Being a powerful woman has always meant creating your own narrative and being able to make decisions independently while breaking from the traditional status quo set up for women.
In almost every measure of success in today’s world, we see the odds disproportionately stacked against women but every year, we see more women rising up to take challenging leadership roles across every major sector in the world.
Women like Dr. Ngozi Okonjo-Iweala are rising and are opening more possibilities for more women to rise too.
Ngozi Okonjo Iweala, a Nigerian-American economist and International Expert has challenged and inspired women, especially in African countries, by becoming the first woman and first African to win the Director-General post of the 164-member World Trade Organisation (WTO).
Nkiru Olumide a Nigerian female enthusiast has outlined five lessons every working girl should learn from NOI, as the former Finance Minister is fondly called.
The first being how she helped her country Nigeria to come out of the $30 billion dollars of external debt from the Paris Club in 2005 as a Finance Minister. Which she termed accomplishments by impact. As such every working girl should strive to create an impact in whatever role they find themselves in.
She advised that people should stop thinking that politics is a dirty game. Young girls shouldn’t give up on their dreams on the grounds that they know nobody or they can’t penetrate the system. She noted that Ngozi Iweala engaged and lobbied at the highest level and as a result, many presidents backed her up publicly. She instructed young ladies to always try and wherever they find difficulties, they should get others to help them.
Olumide brought to attention how Dr.Ngozi Iweala used the power of the media to attain her goal. She was able to communicate her message to various people who not only heard her voice but also supported her and her beliefs. And when the race was tough, she kept her hope alive and continued with her life. So, every working girl should emulate her style.
Dr. Okonjo-Iweala believed in herself by declaring to the whole world that she was the right person for the job. And despite other competing resume, she stood out with her faith and confidence. Thus, every lady working on something or aiming at anything should always believe in herself. Nkiru noted that NOI declared herself just like any man would. A self-declared “doer”.
When women are given more opportunity to participate in building the economy, it gives rise to benefits and results that extend beyond the women’s community to impact societies and nations as a whole.
In past years, women were particularly concentrated in the more invisible activities and job roles but with the increase in the rise of more women taking up challenging roles in the workforce, the status quo has changed. And women like Dr. Ngozi Iweala have overtime become world changers and role models for growing and aspiring working girls.
FG moves to appoint fund manager for $37 billion infrastructure company
The FG has arranged to engage an asset manager for its newly set up Infrastructure Company of Nigeria Ltd.
The Federal Government has concluded plans to engage an asset manager for its newly set up Infrastructure Company of Nigeria Ltd. (Infra-Co), to raise about N15 trillion ($36.7 billion) for projects and accelerate growth in Africa’s biggest economy.
This is coming barely 2 weeks after President Muhammadu Buhari approved the government’s N1 trillion initial seed capital for the Infrastructure company, which will be set up under a Public-Private Partnership.
According to a report from Bloomberg, a source who wants to remain anonymous said that the Central Bank of Nigeria (CBN) and its funding partners, Africa Finance Corporation (AFC) and state-owned Nigeria Sovereign Investment Authority, are seeking proposals from companies to independently manage the infrastructure company’s fund-raising plan.
The sought after fund manager will be responsible for coordinating the total equity capital and associated debt raise required by the company with the asset managers seeking the role expected to have been active in infrastructure financing.
The CBN Governor, Godwin Emefiele, had earlier said that the government needs to be innovative in its approach to developing infrastructure in the country and believes that InfraCorp will be a major game-changer in this regard.
Some firms such as PricewaterhouseCoopers, Boston Consulting Group, McKinsey and KPMG have expressed interest in getting the role of transaction advisers on the deal with Ukiri Lijadu and Co. and Kenna Partners appointed legal advisers.
This is as the report says that the firms were either not available to confirm the development or could not make any comment yet.
What you should know
- It can be recalled that President Muhammadu Buhari, had earlier approved the government’s seed capital of N1 trillion for InfraCo, an infrastructure company, which will be wholly focused on critical infrastructure investment in the country, under a Public-Private Partnership.
- The President had said that InfraCo will be raising funds from the CBN, Nigeria Sovereign Investment Authority, Pension funds, and local and foreign private sector development financiers.
- This will help boost infrastructure investments to stimulate economic growth after exiting its second recession in 4 years in the fourth quarter and bridge the infrastructural gap in the country, with Nigeria needing at least $3 trillion over 30 years to close its infrastructure deficit.
Afreximbank sets up a $500 million fund to support Africa’s creative industries
African Export-Import Bank has set up a $500 million fund to support Africa’s creative industries.
The African Export-Import Bank (Afrexim Bank) has set up a $500 million fund to support Africa’s creative industries as the continent faces a challenge to effectively monetize its creative output.
This disclosure was made by Afreximbank President, Benedict Oramah at a virtual “fireside chat” on Tuesday organized by the Africa Soft Power Project, entitled “The New Face of African Collaboration.”
According to Africa Investment Forum Senior Director, Chinelo Anohu,
“Digital platforms in Africa should scale up to take advantage of the continent’s surging demand for creative content, and the African Development Bank flagship entity is providing advisory services and investment support to creative players.
“The Africa Investment Forum was working to promote content deals as well as digital infrastructure projects to advance creative industries, including support to smaller players.
“At AIF 2019, we had a very interesting entrepreneur scheme which saw those that were not as big get the kind of funding they needed to get beyond getting a feasibility study done.
“Data is one of the African Development Bank’s strong points. They have a fantastic research division, and what we’re trying to do is mainstream that data culled from 55 countries and distill it in such a manner that the investors can easily access the information they need.
“Support for intellectual property rights and equipping investors with the data they need to tackle negative perceptions about investing in Africa are key priorities for Africa Investment Forum.
What you should know
- The event was held against the backdrop of the recent coming into force of the African Continental Free Trade Agreement (AfCFTA).
- Discussion at the event primarily focused on the role of infrastructure and connectivity in advancing Africa’s creative industries, including film, textiles and design.
- It is important to note that 2021 is also the African Union’s year of arts, culture and heritage.
- In January 2020, Afreximbank set up a $500 million fund to support Africa’s creative industries.
- It is strongly believed that AfCFTA would help address some of the key challenges to boosting Africa’s creative output.
- The Africa Investment Forum, championed by the African Development Bank and its founding and institutional partners, works to accelerate the closure of the continent’s investment gaps. The Forum currently has a growing portfolio of 118 deals valued at $114 billion.
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