Connect with us

News

Japan Sets Sights on Africa As a Top Investment Destination

Published

on

  • Japan Sets Sights on Africa As a Top Investment Destination

Focus for the longest time has been on China’s domination when it comes to investments in Africa. While true that China leads the pack when it comes to investments, Japanese investments are becoming increasingly popular as the island nation looks to explore the continent’s untapped resources.

While Japanese African relations trace back to the 1960’s, it is only now that the economic powerhouse appears to have started taking a keen interest on what the continent has to offer when it comes to investment opportunities.

Japanese investors are increasingly showing great interest in setting up companies and financing other businesses around the continent. The result has been win-win situations for both.

Japan’s investments are becoming increasingly popular in part because of the country’s balanced trade across the continent. In 2017 the country exported $7.5 billion worth of goods to Africa and imported $8.3 billion.

South Africa Top Destination for Japanese Investors

While China has sought to spread its investments around the continent, Japanese investors appear to be maintaining a keen interest in some markets, more than others. According to data compiled by Asoko Insight the Japanese Ministry of Foreign Affairs and the Japan External Trade Organization, South Africa remains a top investment destination for Japanese investors.

According to data compiled by JETRO and analysed by Asoko Insight, there were about 738 Japanese companies registered in the Content as of the end of last year. Almost half of the companies, at 354, had their investments distributed across South Africa.

Most of the Japanese companies in Africa operate either as wholly owned subsidiaries or in partnership with local companies. Some of the companies are also believed to have formed alliances with foreign firms particularly from Asia and Europe.

Away from South Africa, Japanese company’s presence is also being felt in North Africa which happens to be the next top investment destination. In North Africa, there were about 138 Japanese companies representing 7.3%. East Africa comes third with about 120 Japanese companies followed by West Africa with 114 companies.

Areas of Investments

When it comes to investment areas, Manufacturing remains a top investment area with the JETRO Survey indicating about 315 companies involved in such operations. A quarter of the companies employ more than 51 staff with the others employing 50 or less.

Energy and mining are the two most popular investment areas for Japanese companies in the continent. The companies are in pursuit of fresh raw materials in the form of mineral resources that would keep their country’s industries up and running.

Why Africa?

Increased investments in Africa are part of a bigger plan of gaining access to markets for finished products back at home. The island nation plays host to some of the biggest companies in the world.

Faced with competition in developed markets, Japanese’s companies have had to look for new markers elsewhere, with Africa emerging as an exciting prospect in this case.

The continents market size is another attribute that appears to be fuelling investments according to JETRO Survey. Other factors include the vast continent portfolio of untapped natural resources. Pursuit of natural resources in Africa does not come as a surprise given that the country is not the most endowed on this front.

Asoko Insight is a data and information services company operating across Africa. Asoko is bridging the information and data gap across the continent, focussing on delivering the best corporate data and analytics platform of African private companies for market mapping, due diligence and investment needs.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Continue Reading
Comments

News

How to Modify NIN Data: Date of Birth, Name, and More

Published

on

In Nigeria, the National Identification Number (NIN) is a crucial identification tool used for various official purposes.

However, errors or changes in personal information may occur over time, necessitating modifications to the NIN data.

Fortunately, the National Identity Management Commission (NIMC) has introduced a convenient solution – a mobile application that allows individuals to modify their NIN data from the comfort of their homes.

Why Modify NIN Data?

Errors in personal information on your NIN can lead to complications in official transactions, including banking, telecommunications, and government services. It’s essential to ensure that your NIN reflects accurate and up-to-date details to avoid any inconvenience.

Steps to Modify NIN Data

  1. Download the NIMC Mobile App: Start by downloading the NIMC mobile application from the designated app store on your smartphone.
  2. Registration/Login: If you are a new user, register on the app by providing the required information. For existing users, log in using your credentials.
  3. Enter NIN and Details: Once logged in, enter your NIN, last name, and email address to access the data modification channel.
  4. Select Modification Options: The app allows you to modify various details, including your name, date of birth, mobile number, house address, and email address. Choose the information you wish to update.
  5. Submit Changes: After making the necessary modifications, review the changes and ensure accuracy. Then, submit the updated information through the app.
  6. Confirmation: Upon successful submission, you will receive a confirmation message acknowledging the changes made to your NIN data.

Benefits of the NIMC Mobile App

  • Convenience: With the mobile app, you can modify your NIN data anytime, anywhere, without visiting NIMC offices.
  • Accuracy: Ensure that your NIN reflects accurate information, minimizing discrepancies in official transactions.
  • Time-Saving: Avoid long queues and bureaucratic processes by using the app for quick data modifications.

Conclusion

The NIMC mobile app offers a hassle-free solution for individuals seeking to modify their NIN data. By following these simple steps, you can ensure that your NIN reflects correct and updated information, facilitating smoother interactions in various sectors.

Embrace the convenience of digital innovation and make necessary modifications to your NIN data with ease.

Continue Reading

News

Aliko Dangote Foundation Launches N15bn Food Intervention Programme

Published

on

Aliko Dangote - Investors King

In a bid to alleviate hunger and address the economic challenges facing Nigeria, the Aliko Dangote Foundation has announced the launch of a N15 billion food intervention programme.

The initiative spearheaded by the President of the Dangote Group, Aliko Dangote, aims to provide essential food items to vulnerable communities across the country.

The food intervention programme was officially unveiled during a ceremony in Kano on Saturday, where Mr. Dangote emphasized the importance of compassion and solidarity, particularly during the holy month of Ramadan.

He highlighted the significance of all stakeholders, including individuals and institutions, in supporting the government’s efforts to tackle hunger and promote social justice.

This intervention, estimated to benefit over one million people, will see the distribution of 10kg bags of rice across all 774 local government areas in Nigeria.

Mr. Dangote emphasized that the programme’s modalities involve collaboration with state and local governments, as well as community partners, to ensure effective delivery of the food items to the most vulnerable individuals, irrespective of their background.

Also, the Aliko Dangote Foundation will distribute 10,000 iftar meals during Ramadan in Kano municipality, further extending its support to those in need during this auspicious month.

The foundation’s commitment to humanitarian efforts extends beyond food relief, as it has been providing daily bread relief programmes since 2020, producing and distributing over 32,000 family-size loaves of bread across Kano and Lagos states.

The launch ceremony was attended by Kano State Governor, Abba Kabir Yusuf, who commended Mr. Dangote’s philanthropic gesture and urged other wealthy individuals and businesses to emulate the Dangote Group’s example in supporting the government’s efforts to alleviate economic hardship in Nigeria.

Continue Reading

Education

International Students in Germany Get Pre-Study Work Rights Under New Law

Published

on

University - Investors King

Germany has implemented a new segment of its revamped skilled worker law, granting international students significant pre-study work rights.

This move aims to attract skilled workers from various sectors while fostering integration and easing financial burdens for students.

Under these fresh regulations, non-EU citizens applying for study visas can now arrive in Germany up to nine months before their studies commence.

During this period, which was previously not permitted for work, students are allowed to work part-time for up to 20 hours per week.

This change particularly benefits prospective students from developing countries, offering them the opportunity to support themselves financially while preparing for their academic pursuits.

The revised skilled worker law also extends its support to individuals interested in apprenticeships in Germany.

Third-country nationals seeking apprenticeships can now reside in the country for nine months, provided they demonstrate a B1-level proficiency in German and are below the age of 35.

During this preparatory period, they are permitted to engage in part-time work, laying the groundwork for their transition into full-time training once they secure an apprenticeship position.

Moreover, the new regulations enhance work opportunities for international students already enrolled in German institutions.

The permitted work duration for students has been extended from 120 to 140 full days in any calendar year, equivalent to 20 hours per week, or 280 half days per calendar year.

This adjustment acknowledges the financial challenges students may face and provides them with greater flexibility to manage their expenses.

In addition to pre-study work rights, graduates of German universities now benefit from an extended post-graduation stay of 18 months for job hunting.

This extended period offers graduates ample time to seek employment opportunities within Germany, with the option to apply for permanent residence after two years of continuous employment.

Overall, these amendments to Germany’s skilled worker law underscore the country’s commitment to attracting and retaining international talent.

By providing enhanced work opportunities and support mechanisms for students and graduates, Germany aims to strengthen its position as a hub for global education and professional development.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending