Connect with us

News and Report

African leaders to task: Consider your legacy, do the right thing! ………Africa’s agenda must change to prioritize jobs and power, Elumelu cautions

Published

on

“Embrace legacy, you are not here forever,” Mr. Tony O. Elumelu, CON, Chairman of Heirs Holdings, and Founder of the Tony Elumelu Foundation, urged policymakers as he represented the African private sector at the opening session of the 2017 World Economic Forum on Africa which began in Durban, South Africa, on Wednesday May 3. “You must improve the business terrain to deal decisively with issues of joblessness and poverty,” he advised, “the environment is stifling, entrepreneurs provide their own water, their own transport, their own electricity, how are they going to succeed? “

He made this plea alongside other panellists including Winne Byanyima, Executive Director, Oxfam; Lindiwe Mazibuko, Former Leader of the Opposition, Parliament of South Africa; and Rich Lesser, Global CEO/President Boston Consulting Group (BCG), emphasizing that “SMEs – not big corporates – grow economies.”

Elumelu, who also chairs the board of Transcorp Plc with investments in power, oil & gas and hospitality, stressed the looming threat of widespread joblessness, labelling it the “greatest challenge for the continent”. His solution is straightforward: entrepreneurship development. Illustrating the power of entrepreneurship to transform economies, Elumelu recounted his own experience supporting entrepreneurs from 54 African countries.

Through the Tony Elumelu Foundation’s $100m commitment to African entrepreneurs in 2015, 3000 small businesses across Africa have been empowered so far, and Elumelu described their success stories with pride. “We have seen first-hand how SMEs create a multiplier effect where more youths are gainfully employed through the jobs created. To transform Africa, we must make doing business easy for them.”

As important as the private sector is, Elumelu and his co-panellists reiterated that the private sector alone cannot achieve much without the critical role government must play. For Elumelu, it is all about legacy: “If our political leaders embrace legacy and it guides them, they will fix Africa.”

Supporting him, Mr. Klaus Schwab, the Executive Chairman of the World Economic Forum, agreed that leaders must “act as the stewards of the generations coming behind them, think about their legacy and accept that they will not be in office for life.”

The theme for this year’s World Economic Forum on Africa (WEF Africa), “Achieving Inclusive Growth through Responsive and Responsible Leadership”, stems from the unanimous demand globally for leaders to be responsive to the demands of their people.

Continue Reading
Advertisement

News and Report

Union Bank, WACOT Rice Kick Off Financial Inclusion Drive for Smallholder Farmers in Kebbi

Published

on

As part of Union Bank’s commitment to driving financial inclusion in Nigeria, the Bank has partnered with WACOT Rice Limited – a rice processing company, to financially include 6,000 local farmers including youth and women in Kebbi State.
The Kebbi Financial Inclusion Drive (KFID) which will cover four Local Government Areas – Argungu, Augie, Suru, and Dandi – is a critical part of WACOT’s Argungu Outgrower Expansion Project funded by United States Agency for International Development (USAID) West Africa Trade Hub. This program is set to resolve the overwhelming financial inclusion deficit within rural communities in Kebbi.
The financial inclusion initiative is being implemented with technical support from National Identity Management Commission (NIMC), to help the farmers acquire the relevant documentation and identification required to open bank accounts.
Union Bank will facilitate account opening and expand its agency banking network to cover the areas while supporting its agents on ground with digital banking solutions to enable seamless transacting and account management.
Farouk Gumel, Chairman WACOT and Board Chair, Union Bank was on ground in Kebbi State to kick-off the drive and paid a visit to the Kebbi state Governor, Senator Abubakar Atiku Bagudu to discuss expanding the programme state-wide.
In his recent keynote address at the recently concluded and  Chartered Institute of Bankers of Nigeria (CIBN) Conference, Mr. Gumel said:
 “As we work towards achieving financial inclusion to reach the unbanked, we must commit the same resources and investments to rural-local customers as we have done to urban-global clients to help create the growth that will lift us all to collective prosperity.”
WACOT Rice is a subsidiary of TGI Group. TGI Group, through another of its subsidiary Titan Trust Bank, recently acquired Union Bank in a landmark transaction which was announced in 2021.

Continue Reading

News and Report

FIRSTBANK PARTNERS VERVE INTERNATIONAL, MAKES CUSTOMERS MILLIONAIRES IN THE FIRSTBANK VERVE CARD PROMO

Published

on

In partnership with FirstBank – Nigeria’s premier and leading financial inclusion services provider – Verve International, Africa’s leading payment technology and card business, has launched its third National Consumer promo designed to reward users of FirstBank verve card with exciting gifts and cash prizes to appreciate their patronage and use of the card to carry-out their electronic banking transactions.

The ongoing 2-month promo will end on 30 October 2022 as 20 customers (10 customers per month) with the highest transaction count during the promo will be made millionaires, winning the sum of N1 million each. Also, N20,000 will be won by 25 customers monthly.

On the other hand, 2620 FirstBank verve cardholders that double their transactions every week, stand a chance to enjoy 10% cashback capped at N2,000 per customer.

Speaking on the promo Chuma Ezirim, Group Executive, e-Business & Retail Products, FirstBank said “we appreciate our partnership with Verve Card through the years; a partnership of empowerment and opportunities which include growing the economy, supporting new businesses and preventing unemployment. FirstBank verve card holders are encouraged to keep using their cards as it is a card offering that promotes safe, convenient and rewarding digital banking experience with 20 customers standing a chance to be millionaires at the end of the promo.”

Verve card is a secure debit card that allows cardholders to conveniently meet their daily financial needs such as payment for goods and services, airtime recharge, bill payments, funds transfer, etc. Verve card is accepted across all ATMs, POS, Web and Mobile Platforms in Nigeria.

The promo is also opened to new verve cardholders as non-verve cardholders are encouraged to visit the nearest FirstBank branch today to pick up a Verve card and start getting rewarded!

Only recently, FirstBank – in partnership with Verve – rewarded over 2601 FirstBank verve cardholders with various prizes; including N20,000 cash prize, N10,000 cash prize, N10,000 worth of airtime; power generating sets, refrigerator, cooking gas, smart TV and the grand prize of a brand-new car to a lucky winner.

 

Continue Reading

News and Report

Federal Government Orders University Vice-Chancellors To Reopen Schools, Begin Lectures Amid 7 Months Lecturers’ Strike

Published

on

The government issued the directive through the National Universities Commission (NUC), and a letter signed by its Director, Finance and Accounts, Sam Onazi, on behalf of the Executive Secretary of the commission, Professor Abubakar Rasheed.

The Nigerian government has directed vice-chancellors to re-open universities and allow students to resume lectures immediately.

The government issued the directive through the National Universities Commission (NUC), and a letter signed by its Director, Finance and Accounts, Sam Onazi, on behalf of the Executive Secretary of the commission, Professor Abubakar Rasheed.

 

The letter which The PUNCH obtained on Monday, was reportedly addressed to all vice-chancellors; Pro-Chancellors and chairmen of governing councils of federal universities.

 

“Ensure that ASUU members immediately resume/commence lectures; Restore the daily activities and routines of the various University campuses,” the letter partly reads.

We had reported that the National Industrial Court of Nigeria (NICN), on Wednesday, September 21, 2022, ordered the Academic Staff Union of Universities (ASUU) to call off its ongoing nationwide strike.

 

It reported that the umbrella body of the lecturers in public universities had declared a warning strike on February 14, to force the Nigerian Government to implement agreements it earlier signed with the union.

 

The agreement stipulated how university education would be funded for better improvement.

 

The strike has since rolled over and is now in its seventh month following the government’s failure to implement all the agreements.

 

Several meetings between ASUU and the Federal Government have ended in a deadlock.

 

Consequently, the Federal Government went to court to challenge the strike.

 

The government through its counsel, James Igwe, prayed the court for an interlocutory injunction restraining ASUU from taking further steps as regards the strike, pending the determination of the substantive suit.

Continue Reading

Trending