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Tagged with "business"
Africa Is Open For Business And Partnerships
Category: Business
Tags: News Business Sim Tshabalala

“Africa is now being taken seriously and is open for business and partnerships,” Standard Bank Group Chief Executive Sim Tshabalala told an audience yesterday at the first US-Africa Business Forum in Washington DC, USA.

The forum took place yesterday at the historic US Africa Leaders Summit. The business panel discussions and speeches by various global, American and African business and political leaders energetically grappled with expanding the new era for business in Africa; financing the Africa of tomorrow; and leading developments in infrastructure.

The Presidents of Rwanda, Senegal, South Africa, Tunisia and Tanzania raised the bar when they eloquently affirmed that this was an historic event. There is no doubt that Africa is now being taken seriously as it is rising and emerging. This event has helped cemented relations between African and Americans and the clear message is that Africa is open for business and partnerships.

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It was remarkable to observe how attuned Standard Bank Group's purpose, vision, strategy and plans were in harmony with the issues that were discussed. We are on the right path.

The climax of the forum was President Obama's rousing closing speech where he confirmed that the US wanted to up its game in Africa by summarizing five concrete actions that were meant to increase trade and investment between Africa and the US and between African states.

These initiatives were extending and deepening AGOA (African Growth and Opportunity Act); helping US companies compete for business with Africans; partnering with Africans to build infrastructure; helping Africans trade with the US and with themselves; and doing more to empower a new generation of entrepreneurs.

As a business that calls Africa home, Standard Bank Group is well positioned to facilitate the business that will develop out of these deliberations.

Source: standardbank

Liberia, Nigeria Sign Five Cooperation Agreements
Category: Business
Tags: News Liberia Nigeria Business Augustine Kpehe Ngafuan Nuruddeen Muhammad

The Inaugural Session of the Nigeria-Liberia Joint Commission has ended in Abuja with the signing of five agreements for cooperation between the two countries.

IN PHOTO: LeftLiberia’s Foreign Minister Augustine Kpehe Ngafuan signed the Joint Communiqué on behalf of Liberia while Nigeria’s Minister of State II Nuruddeen Muhammad singed on behalf of the Federal Government.


Liberia’s Foreign Minister Augustine Kpehe Ngafuan signed the Joint Communiqué on behalf of Liberia while Nigeria’s Minister of State II Nuruddeen Muhammad singed on behalf of the Federal Government at a ceremony held at the Ministry of Foreign Affairs in Abuja, Nigeria on Tuesday, July 15, 2014.

According to a Foreign Ministry dispatch from the Nigerian capital, Abuja, the inaugural session laid the basis for enhanced economic and social development of the two countries and peoples and the promotion of regional security and development.

Liberia and Nigeria signed agreements for cooperation in Education, Culture, Bilateral Trade and Training of Liberian Foreign Service Officers. The two countries also entered into a Memorandum of Understanding on Mining and Geology.

One of the significant features of the agreements signed is that Nigeria has committed to grant a soon to be agreed number of scholarships to Liberian diplomats to pursue an 18-month Masters in International Relations and Strategic Studies (MISS) programme at the University of Lagos.

While pursuing their masters’ degree, Liberian beneficiaries of the Nigerian scholarships would also take courses at the Nigerian Foreign Service Academy.

Speaking ahead of the signing ceremony, Liberia’s Foreign Minister Augustine Kpehe Ngafuan gave special recognition to experts from both countries that worked behind the scenes to make the signing of the agreements a reality.

Minister Ngafuan sees the signing of the Joint Communiqué as a giant step forward in consolidating Liberia/Nigeria relations. “We at Foreign Affairs are the diplomats and have done our part by enhancing the relationship; we are now expecting implementation which means our sector ministries and experts would coordinate more through direct communication and follow ups on issues of mutual concern as it relates to the successful implementation of the various agreements”, the Liberian Foreign Minister remarked.

He said if the ministries and sectors in both countries forge closer partnerships it will ensure success while the Foreign Ministry in both countries will be continue to nudge their respective ministries and agencies in taking the concrete steps that would ensure the achievement of the objectives laid down in the agreements.

Foreign Minister Ngafuan also wants both governments to work on strengthening the ties between the private sectors of their respective countries. He spoke of the huge investment potential in Liberia and urged the Nigerian private sector to take advantage of what he called “the first mover advantages”.

Minister Ngafuan thinks it will be more win-win if a private sector actor from a West African country like Nigeria would invest more significantly in Liberia in various sectors as Liberian entrepreneurs also look to doing similarly in Nigeria.

For his part, the Minister of State II for Foreign Affairs of the Nigerian Government Nurudeen Muhammad said he was overwhelmed with joy that the Joint Commission Meeting that has been in the pipe line for over two decades could be finally held with the signing of several agreements.

He described Tuesday, July 15, 2014 as a day of history making for both Liberia and Nigeria.”It is my hope that the five documents we are about to sign today that includes agreements and memorandum of understandings will open a new vista in improving our bilateral relationship”, the Nigerian Minister of State for Foreign Affairs stated.

Dr. Muhammad is hoping the signing of the agreements will broaden and deepened Liberia/Nigeria relations and explore possibilities of future cooperation. He commended Minister Ngafuan and the Liberian delegation for what he described as productive two days and looked forward to the next joint commission meeting in Monrovia which he anticipates would take place in less than a year.

The Foreign Ministry dispatch said both countries deliberated on education related matters and accordingly signed an agreement that will further concretize the already good collaboration of the two countries in the sector. Nigeria agreed to continue the Technical Assistance Cooperation (TAC) Scheme wherein Nigeria regular fields Nigerian teachers to render critically needed services in the Liberian school system.

 An agreement that will facilitate the training of Liberian Foreign Officers in the Nigerian Foreign Service Academy was also signed during the Joint Commission meeting in Abuja with both countries also agreeing to reinforce the subsisting agreement on the Technical Aid Corps Scheme.

 

The Session recognized trade as an essential and indispensable component in the deepening and broadening of relations between Nigeria and Liberia and resolved to facilitate trade and commerce by removing all impediments that militate against free trade including putting in place measures and structures that would enhance commerce and people to people contact.

The release said guided by the desire to enhance relations in the Cultural sector and recognizing the importance of promoting cultural values in both countries, Nigeria and Liberia signed an Agreement on Cultural Cooperation that will promote cooperation between the public and private cultural institutions in both countries.

Mindful of the enormous opportunities that abound in the mining sectors of both countries and the comparative advantage of Liberia in the sector, both countries agreed to explore ways of making positive intervention in the sector through the signing of a Memorandum of Understanding in Mining and Geology.

Meanwhile, the two countries agreed on further consultations on the MOUs on Immigration, Drugs, Science and Technology, Agriculture and Sustainable Development, Health and Medical Sciences as well as Transport and Civil Aviation.

The Foreign Ministry release disclosed both sides are expected to give due attention to the two MOUs on the areas stated for signing as soon as possible.

Source: Sengbeh

Liberia 1847 Hats By Modern Pharaoh Founded By Adam T Smart Tags: Business Local News Adam T Smart Modern Pharaoh California Sacramento

Adam T. Smart , owner and founder of Modern Pharaoh –an online apparel for all your African wears and hats, presents Liberia 1847 hats, just in time, for Liberia independence day, which is on July 26th  –and if you are planning to rock the Red, White & Blue with one true shining star, you get to have the modern Pharaoh’s Liberia 1847 hats to match your outfit, but most importantly to show that you are a true patriot of Liberia.

Adam T. Smart is a native Liberian but residing in the U.S.A; also, he was a former (almost pro-Liberian) player who played in the USA, and he almost made it to the USA’ Major League Soccer (MLS); he obtained a bachelor degree in Business Economics/Accounting at University of California, Santa Cruz.

According to the modern Pharaoh website (modern-pharaoh.myshopify.com), it stated that its business model and thinking “is far removed from subjectivity. Whereas a Pharaoh is revered and one commands the masses, we interpret a Pharaoh as the return of Kings and Queen.”

“Modern Pharaoh is a representation of the king and queen in all of us. Wear each item with pride knowing that you are a proud descendant of royalty. We are a clothing/apparel company located in Sacramento, California. Established in the Fall of 2013.”

Modern Pharaoh, also, sells all kinds of African hats and clothes apparel from Nigeria to Ghana, from Ivory Coast to Kenya and other African countries. Get Your Copy Now.

"My man Boakai Mohammed Konneh always supporting. Rocking that new Liberia SnapBack. Appreciate it," Adam T. Smart posted on his online media pages and website.

Source: Lartink@beeafrcian.org


BEEAFRICAN NETWORKS LOCAL is interest in our local and talented Africans to report our news and stories. We believe if we join other African reporters, we can discuss our own issues and problems -and in doing so, we can be part of it: Africa’ Issues and problems -and if we are part of our own news/stories, our generation to come will hear our cries. Most importantly, we can report our own stories/news. To help BEEAFRICAN.COM report our local news and feature our local and talented African reporters, moderators, or columnists, please email: local@beeafrican.org.

Turning Trash Into Art - Ocean Sole (VIDEO)
Category: Business
Tags: News Business Kenya

From Kenya to Washington may seem a long way to travel to spread a simple environmental message. But one group from Nairobi is doing just that at the annual Smithsonian Folklife Festival. Mackenzie Buckwalter has more for VOA on their work cleaning up their nation’s coastline -- and turning discarded rubber sandals into art.

Passionate about the ocean, its ecosystems and marine wildlife, we recycle flipflops that are found littered on beaches and in waterways of Kenya.

Every single Ocean Sole product is handcrafted to protect the oceans and teach the world about the threats of marine debris.

As a bizarre and yet very real phenomenon, thousands and thousands of flipflops are washed up onto the East African coast creating an environmental disaster. Not only spoiling the natural beauty of our beaches and oceans, the rubber soles are swallowed & suffocated on by fish & other animals, they obstruct turtle hatchlings from reaching the sea and are a man-made menace to our fragile ecosystems.

VIDEO:

Our creative team of artisans transforms the discarded flipflops into elephants, giraffes, lions, rhinos, dolphins, sharks, turtles and more. These colourful masterpieces come with an important message about marine conservation whilst bringing smiles to people all over the world.
Be a part of the pollution solution and join us on a flipflop safari!

Source:VOA|Ocean Sole

Billions Leaving Africa Illegally Each Year Tags: News Business Cameroon

YAOUNDE, CAMEROON — African lawyers say they are committed to bringing back money illegally taken out of the continent. During a meeting in Cameroon's capital Yaounde, former South African President Thabo Mbeki said the hemorrhage of money from Africa makes the continent heavily indebted and highly underdeveloped.

The lawyers say illicit financial flows, amounting to an estimated $50 to $60 billion per year, are carried out through theft and bribery by public officials, corporate transactions, criminal activities, international trade, public procurement and contracting, poorly enforced financial regulations and multi-national financial networks.  The African lawyers also say much of the loss cannot be traced.
 
The president of the Pan-African Lawyers Union, Elijah Banda, told VOA that illegal outflows are no longer only carried out by corrupt African leaders.
 
"The way we understand financial flows is not people taking boxes of cash across the borders. It is being undertaken in a very serious way in multi-national transactions, transfer pricing between corporations and their sister corporations overseas. Copper based countries that have an extractive industry are very prone to these activities. In Zambia we know that money is leaving the country which should not in form of proper declaration of taxes in form of proper declaration of profits by these multi-nationals. All these become illegal flows," said Banda.
 
A Nigerian human rights lawyer, Femi Falana, who has been instrumental in trying to bring back money taken out of his country, told VOA that multi-national companies work in collaboration with his country's political elite to loot the peoples' wealth.
 
"The Nigerian government out of sheer irresponsibility, after 54 years [of oil exportation] does not know how much oil is produced in Nigeria daily. They rely on what Shell, Mobil and the rest [of the oil companies] tell us. This is what we have lifted from the ground. We lose in some years like 2011, $16 billion in one year," said Falana, adding that bad legislation also facilitates the illegal outflow of money.
 
"In 2011, the [Nigerian] national assembly amended the money laundry act to allow anybody travelling out of the country to declare it.  That was primitive. What used to happen before then was that nobody could go out of the country with more than $10 thousand cash.  Any other amount beyond that had to go through a banking process, but when you say I can just make millions of dollars, get to the airport, declare it and take it out, that is primitive," said Felana.
 
Stopping the flow

A joint report by the African Development Bank and the United States advocacy group Global Financial Integrity, presented during the conference, indicated that between $1.2 trillion and $1.4 trillion left Africa in illicit financial flows between 1980 and 2009, an amount which is almost equal to Africa's current gross domestic product.
 
Cameroonian born lawyer Akere Muna told VOA they are working with the World Bank to trace the money.
 
"The World Bank calls this initiative about money that has been taken out: 'stolen assets recovery initiative.' So the World Bank is calling the money that has been taken out stolen assets. It means therefore that if any bank deals with that money it is dealing with stolen assets," said Muna.
 
It will not be an easy thing to trace and bring back the money.
 
Anna Gardner of the London-based NGO "International Lawyers for Africa" told VOA that the process is often long and cumbersome.
 
"Firstly, there has to be due diligence in the victims country to identify how much money is missing. Then there is a process once that is identified to get court orders to say that those assets have been identified, they need to be frozen and then the real process now starts. It is a long and convoluted process, the burden of proof is too great," said Gardner.
 
Elijah Banda, however, says the lawyers resolved to bring the matter to the attention of the wider African public and the world through targeted messaging and the building of strong coalitions and partnerships.  
 
As Thabo Mbeki said, the massive illicit loss of money continues to hurt Africa's financial condition, development, and its future.

Source: VOA

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Researchers Discover New Species of Dinosaur in Tanzania
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Posted on September 13th 14
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New Guinness Africa Ad (2014) – #MadeofBlack
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