Standard Chartered Mobile Banking Targets 1m in Nigeria, Others

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02/06/2016

Standard Chartered Bank is bringing its newest mobile and online banking platform to 1 million clients across 8 African markets, the most extensive digital rollout of its kind in Africa by an international bank. Supported by the Bank’s global-standard technology, clients will enjoy a consistent online experience across laptops, tablets or mobile phones, and the convenience of banking from the location of their choice. After the rollout to Botswana, Ghana, Kenya, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe in the first half of 2016, the Bank will launch fingerprint recognition technology in these markets later in the year, giving clients a more secure and convenient way to log in to their accounts.

“We’re bringing the best in mobile banking to Africa – consumers across the continent are increasingly affluent and tech-savvy and they want convenient access to their bank, wherever they happen to be,” said Karen Fawcett, Standard Chartered’s CEO for Retail Banking. “Africa is important to Standard Chartered and this launch is another demonstration of that.”

“We are committed to making banking easier, faster and safer for our more than 1 million retail clients across Africa,” commented Jaydeep Gupta, Standard Chartered’s regional head of Retail Banking for Africa and the Middle East.

“This multi-country roll-out is in line with our promise to bring world-class products and functionality to Africa, consistent with the trends and progress we are making in our international markets in Asia and the Middle East. By early next year, we expect at least 35% of all client transactions to be done through online channels; significantly advancing the transformation of banking in Africa.”

The launch is central to Standard Chartered’s strategy of using digital technology to deliver the future of banking to clients in Africa. The Bank last year announced it will invest $1.5bn in technology globally over three years.

With Africa’s mobile penetration estimated to be around 67%, the launch brings Standard Chartered Mobile, Standard Chartered’s mobile banking application to Botswana, Kenya, Uganda, Tanzania, Zambia and Zimbabwe for the first time.

In Nigeria and Ghana, mobile banking clients will move to the Bank’s standard global platform. Through Standard Chartered Mobile, clients can check balances, transfer money and pay bills securely, all through their smartphones.

Standard Chartered is also upgrading its online banking platform in these eight markets, so clients will benefit from improved navigation and user-friendly interfaces on the Bank’s websites.

Clients will soon be able to use a new self-service option for wealth management that lets them set up their investment profiles online and find out which products are most suitable by answering a series of questions on their financial position, investment objectives and risk tolerance.

Overall, clients will enjoy a consistent mobile and online banking experience: usernames and passwords, beneficiaries, standing instructions and bill payees are replicated across both channels. Paying bills is easier too as the revamp comes with an expanded list of utility companies, cable TV and internet providers.

Bringing the Future of Banking to Africa – This online and mobile banking platform puts Standard Chartered at the forefront of digital banking technology in Africa and the first international bank to extend a brand-new global platform to eight countries in one rollout.

In Kenya and Nigeria, the bank also recently launched the Retail Workbench, a tablet-based sales-and-service tool that “brings the bank to clients.” Retail Workbench allows sales staff can open an account for a client in any location and makes banking services like loan approvals and credit card issuance fast, simple and completely paperless. Zimbabwe and Zambia have also launched digital branches, revolutionising traditional branch formats.

Standard Chartered’s retail banking business serves the banking needs of nearly 10 million individual and business clients across more than 30 markets in Asia, Africa and the Middle East, through more than 1,000 branches, 5,000 ATMS and a range of digital and staff-assisted channels.

In 2015, Global Finance named Standard Chartered the World’s Best Consumer Digital Bank and Best Regional Consumer Digital Bank for Africa and the Middle East.

Internet Society Tasks African Policymakers on Opportunity

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02/06/2016

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The Internet Society will call for the adoption of policies and frameworks that expand access and create greater demand for the Internet during the 4th Annual Africa Internet Summit (AIS) in Gaborone, Botswana from 29 May – 10 June, 2016.

Urging policymakers to grasp the opportunity offered by the expansion and growth of the Internet across the continent, the Internet Society will advocate for greater collaboration by all Internet decision-makers in creating an accessible, trusted Internet that benefits all Africans.

The African Internet Summit brings together the Information and Communications Technology (ICT) business and technical community to discuss current Internet issues and challenges. Among the challenges that the Internet Society will address is the need for a policy framework to further Internet development throughout the region.

Rapid urbanisation, increased consumer spending power and international investments have fueled economic development in Africa over the past decade, resulting in some of the highest GDP growth rates in the world. Africa has also achieved major strides in Internet access with close to a third of the population connected.

“Africa sits at a tipping point for Internet expansion and the continent is poised to help drive growth of the global Internet. But to make the opportunities for social and economic gains a reality, it is paramount that the right policies are in place,” explains Dawit Bekele, Africa Regional Bureau Director for the Internet Society.

“Policymakers have a critical role to play in creating an environment that enables investment in Internet infrastructure and ensures that the Internet is used to address Africa’s development challenges,” he added.

In addition to urging policymakers to act, the Internet Society will shine a light on digital trailblazers during a “Connected Women in Africa” panel session on June 6th.

The session explores how to get more women involved in developing and using Internet technology across Africa, as well as highlighting women who are already bringing about significant change through their work with the Internet.

Kathy Brown, President and CEO of the Internet Society will lead a panel discussion that features women voices including Agang K. Ditlhogo, co-founder of The Clicking Generation, a start-up that offers computing and technology curriculum to under-privileged children in rural areas in Botswana.

Also on the panel is Dorcas Muthoni, an inductee of the Internet Hall of Fame and a computer scientist from Kenya who founded a software company that is now a leading e-Government and Business Software Services firm in East Africa.

“Increased connectivity brings with it a new generation of digital entrepreneurs. We want to encourage and inspire others by highlighting women who have overcome barriers and paved the way forward for the Internet in Africa,” said Kathy Brown, President and CEO of the Internet Society.

Malta to Chair 2016 Commonwealth ICT Ministers Forum

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02/06/2016

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Engr. Shola Taylor, Secretary-General of the Commonwealth Telecommunications Organisation (CTO) met with the Honourable Dr. Emmanuel Mallia, Malta’s Minister for Competitiveness and Digital, Maritime and Services Economy in Valetta, Malta last Saturday to discuss the CTO’s strategic plan and the upcoming Commonwealth ICT Minister’s Forum 2016 taking place in June, and also the CTO’s 2016-2020 Strategic Plan.

They were joined by Dr. Edward Woods, Chairman of the Malta Communications Authority (MCA) and Steve Agius, Chief of Information and Development at MCA.

Discussions about the forthcoming Commonwealth ICT Ministers Forum focused on the final preparations for the biennial event.

“The Maltese government deems Information and Communication and Technology (ICT) as a key enabler for the advancement of member countries. It is a tremendous privilege for Malta and me personally to chair the closed door meeting at the Commonwealth ICT Ministers Forum in London,” said the Honourable Minister.

During the visit, Taylor also presented on the CTO’s new Strategic Plan for 2016-2020 to the Maltese officials.

Woods commended Taylor on the Plan and expressed the regulator’s interest in assisting the CTO with its implementation.

“The MCA has a strategic role in achieving widespread e-literacy, digital inclusion and the use of ICT as a tool to improve quality of life for everyone, especially disadvantaged groups. We are, therefore, in a position to share our own experiences in many of areas of the CTO’s strategic plan.”

About the Commonwealth Telecommunications Organisation
The Commonwealth Telecommunications Organisation (CTO) is the oldest and largest Commonwealth intergovernmental organisation in the field of information and communication technologies.

Although our history can be traced back to 1901 with the establishment of the Pacific Cable Board, the organisation has only existed in its present form as an intergovernmental treaty organisation since 1967.

With a diverse membership spanning developed and least developed countries, small island developing states, and more recently also the private sector and civil society, the CTO aims to become a trusted partner for sustainable development for all through ICTs.

‘Connected Industries Vulnerable to Cyber-attacks, Liability Risks’

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02/06/2016

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Three utilities companies in the Ukraine, the Israel National Electricity Authority and most recently a German nuclear power plant have suffered cyber-attacks in recent months.

As energy, transportation or telecommunication companies, but also the manufacturing sector, become more reliant on automation, robot technologies and digital networks of connected devices, they are also increasingly vulnerable to cyber-attacks.

Rather than stealing data, cyber-attacks against critical infrastructure and manufacturers are more likely to target industrial control systems (ICS) to manipulate or shut-down operations.

The current issue of Global Risk Dialogue, the Allianz Global Corporate & Specialty (AGCS) magazine about corporate risks and insurance, focuses on how increasing cyber risks for utilities, networks and smart factories can be mitigated.

There is growing concern about the vulnerability of ICS,which are used to monitor or control processes in industrial and manufacturing sectors.

For example, there were 295 recorded ICScyber incidents in the USlast year – up 20%[i].Acyber-attack against an ICS could result in physical damage, such as a fire or explosion, as well as business interruption (BI), says Nigel Pearson, Global Head of Fidelity, AGCS. “A number of ICS still used by manufacturing and utilities companies today were designed at a time before cyber security became a priority issue.” In addition, ICS are also vulnerable to both technical failure and operator error which can be much more frequent and severe in terms of impact and are often not captured in cyber reports.

Smart Factory Opportunities and Risks
While ICS are a particular issue for the utilities sector, similar cyber-related physical damage and BI risks exist in manufacturing. So-called smart factories of the Industry 4.0 era heavily rely on automation, robots and connected supply chains. From an insurer’s perspective, this brings new risks as well as opportunities.

“Continuous monitoring and predictive maintenance of automated production lines will reduce small scale frequency losses and increase equipment lifetime,” explains Michael Bruch, Head of Emerging Trends, AGCS.

“Supply chains will bebetter monitored, more predictable and visible with improved tracking options and losses reduced from spoilage or expiration.”

However, interconnectivity of supply chains and production processes will increase cyber vulnerability, especially as security flaws built into embedded software code are difficult to detect.

“Overall loss potential is rising significantly, creating high accumulation potential with larger and more complex claims,” Bruch explains.

Should a robot be hacked or suffer a technical fault, a production line could be interrupted for hours or days, at a potential cost of tens of millions of dollars per day. If an algorithm is wrong or IT systems go down, global supply chains could be severely disrupted and losses could spread across regions and industries. Meanwhile, new technology could raise liability issues.

For example, claims may be leveled against the developers and vendors of predictive maintenance software in cases where injury occurs.

How can increasing cyber risks in the industrial sector be efficiently prevented and mitigated? “While there is no such thing as 100% security, a comprehensive cyber and IT risk governance strategy involving various corporate functions is necessary to successfully combat cyber risks,” says Jens Krickhahn, Cyber Insurance Expert at AGCS Central and Eastern Europe. “High technical IT security standards of networks, software and mobile devices, staff awareness trainings, continuous process optimisation and rigid management of access rights and guidelines must go hand in hand. To manage the residual risks, cyber insurance is becoming a core element of IT risk management for many companies.”

Refining Existing Risk Services
In future, digitalisation will also shift the nature of corporate assets from mostly physical to increasingly intangible. Brand value and reputation, as well as intellectual property, technological know-how and supply chain networks, will become more important assets. Bruch adds:

“Coverage for a company’s factory will increasingly demand cyber, reputational and specific non-physical damage BI covers to adequately protect intangible assets. Refining existing and developing new risk services beyond the traditional is key for both insurers and businesses to prepare jointly for the next industrial revolution.”

To mitigate supply chain risks in the digital era, for example, providing a risk solution is more than just an insurance policy, but rather a bundle of services including risk analysis, benchmarking and mitigation advice that can help analyse quality and resilience.

“We can provide company-specific scoring for suppliers locations and benchmark this for a given industry”, explains Volker Muench, AGCS Global Property Practice Group Leader.

“The more information we have, the better we can model and monitor exposures and be in a position to offer higher limits of insurance coverage.”

FOR THE RECORD

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02/06/2016

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Address by Prince Julius Adelusi-Adeluyi, OFR, mni, Chairman, MTN Nigeria Foundation, at the launch of MTN Foundation ‘What Can We Do Together’ Phase 2 at Civic Centre, Victoria Island, Lagos, on Tuesday, May 31, 2016.

On behalf of the MTN Nigeria Foundation Board of Directors, it gives me great pleasure to welcome you tothe MTN Foundation “What Can We Do Together” Nominators’ Appreciation Party herein Lagos.

This initiative was originally conceived as part of activities marking our tenth anniversary. It has now grown to become another MTN Foundation success story and we are very pleased at the way it has been embraced by the public.

Under the first phase of this initiative, we received over thirty seven thousand nominations from people seeking to help their communities in the best possible way. Following an objective and rigorous selection process, the MTN Foundation team and its partners were able to successfully complete 200 projects in 200 communities nationwide in just 5 months.

I would like to commend the Executive Secretary and the MTN Foundation team for their passion and dedication, and for ensuring that all these projects were completed within the shortest possible time.

Behind every completed project lies a story of real people, real communities and real needs.

For instance, Alaguntan CDA community in Alimosho Local Government area in Lagos State, was in need of electricity,having been in darkness for months. One of the residents, Olanrewaju Ogundeyi, heard of the What Can We Do Together initiative and decided to take matters into his own hands. He nominated his community for a transformer. Today, that community is one of 20 communities that have received a fully functional 500KVA transformer.

In Osun State, the residents of Igbalaye/Olayiwolacommunity in OsogboLocal Government area were in great need of clean drinking water to reduce the growing cases of waterborne diseases.

One of the indigenes – Olanrewaju Oladosu– heard about the ‘WhatCanWeDoTogether’ initiative on radio and he quickly nominated his community. The rest, as they say, is history.

Today, Igbalaye/Olayiwola community is one of the 20 communities where a borehole was constructed with a 500-litre overhead tank and 10 KVA Generator provided.

Ladies and Gentlemen, for their partnership and trust, I would like to ask that you join me in giving a big round of applause to celebrate all the nominators.

There are many more examples across the country, and they speak to our desire to be a brand that cares; one that is committed to empowering our communities in ways that improve the quality of life of the residents.

Distinguished Ladies and gentlemen, it would interest you to know that the Phase 2 of this exciting initiative is already under way.

So I urge you to nominate a community today: Send ‘MTN Foundation’ via SMS to 321. The SMS is FREE!

At the MTN Foundation, we remain committed to improving the quality of life in our communities. Indeed, since inception, the MTN Foundation has invested over N18 billion to execute various projects in 550 locations across the 36 States and the Federal Capital Territory of Nigeria.

In conclusion, I would like to thank all MTN customers whose patronage forms the bedrock of the financial support we receive from MTN Nigeria.

Every MTN customer rightly deserves credit for all that the Foundation has achieved and they can all look upon this Foundation with a sense of pride.

I also thank members of the media for your unending support for all our activities.

Finally, I thank everyone present here today, for taking the time to be here. I wish you all a safe journey back to your respective destinations.

Thank you for your attention.

‘CHANGE’: One Year of Buharinomics! – Executive Summary

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30/05/2016

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One year into the transition from President Jonathan to the Buhari-led administration, the burden on Government remained the need to rejuvenate the Nigerian economy which has suffered from the declining global oil prices, poor governance structure, sub-optimal fiscal crisis and monetary policy actions.

Recent domestic macroeconomic numbers have suffered from both global and domestic shocks which currently threaten the economic fundamentals of the country. The recent data published by the National Bureau of Statistics (NBS) reflects the impact of the delayed budget passage as well as the weak monetary policy response on macroeconomic aggregates.

The significant drop in government revenue and lower allocation to Sub-Nationals bites harder, pushing many States to the edge of a fiscal crisis with most unable to pay workers’ salaries for more than 3 months.

However, many view the implementation of the 2016 budget as a catalyst for reflating the economy and resetting it on a growth pedestal.

According to the NBS, Real GDP contracted 0.36% in Q1:2016 dragged by declines in the manufacturing and key services sector components.

Similarly, unemployment rate in Q1:2016 worsened to 12.4% from 10.1% in Q4:2015 as total number of people in full time employment decreased by 528,148 within the quarter and about 1.5m people joined the labour force. Inflationary pressures continued unabated rising to 13.7% in April 2016 (from the 12.8% in March 2016) due to cost push factors which impacted on most components of the Consumer Price Index (CPI).

Thus, Nigeria’s mystery index also rose to 24.9% in Q1:2016 from 20.0% in Q4:2015. Pressure on external reserves (declined 8.6% YTD) continued relentlessly despite controls introduced by the CBN. Parallel market FX rate has depreciated 24.0%YTD due to control measures in the official market.

Thankfully, the Monetary Policy Committee (MPC) took a major move during the week in voting for the adoption of a flexible FX rate regime, though with a “small window” to cater for critical transactions. Nonetheless, the lack of economic impulse from the fiscal space for most of H1:2016 signals that the economy already nears a recession.

The Buhari-led administration sought to employ a new approach to budget formation and implementation in a bid to hasten infrastructural development and reflate the economy. The 2016 Budget adopted a zero-based budgeting system, a move from incremental budgeting system. Hence, the 2016 Appropriation Bill tagged “the Budget of Change” was characterised with cocktail of controversies leading to late passage and signing by the President.

Nonetheless, the structure of the 2016 budget is a significant deviation from the previous years as the anticipated revenue was less tilted towards oil receipts (21.2%) and more skewed towards tax revenue as well as intensified efforts to reduce leakages across Ministries, Departments and Agencies (MDAs).

On the back of the huge infrastructure deficit which has hampered growth and constrained business activities, the government increased allocation for capital expenditure from 11.0% in 2015 to 28.8% in 2016. Worthy of note is the special intervention programme on social safety nets (N500.0bn or 8.0% of total expenditure) to ensure an inclusive growth in 2016.

Whilst we hold the view that the 2016 budget has the potentials to reflate the economy if properly implemented, the required funding of the budget for optimal performance could be a drag.

We note that the specific provisions for capital spending will boost infrastructure projects and investments while the recurrent expenditure would have a multiplier effect on private consumption expenditure component of the GDP.

We think the fiscal deficit may exceed the 2.2% level projected for 2016 owing to pipeline vandalism which has lately hampered production.

We see the recent liberalisation of the downstream petroleum sector and the interbank foreign exchange market as a seeming synergy of fiscal-monetary policy synchronisation, but amidst the various macro-economic constraints, we ask; how much can the “budget of change” achieve?

– Afrinvest Research

MTN Plans $96m Network Upgrade in Ghana

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30/05/2016

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MTN Ghana will this year, proceed to the modernisation of its telecom network and improve the quality of the services it provides its users across the country.

In order to achieve this, the telecom firm plans to invest $96 million which will be divided in three. $62 million will be spent to modernize and extend the network, $16 million will be used to develop technological services and the remaining $18 million will serve to deploy 4G LTE.

Though holding the biggest share (46.89%) of the Ghanaian market, ahead of Vodafone who comes second with 21.95%, MTN Ghana would like, through its investment, to improve population’s access to its services.

By meeting the growing demand for data and providing its services to secluded rural areas, MTN Ghana will become a true reference in the country and boost its revenues.

Keep providing its users an excellent telecom experience-such is MTN Ghana’s strategy to remain on top permanently in the extremely competitive local market, where it rivals Vodafone, Tigo, Airtel, Globacom and Expresso.

Afreximbank Raises $750m via Eurobond Issue

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30/05/2016

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Afreximbank Raises $750m via Eurobond Issue

African import-export bank Afreximbank has announced in a statement that it has, on May 17, 2016, in London, raised $750 million after issuing a Eurobond. The 5-year bond has a 4% interest rate.

The fundraising comes few weeks after Afreximbank’s President, Benedict Oramah, announced the issuance of Eurobonds to finance part of $3 billion required to fund the bank’s activities in 2016.

Oramah also said that his institution would explore syndications, institutional and bilateral loans. The same stands for local-currency-bonds which will be issued in the last quarter of 2016, for no more than $200 million.

One of the aims of the pan-African bank with this fundraising is to reinforce its support to member-countries.

To this end, Afreximbank is looking to increase its deposits to these countries respective central banks, eying $10 billion against $3 billion presently.

Commonwealth ICT Minister Forum Opens June 14

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30/05/2016

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At their first biennial Commonwealth ICT Forum held in March 2014 in London, ICT ministers of Commonwealth countries mandated the CTO to lead in the following areas:

· Supporting broadband national policies and plans
· Promoting ICT applications in areas such as education, health, and agriculture
· Providing greater coordination of Commonwealth countries’ positions and secure consensus on key international issues i.e. radio spectrum, standards, and Internet governance.

The Commonwealth ICT Ministers Forum 2016 will focus on addressing emerging issues, such as:

· Improving national regulatory environments
· Challenges in achieving universal broadband access
· Opportunities in spectrum management after WRC’15
· Emerging e-applications
· Internet of Things and its policy and regulatory implications
· Cybersecurity and the Sustainable Development Goals
· Internet governance

This year’s event is specifically designed to allow wider participation from industry, civil society and academia, as follows:

· 14 June 2016: Closed-door Ministerial Meeting followed by the 2016 Commonwealth ICT & Industry Awards.
· 15 – 16 June 2016: Open Forum with industry, civil society and academia.

This is a unique opportunity to understand and influence policy and regulatory considerations in over 40 countries at a single event.

Your registration will include the Commonwealth ICT & Industry Awards on 14 June (evening) as well as Open Forum on 15 – 16 June 2016.

About the Commonwealth Telecommunications Organisation
The Commonwealth Telecommunications Organisation is the oldest and largest Commonwealth membership organisation in the field of Information and Communication Technologies (ICTs), and uses its experience and expertise to support members in using ICTs to deliver effective development interventions that enrich, empower, equalise and emancipate people within the Commonwealth and beyond.

Ghana Hosts Africa Funds, Asset Management Forum

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30/05/2016

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The Africa Investment Funds and Asset Management – West Africa Regional Forum is scheduled for the 27th & 28th of July 2016 in Accra, Ghana.

The Africa Investment Funds and Asset Management (AIFAM Forum) convenes regional capital owners (pensions, sovereign funds, insurers, central banks etc.), fund managers, and investment professionals from the continent to meet with institutional investors and other stakeholders who are interested in opportunities on the continent.

The meeting is an invitation-only session on developing viable financial products/structures that can increase the availability of capital to invest in the continent’s infrastructure, deepen capital markets innovation and mainstream investing alternative asset classes.

We are taking this events across targeted regions in Africa, this approach is design to gather all the important aspects around pension funds investment in each of the countries falling within a specific region and then in November we will gather in Ethiopia for the main event, where we are already inviting key stakeholders from across the globe to converge for two days and hold dialogues that will continue to pave way for economic development in Africa.

Some of our confirmed Speakers include:

Dr Johnson P. Asiama, Deputy Governor – Bank of Ghana
Kofi Anokye Owusu-Darko, Chief Executive Officer – National Pensions Regulatory Authority
Waheed Qaiser, President – MaximLLP UK
Langalakhe Dlamini, General Manager: Business Development & Finance –Swaziland National Provident Fund
Busisa Jiya, Managing Director – Jiya Africa Asset Managers
Alex Burn, Partner, Malczynski Burn Risk Management
Xolisa Dlamini – Industry Expert (Independent Consultant)
Dharmesh Dayal, Business Development Executive – Old Mutual Investment Group

‘We have been delighted to work with a wide range of partner organisations during the course of the past months in researching and developing this unique forum.

We value such collaborative partnerships greatly as providing the opportunity to share resources and ideas and to bring together a range of different perspectives to help produce this thought-leading forum.

We are looking forward to what should be the most interesting and informative gathering of policy-makers, investment funds, corporate and investment professionals in West Africa.’

Intra-Africa Trade Set for Greater GDP Growth

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30/05/2016

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As growth in developed markets such as Europe, China and North Africa continue to stagnate, greater regional integration in Africa, amongst all role players, is needed to capitalise on the continent’s growth potential.

This is according to Hennie Heymans, CEO of DHL Express Sub-Saharan Africa who says that when comparing intra-regional trade statistics, Africa’s rates are amongst the lowest in the world, with less than 20% of what is produced in the region, remaining on the continent.

“This, in essence, means that over 80% of what is produced in Africa is exported, mainly to the European Union, China and the United States.

In comparison, over 65% of Europe’s trade occurs on its own continent, and in North America, the figure is around 50%(1),” says Heymans.

According to the latest IMF April 2016 World Economic Outlook report, developing economies and emerging markets will continue to account for a large portion of the world’s economic growth in 2016, which is expected at a rate of 3.2%.

The report also reveals that growth in sub-Saharan Africa is also expected to remain low this year, at 3%, down 0.4% from 2015.

“Sub-Saharan Africa’s dwindling growth is influenced by factors such as slowed, moderate growth in advanced markets such as China, as well as the downward revision of growth for the region’s oil-exporting countries.”

Heymans says that intra-African trade has enormous potential to catalyze investment and foster growth on the continent.

“To ensure that Africa is equipped to maintain and exceed its growth trajectory of 4% in 2017(2), business leaders, the government and the community need to work together towards making Africa an easier place to do business and to stimulate trade between the various African countries.”

“Trade blocs such as SADC (Southern African Development Community), EAC (East African Community), ECOWAS (Economic Community of West African States), all promote cross-border trade and are focused on facilitating trade and reducing bureaucracy within the region.

However, more needs to be done to connect and encourage the movement of goods, services, people and capital across borders in Africa.

The World Bank recently reported(3) that intra-African trade costs are estimated to be approximately 50% higher than in East Asia due to the number of permits required when transporting goods across certain borders, or the fees payable for prolonged waiting periods at the border.

Another issue is the varying de minimis values across the region. In Angola for example, the de minimis value is $350 (if imported via Luanda) while in Zimbabwe, the de minimis is $10. The varying values can often make it difficult for companies to plan market expansion strategies in Africa.

On the contrary, a new law in the United States has simplified shipping to the U.S. by raising the import de minimis limit from $200 to $800, which means that goods below $800 will not require formal customs procedures and will not be liable for duties or taxes.

Heymans says that in light of poor global growth forecasts, the biggest game changer for Africa going forward will be its ability to boost connectivity and intra-Africa trade.

“The government and the private sectors need to continue to work together to create a sustainable and inclusive environment, and work on solutions to make it easier for African businesses to conduct business within their local and regional environment,” concludes Heymans.

Huawei Sues Samsung over Patent Infringements

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30/05/2016

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China’s Huawei has launched a series of lawsuits against Samsung in China and the USA alleging the company has infringed on its patents.

Huawei alleges a number of patent infractions, including the use of its 4G technologies in Samsung smartphones.

“We hope Samsung will stop infringing our patents and get the necessary license from Huawei, and work together with Huawei to jointly drive the industry forward,” says Ding Jianxing, President of Huawei’s Intellectual Property Rights Department in a statement.

Huawei claims that Samsung violates 11 standard-essential patents that it has filed.

The lawsuits were filed in U.S. Federal Court in California and in Shenzhen, the Chinese city where Huawei is based.

8.1m people work in Renewable Energy Industry Worldwide

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30/05/2016

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8.1 million people work in the renewable energy industry. This is 5% higher than in 2015.

This was revealed by the International Renewable Energy Agency (IRENA) in a report entitled “Renewable Energy and Jobs – Annual Review 2016”.

“The continued job growth in the renewable energy sector is significant because it stands in contrast to trends across the energy sector,” said IRENA’s Director-General, Adnan Amin.

Solar photovoltaic energy is the leading employer with 2.8 million jobs divided in production, installation, exploitation and maintenance of the related plants. Next is liquid biofuels which employs 1.7 million people. It is followed by hydropower (dams with more than 10 MW of capacity) with 1.3 million jobs and the wind energy, fourth employer with 1.1 million jobs.

The trend is sustained by the decreasing costs used to implement these technologies and should continue like that given the global goals set for climate worldwide. As the on-going energy transition accelerates, growth in renewable energy employment will remain strong, said IRENA’s director.

In 2015, renewable energy grew by 8.3% with 153 GW developed across the world, a record.

– Gwladys Johnson

Apple Eyes 4,000 Indian Experts to Boost Maps Service

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30/05/2016

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Apple has opened a new office in Hyderabad that will focus on development of Maps for its products. The company said that the investment will accelerate Maps development and create up to 4,000 jobs.

“Apple is focused on making the best products and services in the world and we are thrilled to open this new office in Hyderabad which will focus on Maps development,” said Tim Cook, Apple’s CEO.

“The talent here in the local area is incredible and we are looking forward to expanding our relationships and introducing more universities and partners to our platforms as we scale our operations.”

Apple has been continually updating and adding new features to Maps, including 3D views, the Flyover feature and tools to help customers find convenient places to shop, eat and explore nearby areas. With iOS 9 Apple added Transit, offering a combination of trains, subways, buses and walking, which is already available for more than 300 cities around the world.

The new facility, located on the Waverock campus, will provide a LEED-certified home for the expanding Maps team.

“We are honored Apple chose Hyderabad as a home for its Maps development office,” said Telangana Chief Minister Kalvakuntla Chandrashekar Rao. “This will create thousands of jobs here and is a testament to our proactive approach, quality infrastructure and the excellent talent base we have in the region.”

TMT, IHS Towers Plan Finance Africa Summit in Lagos

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30/05/2016

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TMT, IHS Towers Plan Finance Africa Summit in Lagos

TMT Finance the global telecom investment news and events provider, and IHS Towers, the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East, have announced the launch of the inaugural TMT Finance Africa in Lagos, Nigeria Conference on September 20, 2016.

The conference will gather key leadership from telecom, media and technology companies, global and regional financial institutions, government representatives, investors, professional and legal advisers to assess the best opportunities for co-investment and partnership across the Africa.

“We are delighted to partner with TMT Finance for this event which will bring key telecom, media and technology focused international institutions and investors to Lagos,” said IHS Towers Co-founder and Interim IHS Nigeria CEO Mohamad Darwish. “Nigeria, being Africa’s largest economy, has always been a large hub for investments into Africa, and this Lagos event is proof of this continued phenomenon. As telecommunications, media and technology continue to converge, sustaining investment in development is critical to the sector. We hope that this conference will create a valuable platform for all players in the region to contribute to an exchange of ideas.”

“We are excited to have the opportunity to partner with IHS, and bring the conference series and our global network of industry and finance executives to Lagos for the first time,” said Dominic Lowndes, Managing Director of TMT Finance.

“Lagos has become a critical hub for investment in telecoms infrastructure and services across Africa and the event will assess some of the most exciting opportunities for partnership and investment worldwide.”

Over 20 speakers have already been announced for the event, including key C-level financial decision makers from MTN, Bharti Airtel, IHS Towers, MainOne, Standard Bank, IFC World Bank, First Bank Nigeria, Africa Internet Group and Access Bank.

In total, over 50 key speakers will be announced, including leading regional telecom and tech CEOs, CFOs and Strategy Heads, Regulators, Policy Makers, Global and Regional Heads of leading financial institutions, investors and advisers. The agenda will feature a series of Leadership Panels, Peer to Peer Round Tables, Keynotes and Breakout Networking session.

Key session themes announced include: Telecom Leadership Africa: Broadband Infrastructure Investment; Digital Africa; Mobile Infrastructure Strategies; Mergers and Acquisitions; Private Equity Africa Roundtable; Regulation and Policy; Financing Telecoms; Broadband Infrastructure; Investing in Mobile Data and Services; Mobile Banking, Fintech and M-Health; and Media and Convergence.

“We are inviting companies and representatives from across the region, as well as global players, to participate and we encourage local players to contact us if they would like to take part,” said Lowndes. “We will announce the first round of key speakers in May.”

TMT Finance events provide a unique platform for facilitating dialogue between leading industry executives and the global financial and advisory community.

Speakers and delegates are telecom, technology and infrastructure CEOs, CFOs, CSOs, MDs and Heads of M&A, investment banking heads, private equity investors, government representatives, regulators and specialist legal and strategic advisers and thought leaders.

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