Connect with us
nairametrics
UBA ads

Business News

Partnering for Growth in Africa

Many African economies offer huge growth opportunities for local companies and global players alike.

Published

on

Growth in Africa

Many African economies offer huge growth opportunities for local companies and global players alike. Tapping this potential and promoting growth and prosperity on the African continent requires new, strong partnerships across borders. Europe can play a crucial role in this. However, that requires new ways of thinking, new ways of politics and strong, trustful collaboration with African societies. It requires African solutions that create value in Africa for Africa.

According to an African proverb, “in the moment of crisis, the wise build bridges and the foolish build dams.” There is no denying that we live in times of uncertainty and growing insecurity, in times that are increasingly shaped by nationalism and exclusion, by narrow interests and populism. These are also particularly critical times for Africa’s development.

UBA ADS

Nevertheless, Africa is a continent on the rise. African nations offer huge growth opportunities for local companies and global players alike. Even countries that are not rich in natural resources have a big chance to drive solid future growth by forging local partnerships in infrastructure investment, using digital technologies, and – above all – ensuring sustainable skills development.

Building – in a symbolic sense – strong, sustainable bridges between Europe and Africa can make a major contribution toward meeting this goal. Yet, Europeans too often ignore that this is the time to go for Africa, that this is the time to build new and stronger partnerships. But fulfilling this partnership role requires a new way of thinking, new policies and strong collaboration with African societies.

Africa needs solutions that create value in Africa for Africa. For example, the continent has voracious demand for electrification and infrastructure. The urban population, for instance, is growing faster in Africa than it is elsewhere. As late as 1990, only 28 percent of the population of sub-Saharan Africa was living in urban areas. By 2018, however, this figure had already climbed to 40 percent – and forecasts anticipate that more than one out of every two people will be a city dweller by 2050. In other words: 30 years from now, more than 1.2 billion people in sub-Saharan Africa will be living in cities. The infrastructure in place today was not designed to support so many people. Ultimately, the task here will be to drive urban development in a way that is intelligent and sustainable – and make electricity and infrastructures affordable. The journey to this destination will frequently involve co-development between the private and public sectors.

GTBank 728 x 90

There are very good reasons to make business in Africa. This continent is home to some of the world’s most dynamic markets. And Africa’s workforce is young. Half of the people living on the continent are under the age of 25. According to projections, Africa will be home to one in five of the planet’s young people by 2040, and the size of its labor force will exceed 1.1 billion by then. With a workforce of this magnitude, Africa has the potential to become one of the key players within the geo-economic order – provided that Africans can acquire the skills needed to actively shape this change.

In Africa, beyond the investments we make in our own employees, we closely collaborate with schools and universities across the length and breadth of the continent. We will continue our commitment to Africa, ensuring that students are able to train on the most advanced Siemens technology available, such as industrial software.

Only recently, we announced various hand-overs of Siemens technology related to industrial automation. Such grants are providing 13 engineering faculties at universities and schools in countries including Nigeria, Ivory Coast, Ghana, Senegal, Tanzania, Kenya and South Africa with integrated engineering capabilities. Making this cooperation possible is part of our commitment to contributing toward sustainable skills development throughout the continent.

onebank728 x 90

Unlike some others, we share our knowledge and expertise, and we train and educate young people. In other words: We invest for the long term and believe that playing an active role in skills development could enable locally engineered solutions to catalyze the industrialization of many African economies and trigger growth on an unprecedented scale. In West Africa, for instance, we must help develop and enhance young people’s technical and entrepreneurial skills to prepare them to hold their own in tomorrow’s digital, knowledge-based global economy.

Another key challenge for West Africa is climate change. Its impact is likely to be more severe in Africa, where regional weather patterns could be affected by global climate change. Phenomena like heat waves, draughts and floodings may cause substantial harm to African societies. Nevertheless, the fight against climate change could open up new opportunities for West African countries while improving their access to electricity.

With courage, clear decisions, strong partners and appropriate investments, these nations could become forerunners of a more sustainable economy, for example by deploying state-of-the-art environmental technologies in addition to highly efficient gas turbines. These efforts could help ensure a sustainable and reliable energy supply while improving the energy mix in many West African countries. Here, too, the countries of this region can count on Siemens as a trusted partner.

app
GTBank 728 x 90

There’s a lot we can do to secure our common future. In 2017, our technologies enabled customers worldwide to reduce their carbon-dioxide emissions by 570 million metric tons. That’s more than twice the total carbon-dioxide emissions of West Africa.  As a leader in climate protection, we use these technologies ourselves. Siemens was the first major industrial company to commit to being carbon neutral by 2030. And we are well on our way toward reaching this ambitious goal.

Yet, reducing emissions is not the only motivation for us to ensure a sustainable energy supply for West Africa. Powering the countries of this region is imperative for us, because energy provides a basis for the region’s economic growth. Prosperity always begins with energy. This resource is then followed by infrastructure in areas such as mobility and urban development. The third element is industrialization, and the fourth is services. However, all four of these elements are interrelated. They each represent one component of a successful, prosperous society.

An outstanding example of the growing economic and social impact of the fourth element – the service sector – is the Siemens Service Center in Port Harcourt, Nigeria. The center is a high-tech facility that not only helps meet customer needs in the region and beyond, but also provides high-skilled employment opportunities for the Nigerian population. It provides field services to customers in Nigeria, other parts of Africa and the rest of the world. Only recently, the center received an order from one of the top five International Oil Companies, which is being supported with advanced digitalization solutions such as remote diagnostic services.

After all, one key trend that applies to Germany and Europe is prevalent in West Africa as well: Digitalization is transforming every industry and every society.

This transformation will no doubt bring about further challenges for all African countries: According to the McKinsey Global Institute report “Harnessing automation for a future that works”, 46 percent of all work activities in Nigeria might be susceptible to automation – as is the case with 51 percent in Ghana, 52 percent in Senegal, 44 percent in Ivory Coast. The experts estimate the automation potential for Kenya at 52 percent, and for South Africa at 41 percent.

app

On the other hand, these changes also create, especially in Africa, the opportunity to embrace new and exponential technologies combined with human talent to accelerate industrialization and drive economic growth.

In other words, electrification, automation and digitalization open up enormous potential for technological and societal progress in Africa. Siemens is the world’s most advanced digital industrial company and helps customers all over the world make use of digitalization’s potential – whether in energy, manufacturing, mobility, infrastructure, or healthcare.

From my point of view, every business has the responsibility to serve society – not just in the short term, but in a lasting way, for the benefit of future generations. We call this approach “Business to Society.” Of course, pursuing this objective in Africa requires a unique understanding of the challenges being faced across the continent and in each nation. At Siemens, we have this understanding. We aspire to “build bridges” instead of dams – and serve society throughout Africa.


by Joe Kaeser, President and CEO of Siemens AG

Patricia

NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Coronavirus

Nigerian Governors who have tested positive for Coronavirus 

Six Nigerian governors have contracted the novel coronavirus, but some have recovered.

Published

on

On Saturday, July 4, Ebonyi State Governor, David Umahi announced that he had tested positive for COVID-19. This makes him the 6th Governor to have tested positive for the virus that has infected over 11 million and killed no less than 532,000 people globally. 

UBA ADS

Kaduna State Governor, Nasir El- Rufai was the first governor confirmed to have been infected and recovered in April. 

Bauchi State Governor, Bala Mohammed, was also infected in March and was reported to have recovered on the 9th of April. 

GTBank 728 x 90

Oyo State Governor, Seyi Makinde, announced that he tested positive on 30th, March, 2020 and his recovery was reported on the 5th of April. 

onebank728 x 90

Ondo State Governor, Rotimi Akeredolu, tested positive last week on June 30th and Delta’s Ifeanyi Okowa announced that he and his wife had tested positive on July 1. 

app
GTBank 728 x 90

So far, the governors who have tested positive for COVID-19 are:    

 

1. Nasir el-Rufai

2. Bala Mohammed

3. Seyi Makinde

app

4. Rotimi Akeredolu

5. Ifeanyi Okowa

6. David Umahi

 

Patricia
Continue Reading

Energy

BUA cement to build power and cement plants in Adamawa state

BUA Cement’s newest plant in Sokoto is expected to be operational in 2021.

Published

on

NPA Decommissioning of Port Harcourt Terminal: We'll vigorously defend, protect our rights - BUA Group, NPA and BUA Group dispute to affect 1000 jobs, $500,000 monthly revenue, Terminal closure: BUA clears air on NPA’s claims , Forbes 2020 world’s richest rankings released: Only 4 Nigerians make exclusive billionaires list

BUA Cement has announced plans to build a 50 megawatts power plant and 3 million metric tonnes cement plant in Lamurde and Guyuk local governments in Adamawa States.

BUA Cement which is Nigeria’s second-largest cement producer by volume with plants in Sokoto and Edo States, with the projects wants the boost the country’s power supply and increase the local production capacity for cement.

UBA ADS

This was disclosed by the Chairman of BUA Cement, Abdul Samad Rabiu, in a press statement on Sunday, July 5, 2020, in Lagos.

The BUA Cement Chairman who led the company’s management team on a courtesy visit to the Adamawa State Governor, Ahmadu Umaru Fintiri, after preliminary findings showed that Guyuk and Lamurde areas had quality limestone.

According to Rabiu, “Preliminary findings show that the two local governments of Guyuk and Lamurde are reputed to have good quality limestone deposits and BUA Cement is ready to begin the investment in the state.

GTBank 728 x 90

“BUA will use new technologies to supply power to the proposed cement plant and communities of Guyuk and Lamurde in addition to providing three thousand direct and five thousand indirect jobs.

“Guyuk Cement Plant will be a major investment in the North-East by BUA, while we solicit the support of Gov. Umaru Fintiri to set up the factory in Guyuk.”

READ MORE: 10 fantastic things Aliko Dangote has done in the last 10 years

onebank728 x 90

He added that while the company has invested billions of dollars in various sectors across Nigeria, it has taken a decision to source its raw materials locally and therefore urged the Adamawa state government to support BUA to actualize the GUYUK Cement project.

The Adamawa State Governor, Ahmadu Fintiri, in his response assured the Chairman and management team of BUA, that the state government would provide all the necessary support and make available whatever was needed to make the projects a reality.

BUA Cement’s newest plant in Sokoto is expected to be operational in 2021 and expects that its total production capacity will get to 14 million metric tonnes of cement per annum upon the completion of Guyuk Cement Plant.

app
GTBank 728 x 90

BUA Cement has been having a running battle with Dangote Cement over the ownership of 3 mining sites in Obu and Okpella in Edo State. The mining sites have been subject of legal tussle between the 2 biggest cement companies in the country.

 

Patricia
Continue Reading

Coronavirus

GSK, Sanofi to agree $624 million deal with UK for COVID-19 vaccine

Both GSK and Sanofi said that they are placing more priority on quality rather than speed.

Published

on

GSK, Sanofi to agree $624 million deal with UK for covid-19 vaccine

British and French pharmaceutical giants, GlaxoSmithKline (GSK) and Sanofi are close to reaching a $624 million (500 million pounds) deal with the United Kingdom (UK) government for the supply of 60 million doses of coronavirus vaccine as many countries move for possible COVID-19 treatments.

Reports suggest that the UK was considering an option to buy the vaccine should the human trials, which are due to commence in September 2020, turn out successful.

UBA ADS

The funds would be paid in stages as the vaccine progresses, with the final payment made on delivery.

In order not to be left behind, the UK government has been engaging a wide range of companies both at home and abroad to negotiate access to vaccines. They said that the right announcements of these arrangements will be made as and when agreements with any of these companies are finalized.

The British business ministry’s spokeswoman, who confirmed that the ministry is handling Britain’s supply of potential COVID-19 vaccines, said talks were going on with different parties about access to possible vaccines but didn’t confirm if GSK/Sanofi project was one of them.

GTBank 728 x 90

READ MORE: Pfizer’s COVID-19 vaccine shows positive results

According to the ministry official, ‘’The Government’s Vaccines Task Force is actively engaging with a wide range of companies both in the UK and abroad to negotiate access to vaccines.”

“Appropriate announcements of these arrangements will be made as and when agreements with any of these companies are finalized and signed.

onebank728 x 90

Sanofi is presently working on 2 possible COVID-19 vaccines, one of which uses an adjuvant made by GSK to potentially boost its efficacy. The timeline for its clinical trials is behind the likes of Moderna Inc, the University of Oxford in collaboration with AstraZeneca Plc and an alliance of BioNTech and Pfizer Inc, whose projects all made headlines by moving to human trials as early as March.

Both GSK and Sanofi said that they are placing more priority on quality rather than speed in developing a vaccine.

 

app
GTBank 728 x 90

Patricia
Continue Reading