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The Time is Now to Invest in Africa and African SMEs, Tony Elumelu Tells Global Investors in Paris

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Tony O. Elumelu, Founder of the Tony Elumelu Foundation (TEF) and Chairman, United Bank for Africa (UBA) and Heirs Holdings opened the “Ambition Africa” conference organised by the France Invest Africa Club in Paris, France.

As Elumelu delivered the opening address, he urged French investors to look to Africa for long term investment opportunities.

The French Minister of Economy and Finance, Bruno Le Maire, as he introduced Tony Elumelu to the audience stated that France could position itself and direct investment towards Africa to end the cycle of poverty and to accelerate development globally. He commended Elumelu’s stance on strengthening the SMEs in Africa to catalyse development. “We share the same ambition in Supporting African SMEs and entrepreneurs as this is essential for the economic development of Africa,” he said, referring to Elumelu’s passion to create wealth on the African continent.

Reiterating the stance to partner with Africa on long-term investments, Mr. Le Maire said “We will ensure that investments in Africa are sustainable, exemplary and environmentally friendly. We want to go fast, go quickly in the race against poverty and renunciation, throughout the continent”.

Tony Elumelu on his part stated “We need to do much better and be much smarter in channelling funds to emerging markets. These markets present huge opportunities – as well as risks for investors, but investors need to fulfil a critical need to catalyse and improve the economy. We salute companies like Total, Bouygues, Accor, Orange, and Bolloré as well as others who have accepted this challenge, but there is room for many more” he said.

Elumelu stressed the importance of private equity inflow into Africa, with a focus on investing in small and medium scale businesses, the lifeblood of the African economy. He stated that Africa has the youngest workforce in the world, with over 60% of its population below the age of 25. This he said was a potential demographic doom that could be turned around to become the continent’s greatest asset if the youths have jobs and economic opportunities.

According to him: “Africans do not need aid. Rather, our young people need investments’.

“Private equity is a force for positive development in Africa. We have a large youth population, who are eager and innovative. They are looking at solutions to problems in their communities but are hampered by the access to capital and investment, mentoring and training. When done right, this kind of investment can bring not just capital but can also strengthen job creation, corporate governance and help improve sustainable business practices”.

He cited the impact and growth rate of the beneficiaries of the Tony Elumelu Foundation as evidence of the potential of SMEs in Africa today. His Foundation has endowed $100 million dollars of his family wealth, to fund over 10000 African entrepreneurs in ten years.

Mr. Elumelu commended The French President, Emmanuel Macron’s initiatives for strengthening the relationship between France and Africa and concluded by inviting investors to consider investing in Africa for the long term.

“The key phrase here is long term investment – no one should come to Africa for short term gain. The time is now to invest in Africa. Private equity has to be part of it. We need it for all,” he concluded.

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UBA Foundation Projects Message of Hope, Encouragement as Uzoka lights up the Foundation’s Garden Ahead of the Yuletide.

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Set to Give Back at Its Annual Food Bank

Africa’s global bank, United Bank for Africa, through its UBA Foundation has been spreading joy across Africa for many years as they continue to give back to the underpriviledged in the communities in which they operate.

At the UBA Foundation gardens in Lagos where the bank is head quartered, a lights up ceremony was held to mark the start of the festive season. The garden lights were activated by UBA’s Group Managing Director/Chief Executive Officer, Mr. Kennedy Uzoka who was joined by other key management staff and some customers of the bank.

Uzoka who is also the chairman of  the UBA Foundation, emphasised that giving back was the main tenet of the UBA Foundation. He said ‘We have over the years, engaged in various activities aimed at appreciating our host communities all around Africa and especially in countries where we operate and so for us, these lights symbolise hope for the future and all the goodness it will bring into people’s lives.

‘it is hard to believe that we have been in this pandemic for almost two years. People have lost friends and family members and businesses decimated by the effects of the pandemic. There has been a general feeling of hopelessness but our desire is to fill people’s lives with hope once again.’ Continued Uzoka.

The UBA Foundation has been very active in combatting the spread of Covid -19 across Africa as the bank did not waste any time at the start of the pandemic, donating over $14m  to its communities across Africa to support the fight against the Covid-19 pandemic.

This year, the Foundation will be feeding tens of thousands of people across Africa through its annual Food bank initiative where food, hygiene products and other gifts items are handed over to those who have less, especially during the festive season.

The CEO, UBA Foundation, Mrs Bola Atta, said that the light up ceremony was important for the Foundation adding: “This goes beyond lighting up the Marina and adorning the streets with beautiful colours. It reminds us as an institution of our promise to continue to touch lives and treat our communities with kindness. We are living in very difficult times and a little gesture to put a smile on even one face, goes a very long way. We should all endeavour to do whatever we can, within our power, to uplift others’

The Lighting Ceremony which observed all necessary Covid-19 protocols was witnessed by members of staff and customers, and featured Christmas carols by UBA’s CFC choir, as well as a guided tour around the beautiful UBA Foundation Garden at the Lagos Marina.

UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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Dangote Refinery to Become Highest Employer of Chemical Engineers in Nigeria

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…Engineers hail the huge scale of project
The National President of Nigeria Society of Chemical Engineers (NSCh) has revealed that Dangote Oil Refining Company will be the highest employer of chemical engineers in the country when the refinery comes on stream.
The Society’s National President, Engr. Saidu A. Muhammed, disclosed this during the NSCh’s visit/tour of the Dangote Refinery and Petrochemical project at Ibeju-Lekki, Lagos at the weekend.
He commended the company for its contribution to energy security in Nigeria.
Engr. Muhammed, who led members of NSCh on a tour of the Dangote 650,000 barrels-per- day refinery project in Lagos, to mark the end of the association’s 51st anniversary celebration, said the industries in Nigeria have not been able to absorb the over 1,000 engineers  yearly from Nigerian Universities.
Muhammed stated, “We, the Nigerian Society of Chemical Engineers, have keenly been watching the progress of the refinery project.
“When completed, the refinery will be singular largest employer of chemical engineers in the country. Nigerian Universities turn out about 1,000 chemical engineers every year and the avenues for employment have been very scarce.
“The industry has not been able to fully absorb the number of chemical engineers that passed out of the universities years ago.
Some companies within the sector are not running at optimum level. Therefore, employment is really key.
“However, from the energy security point of view, chemical engineers are always concerned about what can be put in place to guarantee energy security the country. Nigeria is blessed with abundant crude oil, but unfortunately, we are importing petroleum products simply because Nigeria’s own refineries are not utilising their installed capacity”, he said.
“Therefore, when you see a brand new refinery like the Dangote Refinery that has the capacity to meet the petroleum products needs of the country, there is need to celebrate such company”, Muhammed added.
He expressed delight over the size of the project and the level of work that has gone in the construction of the refinery.
“The Dangote Refinery project is very impressive, very big. There is no project of this magnitude right now in this part of the world. We are delighted to see that the project is nearing completion and many things have been done.”
He commended the Dangote Group for its plans to ensure that Nigerian engineers are trained to handle the operation of the refinery plant, which has been acclaimed to be the largest single train refinery in the world.
“We are most impressed by the numbers of Nigerians that we see within the site working at various sections of the plant. We are glad that Dangote is building this type of project in Nigeria, which is one of the largest in the world,” he said.
Muhammed added that the members of the association are happy to see that Dangote Refinery will contribute significantly to energy security in Africa.
“We are also happy about the refinery’s contribution to energy security in Africa. The refinery is also going to have positive impact on Nigeria’s downstream oil and gas industry.”
Speaking also at the event, the Technical Consultant to the President of Dangote Group, Engr. Babajide Soyode commended the chemical engineers for coming on a tour of the refinery.
According to Soyode, Dangote’s refinery will help Nigeria meet and exceed its current demand for gasoline, diesel, jet fuel and kerosene, leaving ample product for export.
“This connotes significant positive economic impact on Nigeria and the West African region, transforming Nigeria from a net importer to exporter of refined petroleum products and curtailing significant foreign exchange outflows. “Additionally, the availability of excess fuel will also provide a catalyst for eliminating Nigeria’s expensive fuel subsidy,” he added.

Soyode said that the 650,000 barrels-per-day refinery would complement other major infrastructure investments that Dangote has planned at the strategically located Lekki Free Trade Zone in Lagos, including a port, gas processing facility, power plant, and petrochemical and Fertiliser complex. “When completed, this infrastructure complex will create a significant economy of scale for one of Africa’s largest industrial conglomerates, supporting jobs in both Nigeria and other African countries”, he added.

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MARK KUCHER – The Master of Falsehoods

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On October 6, 2020, NextGen Mining, a company with over 75 years of collective experience of prospecting, exploration and mining of precious metals in Nevada, entered into a Letter of Intent (JMX LOI) with JMX, LLC for the Jessie Project located in Nevada. The LOI expired on February 2, 2021. The Company has a lawsuit pending in the Second Judicial District Count of the State of Nevada and for the County of Washoe against JMX, LLC, Donn Gunn, Mark Kucher and Thomas Mancuso, former Managing Director for breach of contract and fiduciary duties relating to JMX LOI. The lawsuit is still ongoing as of August 2021.

FALSE STATEMENTS FROM MARK KUCHER DATED 2019. Taken from the prospectus: https://dlpresourcesinc.com/ management-directors/

Mark D. Kucher, Advisory Board
Mr. Kucher brings over 35 years of mining investment banking, company creation and shareholder wealth creation. He is currently the Managing Director and Chief Investment Officer of the Bank of Nevis International
https://www.pressreader.com/ canada/stockwatch-daily/ 20191016/282449940790318
Shell Summary for Oct. 15, 2019 – PressReader
https://www.pressreader.com
› canada › stockwatch-daily
16 Oct 2019 — The eighth shareholder of DLP is Mark Kucher. ..In February 2019, he became a managing partner of Bank of Nevis International, a bank …

So KUCHER became a managing partner in BONI in 2019? Is that possible? BONI was wholly owned by Bank of Nevis Limited then and there is no mention of a Mark Kucher in their financials for that year. So, did Kucher make a statement to the Toronto Stock Exchange (TSX) that he knew was not true and all because he wanted boost his corporate profile to benefit himself on the Board of DLP? The TSX should please tell us.

THE BAD MIND OF MARK KUCHER
NEVIS people beware there a waah wolf among yuh He’s coming tuh tek everything. Yuh job yuh haad wuk an laba him wa lef yuh wid nuttin. Empty cupboard frustration an tears.
Dis elderly man who like di jink a likkle too much is among yuh suh beware. Bad mind, ongle fi himself. Always ongle fi himself. Kucha fos everyone else laas.
Mark Kucha dem kno him inna Nevada dem kno him inna Canada. Be careful Be careful him ave a lang history of legal cases an nearly all always bout funds breach of contract
He’s fooling yuh him cyaa fool di people him run away from
Nevis people open yuh eyes St kitts people open yuh eyes!

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