Inside

AfDB Launches Youth Advisory Group

AfDB Launches Youth Advisory Group

Africa, Economy, Inside, Youth
The President of the African Development Bank Group (AfDB) Dr. Akinwumi Adesina has launched the Presidential Youth Advisory Group (PYAG) to provide insights and innovative solutions for job creation for Africa’s youth, as outlined in the Bank’s Jobs for Youth in Africa Strategy (JfYA). The Jobs for Youth in Africa initiative aims at creating 25 million jobs and impacting 50 million youth over the next 10 years by equipping them with the right skills to get decent and meaningful jobs. It is currently the largest effort going on for youth employment in Africa today. The advisory group, inaugurated on the sidelines of the 6th EU-Africa Business Forum in Abidjan on Monday, according to a statement on Monday, would work with the Bank to create jobs for Africa’s youth. “This is a huge
Global Spectrum Listing Adds N4bn to NSE Market Capitalisation

Global Spectrum Listing Adds N4bn to NSE Market Capitalisation

Capital Market, Economy, Finance, Inside
The listing of the shares of Global Spectrum Energy Services (GSES) Plc added N4 billion to the market capitalisation of the Nigerian Stock Exchange (NSE). A total of 800 million shares of GSES were listed on the NSE yesterday at N5 per share amounting to N4 billion. Speaking at the listing ceremony, the Managing Director/CEO of GSES, Mr. Colm Doyle said the company is embarking on expansion and diversification of its product base to further strengthen the business capacity and profitability of the company. Doyle said that apart from the expansion, the firm has also decided to give out minimum of 30 per cent of its profit before tax as dividend to its shareholders. According to him, the company has acquired a prime waterfront site in Port Harcourt for the development of a 50 milli...
AB INBEV to Set up over $250 Million Facility in Nigeria

AB INBEV to Set up over $250 Million Facility in Nigeria

Business, Features, Inside, News
The Nigerian brewery industry may soon receive a boost, as the world’s largest brewer, with 30 per cent global market share plans to set up its African second largest facility in Nigeria, a replica of what is obtainable in South Africa. AB INBEV has completed arrangement to invest over $250million in the Nigerian beer industry by Q2 2018, giving it a competitive edge over other African competitors in the same business. AB INBEV is a multinational company, operating in 25 different countries; with well-known brands are Budweiser, Bud Light, or Stella Artois. Besides, the company also announced a proposed merger of its three Nigerian subsidiaries; International Breweries Plc, Intafact Beverages Ltd., and Pabod Breweries Ltd. Speaking at a media briefing recently in Lagos, the Man
Group Restates Commitment to SMEs Growth, Poverty Reduction

Group Restates Commitment to SMEs Growth, Poverty Reduction

Business, Capital Market, Economy, Inside, Start-ups
With a vision to establish Nigeria as a global economic force through empowerment and wealth creation, Stanford Seed Transformation Network Nigeria (SSTN) has restated its commitment to empower more start-ups to build strong processes and sound governance principles to ensure poverty in the country is tackled to its barest minimum. President, Stanford Seed Transformation Network, Nigeria, Mrs Nwamaka Okoye outlined this vision during the group’s first anniversary and end of year dinner in Lagos. Themed “Refresh”, the keynote speaker at the event and Chairman, MTN Nigeria, Dr Pascal Dozie advised entrepreneurs to remain focused, have a great mission in order to stay afloat and succeed in business. He noted that apart from being intelligent, three other key requirements needed to be
Johnson & Johnson Names Winners of First Africa Innovation Challenge

Johnson & Johnson Names Winners of First Africa Innovation Challenge

Corporate Reports, Innovation, Inside
Competition Part of Company’s Eighty-Five Year Commitment to Supporting Entrepreneurs, Science Education Opportunities, and Health Systems across the Continent Johnson & Johnson (www.JNJ.com) today named the winners of the first Africa Innovation Challenge at the Global Entrepreneurship Congress. The initiative, which received nearly 500 submissions from innovators and entrepreneurs across the continent, sought the best ideas for new, sustainable health solutions that will benefit African communities. The Johnson & Johnson Family of Companies comprises the world’s largest healthcare business and its presence in Africa dates back to 1930, including business operations, public health programs and corporate citizenship. The Africa Innovation Challenge is part of the company’s compr
The Next Einstein Forum launches search for 54 young African science and technology champions

The Next Einstein Forum launches search for 54 young African science and technology champions

Enteprise, Innovation, Inside, Technology
The Next Einstein Forum (NEF) (http://NEF.org) has launched the search for fifty-four science and technology Ambassadors, one champion from each African country. The selected NEF Ambassadors will join the NEF Fellows Class as part of the NEF’s Community of Scientists NEF Ambassadors attend the NEF’s signature event, the NEF Global Gathering, the second edition of which will be held in March 2018 in Kigali, Rwanda. They will have the opportunity to network with emerging and world renowned scientists and technology leaders as well as industry and policy leaders at an innovative gathering that will focus on how science and technology can solve global challenges, boost sustainable growth and accelerate human development. “The NEF Global Gathering 2016 held in Senegal was a resounding suc
American students donate ‘The Shoe that Grows’ to Omaungete Mobile School in Opuwo

American students donate ‘The Shoe that Grows’ to Omaungete Mobile School in Opuwo

Inside, Life
Inspired by the moto ‘The Shoe that Grows’ initiative, PLU students, who are currently on an exchange study group in Namibia, shipped 100 pairs of shoes and donated them to the pupils of Omaungete Mobile School In the past, the school pupils of Omaungete Mobile School in the Kunene Region would set off to school barefoot. With help from six education students from Pacific Lutheran University (PLU) in the city of Tacoma, Washington in the United States of America, they are now able to walk to school in comfort and safety. Inspired by the moto ‘The Shoe that Grows’ initiative, PLU students, who are currently on an exchange study group in Namibia, shipped 100 pairs of shoes and donated them to the pupils of Omaungete Mobile School. Made of leather and compressed rubber similar to
AFCON Tournament Boost for Gabon’s Economy

AFCON Tournament Boost for Gabon’s Economy

Inside, News
As the African cup of Nations 2017 kicks off in Gabon, African football will once again take the centre stage as the continents brightest stars in football gather to compete for the prestigious title  of Africa's best footballing nation. However, besides offering a month of entertaining football, the 16 team tournament offers considerable economic prospects for the central African country. The country will make use of four venues for the 16-team tournament, which will be played in January and February. Libreville and Franceville, which were used in 2012, as well as Port Gentil and Oyem, will play host to the tournament. Gabon offers a rich tourist attraction boasting rain forests brimming with wildlife, most notably lowland gorillas and forest elephants. A host of national parks a
Mohammed Dewji is Africa’s Youngest Billionaire

Mohammed Dewji is Africa’s Youngest Billionaire

Business, Inside
Forbes has listed Mr Mohammed Dewji as Africa's youngest billionaire for 2016/17. With an estimated wealth of $1.4 billion accumulated from his diversified businesses, Mr Dewji, 41, is  amongst the 21 richest people in Africa. Mr Dewji is a Tanzanian businessman, entrepreneur, philanthropist, and former politician. He serves as the President and CEO of MeTL Group, a Tanzanian conglomerate founded by his father in the 1970s Forbes published its annual African rich-list, listing the 21 richest people living in Africa who make up a net worth of $70 billion. The other 10 youngest billionaires in Africa are from Nigeria (5), Egypt (3) South Africa (1) and Morocco (1) with the average of below 63 years.
TONY ELUMELU FOUNDATION ANNOUNCES 3rd ROUND OF TEF ENTREPRENEURSHIP PROGRAMME

TONY ELUMELU FOUNDATION ANNOUNCES 3rd ROUND OF TEF ENTREPRENEURSHIP PROGRAMME

Enteprise, Features, Inside, Recommended for you
On January 1, 2017, The Tony Elumelu Foundation (TEF) will begin accepting applications for the third round of the TEF Entrepreneurship Programme. The Programme is the Foundation’s 10-year, US$100 million commitment to training, mentoring and funding 10,000 African entrepreneurs. The application portal will be open until midnight (WAT), March 1, 2017. Entrepreneurs must complete the online application and selection is on a rolling basis, so early application is encouraged. TEF Founder Tony O. Elumelu said: “I believe the seeds we are planting through the Programme will transform Africa. Two years on, it is clear that we have found a key to unlocking Africa’s potential for economic transformation. As our entrepreneurs grow their own businesses and realise their ambitions, so too does