President Donald Trump said that the US would extend economic support for African countries “committed to self reliance” and foster mutual job creation in a speech to African leaders on the sidelines of the UN General Assembly. Trump invoked wealthy friends investing in the continent and added that Africa has “tremendous business potential …for American firms. It’s really become a place that they have to go”.
Source: African Business, October 2017
China and Nigeria have agreed to put in place measures to tackle importation of substandard products into the country.
China and Nigeria Chamber of Commerce (CCCN) President, Ye Shuijin, stated this yesterday, while addressing reporters in Abuja. He insisted that most of the imported fake products were not made in China.
He said the Chamber and Standards Organisation of Nigeria (SON) have some agreements to check influx of substandard products into the country.
“Most of the substandard products that came to Nigeria are not from China because the Chinese government has well structured standards in place for its products.
“China products are of high quality, nonetheless the Chinese government is already cooperating with Nigeria to promote importation of quality products to Nigeria,” he said.
The quality of imported products, such as iron rods, bulbs, sockets, cables and fittings have always been allegedly traced to China.
SON raised an alarm last year that 40 per cent of electrical and electronic appliances imported into Nigeria “are substandard and have caused disasters with destruction to lives and property.”
It was also observed that all manner of uncertified food items are dumped in the country.
The National Bureau of Statistics (NBS), also said Nigeria spent N212.73 billion to import agricultural products in the last quarter of last year.
The Chamber chief therefor stressed the need to guide importers to do the right thing and not to import substandard products to Nigeria.
Shuijin urged the importers and the consumers to be vigilant and reject any noticed substandard products for the development of the economy.
The president said the chamber and the Chinese government always encourage investors from China to invest in the manufacturing sector and help in the development of the economy.
He said Nigeria, because of its population, has the market which he said was an added advantage to attract investors into the country.
Shuijin assured that more Chinese investors would be willing to invest in Nigeria.
Source: The Nation, 24th August 2017
President to address nation following more than three months of absence spent in London for ailment.
Nigerian President Muhammadu Buhari has returned to the country on Saturday after more than three months in the UK for medical treatment for an undisclosed “health challenge”.
The 74-year-old left for London on May 7.
His prolonged absence caused tensions back home where calls have grown for him to either return or resign.
“President Buhari is expected to speak to Nigerians in a broadcast by 7am on Monday,” his office said.
In recent weeks, the office has been releasing photos of officials meeting with the rail-thin but smiling president in the hope of reassuring people back home.
His main opponents in the 2015 election that brought him to power claimed he had prostate cancer. He has denied that claim. Buhari’s four-year term ends in 2019.
Challenges facing Nigeria
Nigeria’s ongoing challenges include deadly Boko Haram attacks, a weak economy and one of the world’s worst humanitarian crises, with millions malnourished in the northeast.
With Buhari away, Nigeria has been led by acting president and Vice President Yemi Osinbajo, who met the president in London in mid-July and announced that Buhari would return to Nigeria “very shortly”.
Observers fear that political unrest could erupt in Nigeria, particularly in the predominantly Muslim north, should Buhari not finish his term in office. The previous president was a Christian from the south, as is Osinbajo. The health of Nigeria’s Musa Yar’Adua after months of treatment abroad leaders has been a sensitive issue since the 2010 death in office of President Umaru Ardua.
Source: Al Jazeera, 19th August 2017
The cooperation took place to to strengthen the market position and to provide African partners with essential goods especially tools for craftsmen.
The company Elementaro is a well known provider for craftsmen tools and craftsmen clothing.
The CEO of Dusira UG Michael Patotschka tells that this will be the next important step to give assistance in establishing independent companies in Africa and to empower SME’s and startups.
A two-day Global Sustainable Finance Conference will be held from 13th to 14th of July 2017 in Karlsruhe, Germany. This event will bring together senior executives of financial institutions, policy makers and regulators, development banking community, commercial bankers, senior government officials, representatives of multilateral institutions and other major stakeholders.
The conference delegates will discuss key issue including: Disruptive innovation in the financial industry; strategies and practices for holistically embedding sustainability in organizational culture, lending and investing and decision making; latest developments in financial inclusion and SME Finance; and large-scale project financing for sustainable development.
This global gathering of committed stakeholders offers a distinctive opportunity to deliberate on cutting-edge financial services for advancing sustainable infrastructure projects including clean energy, smart manufacturing industry and financing innovations for creating an inclusive, green and sustainable economy.
In addition to presenting a big picture view of the 21st century financial services and offering actionable insights to the participating delegates, the upcoming conference aims to build global partnerships for sustainable banking and finance. This multi-stakeholder conference provides an excellent opportunity to network with the senior leadership of financial industry, multilateral agencies, government institutions and other stakeholders from around the world. An optional excursion/ get-together will take place on Saturday the 15th of July 2017.
Further details are available on the conference website: http://eosd.org/en/gsfc_fi.html.
The brochure can be downloaded by clicking this link: gsfc2017
afric-Invest
