Category Archives: Finance

BUILD Africa Forum: Resolutions and Actions for Infrastructure in Africa

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From: News Release – African Press Organization (APO)
PRESS RELEASE

The inaugural BUILD Africa Forum was a remarkable success

BRAZZAVILLE, Republic of the Congo, February 13, 2014/ — The inaugural BUILD Africa Forum (http://www.buildafricaforum.com) was a remarkable success, gathering over two days:

– 849 participants representing 49 countries

– 85 speakers from five continents including 10 ministers from across the continent

– 107 members of the press

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/build.png

Photo 1: http://www.photos.apo-opa.com/index.php?level=picture&id=867 (Denis Sassou N’Guesso, President of the Republic of Congo)

Photo 2: http://www.photos.apo-opa.com/index.php?level=picture&id=863 (Vicente Fox, Former President of Mexico)

Photo 3: http://www.photos.apo-opa.com/index.php?level=picture&id=866 (Jean-Jacques Bouya, Minister to the President of the Republic of Congo, in charge of Spatial Planning and Delegate General for Major Public Works)

Photo 4: http://www.photos.apo-opa.com/index.php?level=picture&id=865 (Sanusi Lamido Sanusi, Governor of the Central Bank of Nigeria)

Photo 5: http://www.photos.apo-opa.com/index.php?level=picture&id=864 (Abdoulaye Wade, Former President of Senegal)

THE GLOBAL GATHERING FOR INFRASTRUCTURE POLICY MAKERS & BUSINESS LEADERS

Global experts included H.E. Denis Sassou N’Guesso, President of the Republic of Congo, Vicente Fox, Former President of Mexico; Abdoulaye Wade, Former President of Senegal; Sanusi Lamido Sanusi, Governor of the Central Bank of Nigeria; Dr Elham Mahmoud Ahmed Ibrahim, Commissioner for Infrastructure & Energy for the African Union; Jean-Jacques Bouya, Minister to the President of the Republic of Congo for Spatial Planning and Delegate General for Major Public Works; Dominique Lafont, President of Bolloré Africa Logistics, Otavio Azevedo, President of Andrade Gutierrez, Mario Pezzini, Director of the OECD Development Centre, as well as Robert Gumede, founder of Guma Group, among many others.

RECOMMENDATIONS FOR STRONG INFRASTRUCTURE ON THE CONTINENT

Debates led to recommendations for immediate action from both public and private sector players:

1. Public Private Partnerships are key to Africa’s development. PPPs are important to close Africa’s infrastructure gap, as well as to generate new profits for African economies. Despite large discrepancies between countries that have managed to put up successful PPPs in Africa and those that have failed, PPPs have proven to work, provided they are based on a legal framework, with a fair allocation of risks and benefits between parties. This requires local capacity building on PPPs, long term planning and phasing, strong political will, as well as transparent coordination between public and private players.

2. Increasing the number of bankable projects is mandatory to boost infrastructure in Africa. But bankability is not only about generating profits. Projects must be understood in the financial, legal, environmental, as well as social and economic terms, to reduce long-term risks. Feasibility studies are key to cope with investors’ aversion to risk. Governments can also help increase the level of bankability of some projects, while it’s important to manage the country’s public debt.

3. Regional integration is not a choice, but a necessity for African economies to compete in a globalized world. African countries must not compete but rather work to complement each other, as economic and physical boundaries do not necessarily match. This can apply to all sectors from transport, to trade and telecommunications.

4. African economies need to establish their own development strategy. Development plans must create sustainable value locally, both in terms of taxation revenues and job creation. Empirical evidence shows that joint ventures with local players are far more profitable in the long run than mere foreign direct investments, with repatriation of profits.

5. Human capital is the most critical infrastructure. Solving the infrastructure deficit is only a short-term solution. Ultimately, infrastructure must serve development and stakeholders must work to further develop human capital in the long run through education, training and capacity building.

BUILD AFRICA, MORE THAN A FORUM FOR DISCUSSION, A PLATFORM FOR BUSINESS

During the BUILD Africa forum several agreements were signed to boost infrastructure in Africa:

1. The creation of an $100 million investment fund, committed to developing businesses in the value chain across the agro-business sector.

2. The creation of a dedicated PPP capacity facility, within the General Delegation for Major Public Works in Congo. This agreement, signed with Edifice Capital Group, aims to strengthen the capacity of local managers to structure and launch PPP projects in social and economic infrastructure as well as in agro-business projects.

3. An agreement to develop the hydro-energy potential of the Sounda site, in the district of Kouilou, where the Republic of Congo intends to implement a Public Private Partnership (PPP). The IFC was selected to advise to the Government of the Congo. A competitive tender is planned to select partners for this project with 1000 MW potential.

4. An MoU on fiber optic interconnection between Congo and Gabon: Thierry Moungalla, Minister of Posts and Telecommunications of the Republic of Congo and Ngoua Deme Pastor, Minister of Digital Economy, Communication and Post of Gabon represented by the Ambassador of the Republic of Gabon to Congo-Brazzaville, have signed an MoU on interconnection between the optic fiber networks CAB3 (Congo) and CAB4 (Gabon). Implemented through the World Bank’s Central African Backbone program for optic fiber interconnection in Central Africa, the agreement will increase the geographical coverage of the network, bandwidth capacity, and reduce the costs of communication in Central Africa.

Distributed by APO (African Press Organization) on behalf of BUILD Africa Forum.

More information about www.buildafricaforum.com

Julie Voiriot: julie.voiriot@buildafricaforum.com – Tel: + 33 6 61 87 29 76

SOURCE

BUILD Africa Forum

POVERTY AS AN OBSTACLE TO MAKING AFRICAN SAINTS

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From: joachim omolo ouko
News Dispatch with Father Omolo Beste
SATURDAY, FEBRUARY 8, 2014

Anicia Acen from Torit South Sudan writes: “Fr Omolo Beste today was the feast of Sudanese Saint Josephine Bakhita. How comes there are no many African Saints like whites. Do you have some African Saints in mind you can name? Otherwise I am sad that you left People for Peace in Africa and this has weakened its program and activities”.

Thank you for the question Anicia. Wikipedia, the free encyclopedia has offered category of some African Saints you can click here to read more-Category:African saints – Wikipedia, the free encyclopedia. The problem of not making many African Saints is to do with poverty.

Saint-making requires a great deal of funding, up to almost about $1 million.

Now you can think of your grandma and pa who died in poverty somewhere there in Torit with all the requirements of becoming a saint.

It requires that through reflection and renunciation the person in question found divinity in interior life and became capable of extraordinary charity.

Then there are the miracles. A saint needs to have performed two, either during his life or through posthumous intercession: one for beatification and second for canonization, though the pope can waive the latter if he’s feeling generous. The first step in the process, being declared “venerable” by the pope, does not require any.

The most labored-over task in the process is the writing of the prositio, the formal argument for sainthood, whose “aim is to show an ordinary life that was lived in an extraordinary way.

Medical cures have always been the most common form of miracle attributed to saints. The papacy is generally suspicious of other supernatural events—visitations from the Virgin, experiencing the stigmata, levitation.

It is African pride that Josephine Margaret Bakhita, F.D.C.C. has become one of the African famous saints. In our community, the Apostles of Jesus Missionaries, Rev Fr Peter Odhiambo Okola has added as his third name’ Bakhita’ to demonstrate this pride.

Bakhita was a Sudanese-born former slave who became a Canossian Religious Sister in Italy, living and working there for 45 years. In 2000 she was declared a saint by the Roman Catholic Church. She was born in about 1869 in the western Sudanese region of Darfur in the village of Olgossa, west of Nyala and close to Mount Agilerei.

Sometime between the age of seven to nine, probably in February 1877, she was kidnapped by Arab slave traders who already had kidnapped her elder sister two years earlier. She was cruelly forced to walk barefoot about 960 kilometers (600 mi) to El Obeid and was already sold and bought twice before she arrived there.

Over the course of twelve years (1877–1889) she was resold again three more times and then given away. It is said that the trauma of her abduction caused her to forget her own name; she took one given to her by the slavers, bakhita, Arabic for lucky. She was also forcibly converted to Islam.

In El Obeid, Bakhita was bought by a very rich Arab merchant who employed her as a maid in service to his two daughters.

They liked her and treated her well. But after offending one of her owner’s sons, possibly for breaking a vase, the son lashed and kicked her so severely that she spent more than a month unable to move from her straw bed.

Her fourth owner was a Turkish general and she had to serve his mother-in-law and his wife who both were very cruel to all their slaves. Bakhita says: “During all the years I stayed in that house, I do not recall a day, that passed without some wound or other. When a wound from the whip began to heal, other blows would pour down on me”.

On 9 January 1890 Bakhita was baptised with the names of Josephine Margaret and Fortunata (which is the Latin translation for the Arabic Bakhita). On the same day she was also confirmed by Archbishop Giuseppe Sarto, the Cardinal Patriarch of Venice, the future Pope X.

On 7 December 1893 she entered the novitiate of the Canossian Sisters and on 8 December 1896 she took her vows, welcomed by Cardinal Sarto. In 1902 she was assigned to the Canossian convent at Schio, in the northern Italian province of Vicenza, where she spent the rest of her life.

During her 42 years in Schio, Bakhita being the only African nun among the whites was employed as the cook, sacristan and portress (door keeper) and was in frequent contact with the local community.

She suffered a great deal under white sisters but persevered since she was convinced that she was working for Jesus who called her to religious life.

Her last years were marked by pain and sickness. She used a wheelchair, but she retained her cheerfulness, and if asked how she was, she would always smile and answer “as the Master desires”.

Bakhita died at 8:10 PM on 8 February 1947. For three days her body lay on display while thousands of people arrived to pay their respects. Her feast day is commemorated on February 8.

Fr Joachim Omolo Ouko, AJ
Tel +254 7350 14559/+254 722 623 578
E-mail obolobeste@gmail.com

Omolo_ouko@outlook.com
Facebook-omolo beste
Twitter-@8000accomole

Newly Established “African Union Foundation” Holds Inaugural Promoters’ Meeting in Addis Ababa

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From: News Release – African Press Organization (APO)
PRESS RELEASE
APO content is copyright free and can be republished at will.
heirs-holdings.jpg

Newly Established “African Union Foundation” Holds Inaugural Promoters’ Meeting in Addis Ababa

The Tony Elumelu Foundation makes first grant of $150,000 toward landmark pan-African venture

ADDIS ABABA, Ethiopia, February 5, 2014/ — Following the convening of the African Union Heads of State Summit in Addis Ababa, the inaugural promoters’ meeting of the newly established “African Union Foundation” was held. The meeting was led by the Chairperson of the African Union Commission, Her Excellency Dr. Nkosazana Clarice Dlamini Zuma, who is also the founder as legal representative of the African Union.

Photo Tony Elumelu: http://www.photos.apo-opa.com/plog-content/images/apo/photos/elumelu.jpg

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/heirs-holdings.jpg

Dr. Nkosazana Dlamini Zuma, Chairperson of the African Union Commission presented, the objectives of the Foundation for voluntary contributions towards financing African priorities at the Headquarters of the African Union in Addis Ababa, Ethiopia. In attendance were the Deputy Chairperson of the Commission, Mr. Erastus Mwencha, the AU Commissioners, the former Prime Minister of Jamaica, Mr. P.J. Patterson, and first members of the inaugural council and guests.

Established by the AU Assembly in May 2013, the African Union Foundation aims to finance African priorities through voluntary contributions. The mission of the Foundation is to “mobilize resources in support of the African Union’s vision of an integrated, people-centred and prosperous Africa, at peace with itself and taking its rightful place in the world.” To accomplish this mission, the Foundation will focus on five key programme areas in its first five years: 1) skills and human resource development, 2) women’s empowerment and gender equality, 3) regional integration, 4) youth development and entrepreneurship, and 5) advocacy and support for the African Union.

“It is time for Africa to mobilize our own resources in support of our development and take charge of our own destiny,” said Chairperson Zuma. The Foundation will strive to more deeply engage Africa’s private sector, African individuals and communities, and leading African philanthropists to generate resources and provide valuable insight on ways in which their success can accelerate Africa’s development. The issue of domestic and alternative sources of funding has been an intrinsic element of the continent’s commitments of the Pan African values of self-determination, solidarity and self-reliance. The AUC Chairperson called on the participants to act as good will ambassadors to the foundation.

Selection for membership of the Foundation’s Governing Council was based on clear commitment to African development and philanthropy, the highest caliber of integrity, and prominence in the sectors and geographies they represent. The Foundation’s governing Council is still formalizing its membership, but those selected who have been confirmed include Dr. Dlamini Zuma, Founder on behalf of the AU Commission; Ms. Luisa Diogo, former Prime Minister of Mozambique; President Alpha Konare, former President of Mali and former African Union Commission Chairperson; Ms. Zeinab Badawi, Journalist, BBC; Dr. Eleni Gabre-Madhin, former CEO of the Ethiopian Commodities Exchange; Ms. Cheryl Carolus, CEO of Peotonia Holdings; Dr. AsmanyAsfour, President of Egypt Business Women’s Association; Mr. James Patterson, former Prime Minister of Jamaica; Ms. Ntombifuthi Mtoba, Chairperson of Deloitte Southern Africa; Dr. Charles Okeahalam, CEO of AGH Capital Group; and Mr. Tony O. Elumelu, Chairman of Heirs Holdings (http://www.heirsholdings.com).

Others who attended the inaugural meeting included Mrs. Wendy Ackerman from Pick and Pay Holdings; Dr. BhekiMoyo from the Southern African Trust and Mr. Enoch Iluenzy, representative of Mr. James Gatera, MD of the Bank of Kigali.

In response to his invitation to the Council, Mr. Elumelu said, “I am honoured to be a part of the Chairperson’s vision for an emergent Africa developed by Africans, and look forward to participating in this effort to change the paradigm of African development.” As a clear indication of that support, the Tony Elumelu Foundation made a $150,000 donation to the start up costs of the African Union Foundation, the first contribution made to the ambitious initiative.

At the same meeting, a pledge of $100,000 was made by the Government of Jamaica, represented by Ambassador Carlton Masters, who indicated, “This underscores the commitment of the Diaspora towards African development.”

A formal launch of the African Union Foundation and comprehensive awareness and fundraising campaign is planned for later this year.

Distributed by APO (African Press Organization) on behalf of Heirs Holdings.

SOURCE
Heirs Holdings

VAT TAXATION IS HURTING THE FARMING REGIONS IN WESTERN KENYA

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Writes Leo Odera Omolo.

DISCONTENT has arisen in DISCONTENT the three highly agriculturally productive regions in Western Kenya following claims and allegations that the tax regime and the KRA have unrealistic increase the highest percentage of VAT charged on farm inputs and implements.

Previously farm inputs did not attract any taxation. Exempted from paying duties included trucks, tractors,and all the equipments used in farming.

However, according to the VAT Act, which was recently enacted by parliament, all these machineries now attract tax of 16 per cent, making them inaccessible to the farmers.

At the same time the Vat taxation system, it is being alleged, has exempted equipments used in the building construction industry.. Analysts say the construction work is only booming in Central Province and in the capital, Nairobi.

The players in the agriculture sector see some elements of discriminative taxation by the tax regime, which is deliberately and systematically targeting the communities living in the three Agriculturally rich Western Kenya region consisting of the Rift Valley, Nyanza and Western Provinces

Members of parliament representing the various electoral constituencies, which are close to maize producing, sugar cane growing and other areas with high insensitivity of farming have been asked to come out of their slumber .They should introduce motions in both Parliament and in the Senate challenging this discriminative taxation,” said one key player in the agricultural sector who requested for his identity to be kept secret for fear of possible reprisal.

The highly mechanized sugar industry is the hardest hit. There are so many prohibitive taxes charged such as ncess. “If the situation remain unaddressed for long, then Kenya will not be able To beat the COMESA deadline, “hr added.

A visit by this writer in the farming regions 0f Trans-Nzioia, Uasin Gishu, Nandi, Kisumu, Kericho and Trans-Mara region revealed that due to heavy VAT taxation now imposed on tractors and other farm inputs farmers can no longer afford to purchase new tractors and other farm implements owing to the skyrocketing prices..

VAT charges have also affected the sales of spare parts. One key player in the sugar industry6 asserted that may be there is a cartel of top government officials working in cohorts with the sugar barons to facilitate the importation of the same commodity so that they in turn could make a kill.. MPS should demand an explanation as to whether the high VAT taxation has any elements of political undertone aimed at the economic strangulation against the communities living 8in the agricultural productive regions in Western Kenya..

If It is true, as it is being alleged, that there is a cartel among the government officials collaborating with the sugar barons with the intent of creating artificial shortage of sugar in the country for their own selfish interests then the sooner such groups would be kicked out of Treasury and the KRA the better. It is sad that such people who are out to impoverish members of the farming fraternity.

The tea industry is another sector which is highly mechanized, which is also suffering from the effect of the heavy VAT taxation system.,

The government should set up a parliamentary committee to investigate allegations about unnecessarly high taxation imposed through Vat so that it could protect the farming community. Unless something positively is done to streamline the excesses in Vat taxation the country could in the near future experience acute shortage food grains.

Companies dealing in the sales of farm inputs have also reported sharp decline in business, which has seen the sales going down with huge percentage .No inquiries about the sales of new tractors, trucks and pick-ups are forthcoming, said one dealer in Eldoret, adding that the government need to move much faster and have the VAT btaxati9n rectified.

Sugar cane is grown in abundance in Western and Nyanza Provinces, whereas maize, wheat, barly is produced in the South Rift region of Narok County and some parts of Uasin Gishu, Tea is grown and produce in the North Rift regions of Nandi and also in the South Rift counties of Kericho, Bomet and also in parts of Trans-Mara.

Other areas where farming is thriving in the ift alley included Nakuru, Molo, Kuresoi,Naivasha, Gilgil, Subukia, Rongai and Molo.

ENDS

African Development Finance Institution: NEXIM Bank Rated as Best Performing African Development Finance Institution (DFI)

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From: News Release – African Press Organization (APO)
PRESS RELEASE

NEXIM Bank Rated as Best Performing African Development Finance Institution (DFI)

The Association of African Development Finance Institutions (AADFI) has rated the Nigerian Export-Import Bank (NEXIM) as ‘Best Performing African DFI’

ABUJA, Nigeria, January 27, 2014/ — The Association of African Development Finance Institutions (AADFI) has rated the Nigerian Export-Import Bank – NEXIM (http://neximbank.com.ng) as ‘Best Performing African DFI.’ The decision was an outcome of the ‘2013 Annual AADFI CEOs Forum of African Development Banks and Finance Institutions’ on the theme “Strengthening African DFIs with Appropriate Standards and Guidelines: 3rd Peer Review & Rating of African DFIs” held at the Serena Beach Hotel & Spa, Mombasa Republic of Kenya from 13-15 November, 2013. The Forum marked the conduct of the 3rd Peer Review of DFIs with the AADFI Prudential Standards, Guidelines and Rating System (PSGRS).

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/nexim.png

Photo: http://www.photos.apo-opa.com/plog-content/images/apo/photos/140126.png (NEXIM Bank has been Rated as Best Perfoming African DFI)

Photo Mr. Roberts U. Orya, Managing Director of Nigerian Export-Import Bank: http://www.photos.apo-opa.com/index.php?level=picture&id=588

In the letter conveying the message to NEXIM Bank, titled “CONGRATULATION ON YOUR RATING AS BEST PERFORMING AFRICAN DFI”, Mr. J.A. Amihere, the Secretary General of AADFI, stated, “In the light of your institution’s rating as ‘Best Performing DFI”, we are pleased, on behalf of the Chairman of the Association, to extend our warm congratulations to your Board of Directors and Management Team on this record performance, and urge you not to relent in your effort at entrenching best practices in the operations of your institution as you continue to sustain your development financing mandate.”

According to AADFI, the Peer Review Exercise with the AADFI PSGRS was not a competition but an approach to evaluate DFIs in the various areas of governance, finance and operation in order to identify areas of weaknesses for self-improvement and strengths for consolidation.

Suffice to state that considering NEXIM Bank was in the ‘Negative rating’ for a long time before the Roberts Orya-led Management took office in August 2009, it is instructive to note that it quickly moved to ‘B’ rating in 2012, then progressed to ‘Best Performing African DFI’ in 2013.

The state of affairs of NEXIM at the time Mr. Roberts Orya took charge of the then newly-constituted Executive Management on August 20, 2009 was such that the financial and operational performance of the Bank had deteriorated to a punching level, in addition to a myriad of other problems. These extended to an alarming decline in the quality of risk assets as the Bank’s total loan portfolio of N14.6 Billion was non-performing by 72%. Within that category, N10.03 Billion or 69.05% was classified as completely lost resulting in a decline in the bank’s income.

The net effect was a depletion of the Bank’s shareholders funds as a result of accumulated losses, significant decrease in income and tolerance of excessive and escalating overheads. Coupled with these were the issues of non-adherence to corporate governance tenets, non-existent risk management framework, lack of strategic focus and digression from core mandate, lack of visibility of the Bank, etc.

In light of the above, the Executive Team set to reverse the problems and ensure NEXIM Bank was able to contribute significantly to the economic development of Nigeria. Under the leadership of its former Board Chairman, Dr. Kingsley C. Moghalu, the Management received approval in 2010 to reposition the Bank to effectively deliver on its statutory mandate and become an ‘effective enabler of Nigeria’ economic transformation. Accordingly, a Corporate Transformation exercise was initiated centering on the key perspectives of Strategy, Risk Management and Corporate Governance, Financial Performance, Operations, Organization and People, with assistance from KPMG Professional Services.

The outcome of the exercise was the Corporate Transformation Project (Project Spring) which led to the re-definition of the Bank’s Mission, Vision and Strategic Objectives targeting four sectors, namely, Manufacturing, Agro-processing, Solid Minerals & Services, which have high employment and foreign exchange earning potentials in the non-oil sector of the Nigerian economy. This has become the MASS Agenda of the NEXIM Bank.

Subsequently, the Management set out clear transformation implementation activities which included a 5-Year Strategic Plan marshalling out the following areas –

i. clearly defined market penetration action plans with responsibilities and timelines;

ii. robust corporate governance and risk management architecture/frameworks in line with international best practice;

iii. brand strategy and brand engagement strategy to improve visibility and project the Bank’s image;

iv. clearly defined roles and responsibilities;

v. organization-wide key performance indices (KPIs) and scorecard to ensure effective monitoring of the Bank’s operations and performance by its staff and shareholders;

vi. redesigned and roll out of policies, processes and procedures with documented business functional requirements for the redesigned process to ensure efficiency;

vii. IT transformation project which will support the re-designed business processes with minimal approval levels, overlaps, redundancies as well as adequate controls; etc.

The Managing Director of NEXIM Bank, Mr. Roberts U. Orya sees the ‘A’ rating by AADFI as a well-deserved reward for all the hard work, painstaking commitment and dedication that his executive management team and staff have put into rebuilding an otherwise moribund institution over the past four years. According to him, “The current rating of NEXIM as ‘Best Performing African DFI’ from a negative rating in 2011 by AADFI is a clear testimony that the Corporate Transformation initiative we embarked upon since August 2009 has largely succeeded. The Bank is now better repositioned to deliver on its mandate through more capital injection and other institutional support from our two Shareholders – CBN and Federal Ministry of Finance in terms of supervisory, regulatory oversight and guidance functions. This has increased our capacity to support the growth of the non-oil exports and complement the export boosting activities of commercial banks. In all, we have consistently maintained a robust strategy, efficient operations through sustenance of highly skilled and motivated personnel.”

Continuing, Mr. Orya stated that “…the ultimate plan of the Bank is to invite an international rating agency, may be Standard and Poor or Agusto & Co, or any of such agencies to rate the Bank….ideally, this is the time for such a rating….”

In concrete terms, between August 2009 and December 2013, the Bank has supported Nigerian exporters, mainly Small and Medium Enterprises (SME’s) in the MASS sectors, to the tune of N30.99Billion, and issued Guarantees valued at US$27.30Million.

In terms of developmental impact to the Nigerian economy, the Bank has through its funding interventions generated/sustained over 21,075 direct jobs, in addition to many indirect jobs and facilitated the generation of estimated US$250.32Million annually in foreign exchange earnings.

In line with the strategic objective of building a profitable institution with a robust balance sheet, the Management has ensured an appreciable return on the equity investment of the shareholders. Accordingly a dividend for the 2010 financial year performance was declared and paid, which was the first time since year 2003 when dividend was last paid. Dividend for 2011 has also been declared and paid, while dividend for 2012 will be paid after the approval of the accounts by the CBN. This would make it three years of unbroken profitable performance, whilst fulfilling the Bank’s role as a development finance institution.

In other areas of its operation, the Bank, within the period under review, has achieved a cumulative loan recovery of N1.82Billion; designed and rolled out a robust enterprise-wide risk management framework.

In terms of branding, communication and visibility, the Bank has created and sustained an amazing awareness of its objectives, products and service offerings across the local, national, and international media through its rebranding exercise.

The net effect of all these is that the Bank, has through its activities, strongly supported and has continued supporting government’s policy initiatives, especially Mr. President’s Transformation Agenda, with investment and job creation in key sectors of Manufacturing, Agro-Processing, Solid Minerals and Services, including the Creative and Entertainment Industry.

Relentlessly, the Bank is forging ahead with several innovative initiatives and strategic alliances including –

a) deepening of intra-regional trade with the launching of ECOWAS Trade Support Facility (ETSF);

b) collaboration with the Borderless Alliance (an initiative of the USAID/ West African Trade Hub) to progress the regional initiative aimed at removing non-tariff barriers;

c) facilitating the establishment of a Shipping Company (The Sealink Project) to own and operate ocean going vessels within the West and Central African sub-regions; and

d) development of the facility guidelines for the Nigerian Creative Arts and Entertainment Industry.

Notably, the Bank has been able to leverage on its balance Sheet to secure lines of credit from institutions like the African Export-Import Bank (Afrexim), the Export-Import Bank of India, the African Development Bank (AfDB) while it has collaboration arrangements with United States Export-Import Bank and other EXIM Banks. The Bank is a member of the World Economic Forum in the Global Growth Company category, and was recently admitted as a member of OECD (Organization for Economic Corporation and Development), in observer status.

Distributed by APO (African Press Organization) on behalf of the Nigerian Export-Import Bank (NEXIM).

Media Contact:

Chinedu Moghalu
+234-8088-353-804
moghaluc@neximbank.com.ng

About NEXIM Bank – The Nigerian Export-Import Bank (http://neximbank.com.ng) was established by Act 38 of 1991 as an Export Credit Agency with the broad mandate to promoting the diversification of the Nigerian economy and deepening the external sector, particularly the non-oil through the provision of credit facilities in both local and foreign currencies; risk-bearing facilities through export credit guarantee & export credit insurance; business development and financial advisory services etc.

In pursuit of its mandate of promoting export diversification and deepening the non-oil sector, the Bank’s current strategic initiatives are targeted towards boosting employment creation and foreign exchange earnings in the Manufacturing, Agro-processing, Solid Minerals and Services (Tourism, Transportation and Entertainment) industries.

SOURCE

Nigerian Export-Import Bank (NEXIM)

USA: Rape audits?!

1 Reply

From: Nita and Shaunna, UltraViolet
Date: Tue, Jan 21, 2014 at 12:11 PM
Subject: USA: Rape audits?!
To: Frank Bynum

From: Nita and Shaunna, UltraViolet

A key Republican-led committee just passed legislation requiring rape victims to report their assaults to the IRS–and the bill passed without a single female vote. Can you chip in $10 to help hold them accountable and stop the “rape audit” bill?

http://act.weareultraviolet.org/go/1468?t=2&akid=762.6000.Q5Lxt0

Dear Readers:

They’re at it again.

Last week, a key Republican-led committee passed the notorious “rape audit” bill, requiring rape victims who get abortions to report the details of their assaults to the IRS.1 And here’s the kicker–the bill passed without a single female vote.

We know that the only way to make Republicans back off their war on women is to hold them accountable in their districts. So we’ve created a powerful ad showing the faces of the 22 men who passed this bill without the support of a single woman.

They say a picture is worth 1,000 words, and in this case, that’s absolutely true.

With the help of UltraViolet members, we’re already pushing this image out far and wide on social media. But to really make this controversy take off, we need to expand the effort with ads targeted at the districts of the men who voted for this horrifying bill so that they can’t ignore us.

If we can raise $20,000, we’ll have enough to make sure this terrible bill dies. Can you chip in $10 to help pull it off?

Yes, I’ll donate $10 to help stop the “rape audit” bill.
http://act.weareultraviolet.org/go/1468?t=3&akid=762.6000.Q5Lxt0

It’s incredible–while most Americans want Congress to focus on jobs and the economy, Republicans remain obsessed with controlling women’s bodies.

It’s almost like they’ve learned nothing from Sandra Fluke, Todd Akin, and the political backlash from the war on women.

But the fact is, by being so blatant about their anti-woman politics, they’re handing us a golden opportunity to make sure this bill and others like it go down in flames.

The ad we created just says it all–22 men and not a single woman telling rape survivors that they need to report their assaults to the IRS when they access abortion services.

Can you chip in $10 to make sure as many Americans as possible see it?

Yes, I’ll chip in $10.
http://act.weareultraviolet.org/go/1468?t=4&akid=762.6000.Q5Lxt0

Thanks for speaking out.

–Nita, Shaunna, Kat, Karin, Malinda, Adam, and Gabriela, the UltraViolet team

Sources:

1. House Republicans Are Pushing A Bill That Would Force The IRS To Audit Rape Victims, Think Progress, January 16, 2014

USA: This is none of the IRS’s business

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From: Nita and Shaunna, UltraViolet

They’re at it again. Now Tea Party conservatives want to force sexual violence survivors to recount their experience to IRS agents. Click here to stop them!

Click here
http://act.weareultraviolet.org/go/1427?t=2&akid=738.6000.VxrwPa

Dear Readers,

This morning, the House Judiciary Committee is debating legislation that could force survivors of sexual violence to tell their horrifying stories to…wait for it…Internal Revenue Service agents.1

That’s because the bill sponsored by extremely anti-choice Representative Chris Smith (R-NJ) requires women who needed abortion care and are also survivors of sexual violence to prove to IRS auditors that the assault occurred.2 What?!

As you read this, House Judiciary Committee members are considering the legislation. If we act now and collect enough signatures to show House leadership that this is not only offensive but also a huge waste of time, we can stop the legislation in its tracks–just like a grassroots outcry stopped efforts to redefine rape in 2011.3 If we speak out loudly now, we can send a message to politicians that bills like this won’t win over women voters, and we can stop this outrageous law in its tracks.

Click here to tell Congress: Sexual assault is none of the IRS’s business.
http://act.weareultraviolet.org/go/1427?t=3&akid=738.6000.VxrwPa

When will Tea Party conservatives get how degrading it is to force women to have ultrasounds, go through waiting periods, drive hours and hours to find reproductive care, and now describe their sexual assault to an IRS bureaucrat? In a country where 1 in 5 women have been sexually assaulted and 1 in 3 women will have an abortion, it is incredibly cruel to subject millions of women to this invasive and traumatizing line of questioning.4

In the 2012 election, Tea Party conservatives failed to gain control of the Senate due in part to their offensive and extreme comments about pregnancy resulting from rape.5 Together, thousands of us helped shine a spotlight on that, and our fellow Americans were as horrified as we were at what they saw. If we act now, we can win this new chapter in the War on Women.

Click here to tell your members of Congress: Keep the IRS out of women’s private medical records.
http://act.weareultraviolet.org/go/1427?t=4&akid=738.6000.VxrwPa

Thanks for taking action,

Nita, Shaunna, Kat, Karin, Malinda, Adam, and Gabriela, the UltraViolet team

Sources:

1. House Republicans Kick Off 2014 With Renewed Focus On Abortion, Birth Control, The Huffington Post, January 8, 2013

2. Text of H.R. 7, Congress.gov, January 8, 2013

3. How Todd Akin And Paul Ryan Partnered To Redefine Rape, ThinkProgress.org, August 19, 2012

4. Nearly 1 in 5 Women in U.S. Survey Say They Have Been Sexually Assaulted, New York Times, December 14, 2011

Students aim to change tone of abortion debate, USA Today, October 30, 2013

5. Team Rape Lost Big Last Night, Jezebel.com, November 7, 2012

Tanzania’s power sector: TANESCO, EWURA, Millennium Challenge

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From: News Release – African Press Organization (APO)
PRESS RELEASE

Jan 29 – 31 – TANESCO, EWURA, Millennium Challenge Corporation, OPIC and IFC to address the future of Tanzania’s power sector

EnergyNet’s Powering Africa: Tanzania executive meeting, will be held from 29th-31st January in Dar Es Salaam

DAR ES SALAAM, Tanzania, January 9, 2014/ — “With such a focused group of industry shapers participating at the Powering Africa: Tanzania meeting from the 29-31 January (http://www.poweringafrica-tanzania.com), we can’t help but be buoyed by the possible outcomes of the debate.” Simon Gosling, EnergyNet.

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/140109.png

As the World Bank agrees to support Tanzania to strengthen the country’s business environment, international investors flock to the country in search of credible partners, a deeper understanding of the requirement of entering the market and an eagerness to do business.

According to the International Energy Agency, sub-Saharan Africa will require more than $300 billion in investment to achieve universal electricity access by 2030. The US government’s “Power Africa” initiative, which includes Tanzania as one of six priority countries for investment, will commit more than $7 billion over the next five years in financial support to African countries in their goals to increase power generation.

The opportunities are therefore massive for Tanzania to transform its economy, create thousands of jobs and empower the youth of the nation to take the East African region profitably forward through to 2030.

Whilst both Kenya and Mozambique have witnessed increased investment of late, it is in Tanzania that the volume of investment is changing more rapidly compared with previous years. Managing this transformation appropriately will be the lasting legacy of the government.

Investment from banks and investors such as the World Bank, AfDB, the Millennium Challenge Corporation, OPIC, CADFund, CDB and USAID will provide the backbone of investment in Tanzania whilst the industrial sector finds its feet. Most recently the World Bank invested a further US$60mln to boost Private Sector Competitiveness and to fuel sustainable growth and support job creation; a key off-shoot of increased access to energy and power sector development, for which the Bank is also playing a central role.

EnergyNet’s Powering Africa: Tanzania executive meeting, to be held from 29th-31st January in Dar Es Salaam, will explore the importance of international partnerships in more detail, bringing together leading international players such as Symbion Power, Schneider Electric, Aldwych International as well as local stakeholders including the Ministry for Mines and Energy, TANESCO and EWURA, to create a credible platform to discuss the opportunities for investors in the country’s power sector. EnergyNet is delighted to have these hugely important organisations represented, further highlighting their commitment to Tanzania.

Distributed by APO (African Press Organization) on behalf of Clarion Events.

For more information about Powering Africa: Tanzania:

Meeting name: Powering Africa: Tanzania

Meeting dates: 29-31st January 2014

Venue: Doubletree Hilton, Dar Es Salaam

Contact: Amy Offord – Senior Marketing Executive

Tel: +44 (0)20 7384 8068

Email: amy.offord@energynet.co.uk

Visit: http://www.poweringafrica-tanzania.com

SOURCE

Clarion Events

KENYA: KISUMU CLERGY UP IN ARMS AGAINST THEIR OFFICIALS

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By Our Reporter

Members of the clergy drawn within Kisumu Town are up in arms against two officials of their umbrella body called Kisumu Pastors Ministries Fellowship and Church Network whom they accused of having duped them to pray for Governor Jack Ranguma during a thanks giving in which the Governor.

They said the duo Reverend Wendy Magan and Bishop John Kuyo took away with them all the money which were collected that day in form of offerings and told them to tell them how much the offerings were.

The agitated clergy who spoke to the press after failing to meet Governor Ranguma in his office have vowed to camp at his office daily till they are paid for services rendered.

“The Chairperson of the Network together with another man who introduced himself as Ranguma’s cousin called us for a meeting and told us to turn up in large numbers to pray for him at the Jommo Kenyatta Sports Grounds which we did on the promise that we would be paid kshs 10,000 flat rate so that we wash our clergy frock with, to date we have not received the money and they don’t pick our calls, look at us how we look like,broke,tired and whether beaten” they lamented.

Through their spokesman, the Clergy also vowed to get the said money through hook or crook and warned Ranguma of their curse if he refuses to pay the said money.

“We are telling him that should we not be paid by Friday then we will call for overnight prayers to curse him and his leadership, either he pays the said money or begin a spiritual with us as we talk to the almighty God directly “ they added.

They further added that some of them had projected to take their children to school with the said money and use the remainder for other uses and now their plans have come to hilt.

Asked by this reporter why they demand to be paid for prayers yet the prayers should be free, the clergy never gave any direct answer but quoted a verse which says that “one should eat from his sweat” and what that’s exactly what they are doing.

“If Governor Ranguma thought the lunch he gave us was our payment then he is misled, we will get him from every hole he is in, he better owns up and pays us”they added.

Contacted for comment the Chairperson of the network failed to answer any of our sms but the said Ranguma cousin said the Clergy should be patient as they are compiling their details so that they are paid.

“We have a list of those who attended the prayers and we will pay them depending on their seniority, the payment will not be the same as we have a pecking order of seniority, in fact those who are making noises do not even have churches and I doubt if they indeed prayed for Ranguma” he added.

He made it clear that the clergy should not expect any penny from the offerings obtained that day as the said collections went to logistics adding that they will eventually be paid “however long it takes”

KENYA: FARMERS CALL FOR SPEEDY PRIVATIZATION OF MIWANI AND MUHORONI SUGAR COMPANIES

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Writes Leo Odera Omolo In Kisumu City

DISCONTENT is high up among the sugar cane farmers in the Nyanza sugar belt over the seemingly endless official receivers management of two sugar companies.

Miwani Sugar Mill and Muhoroni Sugar Company Limited, all government owned parastatals, were placed under the official receivership management in April, 2001. The then Agriculture Minister, Chris Mogere Obure, said at the time that the two companies were to be under the joint official receivers for protective purposes. THe receivership for Miwani was to last for three months while the Muhoroni Sugar Company was to last for six months

In the case of the heavily indebted Miwani Sugar Mills, Obure said government was to appoint financial experts to write its books of accounts and offset its debts. Miwani was heavily indebted to banks, suppliers, cane farmers and workers to the tune of about Kshs 4 billon.

At the time, Miwani had planted cane crops in its 9,700 neucleus farm, which experts had estimated that when harvested, crushed into made sugar and sold would generate sufficiently enough cash money which could offset its debts.

HOWEVER, Reports making the round says that the resources of the two public companies were later subjected to massive vandalization of the highest order. Following the appointments and dismissals of team of joint receiver managers after the other.

And ever since 2001 year after years passed without any signs as to when the joint receivership management would be lifted. Miwani the oldest sugar factory I the country grounded to a halt and stopped crushing cane about five years ago, while the ailing Muhoroni Sugar Mills is still functioning, but and ailing and limping.

Muhoroni MP James Onyango K’Oyoo recently raised objection to the latest appointment of the joint receiver manager of persons of not well proved credibility who however, stood his ground

The songs about the privatization of the five government owned sugar companies have been in the air for the last two decades while the joint receiver managers have continued milking the resources of the two companies. The deals also involved the Kenya Sugar Board KSB}, which is the official regulating body in the sugar industry as well as the parent Ministry.

The appointment of joint official receivers is said to be attracting a lot of goodies, thus confirming allegations and claims that the two companies have since become the “milking cows” for some unscrupulous Ministry’s officials and board members.

The farmers in both Nyando and Muhoroni districts now want the government to expedite the privatization of Miwani and Muhoroni Sugar Companies.

Other rumors making the round within Kisumu and its environs the round within Kisumu and its environs is say that an influential and crafty entity is currently working in cahoots and clandestinely with the wealthy Indian business while targeting the Miwani’s 9,700 acres nucleus estate land for the grab. A source has confided to this writer that it won’t take long the farm which has been subject to a heated exchange between the farmers and the receiver managers as well as protracted legal tussle through courts between the wealthy Indian businessmen in Kisumu is grabbed by the politicians and his collaborators.

The residents of Kano plains and the surrounding rural location are now urging the government either to hand over the two sugar mills to credible investors altogether with their assets including farms. They are insisting that anybody interested in Miwani and Muhoroni Sugar Mills should be ready to invest in the two companies with their crucial land farms intact as it could only play pivotal role in boosting the economy of the region if they are resuscitated and floated for privatization to investors.

The Kano people as well as farmers in the Muhoroni, Chemelil, Kibios,Koru, Fort-Tennan and those farming in the surrounding Locations of South East and North East Kano, Miwani and Kibos. Anything short of this will not be tolerated by the stakeholders.

The farmers are now bold and want the government to kick out the official receiver managers out of Miwani and Muhoroni as their presence is undesirable. This is because their resources. Five sugar companies, which are still under the public investments included the Awendo-based Sony Sugar, Chemelil, Nzoia, Miwani and Muhoroi sugar companies.

Ends

HIGH COST OF LIVING IS TO BLAME FOR SUICIDE IN KENYA, SAYS FR WASONGA

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From: Ouko joachim omolo
The News Dispatch with Omolo Beste
SUNDAY, DECEMBER 29, 2013

The parish priest of Blessed Sacrament, Oriang Catholic Church in Homa Bay Diocese said on Sunday that the high cost of living in Kenya is to blame for rise of suicides cases. Delivering his homily based on the feast of holy family of Jesus, Mary and Joseph, Rev Fr Christopher Wasonga said urgent action is needed to address the situation.

Father Wasonga was referring to recent media reports where a husband went berserk in Mai Mahiu, Naivasha killing his wife before taking his life as his children watched. The man in his late 50s committed suicide by hanging himself in his bedroom, hours after strangling his wife.

The man was said to be a sand harvester had earlier quarreled with the mother of four resulting in a fight. In the bizarre incident, the man was rescued by his two children after he tried to hang himself only to later on lock himself and take his life.

The Father also referred to an incident in Homa Bay where a man killed his family members and then committed suicide in Rodi Kopany Township of Homa Bay County. John Otieno, 40, killed his wife Linda Ochieng, 25, and two children before hanging himself at their rental house.

Otieno, whose original home is in Lela village, Migori County, was living in Rodi Kopany, where he sold clothes for a living. According to the Otieno’s mother, Consolata Otieno, her son and daughter-in-law had not quarrelled and she could not tell what prompted the killings.

He also mentioned the case where a woman, 27, killed her three children, seriously injured a fourth one and then took her own life at Matulo village in Siritanyi on the outskirts of Bungoma town.

Also in Vihiga where a 38-year-old man hanged himself in his sitting room and his wife hospitalised at Mukumu Mission hospital with grave injuries.

The deceased, Kevin Bunali, had four children both orphaned now as their two mothers had passed on earlier. He worked as a carpenter.

The wife, 25-year-old Judith Deizo, who is hospitalised, was his third wife and has no child with him. Since they got married earlier last year (2012), there has been no peace in that house as they have been fighting each other often.

Father Wasonga also referred to a case in a village in Uasin Gishu County where a man went berserk and killed his two children before committing suicide over a domestic dispute.

Julius Yego, 36, killed his two sons Franklin Cheruyiot, and Eliud Kipkoech aged 4 and 2 years respectively after a fight with his wife Damaris Yego. Confirming the incident, Eldoret West OCPD Ndung’u wa Ikonya said man after the heinous act hanged himself while the wife managed to escape.

During the mass attended by all Oriang family members from all outstations, Father Wasona also introduced Rev Sr Janet Owuor of Camilian missionary sisters from Oriang, Nyasore center who was celebrating her thanks giving mass after her final vows which took place on December 7, 2013 in Karen, presided over by Homa Bay Diocese, Bishop Philip Anyolo.

Just as Father Wasonga was deeply concerned, majority of Kenyans are optimistic that 2014 will be a lot better than 2013. According to a new survey, 21 per cent of Kenyans say 2013 was a “generally bad year”, with 7 per cent describing it as a “terrible year”.

Overall, this year was most disappointing to residents of Nairobi County, with 17 per cent of those polled describing 2013 as “terrible”. This assessment is partly attributable to the high cost of living in the city, which residents list at the top of their issues of concern.

Economically, there were disappointments too, owing to strikes involving teachers and doctors. And the fire at the Jomo Kenyatta International Airport in August which destroyed investments and lives of many families as did the terror attack at the Westgate Mall in Nairobi, a month later.

Meanwhile, the question of unemployment remains a source of headache more to residents of Coast and Western regions at 60 and 58 per cent, with their counterparts in Central (39 per cent) least concerned with the challenge.

Jubilee said it would create jobs for young generations, but to the surprise Present Uhuru Kenyatta shocked Kenyans by recycling old losers in politics by recent appointments. This is indeed a political suicide.

Jubilee is on the process of retrenching civil servants. When this happens many children will not be able to go to school because their retrenched parents will not be able to cater for their school fees and basic needs.

Unless the amendments to the Finance Act of 2012, which introduced a 10 per cent excise duty on transaction fees for financial as well money transfer services are not made, many Kenyans are going to suffer a great deal.

Most young people graduate from school and there is no immediate system to accommodate them, this result into hopelessness and at times misery resulting in suicides.

Yet suicide in Kenya is not openly discussed, one it is treated as a criminal offence. The survivors of a suicide attempt end up in jail instead of a correctional mental facility. Where the individual managed to kill him or others too, the people close to the victim may refuse to report the case to government agencies for fear of being victimised or charged.

Yet still, suicide has taken a new trend in Kenya where teenagers between 13-15 years have increasingly resorted to it following what they term as failure in the national exams. This leaves them feeling worthless, depressed and incompetent.

For example, when the 2011 KCPE results were announced, the media reported several incidences of candidates who resorted to suicide when they did not perform as anticipated.

Family dysfunction such as divorce and separation also affects young people’s response to issues in life. Most of the young people who commit suicide do it with the mindset that they are punishing their parents.

Fr Joachim Omolo Ouko, AJ
Tel +254 7350 14559/+254 722 623 578
E-mail omolo.ouko@gmail.com
Facebook-omolo beste
Twitter-@8000accomole

Real change must come from ordinary people who refuse to be taken hostage by the weapons of politicians in the face of inequality, racism and oppression, but march together towards a clear and unambiguous goal.
-Anne Montgomery, RSCJ
UN Disarmament
Conference, 2002

NFIA Bill: Why Stakeholders Declared Support–Group

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From: Cheekless 2011

Paul Kingston

A group of Civil Society Organisations under the aegis of Civil Society Coalition against Corruption believes that key stakeholders in the country threw their weight behind the establishment of the Nigerian Financial Intelligence Agency during last Monday’s public hearing on the bill in the interest of the nation.

A Communication Consultant and Spokesman of the group, Walter Duru revealed this while addressing newsmen in Abuja yesterday.

Duru, who expressed delight at the voting pattern and the overwhelming support for the Bill commended the stakeholders for putting the nation’s interest above personal gains.

He reiterated the determination of civil society organisations in the country to fight the menace of corruption in order to guarantee the future of the nation.

Stakeholders at the public hearing held on Monday, 16th December, 2013 at the new Senate building, took turns to commend the sponsors of the bill for what they described as a strategic legislation to strengthen the legal framework in the war against money laundering, terrorism financing and corruption in Nigeria.

First on the list was the Attorney General and Minister for Justice, whose representative declared total support for the passage of the Bill and by implication, the establishment of the agency.

Next to speak was the Economic and Financial Crimes Commission, whose secretary, Mr. Emmanuel Adegboyega, in what was glaringly an unpopular opinion, opposed the bill.

The EFCC Secretary, while presenting the position paper of the agency, also faulted the regulatory powers granted the proposed agency.

According to Adegboyega, “the proposed NFIA, if made autonomous, would be exploited by politicians, adding that “it is also open to a floodgate of injunctions, restraining orders and other litigation to stall anti-corruption trials.” He therefore told the Senate Panel that “the Bill is unnecessary and should be jettisoned”

In what appeared like a reaction to EFCC’s position, Nigeria’s apex Bank, the Central Bank of Nigeria reiterated the urgent need for the creation of the new agency, describing it as long overdue.

Director, Legal Services, Central Bank of Nigeria (CBN), Mr. Amusa Ogundana, who represented the CBN governor, Malam Sanusi Lamido Sanusi, said the apex bank is in support of the establishment of the NFIA, although it recommended some amendments to the bill, especially, the area that gives regulatory and supervisory powers to the proposed agency.

“We are not opposing the NFIA Bill. We are in support and we encourage it.”

In his presentation, representative of the National Intelligence Agency, Norman Smith Nwokoma declared the Agency’s support for the bill. “NIA is in full support of the bill.”

He argued that the Nigerian Financial Intelligence Unit, as is presently constituted is not known to the country’s law.

Making reference to a purported board resolution cited by the EFCC representative, Nwokoma described the document as fake and challenged the Commission to produce evidence of the board meeting where the resolution was made. He challenged all present to put public interest first above pecuniary interests, even as he accused the EFCC of insincerity.

Similarly, Mrs. Blessing Egbefor, who represented the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) said the bill, when passed into law, would strengthen the fight against financial crimes in Nigeria.

Also in his presentation, representative of the National Drug Law Enforcement Agency (NDLEA), Mr. Joseph Sunday, reiterated that the NFIU as presently structured lacked legal status.

Sunday, who is the NDLEA Director of Prosecution and legal services, said the agency supported the bill because it would empower the FIU to effectively disseminate financial intelligence to law enforcement agencies and other stakeholders.

“We are fully in support of the NFIA bill. There is a fundamental problem with the present structure of NFIU.”

In its own contribution, the Independent Corrupt Practices and other related offences Commission, ICPC threw its full support for the bill, even as it commended the Senate for strengthening legislations on anti- corruption.

Adding its voice, the Nigerian Police Force joined the league of supporters, to the amazement of many and threw its weight behind the Bill.

The Directorate of State Security, which was represented by Mr. C.I. Osagie threw its full weight behind the bill.

Osagie however took a swipe on the Economic and Financial Crimes Commission over what he described as its insincerity in the handling of public service.

He further argued that the establishment of the NFIA as a central Agency responsible for assessing, analyzing and disseminating financial intelligence to law enforcement and other relevant agencies is not only in conformity with international best practices, but a boost to the war against money laundering, corruption and terrorism financing in Nigeria, even as it will give the stakeholders confidence in dealing with the agency.

The National Insurance Commission (NAICOM) and the National Accountants of Nigeria, represented by Nze Joseph Okoro both declared support for the bill.

Thirteen, out of the fourteen government Agencies present at the hearing all declared their support for the bill. Only the EFCC opposed it.

Nigerian Customs Service and Ministry of Finance were conspicuously absent at the public hearing.

Civil Society Organisations also came out en mass to participate in the public hearing. They all threw their weight behind the bill, describing it as very strategic in the fight against corruption, money laundering and terrorism financing in Nigeria.

Among the Civil society organisations present were: International Federation of Women lawyers, Nigerian Bar Association, Media Initiative Against Injustice, Violence and Corruption, International Association of Criminal Justice Practitioners, Zero Corruption Coalition, Civil Society Legislative Advocacy Center, Network on Police Reforms in Nigeria and Independent Service Delivery Monitoring group.

Others include: Foundation for environmental rights advocacy and development (FENRAD), Center for community inclusion and disability studies, National emergency department inventory, Citizens Centre for integrated development and social rights, change movement Nigeria, Locale 2020/Nigeria, Educational watch center, Independent advocacy project, among others.

Earlier in his address, Chairman, Senate Committee on Drugs, Narcotics, Financial Crimes and anti-Corruption, Senator Victor Lar, said the National Assembly is driven only by national interest and considerations not individual and parochial interests.

He urged participants and stakeholders to put the interest of the nation above personal aims in the course of the meeting.

The NFIA Bill aims at establishing a national agency that will be responsible for the receipt of information from financial institutions and designated non-financial institutions, analysis of the financial information for the purpose of turning the information into financial intelligence and dissemination of the financial intelligence to all law enforcement agencies.

The Bill will ensure that the NFIU is not tied to any agency but will have adequate measures to build an independent financial intelligence system, in conformity with international standards and best practices.

NFIU autonomy is part of the Financial Action Task Force Standard Requirements to remove Nigeria from the list of “High Risk” jurisdiction countries of the world.

New UBA chairman appointment highlights dynamic growth in African markets

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From: News Release – African Press Organization (APO)
PRESS RELEASE

New UBA chairman appointment highlights dynamic growth in African markets

Lagos, Nigeria, December 19, 2013/ — United Bank for Africa (UBA), the pan-African financial services group in which investment company Heirs Holdings (http://www.heirsholdings.com/) has a strategic interest, has announced the appointment of a new board chairman, Ambassador Joe Keshi. The appointment of Ambassador Keshi, who brings significant foreign service experience, signals the increasing importance of UBA’s pan-African and global network.

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/heirs-holdings.jpg

Picture of Joe Keshi: http://www.photos.apo-opa.com/plog-content/images/apo/photos/joe_keshi.jpg

Heirs Holdings Chairman, Tony O. Elumelu (http://www.tonyelumelu.com/), who retired as Group Managing Director and CEO of UBA in 2010 and whose strategic vision is responsible for today’s UBA, confirmed that Keshi’s appointment would add significant value to UBA’s shareholders.

Elumelu said, “Joe Keshi brings to this position a track record of rigorous governance, an international perspective and experience in policy formulation. These qualities are critical to UBA’s strategy of consolidating its position as the leading pan-African financial services group in Africa.”

He added, “This appointment lays to rest some of the ill-informed speculation relating to my own possible return to UBA. With Heirs Holdings developing an increasingly diversified portfolio, including Transcorp (http://www.transcorpnigeria.com/), as well as Tenoil (http://www.tenoilenergy.com/), Afriland (http://www.avonhealthcare.com/), our real estate business, and Avon Healthcare, leading Heirs Holdings and ensuring that we capture the many exciting opportunities in Nigeria and across Africa, requires my full time attention. I can think of no better person than Joe Keshi to lead UBA.”

Ambassador Keshi has over 35 years of public service, working at the highest levels of government administration in Africa and during his career served as Permanent Secretary, at the Nigerian Ministry of Foreign Affairs; Charge d’Affaires, Embassy of Nigeria, The Hague, Netherlands and Consul-General of Nigeria in Atlanta, USA. Ambassador Keshi was first appointed to the UBA Board in 2010 and became Vice Chairman in 2011. Ambassador Keshi’s appointment follows the retirement of Chief Israel Ogbue, a member of the UBA Board since 2005 and who has served as Chairman since January 1, 2011.

Speaking on his appointment, Ambassador Keshi said, “UBA has demonstrated ability for creating sustained value for our various stakeholders. Our pan-African footprint, particularly, gives UBA an extremely effective platform for harnessing and indeed contributing to, the growing economic potential of African markets.”

UBA Group is a significant investment within Heirs Holdings’ financial services portfolio and is listed on the Nigerian Stock Exchange. The UBA Group closed third quarter 2013 with operating income of N130 billion and total balance sheet size of N3.03 trillion.

A leading pan-African financial services group with presence in 22 countries globally, UBA has a strong retail franchise providing banking services to over 7 million customers through over 750 branches and other customer touch points in 19 high growth African markets.

About Heirs Holdings
Heirs Holdings is a pan-African proprietary investment company driving Africa’s development. We are active long-term investors who specialise in building businesses and corporate turnaround. We aim to transform the companies in which we invest and grow them into businesses that last. We invest in Africa to create value for our shareholders and partners, and to create economic prosperity and social wealth for the continent. Our investments in power, financial services, oil and gas, real estate and hospitality, agri-business and healthcare are helping to build economies, create jobs, drive prosperity and ultimately transform the lives of ordinary Africans in Africa.

SOURCE
Heirs Holdings

Special Rates for KDA Members and Affiliates to Kenya Diaspora Home-coming Conferences: Dec 19 – 21, 2013

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From: Shem Ochuodho

Many thanks, Nd. Robin.

Yes, Diasporians, Friends and Relatives of Diaspora (which we all are) are encouraged to participate at the forthcoming two days’ landmark Diaspora conference tomorrow Thursday and Friday at the Safari Park Hotel. H.E, the President and other senior government officials are expected to grace the event.

The Kenya Diaspora Alliance (KDA), including its affiliate member organizations Kenya Diaspora Initiative (KDI) and the Diaspora Investment Club (DICL) are co-organizers of the event, alongside GoK (OP and Ministry of Foreign Affairs) and the private sector, including Nation Media, KQ, Safari Park Hotel, etc.

Despite Diaspora being treated in the periphery and consequently, being misunderstood, we are as much part of the Kenyan psyche as any other citizen. Apart from being nearly 10% of the total population (at an [under-]estimated 3 million), its economic contribution is even more significant. On average, Diaspora has been remitting about US$ 1 billion per year into Kenya’s economy over the past 10 years or so. In 2010 there was a spike to US$ 1.8 billion according to CBK and World Bank figures. Last year (2012), it is reported to have been US$ 2.6 billion, being 4 times more than tourism (wrongly considered the highest forex earner) at US$ 700 million a year!

The remittance figure for last year (~ KSh 225 billion) is about a quarter of Kenya’s total annual national budget, and by far more than all development assistance (from Chinese, Americans, British, etc all combined) as well as the total average annual foreign direct investment (FDI). And this excludes remittances through informal channels as well as those from “Diaspora corporates” (like Equity, KCB, KQ, etc which trade in other countries and bring in earnings), all which could possibly double the value of actual total remittances. Even if some of it goes into ‘family’, it still plays an important national role. Yet Diaspora’s role transcends way beyond voting numbers and remittances – into Diaspora diplomacy, sport, culture, technology & skill transfer, investment and trade, labour export, etc.

Aren’t these reasons enough to come and join Diaspora tomorrow and Friday? You will also have the opportunity to test-drive the ‘next big thing’, m-kura. It allows you to simply sambaza your vote instead of standing on a queue for 3-4 hours in a hot sun or rain! If you want to access it in advance and you have Android phone or similar, simply search among ‘Google Apps’ or “Appstore” and download. Look for “m-kura”.

Reserve early to avoid any disappointments. Kind regards,
Shem

On Wednesday, 18 December 2013, 11:12, Robinson Gichuhi wrote:

Greetings to all our friends and comrades within the Kenya Diaspora Alliance framework

Dear Diasporan !

This is your Special Invitation

Following urgent and special negotiations between KDA and the organizers of the Kenya Diaspora Initiative, arrangements have been made to make pricing incentives for those who would like to attend the conference (starts tomorrow) while still supporting the strategic initiatives of the Kenya Diaspora Alliance.

For those who are ready to pay the Kshs. 5,500 attendance fee, 50% of that fee will be credited to the KDA Program Account to support the push for voting in 2017 and other office expenses as we strengthen the Nairobi Secretariat. KDA operations have been supported by personal initiatives to date but the expenses are weighing down on co-conveners and it is critical that you support the cause to ensure that your diaspora objectives are achieved.

To purchase a ticket, please call Wanjiru Mbugua on +254722337845 and she will be able to take payment on behalf of KDI/Diamond Media. When making payment, please indicate that you are an affiliate or member of KDA.

More information on the conference: http://www.jambonewspot.com/kenya-diaspora-homecoming-conference-december-19th-21st-2013/?fullweb=1

If you cannot attend the Nairobi conference, but would still lie to make a donation to KDA, please donate online at http://kenyadiasporaalliance.org/fundaising/ or contact Dr. Shem Ochuodho [+254725016679] to get an MPESA number for direct to bank (in Kenya) donations.

The future of Kenya depends on the the Diaspora. Take action today.

Robinson Gichuhi
+1.636.344.0023 | Skype: robinsongichuhi

Why and how African governments should transform their agriculture spending

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From: Yona Maro

In 2003, the Maputo Declaration of the African Union stated that, within five years, 10 per cent of the budgets of member states would be dedicated to agriculture. Ten years on, despite spending increases by some countries, African governments still allocate an average of only 5 per cent of their national budgets to agriculture. Only seven out of 49 countries in sub-Saharan Africa have consistently reached the 10 per cent target. This failing is holding back food production and food security in Africa, where 223 million people (a quarter of the population) live in hunger.

Link:
http://www.actionaid.org/sites/files/actionaid/walking_the_talk_full_report_final.pdf
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Sustainable Energy for All in Africa: AfDB gathers partners in Tunis to advance Sustainable Energy for All in Africa

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From: News Release – African Press Organization (APO)
PRESS RELEASE

AfDB gathers partners in Tunis to advance Sustainable Energy for All in Africa

Since its launch, more than 80 Governments from around the world have formally engaged with the initiative, with 42 African countries “opted-in”

TUNIS, Tunisia, December 18, 2013/ — The African Development Bank (http://www.afdb.org) as host of the Sustainable Energy for All (SE4ALL) Africa Hub organized a two-day workshop in Tunis with representatives of partner institutions. The workshop was organized in collaboration with the Global Facilitation Team headed by Kandeh Yumkella, the Special Representative of the UN Secretary General on SE4ALL. Since its launch, more than 80 Governments from around the world have formally engaged with the initiative, with 42 African countries “opted-in”.

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/african-development-bank-2.png

The workshop was attended by the SE4All Africa Hub partners: the African Union Commission (AUC), the NEPAD Planning and Coordination Agency, and the United Nations Development Programme (UNDP), as well as by representatives of the European Commission, World Bank, European Investment Bank (EIB), United Nations Environment Program (UNEP), UN Foundation, Kreditanstalt fuer Wiederaufbau (KfW), the UK’s Department for International Development (DFID), Eskom, the ECOWAS Center for Renewable Energy and Energy Efficiency (ECREEE), the Ghana Energy Commission, amongst others. The workshop was successful in agreeing on a common framework and methodology to move SE4ALL forward at country-level, notably the development of SE4ALL Action Agendas and Investment Prospectuses that will provide a tool for mobilizing public and, in particular, private sector investments in the energy sector. The workshop participants also agreed on a tentative list of around 10 African countries on which efforts will focus in 2014.

During the workshop, Kandeh Yumkella met with AfDB President Donald Kaberuka, who is also an SE4ALL Advisory Board Member, and praised the work of the Bank as host of the SE4All Africa Hub. Donald Kaberuka said that the Bank considers it critical for the success of SE4ALL to be able to relatively quickly demonstrate concrete progress at the country level. The Bank will support a number of African countries with developing SE4ALL Action Agendas. In addition, the Bank stands ready to mobilize its full range of financing instruments to advance the SE4ALL agenda and to leverage additional investments notably from the private sector.

This workshop followed the 2nd Advisory Board meeting of the Sustainable Energy for All (SE4ALL) Initiative held in New York on November 26-27, 2013. It demonstrated both the momentum of the initiative and the opportunities that the initiative presents for Africa.

About SE4All Africa Hub: The UN Secretary General’s Sustainable Energy for All (SE4ALL) initiative was launched in September 2011 with the aim of achieving three main goals by 2030: (i) ensuring universal access to modern energy services; (ii) doubling the global rate of improvement in energy efficiency; and (iii) doubling the share of renewable energy in the global energy mix. The African Development Bank is at the forefront of the implementation of the SE4ALL Initiative and hosts the SE4ALL Africa Hub since May 2013 in partnership with the African Union Commission and the NEPAD Planning and Coordination Agency and with the support of UNDP. The mission of the SE4ALL Africa Hub is to coordinate and facilitate the implementation of the SE4ALL initiative on the African continent. The Hub will promote African ownership, inclusiveness and a comprehensive approach to the initiative’s implementation.

Distributed by APO (African Press Organization) on behalf of the African Development Bank (AfDB).

Contacts:

Media: Penelope Pontet de Fouquieres, Knowledge Management and Communications, T. +216 71 10 19 96 / C. +216 24 66 36 96 / p.pontetdefouquieres@afdb.org

Technical contact: Daniel-Alexander Schroth, SE4All Africa Hub coordinator, d.schroth@afdb.org

SOURCE
African Development Bank (AfDB)

USA: Creating Jobs by Investing in Ohio’s Clean Energy Economy

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From: Senator Sherrod Brown

We are a nation of builders and innovators. Harnessing that creative energy, manufacturing created a middle class that strengthened our communities and provided opportunity for countless Americans. Manufacturing helped make the middle class. In fact, manufacturing jobs have a larger multiplier effect than any other industry. For every $1.00 spent in manufacturing, another $1.48 is added to the economy.

Across Ohio, I meet with manufacturers who understand the opportunities that are being created in Ohio’s clean energy economy. Ohio has the fifth-highest number of clean energy jobs in the nation, with more than 29,000 of them in manufacturing.

Ohio’s clean energy economy is also adding jobs at a much faster rate than the state’s overall economy: the Ohio’s clean energy economy increased by 8.5 percent from 2007 to 2010, while Ohio’s economy as a whole lost nearly 350,000 jobs over the same period, a decrease of roughly 6.1 percent.

A recent report revealed that we can create jobs and revitalize our manufacturing base by investing in the clean energy economy and strengthening valuable energy programs, such as renewable energy standards and federal tax credits for wind and solar power. Energy we produce, or save, is energy that we do not have to buy from foreign sources. And our global competitors understand this.

That’s why other nations – including China – are taking big steps in advanced and renewable energy. In fact, China now has the world’s largest renewable energy capacity. Yet with this increased capacity, we are witnessing Chinese efforts to play by their own rules and give their businesses an unfair advantage. We all know that trade with China poses big challenges and opportunities for U.S. producers.

I’ve worked on a bipartisan basis to urge the Obama Administration to take stronger trade enforcement measures, to respond to the challenges of Chinese subsidies. But trade enforcement alone is not enough.

That’s why Senator Blunt and I introduced the bipartisan Revitalize American Manufacturing and Innovation Act of 2013. It would create a Network for Manufacturing Innovation – to position the U.S. as the world’s leader in advanced manufacturing.

We do better when we work together – and a Network for Manufacturing Innovation would establish a public-private partnership giving small businesses, industry leaders, and research institutions the tools they need to compete on a global scale.

These regional, industry-led hubs will leverage local expertise and will hopefully create thousands of high-paying, high-tech manufacturing jobs for next-generation workers.

In August, the first-ever National Additive Manufacturing Innovation Institute (NAMII), now called America Makes, opened in Youngstown, Ohio. This hub is becoming a national model for tying together manufacturing supply chains with product development – something that will benefit all manufacturing sectors.

Our workers have the drive, the creative thinking, and the determination to out-innovate the rest of the world. We just need to make sure they have the tools and resources to do so – and investing in clean energy manufacturing is a step in the right direction.

Sincerely,

Signature

Sherrod Brown
U.S. Senator

Washington, D.C.
713 Hart Senate Building
Washington, DC 20510
p (202) 224-2315
f (202) 228-6321

Columbus
200 N High St.
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Columbus, OH 43215
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Toll Free
1-888-896-OHIO (6446)

Geocoding: A Route to Deeper Transparency for the African Development Bank

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From: Yona Maro

One of the purposes of the International Aid Transparency Initiative (IATI) was to make information about aid not only more transparent, but easier for stakeholders in developing countries, and elsewhere, to actually use. Geocoding is one of the most exciting developments in this regard, meaning aid money can be traced to a close approximation of where its ultimate beneficiaries will be. The African Development Bank (AfDB) has been asked to guest blog for Development Initiatives (DI), with an update on the geocoding project they are undertaking with the support of AidData. We hope this inspires other publishers to explore the benefits of geocoding their IATI data.

The African Development Bank (AfDB) has proved its commitment to transparency by joining the ranks of over 190 development organisations which are publishing data to the International Aid Transparency Initiative. It has been ranked 7 out of 67 donors by a report from Publish What You Fund (PWYF) released on October 24, 2013. This ranking places the AfDB as second Multilateral Development Institution (MDB) just after the International Development Association (IDA) of the World Bank Group.
Overall, it is the highest scoring International Financial Institution (IFI) and regional development bank. Having disclosed data on both its public and private sector activities as well as providing precise geocoded information, the AfDB has also developed its disclosure and access to information policy. Effective since February 2013, this policy will help it prove its commitment to transparency in carrying out its projects.

This blog, a guest post by Sohir Debbiche, gives some insight into one of the major aspects of the AfDB’s new focus on transparency: geocoding. What is geocoding, why is the AfDB doing this, and how is it being implemented?
Link:
http://aiddata.org/blog/geocoding-a-route-to-deeper-transparency-for-the-african-development-bank

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Housing in Africa: Economic growth, exponential urbanization and a growing middle class are hampering the provision of adequate housing in Africa – AfDB

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african-development-bank.png
From: News Release – African Press Organization (APO)
PRESS RELEASE

AfDB Approves US $20 million Trade Finance Line of Credit for Shelter Afrique to Support Real Estate SMEs

Economic growth, exponential urbanization and a growing middle class are hampering the provision of adequate housing in Africa – AfDB

TUNIS, Tunisia, December 11, 2013/ — The Board of Directors of the African Development Bank (AfDB) (http://www.afdb.org) approved on Wednesday, December 11 a US $20 million Trade Finance Line of Credit for the Company for Habitat and Housing in Africa/Shelter Afrique (SHAF) to boost the availability of Trade Finance (TF) instruments to small and medium enterprises (SMEs) involved in real estate and construction related activities in Africa. Thereby, this facility will contribute to addressing the critical shortage of building materials while creating jobs and income in the region.

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/african-development-bank-2.png

Economic growth, exponential urbanization and a growing middle class are hampering the provision of adequate housing in Africa. The construction industry is growing at 20 per cent per annum, but this cannot sufficiently address the rising demand for housing partly due to a wide financing gap for construction and building materials. The public and private sectors have so far been unable to deliver sufficient resources to meet this expanding working capital requirement. Where funding is available, pricing remains prohibitive.

SHAF is the only pan-African organization devoted to financing the development of proper housing and human settlements in Africa. Created in 1982 and headquartered in Nairobi, Kenya, this pan-African housing finance and development institution addresses acute shortage of housing by providing financial and technical resources for sustainable housing and urban development. SHAF’s current shareholding comprises 44 African countries, AfDB and Africa Reinsurance Corporation (Africa Re). It is worth noticing that AfDB played a key role in the establishment of SHAF as the vehicle for supporting sustainable housing and urban development in Africa.

The AfDB’s four-year facility will allow SHAF to expand its Trade Finance Program, launched in June 2011, under a product diversification strategy to address the acute financing shortage facing real estate developers in Africa. SHAF will also partner with other financial institutions offering TF services to SMEs in real estate construction and building industry and those involved in trading/leasing of building materials and equipment. Through this contribution, AfDB would leverage SHAF’s market knowledge and networks across the continent and hence assist to alleviate some of the structural financing inefficiencies encumbering Africa’s real estate growth.

This facility, boosting the availability of affordable housing in Africa through financial institutions and SMEs involvement, will thereby enhance inclusive growth and private sector development as espoused in the AfDB Long Term Strategy for 2013-2022. Trade facilitation is one of the three strategic objectives of the Bank’s Regional Integration Strategy 2009-2012 as the AfDB seeks to mainstream and institutionalize its engagement in Trade Finance development in Africa.

Distributed by APO (African Press Organization) on behalf of the African Development Bank (AfDB).

Contacts:
Sabrina Hadjadj Aoul, Senior Communications Officer, T. +216 71 10 26 21 / C. +216 98 70 98 43 / s.hadjadjaoul@afdb.org

Yaw Kuffour, Lead Trade Finance Specialist, T. +216 71 10 22 85 / y.kuffour@afdb.org

Press releases are also available on the Bank’s website at http://j.mp/AfDB_Media

SOURCE
African Development Bank (AfDB)

Kenya: multi-billion dollar project in siaya is facing myriads of problems

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NEGATIVE POLITICS AND GREEDINESS FOR THE CHEAP CHEAP HANDOUTS MONEY IS THREATENING TO DERAIL MULTI-BILLION DOLLAR US INVESTOR’S RICE PROJECT IN SIAYA COUNTY

News Analysis By Leo Odera Omolo

Negative politics and anti-development attitude of Siaya politicians is now threatening to derail a multi million investment by an American entrepreneur who has sunk close to Ksh. 10 billion in River Yala Swamp land reclamation project.

Mr. Calvin Burgess an American investor from Okhlohama, US has invested a lot of money in mixed Yala river swamp land measuring about 17,500 hectares in the farm which is located near Ratuoro in Central Alego, Siaya district, Siaya county.

Yala swamp land reclamation project is a multi purpose farm producing thousands of top grade rice, maize, beans, cotton, sorghum, millet, bee keeping, citrus fruits, fish ponds, and other cash crops.

The vast swamp land on both sides of Yala River is covering Bondo, Bunyala, Budalangi and Siaya district. Before Mr. Burgess started this multi billion dollar investment project the massive swamp, now farm land, was home to crocodiles, hippos, pythons, and highly poisonous snakes.

Dominion Farm Limited has now been turned into ultra-modern mixed farm which of late has become the hub of food production inside Luo-Nyanza. However, the work has not been going on smoothly as expected due to gross interference by lead politicians and some local NGOs, environmentalists and local civic leaders, who had turned this most important project into their punching box, thereby incessantly polarizing its progress and expansion.

The war of words intensified earlier this week after the outspoken Gem MP Washington Jakoyo Midiwo fired the first salvo by issuing threats that he will mobilize and lead a mob of ODM supporters to evict the company.

Meanwhile the Dominion Farm Limited has persistently come out to defend its clean record and dismissed numerous allegations of reneging on the agreement signed between it and the defunct County Council of Siaya and Bondo.

Midiwo’s threats prompted the nominated MP Dr. Oburu Oginga and Siaya County Commissioner Joseph Kimigwi to tell Midiwo off over his threats to lead the company’s eviction by the mob of ODM followers and supporters.

Oburu, the elder brother of the ODM party leader Raila Amolo Odinga said it is naïve to evict the investor who has sunk down Ksh. 10 billion in the Yala Swamp rice development project. The MP warned the County Reps and villagers who are reportedly harassing Dominion Group for cheap hand-outs, jobs and other goodies.

“Let us not fight the investor. This behaviour will scare away other potential investors” said the MP, adding that the Government of Kenya and Siaya County residents should instead protect the US Company which has also created job opportunities for thousands of locals.

Dr. Oginga said there are channels of addressing grievances raised by the residents and their leaders and which should be followed. “Because the investment is of great importance to Siaya County and cannot be wished away over petty issues”

“Such a multi billion shillings investment cannot be shut down at the whim of county leaders. It is inconcurrable”, said the administrators.

The commissioner defender the Dominican Group and vowed to beef up security around the project to thwart any attempt to disrupt its operations.

Mr. Kimigwi went on “ Infrastructure that has been brought up by the Dominican Group will always remain the property of the local community and residents should not just look at immediate gains or hand outs.

Midiwo had issued the threats to evict the US company for allegedly failing to comply with agreed and signed with the former County Council of Siaya and Bondo when it leased more than 6, 000 acres of the swamp land for a rice project.

Some local politicians demanded for fresh negotiations at the agreement arguing that the residents have allegedly been given a raw deal by the US multinational company.

The proprietor, Calvin Burgess, has however dismissed Midiwo’s claims saying the project has employed thousands of workers from the surrounding villages and locations both skilled and unskilled.

This US multinational firm has also revived the old ginnery in the region which went burst many years ago due to poor management by co-operative sorcery and is now encouraging cotton growing in the region

It has established the honey processing plant within its own compound. The firm is known to have freely supplied mosquito nets to the villagers in the malaria prone region for free.

Dominion has vehemently denied the allegations and claims that it is not helping the local RESIDENTS.

Ends