Connect with us

Company News

Djembe Consultants Announces 10th Anniversary Celebration Campaign 

Published

on

Djembe Consultants (Djembe), an award-winning consultancy focusing on the African and Middle Eastern (MEA) regions, today announced a six-month campaign that will celebrate the Consultancy’s 10 year anniversary by showcasing a diverse team and client partners, who together have delivered innovative communication programs in the MEA region and on the global stage. 

Since its inception, Djembe has effectively brought together a unique combination of home-grown talent from across the MEA region and a team of multi-disciplinary international communications experts. The Consultancy’s multinational approach, which combines local insights with global best practices, has seen it emerge as a trusted advisor to local, regional, and global organizations, helping them achieve their full potential within the MEA region and internationally.

This diverse client mix has enabled the Djembe team to support strategic communications and reputation management projects over the past ten years in 36 African and 13 MENA countries – in addition to global outreach in key international markets in the Americas, Asia, and Europe.

During the second half of 2023, Djembe will showcase a decade’s worth of success in supporting projects that have amplified a narrative of opportunity, growth, inclusion, and innovation. The celebratory campaign will highlight Djembe’s unique presence within the innovation ecosystem, showcasing the Consultancy’s work as a catalyst for growth and entrepreneurial opportunity throughout the ecosystem and across multiple industry sectors in the MEA region.

Djembe Consultants, Chief Executive Officer Mitchell Gary Prather, commented on the Consultancy’s 10th anniversary: “As Djembe Consultants celebrates our 10-year anniversary, we have a great opportunity to reflect on our successes. This is a major milestone and a testament to the strength of our client offering and the extremely high caliber of the Djembe team. Through our deep-rooted presence across Africa and the Middle East, we have conducted extensive incubator and accelerator program workshops, mentored hundreds of start-ups and innovators, and successfully secured over three million dollars of funding for MEA start-ups. Furthermore, the Djembe team has supported multi-billion dollar client commitments to enhance trade finance and socioeconomic development.”

In addition to reflecting on its successes, Djembe will use its tenth anniversary to look to the future and set out its plans for the next ten years. The firm continues to secure an ever-greater breadth of mandates from MENA-based organizations, leaving it well-positioned to continue supporting the region’s socioeconomic development through its work with a rich cross-section of clients in critical economic growth sectors while advancing a social development agenda.

From SMEs to trade finance and development corporations, sovereign wealth funds, promising start-ups, and innovators, the strong appeal of Djembe’s determined and enthusiastic approach to developing and executing communication programs has been incredible:

Djembe was recently re-selected as the agency of record for the International Islamic Trade Finance Corporation, which is a five-year client relationship
Over the past five years, Djembe has worked to promote the Zayed Sustainability Prize in Africa, and its reach has been extended to promote the prize across the Middle East.
Djembe’s expertise has been utilized in AfCFTA and AML campaigns, investment funding, product launches, trade finance and development initiatives, and SME accelerator programs

As a well-respected advisory and award-winning communications firm in the years preceding COVID-19, Djembe has worked closely with multiple organizations to support their emergence from the effects of the pandemic.

Prather explained, “As soon as the pandemic began to unfold, Djembe leveraged our extensive network to join forces with organizations large and small, public and private, to focus on helping communities receive the benefits emanating from meeting the UN Sustainability Development Goals.  Djembe’s extensive capabilities extend far beyond supporting client initiatives to advancing a social development agenda by addressing the digital divide, increasing financial know-how, encouraging the take-up of green initiatives, promoting inclusivity, and advocating rural community development. We are delighted to be able to showcase much of this work and results during our 10-year celebrations in the second half of this year.”

Continue Reading
Comments

Company News

Nigeria’s Dangote Refinery Breaks Into Asian Market with LSSR Shipment

Published

on

Aliko Dangote - Investors King

In a historic move, Dangote Refinery is set to ship low-sulfur straight-run fuel oil (LSSR) from Nigeria to Singapore this week, its entry into the Asian market.

This development represents a significant milestone for the refinery, which began operations in January following a $20 billion investment.

According to ship tracking data and market sources, the refinery will initiate a new trade route from Nigeria to Asia, a region that consistently demands low-sulfur fuel oil for ship refueling at Singapore, the world’s largest bunker hub.

The Glencore-chartered vessel, Front Brage, will deliver approximately 124,000 metric tons (787,400 barrels) of LSSR to Singapore, with the shipment expected to arrive on Wednesday.

The Dangote Refinery, with a processing capacity of up to 650,000 barrels of products per day, is poised to become the largest refinery in Africa and Europe once it reaches full capacity.

Since March, the refinery has increased its LSSR exports, primarily sending cargoes to the Americas and Europe, as reported by ship tracking data from Kpler and Vortexa.

“This first shipment to Asia marks a new chapter in Dangote Refinery’s expansion strategy,” said a market analyst. “Breaking into the Asian market underscores the refinery’s growing influence and its capability to meet diverse global fuel demands.”

Market sources suggest that the cargo was redirected to Asia due to weaker demand in Europe. Data from LSEG indicates that the east-west spread for front-month 0.5 percent LSFO, reflecting the price difference between these regions, stayed above $40 per ton this week.

Dangote’s LSSR cargoes are priced against Rotterdam’s 0.5 percent LSFO quotes on a free-on-board basis, although the specific pricing differential for this shipment was not disclosed by market sources.

This pioneering shipment is the beginning of a series of exports to Asia. Another LSSR shipment from the Dangote refinery, containing around 157,000 tons, is expected to reach Singapore in July aboard the vessel Stena Suede, based on ship tracking data.

LSSR is typically blended with other fuels to create low-sulfur fuel oil (LSFO) for bunkering or used as feedstock in various refinery processes.

This export initiative not only diversifies Dangote Refinery’s market reach but also enhances Nigeria’s position in the global energy market.

In February, Dangote began exporting oil products and started purchasing crude oil, mainly from the Nigerian National Petroleum Company (NNPC) Ltd, in December 2023.

The refinery’s successful entry into the Asian market is anticipated to drive further growth and establish new trade relationships, reinforcing its status as a key player in the global oil industry.

Related News:

  • Big oil buyers’ shift to electric vehicles threatens Nigeria’s petrodollars
  • More naira, less value as inflation erodes N7.6tn consumer spending
  • Seasonality, high transport costs responsible for tomato price surge, says expert

This landmark export not only demonstrates Dangote Refinery’s operational capabilities but also signals Nigeria’s expanding influence in the global energy sector. As the refinery continues to innovate and expand, it is well-positioned to meet the increasing global demand for cleaner, more efficient fuels.

Continue Reading

Company News

From 1999 IPO to AI Titan: Nvidia’s 591,078% Return on Investment

Published

on

Nvidia Corp. has transformed from a fledgling chipmaker to the world’s most valuable company, boasting an astronomical total return of 591,078% since its initial public offering (IPO) in 1999.

This unparalleled growth underscores the company’s pivotal role in the technological revolution, particularly in the realms of graphics processing and artificial intelligence (AI).

Nvidia’s ascent to the top of the market culminated on Tuesday, as it unseated Microsoft Corp. to claim the title of the world’s most valuable company, with a market capitalization of $3.34 trillion.

The company, which debuted on the Nasdaq stock exchange at a modest valuation, has added over $2 trillion to its market cap this year alone, driven by surging demand for its cutting-edge AI chips.

The Early Years: Laying the Foundation

When Nvidia launched its IPO in 1999, the tech landscape was vastly different. Intel dominated semiconductors, and Nvidia was a relatively unknown entity.

However, the company’s strategic focus on developing advanced graphics processing units (GPUs) quickly set it apart. By securing deals to supply GPUs for popular video-game consoles like Microsoft’s Xbox and Sony’s PlayStation, Nvidia established itself as a key player in the gaming industry.

Overcoming Challenges: Litigation and Competition

The path to success was not without obstacles. In the early 2000s, Nvidia faced significant challenges, including a major legal dispute with Intel that temporarily pushed it out of a crucial market segment. The stock also endured three separate annual declines of over 50%, testing the resolve of its investors.

However, Nvidia’s commitment to innovation and strategic foresight kept it moving forward. In 2012, the company introduced graphics chips for servers in data centers, opening a new and lucrative market. Although initial sales were slow, this move laid the groundwork for future growth in high-performance computing.

The AI Revolution: A New Era of Growth

Nvidia’s fortunes took a dramatic turn with the advent of AI. The company’s GPUs, initially designed for rendering video game graphics, proved to be exceptionally well-suited for the parallel processing tasks required in AI and machine learning. This versatility positioned Nvidia as a leader in the AI hardware market.

The release of OpenAI’s ChatGPT in late 2022 was a pivotal moment. As interest in AI applications skyrocketed, so did the demand for Nvidia’s chips. The company’s revenue from data centers, driven by AI-related sales, began to eclipse its traditional gaming revenue. By the first quarter of 2023, Nvidia’s earnings report revealed a jaw-dropping surge in sales, far exceeding Wall Street’s expectations.

A Test of Staying Power

Despite its meteoric rise, Nvidia faces ongoing challenges. Sustaining its current market position will require continued innovation and substantial investment in AI infrastructure. The company’s future success hinges on the broader adoption of AI technologies and the ability of its customers to generate significant returns on their investments in AI hardware.

Vision and Leadership: The Jensen Huang Effect

Much of Nvidia’s success can be attributed to the visionary leadership of co-founder and CEO Jensen Huang. His foresight in steering the company towards “accelerated computing” has been instrumental in Nvidia’s dominance. Under Huang’s guidance, Nvidia has consistently been at the forefront of technological advancements, catching every wave of innovation in hardware.

The Road Ahead

As Nvidia continues to navigate the complexities of the global tech market, its story serves as a testament to the power of strategic vision and innovation. With AI set to revolutionize industries from healthcare to automotive, Nvidia’s role as a key enabler of this transformation positions it for continued success.

Investors and analysts alike will be watching closely to see if Nvidia can maintain its lead in the fiercely competitive AI market. If its past performance is any indication, the future looks promising for this once-modest chipmaker turned AI titan.

Continue Reading

Company News

Dangote Group Expands Refinery Storage Capacity to 5.3 Billion Litres

Published

on

Dangote Refinery

The Dangote Group has announced a significant expansion of its refinery storage capacity.

The expansion, disclosed by Alhaji Aliko Dangote, President of the Dangote Group, during his address at the Afreximbank Annual Meetings and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas.

Currently boasting a storage capacity of 4.78 billion litres, the Dangote Petrochemical Refinery is set to increase this figure by an additional 600 million litres, bringing the total capacity to an impressive 5.3 billion litres.

This expansion underscores Dangote’s commitment to transforming Nigeria into a hub for refined petroleum products and solidifies the refinery’s role as a strategic reserve for the nation.

Addressing stakeholders at the forum, Dangote highlighted the refinery’s pivotal role in addressing longstanding challenges in Nigeria’s energy sector, particularly the absence of strategic reserves for petrol.

“The country doesn’t have strategic reserves in terms of petrol, which is very dangerous. But in our plant now, when you came, we had only 4.78 billion litres of various tankage capacity. But right now, we’re adding another 600 million,” Dangote affirmed.

The expansion comes amidst various operational challenges faced by the refinery, including attempts by international oil companies to hinder its operations.

Dangote asserted that these challenges, aimed at impeding the success of the refinery, were indicative of broader resistance to change within the oil industry.

“We borrowed the money based on our balance sheet. I think we borrowed just over $5.5bn. But we paid also a lot of interest as we went along, because the project was delayed because of a lack of land, also the sand-filling took a long time,” Dangote revealed, emphasizing the resilience required to overcome these obstacles.

Moreover, Dangote expressed optimism regarding the refinery’s capacity to influence regional fuel prices, citing the success story of diesel price reduction following the refinery’s market entry.

He indicated that while petrol pricing remains a complex issue governed by governmental policies, the refinery’s operations would strive to offer competitive pricing and supply stability.

The expansion of the Dangote Petrochemical Refinery not only marks a significant milestone in Nigeria’s industrial landscape but also positions the conglomerate as a key player in reshaping Africa’s energy dynamics.

As construction progresses towards completion, the refinery aims to further consolidate its role in meeting regional energy demands and fostering economic growth across West Africa.

With plans to commence sales of refined products in the coming months, Dangote’s refinery is poised to play a transformative role in Nigeria’s quest for energy independence and regional economic integration.

As stakeholders await the refinery’s operational debut, expectations are high for its potential to drive down fuel prices and enhance energy security across the region.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending