The Nation Newspaper

Tag: SA

  • SA Life grossed N4.63b in 2013

    SA Life grossed N4.63b in 2013

    Standard Alliance Life Assurance Ltd has reported that it achieved N4.63 billion gross as against the N4.3 billion it posted the previous year.

    A breakdown  revealed that  N3.45 billion represents performance in gross life premium income, which includes group and individual life businesses while N1.18 billion came from investment-linked products.

    The company’s gross life premium of N3.45 billion indicates a 17.3 per cent growth over N2.94 billon achieved in 2012.

    During the year under review, the company paid a total claim of N2.78 billion with group life at N1.62billion and deposit administration withdrawal at N1.16 billion to affected policyholders and genuine claims’ beneficiaries in 2013 as against N2.65 billion in 2012.

    Chairman of the company, Olorogun O’tega Emerhor, who made this known during its 14th Annual General Meeting (AGM) in Lagos, said the company was able to achieve this despite the challenging environment in 2013.

    He told the shareholders that the company recorded negative results in 2013 compared with a profit in 2012, clarifying that this was as a result of time apportionment principle applied in recording gross premium income in 2013.

    He reassured the owners of the company that the board was finalising strategies to ensure that the planned July time for the meeting was achieved going forward and hinted that “the issue of insecurity challenge induced by the activities of the Boko Haram sect, escalating day in day out in the Northern region, was a permanent experience all through the year and our business offices in these areas were adversely affected”.

    Despite these challenges, Emerhor told shareholders that they were committed to pursuing strategies that would bring about optimum utilisation of resources and reducing costs, adding it would soon recapitalise.

    He announced that the Board of Directors was working with some potential investors to achieve the above, adding that they are hopeful that the exercise would be concluded before the year ends.

    The Managing Director of the company, Mr. Austin Enajemo-Isire, explained that the financial year ended December 31, 2013 was an eventful year in the industry, explaining that NAICOM’s enforcement of the “No Premium, No Cover” policy embedded in the Insurance Act of 2003 and effective January 2013 was a significant plus for the insurance industry as it was expected to enhance cash-flows and improve operating investment abilities for insurers.

  • Nigerians in S/A praise Eagles

    Nigerians in S/A praise Eagles

    Nigerians resident in South Africa have praised the Super Eagles for a good outing in spite of their playing a goalless draw with host, South Africa in a Nations Cup qualifier.

    Mr Azu Okparaugo, former President, Nigerian Union, Western Cape Province of South Africa, told the News Agency of Nigeria (NAN) on telephone from Cape Town on Thursday that Nigerians in South Afriuca were happy with the team.

    “Information gathered before the match showed that South Africans believed that they will beat Nigeria in the match.

    “They believed that it was their day. They also believed that the administrative problems in the Nigeria Football Federation (NFF) will affect the Eagles, so that they will capitalise on it to win us.

    “But, the Eagles stood their ground and almost sealed the game, if not for the South African defender who cleared the ball,” he said.

    According to Okparaugo, Nigerians in South Africa are not disappointed and are impressed with the Eagles.

    “We knew it will not be an easy game. We have played South Africa 13 times and they have only won once.

    “Our players are having difficult time, we are aware, but we trust our players, they will always get better,’’ he said.

    He added that at the end of the match, Nigerians in Cape Town met the Eagles and they assured them that they would improve.

    Mr Vincent Nzekwe, President of Abia State Union in South Africa, told NAN that the Eagles did their best in the match.

    “It was not an easy game for Nigeria. We supported the Eagles all the way and we are happy they picked a draw.

    “The players did their best in spite of the intimidating home support. I believe the team will get better,’’ Nzekwe said.

  • SA Tourism opens West African marketing office

    THE South African Tourism Minister, Mr. Marthinus Van Schalkwyk, accompanied by Nigeria’s Tourism, Culture and National Orientation Minister, Chief Edem Duke, officially opened the very first South African Tourism marketing office on the African continent in Lagos, Nigeria.

    Addressing the West African travel trade and guests in attendance, Minister Van Schalkwyk said that South African Tourism’s new home in Lagos serves to confirm his country’s support for increased economic cooperation between the South African and West African regions.

    “As a nation, we see the special and longstanding relationship between Nigeria and South Africa as pivotal towards maintaining an Africa that is economically vibrant and resilient and an Africa that grows through partnerships between nations,” said Minister van Schalkwyk.

    Continuing, he said: “Key to creating economic vibrancy and resilience is working together to develop industries that have the potential to contribute meaningfully to our GDPs and job creation on the continent. Tourism is certainly one of such industry. Investing in our tourism network on the continent is not only indicative of our commitment to African co-operation, but it also makes good business sense.

    “We’ve experienced positive growth figures out of West Africa; a total of 73,282 Nigerian tourists visited South Africa last year, marking a 13.8% increase from 2011. At the end of June 2013, Nigerian tourists arrivals had continued to grow on a strong trajectory with 15.9% during the first six months of this year.

    “Likewise, tourists arrivals from Ghana to South Africa grew by 23.8% in 2012, when South Africa welcomed 22,953 Ghanaian tourists. Up to end of June 2013, arrivals from Ghana were growing at 27.3%, to 13, 663 tourist arrivals for the six-month period. The steady growth in both markets makes this region very valuable to us,” Minister van Schalkwyk said.

    The opening of the Nigerian office comes on the heels of South African Tourism having officially extended an invitation to the rest of Africa to showcase the continent by exhibiting at the annual Tourism INDABA, held in Durban in May every year. South African Tourism has also invited more than 500 hosted buyers to INDABA 2014; offering exhibitors the opportunity to promote their destination at the heart of Africa’s biggest, most established and best-attended travel trade exhibition.

    In addition, an announcement at the end of last year, of collaboration between INDABA and the bespoke We Are Africa tradeshow (that takes place days before INDABA) exponentially increases the exposure to top-quality buyers for exhibitors at both travel trade shows.

  • Solomon Lar, SA varsities sign MoU

    Plateau State-owned university, Solomon Lar University, Bokkos, has signed a Memorandum of Understanding (MoU) with the University of Johannesburg in South Africa for the training of its workers on doctoral programmes.

    In a statement by the Public Relations Officer of the Solomon Lar University, John Agam, the deal was signed at the office of the Vice Chancellor and Principal of University of Johannesburg in South Africa.

    It said: “The MoU was signed at the University of Johannesburg by the Vice Chancellor, Prof. Docknan Sheni for Plateau State University Bokkos and Prof. Ihron Rensberg, Vice Chancellor and Principal for University of Johannesburg.

    The agreement is aimed at raising the academic standard of the new university.

    The statement added that the PhD students would be drawn from all the local councils of the state.

    It reads: “The MoU entered into is on academic cooperation and collaboration through the scholarship of teaching and learning programmes, research and development and student and lecture postgraduate programmes.

    “Part of the agreement is that the University of Johannesburg will enrol Plateau State University staff for studies that it deemed crucial for development.

    “Beginning this academic session, Plateau State University will be sending at least 17 Ph. D students to South Africa for studies. This is part of the universities effort to unify the state in line with the Governor Jonah David Jang’s desire. By this arrangement, one student from each local government area in the state will take part in the programme each year.”

    The vice Chancellor hopes that by the end of his tenure, the state can boast of at least 85 people who have either completed or are undergoing Ph. d programmes in the university.