Performance across sector was broadly bullish as all indices closed in the green save for the Oil & Gas index which declined 1.6% as losses in FORTE (-9.7%) and SEPLAT (-3bps) more than offset gains in OANDO (+4.8%), while the Industrial Goods index closed flat. The Banking index gained the most, up 0.9% on account of buying interest in UBA (+2.9%) and ZENITH (+1.4%). Likewise, the Insurance and Consumer Goods indices closed 0.6% and 2bps higher consequent on gains in CONTINSURE (+4.7%), AIICO (+1.7%), GUINNESS (+4.2%) and UNILEVER (+0.8%).

Investor Sentiment Improves
Investor sentiment also improved as market breadth (advancers/decliners’ ratio) rose to 1.2x (from 0.3x yesterday) consequent on 20 stocks which advanced against 17 decliners. The top gainers were UNITYBANK (+5.0), OANDO (+4.8%) and CONTINSURE (+4.7%) while FORTE (-9.7%), UACPROP (-9.4%) and TRANSCORP (-5.0%) were the top losers. Today’s market performance was largely attributable to bargain hunters’ interest in banking stocks. We expect market to close positive tomorrow considering the cheap valuation of stocks that had declined in prior trading sessions this week. However, we expect market to close the week lower.

MatrixStream Launches MatrixCloud OTT, Empowering Roll-out in 60 Days

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MatrixStream introduces the MatrixCloud OTT solution for IPTV operators enabling end-to-end IPTV and OTT platform rollout in less than 60 days.

Operators can utilize MatrixCloud OTT to launch skinny channel bundles and subscription VOD to complement existing IPTV offerings or to release a standalone video package to bundle with high-margin broadband and wireless services.

The MatrixCloud OTT platform for IPTV and OTT operators includes the following:

  1. Operator-branded apps and clients for Android and iOS mobile phones and tablets, PCs, Macs, Apple TV boxes, Android TV boxes, Roku, Chromecast and Amazon Fire.
  2. Support for up 100 live linear channels in each 42u rack with full MatrixCloud DVR support.
  3. SaaS capacity-based pricing that delivering savings of up to 80% over typical per-user pricing and hardware service agreements.
  4. Highly-customizable, targeted advertising across all user devices.
  5. Cloud-based operator BSS and OSS with integrated voucher payment, multiple currencies and third-party mobile money support.
  6. End-to-end MatrixStream OTT IPTV solution can be deployed live in less than 60 days.

MatrixCloud OTT dramatically reduces time-to-market, even for the largest IPTV operators, enabling service providers to deploy next generation TV services as quickly as possible to increase sales from existing customers and to protect user-base from competitors choosing other IPTV and OTT platforms. In-house OTT solution rollout can add up to tens of millions of dollars or more and thousands of hours of integration across multiple hardware and software providers.

The MatrixCloud OTT platform and SaaSbased pricing is specifically designed avoid CAPEX and OPEX nightmares through a one-vendor, end-toend IPTV and OTT solution.

Tier One operators with millions of customers on many continents are already capitalizing upon Matrixstream’s years of successful IPTV and OTT solution experience to increase average revenue per MatrixStream Technologies, Inc. 303 Twin Dolphin Drive, Suite 600 Redwood Shores, CA 94065 USA user (ARPU) MatrixStream and to overcome slower-moving competitors.

In 2017 alone, Matrixstream is launching and expanding services with many of the world’s top multichannel video programming distributors (MVPDs). Take advantage of our easy, incredibly-customizable ITPV and OTT solution to generate far higher profits from existing users and reach new users with next generation TV offerings.

 

About MatrixStream Technologies

MatrixStream Technologies, Inc. is an embedded full stack technology company offering an advanced multi-screen MatrixCloud® OTT/IPTV platform for service providers, utilizing patented MatrixCast® streaming technology, that delivers true home theater 4k HD video to connected viewing audiences across millions of devices including mobiles, tablets, PCs, Macs as well as branded and third-party set-top boxes.

African Airlines Record 7.4% Growth in 2016

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The International Air Transport Association (IATA) announced full-year global passenger traffic results for 2016 showing demand (revenue passenger kilometers or RPKs) rose 6.3% compared to 2015 (or 6.0% if adjusted for the leap year).

This strong performance was well ahead of the ten-year average annual growth rate of 5.5%. Capacity rose 6.2% (unadjusted) compared to 2015, pushing the load factor up 0.1 percentage points to a record full-year average high of 80.5%.

A particularly strong performance was reported for December with an 8.8% rise in demand outstripping 6.6% capacity growth.

“Air travel was a good news story in 2016. Connectivity increased with the establishment of more than 700 new routes. And a $44 fall in average return fares helped to make air travel even more accessible. As a result, a record 3.7 billion passengers flew safely to their destination. Demand for air travel is still expanding. The challenge for governments is to work with the industry to meet that demand with infrastructure that can accommodate the growth, regulation that facilitates growth and taxes that don’t choke growth. If we can achieve that, there is plenty of potential for a safe, secure and sustainable aviation industry to create more jobs and increase prosperity,” said Alexandre de Juniac, IATA’s Director General and CEO.

December 2016
(% year-on-year)
World share¹

RPK

ASK

PLF
(%-pt)²         
PLF
(level)³
Total Market 100.0% 8.8% 6.6% 1.6% 80.6%
Africa 2.2% 5.8% 5.3% 0.3% 71.6%
Asia Pacific 32.9% 11.2% 8.0% 2.3% 80.8%
Europe 26.4% 10.7% 7.2% 2.5% 80.6%
Latin America 5.2% 5.0% 2.8% 1.7% 81.2%
Middle East 9.6% 12.9% 11.6% 0.9% 77.4%
North America 23.6% 3.1% 3.0% 0.1% 83.0%

¹% of industry RPKs in 2016   ²Year-on-year change in load factor   ³Load factor level

 

International Passenger Markets 
International passenger traffic rose 6.7% in 2016 compared to 2015. Capacity rose 6.9% and load factor fell 0.2 percentage points to 79.6%. All regions recorded year-over-year increases in demand.

  • Asia Pacific carriersrecorded a demand increase of 8.3% compared to 2015, which was the second-fastest increase among the regions. This pace is considerably ahead of the five-year growth average of 6.9%. Capacity rose 7.7%, pushing up the load factor 0.4 percentage points to 78.6%.
  • European carriers’ international traffic climbed 4.8% in 2016. Capacity rose 5.0% and despite a decline of 0.1 percentage points to 82.8%, the load factor remains the highest among the regions. European carriers particularly benefitted from an improvement in the second half of the year—passenger volumes have been increasing at an average of 15% year-over-year since June, easily compensating for a slight decline over the first six months of 2016.
  • North American airlinessaw demand rise 2.6% in 2016. Most of the growth occurred in the second quarter, and traffic has been strongest on Pacific routes. The North Atlantic, by contrast, has been fairly flat. Capacity rose 3.3%, reducing the load factor by 0.5 percentage points to 81.3%.
  • Middle East carriershad the strongest regional annual traffic growth for the fifth year in a row. RPKs expanded 11.8%, consolidating the region’s position as the third-largest market for international passengers. Capacity growth (13.7%) continued to outstrip demand, with the result that the load factor fell 1.3 percentage points to 74.7%.
  • Latin American airlines’traffic rose 7.4% in 2016. Capacity rose 4.8% and load factor strengthened by 1.9 percentage points to 81.3%. International traffic from Latin America remains very healthy despite some economic and political uncertainty in the region’s largest market, Brazil.

African airlines had their best growth performance since 2012, up 7.4%. Growth is being underpinned by strong demand on routes to/from Asia and the Middle East. Capacity exactly matched demand, with the result that the load factor remained flat at 67.7%.