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March Headline Inflation Surges to 12.8%, 44-Month High

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African Capital Markets

The National Bureau of Statistics (NBS) released the Consumer Price Index (CPI) figures for March 2016 yesterday with the major Headline Index and Sub-indices trending higher.

March Headline Inflation – measured Year-on-Year (Y-o-Y) was estimated at 12.8%, 1.4% higher than 11.4% reported in February. Headline inflation has continued on a steady rise since December 2014 (8.0%) with the only moderation in October 2015.

The current inflation level is the highest recorded since August 2012 (11.7%). According to the NBS report, the acceleration in March CPI growth was driven by faster growth rates across all divisions save for the Restaurants and Hotels division which increased at a slower pace Y-o-Y for the second consecutive month.

In the same vein, the Food sub-Index (Farm Produce and Processed Foods) rose 12.7% Y-o-Y and the Core sub-Index (All items less farm produce) grew by 12.2% Y-o-Y relative to 11.0% growth in February.

Food Inflation at 3-Year High of 12.7% Y-o-Y, Increased by 2.3% M-o-M
The food sub-index grew at a faster pace for the 5th consecutive month as higher transportation costs, which can be broadly attributed to the recurring fuel scarcity, coupled with seasonal changes as well as the lingering foreign exchange challenges, pressured food prices higher in the month under review.

The FX pass-through is evident in the 15.1% Y-o-Y and 2.6% M-o-M growth in Imported Food index. The Food index rose 12.7% Y-o-Y which is the highest level since May 2012 (12.9%), 1.4% higher than 11.4% recorded in February and also grew 2.3% M-o-M.

The fastest increases were recorded in the Fish, Bread, Vegetables and Cereals groups for the 3rd consecutive month.

The current pressures facing food prices are expected to persist on account of 1) effect of the start of the planting season and 2) higher prices of imported food items driven by overhanging Forex challenges.

Core Inflation Rate up 1.2%settling at 12.2%
The Core index rose to a 3-year high of 12.2% Y-o-Y from 11.0% recorded in February but slowed to 1.9% M-o-M from 2.7% in February.

The rise in core inflation is also linked to the Forex issues which have driven importation costs of both food and non-food items northwards as well as the scarcity of petrol which persisted through the month and lower base impact of the adjustment of electricity tariffs done in February.

All key divisions under the core sub-index increased at a faster pace except the Restaurants and Hotels division which slowed for the 3rd consecutive month (from 9.0% Y-o-Y in January to 8.7% in March).

The fastest increases were recorded in the Imported Food and prices of Energy & Utilities – Housing, Water, Electricity, Gas and Other Fuel division – which rose 15.1% and 15.9% Y-o-Y; 2.6% and 2.2% M-o-M respectively.

The Inflation expectation of Core Index is equally elevated given lower base impact of higher electricity tariffs implemented in February and subsisting supply constraints in the FX markets.

Implications and Expectations
Although the recorded higher headline and sub-indices inflation level for March is in line with our expectation for the month, but broadly lagged analysts’ forecasts. We reiterate that the current inflation trend remains primarily driven by cost–push factors.

However, the surprising twist in monetary policy objectives to inflation-targeting at the last MPC meeting and aggressive OMO mop-ups raise further questions on the potency of the tools currently being deployed in taming inflationary pressures.

Moreso that the only potential benefit of the current tightening of policy – increase in portfolio capital inflows – is being undermined by subsisting capital controls in the FX market and weak fundamentals of companies due to low productivity and energy shortages.

These have combined to weaken overall sentiment of investors in the capital market. The Minister of Finance and the Central Bank Governor have repeatedly mentioned plans to reform the FX market and we do not expect any major reaction by the CBN to the data until such plans are communicated. Regardless, we think investors in the fixed income market will continue to price-in tighter monetary policy expectations (especially via OMO instrument) into valuation.

Will Africa be Digitally Relevant in Next 10 Years?

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By 2025, jobs which were common place in 2015 will no longer exist. Students graduating in 2016, will have obsolete qualifications for which there will no longer be a profession by 2025.

Front-line military personnel will be replaced with robots
Private bankers and wealth managers will be replaced with algorithms
Telemarketers, data entry capturers, tax preparers, lawyers, accountants, actuaries, statisticians and consulting engineers will be replaced with Artificial Intelligence (AI).

New business models, like those of Uber and Alibaba, are already industry-shaping disruptors, and each day, new Digital innovators are emerging to cause disintermediation and disruption across every industry imaginable.

Traditional enterprises, whilst presently successful by today’s standards, are scrambling to make sense of Business Digitisation in order to stay relevant in the Digital future. Many are attempting to create new Digital business models which will eventually cannibalise their traditional business, rather than capitulating to new disruptive Digital start-ups. Companies are also digitising their products and services, along with operational processes and customer channels.

Over 70% of top fortune 500 companies have plans to offer their products as a Digital service by 2020. Presently, the 10 most valuable start-ups globally are estimated to have a value of $172.7 billion – all embracing Digital platform based business models. Around 90% of the business models in 2020 will be driven by the cloud.

Globally, the number of connected devices will nearly quadruple by 2025, significantly altering the skills employers hold most valuable. Increasing connectivity will change how employees choose to work (for example: remotely, part-time, independently, or dispersed), and provide employers with a spectrum of hiring options.

Millennials, most of whom are Digital Natives, will comprise an estimated 48.3% of the global labour force in 2025, while those aged 60 and older will comprise 9.9% (compared with 7.9% in 2015).

The line between what has traditionally been business and IT is becoming more and more blurred. Largely due to the early adoption and impact of Digital marketing, The Chief Marketing Officer or CMO, now controls a bigger “IT” budget and influence than the CIO. This is only set to increase and expand across the organisation, as Digital Natives become future business leaders.

What new skills and expertise will be required to lead and manage the Digital enterprise of the future?

As robots, AI and Digital algorithms continue to replace many jobs and professions; new and emerging professions by 2025 will focus more on human interaction, augmented through Digital mechanisms. Jobs requiring uniquely human characteristics, such as cultural deftness, caretaking, or empathy, and creative thinking, are those least threatened by automation.

The ability to work anywhere, anytime is fuelling the Digital nomad trend, which is highly appealing to millennials, but will also blur political and economic boundaries, and test national labour codes.

Artificial Intelligence, its subfields, and automation will create some specific reflecting trends associated with new and emerging technology advances. Career gains from AI and automation include:

· Artificial Intelligence technology and automation salesperson
· Specialist programmers
· Cybersecurity experts
· Engineering psychologists
· Robot and automation technology manufacturer, distributor, servicer, and refurbisher
· Technology-specific trainer
· Neuro-implant technicians
· Virtual health care specialist
· Virtual reality experience designer

Conclusion:
Digital transformation cannot be ignored without becoming irrelevant, and an adaptive Digital strategy is imperative.

The Digital workforce will be largely millennial, and significantly different from today in terms of culture, leadership style and skills. Artificial Intelligence, robots and Digital algorithms will automate many professions, but jobs requiring uniquely human characteristics – or are critical to the development of Digital solutions – will be in great demand by 2025.

A holistic Digital transformation strategy, which considers the Digital workforce along with the business model, process and customer channel dimensions, will be imperative for organisations wishing to remain relevant in the next 10 years.

Global Smartphone Growth Slowing in 2016

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Gartner said global smartphone sales will for the first time exhibit single digit growth in 2016. Global smartphone sales are estimated to reach 1.5 billion units in 2016, a 7 per cent growth from 2015. The total mobile phone market is forecast to reach 1.9 billion units in 2016.

Worldwide combined shipments for devices (PCs, tablets, ultramobiles and mobile phones) are expected to reach 2.4 billion units in 2016, a 0.6 per cent increase from 2015. End-user spending in constant US dollars is estimated to decline by 1.6 per cent year on year.

“The double-digit growth era for the global smartphone market has come to an end,” said Ranjit Atwal, Research Director at Gartner.

“Historically, worsening economic conditions had negligible impact on smartphone sales and spend, but this is no longer the case. China and North America smartphone sales are on pace to be flat in 2016, exhibiting a 0.7 per cent and 0.4 per cent growth respectively.”

Emerging Markets Continue to Grow, but at a Slower Rate
While smartphone sales will continue to grow in emerging markets, the growth will slow down. Gartner predicts that, through 2019, 150 million users will delay upgrades to smartphones in emerging Asia/Pacific, until the functionality and price combination of a low-cost smartphone becomes more desirable.

“Prices did not decline enough to drive upgrades from low-end feature phones to low-end smartphones,” said Annette Zimmermann, Research Director at Gartner. “Vendors were not able to reduce the price of a ‘good enough to use’ smartphone lower than $50.”

Countries such as India will help generate new mobile phone user growth. Sales of smartphones in India are on pace to reach 29 per cent in 2016 and will continue to exhibit double-digit growth in the next two years.

Mature Markets to Increase Mobile Phone Lifetimes
In the mature markets of North America, Western Europe, Japan and mature Asia/Pacific, Gartner analysts expect to see an extension of phone lifetimes among users.

“As carriers’ deals become more complex, users are likely to hold onto phones, especially as the technology updates become incremental rather than exponential,” said Ms Zimmermann.

“In addition, the volumes of users upgrading from basic phones to premium phones will slow, with more basic phones being replaced with the same type of phone.”

PC Shipments to Bottom Out in 2016
The global PC shipment market is expected to total 284 million units in 2016, a decline of 1.5 per cent year on year. Traditional PCs are on pace to decline 6.7 per cent in 2016. “In 2016, the PC market will reach its last year of decline before returning to growth in 2017,” said Atwal.

“The biggest challenge, and potential benefit for the PC market, is the integration of Windows 10 with Intel’s Skylake architecture. It has the potential for new form factors with more attractive features.”

In addition, the frustration with the capabilities in tablets will drive some consumers and businesses to review new form factors.

“However, to draw their interest the PC manufacturers need to ensure that they meet demand with the right products at the right price,” added Atwal.

Demand for ultramobiles (basic and utility tablets) will continue to weaken, with a decline of 3.4 per cent in 2016. Users are not only extending lifetimes, but also some will fail to replace these devices at all through 2016.

Insurance Fraud Management Forum Set for Berlin May, 12

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An insurance fraud management forum is set for Berlin, Germany from May 12, 2O16.

Benefits of Attending
The gathering will bring senior professionals together in one place mainly to debate the increasing prevalence and complexity of insurance fraud;

It will prepare those fighting against fraud for the challenges of the digital age.

You will meet industry leaders from Zurich Insurance, AXA, GENERALI, RSA Group, Baloise, Achmea, Warta, Dekra, Swiss Re, e.t.c. and learn the most progressive strategies to detect, investigate and prevent insurance fraud for maximum competitive advantage.

You will have the opportunity to build valuable business relationships at our interactive sessions.

you can share your experiences and ideas with our high level attendees through networking.

Don’t get left behind. Register here today to take advantage of this opportunity.

Topics
Insurance fraud today & tomorrow: Evolving trends and the challenge to manage them
Who are the fraudsters? Advanced profiling techniques for fraud mitigation
Ensuring compliance to developing regulatory requirements whilst successfully mitigating fraud
Effectively countering insurance fraud at the cross-border level
Excellence in fraud mitigation through raising public awareness of the consequences of insurance fraud
Bringing fraud investigation to the next level by leveraging the most advanced technologies
Promoting an anti-fraud culture at all levels of the organisation for improved fraud prevention
Operational excellence for successful mitigating Internet fraud

Nokia Plans More Job Cuts over Alcatel Acquisition

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Nokia has announced sweeping job losses as the consequence of its acquisition of Alcatel Lucent.

The scale of the job cuts has not been confirmed yet though.

The company aims to cut EUR 900 million from its costs, to be achieved in full year 2018. At the same time, Nokia is taking steps to adapt to market conditions and to shift resources to future-oriented technologies such as 5G. As part of the program, the company also continues to target worldwide savings in real estate, services, procurement, supply chain and manufacturing.

The headcount reductions are expected to take place between now and the end of 2018. Reductions will come largely in areas where there are overlaps, such as research and development, regional and sales organizations as well as corporate functions.

Nokia outlined these areas on October 29, 2015, when updating its synergy target.

“These actions are designed to ensure that Nokia remains a strong industry leader,” said Nokia President and CEO Rajeev Suri.

“When we announced the acquisition of Alcatel-Lucent we made a commitment to deliver EUR 900 million in synergies – and that commitment has not changed. We also know that our actions will have real human consequences and, given this, we will proceed in a way that that is consistent with our company values and provide transition and other support to the impacted employees.”

Global Airlines Financial Monitor [March 2O16]

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Aeroplane

Key Points:
· Global airline share prices continued their recovery in March from January’s decline;

· The latest airline financial results from Q4 2015 further cemented the picture of a strong end to 2015, driven by carriers in North America. Financial performance improved in all regions relative to Q4 2014 except Latin America;

· Crude oil prices gained in March, although the market currently expects them to stay below $50/bbl until late-2019;

· Further falls in air fares are likely to be seen in 2016 as fuel hedging contracts unwind and the decline in oil prices seen towards the end of last year feeds through. Exchange rate-adjusted fares fell by 6.2% year-on-year in January;

· While the leap year may have flattered things, the global air passenger market is enjoying a strong start to 2016. Passenger loads have slipped in recent months, though, which will require monitoring;

· Air freight volumes in the first two months of 2016 fell by 1.5% year-on-year, although the comparison is complicated by the one-off boost last year from disruption at US west coast seaports. The freight load factor in January and February combined was well below average for the time of year, keeping cargo yields under pressure.

QG Africa Acquires InterContinental Hotel in Lusaka

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QG Africa Hotel LP, a Mauritius-based fund managed by QG Investments Africa Management Limited, a company of the Quantum Global Group, has acquired 100% interest in the InterContinental Hotel Lusaka from Kingdom Hotel Investments for a gross consideration of $35.9 million. The transaction closed on 31 March 2016.

Considered a city landmark, the InterContinental Hotel Lusaka is situated at a prime location in Zambia’s capital. The 244-room hotel benefits from a strong image amongst international travellers, and offers significant repositioning and expansion potential.

Commenting on the acquisition, Jean-Claude Bastos de Morais, Founder of Quantum Global said “I’m very pleased with this first acquisition of QG Africa Hotel LP. It underlines our commitment and investment strategy for the hotel sector in Sub-Saharan Africa. The InterContinental Lusaka is strongly established locally and will benefit from the planned refurbishment that will expand and reposition the asset, thereby generating value added returns for our investors.”

Strong economic growth supported by a more transparent and relatively stable political climate has been attracting an increasing number of international business travellers to Africa, while also boosting cross-regional business traveling. These trends are driving up steady demand for increased and better business hotel accommodation across sub-Saharan Africa. QG Africa Hotel LP is a USD 500 million investment vehicle, which aims to capitalize on the emerging opportunities in the hospitality sector. As a long-term direct equity investor in hotel projects across sub-Saharan Africa, the investment structure targets real estate and real estate-related investments in midscale to upscale business hotels.

These are built to high quality international standards, with modern construction and design, and aim to respond to the growing need for hotel accommodation in sub-Saharan Africa.

The investment structure seeks investment opportunities in established growth markets, with a particular emphasis on prime locations within the continent’s major cities and airports.

Africa, Middle East Hardware Market Flat in 2O15

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A new research report released yesterday by International Data Corporation (IDC) shows that the Middle East and Africa (MEA) enterprise hardware market (comprising servers and external storage) remained flat in 2015 when compared to the annual revenues seen in the previous year.

Referencing its latest Quarterly Server and Disk Storage Systems Tracker, the research firm announced that enterprise hardware revenue in MEA totaled $2.31 billion in 2015, describing the year as transitionary in nature with organisations gradually moving towards convergence and datacenter optimisation.

“The region’s enterprise hardware landscape has transformed significantly in recent times, with organisation’s across MEA now increasingly focusing on converged systems and cloud solutions,” says Swapna Subramani, Research Manager for enterprise infrastructure at IDC Middle East, Africa, and Turkey.

“Given the challenging economic and political conditions now characterising much of the region, convergence and optimisation are becoming key.”

In line with this trend, the region is seeing increasing adoption of new technologies like converged systems, while procurement of infrastructure for cloud environments is also on the rise. The converged systems market, which includes hyper-converged appliances, grew by 6% year on year in 2015, and IDC expects this growth rate to reach 12% in 2016.

“New datacenter investments will leverage converged/hyper-converged infrastructures to support both public and private cloud deployments,” says Subramani.

The MEA external storage market declined 3% year on year in 2015. ”The region’s storage dynamics are swiftly moving in two different directions,” says Subramani.

“First is the movement into low-cost, scalable storage, while second is the growth of internal storage, which includes the value of storage enclosed within application servers containing three or more mass storage devices.”

IDC expects the high-end storage market to witness considerable uptake in the region during 2016, primarily bolstered by projects within the government, telecommunications, and oil & gas sectors. “The availability of alternative modes of storage such as flash, internal storage, converged systems, and cloud storage are the key driving factors for the ongoing shift we are seeing within the MEA storage market,” says Subramani.

Year on year, the MEA x86 server market witnessed 2% growth in value but a 4% decline in volume in 2015. “IDC witnessed an increased focus on high-end servers in 2015 as a result of investments increasingly being directed towards datacenter and cloud infrastructure projects,” says Victoria Mendes, Senior Research Analyst for enterprise infrastructure at IDC Middle East, Africa, and Turkey.

“This trend has resulted in an increase in the market’s value despite the decline in server shipments.”

The UAE enterprise hardware market grew 3% in value year on year in 2015. “The UAE was not hugely affected by the oil crisis in 2015 with a number of projects underway in the telecommunications, government, and banking sectors,” says Mendes.

“However, in line with the prevailing economic sentiment of the wider region, 2016 is expected to see a minor decline in the enterprise space as a number of key projects are postponed and budgets are cut.”

Saudi Arabia is expected to be heavily impacted by the oil crisis and the ongoing conflict in Yemen. The Kingdom’s enterprise hardware market suffered a 12% decline in value year on year in 2015 and IDC forecasts a further 17% decline for 2016.

However, the longer-term picture is far less gloomy, with IDC expecting the Saudi enterprise hardware market to stabilise and exhibit a five-year compound annual growth rate (CAGR) of 5% through to 2020.

The Africa enterprise hardware market suffered a 5% year-on-year downturn in value in 2015. The continent was rattled by currency depreciation in key markets like South Africa and Nigeria, along with political instability in several pockets of Africa.

Stability is expected to return this year, however, with IDC forecasting year-on-year growth of 3% for the continent as a whole. Egypt was the sole bright spot in 2015, showing good signs of recovery with year-on-year growth in enterprise hardware spending of 25%.

The release of pent-up demand from the political turmoil of the 2013–2014 period was the key factor driving the strong performance of the Egyptian market in 2015, and the market is expected to remain relatively flat in 2016 with cautious investments moving forward.

With 35.4% share, HP retained top spot in the overall MEA server market for 2015 despite suffering a 5% year-on-year decline in revenue. Dell moved up to second spot and was followed by IBM in the third place.

Boko Haram: Nigeria Lost $9bn Since 2011

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Nigerian economy

A study conducted by the Federal Government of Nigeria and various investors revealed that terrorist attacks Boko Haram has been carrying out in the 6 states in North-Eastern part of Nigeria since 2011 have cost the country $9 billion.

The study is yet to be released however its first figures were disclosed in a statement published on April 4 by the office of Nigeria’s vice-president, Yemi Osinbajo.

The study is the produce of the Nigeria Recovery and Peace Building Assessment, an intervention program in the six North-Eastern states involving World Bank, European Union and the United Nations. “At least $6 billion is needed for immediate and near-term stabilisation,” Osinbajo’s office said in its statement.

The on-field damage assessment which was carried out in each of the six States was based on education, water, housing, sanitation, public building, energy, environment, transport, economy and trade.

Boko Haram up till now killed more than 20,000 and caused close to 3 million Nigerians to leave their homes.
The jihadist insurgency has for goal the adoption of sharia and establishment of caliphate.

The sect which is led by Abubakar Shekau and was categorised as a terrorist organisation by the United Nations Security Council in May 2014, pledged allegiance in March 2015 to the Islamic State (IS).

AIG to Sack 125 Staff in UK

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AIG

American International Group Inc., the insurer under pressure from activist investors, may eliminate about 125 positions in the U.K. as it scales back in certain countries and moves jobs to lower-cost locations, according to people familiar with the plan.

The company could reduce the region’s staff by as much as five percent, said the people, who asked not to be identified discussing a plan that hasn’t been disclosed publicly.

Based on the headcount of 2,500 there, that means 125 could be affected, according to one of the people. Employees were informed of the plan last month in a note from the chief executive officer of AIG’s U.K. operations, Anthony Baldwin, the people said.

AIG CEO, Peter Hancock has resisted calls from activist investor Carl Icahn to split up the company, saying he favors a broader business mix that includes life and retirement insurance. AIG has disclosed a plan to cut at least 200 jobs at five locations in New York City, including at its headquarters.

“To become a leaner, more profitable and focused insurer, AIG plans to reduce expenses by $1.6 billion through 2017,” Jon Diat, a spokesman for the firm, said March 22 in an e-mailed statement. The company declined to comment further on the U.K. reductions. “As we take action to meet our expense target, staff reductions will occur.”

AIG shares have tumbled more than 13 percent this year, compared with an increase of less than one percent in the Standard & Poor’s 500 Index.

Africa50 Appoints Alain Ebobissé as CEO

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The Board of Directors of Africa50 has announced the appointment of Alain Ebobissé as Chief Executive Officer of Africa50, the Pan-African infrastructure investment platform capitalised by the African Development Bank and, so far, by 22 African countries with an initial capitalisation of $830 million.

Ebobissé, a citizen of Cameroon, currently serves as the Global Head for the World Bank Group’s Global Infrastructure Project Development Fund where he oversees a team of highly skilled and experienced infrastructure specialists and leads the development and investment in several infrastructure projects in Africa, Asia, Europe and Latin America. Ebobissé has led the design, structuring and implementation of IFC InfraVentures from its inception. Ebobissé also serves as Chief Investment Officer in the Global Infrastructure and Natural Resources Department of the International Finance Corporation (IFC), the private-sector arm of the World Bank Group, based in Washington, DC. USA.

Prior to joining IFC in 1998, Ebobissé held several positions in the financial services industry in France, including as Deputy Head of Project and Structured Finance at Caisse des Depots et Consignations, based in Paris. Ebobissé holds a Master of Business Administration from the International School for Management Development (IMD).

“Ebobissé is well recognised global leader in the area of infrastructure finance and development. He has an impressive track record of global leadership in successful development of private, and public-private infrastructure development, structuring, financing and equity investment in emerging markets,” said Akinwumi Adesina, President of the African Development Bank and Chairman of the Board of Directors of Africa50.

“I am excited about the opportunity to lead Africa50 and serve Africa and to work with Government partners and private investors to develop and fund a large number of bankable infrastructure projects in the continent on the basis of strong commercial discipline and sound investment principles,” stated Ebobissé.

“I look forward to working with the Board of Directors and to building a highly skilled and experienced team of infrastructure investment professionals that will enable us to help transform the African infrastructure landscape,” he added.

“I am delighted to welcome Ebobissé to Africa50. His extensive experience and recognized global leadership in infrastructure development will be critical as we build Africa50 into an effective and successful infrastructure investment house widely recognised as a leader in infrastructure project development and investment in Africa, with an excellent reputation and credibility within the continent and beyond,” said Akinwumi Adesina.

About Africa50
Africa50 is a specialised international financial institution established by the African Development Bank and African countries to help accelerate infrastructure development in Africa.

Africa50 held its Constitutive General Assembly on 29th of July 2015 in Casablanca, Morocco.

The countries who have so far committed funds to Africa50 are: Benin, Burkina Faso, Cameroon, Congo, Côte d’Ivoire, Djibouti, Egypt, Gabon, Ghana, Kenya, Madagascar, Malawi, Mali, Mauritania, Morocco, Nigeria, Niger, Senegal, Sierra Leone, Sudan, The Gambia and Togo.

While the first closing was available only to African countries, it is anticipated that the second and subsequent closings will be available not only to African countries that are yet to invest in Africa50, but also non-sovereign investors both in Africa and outside Africa with a target to raise $3 billion over the medium term to invest in commercially viable infrastructure projects across Africa. Africa50 is incorporated in Casablanca, Morocco and enjoys certain privileges and immunities.

Africa50 is committed to the highest standards of corporate governance and ethical, environment and social responsibility.

Ntel to Launch LTE Services April 8

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Nigeria’s Ntel, which recently bought the assets of struggling former state-owned telco, NITEL, has announced launch details for its own LTE network. The launch date is Friday, April 8, 2O16.

The 4G network will initially cover Lagos and Abuja and is due to launch later this week following approvals from the telecoms regulator.

Ntel’s CEO, Ntel, Kamar Abass said the company has deployed about 600 base transceiver stations in the two cities, with thousands more to be rolled out as the network expands.

Abass said already 200 kilometres of fibre optic transmission cables have been laid in Lagos, Abuja and Port Harcourt for network connectivity.

He added that Ntel has deployed LTE-A with multi-antenna MIMO sites to improve download speeds.

“We are rolling out physical sites in three cities on our 900MHz and 1800MHz bands to launch Voice over LTE come April 8, 2016.” he noted.

African Energy Ministers Xray Opportunities in Power Sector

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Over 130 speakers to date have confirmed to attend the 18th annual Africa Energy Forum (AEF) taking place in London this year from 22-24th June.

Widely considered the meeting place for Africa’s power sector professionals to discuss opportunities for investment into the power sector, 56% of the African continent was represented at the Forum in 2015.

Recent decision-makers confirmed include Honourable John Abdulai Jinapor, Acting Minister of Power, Republic of Ghana, H.E. Honourable Spéro Mensah, Minister of Energy, Petroleum and Mining Research, Water and Renewable Energy Development, Republic of Bénin, H.E. Honourable Mamadou Frankaly Keita, Minister of Energy and Water, Republic of Mali, Nick Hurd, Parliamentary Under Secretary of State for International Development, Government of the United Kingdom, Brigadier General Emeldah Chola, Permanent Secretary, Ministry of Energy and Water Development, Zambia and Karén Breytenbach, Head of IPP Projects, IPP Office, South Africa.

The agenda includes government keynote addresses, targeted industry seminars and plenary sessions, discussing topics such as how to accelerate renewable energy uptake, increase the bankability of projects, and encourage partnerships between the public and private sector. An exhibition of 80 solution providers enables attendees to network throughout the three days of the conference.

New for 2016, North and East Africa regional panel discussions will bring together the regions’ governments to discuss how they can collaborate to support cross-border power developments and energy infrastructure. More specific country-focused sessions will also explore the investment landscapes in countries such as Mozambique, Nigeria and Ghana.

Sponsor of the Forum Access Power will host the ACF competition for local clean power entrepreneurs in Africa, allowing developers to pitch their projects to a panel of specialists for the opportunity to win US$7million in prize funding.

The organizers, EnergyNet will host a ‘Festival of Energy’ evening concert on the evening of 23rd June to bring together high profile bands in the UK with African musicians from across the continent. The Festival will highlight the role of commercial trade in delivering energy access to millions living beyond the grid.

Galvanising African Agriculture via Farm Mechanisation

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Galvanising African

Massey Ferguson, a worldwide brand of AGCO (NYSE:AGCO) is inviting farmers and agricultural dealers from across Africa to attend its exciting ‘Vision of the Future’ farm mechanisation event at the AGCO Future Farm in Lusaka, Zambia (8 April 2016).

“This major event is a catalyst for ideas focused on farm mechanisation as key a driver for growth in African agriculture,” says Thierry Lhotte, Massey Ferguson Vice President Marketing, Europe/Africa/Middle East (EAME).

“With up to 100 machines on show, this will be the biggest spectacle of MF farm machinery and agricultural services staged in Africa for many years. Our emphasis is firmly on the new generation of farmers, farm workers and agribusinesses and their vital role in advancing the future of African farming. We have planned a really dynamic and thought-provoking experience with plenty to inform, inspire and entertain our guests.”

Reflecting Massey Ferguson’s mission to supply a comprehensive and progressive system of farm mechanisation for all types of farm enterprise, machines from its full-line catalogue will be showing their paces.

A number of products will see their African debut at the event. MF tractors, harvesting machinery, implements, hay & forage tools, seeding & tillage and materials handling equipment plus some of the latest farming techniques to support African agriculture will be on demonstration and display.

This first-of-its-kind showcase event takes place at the AGCO Future Farm in Lusaka. The occasion will also see the official opening ceremony of AGCO’s state-of-the-art training facilities at the farm attended by Given Lubinda, Zambia’s Honourable Minister of Agriculture and Livestock, Dr Rob Smith, AGCO Senior Vice President & General Manager EAME and Nuradin Osman, AGCO Director of Operations Africa and Middle East.

“As AGCO’s global brand, Massey Ferguson is spearheading the Company’s strategy to transform African agriculture through inclusive and sustainable mechanisation,” says Dr Rob Smith. “Vision of the Future will have broad appeal and plenty to interest farmers across the spectrum of agri-enterprises – from progressive emerging and smallholder operations through to established farmers and larger agricultural business including contractors and fleet owners.”

Visitors to Vision of the Future will be able to drive the latest range of Massey Ferguson machines, gain an insight into product engineering and connected technological services, spend time with field service teams and technicians on how to get the best from machinery and have conversations with key players who are shaping the future of the agricultural sector.

In addition, visitors will have the opportunity to interact personally with Massey Ferguson design engineers and share their own vision and ideas for future tractors through a Virtual Reality engineering experience.

Like-minded companies from the agricultural sector are supporting Massey Ferguson at the event. For example, Michelin will be presenting a practical demonstration of tyre performance. Also participating are partners from the AGCO family of brands including GSI (grain storage solutions) Fuse Technologies (precision agriculture) and AGCO Parts (distribution of MF genuine parts).

“This is a unique opportunity for visitors to see MF’s credentials as an innovator, encouraging positive change within the agricultural industry and providing mechanisation solutions for farms big and small,” says, Campbell Scott, Massey Ferguson, Director Marketing Services. “Massey Ferguson is an integral part of the African agricultural landscape and our machines have been contributing to farm output here for over 130 years. We have shipped over half a million tractors to Africa, and today we are active in every country on the continent. Our experience is second to none.”

“The principal tenets of our design philosophy that machines should be tough, straightforward and dependable are particularly applicable to African conditions,” he continues.

“Furthermore, Massey Ferguson supplies a full mechanisation programme which covers all bases, embracing top-performing equipment, technology, expertise, knowledge, back-up and customer support. Our comprehensive range of products satisfies the needs of the complete farming season – from planting to harvest. Our fully-trained and extensive network of distributors and dealers takes care of sales, service and parts supply.”

A major exhibit is a new Mechanisation Package aimed at farmers making their first move into mechanised farming.
Based on a Massey Ferguson tractor and a line of accompanying implements, this is aimed specifically at giving emerging farmers access to modern farm equipment at an affordable price.

The package provides the opportunity for a vital step-up on the ladder of mechanisation for the millions of smallholder farmer families who are crucial to improving food security in Africa.

The very latest MF sub-130hp tractors have been designed with Africa in mind. The 100-110hp MF 5700 from this range will be making its first appearance on African soil at Vision of the Future, while the 112-132hp MF 6700 will see its first public showing in Africa at the event.

These join the 75-95hp MF 4700 which had its world premiere in Africa in 2014. Among the tractors flying the flag for Massey Ferguson’s high-specification, high-horsepower machines will be the award-wining 140-255hp MF 7600 and 270-370hp MF 8600 Series.

A brand-new combine for the Africa Middle East region headlines the harvesting machinery exhibits at Vision of the Future. The versatile 200hp MF 32 Advanced features a straw-walker design, 5,500 litre grain tank and is capable of harvesting cereal grains, maize, rice, beans.

Other highlights include a 175hp MF 7240 combine, 88hp MF 2168 rice harvester and MF 1840 small square baler. A wide range of seeding and tillage implements on show will include planters, drills, rippers and land finishers. From Massey Ferguson’s new hay & forage tool line-up, visitors will be able to see a selection of mowers, rakes and tedders.

“This is truly a festival of MF farm machinery and services, demonstrating just what can be achieved to boost efficiency and productivity with the right equipment, technology and know-how,” explains Thierry Lhotte.

“We are looking forward to working with our customers to help meet the challenges ahead and maximise the opportunities for a new generation of farmers. Vision of the Future from Massey Ferguson is the perfect forum to exchange ideas, learn from each other and think ahead for the development of sustainable and prosperous agriculture.”

ITU Unveils Trends in Telecommunication Reform 2016

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The latest edition of ITU’s annual global ICT regulatory report, Trends in Telecommunication Reform 2016,charts and analyzes the challenges and opportunities facing today’s ICT regulators as services proliferate, platforms converge and network operators ready their infrastructure for the next round of data-intensive technologies, from 5G mobile to the Internet of Things (IoT).

The world’s most comprehensive overview of ICT policy and regulatory trends, ITU’s Trends in Telecommunication Reform 2016 brings together insights from a broad range of leading global experts to help regulators, ICT analysts and tech journalists gain a deeper understanding of the issues facing an increasingly broad array of ICT players – and consumers.

New ICT goods and services are bringing with them enormous social and economic disruption. But while there are many benefits to be reaped, the report highlights regulatory challenges that must be addressed to preserve the ‘level playing field’ considered essential to competition and innovation. With the theme of ‘exploring regulatory incentives to achieve digital opportunities’, the report emphasizes the growing importance of flexible, light-touch, technology-neutral regulatory principles which stimulate market growth while protecting the rights of consumers and encouraging new entrants.

“Information and communication technologies are now all-pervasive and will be central to helping the world meet all 17 Sustainable Development Goals. The role of ICT regulators in creating an enabling environment for ICT growth and development has never been more critical,” said Houlin Zhao, ITU Secretary-General. “ITU’s annual Trends in Telecommunication Reform report supports regulators around the world to put the right policies in place for their national markets.”

“To realize the full potential of the digital economy, policy-makers and regulators have a key role to play in building policy and regulatory environments in which new technologies can flourish,” said Brahima Sanou, Director of ITU’s Telecommunication Development Bureau. “This 16th annual edition of Trends in Telecommunication Reform focuses on regulatory incentives to achieve digital opportunities which I believe upholds the ultimate goal of regulators: serving consumers.”

Key findings of the 2016 edition:
Broadband investment

Capital expenditures on fibre infrastructure are expected to surpass USD 144.2 billion between 2014 – 2019.
More than 40 operators have launched or are planning LTE-A deployments worldwide; 88% of these operators are in developed markets.

The rise in consumer data consumption may spur more Wi-Fi investment.

Increasing numbers of existing operators, new entrants and financiers are developing alternative funding approaches for broadband network investments.

Investment in broadband infrastructure is also coming from more unlikely institutions such as hedge funds or corporates that do not traditionally invest in telecoms infrastructure.

Network Sharing

When network coverage becomes less of a competitive differentiator, operators may need to consolidate networks (through network sharing) as a means of moving away from infrastructure investment and towards developing innovative services.
Governments currently allocate spectrum mainly on a dedicated basis. New dynamic spectrum access (DSA) technologies allow devices to use spectrum where it is not being used in a particular geographic area, or at a particular time.

Network sharing can have many benefits but is not without risks, which can include: reduction in competitive intensity; potential for collusive dealing and information sharing; and reduced options for services-based competitors.

IoT

The mobile industry association GSMA predicts between 1 – 2 billion M2M connections by 2020. Some experts believe that the market for IoT devices will grow exponentially, resulting in over USD 1.7 trillion in value added to the global economy by 2019.

The simplest IoT technology — passive RFID tagging — is already widespread in retail, transit ticketing and access control.

Near-Field Communication (NFC) is now included in newer smart phones, enabling applications such as contactless payments.

More complex M2M systems can send information over cellular networks. Examples include electricity metre readings sent to energy companies and car airbag deployment notifications sent to emergency services. Literally hundreds of millions of M2M systems are being deployed around the world.

IoT technical standards have evolved from a variety of different applications and stakeholders with different aims and requirements, and more work is needed to integrate different standards frameworks. A uniform network of “things” is unlikely to develop in the medium term. Smart meters are unlikely to communicate directly with heart-rate monitors, or recipe planners. Some networks will use public infrastructure, others will be entirely private. Some applications will have high bandwidth and interactivity requirements (such as video surveillance), others may focus on transferring short bursts of information (such as smart meters).

For IoT to become a truly ubiquitous technology, the cost of tags, sensors and communication systems need to fall to a level where they are a very small fraction of the total costs of the objects to which they are attached, with readers also made easily available. Even the cheapest (printed) tags, known as Quick Response (QR) codes, have not yet generated high responses in consumer-targeted marketing campaigns.

High reliability levels also become important in large-scale systems that can include thousands of sensors, devices and readers.

Without adequate security, intruders can break into IoT systems and networks, accessing potentially sensitive personal information about users and using vulnerable devices to attack local networks and other devices. IoT system operators and others with authorized access are also in a position to “collect, analyse, and act upon copious amounts of data from within traditionally private spaces.”

A further privacy issue relates to the amount of personal information that can be derived from seemingly innocuous sensor data, especially when it is combined with user profiles and data from other sources.

Interoperability

The concept of ‘interoperability’ is much broader than just technical compatibility, with implications across all four key levels – technological, data, human and institutional.
Systems can increase interoperability by:

– providing greater opportunities for technical interconnection;
– being more open about the types of systems and services that can interconnect;
– supporting a greater variety of data; and by
– making it easier for humans to leverage the interconnections.

Interop can also increase opportunities to exploit the system. A system that has more points of access allows (1) more types of systems to connect, (2) processes data with fewer limitations (3) increases potential attack vectors and (4) creates more opportunities for nefarious actors to exploit data or to inject bad code.

Increased levels of interoperability tend to enhance user choice and autonomy.

Interoperability is not an end in itself, and doesn’t always have to be maximized. Instead, private actors and regulators must work carefully to optimize the level of interop necessary to meet their objectives.

Interop challenges include:

– increased complexity of interoperable systems, which may lead to decreased reliability, with downstream systems increasing reliant on upstream systems
– Increased homogeneity and less market diversity
– Decreased privacy because of a rising number of individuals with access to one’s personal information
– Threats to business models – as higher levels of interop are distributed unequally across a market. Some businesses may have a vested interest in maintaining lower levels of interop, allowing them to benefit from customer lock-in.