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Bill Gates Donates $1m for Food, Farming Aids to Borno

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Bill Gates

Borno State Governor, Kashim Shettima on Sunday inaugurated the distribution of food items and farm outreach committee targeting 40,000 victims of the Boko Haram insurgency through the support of the Bill and Melinda Gates Foundation which donated one million dollars to the Borno State Government as a post conflict intervention meant to support victims who are returning to their communities.

Shettima inaugurated the support commitee to begin with the distribution of 25 kilogram bag of rice and 10 kilogram bag of beans to each of 1,100 households at Mainok village in Kaga local government area, 45 kilometres away from Maiduguri.

The governor said officials of the state government working with the Gates Foundation used the $1m to procure the food items and commenced funding of 100 hectares of farm where beans is being cultivated.

He explained that 200 farm-families would be allocated tilled and fertile land measuring half hectare each along with improved seeds, fertilizer, chemicals and technical supervision so that they can start growing food crops. The Governor also announced the release of two trucks of maize grid to add to the food procured with the Gates’ donation.

“We are grateful to God for creating people like Mr Bill Gates and his dear wife, Melinda. These leading lights of philanthropy across the world have shown love to the good people of Borno State at a time we are on the ground and looking for any hand to hold in trying to lift ourselves up.

“Now, with the emerging peace in Borno State, it is only necessary that as Post Insurgency response, focus should be combined in supporting all categories of the victims from those at Internally Displaced Persons, those in communities within Maiduguri, those in our satellite camps outside Maiduguri, those in communities across different local government areas who are returning to their homes and those being resettled.

“It is in this regard, that we are gathered today to Flag off the distribution of a key intervention of one million dollars food and farming aide donated by the Bill and Melinda Gates Foundation. Let me say it for the record, that unlike majority of interventions which happily came to us in kind, the Bill and Melinda Gates Foundation donated cash of one million dollars to the Borno State Government. “It is the State Government that is carrying out procurement in the implementation of this particular intervention. The intervention is targeting returning and re-settling communities by giving them food aid and also helping them to return to their familiar ways of producing food for themselves and for commercial purposes.

“The intervention from the Bill and Melinda Gates Foundation is being used for food supplies and to fund farming activities for households. As a preliminary stage, beans is being cultivated in one hundred hectares of land. Half hectare is being allocated to a farm-family with a target of reaching 200 households. Each household may have from 2 to 10 family members.

“Already, farms have been established in Konduga and Damboa. Each household is to be allocated not only tilled and fertile land but also improved variety of seeds, fertilizer, chemicals and most importantly, technical field supervision by extension workers.

“On the food aspect, one thousand, one hundred households, not individuals, will be given a 25 kilogram bag of rice and a 10-kilogram bag for each household here in Mainok, Kaga local government area. The intervention aims at reaching 40,000 victims of the insurgency through households on both food aid and farming activity.

“We are particularly interested in ensuring that citizens begin to produce food crops in safe locations because direct food aid in post conflict situations is never sustainable over a long period of time” Shettima said.

Officials of the United Nations High Commission for Refugees (UNHCR) and United Nations Office for the Coordination of Humanitarian Affairs ‎(UNOCHA) witnessed the distribution with goodwill presented by them.

The Commissioner for Reconstruction, Rehabilitation and Resettlement in Borno State, Dr Babagana Umara Zulum explained that two trucks of food items as well as two farms in Damboa and Konduga funded through the Gates donation were ‎ready for immediate access on Sunday while more communities were to benefit in a continuous exercise.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Finance

Global Deal Activity Down by 4.5% in October 2020

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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%.”

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Investment

Japaul to Invest in Chinese Firm H&H to Deepen Mining and Exploration Business

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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.

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Africa Investment Forum (AIF) Rescheduled to Hold in 2021 – AfDB

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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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