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African SMEs May Export Duty Free to US

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  • African SMEs May Export Duty Free to US

African businesses will get a chance to showcase the continent and improve economic relations between the United States and the regions.

This will be done with the possibility of exporting qualifying products into the USA duty free at the first ever Trade Expo Africa (TEXA).

The Cable quoted a statement by the organisers to have explained that TEXA aims to boost export opportunities in Africa by leveraging on the African Growth and Opportunity Act (AGOA), which is a United States Trade Act, enacted on 18 May 2000 as Public Law 106 of the 200th Congress.

“Forums such as this enable us to consolidate efforts to contribute to the growth and development of Africa’s economy by increasing trade relations among African countries and the USA,” TEXA founder, Yinka Thomas-Ogboja, said while speaking of the expo scheduled to hold in Houston, Texas, in October.

“We are proud of who we are as Africans, where we are and more importantly, where we are headed. In April 2015, the IMF’s Regional Economic Outlook for Sub-Saharan Africa predicted that over the next 20 years, sub-Saharan Africa will become the main source of new entrants in to the global labour force.”

Thomas-Ogboja said she hopes other African countries will reduce heavy reliance on importation and take advantage of the endless possibilities the trade expo offers as Botswana and South Africa are the biggest exporting countries in Africa.

“We are excited about the opportunities inherent as participating SMEs with export oriented products and services will find this expo rewarding. We are our greatest asset and together we can make a difference. Let us stay focused and positive as we shape and reshape the future of AFRICA.

“Project Prime International (PPI) is pleased to host this event, which is designed to showcase and promote Africa’s small medium enterprises (SMEs) seeking market penetration into the United States of America and other African countries.

“African governments need to integrate entrepreneurship more fully into their industrialisation strategies (African Development Bank, 2017). Foreign direct investment, attracted by the continent’s emerging markets and fast urbanization, stood at $56.5 billion in 2016 and is projected to reach $57 billion in 2017.

“Africa is the world’s second largest and second most populous continent, with the youngest population compared to other continents. The key to successful development in Africa is to nurture the emerging culture of entrepreneurship and the continuous empowerment of regional SMEs. Roughly 31% of U.S. exports to Sub-Saharan Africa went to South Africa in 2015, and 19% to Nigeria.

“The top U.S. export markets in Sub-Saharan Africa for 2015 are: South Africa ($5.5 billion), Nigeria ($3.4 billion), Ethiopia ($1.6 billion), Angola ($1.2 billion), and Kenya ($937 million). While this impacts the U.S. economy significantly, it is imperative to create platforms that in return will boost African economies, promote bilateral trade with the U.S., and increase trade relations amongst African countries.”

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.

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Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others

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Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.

 

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Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director

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Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

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FG Reopens Osubi Airport Warri for Daylight Operations

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FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

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