2018 African Economic Outlook: African Development Bank makes a compelling case for Africa’s industrialization

The Bank would organise the Africa Investment Forum on November 7-8, 2018 in Johannesburg, South Africa, to mobilise funds for infrastructure development, to bridge an estimated funding gap of $130-$170 billion a year

AudioAge – Abidjan, Ivory Coast – January 19, 2018 – The President of the African Development Bank (www.AfDB.org), Akinwumi Adesina, has made a compelling case for accelerating Africa’s industrialization in order to create jobs, reduce poverty and promote inclusive economic growth.

Citing data from the Bank’s 2018 African Economic Outlook (http://APO.af/GHTmei) launched in Abidjan, Côte d’Ivoire, on Wednesday, Adesina said infrastructure projects were among the most profitable investments any society can make as they “significantly contribute to, propel, and sustain a country’s economic growth. Infrastructure, when well managed, provides the financial resources to do everything else.”

Noting that economic diversification is key to resolving many of the continent’s difficulties, he urged African governments to encourage a shift toward labour-intensive industries, especially in rural areas where 70 percent of the continent’s population resides.

“Agriculture must be at the forefront of Africa’s industrialization,” he said, adding that integrated power and adequate transport infrastructure would facilitate economic integration, support agricultural value chain development and economies of scale which drive industrialization.

He reminded the audience of policy-makers and members of the diplomatic corps in Côte d’Ivoire that economic diversification via industrialization with tangible investment in human capital will enable the continent’s rapidly growing youth population to successfully transition to productive technology-based sectors.

Adesina also highlighted the relatively unknown win-win situation that Africa’s industrialization can generate within the developed world, citing data from the report, which notes that “increasing the share of manufacturing in GDP in Africa (and other Less Developing Countries) could boost investment in the G20 by about US $485 billion and household consumption by about US $1.4 trillion.”

The Bank President highlighted various innovative ways in which African countries can generate capital for infrastructure development and what the Bank is doing through its ambitious High 5 development agenda to address the issues raised in the report.

He announced that the Bank would organise the Africa Investment Forum on November 7-8, 2018 in Johannesburg, South Africa, to mobilise funds for infrastructure development, to bridge an estimated funding gap of $130-$170 billion a year, up from previous estimates of US $100 billion per year.

New infrastructure financing gap estimates and innovative ways through which African countries can raise funds for infrastructure development are among the highlights of the 2018 edition of the report, which was launched at the Bank’s headquarters for the first time in the publication’s 15-year history.

The African Economic Outlook was first published in 2003 and launched mostly in various African capitals outside the Bank’s headquarters in May each year.

In his remarks, Célestin Monga, the Bank’s Chief Economist and Vice-President for Economic Governance and Knowledge Management, said the African Economic Outlook has become the flagship report for the African Development Bank, providing data and reference material on Africa’s development that are of interest to researchers, investors, civil society organizations, development partners and the media.

This year’s edition focuses on macroeconomic development and structural changes in Africa, and outlines economic prospects for 2018. The report emphasizes the need to develop Africa’s infrastructure, and recommends new strategies and innovative financing instruments for countries to consider, depending on levels of development and specific circumstances.

Abebe Shimeles, Acting Director, Macroeconomic Policy, Forecasting and Research, said the Bank will publish Regional Economic Outlooks for Africa’s five sub-regions. The self-contained, independent reports, to be released at the Bank’s Annual Meetings in May 2018, will focus on priority areas of concern for each sub-region and provide analysis of the economic and social landscape, among other key issues.

Participants at the launch session, moderated by the Bank’s Director of Communications and External Relations, Victor Oladokun, included members of the diplomatic community in Côte d’Ivoire, representatives of international organisations and multilateral development banks, civil society and the media.

The African Economic Outlook is produced annually by the African Development Bank. The full report is available in English, French and Portuguese at www.AfDB.org/aeo. Official hashtag: #2018AEO

For more information or to request a hard copy of the report, please contact:

SOURCE
African Development Bank Group (AfDB)

MEDIA CONTACT
Olivia Ndong Obiang, Principal Communication Officer, tel. +225 7575 0215, O.Ndong-Obiang@AfDB.org
Solange Kamuanga-Tossou, Media Relations Assistant, tel. +225 2026 2978, S.Kamuanga-Tossou@AfDB.org

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NFF/Zenith Bank Tourney: The future is here – Akinwunmi

AudioAge – Lagos, Nigeria – 20 December 2017 –  NFF 1st Vice President and Chairman of the NFF Youth Football Committee, Barrister Seyi Akinwunmi was full of elan and elocution on Tuesday, after another successful and highly inspiring conclusion to the NFF/Zenith Bank Future Eagles Championship.

This year’s event was concluded at the Agege Stadium. Five days of exciting youth football in Kano came to an exciting finale in Lagos with South East U15 boys emerging champions after a 5-2 spanking of their North West counterparts.

Yet, there were so many talents on display on both sides that Akinwunmi, who is also Chairman of the NFF Football Committee, was much delighted: “I am very happy at what I am seeing here. We can safely say the future is here. I had no doubt when we started this programme that we were on to a great thing.

“Indeed, in the next two years or thereabouts, we would have no reason to go outside this competition to pick our U17 National Team. We are also emphasizing the importance of combining academics with football. Any player who is unable to do this will be dropped. You can never compare the ball sense and guile of a player who is combining education with football career with that of one who is unable to.”

Most Valuable Player and Top Scorer of this year’s competition, Divine Nwachukwu netted a hat –trick to steer the South Easterners to glory. His goals came in the 32nd, 43rd and 53rd minutes. Franklin Eneh had put South East ahead in the 21st minute, with Oluebube Oguduba sealing victory for them in the 75th minute. Ibrahim Saifulahi netted both goals for equally impressive North West in the 52nd and 60th minutes.

South West emerged champions of last year’s edition.

“Football is about catching them young and this is what we are doing. Talented players abound everywhere in this country and you only need look for them to get enough. We will not relent but will even intensify the programme to bring the best from all the zones. My joy is that the sponsors (Zenith Bank) are also happy with this and have expressed immense joy at how this is turning out.

“With the raw talents that we have, all that is left is for us to find ways of exposing them, and we will work very hard at that. We will also ensure we bring the selected players to camp periodically to nurture their talent and add finesse to their game,” Akinwunmi added.

NFF President Amaju Pinnick, Executive Committee members Ibrahim Musa Gusau, Yusuf Ahmed Fresh, Sharif Rabiu Inuwa, Babagana Kalli and Chidi Ofo Okenwa, NFF Youth Committee members Busari Ishola, Dotun Coker and Edema Fuludu, Emmanuel Iba (Chairman of Akwa Ibom FA), members of the Lagos State FA and an array of the nation’s top sports editors/managers were among dignitaries at the finale.

North Central had earlier emerged champions of the U13 competition after defeating South West 4-2 on penalties following a 0-0 draw in Kano at the weekend.

The NFF U15 National Team had earlier wowed dignitaries and spectators with an eye-catching performance in a 3-0 defeat of Pepsi Academy in an exhibition match that preceded the final match.

 

HONOURS

Best Coach award – Jude Agada (South East)

Best Goalkeeper – Anthony Okoronkwo (South East)

Golden Boot Award – Divine Nwachukwu (South East: 6 goals)

MVP – Divine Nwachukwu (South East)

 

ALL THE RESULTS

(U13 COMPETITION)

South South 3 North East 0 (W/O)

North Central 2 North West 1

North East 0 South West 3 (W/O)

North West 3 South East 0 (W/O)

South West 0 South South 0

South East 0 North Central 3 (W/O)

South West 2 North West 1

North Central 2 South South 1

 

FINAL

South West 0 North Central 0 (2-4 after penalties)

 

(U15 COMPETITION)

North East 2 South South 3

South West 0 South East 2

South South 2 North West 4

South East 4 North Central 0

North West 1 North East 0

North Central 1 South West 3

North West 4 South West 3

South East 4 South South 1

 

FINAL

North West 2 South East 5

SOURCE
NFF

MEDIA CONTACT
www.thenff.com

GTBank Wins Nigeria’s Best Bank & Africa’s Best Bank for CSR at EMEA Finance Awards…….. MD Named CEO of the Year

AudioAge – Lagos, Nigeria – 11 December 2017 – Foremost African financial institution; Guaranty Trust Bank plc reaffirmed its position as a leading global brand with its recent recognition as the “Best Bank in Nigeria” and the “Best Bank for CSR in Africa.” The Bank’s Managing Director and Chief Executive Office, Segun Agbaje, also won the award for the CEO of the Year, which he won in 2013, thus becoming the first ever repeat winner in the history of the awards

EMEA Finance is a leading bimonthly global industry publication that reports on the major financial events and happenings initiated and influenced by the international financial industry active in Europe, Middle East, and Africa. The award celebrates Africa’s most innovative bank taking into consideration its market strength, profitability, growth and earnings, potential and quality of management of the financial institutions.

According to Christopher Moore, Publisher and Chief Executive of EMEA Finance Magazine: “In recent years, GTBank has attracted laudable accolades for its efforts in growing local communities through key interventions for SMEs in the Fashion and Food industry. This novel initiative of the Bank has enabled it to create free platforms for budding entrepreneurs across Africa to grow their businesses. In recognition of the bank’s effort in impacting local communities across Africa, GTBank is the proud winner of the 2017 Best Bank for CSR in Africa.”

He further stated that “GTBank’s emergence as “Best Bank in Nigeria” demonstrates its ability to continuously deliver notable success by leveraging cutting edge technology to deliver excellent services to a diverse African community and bolster efforts towards on-boarding the unbanked”

Receiving the award on behalf of the Bank, Segun Agbaje, Managing Director/CEO of GTBank said: “We are honored to be recognized as the Best Bank in Nigeria and Africa’s Best Bank for Corporate Social Responsibility. These awards reflect our progress in building strong, value-adding relationships with our customers and demonstrates that of far greater importance to us, beyond providing first class service, is the role we play in our host communities.”

He further stated that “I am humbled to be recognized as CEO of the Year for the second time; this award is a testament to the hard work and dedication of the amazing team of people at GTBank. We will continue to differentiate ourselves by aggressively pursuing innovative solutions that create sustainable value for all our customers and stakeholders whilst championing high impact CSR initiatives to support the economic growth and social progress of our communities.

GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world-class corporate governance standards, excellent service delivery, and innovation. The Bank operates from over 238 branches within the country and has banking subsidiaries in Kenya, Rwanda, Uganda, Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.

SOURCE
GT Bank

GTBank Fashion Weekend Set to Showcase “Africa’s Finest” This November

AudioAge – Lagos, Nigeria – 15 September 2017 – Fashion lovers all over the world can once again look forward to an unparalleled fashion experience as the 2nd edition of the GTBank Fashion weekend is set to hold on the 11th and 12th of November, 2017. The 2-day event will treat attendees to an enthralling journey across a wide variety of Africa’s finest styles and trends whilst offering small businesses in the Nigerian Fashion Industry a free and vibrant platform to connect with a wider segment of their consumers as well as experts in their industry.

The GTBank Fashion weekend is a free business platform that was created by foremost African Financial Institution, Guaranty Trust Bank plc, as part of its efforts to showcase the best of Africa’s Fashion to a global audience whilst promoting the effervescent enterprise of the continent’s growing fashion industry. The 2016 debut of the consumer-focused event received very positive reviews nationally and internationally. Attracting over 30,000 guests over the 2-day period, the event featured a series of master classes, runway shows, and a curated retail exhibition – creating the biggest, most thrilling exposé of African fashion to take place on the continent till date. The retail exhibition gave the over 90 Small Businesses that participated the opportunity to exhibit, sell and connect with consumers, as well as discover new markets.

This year’s Fashion Master Classes will feature global fashion experts such as reality TV personality and runway coach J Alexander, best known for his work on America’s Next Top Model, to renowned fashion entrepreneur and celebrity stylist, June Ambrose to award-winning fashion designer, Giles Deacon.

Other fashion and global media experts scheduled to host master classes at this year’s GTBank Fashion weekend include; Editor-in-Chief of Essence Magazine, Vanessa De Luca; Kenyan-born Vanessa Kingori, publisher of British GQ Magazine – the famed gentleman’s fashion and style magazine; multi-talented Nigerian photographer TY Bello; professional Makeup Artist and Educator, Danessa Myricks; and Fashion Editor & Style Consultant, Shiona Turini.

Fashion enthusiasts will also be treated to the ultimate shopping experience as dozens of Small Businesses will showcase a diverse range of carefully curated affordable and luxury apparel, footwear, accessories, beauty items, and much more. As part of the retail experience, there will be a crafts market featuring indigenous fabric and accessories. Each day of the event will close with a series of epic Runway shows featuring Africa’s finest designers and renowned international designers.

Commenting on the 2017 GTBank Fashion Weekend, Mr. Segun Agbaje, the Managing Director of Guaranty Trust Bank explains the vision behind the event as an “initiative that is unlocking growth opportunities for small businesses and putting African fashion on a global pedestal. The 2017 GTBank Fashion Weekend will not only give visibility to the amazing talents and entrepreneurial drive of our people at home, it will also connect them with fashion leaders abroad, in order to build local capacity and expertise across the entire Fashion Value Chain.”

GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world-class corporate governance standards, excellent service quality, and innovation. The Bank is also going beyond the traditional understanding of Corporate Social Responsibility as corporate philanthropy by intervening in key economic sectors through non-profit consumer-focused fairs and capacity building initiatives for small businesses operating in these sectors.

SOURCE
GT Bank

MEDIA CONTACT
JSP Communications
http://jspcommunications.com/ t  https://twitter.com/jsprelations

Dylan Jones to speak about Global Fashion Trends at the GTBank Fashion Weekend

AudioAge – LAGOS, Nigeria – 14 October 2016 – An illustrious veteran of lifestyle journalism, Dylan Jones has seen it all in the world of fashion and style, having been involved with lifestyle magazines for three decades. Since 1999, Dylan has led GQ to over 30 awards while winning nearly a dozen personal awards in the process, including being appointed an Officer of the Order of the British Empire (OBE) in 2013 by the Queen of England. On the 12th and 13th of November 2016, Dylan Jones will be at the GTBank Fashion Weekend to share his rich insights on the global trends shaping fashion and style.

To register for this masterclass please visit http://fashionweekend.gtbank.com/register-for-masterclass/ limited spaces available.