The Nation Newspaper

Tag: invest

  • WAMCO to invest N4b yearly to enhance capacity

    •Three months nutrition intervention for Borno IDPs begins

    Friesland Campina WAMCO Nigeria Plc, manufacturer of Peak Milk brands, has earmarked  over N4 billion yearly to grow its operations, enhance capacity, create employments and a healthy populace in the country, its Managing Director, Mr. Rahul Colaco, has said.

    Colaco, who spoke in Lagos at the weekend during the launch of low priced brands of Peak milk called ‘Peak Wazobia’ and a range of other low unit portion packs of Peak and Three Crowns evaporated and powdered milk in N20 and N50 sachets, said developing human capacity is central to its operations.

    He also told The Nation that the diary company has commenced a three-month nutrition intervention for Internally Displaced Persons (IDPs) in Borno State to check incidence of malnutrition. He said three months ago, workers of the company visited the IDPs in Borno State where they contributed household goods, among other items to them.

    He explained that the company decided to provide children in the IDP camp with milk for three months to prevent them from malnutrition and other health-related issues. According to him, at the end of the intervention, the company would measure the impact and result before deciding on the next line of action, adding that the firm is committed to making quality nutrition available to Nigerians.

    Colaco said the aim of introducing Peak Wazobia into the market was to increase consumers’ options of quality dairy products. This, according to him, is because Peak Wazobia costs N50 per sachet, even as the company has assured consumers that the quality would never be compromised.

    On the new products, Colaco said: “We are key players in feeding Nigerians. For us this is a privilege and a responsibility that we are fully committed to. Of course, this initiative is fully linked with the pillar of our mission statement which addresses issues of nutrient security.

    “This pillar focuses on issues of malnutrition, which is also a growing national concern. We believe that with daily consumption of milk through increased accessibility of quality dairy nutrition, consumers have the opportunity of getting up to 50 per cent of the nutrients that they require daily, which the body cannot make on its own.”

    A Professor of Community Health Nutrition and Nutrition Consultant, Ladoke Akintola University of Technology (LAUTECH), Ogbomosho, Prof. Ebenezer Ojefitimi, in his presentation titled: The role of dairy in promoting nutrition: A public health perspective, said the benefits of quality nutrition in preventing issues of malnutrition across all life stages and economic groups.

    “Dairy and its products should be endorsed as an integral component of healthy patterns. After all, they are nutritionally beneficial, environmentally sustainable, economically viable and culturally acceptable. Dairy and its products have the potential to assist us to achieve our number four and five millennium development goals (MDGs),” he said.

  • China to invest $10b in Cross River, says Ayade

    China to invest $10b in Cross River, says Ayade

    Cross River Governor Ben Ayade yesterday said businessmen from the Henan Province of China will invest $10 billion in the state.

    The governor said a new China city would be built in Cross River by the Provincial Government.

    Ayade, who spoke at the Margaret Ekpo International Airport, Calabar, the state capital, hinted of the expected arrival of 100 investors from Henan to set up various companies and industries in the state.

    The governor said other teams of investors would focus on various key projects, including agricultural investments, renewable energy, the garment factory, hydro-power projects and the seaport.

    He said: “We have a large group coming in for agriculture; huge investments are coming in through renewable energy. We have a large group coming in, in terms of garment factory. We have a team also coming in hugely to invest in hydro-power project and the seaport.”

    Ayade said a logistics hub for Africa, which would focus on the Manufacturing sector, would also be established in the state.

    The governor noted that with the necessary arrangements on ground, his earlier budget of N350 billion for the 2016 fiscal year would be surpassed.

    On Carnival Calabar, said to be the largest street party in Africa, Ayade said it would assume greater heights this year.

    The governor said it would be awesome, filled with new excitement and a deepened content.

    He added: “Cross River, after 10 years of the carnival, needs to have a change. This year will be the first carnival under my watch. We are deepening the content, with new excitement. I use this opportunity to call on all to come to Calabar as the 2015 carnival will be quite awesome.”

  • Invest in health sector, private firms urged

    Private business organisations have been urged to invest in the health sector as the responsibility of a virile medicare cannot be left to the government alone.

    The Nigerian Breweries (NB)  Plc Human Resources Director, Victor Famuyibo, who made the plea during the inauguration of Accident and Emergency (A and E) Centre of Ikorodu General Hospital and a renovated Paediatric Ward of Agbala Health Centre, Ikorodu, said there was need for collaboration between the government and the private sector.

    The centres were donated by the Heneiken Africa Foundation (HAF) in collaboration with NB.

    His words: “The population is growing and there is need for the private sector to join hands with the government. This is to reduce mortality rate to the barest minimum by investing in the health sector.”

    According to him, Ikorodu has assumed a larger setting as a result of the newly built road infrastructure.

    “So many citizens, who ordinarily had lived their lives in the greater cities of Lagos, have moved to Ikorodu because of the development the community is witnessing,” he said.

    Accidents, he said,  were  predicted to increase due to the new road, adding: “That is the reason for this 12- bedded accident and emergency centre to curb the menace of accident.”

    He continued: “For us it is money well spent and we are sure that value will be derived from this equipment.”

    Permanent Secretary, Lagos Ministry of Health, Dr Modele Osunkiyesi, thanked the HAF and NB for their laudable effort, urging other private companies to support the sector.

    About the importance of the centre, she said, the prevalence of vehicular accidents has increased due to the opening of the Ikorodu road and the entry of people into the town.

    According to her, 13 per cent of the 13, 458 and 7, 914 cases managed at the Casualty Department in 2014 and January to August 2015 respectively, were due to road traffic accidents.

    She continued: “The face of optimal pre- hospital cares provided by Lagos State Ambulance Service fleet and the inadequacy of the general hospital casualty department, which hitherto managed cases became apparent.”

    Osunkiyesi thanked the HAF and NB on behalf of the management and residents of Ikorodu, for the 12- bed accident and emergency centre and the rehabilitation of the Agbala paediatrics centre.

    Her words: “The only purpose built Accident and Emergency Centre before this was the 20- bed facility at the Toll gate constructed and equipped by the state in Lagos West Senatorial District.”

  • Akwa Ibom govt ready to invest in pension equities

    The Akwa Ibom State government says it is ready to invest in the pension industry to generate income for the state.

    Governor Udom Emmanuel  spoke in an interview with the News Agency of Nigeria (NAN) on the sideline of the on-going World Pension Summit in Abuja.

    He said the N5 trillion pension fund could create a lot of investment opportunities for interested investors.

    “The main reason for this is with over N5 trillion, which is over $25 billion, we have a whole lot of investment opportunities where we are doubly sure the pension fund can actually be invested and they can also realise the money because that is the essence of investment.

    “You don’t invest to lose your capital; you invest to actually get adequate return on your investment. Even in terms of road infrastructure, the economic viability of the roads in the Southsouth (zone) is being linked up by Akwa-Ibom.

    “So, we can actually earmark some of these for the investors to come under the PPP (public private partnership) model. We as a state government will also be interested in taking up some equity.“

    The governor said pensioners in the state were receiving their monthly pension on a regularly.

    According to him, the state government has been concentrating on the development of infrastructure in the past few months.

    “We have concentrated on some of this infrastructures, especially in terms of the human capital development,“ he said.

    Emmanuel told NAN that the state had the natural resources and the creativity to drive development in all sectors of the economy.

    He, however, said adequate funding was required to develop the infrastructure needed to drive the development process.

    “You could actually hear when I talked about the three Cs – cash, commodity and creativity. In this case we are creative in ideas, policies and in our approach on programmers that we invent.

    “In terms of commodity, we all know how wealthy we are in terms of the abundant natural resources. Cash could be a problem, but who owns the cash? It is either the capital market or the pension fund,“ he said.

    Emmanuel advocated the setting up of an institution that would ensure proper and accurate remittance of pension contributions.

    “Once you set up strong institutions, those things are mere administrative. We are after building those strong institutions so that processes and procedures can actually run normally.

    “So, set up strong institutions and things will happen – policies, procedures and processes will actually run,’’ he said.

     

     

  • How to invest pension funds

    What is a pension? Put simply, a pension is a vehicle to provide deferred compensation to employees and usually their partners in retirement. Properly managed, a pension must cover its liabilities as these become payable.

    Nevertheless, many pension plans today invest their assets independently of the promises or liabilities created. A recent study showed that US pensions still invest close to 60% of their assets in equities, almost 25% in bonds (down from prior periods), and the rest in cash/other. This can create an asset-liability mismatch, meaning that retiree benefits may not be payable if the stock market takes a tumble and stays down for years or during periods that liabilities/promises fall due.

    There may be lessons to be learned from endowments and sovereign wealth funds (SWFs). Most critically, the “better-managed” among these institutions tend to incorporate both a liability and a funding analysis in their investment program. That is, similar to pensions, endowment and SWF obligations can be outlined in terms of near, medium and long term funding needs: for instance, a sovereign or organization may save and invest for the population’s aging-related costs, such as medical or long term care, or to finance a new university library.

    Similarly, we can think about ourselves as needing to understand our future liabilities or needs, identifying both the “hard” and the “soft” liabilities. Hard liabilities could involve a mortgage or a child’s education costs, while soft liabilities may include travel or expensive hobbies, or uncertain health issues and broader family obligations, such as care for parents.

    To the extent that some of your retirement needs are longer term, this can allow you (and your pension fund) greater investment flexibility. For instance SWFs, endowments and life insurers often provide or “sell” liquidity via investment capital seeking a 4-6% illiquidity premium; this means they lock-up capital for longer periods, rather than having more immediate access.

    Yet regulators and policymakers largely focus on the asset side of institutional balance sheets, rather than liquidity, funding and liability structures. Indeed, this was a contributing factor to regulatory shortcomings before the financial crisis of 2008. Today, we seem to be doing the same again…for example, efforts to regulate non-banks – including pensions – the same as banks, leads to short-termism, and we are implementing non-risk based rules on banks (eg., leverage ratios), which lead banks to provide less market liquidity. Such regulatory policies influence market behavior, making it more difficult for retirement investors to exercise the flexibility inherent in their balance sheet structures. What we need is for the less-liquidity-constrained investors to provide longer-term capital, given their longer-term liabilities, and not encouraging pro-cyclical or short-term investment behavior.

    • Culled from Forbes

  • Firm to invest N14b in Lagos

    A German investor, Mrs Isabel Knauf, is poised to establish an arm of her construction and manufacturing firm, Knauf Group International, in Lagos.

    Knauf made this known during a visit of a group of diplomats and investors, led by the German Ambassador, Mr Michael Zenner to Governor Akinwunmi Ambode at Ikeja.

    She solicited the support of the governor in siting a $70 million (N14 billion) building and construction tools manufacturing company in Lagos.  She said the choice of Lagos was informed by its proximity to the ports, gas pipelines and a ready market.

    “We are looking to invest and build a factory here and we want your support. We have been to Lekki Sea Port and want to proceed on investing straight off. I wish to express our interest in investing about $70 million in construction tools factory in Lagos for the first stage,” Knauf said.

    Zenner canvassed the increased presence of German businesses in Lagos and improved bilateral trade relations with the state government.

    ”We are here to introduce and express our interest in business and economic cooperation, especially in food processing and building materials. A lot of allied companies in Germany also wish to join hands in the investment drive of the governor,’’ he said.

    Ambode described Lagos as the economic hub of Nigeria and fifth largest economy in Africa, making it investors’ destination in Nigeria. He said his administration was ready to receive German investors and activate a state-sister relationship with Hamburg to boost cooperation.

    His words: “As the economic hub of the country, we pride ourselves as the largest of the nation’s economy with the Gross Domestic Product (GDP) of  $131 billion.For any German company that wants to do business in Nigeria, Lagos is your best bet.”

    Assuring of a secured environment for business, Ambode said the investment would boost Lagos as an investor-friendly state.

    “I want to say openly that we are committed to giving everything required by this group to start work immediately,” he said.

  • ‘Invest more in sciences’

    The Federal Ministry of Education has called for an increased investment in the study and practice of sciences across all African countries.

    Acting Permanent Secretary of the ministry, Hajia Hindatu Abdullahi, made the call at the opening of the Pan-African Science Olympiad in Abuja.

    Abdullahi, represented by Dr Rosetta Isiavwe, the Director, Technology and Science Education in the ministry, said investment in sciences would encourage the services of indigent scientists to remain and develop Africa.

    “For Africa to keep abreast with global trends of technology advancement, and perhaps in solving its multifarious problems, efforts must be geared towards science education research and development.

    “This, I believe is the bedrock for national development; the very existence of any area of human endeavour is based on Mathematics and Mathematical Sciences. It is an established fact that sustained public investments in science in the developed nations do generate impressive returns,” Abdullahi said.

    She, therefore, said it is the lack of investments that rob Africa of her scientists, who feel alienated from their societies and that’s why they are trade elsewhere; hence people erroneously view science as the product of the industrialised world.

    Earlier, the Director/Chief Executive Officer, National Mathematical Centre, Prof. Adewale Solarin, organisers of the event, said other competitions were incorporated into the programme.

    These, he said, were the maiden edition of the Pan-African Mathematics Olympiad for Girls (PAMO-G) and the Pan-African Mathematics Olympiad (PAMO).

    “Pan-African Mathematics Olympiad, this is the 23rd Edition. We needed to do something with the girl child and we put a proposal to start the Pan-African Mathematics Olympiad for Girls. And I am happy that today, we are witnessing the maiden edition of this wonderful move to follow the trend in other parts of the world,” he said.

    “Some three or four years ago, the European Communities started the European Girls Mathematical Competition and so we are here to back the Pan-African Olympiad for Girls. So, we have three in one—Pan African Science Olympiad, Pan-African Mathematics Olympiad and Pan African Mathematics Olympiad for Girls,” he explained.

    Out of the 17 African countries, which indicated interest in this year’s edition of the competition, only 10 countries were at the opening. They are; Benin, Burkina Faso, Cameroon, Ghana, Mali, Niger, Nigeria, South Africa, Tanzania and Tunisia.

    Participants are to compete in different science examinations all week to determine winners for the three competitions at the end of the week.

  • ‘Invest in agriculture’

    ‘Invest in agriculture’

    Worried by the country’s continued dependence on imported foods despite the abundance of arable land, the Chairman of ODS Global Investment Farms and Company, Alhaji Olaniyi Salami has advised Nigerians to invest in agriculture as crude oil and gas could no longer be major revenue earner for the country.

    Alhaji Salami spoke during the facility tour of 50 acres of farm land acquired by his company at Onigambari, Ibadan/Ijebu Ode Road in Oluyole Local Government Area of Oyo State.

    The investor, who decried a situation whereby the country would continue to spend huge sums to import food items despite the availability of vast arable land and enough manpower necessary for self-sufficiency in food production, also observed that importation of food was one of the factors that depleted the country’s foreign reserves and should be discouraged.

    “My company decided to embark on large-scale farming to assist the government in  its effort at attaining self-sufficiency in food production and industrial raw materials. The farm, when operational, would embark on food processing and would also create employment for many people,” he said.

    Salami ,who emphasised the need to harness agriculture to boost food production and less dependence on food importation, also enjoined government at all levels to give priority attention to agriculture sector and appoint competent individuals  to man the Ministry of Agriculture.

  • Invest more in child education

    Invest more in child education

    Parents and guardians have been urged to invest more in the early education of their children since knowledge acquired at the foundational stage can determine their growth.

    Proprietor, Greater Heights Academy (GHA),Ijebu-Igbo, Mr Timi Owolabi, spoke at the school’s maiden graduation.

    He said parents should focus more on the quality of education, adding that it remains the best legacy any parent could bequeathe to their children.

    He said the quality of education the school offers is the unique selling point that has helped it achieve success in its environment. This, Owolabi added, is a surprise, considering that the school is just in its fourth year.

    His words: “Since its establishment, the school has been working assiduously to realise its vision of becoming one of the top 10 basic schools in Ogun State. This is in addition to its mission of raising in partnership with parents and guardians, God-fearing, intelligent and morally upright pupils, who will impact their generation positively through provision of quality instructions and enabling environment for learning.”

    He continued: “We have innovative and balanced curriculum, standard regular skill enhancement sessions for teachers, continuous assessment of our teaching methods and techniques by external assessors, as well as acquisition of modern instructional methods to enhance teaching and learning.”

    Aside the Basic Five graduands, other outstanding pupils, from playgroup, pre-nursery, nursery and Basic One to Four, were also awarded prizes for their efforts.

    The event also featured other side attractions, including performances of pupils between ages two and 10 to the delight of parents and guests.

    The highpoint was when less than three-year old pre-nursery, Igwe Princess, recited the school’s vision and mission statement to the delight of all.

    The school’s Assistant Chief Executive Officer, Tayo Owolabi, who coordinated the performance, attributed its success to hardwork and dedication of both the staff and the pupils.

    “We include all aspects of learning into our curriculum. We look at the physical, social, emotional and academic, which make our school different from others. Everything in life is not all about academics,” he said.

    Owolabi said the school’s major challenge is parents’unwillingness to invest in their children. Nonethelss, he is happy that the trend is changing gradually.

     

  • Toyota, Amatheon invest $10m in Zambian project

    German firm Amatheon Agri group entered into a joint venture with Japanese car manufacturer Toyota, to finance agribusiness projects in Africa.

    According to a statement, the two companies will invest $10 million (or approximately Shs 36 billion) into commercial farming of cereals, such as maize, wheat and soya in Zambia.

    The international trading company, Toyota Tsusho, a subsidiary of the Toyota group, is already active in 53 countries in Africa while Amatheon Agri is a German agribusiness and food company that operates sustainable agricultural projects in Zambia, Zimbabwe and Uganda.

    The group also invests in the food processing sector.

    Already, Amatheon has opened up large-scale farms, and is growing maize and sunflower in Nwoya district. The firm recently embarked on plans to start similar farms in the eastern parts of the country.

    The founder/Chief executive officer/ founder of Amatheon group, Carl Heinrich Bruhn, explained in the statement that the joint venture between them and Toyota highlights the increasing importance of the agricultural sector across Africa.

    The partnership will culminate into the building of a large-scale agro-project of 2,700 hectares of land for growing maize, wheat and soya, Bruhn said.

    The collaboration of the two companies is part of the overall development of Amatheon’s already 40,000 hectares titled farm block and the Amatheon Agri group will act as the majority stakeholder and operating partner of the company.

    Bruhn adds that the project represents both companies’ shared understanding of responsible and profitable investment in the growing agricultural sector of Africa.