- Capacity Utilisation to Grow by 4% in 2017 — MAN
Capacity utilisation in the manufacturing sector is expected to grow by four percent from the 44.8 percent witnessed in the first half of last year, the Manufacturers Association of Nigeria, MAN, has said.
Disclosing this in an interview in Lagos, Director in charge of Economics and Statistics Department of MAN, Mr. Ambrose Oruche, said they were still computing figures for the second half of last year and will be ready by next month.
Oruche explained that with the budget presented by the federal government and the economic outlook in the country presently, the capacity utilisation is expected to improve.
Outlook of the economy
According to him, “Looking at the budget for the year and the outlook of the economy, we are expecting capacity utilisation to go up to 48/49 percent, all things being equal.
“Last year we just had the first half report, we are about to conclude second half because second half just finished in December. We just started the survey for second half. The first half capacity utilisation is about 44.8%.”
He also commended government decision to place a ban of some imported items which he said would have positive effect on the manufacturing sector if properly implemented.
“The manufacturing sector has the capacity to meet the demand as a result of the policy. When we operate below 45-44 per cent capacity it means that there is 56-55 per cent capacity that is lying idle. All that is needed is to deploy the idle capacity then do expansion to increase the capacity. So the capacity is there but issue is Nigerians patronising made in Nigeria products.
“If the restriction is properly implemented, definitely it is bound to have a positive effect on companies operating within that sector.”
He, however, expressed worry about the ability of government agencies to effectively enforce the import restriction policy which he noted will make none-sense of the intention of the policy.
“Another major thing about import restriction is the effectiveness of the implementation because when you restrict some products and you get to the super-market and you find them there, it shows that actually it is not working.
“The authorities in charge, the Customs and all the other relevant agencies must be on their feet and make sure that the policy works because if the policy does not work it will still not have effect.
Standard Bank Appoints Sanni Chief Executive for Africa
The Standard Bank Group, Africa’s largest bank by assets has appointed Yinka Sanni as its new Chief Executive for Africa Regions and a member of the Group Leadership Council.
Sanni, the group’s Regional Chief Executive for West Africa, takes over from Sola David-Borha, who is retiring after 31 years of service to the banking group.
This was disclosed in a statement.
Sanni holds a B. Agric. (Hons) degree in Agricultural Economics from the University of Nigeria and an MBA from Obafemi Awolowo University. He attended the Advanced Management Programme at Harvard Business School in 2009, and the Global CEO Programme at the Wharton School in 2017. He has over 30 years of experience in the financial sector across wholesale, retail and asset management, and joined Standard Bank Group’s Nigerian subsidiary, Stanbic IBTC Bank Plc, in December 1990.
In a note to employees, Standard Bank Group CEO, Sim Tshabalala, congratulated Sanni on his appointment and thanked David-Borha for her extraordinary contributions to the group.
“Sola was appointed as the Chief Executive of Africa Regions in January 2017 and is one of the group’s most deeply expert and experienced bankers,” Tshabalala said.
“Under her leadership, the Africa Regions portfolio has grown remarkably in capacity, market share and contribution to the group’s headline earnings.”
David-Borha has been a passionate advocate of culture change and executive leadership development, having sponsored the ‘Last Mile’ programme, which has resulted in the successful promotion of talented people into both Regional Chief Executive and Country Chief Executive positions, including the appointment of two female Chief Executives in the Africa Regions business.
“It has been a great honour and privilege to serve and contribute to the growth of the Standard Bank Group,” David-Borha said.
“I am delighted to be handing over to Yinka Sanni, an exceptional, authentic and experienced leader who will take the baton forward in driving Africa’s growth.”
David-Borha will remain with the group until the end of June to ensure a successful leadership transition and handover process. Sanni’s appointment is effective from today, 15 April.
Experts to Provide Insights on Tech & Digital Transformation at MSME Dialogue 3.0
The third edition of MSME Dialogue will take place on Saturday, April 24, 2021 at 10am (WAT). Experts at the virtual event will provide insights while discussing the theme: Powering MSMEs with Technology and Digital Transformation.
The event, which is organized by MSME Africa, is expected to have owners and managers of Micro, Small and Medium Enterprises, Entrepreneurs and Business owners from different sector in attendance.
MSME Dialogue which holds every quarter, seeks to address, burning and relevant issues about entrepreneurship and running a small business as well as proffering solutions to those issues.
The event aims to provide the right knowledge and know-how for MSMEs, Entrepreneurs, and Startups to enable them to grow and thrive and features subject matter experts, seasoned entrepreneurs, professionals, and players within the MSME Ecosystem.
The speakers expected at the event are: Akeem Lawal, Divisional CEO, Interswitch Group, Rex Mafiana: CEO, FPG Technologies, Fatma Nasujo, Global Head of Operational Excellence at Sokowatch, Kenya, David Lanre Messan, CEO, FirstFounders, Bisoye Coker, CEO/Co-founder, Kiakia FX. The session will be moderated by Solape Akinpelu: CEO/Founder, HerVest.
According to the convener of the event who is also the founder of MSME Africa, Seye Olurotimi “Every business owner who is serious with their business would agree with me that technology and digital transformation are important factors for business growth and success. We all can’t all run or won Tech startups but we can always drive our businesses and operations with Technology and Digital Tools”
“Tech-driven Businesses are making waves and turning in almost unbelievable results against all odds. Businesses who have embraced technology, automation and digital transformation are enjoying unquantifiable advantages. It is because of this that I am calling on business owners and managers to join us at the 3rd Edition of MSME Dialogue, on Saturday April 24, 2021 at 10am ( WAT), as we bring in experts to provide insights on this theme” Olurotimi added.
MSME Africa is a multi-faceted resource platform for Micro, Small, and Medium Enterprises (MSME) in Africa providing capacity development, news, opportunities, business articles and other resources for MSMEs, entrepreneurs, and startups.
Olurotimi said the platform was poised to build the biggest network and community of MSMEs in Africa in the nearest future.
Ericsson Launches Automation Hub in Nigeria
Ericsson announces plans to create an Automation Hub in Nigeria to support operators for improved consumer experience.
Ericsson Automation Hub is an open innovation platform, inspired by lean startup methodology in which the Ericsson team works in close dialog with customers, users and partners to showcase and reach the high potential that network automation allows in configuration, provisioning, assurance and orchestration of network services.
This will enable service providers to gain the ability in their environments to govern, manage and orchestrate hybrid networks holistically and in real time and as a result, offer an enhanced consumer experience.
Fields to be covered include but not limited to 5G and Internet of Things (IoT) use cases, Network Slicing and Orchestration, Hologram Calls, Complex Standalone, Business Support System (BSS) and Operations Support System (OSS), Cloud and Core product cases, Automated Acceptance Tests demonstration and enhancements as well as complex charging scenarios for 5G and 4G networks.
Lucky La Riccia, Vice President and Head of Digital Services at Ericsson Middle East and Africa at Ericsson says: “As Industry 4.0 accelerates in Africa, automation in operations is proven to boost customer experiences. Ericsson continues to support the telecom industry players in setting #AfricaInMotion, and with the Ericsson Automation Hub in Nigeria, we will focus on driving business outcomes for our partners in Africa as they aim to leverage digital transformation to turn complexities into opportunities while offering a greater experience and value to consumers.”
Finance3 weeks ago
List of Microfinance Banks’ USSD Codes In Nigeria
Government4 weeks ago
US Intelligence Says ISIS and Al-Qaeda Are Planning to Attack Southern Nigeria
Banking Sector4 weeks ago
GTBank Records N201.4 Billion Profit After Tax in 2020
Government4 weeks ago
Out-Of-School Children in Nigeria Hits 10M – Nwajiuba
Education2 weeks ago
COVID-19: 2021 WASSCE May Not Hold in May/June – WAEC
Telecommunications3 weeks ago
Nokia, Safaricom Partner to Launch East Africa’s First Commercial 5G Services in Kenya
Brands2 weeks ago
LG To Close Mobile Phone Business Worldwide
Technology2 weeks ago
FG Extends NIN-SIM Linkage by Four Weeks