Tag: Business

WINDHOEK: The Japanese government has funded two joint projects aimed at increasing access to quality nutrition for vulnerable Namibian communities to the tune of N.dollars 23.5 million over a period of 12 months. The joint projects between the World Health Organisation (WHO) and the Food and Agriculture Organisation (FAO) of the United Nations aim to 'Increase access to quality nutrition and protection services for vulnerable populations, including women and children, in the Omaheke, Khomas and Kunene Regions.' Another initiative, 'Emergency response to enhance resilience and mitigate climate-induced impacts on livelihoods, food and nutrition security of the most vulnerable household in Namibia in the Kavango East, Kavango West and Ohangwena Regions,' was also launched. Speaking at the launch here on Monday, Japan's Ambassador to Namibia, Hisao Nishimaki said the projects are funded under the Japan Supplementary Budget in support of the efforts of the Namibian Government. He said since 2013, 24 projects h ave been funded and implemented successfully by various United Nations agencies to a total cost of N.dollars 320 million, excluding the two newly launched projects. 'The need for support in the health and agriculture sectors is great since everybody needs health care and it is said that more than 70 per cent of the Namibian population depends on agriculture directly or indirectly,' he said. At the same event, WHO and FAO representative Dr Mary Brantuo said the projects will be carried out through the Ministry of Health and Social Services and the Ministry of Agriculture, Water and Land Reform, as well as regional councils. She noted that the projects will increase access to nutrition interventions to prevent and manage malnutrition among women and children in their immediate communities; strengthen the protection of women and children against violence, exploitation and abuse; diversify rural livelihoods; and enhance food production capacity through the distribution of strategic assets and agro-inputs, amon gst others. 'Together we can make a tangible difference in the lives of those who need it most,' she said. Minister of Health and Social Services Dr Kalumbi Shangula meanwhile said the scourge of malnutrition is being experienced in several communities in Namibia. 'While it is a complex matter, the simplest understanding of malnutrition refers to the lack of proper nutrition, caused by not having enough to eat, not eating enough of the right food, or the body of the person affected not being able to use the food that one does eat. For this reason, dealing with and eradicating malnutrition requires a multisectoral, whole-of-government and whole-of-society approach,' he noted. Source: The Namibia Press Agency

KEETMANSHOOP: The Namibia Local Content Conference is scheduled to take place in Lderitz in the ||Kharas Region from Tuesday to Thursday this week. The conference is organised by Antila Consultancy Oil and Gas in conjunction with the Namibia Chamber of Commerce and Industry (NCCI), and it is being held under the theme 'Empowering Namibia's Energy Ambitions by Connecting Industries and Indigenous Talent'. In a statement issued to Nampa on Monday, NCCI Chief Executive Officer (CEO) Charity Mwiya, described the conference as a distinctive platform for private sector players and government to interact, share experiences and identify investment and collaboration opportunities. 'The conference will address key themes such as local content, capacity building, knowledge, and skills transfer, all of which have the potential to unlock growth and development in the oil and gas sector. It is an ideal platform for meaningful dialogue to foster and share information and encourage cooperation, identify local content oppo rtunities, and create a sustainable energy sector in Namibia,' she said. Mwiya highlighted that the energy sector is not only a driver of economic prosperity, but also a catalyst for local development and empowerment, adding that local content is important in the energy sector as it can contribute not only to the growth of the industry, but also to the well-being of the communities in which businesses operate. 'With recent oil and gas discoveries that suggest Namibia is on the verge of a historic oil boom, there is much work to be done to prepare local businesses, particularly MSMEs, for opportunities presented by this industry,' said Mwiya. Maria Mbudhi, CEO of Antila Oil and Gas, is quoted in the statement as saying, 'This conference is testament to our collective belief that, by working together, we can overcome challenges, capitalise on opportunities, and chart a course towards a more sustainable, locally driven oil and gas sector, and the development of respective auxiliary industries.' Mbudhi noted that the conference is not merely about addressing challenges, but also about harnessing collective intelligence to co-create solutions that will stand the test of time, and finding ways to curb corruption. 'We understand that true industry growth and resilience can only be achieved by cultivating a thriving ecosystem of local businesses, each contributing its unique strengths to the collective advancement of our sector,' said Mbudhi. Industry leaders, international oil companies, international service companies, and internationally registered delegates from countries such as Nigeria, Angola, India, Dubai and South Africa are expected to be in attendance Source: The Namibia Press Agency

Mr Kweku Ocran has been appointed as the new Group Chief Executive Officer (CEO) for Star Assurance Group, the parent company of Star Assurance, StarLife Assurance, StarMicroinsurance, StarHealth Insurance, and Pensol Capital Trust. In a media release copied to the Ghana News Agency, the company said Mr Ocran takes over the leadership role from Mr. Kofi Duffuor, the former Chief Executive Officer, who has served the Star Assurance Group and its subsidiaries for more than 30 years. Prior to this recent appointment, Mr Ocran served as the Chief Operating Officer (COO) at Star Assurance Group. 'With an illustrious career spanning over three decades in the insurance sector, Mr. Ocran is a hands-on executive and ascends his new role with a wealth of experience and expertise to guide the group through its next phase of unprecedented growth,' it said. 'Mr Ocran's impactful journey in the insurance industry is highlighted by significant achievements, notably his role as Deputy Managing Director/Chief Operations O fficer at Star Assurance. 'Under his leadership, the company achieved remarkable success, securing its position among the top three non-life insurers in terms of premium income and assets.' Beyond his professional roles, the release said, Mr Ocran's dedication to excellence extended to his entrepreneurial ventures and a strong commitment to knowledge-sharing. 'His contributions as a lecturer and resource person have played a pivotal role in fostering the growth and development of the insurance industry,' it said. 'His leadership style is distinguished by his ability to foster collaboration, encourage innovation, and uphold high standards of corporate governance. 'This sets the stage for an era of progressive leadership and growth for Star Assurance Group.' Mr. Samuel Kweku Ocran, in expressing his gratitude for this new role, stated:' I deem it a great privilege to be appointed as the Chief Executive Officer of the Star Assurance Group. I am humbled by the confidence reposed in me by the management and board, and I remain grateful to them for their unfailing support over the years.' He said: 'With the support of the board, management, and our hard-working colleagues, I am confident that, together, we will continue to bring quality insurance solutions to our clients and continue to raise the standard of insurance in Ghana.' Mr Ocran joined Star Assurance in 2006 and has since held many senior roles. Prior to that, he commenced his insurance career with Vanguard Assurance and Enterprise Insurance as Deputy Manager and Assistant General Manager, respectively. He also worked with the prestigious African Reinsurance Corporation in Lagos, Nigeria, and he has been in the insurance industry as a key player and resource person for over 30 years now. Mr Ocran is currently a board member of the Ghana Oil and Gas Insurance Pool (GOGIP). The new Chief Executive Officer is a Chartered Insurer and a Fellow, and he is also a member of the Chartered Insurance Institute (UK). He is a member of the Chartered Institute of Marketing (UK). He also holds a Master of Business Administration (Marketing Option) degree and a BSc. Admin. (Insurance Option), both from the University of Ghana. Mr. Emmanuel Baiden, who now steps into the role of Group Chief Operating Officer, originally served as the Group Chief Finance Officer. With a career spanning over two decades, Emmanuel has left an indelible mark across various sectors. In 2001, Mr. Baiden embarked on his remarkable tenure with Star Assurance Company Limited, where he amassed extensive experience in the insurance industry, gaining over fifteen years of invaluable insights and accomplishments. 'Mr. Kofi Duffuor, the former Chief Executive Officer, having served over 30 years with the group and its subsidiaries, continues to play a vital role on the Star Assurance Group Board and other boards,' the release said. 'His focus remains on spearheading pivotal strategic initiatives within the insurance realm for the group.' Source: Ghana News Agency

Mr Felix Owusu Gyimah, the Municipal Chief Executive (MCE), Nkwanta South, said the Assembly's collection of revenue has taken a dip due to the ethnic misunderstanding in the enclave. He said revenue collectors had not met targets for its Internally Generated Fund (IGF) for some time now resulting from the current security issues in the Municipality. The MCE said Nkwanta South used to be a bustling business centre in the Oti Region, where mobilisation of the Assembly's revenue was an easy task for the collectors but due to the shooting incidents that rocked the enclave revenue collection had been in limbo. Misunderstanding broke between Akyodes, Challas and Adeles leading to shooting incident that took the lives of some 16 people last October, with subsequent insecurity issues and placement of curfew in the area. Mr Owusu Gyimah said all developmental projects were also in limbo as the Assembly had failed to generate the necessary IGF. He, however, called on all stakeholders, opinion leaders, youth leade rs and citizens to think about the betterment of the area and allow peace to reign. He said the Assembly could not execute any developmental plans due to the security issues and urged all to burry their differences to ensure growth of the municipality. Source: Ghana News Agency

The 2024 ECOWAS Investment Forum (EIF) has called for the pooling of resources to deal with Africa's infrastructure deficit for sustainable development across the continent. Participants at this year's forum, organised by the ECOWAS Bank for Investment and Development (EBID) in partnership with the Togolese Government and the Government of India through Exim Bank India in Lome, Togo, said the continent's infrastructure gap was a significant barrier to its economic growth and social development. The 2024 Forum, on the theme: 'Transforming ECOWAS Communities in a Challenging Environment,' focused on stimulating economic growth, creating sustainable jobs, and building resilience in the face of global challenges. To promote investment opportunities in key sectors of the ECOWAS member states, stimulate economic growth, create sustainable jobs, and build resilience in the face of global challenges such as food insecurity, infrastructure development, and climate change, the EIF 2024 had over 700 participants join ing physically and some 400 others joining virtually. The participants, including representatives from various ECOWAS member states, officials from the ECOWAS Commission, industry experts, managing directors and CEOs of financial institutions, said to unlock Africa's full potential, there was the need to address the glaring deficit in infrastructure through robust resource mobilisation strategies. Mrs. Kanayo Awani, Executive Vice President, African Export-Import Bank (AFREXIM Bank), speaking on 'Infrastructure Deficit: Pooling Resources Towards the Development of Sustainable Infrastructure' said due to its abundant resources and strategic position in global trade and maritime security, Africa continued to play a crucial role. She said Africa's young population offered significant potential for labour and the development of innovative projects. The Executive Vice President said there was a persistent infrastructure deficit, critical for trade and connectivity between various economic stakeholders. The im pact of the deficit, Mrs Awani said amounted to between $130 and $170 billion per year, or two per cent of the Gross Domestic Product each year for Africa. She said the inadequacy of energy infrastructure affects African consumption, with only 30 per cent having access to electricity, leading to a productivity loss of 40 per cent. 'This leaves 600 million Africans without electricity,' she added, and expressed optimism that there were solutions such as innovative financing mechanisms, strong regulatory frameworks that encouraged collaboration among others to be explored. To facilitate investments, Mrs Awani said AFREXIM Bank had established effective guarantee programmes to drive strategic sectors, including infrastructure. Mr Christopher Balliet Bleziri, Resident Representative, International Finance Corporation, Togo, said there was a need to demystify the concept of infrastructure and focus more on government development and job creation. He highlighted their role in assisting governments in developme nt and deployment, particularly in adhering to international standards, and ensuring proper risk allocation. The International Finance Corporation, he said, had implemented hybrid models that financed viability deficits and another combining the public and private sectors on the same project. The hybrid models, Shri G. Balasubramanian, High Commissioner of India to Nigeria, said had a significant impact in India, building 280 kilometers in Western India, both the private and public sectors were involved. 'The viability gap funding is funded 40% by the Indian government. Gold monetization in banks through bond sales has also been implemented in the country,' he explained. Mr Siengui Appolinaire KI, Secretary-General, West African Power Pool (WAPP), said regional electricity infrastructure development faced challenges, particularly in finding public-private partnerships. According to him, it was important to implement Public-Private Partnerships (PPPs) with investments and collaborations, while including s trong government involvement to provide guarantees, generating profits to pay the private sector, and ensuring robust regulation with contracts benefiting all parties to prevent fraud. Source: Ghana News Agency