Nigeria is leading in a new trade and commerce cooperation between African countries and Israel, which will see small and medium scale enterprises (SMEs) based in Africa benefit from the economic competencies of Israel.
According to the facilitators of the partnership, the Africa Leadership Summit (ALS), a new platform, the Africa-Israel Chamber of Commerce (AICC) was inaugurated recently in Abuja to oversee the planned economic relationship between the continent and Israel.
The Convener of ALS, Mr. Olusegun Olanipekun told journalists at a leadership conference where AICC was formally unveiled that AICC would concentrate its efforts
and resources on tapping from Israel key and tested start-up knowledge with which SMEs in Nigeria and other African countries can use to re-invent themselves and grow their profitabilities.
Olanipekun equally noted that other than helping SMEs grow their economic values, the AICC will impact in owners of such ventures, quality and time-tested ethical values which they can apply in relating with and adding values to their business environments.
He explained that platform would not immediately be seeking for big multinationals to come on board, adding that its priorities will be on SMEs which have the capacity to immediately impact on the lives of local citizens.
“The African Leadership Summit (ALS) is about raising the standard of leadership on the continent of Africa and benchmarking ourselves with the best in the world, particularly Israel.
“You know that Israel is the number one start-up nation in the world, it is not only Nigeria or Africa that is learning from them, the whole world is learning from them.
“Israel supplies the highest percentage of patents to the world. Europe buys patents from Israel, America does and we are saying, why do we always buy from America and Europe when we can go directly to the source – Israel,” said Olanipekun.
He further stated: “Israel also imports from other parts of the world but not from Africa because the systems are not in place for that. The ALS is developing application tools like the Africa-Israel Chamber of Commerce (AICC) where people of like mind can meet and connect and a highway of business can be built between the various cities of Africa and Israel.”
He said on the decision to concentrate on SMEs: “Africans have had to wait for investors to come and invest and we observe that the result of that is that profits are repatriated maximally and communities are not developed. But if we partner with a nation like Israel where in 60 years, they have developed their economy and made the desert to blossom like a rose, and developed their communities through their businesses, then we can also learn that it is not enough to have big businesses with big financials but their communities of operation is not developed.”
Olanipekun’s partner, Dr. Ike Neliaku also explained that the AICC will be driven by Nigeria which he said has the capacity to take Africa along the path holistic prosperity if she gets it right.
Neliaku noted that modalities on how the AICC will operate from Nigeria have been designed, with relevant stakeholders already hooked to the platform for prompt delivery of set goal.
Global Deal Activity Down by 4.5% in October 2020
A total of 6,304 deals were announced globally during October 2020, which is a decrease of 4.5% over the 6,598 deals announced during September, according to GlobalData, a leading data, and analytics company. An analysis of GlobalData’s Financial Deals Database revealed that the deal volume during October remained below the monthly average of Q3 2020.
Aurojyoti Bose, the Lead Analyst at GlobalData, comments: “After demonstrating growth for four consecutive months, the deal volume shrank in October. The decline in deal activity could be attributed to inconsistencies across different regions. The APAC region remained a weak spot, while deal activity remained mostly flat in North America, and the Middle East and Africa (MEA) region witnessed growth in deal activity.”
North America attracted the highest number of investments, followed by APAC, Europe, the MEA, and South, and Central America.
The uncertain global economic landscape lowered the deal volume in October for major markets such as the US, Germany, Australia, France, India, and China compared to the previous month. On the contrary, the UK, Japan, South Korea, and Canada saw growth of 15.6%,14.9%, 3.8%, and 2.2%, respectively, in October as compared to September’s deal volume.
Bose continued: “Most of the deal types witnessed a decline in volume during October compared to the previous month. Private equity, equity offerings, venture financing, debt offerings, and partnership deals volume decreased by a respective 2.4%, 9.1%, 9.8%, 14.6%, and 24.6% – while the deal volume for mergers and acquisitions (M&A) increased by 7.2%.”
Japaul to Invest in Chinese Firm H&H to Deepen Mining and Exploration Business
Japaul Gold & Ventures Plc (Japaul), formerly known as Japaul Oil and Maritime Services Plc, announced it has gotten approval in principle from H&H Mines Limited to invest in or acquire shares in the company once it concluded its fundraising exercise.
According to a statement released through the Nigerian Stock Exchange (NSE), H&H Mines Limited has several licenses, which include two major Mining Leases for 25 years renewable.
The statement noted that extensive exploration has been done on the Mining properties and the last lap of the exploration works is core drilling. This, it said will allow Japaul knows the measured Minerals Reserve contained in the Mine, which it claimed contain Gold, Silver, Lead, Zinc, etc.
Japaul further explained that the need to get the drilling done was what led H&H Mining to engage the services of Xiang Hui International Mining Company Nigeria.
“Since Japaul will eventually be part of H&H Mines Limited, it was necessary that Japaul is carried along on the kind of Contract of Drilling to be entered into, and that was why the signing of the Drilling Contract between the Chinese Company and H&H Mines Limited was concluded at Japaul’s Head Office,” the company stated.
The drilling is expected to be concluded in the next 12 months and within this time, Japaul is expected to have concluded the Fund Raising and formalise her involvement in the Mining.
The company added that Canadian reports revealed that there are huge gold, silver, lead, etc deposits, but it is drilling that will show the actual reserve.
Africa Investment Forum (AIF) Rescheduled to Hold in 2021 – AfDB
Investment Forum to Now Hold in 2021 in a Bid to Curb Possible Second Wave of COVID-19
The Africa Investment Forum scheduled to hold in November 2020 in Johannesburg, South Africa has been rescheduled to hold in2021 as a result of the ongoing global health pandemic.
This announcement was made in a statement by AfDB on Wednesday. The African Development Bank (AfDB) and the Africa Investment Forum founding partners agreed to the postponement of the annual three-day investment market place.
Considering the negative effect of Covid-19 on the global economy, agreement by the two bodies was made after a careful assessment of the impact of COVID-19 on global travels, investments, observing the social distancing rules and curbing the likely possible risk of a second wave.
In the statement, the bank stated that through the forum innovative digital platforms, it would track investments, source for new deals, progress on financial closure of transactions and other existing deals.
“At the 2019 Africa Investment Forum, 57 deals valued at $67.7bn were tabled for discussions. Fifty-two deals worth $40.1bn secured investment interest.
“In July this year, the AIF Founding partners pledged to strengthen strategic partnership engagement and commitments for Africa Investment Forum Market Days 2021, to help ‘reboot investments in Africa.’ They underscored the need to boost local manufacturing while leveraging the continent’s vast resources to unlock investment.”
In the statement, Africa Investment Forum objectives are achieved through the forum’s four pillars; Closing, Connecting, Engaging and Investment Tracking.
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