Tag: Africa
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President Buhari congratulates Malawi’s new president
President Muhammadu Buhari has congratulated Malawi Opposition Alliance Leader, Lazarus Chakwera, the winner of the country’s presidential election re-run.
The president stated this in a statement by the Senior Special Assistant to the President on Media and Publicity Mallam Garba Shehu, on Sunday in Abuja.
According to the statement, President Buhari looks forward to working with the Malawian president for the advancement of peace, security and development of the entire continent.
Chakwera defeated incumbent Peter Mutharika with 58.57% of the vote in Tuesday’s poll, the electoral commission announced late on Saturday.
In February, Malawi’s constitutional court annulled Mr Mutharika’s victory in the May 2019 election, citing vote tampering.
Following the official result on Saturday, Mr Chakwera said his victory was “a win for democracy and justice,” adding: “My heart is bubbling with joy.”
Chakwera, who was sworn in as President on Sunday, had his supporters took to the streets of the Malawian capital, Lilongwe, sounding car horns and letting off fireworks.
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Akinwummi Adesina: Sierra Leone President, ex-US AfDB representative strengthens support base
The support base of embattled President of the African Development Bank (AfDB), DR. Akinwunmi Adesina has been strengthened by two top level individuals, Sierra Leone President, Julius Maada Bio and Harold Doley, the first United States representative to the AfDB. They are the latest joining in with their voice.
In a message posted on twitter last Sunday, President Bio expressed solidarity to the man that is widely referred to, across the continent as Africa’s Chief Developer.
Adesina, the 2013 Forbes Africa Person of the Year awardee did not only appreciate President Bio throwing his weight behind him, he also expressed gratitude to other African leaders who had spoken in his favour over controversies generated by some whistleblowers and fanned by the United States, a non-regional member of Africa’s multi billion dollar development bank.
“Thank you very much Your Excellency President Bio of Sierra Leone for your heartwarming confidence and support and that of the good people of Sierra Leone. I am humbled and grateful. @CyrilRamaphosa (President Cyril Ramaphosa of South Africa), @MBuhari (President Muhammadu Buhari of Nigeria) @AUC_MoussaFaki (Chairperson, African Union Commission)”, Adesina wrote.
On his part, Doley did not fail to emphasise Dr. Adesina’s impressive feat as head of the AfDB in an open letter to US President Donald Trump.
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Doley stressed that Adesina, since he assumed office in 2015, has rapidly restructured the bank refining its focus through a High-5 strategy, driven by strategic investment in energy, and electricity, agriculture, technology that significantly improved food security, access to private sector finance, improved transport infrastructure, water and sanitation, which has directly impacted the lives of many Africans.
While he noted that it is profitable for America to support the AfDB, Doley said: “In 2019, with US support, the AfDB stakeholders approved a general capital increase of 115 billion dollars, the largest in the bank’s 56 years history. The increase more than doubled capital from 93 billion dollars to 208 billion dollars.
“Also in 2019, the bank’s concessional window, the African Development Fund, received a 35 percent replenishment with donor contributions.
“US shares of $499,695,200 represents 7.81 percent of total subscriptions are a critically needed resource for low-income countries and transition states.
READ ALSO: AfDB: Obasanjo knocks US over flagrant ridicule, rallies support for Adesina
“Ultimately, supporting Africa’s private sector is critical for social and economic development. In 2018, Adesina led an unprecedented effort to attract global investment into Africa through the inaugural Africa Investment Forum”, Doley’s letter read in part.
In separate statements written to the Ethics Committee and Board of Governors of the AfDB to register their support for Dr. Adesina, the Nigerian Government through the office of the Minister of Finance, Budget and National Planning, Zainab Ahmed, and 14 former African presidents and prime ministers led by Nigeria’s ex-President Olusegun Obasanjo including ex-President Goodluck Jonathan affirmed that an independent probe is stretching the matter too far since the Ethics Committee had cleared the Bank’s president of wrongdoing according to the governing procedures, to which an external independent probe is alien.
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Dangote, GTBank emerge most admired African brands
Idowu Sowunmi
For the third time in a row, Dangote Group has emerged as the most admired brand of African origin by consumers.
Also, GTBank has emerged as the most admired financial brand in Africa and the United Kingdom’s BBC retained its media category ranking as the most admired media brand in separate category sub-surveys.
This was disclosed in a survey of 100 Africa best brands announced in a novel global virtual event that incorporated the market openings of Kenya, South Africa and Nigeria.
African brands only occupy 13 of the 100 entries, seven less from last year.
The consumer-led survey sought to establish brand preferences across Africa. The survey was conducted among a representative sample of respondents 18 years and older, in 27 countries which collectively represent 50 per cent of the continent, covering all economic regions and accounting for an estimated 80 per cent of the population and the GDP of Africa.
The 2020 survey was conducted between February and April 2020 and yielded over 15,000 brand mentions and over 2,000 unique brands.
Established 10 years ago, the Brand Africa 100: Africa’s Best Brands survey and rankings have become the most authoritative survey, analysis, and metric of brands in Africa.
Founder and Chairman of Brand Africa and Brand Leadership, Thebe Ikalafeng, during an online interactive session via Zoom, said: “African brands have an important role in helping to build the image, competitiveness and transforming the continent’s promise into a real change.”
He expressed concerns that 10 years after “the triumphant FIFA World Cup in South Africa which globally highlighted the promise and capability of Africa, and despite the vibrant entrepreneurial environment, Africa is not creating more competitive brands to meet the needs of its growing consumer market”.
Global Client Development Manager, GeoPoll, Caitlin van Niekerk, in his remarks, said: “The reach and accessibility of mobile across the continent enabled us to survey respondents across a representative sample of countries quickly and effectively, giving us vital and timely results at a critical time. Kantar has been the insight lead for Brand Africa since inception in 2010.”
In his reaction, Group Chief Corporate Communication Officer of Dangote Group, Anthony Chiejina, said the management was not unexpected of the ranking because the company has a long standing reputation for quality, relevance compliance and social stewardship.
According to him, “Our mission and vision engage and inspire us to by extension connects us with both our internal and external stakeholders.
“We fervently believe that only Africans can develop Africa, and this gives us stronger sense of relevance in all the countries where we have our operations.
“We are touching lives by providing their basic needs and empowering Africans more than ever before; creating jobs reducing capital flight, helping government conserve foreign exchange drain by supporting different industrial infrastructural projects of African government.”
Chiejina noted that Dangote Cement has been producing high quality and affordable cement, reducing poverty, engaging in unprecedented philanthropy and above all respecting the laws of the land where we operate.
He said: “All these are our credo and we do not compromise it, it is our way. And the ranking is just an acknowledgement of all these by our stakeholders, We keep our brand promise and stay authentic.”
Out of the top 100 brands in 2010/11, only half still appear in this year’s list due to mergers, acquisitions and the obsolescence of many brands.
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The most prominent changes are in the technology category with the demise Blackberry (#32 in 2010/11), the consolidation of Vodafone (#54 in 2010/11 and now #13 in 2020) which acquired Vodacom in 2008 and re-branded in 2011, Etisalat (#40 in 2010/11) re-branding to 9 Mobile in 2017 and Motorola (#39) being acquired by Lenovo in 2014.
A Chinese brand, Tecno, has raced up the ranking from #33 to #5 in the rankings – a dominant performance for one of China’s premier global brands that are not even sold in China.
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Tony Elumelu Foundation invests $7.35 million in African entrepreneurs
By Tobiloba Kolawole
No less than 5,000 African entrepreneurs, private and public sector leaders and the broader entrepreneurship ecosystem converged on Lagos on Thursday, October 25, 2018 for the annual Tony Elumelu Foundation (TEF) Entrepreneurship Forum. The event is a unique opportunity for bringing together young business talent, creating dynamic networks and transmitting the message to policymakers that a vibrant and responsible private sector will deliver economic transformation.
The forum which is now in its fourth year, is the graduation of the 2018 cohort of the TEF Entrepreneurship Programme, after a tedious nine-month duration of training, mentorship and funding. This brought the total number of beneficiaries of the Programme to 4,470 and about 300,000 applications received since the start of the entrepreneurial initiative.
A major highlight of this year’s forum was the unveiling of TEFConnect, a revolutionary digital community that serves as a complete convergence of the entrepreneurship ecosystem across Africa and beyond. The platform includes entrepreneurs, investors and the broader business community in one digital community, connecting them with three vital elements for success – capital, market and business tools. TEFConnect brings to fulfillment a key responsibility in bringing together entrepreneurs across the Africa, a continent that is riding a wave of rapid technological driven change spreading through payment systems, education, agriculture and infrastructure.
The event commenced with a battery of goodwill messages from major stakeholders in the investment, governmental and development communities. Other important highlights were pitching competition, panel discussions, as well as a vibrant interactive session between the Ghanaian President Nana Akufo-Addo and entrepreneurs; and moderated by TEF Founder, Tony O. Elumelu.
The event also included a marketplace exhibition where past beneficiaries of the programme showcased their products and services.
