Saturday, January 28, 2017
Buhari congratulates US President elect, Trump
President Muhammadu Buhari on Wednesday congratulated the United States’ President-elect, Donald Trump, on his electoral victory in the country’s presidential election. In a four-paragraph statement by his Special Adviser on Media and Publicity, Mr. Femi Adesina, the President said he looked forward to working with Trump to strengthen the relationship between the two countries.
The statement read, “On behalf of the Government and people of the Federal Republic of Nigeria, President Muhammadu Buhari congratulates President-elect, Donald Trump, on his victory in the United States presidential election.
“President Buhari also congratulates American citizens on the outcome of the election, which was keenly observed by all true lovers of democracy and those who believe in the will of the people.
“The President looks forward to working together with President-elect Trump to strengthen the already established friendly relations between both countries, including cooperation on many shared foreign policy priorities, such as the fight against terrorism, peace and security, economic growth, democracy and good governance. “As Mr. Trump prepares to assume the position of the President of the United States, President Buhari extends his good wishes to him on the onerous task of leading the world’s strongest economy.”
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Forbes Africa Top 25 Listed Companies Special - Part 1
The Forbes Africa Top 25 Listed Companies Special highlights the significant developments of West African markets over the years.
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Exports have improved South African trade balance
Better exports have improved our trade balance or account with the rest of the world. The current account deficit narrowed to 5.1 percent of South Africa's GDP in the fourth quarter of last year - compared to 5.8 percent of GDP in the third. Overall the current account deficit for last year narrowned to 5.4 percent which is down from 2014. The deficit parly reflects the extent to which South Africa is importing more than it exports.
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Business Morning: Housing For The Poor With Babajide Okusaga
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US-Nigeria Agric Relations: Focus On Strategic Partnerships And Engagements
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Citigroup's Miguel Azevedo gives advice on investing in Africa
CNBC Africa speaks to Miguel Azevedo, Head, African Investment Banking, Citigroup to give advice on how, and where to invest in Africa with special focus on the economies of Egypt, Ghana, Ethiopia, Rwanda and Nigeria.
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Solving Lagos State's transport problem
Destination Lagos highlights the investment potential of Nigeria's cosmopolitan state, Lagos. On this episode, CNBC Africa's Didi Akinyelure showcases the challenges and opportunities in the transportation sector.
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Unpacking energy investment opportunities in Africa
Currently underway in Johannesburg is the Africa Energy Indaba that has drawn global experts to unpack both the challenges and the opportunities for energy investment in Africa.
Invest Africa was on the ground and chatted to some of the world leaders in this space. We caught up with Christoph Frei, the Secretary General of the Word Energy Council on the side-lines of the launch of the Council's latest report on Shale Gas opportunities.
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Lekki free trade zone
this is your prime hotspot investment location in West Africa, why not put your money today.
banks will fail your
Stock will fail you
Forex will fail you
but real estate investment cannot fail you
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Dangote Sugar engages Stockbrokers on the impact of its Backward Integration
The backward integration policy has played a positive role in the operations of Sub-saharan Africa's leading sugar refinery "Dangote sugar", as the company is set to create 20,000 jobs through its operations in Savannah, Adamawa State and Lau/Tau sites in Nigeria.
This was the brief of the Acting Group Managing Director of the Dangote Sugar Refinery, Engr Abdullahi Sule at the floor of the Nigerian stock exchange, were he led the management team to pay a courtesy visit.
It was also an opportunity for Engr Abdullahi Sule to share more of the financial market impact and strategies ahead for the company to become one of the biggest Sugar industry players in the globe.
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What business thinks should be done to grow S.A's economy
In the last few days, South Africa received two much welcomed reprieves. First on Friday from Standard & Poor's and another from Fitch Ratings, that held South Africa's sovereign investment grade rating. However, first quarter GDP figures from Statistics South Africa painted a worrying picture. The world economy is not faring better either. On this MoneyMakers, Bruce Whitfield discusses how to grow the economy with a man who helped build a company. Founder and Executive Director of Discovery Insure, Themba Baloyi is our guest and a member of the Young Presidents' Organisation.
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State Of The Nation: Nigeria In Recession Pt. 1
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S. African scientists pioneer technology to benefit entire continent
One of the world's most ambitious science projects is making good progress in South Africa. The Square Kilometre Array -- or SKA telescope will cover a distance of at least 3-thousand kilometres from its central core. This makes it at least 50 times more sensitive than any other radio telescope. South Africa and Australia are hosting the bulk of the project, but China has committed funding and scientific personnel. CCTV's Travers Andrews has this report.
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How to Fix Nigeria’s Economy
The price of a barrel of oil has fallen more than 70% since June 2014 and reverberations are being felt across the globe. Less than a year after the excitement surrounding the historic 2015 election which peacefully transferred power from the People’s Democratic Party (PDP) to the All Progressives Congress (APC), Africa’s largest economy and the continent’s biggest oil producer is on the brink of an economic crisis. Oil prices have fallen to roughly $33 a barrel – the lowest value since the 1990s – and in a context where oil accounts for 35% of GDP and 75% of the government’s revenue, this has had serious consequences.
President Muhammadu Buhari and his administration are grappling with a widening deficit which is expected to reach $15 billion in 2016, a plunging growth rate of 3% at the end of last year, and dwindling foreign currency reserves. The government is looking to borrow $9 billion from financial institutions, and is trying to keep the value of the naira from depreciating by banning the import of several goods and restricting the supply of foreign currency.
But what deeper structural problems does the currency crisis reveal? Can the clock be turned back on Nigeria’s deindustrialisation and over-dependence on oil? And how do social media campaigns such as #BuyNaijaToGrowTheNaira contribute to economic transformation and sustainable growth? Join award-winning broadcaster Funmi Iyanda and a panel of experts as they explore these questions.
‘How to Fix Nigeria’ is an event series conceived by Funmi Iyanda, award-winning producer and broadcaster at Creation TV and Oya Media, and organised in collaboration with the Royal African Society and the Frontline Club. The series brings together a broad range of speakers to discuss practical solutions to Nigeria’s contemporary challenges – and to definitively explore ‘How to Fix Nigeria’.
The panel:
Professor Charles Soludo is an economist and former Governor of the Central Bank of Nigeria (2004 – 2008). He has served in more than 25 standing or ad-hoc technical and policy committees of the Nigerian government, and has acted as a consultant to 18 international organizations including: World Bank; IMF; OECD; EU; various UN-agencies; UK-DFID; USAID, AU, ECOWAS, IBM consulting, USA, IDRC Canada. Soludo has been a visiting scholar at Oxford, Cambridge, and Warwick (UK) and a visiting professor at Swarthmore College (US). He currently serves as chair or member of boards of several think-tanks; and as a strategic advisor to institutional investors.
Feyi Fawehinmi is a senior investment accountant at Friends Life UK. He qualified as an accountant a decade ago and has since worked in banking, private equity and insurance in the UK’s financial services industry. He has been blogging on politics and economics in Nigeria for the last 8 years and has been featured on Quartz, CNN and Buzzfeed.
Natznet Tesfay is director of Africa analysis, economics and country risk at IHS. She is responsible for data, analysis and forecasts on political violence and the political economy in Sub-Saharan Africa. Her areas of specialisation include analysis of political developments affecting the offshore energy sector in West Africa, particularly Nigeria; commercial developments, especially in mining, energy, and infrastructure in East Africa; and piracy risks in the Gulf of Aden and Gulf of Guinea.
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