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Buhari Assures Chinese Investors of Support

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  • Buhari Assures Chinese Investors of Support

President Muhammadu Buhari on Wednesday assured existing and prospective Chinese investors of high-level support for their investment plans in Nigeria.

He gave the assurance on the sidelines of the Forum on China and Africa Cooperation (FOCAC) in Beijing, China.

In separate meetings with prospective investors, President Buhari said Nigeria is endowed with abundant human and material resources and a young population that is very energetic and innovative and ready to work.

He encouraged Chinese companies and entrepreneurs to take advantage of the improved business environment in Nigeria to invest in key sectors of the economy.

Acknowledging the contributions of Chinese companies in Nigeria in developing the country’s infrastructure, the President noted that there was still more to do.

The Ruyi Group, a leading Chinese company, had met with the President with a plan to invest $200 million for an industrial park in Kano State, cotton farms in Funtua, Katsina State and textile and garment manufacturing establishments in Aba, Abia State and Lagos.

The proposed investment, according to a statement by the Senior Special Assistant on Media and publicity, Garba Shehu, will cover the entire cotton value chain, farming, ginning, spinning, weaving and power generation to support the processes.

Ruyi Group Chairman, Mr. Yafu Qui told President Buhari that they settled for Nigeria after one-and-a-half year search for an African hub because of the country’s population, abundant human and material resources and a ‘strong leadership’ that has diversification agenda for the country.

President Buhari also received Professor Justin Yify Lin of the Pekin University, a former World Bank Chief Economist, currently serving as a consultant to the Nigerian government on the setting up of Special Economic Zones.

In this follow-up meeting after the first in 2016, Professor Lin told the President that progress has been made with the identification of the cotton value chain as a pilot for the setting up of labour intensive industrial parks, noting that the idea of the Ruyi Group as an investor was partly coming from their studies.

At a separate meeting, the Senior Vice President of, telecom giants, Huawei, Yi Xiang announced that the company will provide 10,000 Nigerians talent training in ICT each year.

Huawei is executing the second phase of the National Information and Communications Technology Backbone Project (NICTIB II) $328 million project, which was signed between China and Nigeria earlier on Wednesday.

The telecom giant chief said of the 10,000 Nigerians, half of them will undergo intensive training on Huawei certification programme to empower them to work anywhere in the world.

Mr Yi also told President Buhari the company had trained 1,000 civil servants in Nigeria and will offer additional 1,000 training slots for training within and outside the government.

Responding, President Buhari expressed satisfaction on the development of the ICT infrastructure backbone in the country, noting that it was consistent with the administration’s determination to institute e-governance to help fight corruption by increasing transparency.

The President said that the project would promote better education in the rural areas and encouraged Nigerian youths to optimize the opportunities of the new infrastructure facilities.

He also played host to top executives of CITEC Group, who indicated interest on investing in real estate, finance, infrastructure, agriculture and telecommunications in Nigeria.

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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Union Bank Unveils Multi-Asset Trading Platform M36

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Union Bank Unveils Digital Investing Platform, M36

A new digital platform designed to deliver a wide range of investment products directly to individuals and other investors, M36, has launched in Nigeria.

Through an innovative, user-friendly app, M36 offers investment options not typically available on self-service digital platforms including foreign currency transactions, commercial papers, local and foreign-denominated bonds, treasury bills and other fixed-income products.

M36 also offers bespoke solutions for both new and experienced investors as well as a 24-hour lifestyle concierge service to meet the needs of discerning customers.

In a rapidly evolving environment with changing consumer behaviour fueled by technology and growing access to information, M36 is looking to expand opportunities for investors at all levels, while also simplifying the process of investing.

M36 was developed by Union Bank as part of its strategic focus on delivering superior customer solutions leveraging technology and innovation. The bank partnered with several asset management companies to deliver a broad range of investment products on the M36 platform.

Speaking about this, Mr. Chuka Emerole, Head, Treasury at Union Bank said, “M36 eliminates the traditional barriers to investing and offers investors direct access to financial instruments that would usually require the service of an investment or relationship manager.

“We’ve designed M36 to ensure simplicity in the onboarding and investing process while also empowering the customer to make sound investment choices based on their financial objectives.

“We worked with key partners to deliver both the experience and products on M36 and are confident that we have launched a superior product in today’s marketplace”.

With the 24-hour concierge service, M36 users can access round-the-clock support from investment advisors as they actively manage their portfolios.

The bank said the M36 was a timely financial product meant to keep abreast with the rapidly evolving environment and changing consumer behavior that is fueled by technology and growing access to information.

The M36 is also part of the UBN’s strategic focus on delivering superior customer solutions by leveraging technology and innovation. The bank partnered with several asset management companies to deliver a broad range of investment products on the M36 platform.

M36 also offers loans, personal travel allowance, will and trust services and many more essential products under its Life Essentials menu.

 

M36 is available for download on the App Store and the Google Play Store.

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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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