Day: March 28, 2023

The government plans to present financing instruments adjustable to the needs of startups, taking into account the different stages they are at, announced Tuesday the national director for Economy and Business Development, Nédio dos Santos.

Speaking at the updating meeting of the Ministry of Economy and Planning (MEP), he stressed that the instruments will be presented at the 2nd edition of the “Angola Startup Summer”, to be held on April 27 to 29, under the motto “Innovation and technology as vectors for the immersion of startups in Angola”.

Nédio dos Santos said that the event aims to foster the emergence of new startups, improve entrepreneurial literacy, mature ideas so that “they have the necessary robustness, so that when they go to the market they can have the normal startup cycle, as well as connect startups so that they can create service exchanges.

According to the official, the intention is to finance two companies via venture capital, in a universe of 200 startups segmented between projects under the umbrella of some universities or institutes, incubators, accelerators and those that today are companies, among others.

“The MEP will challenge the startups in order to find a set of solutions that can improve the parking system in the province of Luanda and the creation of QR code, by which customers can make payments in restaurants without human interaction”, he emphasized.

On his turn, the national director of Socio-economic Studies, Luís Epalanga, made known that the MEP in collaboration with the Economy and Market Magazine will hold the 1st edition of the “Angola Economic Outlook”, under the motto “Economic recovery to sustainable development”.

He also said that the event should constitute a platform for debate on issues focused on the national economy, namely economic growth, employment, inflation, public finances, monetary policy, and the national financial system.

With this event, he continued, the intention is to establish a forum that allows the Government, academia, the private and financial sector, and opinion makers to evaluate recent developments in the national economy and to anticipate the expected behaviour in the short and medium term, taking into account the forecast established for the international and national context on the solution of a set of assumptions.

Luís Epalanga says that this event should serve everyone interested in developing business in Angola (nationals, foreigners, internationally ranked financial institutions).

The 1st edition of the “Angola Economic Outlook” will be held on April 26 and will be attended by members of the Angolan Government, international development cooperation partners, academia, commercial banks and members of civil society.

The director also said that the opening ceremony is to be conducted by the Minister of State and Economic Coordination, Manuel Nunes Júnior, having as main speakers the Minister of Economy and Planning, Mário Caetano João, who will present the performance of the real sector of the economy in the period 2017 – 2022 and the medium term perspectives.

The event will also be attended by the minister of Finance, Vera Daves, who is expected to present the performance of public finances 2017-2022 and the governor of the Angolan Central Bank (BNA), José de Lima Massano, who will present the performance of the country’s external, foreign exchange and monetary sector.

According to Luís Epalanga, with this event, the Executive inaugurates a new way to communicate the performance of the national economy, to allow economic agents access to information, which allows them to anticipate decision making.

Source: Angola Press News Agency (APNA)

The Banco de Negócios Internacional (BNI) bank resumed on Monday the money transfer service called Moneygram in order to facilitate the transaction of values abroad for its clients.

According to a press release, which ANGOP had access to, the limit of money to send is 2,524,005 kwanzas equivalent to USD 5000 every month per customer.

According to the document, the strategic partnership between BNI and Moneygram (one of the main international players of money transfer and payment services) will allow customers, in a first phase, to use the service in 35 branches spread across the country.

The note revealed that the same partnership will facilitate the sending of money, in a fast way, to more than 200 countries, in which Moneygram is currently operating.

It also explains that the transfers of the amounts to be moved will be made and received in Kwanza currency, depending on the availability of the existing amount and the regulatory limits defined by the National Reserve Bank of Angola.

According to BNI´s board of directors, the date is relevant, not only because it resumes work, with a partner that has always been there, but also because it once again makes available a service that is of extreme importance to its customers.

Source: Angola Press News Agency (APNA)

About 230 companies are confirmed for the direct and indirect exhibition of the 5th edition of Expo-indústria/2023, to be held from March 29 to April 1, in the Special Economic Zone (ZEE) Luanda-Bengo, said, the Chairman of the Board of Directors of Eventos Arena, Bruno Albernaz.

Speaking to ANGOP, about the preparations for the event, he underlined that the 230 confirmed participations exceed the approximately 200 of 2019, when the Expo-indústria (Expo Industry) had a three-year pause, due to Covid-19 pandemic.

According to the businessman, despite the registration process being finalised, the confirmed participations represent an extremely positive number for a sectoral fair linked to the industry.

He made it known that in terms of participation there are about eight provinces, including Benguela, Huíla, Namibe, Malanje, Cabinda and Cuanza Norte.

He added that the exhibiting companies are all national, “that operate in our market, carrying out their activity in the country, because it is an expo focused on national industry. The international participation is of agents representing machines and equipment that they make available to these industries to keep up with their business”.

“There are 15 companies that are presenting to the market machines and solutions needed on the market”, he emphasized.

The 5th Edition of Expo-indústria/2023, to be held from March 29th to April 1st, in the Special Economic Zone (ZEE) Luanda-Bengo, will bring together, among several sectors, the manufacturing industry, engineering and civil construction, as well as the food industry and agribusiness.

Participation in the fair has a minimum value of 320,000 kwanzas for a “stand” of nine square meters, creating a 20% discount for companies that are not from Luanda.

The purpose of the event is to make industries increase employment and improve the living conditions of populations and leverage new partnerships and businesses.

Source: Angola Press News Agency (APNA)

The Federal Government says it successfully averted over 4000 impending strike actions by industrial unions across the country through dialogue in the last seven years.

Minister of Labour and Employment, Dr Chris Ngige, made this known at the weekly Ministerial briefing organized by the Presidential Communications Team on Tuesday in Abuja.

According to him, dialogue remains the best tool for settling labour disputes.

“We have been very proactive in handling industrial disputes.

”We have conciliated about 4000 labour disputes, more than that figure I think about 4300 or so since I came into that ministry and you don’t hear about that.

“Once we get notice of an impending strike, we call them to come, we discuss and we resolve the matter.

”Some of them are not very big unions especially in the oil and gas sector. But you don’t hear about that because we are forever committed to doing what we are supposed to do.

“The Ministry of Labour holistically conciliates but we don’t make those ones public because an agreement is reached almost immediately and the agreement ground is easy and you won’t see a strike.

”Once you write to us of a pre-action, (Trade Dispute Notice) once you do that, you have exercised your right and the rest is left for us.” he said.

Ngige added that the Ministry has Labour Dispute Desks and Rapid Response Teams in all the States of the federation that help in addressing industrial disputes.

According to the minister, modalities are already in the pipeline to give pay rise to civil servants especially those that enjoy peculiarity allowance, adding that the authorities are just waiting for the president’s approval to implement.

“We are already addressing the envisaged challenges associated with the current high cost of living.

“We are handling the issue of pay rise, some of the Ministries Departments and Agencies are doing that; even for Federal Civil Servants, there is a peculiar allowance that is envisioned for them.

“The Presidential Committee on Salaries has approved it and we have sent that to the President and once he approves it, implementation will start for them.

”Other people in the public service are also taking a queue, some are giving five or ten per cent pay rise,” he said.

The minister further disclosed that Nigeria had completed arrangements to collaborate with the International Organization for Migration to prevent illegal migration by job seekers.

He added that efforts had been intensified to revive textile industries in the country, adding that the Central Bank of Nigeria had since put in place special funds for cotton growers.

He said that the fund was to locally source raw materials for the textile industries.(NAN) (www.nannews.ng)

Source: News Agency of Nigeria

President Muhammadu Buhari says the discovery and drilling of oil in Nasarawa State will lead to greater prosperity for Nigerians as well as enhance overall energy security for the country.

The president stated this in his virtual message to the official spud-in of the Ebenyi-A Well located in the Middle Benue Trough, in Obi Local Government of Nasarawa State on Thursday.

The president said the surrounding communities would particularly benefit from the value created by the exploration and eventual production activities.

He directed NNPC Limited and its partners to take due care of the environmental consequences of these oil exploration activities and to mitigate the negative effects.

He thanked the Government, people of Nasarawa State and the host community for their unfettered support and collaboration towards the success of this exploration campaign.

The president recalled that the official commencement of drilling activities in the Middle Benue Trough is in line with ongoing campaigns for the exploration of crude oil and gas in the Nation’s Frontier Basins.

He listed the Chad Basin, Dahomey Basin, Anambra Platform, the Calabar Embankment, Sokoto Basin, Bida Basin, Benue Trough as well as the Ultra-Deepwater Niger Delta as areas where NNPC would be extending its crude oil exploration.

‘‘This is consistent with the commercial discoveries of hydrocarbons in the Kolmani Area of the Upper Benue Trough.

‘‘I am pleased to note that activities are currently ongoing to develop the Kolmani petroleum discoveries to commercial production to add to the nation’s considerable hydro-carbon assets.

‘‘I am encouraged by the enormous work done by NNPC Limited to exploit the prospects in the Middle Benue Trough, leading to the event of today.

‘‘I congratulate NNPC Limited, the Nigerian Upstream Petroleum Regulatory Commission and other partners for their immense contributions towards making this day and this event possible,’’ he said.

He directed Gov. Abdullahi Sule of Nasarawa State and Group CEO, NNPC Limited, Mele Kyari to spud on his behalf.(NAN) (www.nannews.ng)

Source: News Agency of Nigeria

A study by Deloitte says Nigeria’s economy will expand by $19 billion in productivity if the country eliminates Neglected Tropical Diseases (NTDs) by 2030.

The study, commissioned by the END Fund, was released in a statement by Ms Oyetola Oduyemi, its Senior Director for Public Affairs, on Tuesday in Lagos.

The END Fund is a private philanthropic initiative dedicated to ending the most common NTDs.

Neglected tropical diseases are a group of parasitic and bacterial diseases that are widespread among economically disadvantaged groups.

The diseases are often chronic and cause severe symptoms that significantly hinder the ability of an individual to live an independent life.

The study focused primarily on the five most common NTDs in Nigeria, namely, lymphatic filariasis; onchocerciasis (river blindness); schistosomiasis (snail fever); soil-transmitted helminths (STH, intestinal worms) and trachoma.

Oduyemi said the report’s objective was to fully present key economic and social benefits of eliminating the five most prevalent NTDs in Nigeria by 2030.

She said it also included long-term financial returns and a cost-benefit assessment of elimination programmes.

According to her, the study shows that in Africa, the share of the population suffering from NTDs is negatively related to wealth.

“It shows that as countries develop their economies, they become better at handling NTDs through investment,” she said.

She added that the elimination of NTDs was correlated with good educational outcomes.

“The Report is designed to galvanise a concerted effort by the public, private and philanthropic sectors of the country and sub-region to elevate the NTDs in public health systems.

“They should also increase the domestic resource envelope for NTDs and influence policy making that will effectuate these objectives in working to achieve the indicated potential benefits of achieving the WHO NTD Roadmap 2030 on disease control and elimination.”

Oduyemi said that the gains of eliminating the NTDs would extend beyond 2030, as individuals who were cured or avoided infection live more productive and fulfilling lives.

She listed the additional economic benefits as avoided out-of-pocket expenses, enhanced productivity of caregivers and increased school attendance of pupils. (NAN)(www.nannews.ng)

Source: News Agency of Nigeria