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Category: COVER

  • Appointment of the Principal Secretary for The Blue Economy

    Appointment of the Principal Secretary for The Blue Economy

    15 May 2023 | Blue Economy

    The Office of the President has today announced the appointment of Mrs Phillianne Ernesta as the new Principal Secretary for The Blue Economy, effective from the 1st May, 2023. This follows the recent appointment of Mr Kenneth Racombo as Ambassador.

    Mrs Ernesta holds a Bachelor Degree of Arts in anthropology from the Nelson Mandela Metropolitan University and a Diploma in General Management of the Guy Morel Institute.

    Mrs Ernesta has 18 years of working experience in the public service.

    Mrs Ernesta joined The Blue Economy Department in October 2016 as the Director for Maritime Boundary Delimitation. In February 2019, she took charge of the Blue Economy’s Policy and Programme Management Division as Acting Director General and in January 2020 she was confirmed in the post of Director General of the same Division, a position she has held until her new appointment as Principal Secretary.

    Source: (State House News Alert)

  • Using Science to Cope with Climate Change Impact Challenges

    Using Science to Cope with Climate Change Impact Challenges

    WATEX system set to fish out Africa’s hidden Groundwater Goodies

    …. As RTI Exploration Drives the “Water for Peace” Paradigm  

    Story: Mohammed Abu

     In March this year, the Representative of Public Affairs and Congress of the US Millennium Challenge Corporation(MCC) publicly announced that the French company RTI Exploration, after two years of research, had identified, from an innovative technology, about 50 billion m3 of available groundwater, with an annual recharge estimated at 2 billion m3.

    This, historic discovery represents a volume of water almost ten times greater than that of Lake Chad, the country’s largest source of surface water after the Niger River. This revolutionary discovery makes Niger the most groundwater-rich country in the Sahel region.

    This abundant groundwater resource discovered in Niger will increase its irrigation capacity on an area of more than 2 million hectares of arable land covering these aquifer systems, nearly a third of the size of Lake Michigan (57,750 km2).

    This means that smallholder farmers will be better able to feed their families and sell their surplus crops. This allows them to improve their living conditions and livelihoods and build resilience to climate change.

     “This study to map underground aquifers is the first of its kind in Niger. We are amazed by the results of the study, as the available groundwater makes Niger the most groundwater-rich country in the Sahel,” said Diafarou Moumouni Ali, the Supervisor of this activity for MCA-Niger.

    Adamou Hassane, a hydrologist who participated in the study, added that “these results motivate us for the next steps which will be to decide on the use of these aquifers to increase crop yields for the benefit of all Nigeriens-

    Backround

    The initiative is within the context of the MCC’s $442.6 million Niger compact program aimed at addressing two major constraints to economic growth and investment in Niger: lack of access to water for productive uses and physical access and institutional barriers to trade.

    Niger is said to be highly vulnerable to the changing climate and regularly experiences extremes: floods give way to extended droughts, with a backdrop of low and unpredictable rainfalls. This results in unproductive agricultural lands and is causing widespread food insecurity across the country.

    According to the World Food Programme, more than 4.4 million Nigeriens– almost 20 percent of the population– are food insecure and nearly half of children under age 5 suffer from acute malnutrition

    The Context 

    In partnership with the Government of Niger, the MCC compact is increasing rural incomes by improving the sustainable productive use of natural resources for agricultural production and improving trade and market access for agricultural products. The compact has the potential to benefit approximately 3.9 million people.

    For more insights, your favorite, Eco-Enviro News Africa, magazine got the man behind the scientific research driven innovative technological solutions to unearthing the hidden ground water aquifer goodies of countries worldwide with the most recent, being in Niger desert making her the most groundwater rich country in the Sahel region, Dr. Alain Gachet, Founder/ CEO, RTI Explorations.

    The WATEX® System, an algorithm combining spatial, geophysical, geological and climatic data, was invented, tested worldwide and implemented by the team of Dr. Alain Gachet, who is also a former explorer of Elf Aquitaine and founder in 1999 of RTI Exploration.

    Now read on for the details of our exclusive Interview with Dr. Gachet

    1.EENA: Courtesy RTI’s three years painstaking research and hard work in the Niger desert, the country is today crowned as the most groundwater rich country in the Sahel region of Africa. What was the motivating factor behind the project and could you share this most exciting moment with our readers?

    AG The motivating factor is to prove that there are solutions to alleviate the consequences of Climate change and create prosperity in a country badly struck by drought and threatened by food insecurity.

    Our WATEX system invented by RTI Exploration allowed us reveal the invisible and quantify new groundwater resources by billions of cubic meters from shallow depths (ranging from 5 to 60 meters) to deeper depths (from 60 m to 500 meters) with almost 2 million hectares of arable soils not cultivated today: people could not imagine that such huge groundwater quantities were lying under their homes, ready for use and to change their lives.

    Beside the surprise and excitement of such discoveries, is to experiment the power of science combined to brain, thanks to the financial support of the US Government. That is the way to save millions of persons and change the destiny of a whole country and more than that, restore hope to the new generation of farmers and herders.

    If little water brings war and conflicts around wells, a lot of water can bring peace through prosperity. That is the ultimate goal of my company expressed through my next book: WATER AND PEACE

    2.EENA: Is Niger the first African country to ever benefit from the exploits of RTI, or other countries preceded her and what were the statistics?

    No, Niger is a part of our exploration field spreading from Afghanistan to South America with a drilling success rate reaching 98% based on 2700+ wells since the Darfour crisis in Chad and Sudan in 2004.

    3.EENA: After Niger which other African country or countries are on RTI’s list to benefit from its game changer technology?

    AGI am not allowed yet to answer to such a strategic question

    4.EENA: What was the motivating factor behind your switchover from mineral exploration to water exploration as a globally reputed mineral exploration geologist ?

    AG  I learnt a lot of geosciences  and I made lots of discoveries during my 20 years of oil exploration, and a lot more in diamonds and gold exploration worldwide. But I understood since the Darfur crisis in early 2004, that we were driving to hell with the Climate Change which would spread like a fireball far beyond Sudan and Chad very soon, because ultimately, you don’t eat gold and diamonds and you don’t drink oil. My straight answer was to find this invisible water using my former exploration tools combined with a new generation of satellites to bring quick and efficient responses to what appeared aa a new challenge for humanity.

    5.EENA: Could you compare and contrast the socio-ecological cost associated with the two exploration divides vis-à-vis the on-going discourse on sustainable development?

    AG We are aware of the impact of mining activities on the environment with human and social associated costs.

    Nevertheless, any civilization needs and minerals and I remain an Engineer using science to cope with any challenge. We can produce commodities in a cleaner way: bringing water to the mining sites will offer new sustainable benefits for the environment such as reforestations, soils remediation using bacteria and fungi (mycorrhization).

    People call me Dr. Gachet but I am not the doctor of humans, but doctor of the Earth, finding the invisible water to heal and clean the wounds inflicted by humanity to the Earth: ESG commitment remains of our ultimate goal.

    EENA: Thank you very much for your time

     

     

     

  • Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), Signs Landmark Bank Guarantee Cooperation MoU with Fonds Africain de Garantie et de Coopération Economique (FAGACE)

    Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), Signs Landmark Bank Guarantee Cooperation MoU with Fonds Africain de Garantie et de Coopération Economique (FAGACE)

    This MoU aims to facilitate the cooperation between ICIEC and FAGACE, with a view to increasing the foreign and domestic direct investments towards member countries common to both institutions
    JEDDAH, Kingdom of Saudi Arabia, May 13, 2023/ — The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (www.ICIEC.IsDB.org), the Shariah-compliant multilateral insurer and member of the Islamic Development Bank (IsDB) Group, signed a landmark MoU with Fonds Africain de Garantie et de Coopération Economique (FAGACE) – the African Guarantee and Economic Cooperation Fund.

    The MoU was signed by Mr. Oussama Kaissi, CEO of ICIEC, and Mr. Mouhamadou Al Amine DIA, Director of Risk Management, FAGACE on the sidelines of the 2023 IsDB Annual Meetings on 10-13 May 2023 at the Ritz-Carlton Hotel in Jeddah, Saudi Arabia.

    This MoU aims to facilitate the cooperation between ICIEC and FAGACE, with a view to increasing the foreign and domestic direct investments towards member countries common to both institutions. This will be attained through the establishment of mechanisms guaranteeing risks related to investment, financing of banking institutions and regional and sub-regional SMEs. It is also expected to facilitate  international trade transactions involving banks of member countries.

    FAGACE is a pioneer in the field of bank guarantees. It is a pan-African institution established on 10 February 1977 and based in Benin. It has 14 member states, almost all of which are also member countries of the IsDB and ICIEC. Since inception, according to Director General Ngueto Yambaye, FAGACE has issued bank guarantees totalling CFA3,000 billion (US$4.9 billion) in support of trade and investment flows for transactions and projects in member states.

    Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

     

  • Annual Investment Meeting Signs MoU with Gold Standard to promote dialogue for sustainable development

    Abu Dhabi, United Arab Emirates, 11 May 2023: The Annual Investment Meeting (AIM), one of the world’s largest investment platforms, and Gold Standard, a climate and development organization, have signed a Memorandum of Understanding to promote dialogue for sustainable development at the 12th edition of the conference, which ended its three-day run yesterday, May 10, in Abu Dhabi.

    The partnership with Gold Standard will further AIM’s commitment to sustainable development by having Gold Standard retire carbon credits to offset the emissions generated by the event’s venue, with a maximum limit of $30,000.

    “At Gold Standard we are proud to help this year’s Annual Investment Meeting and to take responsibility for the unavoidable emissions associated with the event by retiring carbon credits on its behalf. At Gold Standard we are taking the lessons we’ve learned from our 20 years in the carbon market, and building financial tools to accelerate investment in sustainable development and carbon emission reduction projects. Events like the AIM Congress are important moments for investors from around the world to get together and look for new opportunities to make an impact,“ said Margaret Kim, Chief Executive Officer of Gold Standard.

    “We are pleased to announce this partnership with Gold Standard, as we believe that closer cooperation and collaboration will further the achievement of our mutual interests and objectives. This MoU will facilitate the promotion of sustainable development and help us create innovative new programs and tools that can be integrated to deliver impacts at a greater scale,” said Walid A. Farghal, Director General of Annual Investment Meeting.

    Gold Standard was established in 2003 by WWF and other international NGOs to ensure projects that reduced carbon emissions featured the highest levels of environmental integrity and also contributed to sustainable development.

    With the adoption of the Paris Climate Agreement and the Sustainable Development Goals, the NGO has launched a best practice standard for climate and sustainable development interventions, Gold Standard for the Global Goals, to maximise impact, creating value for people around the world and the planet we share.

    As part of the agreement, Gold Standard will retire credits froma project that supports the provision of safe water to hundreds of households within the Central Province of Zambia. By providing safe water, the project will ensure that households consume less firewood during the process of water

    purification and as a result there shall be a reduction of carbon dioxide emissions from the combustion process.

     

  • Annual Investment Meeting Highlights Digital Transformation, Financial Inclusion and Sustainable Finance in the Arab World

    Annual Investment Meeting Highlights Digital Transformation, Financial Inclusion and Sustainable Finance in the Arab World

    Experts provided insights on the opportunities and challenges of digital transformation in the financial sector within the Arab world

    Abu Dhabi, UAE, May 2023:  The 12th edition of The Annual Investment Meeting (AIM) hosted interactive and insightful discussions on digital transformation, financial inclusion and sustainable finance in the Arab world at the “Future Finance Forum,” which took place at the Sustainability Room of the Abu Dhabi National Exhibitions Centre.

    The opening ceremony featured welcome remarks from high-level dignitaries such as Rajaa Kammouny, Director & Advisor at the Secretary General Office – Union of Arab Banks; Dr. Wissam H. Fattouh, Secretary General – Union of Arab Banks; Mohamed Mahmoud Ahmed El-Etreby, President, Banque Misr; and H.E. Ahmed Aboul Gheit, Secretary General – League of Arab States.

    Kammouny, the host and Director/Advisor at the Secretary General Office of the Union of Arab Banks, discussed the challenges that they are currently facing and will face in the future. She emphasized the need to be prepared for all these challenges. Dr. Fattouh mentioned that their focus will be on investment opportunities and the sustainability of those investments. He highlighted that steps are being taken to ensure that the challenges they face are being solved.

    El-Etreby, for his part, discussed in this forum the various ways to enhance business and the challenges that businesses are facing, especially due to the pandemic. He acknowledged that the pandemic has changed the economic world and that digital advancements have helped them become more advanced. H.E. Aboul Gheit expressed his gratitude to the Government of the UAE for their efforts in making the forum possible. He mentioned that they are already in the process of achieving digitalization and need to reassess the obstacles they are currently facing.

    This was followed by a panel discussion on ‘Digital Transformation of Financial Sectors in the Arab World and the Role of Financial Technology in Economic Diversification’. Experts in this session provided insights on the opportunities and challenges of digital transformation in the financial sector within the Arab world.

    This session was led by Anwer Kotob- Moderator, Chief Digital/ Technology Officer, People Leader, United Arab Emirates; Hossam Heiba, General Authority for Investment and Free Zones; Malachi Halliday, CEO & Founder – Halliday Growth; and Rodrigo Garca De La Cruz, Founder & CEO – Finnovating.

    Kotob discussed the role of Fintech in the Arab world and how it plays a crucial role in the development of financial countries. Heiba from GAFI discussed the digital transformation of sectors and the efficiency of Fintech in comparison to traditional methods. He also talked about how digitalization helps government services prosper during the pandemic and promotes investment opportunities using digital platforms.

    Halliday emphasized the significance of startups in economic diversification, stating that access to working capital is crucial for their success. He explained how his company helps solve this challenge by granting easier access to working capital. De La Cruz, the Founder and CEO of Finnovating, emphasized the importance of collaboration and innovation in accelerating growth for companies. He also discussed the top three techs being used in Fintech, including AI and blockchain, and how Finnovating can help Fintechs find the right partners to work within the UAE.

    In addition, there was a presentation by H.E. Su Xing, the Secretary-General of the Organizing Committee of the Boao Summit Forum on World Financial Firm Technology from the People’s Republic of China, who highlighted how financial technology has become an important support for the development of countries around the world and how they are using digital technology, data resources, and intelligent technology to promote digitalization. He described the ‘Shenquan Forecasting System,’ which has an accuracy rate of up to 85% and helps guide financial institutions and individual users to increase their accounts up to 4 folds in 13 trading days.

    He also mentioned how China’s financial technology companies are launching various innovative products and services, such as real-time global market forecasting technology, digital currency, artificial intelligence, blockchain, cloud computing, and big data, and have brought these financial technologies into the UAE.

    The digital transformation of the financial sector in the Arab world has been accelerating in recent years. With the rise of financial technology (fintech), traditional financial institutions are increasingly adopting digital solutions to enhance their services and reach new customers. Fintech is also playing a significant role in economic diversification in the region, helping to create new business opportunities and stimulate innovation.

    Experts in this session highlighted that by leveraging advanced technologies such as blockchain, artificial intelligence, and machine learning, fintech startups and established players are transforming the way financial services are delivered in the Arab world, making them more accessible, efficient, and secure. This, in turn, is fuelling economic growth and creating a more diversified and resilient economy in the region.

    -ENDS-

  • Annual Investment Meeting Highlights: ‘One Day of the World’ Masterpiece and Impactful Sessions from Innovation and Investment Track

    Annual Investment Meeting Highlights: ‘One Day of the World’ Masterpiece and Impactful Sessions from Innovation and Investment Track

    Abu Dhabi, UAE, 10 May 2023:  The 12th edition of the Annual Investment Meeting (AIM) featured a one-of-a-kind masterpiece created by the renowned artist Nadmid Sergelen, capturing the Cultures and Accomplishments of Mankind while illustrating the Synergy and Diversity of Life on Earth called ‘One Day of the World,’

    The painting is unique for its Historical Significance and Value. The fragility of the natural flora and fauna, as well as the Global Cultural and Ethnic Diversity, are symbolized through this masterpiece. It is the longest painting ever done in “Mongol Zurag,” 21meters by 2.5 meters with a total area of 52.5 sqm and the artwork features a world map with all 193 countries represented, painted in exquisite watercolor and acrylic on white canvas.

    The painting took 21 years to complete, from 1998 to 2019 and currently is under protection in a special vault at the National Art Gallery of Mongolia. The artwork was the first auction of digital versions of five countries, which were sold for a total of USD 125,000.

    In addition, the Annual Investment Meeting hosted impactful sessions under the Investment and Innovation Tracks at the Abu Dhabi National Exhibition Centre.

    Day 2 and 3– Investment Track

    Day 2 commenced with a session on ‘Investment Monitor’s FDI Report 2023: A focus on the Middle East & Africa’ which provided a deep understanding of the investment landscape in the Middle East and Africa.  In addition, there was a report launch, by Glenn Barklie from Global Data who discussed the focus on green field operations, which involves expanding companies and creating a larger global presence. The forum also witnessed a session titled ‘Bridging the Gap: Establishing Strong International Relationships and Building Trust’. Next in line was a session on ‘Digital Transformation: Integrating Innovative Technologies in FDI to Increase Value’.

    Another impactful session was ‘Towards Investment Facilitation for Development: How a New Agreement Can Help Grow FDI Flows and Prosperity’. Next was a session on ‘Quality FDI: Attracting Meaningful Investments for Economic Growth’. Another important session was ‘Boosting Capital Markets to Develop Market Efficiency Through FPI’. Foreign Portfolio Investments are important to any economy. FPIs help to strengthen and improve domestic capital markets. This session looked at how FPI are used to tackle the world’s biggest social and environmental changes.

    Next in line was a session on ‘Geopolitical Tensions: Mitigating Global Risk in your Portfolio’. This session was moderated by Adam Ward, Director, Geopolitico Insight and Counsel and included speaker as Radoslaw Domagalski, CEO, Rafako. The last session focused on ‘Leveraging Super Trends in Investment to Create Resilient Portfolios’.

    Day 3 commenced with a panel discussion on ‘Sustainable Investment Opportunities in FDI’ and also featured a discussion on ‘Moving to Net Zero and Decarbonizing your Portfolio. Additionally, there was a session on a session on ‘The Technology Track: The Effect of the 4IR and the IIoT on Boosting Industrialization Investment plans’ and an impactful session on ‘The Investment Track: Opportunities, Challenges and; Risks of Investing in Industrial Sector’.

    Day 3 Innovation Track

    The session on ‘SMEs: Sustainable Climate Finance Initiative: A new approach to finance sustainable infrastructure and agriculture projects in emerging economies’, in partnership with R20, Pegasus & Gold Standard was a highlight at the event.

    In this session, The Annual Investment Meeting (AIM) and Gold Standard, a climate and development organization, signed a Memorandum of Understanding (MoU) to promote dialogue for sustainable development. Another session on ‘Digital Economies: Implementing Industry 4.0 – Developing the Right Tools and Platforms’ focused on how digital economies are revolutionizing the way businesses operate, with Industry 4.0 leading the charge.

    In addition, there was the launch of MatchGPT: The world’s first AI- Powered Matchmaker for Global Tech Companies. Finnovating has unveiled MatchGPT®, the world’s first Match Generative Pre-Trained Transformer focused on connecting tech companies to accelerate B2B business and collaborations for technology and innovation. It has been developed using OpenAI and AI-owned algorithms and fuelled by exclusive data from the Finnovating Platform, an AI-Deal Matching Platform for Tech Companies. The highly anticipated launch took place today on May 9th, captivating thousands of investors and tech leaders at the AIM Congress in Abu Dhabi, with the support of the Abu Dhabi Ministry of Industry & Advanced Technology

    The session, ‘SMEs: Navigating Investments in the International Landscape, and the Adaptation to Evolving Needs and Expectations: SMEs Investment Challenges and Opportunities’ focused on how

    investments in international landscape have become more complex as the world responds to recent events.

     

  • Annual Investment Meeting, Emirates Angel Investors Association partner to strengthen efforts towards promoting startup activities

    Annual Investment Meeting, Emirates Angel Investors Association partner to strengthen efforts towards promoting startup activities

    The collaboration between AIM and EAIA is a significant step towards creating a vibrant ecosystem for innovation, entrepreneurship, and investment in the UAE

    Abu Dhabi, United Arab Emirates, May 10, 2023: The Annual Investment Meeting (AIM) and Emirates Angel Investors Association (EAIA) have come together to strengthen their efforts towards promoting startup activities through signing a partnership agreement.

    The collaboration between AIM and EAIA is expected to create a positive impact on the UAE’s startup ecosystem, which has been rapidly growing over the past few years. The partnership will provide startups with access to a wide network of investors, as well as the necessary resources and mentorship to help them grow and succeed.

    Commenting on the partnership, Mr. Walid A. Farghal, Director General of AIM, said, “The purpose of the partnership is to enhance investment opportunities in the UAE. By partnering with the Emirates Angel Investors Association, we hope to facilitate this growth and help create an environment where innovation, entrepreneurship, and investment can flourish. We are confident that this partnership will provide new opportunities for investors to get involved and create a more dynamic ecosystem, that will enable individuals and organizations to be inspired to invest in the region.”

    AIM has been at the forefront of promoting investment in emerging markets, and with this partnership, it aims to foster an environment of innovation and entrepreneurship in the UAE. The EAIA, on the other hand, has been promoting angel investment and mentorship in the UAE since 2010. Together, the two organizations aim to create a synergy that will provide startups and entrepreneurs with the necessary support to take their ideas to the next level.

    As part of the partnership, AIM and EAIA will also be organizing events, workshops, and training programs to help startups and entrepreneurs gain a deeper understanding of the investment landscape in the UAE. The events will bring together prominent investors and entrepreneurs from around the world to share their insights and experiences, creating a vibrant ecosystem for innovation and investment.

    The collaboration between AIM and EAIA is a significant step towards creating a vibrant ecosystem for innovation, entrepreneurship, and investment in the UAE. It is expected to attract a large number of investors and entrepreneurs to the region, creating new opportunities for growth and development.

  • Humanity International Investments: DRC and UAE to Collaborate on Economic Cooperation, Investment, and Infrastructure as discussed at Annual Investment Meeting

    Humanity International Investments: DRC and UAE to Collaborate on Economic Cooperation, Investment, and Infrastructure as discussed at Annual Investment Meeting

    Abu Dhabi, United Arab Emirates, May 10, 2023: The 12th edition of the Annual Investment Meeting (AIM) announced today that the Democratic Republic of the Congo (DRC) and the United Arab Emirates will collaborate on various projects focused on economic cooperation, investment, and infrastructure in addition to promoting humanitarian assistance efforts.

    This forum was led by Aly Ramji, the General Partner at Humanity International Investments, and included several high-profile speakers as H.E. Mrs. Marie Ndjeka Opombo, the Ambassador of the Democratic Republic of the Congo to the United Arab Emirates, Rashid Al Taneji, Director of Trade, Marcel Kanda, Chief of Staff of the Planning Ministry of Congo, John Kabeya Shikayi, Governor of Central Kasai, Malo Mobutu, Governor of North Ubangi, Governor Jean Claude Mabenze of South Ubangi, Dr. Guy BANDU Governor of Central Congo and Governor Jean Robert Nzanza Bombiti of Bas Uele province .

    This session highlighted various reconstruction projects and collaborations with stakeholders as well as focused on a partnership between Congo and the UAE that is aimed at investing in gold. The session highlighted the formation of a joint venture with the Minister of Finance and Treasury with 55% for the UAE and 45% for Congo, which would focus on gold.

    The session also discussed the significant 45% bilateral growth rate in trade between the UAE and the DRC. The UAE is seeking potential partners to invest in the DRC and has signed agreements with India, Israel, Turkey, and Indonesia, and is now looking forward to enhancing relations with African countries as well, including the DRC.

    Marcel Kanda, Chief of Staff of the Planning Ministry of Congo, expressed his ambition for agricultural transformation in the country by developing a value chain in agriculture by 2040, aiming to position Congo as an emerging country. The government of Congo is committed to implementing structural reforms that focus on improving infrastructure and creating a conducive business environment to attract investors.

    In addition, the forum also highlighted the agricultural and mining potential of the Central Kasai province, citing that the region has 8,000 acres of fertile land and favorable natural conditions that allow for the possibility of producing crops up to three times a year. It also emphasized the agricultural and mining potential of the North Ubangi province and highlighted the natural resources of gold and diamonds in the region, as well as its involvement in various projects related to agriculture and infrastructure.

    Lastly, the session also provided the importance of developing the agriculture in Bas Uele for its vast forests and favourable climate conditions, which can support the cultivation of various crops. The governor’s vision is to make the DRC one of the greatest countries in terms of agriculture and attract expertise and business investment in the sector.

    In conclusion, this partnership will open doors to investment and trade opportunities that will benefit both countries while promoting stability and development in the region.

     

  • Admirals Expands Global Presence with Opening of New Office in Nigeria

    Admirals Expands Global Presence with Opening of New Office in Nigeria

    Global fintech player expands its presence in the African market

    8 May 2023, Lagos – Admirals, a global fintech leader with 22 years of experience and expertise, has announced the establishment of its the physical presence in Nigeria, aiming to further position itself as a major financial services provider on the African continent.

    Admirals offers a wide range of financial products and services to the Nigerian traders, such as trading with stocks, forex and CFDs on indices, metals, energies, stocks, bonds, and digital currencies. It is also set to boost financial literacy in the region with the help of its educational materials such as courses, webinars, seminars, e-books to name a few.

    The inaugural event was held in Lagos at the end of April, featuring prominent financial services industry experts, Boriss Gubaidulin, Admirals Africa Director, Davies Babalola, Admirals Global Sales Team Lead, and Nelson Daramola, stockbroker and authorised dealer on the Nigerian Exchange Limited (NGX), confirming their commitment to educating and empowering traders with the knowledge and tools needed to succeed in the financial markets.

    Expressing his excitement at the launch event Boriss Gubaidulin, Admirals’ Africa Director, and a veteran in the financial industry said, “We are extremely thrilled to have opened another hub on the African continent.”

    “With Admirals being a well-regulated and renowned global fintech company, we plan to expand our conventional trading by granting access to international financial markets and educational resources in Nigeria,” he continues.

    “Our end goal remains the same, and that is to enhance financial accessibility and literacy for traders in the local region by providing them with strong financial services and support. Admirals is looking forward to helping the growth of our traders, investors, partners, and anyone who is interested in expanding their financial knowledge,” Gubaidulin said.

    Admirals’ Nigeria Manager and Sales Team Lead, Davies Babalola, commented on the launch by stating, “We have received significant traction from traders in Nigeria, which prompted us to establish a local presence to better support our community of local traders in Nigeria.”

    “With this launch we are reiterating our goal to allow traders to safely engage in online forex trading in developing countries, and to diversify their investment portfolio with Admirals’ tailor-made solutions,” Babalola said.

    The Admirals launch event presented attendees with an engaging opportunity to learn about the Admirals brand and the world of trading and investing. Attendees were also informed about the Admirals special trading features such as the Welcome bonus and the No Deposit Bonus, for new and advanced traders to sign up and start trading.

  • Côte d’Ivoire: Gninlnagnon Koné dreams of supplanting the leading players in food supplements in Côte d’Ivoire with his Chérubins baby formula

    Côte d’Ivoire: Gninlnagnon Koné dreams of supplanting the leading players in food supplements in Côte d’Ivoire with his Chérubins baby formula

    Cherubins formula is made from brown or black rice, which is high in fibre and also an excellent antioxidant
    ABIDJAN, Ivory Coast, May 10, 2023/ — Even as a child, Gninlnagnon Koné , a young man from Katiola in north central Côte d’Ivoire, liked to follow his parents, who grew tubers and maize, to their farm.

    Today, an engineer in agricultural business management, he says, “When I became an engineer, I realised that our agricultural producers still face the same difficulties with processing their products. People work hard but ultimately their products are undervalued and sell poorly. It made me want to change things. I decided to process these products to create added value and give farmers the chance to live a better life from the fruits of their labour,” he explains.

    He too tried hard to set up an agricultural business without success. That is, until he encountered the Enable Youth Côte d’Ivoire project.

    “My sole idea in coming to the Higher School of Agronomy (ESA) in Yamoussoukro, the country’s political capital, was to get access to tools that would enable me to become a real agricultural entrepreneur as I’ve always dreamed,” he says, standing in front of a machine that roasts tiger nuts and maize.

    Koné’s food supplement for babies—named Cherubins— is a formula based on rice and tiger nuts. It also contains agricultural ingredients that set it apart from other food supplements available in Côte d’Ivoire, a market dominated by major brands, as Koné – good salesman that he is – hastens to add.

    “The product is a fortified infant formula, made with 100% highly nutritious local agricultural products. It complies with all World Health Organization (WHO) standards in terms of infant nutrition. And it’s identical to all the imported infant formulas that flood our markets,” he explains.

    “It’s an alternative we’re offering to mums to ensure that children transition safely from breastmilk to solid food,” adds Koné.

    Packed in 200g bags and then into attractive little blue boxes decorated with tiger nuts and grains of rice, Cherubins formula is made from brown or black rice, which is high in fibre and also an excellent antioxidant.

    The rice is combined with other locally produced cereals, such as tiger nuts and soya. This adds lipids, proteins and carbohydrates, he explains.

    “We also add mineral and vitamin supplements derived from other local products, such as roselle, moringa, carrot, mango and sometimes ginger to give the formula – which tastes amazing – a special flavour,” Koné adds.

    “We researched the market for infant formulas and developed a strategy to enable us to penetrate the market by meeting consumer expectations. We’re now ready to tackle it, with a well-honed strategy, solid market research and a number of test products. It all points to our being able to compete with the products already on the market,” he explains.

    Set up by the government of Côte d’Ivoire with funding from the African Development Bank, the Enable Youth project is a national programme that seeks to attract young people into the agricultural sector. Its primary aim is to support young graduates to create businesses all along the agricultural value chain.

    As well as offering a six-month training course, the project will provide partial funding for 20 young entrepreneurs to set up their businesses.

    Subsistence agriculture plays an important role in the economy of Côte d’Ivoire, the world’s leading cocoa producer. The authorities now want to see agricultural products processed locally to create added value for the country’s economy which, with over 7% annual growth since 2013 – excluding the Covid-19 years – remains one of the world’s most dynamic economies.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    SOURCE
    African Development Bank Group (AfDB)