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Corporate Press Releases

Youth need job-creating mentality not job-seeking minds – TEF

Youth need job-creating mentality and not a job-seeking mentality to create more jobs.

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The Tony Elumelu Foundation (TEF) has called for the need to create a self-reliant Africa where the youth have a job-creating mentality and not a job seeking mentality, as that is the only thing that will ensure that enough jobs are created on the continent.

The call to action was given by the Chief Executive Officer, TEF, Ifeyinwa Ugochukwu, during a press conference.

According to her, the call to action is to development organisations, private sector, and the governments, as they are expected to trust the African Entrepreneur, train the African Entrepreneur and invest money directly in the African Entrepreneur.

She said, “We are leading the charge to ensure that African Entrepreneurs have not just the training, the funding, but also the enabling environment that they need to grow and thrive.

“The impact that we’ve seen from our entrepreneurs and their ability to create jobs, revenue and transform their communities, shows us the power of Entrepreneurship. It is critical to prioritise women because gender inclusivity in our African economy is very important because we know that women make up majority of the workforce in the small and medium enterprises.

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“And that is why we partnered with the European Union, particularly the EU DEFCO to identify, train, fund and mentor an additional 2400 women across all 54 African countries in 2021

“We at the Tony Elumelu Foundation believe that funding and training are 2 sides of the same coin. The key to our partnerships is ensuring that funding is going directly into the hands of these entrepreneurs.”

She added that it was critical for the foundation to lead the charge for economic recovery post-COVID-19 pandemic and “that is why this year’s Application drive for the Tony Elumelu Foundation 2021 Entrepreneurship Programme is particularly important.

“We need to begin to change the narrative and I think that the Tony Elumelu Foundation is leading the new narrative in how to engage in Africa.”

What you should know

The Tony Elumelu Foundation is currently accepting applications to the 2021 Tony Elumelu Foundation Entrepreneurship Programme. All young African men and women with business ideas or start-ups that are less than 5 years old are expected to apply on tefconnect.com.

1 Comment

1 Comment

  1. Joan

    January 7, 2021 at 10:06 pm

    Laudable program.
    I have been having great challenge applying for the grant.some of the fields are not opening and it does not seem to be network issue.please how do I resolve that

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Corporate Press Releases

FITC wins BIZZ, IBX Global Awards for Business Excellence, Strategic Leadership

FITC was announced the winner of the two global awards in an elaborate virtual ceremony held in Doha, Qatar and Houston Texas respectively.

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Financial Institutions Training Centre (FITC)

FITC, the world-class, innovation-led, technology-driven, knowledge and professional services institute has emerged winner of the 2020 Business Excellence Award (The BIZZ Awards) and the Strategy, Change, and Transformation Award (The IBX Awards).

FITC, which provides cutting edge Learning, Advisory and Research Services to organizations within the Financial Services and other sectors, was announced winner of the two global awards in an elaborate virtual ceremony held in Doha, Qatar and Houston Texas respectively.

The Nigeria’s premier knowledge institute, FITC, won the Gold category in The BIZZ awards and Silver category in Strategy, Change and Transformation in the International Business Excellence, IBX Awards in recognition of its phenomenal initiatives that have led to innovative and exceptional transformation within the organization.

Also presented with an award was the Managing Director and CEO, FITC, Chizor Malize, who won the IBX 2020 Award for “Inspirational Leader”. The award was in recognition of the innovative, dynamic and game changing work at FITC in 2020 at the height of the global pandemic resulting in the extraordinary organization wide transformation at FITC and positive impact on the Nigerian financial services sector, FITC’s primary focus area.

Other IBX 2020 Award winners include Microsoft and Virgin Mobile.

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The International Business Excellence (IBX) Awards is part of a global business movement, giving organizations the chance to meet and compete with others from all over the world. Over the last twelve years, IBX Awards have been leading the way in recognising inspirational business practices, holding over 100 events and hosting more than 2000 companies.

Organized by Awards International, the IBX Awards recognises long-term sustainable profitability achieved through the practice of excellence, which occurs across a broad range of disciplines and defines the modern business agenda.

The BIZZ Awards gathers and recognizes leading businesses from different regions that contribute to the daily growth of their local economy and the world economy. THE BIZZ was created by World Confederation of Businesses (WORLDCOB), to offer to the global business community a range of benefits that further their development.

WORLDCOB was founded in 2004 in Houston, Texas, in the United States of America. Its primary mission is to promote business development worldwide, recognizing and boosting the growth of leading businesses and businesspeople in every country through the special tools and services that it offers its members. The organization has approximately 3,500 members representing over 130 countries.

Considered to be the most important business excellence award in the world, The BIZZ Awards is organized and given out to the most outstanding companies and businesspeople in each participating country. The award which targets small, medium and large enterprises was created to recognize businesses with practices worthy of recognition who end up being examples for other businesses to follow in their communities and internationally.

Speaking on the awards, Malize, said the organization would keep going beyond the ordinary in its effort to delivering innovative knowledge solutions to its clients in the Financial Services and other sectors.

“For 40 years, FITC has been an innovator, enabling people and organizations to excel and it was in line with our vision to build a world class innovation-led and technology-driven organization that we defined our six success pillars which are programmes, process, platforms, people, positioning and performance.

“We took deliberate and strategic steps by making significant changes across these key drivers of the positive transformation experienced today by our stakeholders, and which has also culminated to these awards and recognitions being given to our organization today. We are extremely delighted by these awards and we remain committed to helping our clients in the Financial Services and other sectors navigate and advance their careers, while building on our member firms’ successes through our clear vision, strong corporate values, and our culture of excellence,” Malize said.

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Established in 1981 as a non-profit organisation limited by guarantee to provide capacity building and serve as a knowledge hub for the Nigerian Financial Services Sector, FITC is owned by the Bankers Committee, Central Bank of Nigeria, Nigeria Deposit Insurance Corporation (NDIC) and all deposit money banks in Nigeria.

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Over the years, FITC has demonstrated delivery of best-in-class services using a large pool of multidisciplinary and versatile professionals, who provide business support to its numerous clients within the public and private sectors, most notably within the financial services sectors and public sector of Nigeria and Sub-Saharan Africa.

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Corporate Press Releases

Sahara Group celebrates 25 years of global expansion, operational efficiency

Sahara plans to mark its 25th anniversary with several events and activities all through 2021 with the theme, “Harnessing Safe energy today.”

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Executive Director, Sahara Group, Temitope Shonubi has said the energy conglomerate’s impressive growth trajectory since 1996 has been driven by knowledge, business integrity, humility, diverse people and robust global network.

“These past 25 years, knowledge has been the empowering tool for Sahara, business integrity our greatest asset, humility our utmost ethos, diverse people and network our greatest value,” he asserted while unveiling Sahara’s 25th anniversary logo and the Group’s plan for the future.

Shonubi said Sahara had since disrupted previously held notions that put looking to Africa for the implementation of global energy solutions beyond imagination. According to him, since its inception, Sahara has deployed “transformational energy initiatives” to become a conglomerate with a proud African heritage and vast operations in Africa, Asia, Europe and Middle East Asia.

“Today, the narrative is rapidly changing with Sahara at the vanguard of the transformational story from Africa to the world. Founded in 1996 with an initial focus on Oil trading, Sahara Group is widely regarded as a leading energy conglomerate renowned for championing capacity building and promoting the ‘best in Africa for Africa’ to the world narrative globally,” he affirmed.

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Shonubi said Sahara would increase its investment in technology, artificial intelligence, and human capital transformation as critical drivers of its next expansion phase, adding that innovation will define Sahara’s brand positioning and offering In the coming years.

“For us at Sahara, it has been 25 years of instituting a stamp of distinction. Like most start-ups, we were chasers then followers, and today are the dream actualized corporation. It is much more expensive and difficult to be a trailblazer, defying the impossible to emerge as an enterprise that creates value innovatively, responsibly, and sustainably. Still, at Sahara we are focused on remarkable growth and grateful for the opportunity to serve and bring energy to life across global markets.”

Sahara plans to mark its 25th anniversary with several events and activities all through 2021 with the theme, “Harnessing Safe energy today.” Emphasis will be on promoting the “capacity to do and achieve positive and sustainable transformation” in the energy sector.

An analysis of Sahara’s operational model shows that creating a sustainable economic, social, and governance impact has remained central to Sahara’s corporate strategy. The conglomerate has grown its operations to achieve annual revenues in excess of $10 billion, with over 4000 employees and operations in over 40 countries. “Sahara’s focus is on continuous improvement, operational efficiency, and sustainability. We plan to deploy best-in-class Terminal Automation System (TAS) for efficient terminal operations in the oil & gas sector, Plant Data Visualization System (PDVS) for enhanced remote monitoring of plant operations, Customer Energy Management (CEM), and GIS-based Network Monitoring System (GNMS) for customer-centric power distribution & data management services,” said Shonubi.

The Group considers the activities of the Sahara Foundation as one of its most cherished accomplishments. Following its initial partnership with the Carter Centre to eradicate guinea worm disease in Nigeria, Sahara Foundation has over the years, emerged as a global promoter of the Sustainable Development Goals (SDGs), with over 2,000,000 (two million) beneficiaries across its locations through interventions in Health, Education, Capacity Building, and lately, Extrapreneurship – a concept that promotes opportunities for social innovators and entrepreneurs.

In 2015, the UNDP (United Nations Development Programme), through the Sustainable Development Goals Fund (SDG-F) established the Private Sector Advisory Group (PSAG) as a pivotal platform for business leaders opportunity to contribute to extraordinary social impact and cultivate partnerships of tremendous transformative capacity. From an initial list of 100 shortlisted global multinational companies, the United Nations SDG-F selected 13 companies and inaugurated them in Madrid. Within the African continent, Sahara Group was one of the only two companies that made the final selection.

In line with its commitment to supporting growing global demand for safe and clean energy and the shift towards a lower carbon footprint, Sahara and the UNDP in 2019 entered into a partnership to promote access to clean and affordable energy in Africa, with a target of providing access to clean and affordable energy to over 650 million people in Sub-Saharan Africa.

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“Sahara Group remains passionate about green energy and environmental conservation. Our Green Life project, aimed at driving energy and ecological conservation initiatives across our business operations and partnerships, saw the Group pioneer the commencement of an electronic billing system (e-billing) at Ikeja Electric Plc, the Group’s power distribution arm to promote environmental conservation in the energy sector,” Shonubi said.

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To reinforce its commitment to clean energy initiatives, Sahara Group also initiated the use of electric buggies and bicycles at its Egbin Power, Africa’s largest privately-owned Power Plant, with plans to replicate same at other operational facilities across the Group.

Shonubi said Sahara’s zero-waste approach to promoting operational efficiency and commitment to the fight against the COVID-19 pandemic has seen Egbin Power Plc invest in an oxygen bottling facility on the plant to harness the oxygen generated as a by-product of the plant cooling mechanism. Egbin Power supplies oxygen, a key ingredient in the fight for life in the ICU, freely to medical facilities in Lagos State and the FCT, Abuja Nigeria, through Fortitude Children’s home, the largest orphanage in Nigeria.

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Sahara’s Covid-19 interventions also include donation of personal protective equipment (PPE), driving Covid-19 awareness and education in sub-Saharan Africa through educational literature in indigenous languages across various countries and leading the delivery of the 300-bed Thisday Dome Isolation and Treatment Centre and donation of medical equipment, including fully equipped world-class Intensive Care Units, to the centre and other medical facilities across Nigeria.

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Corporate Press Releases

Meristem presents Outlook for 2021 titled ‘Bracing for a different future’

Meristem for the past 16 years has been consistent in value creation and innovation within the capital market space.

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Meristem Securities Limited, a leading capital market conglomerate has recently launched its economic outlook report for the year 2021. The outlook report titled ‘Bracing for a Different Future’ highlighted in depth a wide range of issues relevant to an evolving future. With a global economy that has been scarred by the impact of the COVID-19 pandemic, the domestic economy was not left out, as the Nigeria economy slipped back into a recession, amplifying the structural weakness of the domestic economy in the form of weakening exchange rates, rising inflation, among others.

In Meristem’s H2:2020 Outlook: “Unmasking Value in a Scourge”, Meristem had warned that the threat of a second wave of new infections was very much a possibility. As a result, the recovery of economic activities would remain fragile until a vaccine is developed. Hence, much would depend on strict compliance with social distancing and healthcare measures as economies gradually re-opened. The Deputy Managing Director of Meristem, Sulaiman Adedokun, stated that while the rising number of daily infections pose a threat to economic activities, we expect a rebound of the domestic economy”.

Launching the outlook “Bracing the future” during a webinar attended by institutional investors, corporate clients, retail investors amongst other industry professionals, Sulaiman also commented on the equities market highlighting that “The equities market recovered from deep selloffs to finish as the best performing equities market last year, citing unattractive yields in the fixed income market, excess liquidity and a resilient corporate performance in the middle of a pandemic as major factors which drove the market.” “We expect these factors to persist thereby sustaining the positive momentum of the market through the better part of the year; in the first half of the year, we expect the financial market to be dominated by attractive dividend yields and the low yield in the fixed income market,” Sulaiman added.

The face of work has changed and many corporate organizations and their employees are rapidly adopting cutting-edge technology to meet the future of work in a COVID-19 era. While fielding questions from journalists about how the organization has deployed its business continuity plan, Sulaiman expressed that “The pandemic has influenced changes amongst people globally and we have enabled this change in our organization by utilizing the power of technology, we have also adopted a work from home culture that enables team collaboration through technology, we intend to maintain this even beyond the pandemic.”

Meristem offers a wide a range of services that cater to all classes of investors regardless of the stage in their financial journey, services like stockbroking, wealth management and financial advisory help clients to access various opportunities within the capital market. Via Meritrade, an online stockbroking platform, investors can trade stocks from anywhere around the world as well as better manage their shares and enjoy access to the most exclusive market research.

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Meristem for the past 16 years has been consistent in value creation and innovation within the capital market space. In 2018, the Nigerian Stock Exchange awarded Meristem as the Best Digital Broker of the Year. In the same year, Meristem also became the first Nigerian asset management firm to attain compliance with the Global Investment Performance Standards (GIPS) by the CFA Institute. Still, in 2018, Meristem received two nominations from Business Day, for the best Money market Fund and Equity Fund.

The firm has remained a leading player in Nigeria’s competitive investment market with a solid reputation as a highly professional and client-centric firm, helping to take their clients farther.

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