Lagos Mainland Trade Fair: Entrepreneurs gain export skills - ITREALMS

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The Nigerian Export Promotion Council (NEPC) played a pivotal role at the maiden edition of the Lagos Mainland Trade Fair, held on September 6 and 7 at Yard 158, Kudirat Abiola Way, Ikeja, by equipping entrepreneurs with vital skills for international trade.

At the two-day fair, Senior Trade Officers from NEPC, Nancy Okpa and Olamide Olatunde, provided step-by-step guidance on export procedures, stressing the importance of compliance with international standards. 

Lagos Mainland Trade Fair set to take place - ITREALMS

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Lagos Mainland Trade fair is set to ignite economic growth and business opportunities, reports ITREALMS.

The vibrant city wide event designed to connect communities with businesses, services and institutions that will drive value and economic growth, takes place on 6th and 7th of September at Yard 158, Kudirat Abiola Way, Ikeja Lagos.

Aisha Maina secures $40m investment to launch Africa-Caribbean trade corridor - ITREALMS

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... New Deep-Water Port to Create Digital Trade Corridor, Bypassing European Detours

The Managing Director of Aquarian Consult and founder of Gemini Integrated Commodities, Aisha Maina, has completed a week of high-level engagements that secured a landmark $40 million investment quote to establish a commercial trade corridor between Africa and the Caribbean, reports ITREALMS.

This investment, anchored by a new deep-water port, is a major step toward building what Maina described as a "physical backbone of a trade bridge that has been too long in the making."

Customs Area II Command Onne launches B'Odogwu, for trade efficiency, revenue collection - ITREALMS

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The Nigeria Customs Service Area 11 Command, Onne, Port Harcourt Rivers state says it has launched B'Odogwu, an indigenous technology called the Unified Customs Management System for modernization of Customs operations, enhance compliance and facilitate trade.

This was contained in a press release made available to our correspondent, Tuesday in Port Harcourt by the Command's Public Relations Officer, Theophilus P Duniya.

Afreximbank Trade Finance Seminar'24 showcases speakers - ITREALMS

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The Afreximbank Trade Finance Seminar 2024, holding between November 5-7 at the Windhoek Country Club Resort, Windhoek, Namibia, has announced speakers lineup, reports ITREALMS.

The seminar, ITREALMS gathered would be followed by the Factoring Workshop on November 8 at the same.

UBA sponsors Lagos International Trade Fair for sixth year, reaffirms support African SMEs - ITREALMS

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The Africa's global bank, United Bank for Africa (UBA) Plc is sponsoring this year’s edition of the Lagos International Trade Fair (LITF), which marks the sixth in the series as the official financial partner, reports ITREALMS.

The LITF 2024, ITREALMS gathered is the 38th edition organised annually by the Lagos Chamber of Commerce and Industry (LCCI), and is scheduled to take place at the Tafawa Balewa Square, Lagos, between November 1st to 10th, 2024.

Trade triumphs: How export can reshape Africa's economic destiny by Reuben Kalu - ITREALMS

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In a globalized economy, businesses are constantly seeking avenues for expansion and sustainable growth. For enterprises in Africa, one strategy that holds immense potential is venturing into the realm of export. This article explores the various dimensions of exporting as a catalyst for not just business expansion but also economic development in the African context.

1. Understanding the African Business Landscape:
Overview of the current state of businesses in Africa.
Challenges faced by local businesses in a competitive market.
The need for diversification and exploration beyond local markets.

IATF: Dangote urges greater expansion of trade, investments - ITREALMS

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Continental leading entrepreneur and President/Chief Executive of the Dangote Industries Limited, Aliko Dangote has urged for greater integration of African economies and expansion of trade and investments across the continent to stimulate growth and create employment opportunities.

Speaking at the ongoing Intra-African Trade Fair 2023 holding at the Al Manara International Conference Centre, Nasr City, Cairo Governorate, Dangote, who was represented by the Group Executive Director, Stakeholder Management and Government Relations, Engr. Ahmed Mansur expressed commitment to participating and supporting both the African Continental Free Trade Agreement (AfCFTA) and the Intra-African Trade Fair.

How to steer tech agenda with social activism - ITREALMS

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The recently released Technology and Innovation Report by the United Nations Conference on Trade and Development (UNCTAD) has shown that there are some five ways social activism could steer technology agenda, especially in developing economies, reports ITREALMS.

UNCTAD in the report outlined five ways in which vigorous social activism could play a role in changing technology to become more people oriented.

UNCTAD facilitates trade, transit in developing countries - ITREALMS

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The United Nations Conference on Trade and Development (UNCTAD) has concluded training for 61 transit coordinators from 12 countries across Africa and Latin America, reports ITREALMS.

UNCTAD in its latest newsletter available to ITREALMS said its training gave boost to the capacity of national transit coordinators, easing the flow of goods across borders and strengthening economic cooperation in Africa and Latin America.

TEXUB lands in Nigeria to boost online IT trade - ITREALMS

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Dubia-based smart Business-To-Business (B2B) solution provider, Texub, has landed into the Nigeria's electronic commerce industry with its market place platform, reports ITREALMS.

Disclosing this in a chat with ITREALMS in Lagos on Tuesday, the Chief Executive Officer (CEO) Texub, Mr. Suchit Kumar, said that the company's presence in Nigeria makes it the fifth footprint since formal launch some five months ago.

First Bank, NESG join hands on 25th NES 2019 -ITREALMS

ITREALMS:

First Bank of Nigeria Limited and the Nigerian Economic Summit Group (NESG) have joined hands to host the 25th Nigerian Economic Summit (NES#25), its annual flagship event, reports ITREALMS.

The Silver Jubilee edition, NESG said comes with a theme “Nigeria 2050: Shifting Gears” scheduled to hold on 7 – 8 October 2019 at Transcorp Hilton, Abuja, even as Mrs. Ibukun Awosika, Chairman, First Bank of Nigeria Limited, would speak on “Gender Empowerment” at the plenary.
ITREALMS recalls that the Nigerian Economic Summit is the foremost credible platform for public-private dialogue which enables policy makers and influencers to deliberate on issues, proffer policy options with a view to a better understanding of our national economic policy direction and growth strategies.

Further, ITREALMS gathered that some national leaders and policy influencers are attending the event including President Muhammadu Buhari, his vice president, Prof. Yemi Osinbajo, Mrs. Zainab Ahmed, Hon. Minister for Finance, Budget & National Planning, among others.

As said by the Chief Host, and Chairman of the Nigerian Economic Summit Group, Mr Asue Ighodalo, other panelists include Alhaji Aliko Dangote President/CEO Dangote Group; Mr Godwin Emefiele Governor, Central Bank of Nigeria; Bishop Matthew Kukah, Founder, The Kukah Centre; His Excellency Dr Kayode Fayemi, Chairman, Nigeria Governors Forum; HRH Muhammadu Sanusi II, The Emir of Kano; Hon. Adebo Ogundoyin, Speaker, Oyo State House of Assembly; Ibukun Awosika, Chairman, First Bank of Nigeria Limited; Hon. Mrs Hannatu Mohammed, Board Member, ICPC; Mr. Chidi Ajaere, CEO, GIG Group; Mrs Juliet Anammah, CEO, Jumia Nigeria and Mr Mauricio Alarcon, MD/CEO, Nestle Nigeria Plc .

Uboshe Uboshe/Editor

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Singapore opens Nairobi overseas centre to boost trade - ITREALMS

ITREALMS:

The Enterprise Singapore (ESG) has opened the Nairobi overseas centre to boost investments and trade, reports ITRealms.

The Nairobi Overseas Centre, ITRealms gathered, was opened by Singapore’s Deputy Prime Minister (DPM) and Coordinating Minister for Economic and Social Policies, Mr Tharman Shanmugaratnam, Kenya’s Cabinet Secretary for the Ministry of Trade, Industry & Cooperatives Mr Adan Mohamed, and Singapore’s Senior Minister of State (SMS) for Trade and Industry Dr Koh Poh Koon.

This is Enterprise Singapore’s third office in Africa, which will serve as its regional hub for East Africa. It complements Enterprise Singapore’s existing regional hubs in Johannesburg (South Africa) and Accra (Ghana). Enterprise Singapore’s Nairobi Overseas Centre will facilitate Singapore companies’ investments in Kenya and East Africa, and promote partnerships between Singapore and East African companies.

“East Africa houses some of the fastest-growing economies in the continent. Enterprise Singapore sees great potential for Singapore companies to offer their knowledge and expertise across areas such as infrastructure development and manufacturing, which are key priorities in this region. Kenya, with its stable growth and business-friendly environment, is the gateway to East Africa and we are positive that our office here will broaden our network of East African partners and strengthen the Singapore brand in the region,” said Mr Yew Sung Pei, Assistant Chief Executive Officer, Enterprise Singapore.

Currently, there are over 60 Singapore companies operating in Africa, across more than 50 countries, with US$19 billion invested in the continent. At the opening today, seven Memoranda of Understanding (MOUs) were signed between Singapore and Kenyan companies across corporate governance, e-payment, trade facilitation and natural resources.

In addition, the Nairobi Overseas Centre will allow Kenyan and African companies, including Small and Medium Sized Companies, to leverage Singapore as a gateway to capture growth opportunities in Asia. Strategically located at the heart of Asia, Singapore is in the middle of key trade flows from Europe, the United States, the Middle East, Australia and Asia, hence making a good springboard for African enterprises seeking growth in Asia.

On 12 June 2018, the Kenyan and Singapore governments signed Bilateral Investment Treaty (BIT) and Avoidance of Double Taxation Agreement (DTA) agreements to further cement bilateral economic ties. The signings were witnessed by Singapore’s Deputy Prime Minister Shanmugaratnam. Singapore will also sign a BIT and an Air Services Agreement (ASA) with Rwanda on 14 June 2018. These agreements further boost cross-border trade and investment flows, adding to Singapore’s fast-growing treaty network with Africa.

Over 150 business and government leaders from Singapore and Africa attended Enterprise Singapore’s Nairobi Overseas Centre opening ceremony. Singapore’s Deputy Prime Minister Shanmugaratnam and Senior Minister of State Koh are visiting Kenya and Rwanda from 12 - 14 June 2018. They are accompanied by 20 Singapore companies on a business mission jointly organised by the Singapore Business Federation and Enterprise Singapore.

Some of the Singapore companies that operate in Kenya include: CrimsonLogic , which is working with Kenya Trade Network Agency to design and run innovative and sustainable services to collaborate with Kenyan citizens and ecosystem. It also won the Kenya National Electronic Single Window System (KNESWS) in 2012; Pacific International Lines (PIL) , one of the first few liners in the world that provides a link from Asia/Middle East to Africa; and Red Dot Payment , which provides online payment solutions. They just signed a MOU today to provide alternative e-payment methods to Equity Bank.

Nenye Dom/GEE

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African: Moving integration closer with free trade area

Commentary@ITREALMS: 

Twenty years ago, I hoped for an Africa that would draw closer and forge forward boldly, despite a bag of mixed fortunes. Rwanda had just been blighted by genocide; the ubiquitous coup d’état still reared its ugly head in West Africa; although a tentative calm prevailed in Central Africa, political tensions simmered below the surface; Zaïre was in the throes of the ‘first Congo war’; the civil war in Somalia grew in magnitude and intensity; Ethiopia began an experiment in state-led macroeconomic planning; a democratic South Africa rose from the ashes of Apartheid, a veritable validation of the OAU’s ultimate goal of political liberation for Africa.

An interim period of positive change ensued, a growth fuelled by new media including the Internet, greater multiculturalism and a stronger attachment to democratic principles.

In March 2018, 44 of the 55 African Union Heads of State and Government enacted the African Continental Free Trade Area agreement (AfCFTA) in Kigali, Rwanda at its 10th Extraordinary Session, under the able leadership of H.E. President Mahamadou Issoufou of Niger, with H.E. President Paul Kagame of Rwanda as current AU Chairperson and H.E. Moussa Faki Mahamat, Chairperson of the AU Commission. Once in force AfCFTA will be the largest trade zone in the world, increase intra-African trade by 52% by the year 2022, remove tariffs on 90% of goods, liberalise services and tackle other barriers to intra-African trade, such as long delays at border posts.

The end of colonialism in the early 1960s created 55 African countries which cut arbitrarily across ethnic, cultural and traditional boundaries. They established the Organisation of African Unity (OAU) to promote unity and solidarity on one hand yet emphasised territorial sovereignty on the other. This hamstrung the OAU insofar as national affairs were concerned, and helped create regional economic blocks or communities (RECs) in the mid-1970s.

RECs engendered political and economic integration. The Economic Community of West African States (ECOWAS) and the East African Community (EAC) signed agreements for the free movement of goods, services and people. There are now 8 AU-recognised RECs and a number of sub-regional bodies that are actively pursuing Africa’s integration agenda.

In 1991 the Abuja Treaty established the African Economic Community (AEC), building on RECs for integration. At the 2001 OAU Summit, African Heads of States and Government adopted the New Partnership for Africa’s Development (NEPAD) as a further vector to accelerate African economic co-operation and integration. The Summit recognised the importance of OAU input into REC programme planning and implementation. In 2002, the Constitutive Act of the AU was adopted in Lomé, Togo, formally replacing the OAU.

These milestones show that African economic integration is best pursued on a regional basis.

Rethinking Africa’s priorities is urgently called for. In this regard Agenda 2063, a consolidated strategy for sustained political and economic integration and prosperity, was launched by African Heads of State and Government at the 50th Anniversary of African Unity in 2013. Agenda 2063’s first Ten-Year Implementation Plan (2013-2023) draws heavily on NEPAD’s experiences. Beyond these broad strokes in development priorities and programmes, African development must be translated into concrete action.

While business and consumer confidence have improved, investment, trade and productivity have not. This has a direct impact on both foreign and domestic investments in Africa, particularly in infrastructure. As the world’s second-fastest growing region, Africa holds much promise for those willing to invest time to study our local economies and identify opportunities presented by a booming middle class with an endless appetite for consumables.

Although the Africa Report 2017 shows that virtually all countries plan large infrastructure projects and understand the need to industrialise, Africa cannot afford to be an ‘investment risk’ for infrastructure projects that advance sustainable inclusive development.

To this end, the AU-NEPAD Continental Business Network (CBN) continues to de-risk infrastructure projects in order to attract financing, especially through Pension and Sovereign Wealth Funds. In September 2017, NEPAD and the CBN initiated an Africa-led and Africa-owned campaign to increase African asset owners’ contributions to African infrastructure from approximately 1.5% of their assets under management (AUM) to 5% of AUM. By using financial resources available on the continent and strengthening public-private partnerships, infrastructure investments should increase. The CBN has called for a more strategic engagement with domestic institutional investors in support of this campaign.

The AfCTA, is a monumental step for Africa; another significant milestone in Africa’s integration process. I have to however aptly point out that the AfCFTA was signed in Kigali the capital that experienced complete turmoil some 24 years ago but is now poised to become the futuristic “Wakanda.”

*Dr Ibrahim Assane Mayaki, a former Prime Minister of Niger, is the current CEO of the African Union’s NEPAD Agency.

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Success Stories Africa 2017: Bovi, Olakunle, Toyin, D1 to reveal trade secrets

ITREALMS:

The ace comedian, Bovi Ugboma and faabous showbiz entrepreneur cum Commissioner for Information, Ogun State, Mr. Dayo Adeneye, popularly known as D1, would lead the likes of chief executive officer (CEO), Olakunle Soriyan Company, Mr. Olakunle Soriyan and award-winning actor, Toyin Abraham to the 2017 Success Stories Africa, reports ITRealms.

According to the convener, Success Stories Africa, Mr. Isaac Oladipupo, said that being successful is a habit. Pointing out that being a mediocre is also a habit, hence, cultivation of success habits and skill to change history at the 2017 edition of the annual Success Stories Africa became imperative.

He also said that widely acclaimed as the most impacting gathering of young people in developing communities, Success Stories Africa is focused on increasing the number of empowered youths above the weaklings.

“As a people, if we don’t meet needs in the society, we won’t be needed, let alone relevant. It’s high time we stopped consuming and started looking inward to create products and services that will be used globally. We must turn around from being a consumer oriented economy, to a producer oriented economy,” he said.

Oladipupo also said that barrier-breaking speakers who will reveal their success stories at this gathering include Bovi Ugboma, Olakunle Soriyan, Toyin Abraham, and Dayo Adeneye.

He further said that this illuminating event, would be anchored by inspirational blogger and author Laju Iren alongside Inspiration FM OAP Rufai Oseni, would also feature a special panel session with Shola Okubote, Founder, woman.ng, Evans Akanno, Founder, Cregital, Kemi Filani, Nigerian blogger, Azeez Makinde, Nigerian blogger and John Obidi, Founder, SmartBCamp.

The event, he said would hold on November 11, 2017, TLC Auditorium, 599 Lagos Abeokuta Expressway, U-Turn Bus-stop, Abule Egba, Lagos, Nigeria.

Although the event is free, but potential participants, he said, must register online.

Uj. N. Dominic/GEE

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63 workers win trade restriction case against MTN

ITRealms:

The Lagos Division of the National Industrial Court has ordered MTN Nigeria Communications to pay full four years post-disengagement salaries to 63 workers, who were laid off by the company in 2009, reports ITRealms.

According to reports by TheNigeriaLawyer, the court presided over by Justice P.O. Lifu also awarded additional N10,000 against MTN in favour of each of the 63 workers to cover the cost of filing the suit numbered NICN/LA/596/2013.

Justice Lifu said MTN must pay the judgment credit sum within 30 days from October 26, 2016 when the judgment was delivered, failing which the judgment credit would attract an annual interest of 10 per cent.

The claimants in the suit are Harrison Ossai, Gabriel Ameh and Stephen Mahaja, who sued on behalf of themselves and 60 other workers laid off by MTN with the condition that they must never work with any other telecommunication company for four years after their disengagement.

The claimants had, in their suit, claimed to have been subjected to financial hardship on account of the restraint of trade imposed them by MTN.

Ossai, in his testimony before the court, said the trade restraint imposed by MTN bungled his chances of being employed by Globacom and Airtel, which were other telecommunication companies, adding that after being sacked by MTN, he was jobless for six years.

Like other claimants, he urged the court to order MTN to pay him N10m and another N20m for filing the suit.

In his judgment, Justice Lifu said he was “satisfied that the claimants had proved their claims before the court as to the oppressive and unreasonableness of the restraint of trade covenant for four years for making and leaving the claimants hard and dry for four years.”

The judge held, “Terminating the employment of the claimants and at the same time restricting them from seeking any employment from the sector generally and preventing them to be acting as agents or adviser or to engage in any other concern directly or indirectly for four years is clearly unreasonable in the light of global economic challenges occasioned by recession, which has resulted in mass unemployment.”

The judge ruled that each of the workers was entitled to be paid his last gross salary for four years after being sacked and ordered MTN to pay with an additional N10,000 each as cost.

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Elalamy to address ICANN55 in Marrekech

ITRealms: 

The Moroccan Minister of Industry, Trade and Digital Economy, Moulay Hafid Elalamy, would be speaking at the welcome ceremony of the Internet Corporation for Assigned Names and Number (ICANN)’s 55th Public Meeting in Marrakech city, reports ITRealms.
 

ICANN public meeting is a five-day public meeting holding between March 5 and 10, 2016, this year being hosted by the National Telecommunications Regulatory Agency (ANRT) of Morocco. 

ITRealms gathered that the meeting is being held at a critical moment in the organization’s history, as the IANA Stewardship Transition nears completion. As such, stakeholders from around the world will be convening in Marrakech to finalize the proposal that will ultimately transfer stewardship of the IANA functions – key elements of the Internet’s Domain Name System (DNS) – from the United States government over to the global multistakeholder community.

The ICANN’s incoming President and CEO, Mr. Göran Marby, will also be speaking to attendees during the welcome ceremony.  Just as the outgoing CEO, Mr. Fadi Chehadé and Board Chair Dr. Stephen Crocker will be addressing attendees during the ceremony.

ITRealms recalls that ICANN’s public meetings held trice annually, convenes members of the global, multistakeholder Internet community, made up of individual users, businesses, civil society, governments, research institutions and non-government organizations, to discuss issues impacting the Domain Name System (DNS) and develop policy.

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DHL Technology conference, experts set to tap into Africa’s technology growth

ITRealms

The DHL 5^th annual Global Technology conference, under the theme, “Connecting Markets, Trends and People”, came to an end in Dubai with over 300 experts and delegates predicting continued strong growth in the technology sector across African countries, and setting modalities on how to best navigate existing challenges and trade barriers and tap into the growth, ITRealms reports.

ITRealms gathered that the conference, a three day program of plenary sessions and workshops, covered several technological topics including the latest trends, innovations and solutions impacting the technology supply chain and focusing on the Middle East and Africa as key regions of interest with high growth potential.

Ashish Thakkar, Founder and CEO of Mara Group, in a keynote address on ‘Inspiring Africa and capturing chances’, made his case for doing business in Africa and advised companies to move beyond negative media hype and become familiar with African countries on the ground in order to explore and tap into the tremendous potential that exists.

With the internet usage on mobile phones, predicted to increase 20-fold in the next five years in Africa, which is double the rate of growth in the rest of the world. The technology experts also predicted a continued growth in the technology sector across Africa, with savvy entrepreneurs such as Shagaya and Oviosu leading the way in e-commerce and mobile payments, and technology segments such as mobile phones.

Delegates at DHL’s Technology conference as ITRealms gathered, learnt about African consumers’ preferences, such as paying retailers via mobile phone rather than cash and an increasing appetite for well-priced mobile devices, fuelled by a rapidly growing middle class.

Confirming this, Rob Siegers, President, Global Technology Sector, DHL said: “The technology sector is a highly dynamic industry and the pace of change is rapid.   We currently see two distinct trends: the advance of new technologies, such as the Internet of Things, big data, cloud computing and others which are changing business models as technology companies are looking to enhance their products by building services around them – and an increasing focus on tapping into growth in emerging nations”.

He also added that, “While growth is slowing in some of the traditional markets, emerging nations are gaining importance for technology companies, and Africa is of particular interest to many of our customers”.  

Charles Brewer, Managing Director of DHL Express Sub Saharan Africa, stating the company’s vision for the conference said, “We had a team of logistics experts from across Africa on hand to facilitate knowledge sharing and networking, demonstrating that DHL is a strong partner to the technology sector across the continent.”

DHL, as gathered by ITRealms, is the world’s leading logistics service provider and has been in Africa for 37 years, well positioned to support customers with their end-to-end supply chains and tailor-made logistics solutions to help them overcome challenges and tap into the continent’s tremendous growth opportunities.  

Daniel Nsolibe/Ed,Ops.

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