The Nation Newspaper

Tag: Egypt

  • Africa must reposition its economy to attract investors – Osinbajo

    Africa must reposition its economy to attract investors – Osinbajo

    Vice President Yemi Osinbajo has called on Africa to reposition its economy in the direction that will attractive investors because investment depends on the advantages derivable.

    Osinbajo made this call while interacting with a committee of African Ambassadors to Indonesia led by the dean of the group, Ms Alice Mageza of Zimbabwe, on the sideline of his two-day working visit to Jakarta.

    The Ambassadors include those of Egypt, Ethiopia, Algeria, Libya, Morocco, Mozambique, Somalia, South Africa, Sudan and Tunisia.

    Mr Laolu Akande, Spokesperson to the Vice President on Media and Publicity disclosed this in a statement made available on Tuesday in Abuja.

    The statement quoted Osinbajo as saying that Africa’s indices of having the lowest integration statistics as well as the lowest GDP ratio can only be reversed by preparing the continent for quality investments that will benefit the people.

    The vice president, who was responding to questions from the Ambassadors on the future of Africa’s economic prosperity, said, “the quality and quantum of potential investors in Africa is huge.

    “But that the way that such investments will go will depend on the advantages that the investors get from investing in such economies.

    “We in Africa must prepare our economies in that direction that attracts such huge and qualitative investments. It is for us to push and we must push,’’ he said.

    On the kinds of investments that Africa desires, Osinbajo said African must focus on the manufacturing sector.

    He noted, “the most important thing for Africa is that whoever wants to invest in our countries should start in manufacturing.’’

    He, however, urged African diplomats in Indonesia to work together in the quest for attracting investment opportunities to Africa.

    Osinbajo said, “if you negotiate together, it is probably going to be more effective than if we negotiate separately.’’

    Earlier, Vice President met with Indonesian business leaders under the auspices of the Indonesian Chamber of Commerce and Industry, where he stressed the need for Indonesian companies to increase their investment portfolios in Nigeria.

    “Nigeria would like to see more Indonesian companies invest in the manufacturing sector even though there are quite a few activities going on in Nigeria; there is also room for more collaboration and cooperation.

    “The opportunities in the various sectors comprising oil and gas, manufacturing are huge because the major incentive lies in the market, the Nigerian and the West African markets.’’

    Giving an overview of ongoing projects in Nigeria and collaborations between Indonesian and Nigerian businesses, Osinbajo said Nigeria would need a rolling stock in its railway revitalization project.

    He outlined the various incentives given by the Federal Government to attract investors into Nigeria as, government’s efforts at increasing foreign exchange availability through the NIFEX market.

    Others he said include approval of pioneer status for some category of companies to enjoy a range of incentives; establishment of special economic zones; initiatives to increase foreign exchange availability and opening up of marginal fields.

    Earlier, some members of the Indonesian Chamber of Commerce and Industry also expressed concern about the declining value of the Indonesia-Nigeria trade which currently stands at $1.70 billion dollars from $3.18 billion in 2012.

    The chairman of the Indonesian Chamber of Commerce and Industry, Mr Rosan Roeslani said, “being the 15th largest economy in the world, Indonesia through its investors is desirous of increasing its portfolios to levels that justify Nigeria’s position as the country’s biggest trading partner in Africa.’’

    He said Osinbajo’s visit to Indonesia and meeting with the business leaders are strong indications that Nigeria is ready to take her pride of place among Indonesia’s biggest trading partners in the world.

    On her part, the Chief Executive Officer of Indonesia Exim Bank, Shintya Roesly expressed the readiness of the bank to support the revitalization of trade relations between both countries.

    She said this will be through the financing of import and export activities with a view to making even the balance of trade between the two countries.

    Roesly stressed the need for creation of a roadmap and the establishment of a working group with timelines to enhance trade development between both countries.

    Mr Daniel Purba, the representative of PERTAMINA – Indonesian state-owned oil and Natural Gas Corporation said the company has already opened discussions with stakeholders in Nigeria’s oil and gas industry.

    According to him, this is with the view to investing in Nigeria’s upstream assets.

    There were other interests expressed by investors in the railway, aviation, agriculture and foods sectors.

    The Vice President was accompanied to the meeting by Mr Hakeem Balogun, Nigeria’s Ambassador to Indonesia; Dr Kayode Fayemi, Minister of Mines and Steel Development; Hajiya Zainab Ahmed.

    Others include the Minister of State for Budget and National Planning; Sen. Babafemi Ojudu, the Political Adviser to the President, and other top government officials.

    NAN

  • Qatar emir says open to dialogue to resolve Gulf crisis

    Qatar emir says open to dialogue to resolve Gulf crisis

    Qatar is “open to dialogue” in resolving a dispute that has seen the Gulf state isolated from its Arab neighbours, its emir said during a visit to Indonesia on Wednesday.

    Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut diplomatic and trade ties with Qatar on June 5, accusing it of financing terrorism and maintaining too close of ties to their arch-rival Iran.

    Doha denies the charges.

    Qatari Emir Tamim Thani said he discussed the issue with President Joko Widodo of Indonesia, which has the world’s largest population of Muslims and has close ties to the Arab world.

    “We conveyed…that Qatar is ready to conduct a dialogue to solve the problem as we already know that no one will win,” Thani told reporters after meeting with Widodo at the state palace in Bogor, outside the capital of Jakarta.

    “We are all brothers and suffering because of this crisis,” he added.

    President Widodo did not publicly address the dispute.

    The leader of the world’s biggest exporter of liquefied natural gas also visited Malaysia, another Muslim-majority nation, and Singapore.

    Saudi and other Arab nations have made a list of 13 wide-ranging demands of Qatar, including closing down the Al Jazeera television network and curbing ties with Iran.

    Kuwait and top United States officials have attempted to mediate between the parties, but there is little sign that the crisis will be resolved soon.

    NAN

  • Nigeria moves up in latest FIFA Ranking

    Nigeria moves up in latest FIFA Ranking

    Nigeria moved up to the 41st position in the World and retained the fifth in Africa in the latest FIFA Coca-Cola world rankings.

    The rankings released by the World Football governing body showed that Nigeria moved up three places from the 44th position in  September, but maintained the fifth spot in Africa.

    It said that Nigeria had 721 points compared to the 696 in September.

    The report said that Tunisia became the new number in Africa and 28th in the world with 834 points while the former number on the continent, Egypt came second and 30th in the world with 818 points.

    Senegal is number three in Africa and 32 in the world with 815 points while DR Congo is fourth on the continent and 35th in the world with 751 points.

    African champions, Cameroon is sixth in the continent and 42nd in the world with 718 points.

    In the top 10 ranked countries, Germany retained the number one position in the world with 1631 points while Brazil is second with 1619 points.

    Portugal is third, Argentina fourth, Belgium fifth, Poland sixth and France seventh.

    Osita Okeke, chairman Nigeria football supporters club, South Africa chapter, attributed Nigeria`s improvement to Super Eagles qualification for the Russia 2018 World Cup.

    “From the matches against Cameroon and then Zambia, the Eagles played well and deserve improvement in the latest rankings.

    “I believe that the team will continue to do well, especially in the World Cup,” he said.

    NAN

  • Egypt join Nigeria in qualifying, after beating Congo

    Egypt join Nigeria in qualifying, after beating Congo

    Egypt qualified for the 2018 World Cup finals after beating Congo 2-1 in a game which finished with nail-biting moments on Sunday in Alexandria.

    Egypt won after a penalty kick scored in the fifth minute of second half added time to reach the World Cup for the first time in over a quarter of a century.

    Liverpool FC star Mohamed Salah was the Egyptian hero, scoring both goals in a win that qualified them for their third finals, and the first since 1990.

    The euphoria was intense since Arnold Bouka-Moutou had stunned the hosts when equalising for Congo after 88 minutes.

    But the Egyptians’ World Cup hoodoo ended as Salah held his nerve late on.

    His dramatic winner sparked wild scenes of celebration both on and off the pitch.

    Several players and fans took to the field to celebrate while supporters wept with joy in the packed stands.

    Salah had broken the deadlock just after the hour on a tense night in Alexandria as he latched on to Mohamed El Nenny’s pass before poking home from close range.

    But an energised stadium was flattened just minutes from full time when Bouka-Moutou ghosted in at the far post to slam a volley home past Egypt goalkeeper Essam El Hadary.

    Hopes were raised as five minutes of stoppage time were indicated and in the penultimate of these, Egypt were awarded a penalty kick.

    Salah coolly sent the Congo keeper the wrong way to spark a night of celebrations across Egypt and end the record seven-time African champions’ poor World Cup record.

    In the three decades since their last World Cup appearance, Egypt have won four Africa Cup of Nations titles, and these were in 1998, 2006, 2008 and 2010.

    But they have never taken that form into World Cup qualifying.

    They had suffered repeated heart-break instead, with one of the most painful defeats coming in 2009 when they lost a bitterly-contested play-off against Algeria.

    The desperation to qualify ahead of the game was so great that Egypt’s Argentinian coach Hector Cuper admitted he was taking medication for high blood pressure.

    The victory gives Egypt an unassailable four-point lead over Uganda in Group E, with one round of fixtures left, while Ghana’s dreams also ended.

    The Egyptians are now the second African team to reach the finals after Nigeria went through on Saturday, with the continent’s remaining three places to be decided in November.

    Their qualification could be of great benefit to goalkeeper El Hadary who could become the oldest player at a World Cup ever if he plays next year.

    The record was set by Colombian goalkeeper Faryd Mondragon who played at the age of 43 at the 2014 World Cup, while El Hadary turns 45 next year.

    Earlier this year, the North Africans — whose first World Cup appearance was way back in 1934 — had finished runners-up at the Africa Cup of Nations.

    NAN

  • Putting Egypt in perspective

    My earliest encounter with the nation of Egypt was not in Geography, not on the pages of the Atlas, not even through Al-haly of Egypt (Africa’s most successful football club), not in its pyramids but rather it was in the church. My encounter with Egypt was from Sunday School and Bible study. The narratives of the Egyptian nation by my then Sunday school teachers were gory in its simplicity and bizarre in its details, Egypt was narrated in awful pictures and colours. The demonization of Egypt was not disconnected from the despotic treatment of God’s people (Israelites, the progenitors of the Christian faith) by Pharaoh the tyrannical Egyptian monarch.

    Pharaoh’s insistence on enslaving God’s people despite several menacing miracles was an indication of a monarch oblivious of his cascade into precipice just like his modern day variants found in the Robert Mugabes and Laurent Gbagbos of this world (despotism is the art of Africans). All these terrible narratives were part of Pharaoh’s already ebbing reputation in my young church mind. Egypt is demonized in our thoughts and prayers, for instance it is not unusual to hear prayer points like this in a church circle ‘….and you would pray that every Egyptian troubling your life shall be immersed in the red sea’, ‘Egypt symbolises backwardness, retardation, struggle and hardship’ statements like these are commonplace in a church gathering.

    I grew with this knowledge and hence developed an animosity for the nation of Egypt on the strength of these bogus narratives.

    However, knowledge is power, knowledge breaks the stronghold of prejudice, I have since learnt to love Egypt given its cultural and scriptural significance, what my Sunday school teacher forgot to tell me was the transcontinental position of Egypt making it a court of two continents (African and South Asia), that its early and long history positioned it as a cradle of civilization in Africa was the part I had to learn on my own, its 93million plus population (the third in Africa and 15th in the world) makes it a sure investment destination for investors was the part I had to discover by study.

    Also from a biblical standpoint to demonize Egypt on the grounds of the despotic treatment of the Israelites would be an awry conclusion given that prior leadership in Egypt did not do the same. The part I was not taught in Sunday school was the fact that Egypt was a strategic nation whose positioning and hospitality midwive God’s redemption plan, it was to Egyptian Lords that Joseph was sold, it was his (Joseph) slavery and his incarceration that midwived his path to the echelon of Egyptian powers. Furthermore, it was through his leadership that he positioned Egypt as a lender of last resort to salvage the famine in Israel. It is also instructive to note that it was Egypt that preserved Moses, it was in Egyptian art and custom that Moses was nurtured and it was this nurturing that aligned him properly to God’s call and without the call of God and the nurturing of Egypt Moses would not have played an integral role in the emancipation of the Israelites.

    Egypt was the refuge destination of our lord Jesus Christ as Herod declared a genocidal killing of all male children. To totally demonize Egypt would be equivalent to the error of the blind who only touched the trunk of an elephant and concluded it was a snake. Also the Bible reflected it at sundry times that a land is not evil on its own but rather rendered evil by the inhabitants of such lands.

    Perspective is everything. Egypt is a historic nation with footprints of leadership, hospitality and civilization everywhere. Before you hate Egypt totally let me remind you that Israel and Egypt have long time ago signed a peace treaty that has overtime smoothen diplomatic relations between the two.

    • By Kehinde Oluwatosin Babatunde

    Abeokuta, Ogun State.

     

  • Uganda tops World Cup group after upsetting Egypt

    Uganda tops World Cup group after upsetting Egypt

    Emmanuel Okwi scored early in the second half to hand Uganda a
    surprise 1-0 World Cup win over Egypt in Kampala on Thursday and put themselves top of their group
    standings at the halfway stage of the qualifiers for Russia.

    Uganda moved to seven points after three matches in Africa’s Group E, ending Egypt’s 100 per cent record as
    they upset the odds in a dominant home performance that provided them their first win over Egypt in
    more than a half century.

    Okwi took advantage of the Egyptian defence, notably new West Bromwich Albion signing Ahmed Hegazi, backing off as he jinxed his
    way into the penalty area and hammered the ball home in the 51st minute.

    The goal came soon after Egypt’s 44-year-old goalkeeper Essam Al Hadary had made the second of two close-range stops to deny the home
    country, who have never previously played at the World Cup finals.

    Egypt’s closest moment came when Mohamed Salah’s header was parried away by Uganda goalkeeper Denis Onyango just after the hour
    mark.

    Egypt, second in the group with six points, can regain top place in the standings if they beat Uganda in the reverse fixture in Alexandria on
    Tuesday

  • Egypt censors media watchdog’s website

    Egypt censors media watchdog’s website

    Egypt has blocked the website of the international media watchdog, Reporters Without Borders (RSF), as the country continues censorship measures in place since May.

    The Paris-based group said on Friday that it was dismayed by the ban and called on authorities to “provide an explanation and to restore access to all blocked sites without delay.”

    “This is the first time that the RSF site has been blocked in Egypt,” said Alexandra El Khazen, Head of RSF’s Middle East desk.

    He said that the “digital blackout’’ in Egypt was not just a grave attack on freedom of information, but also indicative of a fear of the regime that an informed public could pose a threat to its stability.

    RSF said its website had been blocked since Monday.

    At least 135 websites have been blocked, according to the Association for Freedom of Thought and Expression, an Egyptian non-governmental organization which has been tracking affected sites.

    Since May 24, Egypt has blocked access to independent news websites and Islamist-affiliated platforms.

    The government has not officially declared that it is behind the ban.

    “A press officer at the National Telecom Regulatory Authority told RSF that the authority was not responsible for the blocking,’’ the watchdog group said.

    Egypt declared a state of emergency in April, following a twin attack on churches that killed almost 50 people.

    The emergency law grants the president special powers that include censor and confiscating of publications, monitoring and intercepting all communication, closing any facility and restricting any citizen’s freedom of movement.

  • Egypt: Rafah crossing opened to allow Gaza pilgrims travel to Saudi Arabia

    Egypt: Rafah crossing opened to allow Gaza pilgrims travel to Saudi Arabia

    Egypt on Monday opened the Rafah border crossing to allow intending pilgrims from Gaza Strip leave the blockaded coastal enclave to travel to Saudi Arabia, a local media reported.

    The first group of about 800 intending pilgrims crossed the Rafah crossing to go to Cairo International Airport from where they would fly to Jeddah, Saudi Arabia, the Palestinian news agency WAFA reported.

    A total of 2,508 Muslim pilgrims from the Gaza Strip is expected to travel to Saudi Arabia to attend the Hajj, an annual pilgrimage for Muslims from across the world, the report said.

    Gaza had been under blockade by Israel and Egypt since 2007 after the Hamas movement took over the enclave from the Palestinian National Authority.

    Egypt opens Rafah crossing and the Beit Hanoun (Erez) crossing with Israel, only when the need arises for humanitarian reasons, the report said.

    Meanwhile, EgyptAir has announced that it would start transporting Palestinian pilgrims to Saudi Arabia as of Tuesday.

    The pilgrims would be airlifted via three flights that would take off from Cairo International Airport to Jeddah, the Egyptian official news agency MENA reported.

  • UAE minister denies hacking of Qatari websites

    UAE minister denies hacking of Qatari websites

    The United Arab Emirates was not responsible for an alleged hack of Qatari websites which helped spark a month-long diplomatic rift with Doha, the UAE’s Minister of State for Foreign Affairs said on Monday.

    Speaking at a forum in London, Anwar Gargash said the UAE would not escalate its boycott by asking companies to choose between doing business with it or with Qatar.

    Vodafone Qatar, an affiliate of Vodafone Group had said that access to its network was being affected by technical issues.

    “The company is working to resolve the issue,’’ Vodafone Qatar said on its official Twitter account.

    Several Vodafone customers told Reuters that they were unable to make or receive phone calls.

    A spokesman for Vodafone Qatar did not immediately respond to a request for comment.

    State-controlled Ooredoo also serves Qatar’s mobile communications market.

    Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut diplomatic and transport ties with Qatar on June 5, accusing it of supporting terrorism, a claim which Qatar denies.

  • Egypt to get $1.25b IMF loan

    Egypt is to receive a second loan instalment worth $1.25 billion from the International Monetary fund on Thursday night or Friday at the latest, state news agency MENA said.

    Egypt agreed a three-year $12 billion IMF loan programme in November that is tied to ambitious economic reforms such as subsidy cuts and tax hikes.

    The IMF said in May that there was a staff-level agreement to disburse the second instalment based on Egypt’s reform progress but that its executive board first had to meet to sign off on it.