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Tag: survey

  • Survey reveals Africa assets to rise by 2020

    Survey reveals Africa assets to rise by 2020

    A new research from PwC has revealed that traditional assets under management (AuM) in 12 markets across Africa will rise to around $1,098 billion by 2020, from a 2008 total of $293 billion.

    This represents a compound annual growth rate (CAGR) of nearly 9.6%.

    Traditional asset management, in particular the mutual fund industry, is expanding aggressively across Africa.

    This will largely be driven by a number of factors: economic growth and the subsequent rise in wealth will boost the demand for pensions and life insurance products, the demand for retail investment funds will consequently increase, and the widespread adoption of technology will make delivery of new products cheaper, bringing more consumers into the formal financial sector.

    The report, Africa Asset Management 2020, is an in-depth study which examines the asset management industry across 12 African countries which have financial markets of varying levels of development.  The countries, which represent a sample from Northern, Eastern, Western and Southern Africa, were assessed by a range of relevant indicators in order to capture their true investment potential.

    The countries were categorised into three groups: advancing markets, promising markets, and nascent markets.

    Besides, the report outlines and analyses the future game changers for investment into Africa as a whole as well as addressing the impacts for these specific markets.

    Ilse French, PwC Africa Asset Management Leader, says:  “As Africa has entered the 21st century, economic growth has surpassed expectations and stimulated investor interest across a broad range of asset classes. Although the fund industry in Africa is, in most countries, still developing and has much to prove, global and local asset managers are likely to become more active as the industry continues to flourish.”

    PwC also predicts that the global rise in the volume of investable assets which has taken place over the last two or three decades is set to continue to increase in the future and investable assets are set to be significantly higher in 2020 than today.

    Recent research conducted by PwC projects that global AuM will rise to around $101.7 trillion by 2020. Although Africa is a small part of the global industry it is a region that is experiencing significant growth.

    It is interesting to note that retail investors form a small proportion of investors in asset management in Africa.

    However, the report suggests that the number of retail investors in these markets could be increased by way of education about products, encouragement of a savings and investment culture, and overall economic growth.

    Banks have the best distribution network and they will likely remain the main distributors in the future. The pension fund sector in the 12 countries in this study has grown steadily from 2006 to 2014 and is expected to continue to grow considerably.

  • Survey reveals Africa assets to rise by 2020

    Survey reveals Africa assets to rise by 2020

    A new research from PwC has revealed that traditional assets under management (AuM) in 12 markets across Africa will rise to around $1,098 billion by 2020, from a 2008 total of $293 billion.

    This represents a compound annual growth rate (CAGR) of nearly 9.6%.

    Traditional asset management, in particular the mutual fund industry, is expanding aggressively across Africa.

    This will largely be driven by a number of factors: economic growth and the subsequent rise in wealth will boost the demand for pensions and life insurance products, the demand for retail investment funds will consequently increase, and the widespread adoption of technology will make delivery of new products cheaper, bringing more consumers into the formal financial sector.

    The report, Africa Asset Management 2020, is an in-depth study which examines the asset management industry across 12 African countries which have financial markets of varying levels of development.  The countries, which represent a sample from Northern, Eastern, Western and Southern Africa, were assessed by a range of relevant indicators in order to capture their true investment potential.

    The countries were categorised into three groups: advancing markets, promising markets, and nascent markets.

    Besides, the report outlines and analyses the future game changers for investment into Africa as a whole as well as addressing the impacts for these specific markets.

    Ilse French, PwC Africa Asset Management Leader, says:  “As Africa has entered the 21st century, economic growth has surpassed expectations and stimulated investor interest across a broad range of asset classes. Although the fund industry in Africa is, in most countries, still developing and has much to prove, global and local asset managers are likely to become more active as the industry continues to flourish.”

    PwC also predicts that the global rise in the volume of investable assets which has taken place over the last two or three decades is set to continue to increase in the future and investable assets are set to be significantly higher in 2020 than today.

    Recent research conducted by PwC projects that global AuM will rise to around $101.7 trillion by 2020. Although Africa is a small part of the global industry it is a region that is experiencing significant growth.

    It is interesting to note that retail investors form a small proportion of investors in asset management in Africa.

    However, the report suggests that the number of retail investors in these markets could be increased by way of education about products, encouragement of a savings and investment culture, and overall economic growth.

    Banks have the best distribution network and they will likely remain the main distributors in the future. The pension fund sector in the 12 countries in this study has grown steadily from 2006 to 2014 and is expected to continue to grow considerably.

     

  • Nigerian political parties misused public funds—survey

    Nigerian political parties misused public funds—survey

    POLITICAL parties, especially the ruling party in the country has been known to misappropriate public funds overtime.

    This is the outcome of the Global Integrity Report, published by Global Integrity, a US-based watchdog, which assists anti-corruption institutions and mechanisms around the world, intended to help policymakers, advocates, journalists and citizens identify and anticipate the areas where corruption is more likely to occur within the public sector.

    The report tagged: ‘Money, Politics and Transparency project’ obtained by The Nation over the weekend showed that the role of money in politics challenges states worldwide, both rich and poor. Its abuse often raises problems of graft, corruption and cronyism, undermining legitimacy and governance.

    Specifically, in Nigeria, the data shows that contributions to parties are capped however, unlimited donations may be made to parties. Additionally, in 2011 only two of 23 parties filed their expenditure report.

    “No direct or indirect public funding is available for parties or candidates in Nigeria. Despite a prohibition on the use of non-financial state resources during campaigns, the ruling party availed itself of state buildings, vehicles and staff for campaign purposes in 2011.”

    The legal framework includes some prohibitions on contributions, though a number of loopholes exist. Anonymous donations to parties are not permitted, though candidates may receive them. Individual contributions to parties are capped, but unlimited donations may be made to candidates. Corporations may not give at all to parties, and are limited in how much they can legally contribute to candidates. Foreign financing is banned for parties, but not for candidates.

    Spending limits are in place, but apply only to candidates, not parties. These patchwork restrictions and the absence of public funding combine to create a system in which parties and candidates rely heavily on private donors, some of whom violate contribution caps. Indeed, violations of both contribution and expenditure were common in the 2011 elections.

    Legal reporting requirements are not onerous, and apply only to parties. In practice, parties regularly fail to file the required reports: only 2 of 23 parties filed annual reports in 2011.

    Third party actors, in the form of political organisations that support specific campaigns, are present in Nigeria, and they are not subject to any regulations. The Independent National Electoral Commission (INEC) is empowered to monitor and investigate political finance issues in Nigeria.

    Appointments to that body, in practice, are not completely merit-based, and the independence of appointees is not fully guaranteed. In practice, the INEC suffers from capacity constraints, and has largely eschewed any active oversight of political finance. It conducted no investigations in 2011, and imposed no sanctions on violators, despite ample evidence that violations had occurred. Enforcement, therefore, is weak.

    The Africa Integrity Indicators is an initiative of Global Integrity undertaken in collaboration with the Mo Ibrahim Foundation that assesses key social, economic, political and anti-corruption mechanisms at the national level.

    Since 2006, Global Integrity has conducted eight rounds of research on Nigeria – including four rounds of the Global Integrity Report, three rounds of Africa Integrity Indicators research, and 2014’s Money, Politics and Transparency research.

  • How well do you know Nigeria?

    How well do you know Nigeria?

  • ASUS tops Taiwan’s global brands survey

    Global top three laptop brand, ASUS, has been recognised as the number one Taiwanese brand in the Best Taiwan Global Brands Awards in 2014.

    This year marks the second consecutive year ASUS has won the award as well as the 12th straight year the company has been in the top-three list of international brands from Taiwan. The brand value is estimated at $1.723 billion and has maintained steady growth despite a competitive market.

    In a statement, the firm recently said: “We are honoured to be recognised as the top brand in the Best Taiwan Global Brand Awards for the second year in a row,”

    Its Corporate Vice President S. Y. Hsu, said: ”2014 was an especially remarkable year for ASUS with the launch of ZenFone. It brings empowering luxury to everyone, and consumers have responded by making it the number-one phone in Taiwan by market share in the third quarter of 2014. We will continue with our In Search of Incredible brand promise as we strive to create an effortless and joyful digital life for everyone.”

    Last year, the tech giant continued its tradition of innovation with the launch of several flagship products, including ZenFone, ZenWatch, and EeeBook X205. The ZenFone smartphone series incorporates beautiful design, high-quality materials, and the seamless functionality of ASUS ZenUI to provide an unparalleled mobile experience to users.

    In a report, the IDC after conducting a research rates, ASUS as the fastest growing brand in Nigeria despite the high competition from other original equipment manufacturers (OEMs). ASUS is number three in the Global consumer laptop industry and the number one Global Brand in Taiwan.

    Industry observers also note that ASUS offers the very best in its laptops and smartphones collection, which gives them an edge over the competition.

    The new ZenWatch, the first wearable device from ASUS, is an exquisitely crafted watch that pairs with ZenFone or other Android smartphones to provide relevant and useful information when it is needed most, and serve as a personal wellness manager. Continuing the concept of the iconic EeePC, EeeBook X205 is an affordable 11.6-inch Windows 8.1 notebook with a full-size keyboard that integrates the latest technology in a compact, lightweight design perfect for consumers who are always on the go.

    The Best Taiwan Global Brands Awards is held by the Industrial Development Bureau, Ministry of Economic Affairs, R.O.C and global branding consultancy Interbrand. They are seen as a key indicator of the position held by Taiwanese brands in the global market.

    The awards are given out based on brand value, which include the financial performance of the company, the role the brand plays in the consumer purchase decision, and the competitive strength of the brand.

  • AfriHeritage begins business survey

    AfriHeritage begins business survey

    THE African Heritage Institution (AfriHeritage) has started the third cycle of the Business Environment and Competitiveness, BECANS III in what it said is an attempt to produce an indigenous independent business environment survey in the country.

    It had conducted the first two cycles, BECANS I and II, in 2007 and 2010, respectively, when it was known as African Institute for Applied Economics (AIAE).

    Its Executive Director, Ifediora Amobi, said the institution would be collaborating with the organised private sector (OPS), researchers from different universities as well as the think- tank across the federation to conduct the study.

    Amobi said the logic behind BECANS was that Nigeria’s sub-national jurisdictions (state and local governments) were crucial in ensuring good business environment and enhancing Nigeria’s global economic competitiveness ratings.

    According to him, like every federation, business environment in Nigeria was the shared responsibility of the central and sub-national governments – federal, state and local. Hence, the overall business environment would depend upon the synergies existing between these levels of government.

    The policy economist added that, in particular, state governments were responsible for the bulk of the infrastructural, regulatory and administrative services needed by private enterprises.

    He said: “So, without commensurate business environment reforms by state and local governments, the macroeconomic and institutional reforms of the federal government would not be able to produce the desired impact on employment and poverty.”

    Speaking on the purpose of the study, the AfriHeritage averred that the survey would serve as barometer to measure the performance of different units of the federation and would help the OPS to mount up economic advocacy. He added that BECANS was an initiative that attempted to assess measure and promote evidence-based reforms of the business environment in Nigeria, focusing primarily on the states.

    “The BECANS model defines business environment along four benchmarks; infrastructure and utilities, regulatory services, business development support and investment promotion; and Security,” he said, adding that BECANS ran in successive cycles of research, survey, dissemination and policy dialogue.

    The AfriHeritage boss disclosed that the Institution had consulted and deliberated with all the critical stakeholders including the Central Bank of Nigeria, the Federal Ministry of Finance, Federal Ministry of Industry, Trade and Investment, National Bureau of Statistics, National Planning Commission, and others to ensure their buy-in. He also said The Organised Private Sector, the relevant civil society organisations; the Non- Governmental Organisations would be involved at different stages of the BECANS III project.

     

  • UK hiring plans at 16-year high, according to survey

    UK firms intend to hire staff at the fastest rate for 16 years, research suggests.

    Accountancy firm BDO said its jobs index for July, which measures hiring plans over the next three months, was at its highest level since 1998.

    A “significant uptick” in hiring plans by services firm in particular was driving the increase, BDO said.

    An increase in the rate of job creation is expected for the rest of the year, the survey found.

    BDO’s optimism index – which measures businesses’ expectations over the next six months – was at its highest level for more than a year in July.

    “The unprecedented growth we’ve seen in UK employment this year looks set to continue,” said BDO partner Peter Hemington.

    But he warned that some services firms were already citing concerns over a shortage of skilled workers, and said “readily available and flexible labour from Europe” could help to relieve short-term pressure on businesses.

    “To address this, the government must ensure its protectionist tendencies are put on hold until productivity returns to pre-crisis levels,” he added.

  • Bodies celebrate world Breastfeeding Week

    CHILD Health Advocacy Initiative (CHAI) has collaborated with Ikeja Local Government and the Lagos State Ministry of Health (LSMOH) to celebrate the 2014 World Breastfeeding week. It is a celebration that is set aside every year globally to commemorate the world Breastfeeding week.

    The theme for this year is “Breastfeeding: score a goal; save a life”, at the Ikeja Local Government Hall, Obafemi Awolowo Way, Ikeja, Lagos.

    It is a call for action to support breastfeeding, calling on policy makers, healthcare providers, employers and the community at large to support mothers in reaching their personal breastfeeding goal.

    In attendance were: Mrs Lola Alonge, Chief Executive Officer (CEO)/Director of Child Health Advocacy Initiative (CHAI), Hon. Wale Odunlami, Chairman of Ikeja Local Government, Mrs Toyin Adams, representing the Commissioner of Health, Lagos state, Dr. Yemi Sofola, acting Chairman Health Board amongst others.

    The Chief Executive Officer of CHAI, Lola Alonge expressed joy, saying: “CHAI, a United States Agency for International Development (USAID), is one of the major advocates of breastfeeding in Nigeria for 10 years.

    She said: “Breastfeeding is the right of the child and the best investment that can be given to the child.” Hence, exclusive breastfeeding, an adequate complementary feeding are key interventions for improving child survival and saving the lives of about 20 per cent of children.

    The principles of breastfeeding, she said, includes breastfeeding a child within 30minutes of delivery and continuing until six months of age, continue with other foods until two years.

    Alonge said during exclusive breastfeeding, a child should not be given water, herbal drink, or other foods, unless prescribed by the doctor. The baby’s mouth must be wide open and should cover most of the black area of the nipple (Areola), adding that, “the baby’s head and body must be in a straight line during breastfeeding and the baby’s nose must be opposite to the nipple.”

    Hence, mothers should position and attach the baby to the breast properly and allow their hands touch the breast while feeding, she said.

    She further said: “The baby’s whole body should be supported and be held close to the mother’s body”. Also, the mother should look into the eyes of the child when breastfeeding.

    The benefit of breastfeeding is enormous both to the mother and child, adding that; “it helps to reduce poverty because the mother will save money on formula, it helps in child spacing and also creates bonding between the mother and child.”

    Other benefits are that it is highly digestible, it comes out in normal temperature, it makes the child intelligent. Also, it is cheap and doesn’t cost anything to produce. It makes the child healthy and prevents the child from illnesses.

    According to her, for mothers to achieve the best, there must be an enabling environment and places where mothers can breastfeed in public. Thus, women should not be intimidated or harassed for breastfeeding in the public.

    She said more awareness about breastfeeding must be given to mothers who go for ante-natal in health care centres.

    To support the programme, Alonge said: “CHAI has introduced breastfeeding counseling line for mothers to come and receive support where necessary.”

    She urged mothers to always seek advice from experts on the type of drugs to take when breastfeeding so as not to affect the child.

    She said, in Section 227 of the Criminal code law of the Lagos State, 2011, states that: “a man cannot abandon a woman who is pregnant for him, neither his child which is his responsible for. He must be responsible for the ante-natal and post-natal of the mother and child, and also the upkeep of the child.”

    Chairman of Ikeja Local Government, Hon. Wale Odunlami, urged mothers not to forget the immunization of their children of the ages of zero to five, and to keep abreast of the Ebola Virus Disease (EVD) situation. He enjoined mothers to keep a good hygiene to prevent illnesses.

    Odunlami thanked CHAI for their support to mothers and the women present at the event for coming out with their babies in large numbers.

    Representing the Commissioner of Health, Lagos state, Mrs Toyin Adams, said breastfeeding prevents the child from diarrhea, breast cancer, ovarian cancers and other illnesses. Adding that, “a child that is well breastfed has higher intelligent brain. This can only be achieved with exclusive breastfeeding.”

    She said people need to bring their attention to the current national exclusive breastfeeding rate, as at 2008 13 per cent, while in 2011 15 per cent, which is the multiple total survey carried out in Nigeria.

    By 2013, the Nigeria Demographic and Health Survey (NDHS) indicated that the national exclusive breastfeeding rate is 17 per cent, which is grossly unacceptable, she said.

    Adams said “CHAI in the past 10 years has been supporting breastfeeding in Lagos State, technically with bill boards, provision of price for breastfeeding champions”.

    She enjoined mothers to visit the primary health centers in case of breast feeding challenges because they are professional health workers and would be of assistance to them. Adding that, “ the Lagos state government is putting all its best in ensuring that the health centers are up to standard.”

    She said, youths need to be stimulated about breastfeeding becoming parents for adequate knowledge of it. She therefore appealed to the media that their reports on the breastfeeding week should be yearly.

  • ‘Omisore, PDP circulating fake survey result’

    ‘Omisore, PDP circulating fake survey result’

    The Director of Bureau of Communication and Strategy, Office of Osun State Governor, Mr. Semiu Okanlawon, has debunked an alleged falsehood being spread by the Peoples Democratic Party (PDP) and its candidate, Iyiola Omisore, on a purported poll survey.

    Okanlawon, in a statement yesterday, said the PDP and Omisore claimed that a survey conducted by the United States Agency for International Development (USAID) put him ahead of Governor Rauf Aregbesola.

    He alleged that a short message being circulated on telephones and the social media claimed that the USAID had conducted a pre-election survey which favours Omisore.

    He said: “The latest claim coming from the PDP represents another fraudulent claim aimed at gaining undeserved advantage.

    “The short message reads thus: USAID opinion poll conducted across the state between 12-21, July put your honour ahead PDP, 58/ APC 42. Such poll may have 2 or 3 error margin.”

    Okanlawon described the alleged poll result as “the manifestation of the falsehood for which the PDP and its candidate are well noted.”

  • Survey indicates fiscal indiscipline in states

    Survey indicates fiscal indiscipline in states

    The financial statements of, and audit reports of states have revealed fiscal indiscipline, according to the Head, Technical Unit on Governance &Anti Corruption Reforms (TUGAR), Ms. Lilian Ekeanyanwu .

    Unveiling her findings of the ‘Mapping &Scoping Survey of Anti-Corruption and Governance Measures in Public Finance Management (PFM),’ in Abuja yesterday, she said that virement is common without appropriate procedure.

    The study, which is the third phase of the project to establish a comprehensive anti-corruption database for Nigeria, covers Cross River, Ebonyi, Ekiti, Jigawa, Katsina, Kogi, Nasarawa, Ogun, Taraba and Yobe.

    She  noted that most of the state governments in Nigeria regularly use supplementary budgeting process to adjust the original budget to accommodate extra expenditure already incurred for emergency and non-emergency issues.

    Her words: “The findings indicate that fiscal indiscipline is prevalent in states in this study. The financial statements and audit reports of states reveal that same types of fiscal indiscipline: optimistic revenue projections and under collection, budgeting based on the unrealistic revenue projections, excess expenditure on some budget heads, under spending allocations on some other heads, and failure to spend at all in yet some others.

    “Virement is common without compliance to appropriate procedure. Most state governments in Nigeria regularly use the supplementary budgeting process to adjust the original budget to accommodate extra expenditure already incurred for emergency and non-emergency issues.”

    In her recommendation, she urged the Independent Crimes and Public Related Offences Commission (ICPC) to, in exercise of its powers under S6 of the anti- corruption policy and compliance standards for all public departments, agencies and corporations at state and federal levels in Nigeria.

    She added that the anti-corruption agencies need to pay serious heed to disclosures made in audit reports of Auditor General of the Federation and States regarding affairs of the different tiers of government.

    The head said that the fact that the infringements reported in this report remain uninvestigated even where they are criminalized under the anti-corruption laws, continues to erode public confidence in these institutions and the fight against corruption.

    Speaking, the Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI) Mrs. Zainab Ahmed said that TUGAR survey showed that most states recorded abysmal Internally Generated Revenue (IGR) making them totally dependent on Federation Allocation to meet basic expenditures.

    She added that : “The NEITI/ FASD report also threw up similar findings: the report shows that from 2007-2011 about N23.7trillion were remitted into the Federation Account as mineral revenue of which N8.22trillion was disbursed to the states government and the 13% derivatives states.”