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Dangote Says More Jobs to Be Created Despite Laying Off Over 3,000 Staff

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After Sacking Over 3,000 Staff, Dangote Says More Jobs to be Created

Aliko Dangote, the President of Dangote Group, has said despite the challenges facing global economy, especially Africa, Dangote Group will continue to create new jobs.

Aliko Dangote, who spoke at the company’s 11th Annual General Meeting in Lagos, said Dangote Group has created over 54,000 jobs in four African nations where it operates. He listed the countries as South Africa, Ethiopia, Senegal and Nigeria, the company’s largest operation.

He said “According to our 2019 socioeconomic impact assessment study specifically on our operations in Nigeria, Ethiopia, Senegal, and South Africa, we sustained 54,005 jobs (direct, indirect, induced) in these four markets in the year under review.”

This was a week before Dangote Cement reportedly laid off over 3,000 staff on June 17 with a plan to return over 80 percent of its staff back to labour market.

According to a SaharaReporters report, the company has so far let go about 4,000 out of its 6,000 drivers.

An anonymous source said to be familiar with the situation said the company used staff throughout the COVID-19 stay at home order despite strict lockdown instruction. However, instead of promotion or compensation for putting their lives on the line, they were sacked.

He said “At the beginning of the year, they did an appraisal, it was supposed to be for a promotion and then the pandemic struck.

“When the pandemic struck, people were thinking that is when he will sack people but nothing like that happened as a matter of fact, the people that they have compulsory leave because of the pandemic were ordered back after just five days.

“Everyone was recalled back to work despite the lockdown and at that time they were pushing out trucks of cement around 500 to 600 every day.

“People were working overtime because it is owned by Dangote, his trucks were exempted from COVID-19 restrictions, so they forced people to work overtime like 12 yours everyday morning and night. The country was beginning to reopen little by little and then the next thing was sack,” he said.

Another victim of the mass sack said he was working as usual when he was called and compelled to sign a termination letter without prior warning.

He said, “As I speak to you, more than 3,000 people are being sacked. You will be at your duty post and they will call you and give you a letter, nobody knew, no prior notice.

“As a matter of fact, after the appraisal at the start of the year, many of us were given recommendations to be promoted to manager and other positions within the organisation.

“I was at my duty post, I got a call from the admin and when I got there, they gave me a letter and said I should sign the original collected by me, you cannot argue with anybody.

“As a matter of fact, the Head of Materials and Maintenance, Engr Basil, he has only nine people in his unit. He force them to cover the whole of the facility because they have to create evaluations for materials and make reservations for maintenance so when was asked to submit the names of nine people in his department to sack, when he refused explaining to upper management that he was already understaffed and taking out anyone will make the work to suffer. They gave him an ultimatum of 24 hours to submit names from his team for sack and when he refused to do it after it elapsed, he was sacked along with his team.”

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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Farmforte, Others Signs MoU To Strengthen and Sustain Growth in Agricultural Sector

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Farmforte - Investors King

Farmforte Limited has signed a strategic Memorandum of Understanding with the Agricultural Fresh Produce Growers and Exporters Association of Nigeria; HYBR, a pan-African innovation firm; and ALTS, a consulting and strategy development firm.

The firm said in a statement on Sunday that the partnership would strengthen common interest cooperation and stimulate inclusive and sustainable growth within the agricultural sector, by capitalising on the synergy and comparative advantage offered by each organisation.

Speaking during the signing ceremony, Farmforte Co-Chief Executive Officer, Osazuwa Osayi, said, “Our mid to long-term strategic goals are further reaffirmed, as this partnership will facilitate the sharing of knowledge, ideas, and expertise across the agricultural sector.

“We will collectively address initiatives and approaches concerning agricultural investments, food security, and the overall robustness of the value chain.”

He said the collaboration would also unlock the full potential of the sector and place it on a renewed path for success, especially within a post-pandemic economy.

The President of AFGEAN, Tajuddeen Dantata, said, “By creating dialogue and fostering investment in the horticulture sector, this partnership will endeavor to support Farmforte in its exporting efforts by improving operational efficacy and cost-savings, while ultimately driving socio-economic growth in the country.”

The Chief Executive Officer, HYBR, Charles Ojei, said to drive inclusion, sustainability, job creation, and Nigeria’s overall economic growth, the optimisation of the agriculture value chain was critical.

“This collaboration is a fusion of the complementary capabilities of all partners to move a bigger agenda forward.”

The Managing Partner, ALTS, Akintunde Sawyerr, said, “The goal of this partnership is to support Farmforte’s vision of becoming the largest agribusiness by 2035 via scalable and world-class innovation across its enterprise.”

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OctaFX Launches Dual Life Campaign

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OctaFX- Investors King

International Forex broker, OctaFX has launched a socially conscious marketing campaign called Dual Life aimed at simplifying forex trading and helping Nigerians create wealth.

A statement by the organisation on Monday said that the marketing campaign would celebrate the superpowers of Nigerians who committed their time and efforts to two or more jobs and were successful at each one of them.

It stated that the #DualLifewithOctaFX campaign had influencers in the Nigerian lifestyle and entertainment space such as Toke Makinwa, Bovi, Denola Grey, Timini Egbuson, and others at the core of the engagements, establishing the other sides of the celebrities and influencers as entrepreneurs.

While speaking about the campaign, the Marketing Manager, EMEA, OctaFX, Ali Nwadike said, “We wanted to position forex trading as that activity young Nigerians and everyone else, can engage in, even while focusing on their careers.

“From findings, most young Nigerians today work two or more jobs to pay the bills and attain financial freedom. But, we don’t get to talk about this often or appreciate the efforts, hence the #DualLifewithOctaFX campaign.

“While some see their jobs as a burden, we want people to see it as an achievement; and promote the school of thought that says one, two, many jobs is not bad especially when you are trying to create wealth.”

Nwadike added that more Nigerians would be exposed to the beauty of keeping their regular jobs and careers while making more money from forex trading with the OctaFX Trading App.

The statement also affirmed that OctaFX had made necessary arrangements from assembling forex experts and compiling training guides in the simplest and relatable form.

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Appointments

AfDB Appoints Dr. Beth Dunford as Vice President

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African Development Bank - Investors King

The African Development Bank Group (AfDB) has announced the appointment of Dr. Beth Dunford as its Vice President, Agriculture, Human and Social Development. The appointment becomes effective from July 1, 2021.

A statement explained that Dunford, a national of the United States of America, brings extensive experience to this role. She has held senior-level leadership positions in the US government, where she managed large and complex programs, working with the private sector, civil society, and multilateral and bilateral institutions, as well as with African governments, to deliver agricultural, social and human development impact at scale.

Prior to her appointment, Dunford worked as the Assistant to the Administrator in the U.S. Agency for International Development’s (USAID’s) Bureau for Resilience and Food Security, as well as the Deputy Coordinator for Development for Feed the Future, the U.S. government’s global hunger and food security initiative.

“In this dual role, she coordinated Feed the Future across multiple U.S. government agencies, oversaw a $1 billion annual budget and leveraged millions of direct private sector investment annually. In this capacity, she also coordinated a $2.3 billion Feed the Future presidential initiative across 11 US government agencies and forged partnerships within the private sector and civil society targeted at reducing hunger and poverty.

“She also led USAID’s technical and regional expertise focused on improving agriculture-led growth, resilience, nutrition and water security, sanitation and hygiene,” the statement added.

President of the African Development Bank, Dr. Akinwumi Adesina said he was delighted to appoint Dunford as Vice President to lead the Bank’s work on Agriculture, Human and Social Development.

“Beth is a strategic and effective leader with deep knowledge and impressive track record in designing and delivering highly impactful large-scale programs that have helped in lifting 27 million people out of poverty in 36 countries,” he added.

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