The Nation Newspaper

Tag: Mauritius

  • Africa unites over Quadri’s feat at Olympics

    Africa unites over Quadri’s feat at Olympics

    The heroic feat of Nigeria’s Aruna Quadri at the ongoing Rio 2016 Olympic Games has united African teams in Brazil as the success of the table tennis star continues to dominate global media.

    Quadri was in superb form when he edged out former world number one and tournament’s number 10 seed, Germany’s Timo Boll 4-2 in the fourth rou8nd match played late on Monday.

    From Egypt, Mauritius, Algeria, Djibouti, South Africa, Botswana, Cote d’Ivoire and Nigeria, Quadri’s feat as the first African to qualify for the quarterfinal round of the table tennis event at the Olympic Games has become the talk of the town across the continent.

    From the President of the African Table Tennis Federation (ATTF), Khaled El-Salhy to the Vice President of the South Africa Olympic Committee (SAOC), Hajera Kajee as well as the former President of Djibouti Table Tennis Association and Executive member of ATTF, Farah Hassan Farah, Quadri has now put the continent on the global map with all eyes on Africa now at ITTF.

    Excited ATTF boss said: “I am so happy with Quadri Aruna of Nigeria flies high in the prospect of Rio Olympic Games by qualifying to the quarter-final of the Men’s Single as the first precedent for African Table Tennis players in Olympics. Congratulation to Africa, ATTF, NTTF and all Table Tennis fans in our continent and I am still hungry for much more tomorrow Inshallah.”

    “It is indeed a great moment for Nigeria and our Continent Africa. Viva Africa,” said Kajee.

    Well done!! Kudos to Aruna Quadri and his team, Nigeria Table Tennis Federation and of course the continent should celebrate this outstanding performance,” said Farah.

    For the Vice President of ATTF, Olabanji Oladapo, the feat achieved by the Nigerian is a plus to Africa. I join millions of African all over the world in congratulating Aruna Quadri, Nigeria and President of African Table Tennis Federation. I believe we are gradually moving closer to our goal of breaking into the medal table in any ITTF competition. It will be sooner than later. African will be on the podium. Best of luck to all the African players at the 2016 Rio Olympic Games in Brazil.”

    Even some of the upcoming players in Africa were not left out of the celebration as Africa’s U-21 champion; Shady Magdy praised the achievement of Quadri, whom he said has opened doors for African players at global level.

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  • ITF lists Nigeria for World Team Qualifiers in Tunisia

  • New Mauritius core investor takes over Nigerian German Chemicals

    New Mauritius core investor takes over Nigerian German Chemicals

    Mauritius fund-management company, Advanced Finance and Investment Group (AFIG Funds) has fully taken over as the new core investor and manager of Nigerian German Chemicals (NGC) Plc. The takeover led to major changes in the board and management of NGC, including the resignation of the chairman, executive vice chairman and a non-executive director.

    AFIG Funds, through one of its funds-Atlantic Coast Regional Fund (ACRF), had in December 2014 reached agreement with shareholders of NGC to invest $14 million in the Nigerian company. The parties to the transaction then followed through the approval process with relevant regulatory authorities including the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE).

    A source in the know said the takeover of the board and management was sequel to receipt of all necessary approvals from the Nigerian regulatory authorities. In a terse regulatory filing, NGC said its chairman, Mr.  Babatunde Savage; executive vice chairman, Mr. Adeboye Shonekan and a non-executive director, Mr Olusegun Oshinowo resigned their appointments on September 4, 2015.

    The new core investor promptly immediately appointed Mr. Stephane le Bouder, a director of AFIG Funds, as the acting chief executive officer and Mr. Samson Osewa, a director of NGC, as acting chairman of the company. Both appointments took effect on September 4, 2015.

    Based in Mauritius, AFIG Funds is an investment fund management company with $ 122 million under management. It is one of the premier fund managers dedicated to private equity investment in Africa. AFIG Funds has offices in Dakar, Washington DC and Johannesburg. Atlantic Coast Regional Fund LLC (ACRF), the maiden fund of AFIG Funds, is a regional fund focused on 29 countries in West and Central Africa. ACRF considers investments in all sectors, and targets strong growth companies, preferably with a regional scope, in its target region.

    AFIG Funds’ investment would provide NGC with the means to embark on its next phase of development, which includes the completion of new and more modern production facilities with expanded production capacity.

    Besides, AFIG Funds would also enable the company to add an intravenous fluids plant, further cementing its position as a local leader in the manufacture of critical healthcare products. The investment will also support the company’s continued expansion and diversification of its brand offerings under its own name, and under license from global pharmaceutical leaders such as Johnson & Johnson.

    Shonekan had hailed the investment from AFIG Funds as the much-needed catalyst to accelerate the growth of the company.

    “The partnership with AFIG Funds represents a unique opportunity for NGC. AFIG Funds brings not only capital to accelerate the company’s growth and expansion, but also support to management and international experience that is already helping to strengthen the company’s ability to seize new market opportunities. NGC has a long and proud history as a leader in Africa’s largest market, and we look forward to building on this legacy to help strengthen the Nigerian healthcare sector, as well as facilitate access to world-class medicines for the people of Nigeria,” Shonekan said.

    Chief executive officer, AFIG Funds, Mr. Papa Ndiaye, said the investment in NGC was as a result of a painstaking selection process over a six year period and involving several companies across the regions.

    “We are pleased to invest in NGC. Over the past six years, we have evaluated a number of pharmaceutical companies in West, Central and East Africa, and found NGC to present one of the best investment opportunities in the sector, in terms of local leadership and strong brands,” Ndiaye said.

    He described NGC as a resilient company that is poised to capture the tremendous market opportunities in Nigeria.

    NGC produces and distributes its own brands of medicines, as well as several brands under license from major international pharmaceutical companies. It produces liquid and tablet medicines and also has a beverage production facility, subdivided into water and soft drinks. In the company’s 50 years in the market, it has built a portfolio of brands, including household brands such as Abidec, Daga, Gluformin and Valgin. Other products included Sparwasser, a brand of bottled, and Vimto and Sunkist, flavored and carbonated drinks which it produces under license for the Nigerian market.

    The new chief executive, Mr. le Bouder holds both French and American citizenships and had prrior to joining AFIG Funds, served as Deputy Assistant Secretary for International Affairs at the US Treasury Department Office of Legislative Affairs in Washington DC. As a political appointee, he had worked with senior Treasury and White House officials to advance the Obama Administration’s international financial and development agenda in Congress.

    He had earlier worked for the US Congress as Staff Director for the House Financial Services Subcommittee on International Monetary Policy and Trade. As senior committee staff, under the leadership of Chairman Barney Frank (Massachusetts), Stephane helped draft the landmark Dodd-Frank Wall Street Reform Act. Under the leadership of Subcommittee Chairman Gregory Meeks (New York), he was responsible for congressional oversight of US engagement with multilateral institutions.

    Prior to working for the US Government, he worked for MyC4, a Danish technology startup building an online peer-to-peer microfinance lending platform dedicated to Africa.  Mr. le Bouder also worked for Chatham Financial, in Pennsylvania, advising regional and community banks across the US on identifying, modeling and trading interest rate risks. He started his career at the Corporate Executive Board in Washington DC, advising Fortune 500 clients on Treasury function best practices.  He holds a BA and MA in Economics from McGill University, and an MBA from Harvard Business School.

    Osewa, a pharmacist and member of the Pharmaceutical Society of Nigeria, had served as Director of Pharma Production and Director of NGC. He joined NGC in 1982. He is a former president of National Association of Industrial Pharmacists.

     

  • Mauritius: Allure of an ocean island

    Mauritius: Allure of an ocean island

    For fun-seekers willing to enjoy nature to its full limit, Mauritius is indeed a tourist destination. OLALEKAN OKUSAN, who visited the Ocean Island recently, explores the Island endowed with a lot of attractions.

    Before departing for Mauritius for an international table tennis tournament, I had made an in-depth research about the Ocean Island, but one thing that fascinated me about the country was its small population of 1.2m people.

    As a frequent traveller, the journey to Mauritius started on April 1 aboard an Emirates Aircraft; and for me the journey to Dubai was the best I ever embarked on in recent times.

    However, my curiosity about Mauritius gave wings to reality to soar when I boarded the flight to Mauritius with most of the passengers being white and this confirmed that the Ocean Island has become the tourist destination for Europeans. The plane was completely taken up and the six-hour flight was eventful but I took time out to have a sound sleep.

     When the plane started taxing at the Sir Seewoosagur Ramgoolam International Airport, it became clear that the country was indeed a tourist destination.

    The 40minutes drive from the airport to my hotel in Quatre Bornes afforded me the opportunity to have an overview of what the country looked like.

    For 12 days my experience in Mauritius was limited to Beau Bassin Gymnasium and my hotel, but my last day was eventful with a visit to Flic en Flac beach to behold the beauty of the country.

    The Republic of Mauritius is an Island nation in the Indian Ocean about 2,000 kilometres off the southeast coast of the African continent. The country includes the Island of Mauritius, Rodrigues (560 kilometres (350 mi) east), the Islands of Agalega, and the Archipelago of Saint Brandon. The islands of Mauritius, Rodrigues and Réunion form part of the Mascarene Islands. The total area of the country is 2,040 km2. The capital and largest city is Port Louis.

    According to Wikipedia, Mauritius claims sovereignty over the Chagos Archipelago (United Kingdom) and TromelinIsland (France). The United Kingdom excised the Chagos Archipelago from Mauritian territory prior to Mauritian independence in 1965. The UK gradually depopulated the archipelago’s indigenous population and leased its biggest island, Diego Garcia, to the United States. The US soon thereafter established a military base on Diego Garcia.

    The people of Mauritius are multiethnic and multicultural. Most Mauritians are multilingual; Mauritian Creole, English, French, and Asian languages are widely spoken. The Island’s government is closely modelled on the Westminster parliamentary system, and Mauritius is highly ranked for democracy and for economic and political freedom. Along with the other Mascarene Islands, Mauritius is known for its varied flora and fauna, with many species endemic to the island. The island is widely known as the only known home of the dodo, which, along with several other avian species, was made extinct by human activities relatively shortly after the Island’s settlement.

    Mauritius is carved into nine districts which consist of different cities, towns and villages, while the estimated resident population of Mauritius was 1,261,208 as of July 1, 2014. The female population was 637,032 compared to a male population of 624,176. The population on the island of Mauritius is 1,219,265, and that of Rodrigues Island is 41,669. Agalega and Saint Brandon had an estimated population of 274. Mauritius is a religiously diverse nation. It is a secular state and freedom of religion is a constitutional right.

    Mauritius is a multi-ethnic society; the ancestors of the Mauritian population are mainly of Indian, African, French and Chinese origin.

    Being both an English and French-speaking nation, Mauritius is a member of both the Commonwealth of Nations and the Francophone. The Mauritian constitution makes no mention of an official language. It is only in the Parliament that the official language is English; any member of the National Assembly can also address the chair in French.

    In Mauritius, people switch to languages according to the situation; French and English are favoured in educational and professional settings while Asian languages are used in religious activities and Mauritian Creole as mother-tongue. French is mostly used in the media and literature.

    Since independence in 1968, Mauritius has developed from a low-income, agriculture-based economy to a middle-income diversified economy. The economy is based on tourism, textiles, sugar, and financial services. In recent years, information and communication technology, seafood, hospitality and property development, healthcare, renewable energy, and education and training have emerged as important sectors, attracting substantial investment from both local and foreign investors.

    Mauritius has no exploitable natural resources and therefore depends on imported petroleum products to meet most of its energy requirements. Local and renewable energy sources are biomass, hydro, solar and wind energy. Mauritius has one of the largest Exclusive Economic Zones in the world. In 2012, the government announced its intention to develop the Ocean Economy. It is ranked high in terms of economic competitiveness, a friendly investment climate, good governance and a free economy.

    Mauritius is one of the world’s top luxury tourism destinations. It possesses a wide range of natural and man-made attractions, enjoys a tropical climate with clear warm sea waters, attractive beaches, tropical fauna and flora complemented by a multi-ethnic and cultural population that is friendly and welcoming. These tourism assets are its main strength, especially since they are backed up by well-designed and run hotels, and reliable and operational services and infrastructures.

    Mauritius received the World Leading Island Destination award for the third time and World’s Best Beach at the World Travel Awards in January 2012.

    Since 2005, public bus transport in Mauritius has been free for all students, people with disabilities and senior citizens. There are currently no railways in Mauritius; former privately owned industrial railways having been abandoned. To cope with increasing road traffic congestion, a Light Rail Transit system has been proposed between Curepipe and Port Louis.

    The harbour of Port Louis handles international trade as well as a cruise terminal. The sole international airport for civil aviation is Sir Seewoosagur Ramgoolam International Airport, which also serves as the home operating base for the national airline, Air Mauritius; the airport authority inaugurated a new passenger terminal in September 2013. Another airport is the Sir Gaëtan Duval Airport in Rodrigues.

    The major music genres of Mauritius is the Segga music, the others being its fusion genre Seggae and Bhojpuri songs and seafood is an important component in the cuisine of Mauritius.

    Flic-en-Flac

    During my visit to Flic en Flac, my experience confirmed that Flic en Flac is a seaside village on the western part of the Island of Mauritius in the district of Rivière Noire. Its public white sandy beach is one of the longest and nicest on the island; its lagoon is protected by the surrounding coral reefs, the beach provides spectacular view over the Indian Ocean horizon and of Le Morne Brabant Peninsula located in the south west of Mauritius. Flic-en-Flac is also home to some of the most luxurious hotels in Mauritius, the Tamarin beach is situated a few kilometres away.

    My base, Quatre Bornes also known as La Ville des Fleurs (The City of Flowers), is a town in Mauritius, located in the Plaines Wilhems District; the western part also lies in the Rivière Noire District. The town is administered by the Municipal Council of Quatre Bornes. Situated between the towns of Beau-Bassin Rose-Hill and Vacoas-Phoenix, Quatre Bornes is linked by roads to the north, east, south and west of Mauritius. According to the census made by Statistics Mauritius in 2012, the population of the town was put at 82,545.

    However, my sojourn in Mauritius became sweeter when I visited a Catholic School in Vacoas where I met an intelligent eight-year-old Nigerian girl, who ensured that my stay in the Island was memorable.

    Unknowingly, the young Eniola, got to know that I came from Nigeria and was quick to inform her parents about my visit. To my surprise, the young looking dad of little Eniola made frantic efforts to locate me and luckily for me, he found me. As usual, the Nigerian in him came to the fore and he began to cater for me and calling regularly to ensure I enjoyed my stay.

    My last nine hours in Mauritius became my cherished moments, as I visited the beach in Flic en Flac, where I saw many Europeans who came for holiday. The beach cannot be compared to most beaches I had visited. It was neat and the atmosphere forced me to request for a boat ride. The 45 minutes ride made me appreciate the beauty of the beach better. But my excitement came to an abrupt end when I exited the boat, and headed for my hotel to prepare for my movement to the airport.

    For me, Mauritius is a pride to Africa and a place to visit for any fun seekers who cherish nature.

  • Mauritius bank’s shares drop

    Shares of Mauritius Commercial Bank (MCB), the largest company by market value on the nation’s Semdex Index , have dropped seven per cent since April last year and recorded third quarter of declines in the three months through March.

    A selloff that made Mauritius equities the worst performers in Africa this year risks deepening as a probe into an alleged Ponzi scheme involving one of the Indian Ocean island’s banks and insurers damp investor sentiment.

    “The overall sentiment is more on the downside,” Melvyn Chung Kai To, a trader at AXYS Stockbroking Ltd., one of the country’s largest brokerages, said in e-mailed comments on April 15 from the capital, Port Louis. “It’s a hit for our financial services industry. A bank went bust and the largest life insurer is also out.”

    The regulator revoked the license of British-American Investment Co.’s Bramer Banking Corp. on April 2 and placed its insurance unit BAI Co. into administration, with Prime Minister Anerood Jugnauth saying there is evidence of links to a $690 million Ponzi scheme and that the lender risked depositors’ funds.

    The events threaten to undermine efforts by Mauritius to position itself as a regional hub for financial services. The industry contributes about 10 percent to the island nation’s $11.9 billion gross domestic product (GDP), according to the African Development Bank.

  • #FollowTheBallForEducation project

    #FollowTheBallForEducation project

    Mauritius Minister of Gender Development - Hon Mireille Martins signing Zuriel Oduwole's ball during her visit to promote the #FollowTheBallForEducation project
    Mauritius Minister of Gender Development – Hon Mireille Martins signing Zuriel Oduwole’s ball during her visit to promote the #FollowTheBallForEducation project

  • Cartoon Network,Boomerang excite many in Mauritius

    THERE is so much for adults to learn about kiddies’ education and the first MultiChoice contents showcase, which took place in Mauritius last week, provided the practical world of alternative parenting.

    For Turner Broadcasting, owners of Cartoon Network (CN) and Boomerang channels, staging an exciting moment for local kids in that Island country goes beyond the thrills. They convey subtle lessons on brain development and health consciousness in a relaxed atmosphere like the Trou Aux Biches Resort and Spa, venue of the six-day event.

    It was an all-involving exercise for kids and adults, who partook in some of the children’s programmes airing on the DStv and GOtv platforms.

    The two channels are all about imagination and fun and this was experienced first-hand, as superhero Sportacus from Boomerang’s LazyTown got everybody moving, encouraging children to eat healthy and exercise, while Cartoon Network’s Animation Generation inspired creativity, challenging the children to tap into their creativity by drawing exciting characters.  During the Mauritius event, the company revealed its biggest programming line up ever, with over 730 brand new episodes on CN and Boomerang in 2014, out of which a total of 405 are planned for the African audience between June and December.

    “It is another extraordinary year for Turner’s kids channels in 2014 and viewers can expect it to continue in 2015. With a mixture of new original productions and old favourites, our offer has never been stronger. Our shows are truly talent-driven and thus made with passion. We look for unique and surprising stories that have great characters, which feel authentic to kids and this is more apparent than ever with our upcoming slate,” said Pierre Branco, Vice President, Southern Europe and Africa for Turner Broadcasting System.