President Nana Akufo-Addo delivers great keynote address at ‘The Tony Elumelu Foundation Entrepreneurship’ 

”We live on the richest continent in the world yet our people are the poorest, that’s a contraction that has be resolved’  Akufo-Addo

On Thursday,  October 25th 2018, Ghana’s President Nana Akufo-Addo was the Guest of Honour at the Tony Elumelu Foundation Entrepreneurship Forum held in in Lagos, Nigeria.

During his keynote address, President Akufo-Addo informed the young African entrepreneurs (5,000 entrepreneurs across Africa)who are trained, mentored and funded, by the Tony Elumelu Foundation that

”We live on the richest continent in the world, yet our people are the poorest, that’s a contradiction that has be resolved….strong market economies provides the best framework for developments, for prosperity and for wealth creation”

President Akufo-Addo, further advised that, leaders must run their country and the economy well

When asked by one of the young entrepreneurs if the $60 billion given to Africa by China is not a betrayal of the Africa Beyond aid, President Akufo-Addo said

 ”Up till today, the education budget in Ghana  30% is funded by grants from foreign donors, the same with the health budget of Ghana…..Borrowing money is not aid. What President Xi Jinping offered is a $60 billion fund which African countries can access, not as aid but as loans. If you can produce a project that the Chinese think is worth supporting, you can have access to that money, but you have to pay it back.”

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He added that “everybody borrows money. United States of America is one of the biggest debtors in the world. So borrowing money is not necessarily a betrayal of the concept of independence NO. The key for us in borrowing money is that we borrow money to create assets that will allow us to pay the money back…

President Akufo-Addo, further explained that the money must be used wisely to create assets that will allow Africans to pay back. ‘Our aim and focus should be on expanding Africa’s economy and Infrastructure…’

Speaking at the opening of a major summit with African leaders in September, China’s President  Xi pledged $60 billion to Africa in the form of assistance, investment and loans with ‘no strings attached’ China’s Xi made it clear that the money was to be spent wisely and not anyhow 

”Chinese funds are not to be spent on any vanity projects”.

he believes inadequate infrastructure is  the biggest bottleneck to Africa’s development. President Xi  added that he will encourage other companies to invest also minimum of  $10 billion in Africa over the next 3 years. Some of the people we spoke to were a bit confused about the ‘no strings attached’ aspect. It is therefore very good that the question of the $60 billion from China to Africa was explained Ghana’s president.

President Akufo-Addo concluded by saying that there’s no contradiction to what China did with regards to the ‘Africa Beyond aid’ vision i.e standing on our own 2 feet…   

Find out more about The Tony Elumelu Foundation Entrepreneurship by visiting  tonyelumelufoundation.org 

Source: President Akufo-Addo

 

 
 

Stephanie Linus Revealed As Brand Ambassador for MINISO Nigeria

Nollywood Actress & Entrepreneur Stephanie Linus, has been revealed as the brand ambassador for Japanese Retail Giant, MINISO Nigeria..

 
Listed as the Number One fastest growing retail brand since her establishment in Japan in the year 2013, MINISO would be launching its new branches in Nigeria in a few weeks. This is adding to its over 2,250 stores in more than 41 countries and close to 15 countries underway.
Stephanie Linus Revealed As Brand Ambassador for MINISO Nigeria
 
Stephanie Linus Revealed As Brand Ambassador for MINISO Nigeria
At a press conference yesterday, Miss Colette Atane, the Marketing Communications Manager for MINISO Nigeria who revealed the renowned Actress, Director and Producer, Stephanie Linus as the Brand Ambassador emphasized that the MINISO Brand philosophy of “simple, natural & quality” is the major reason for their choice as Mrs Linus exemplifies the very essence of the MINISO Brand.
Stephanie Linus Revealed As Brand Ambassador for MINISO Nigeria
 
In her remarks, Mrs Linus expressed her excitement about the breath of fresh air coming into the Nigerian Retail market as MINISO represents the perfect mix of ‘quality and affordability’ with a wide range of products that appeals to all age groups. She also said she is particularly glad to be part of the phenomenal ideology of “simple”, “natural” and “quality” products and appreciated MINISO Nigeria for giving her the opportunity to serve as Brand Ambassador.
 
 
The Country Manager of MINISO Nigeria, Mr Chris Lee explained that MINISO products are lifestyle essentials that includes creative home necessities, health and beauty products, fashion accessories, gadgets, digital accessories, stationeries gifts, unique toys series, seasonal products, Kitchenware, etc. with more than 10,000 SKUs. Their products caters to customers from age 8 – 60.
Stephanie Linus Revealed As Brand Ambassador for MINISO Nigeria
 
80% of MINISO’s designs are from Japan, Korea, Sweden, Denmark, Singapore, China and Malaysia. The company’s products are made with the mantra “good quality with low price”, with the belief that the actual value of a brand should be beneficial to millions of people rather than providing services only to the noble and the rich.
 

MINISO Nigeria will be opening six stores in Lagos this September and more across Nigeria in the coming months.

Stephanie Linus Revealed As Brand Ambassador for MINISO Nigeria
 
 
 
 
 

Every year thousands of Africans go to China to shop. To purchase lots of products that they always needs  containers to ship their  goods back to their country of origin. As a result of this booming business, fellow Africans have set up shop in China to help facilitate the trade.

The global shipping and logistics company Maersk recently produced a corporate video called “Life of an African trader” to showcase the growing importance of Sino-Africa trade…

We hope the  Africans who go to china will take advantage of Maersk  Line services….

***For those who have been asking us about ‘international shipping, sending goods overseas’ *** please contact global shipping and logistics company Maersk direct. Thank you.

Credit: Maersk Line

A China Visa Application Service Centre opened in Johannesburg. It’s hoped that this will make it easier for more South Africans to travel to China.

It’s the first Chinese visa service centre in the African continent. Its specifically expected to improve efficiency in the issuance of visas to South African citizens.

It was established following a need to further develop relationship between China and South Africa. Through this centre China hopes open similar centers in other countries in the continent.

Bilateral ties between China and South Africa have improved significantly in the last couple of years.

This growth has led to a rise in the number of South Africa making trips to China and vice versa.

With such high numbers, the centre is aimed at easing travel arrangements for South Africans seeking to travel to China.

Source: ecns

The People’s Republic of China on Tuesday signed a Memorandum of Understanding (MoU) with Ghana to grant free entry visas to Ghanaian diplomatic and service passport holders.

China grants free entry to Ghanaian diplomatic

The agreement was signed in Accra by Mr Thomas Kwesi Quartey, Deputy Minister for Foreign Affairs and Regional Integration and Mrs Sun Baohong, the Chinese Ambassador to Ghana.

Mr Quartey said the mutual exemption of diplomatic and service passport holders from visa requirement would strengthen the bilateral relations between Ghana and China.

He recounted the strong bond of friendship between the two sister nations since the days of Dr Kwame Nkrumah and Chairman Mao Tse Tung and said the numerous visits by Chinese state officials to Ghana and vice versa attested to it.

He said Ghana was looking forward to a greater political and economic cooperation between the two countries.

Mrs Sun said the signing of the MOU was a major start which would help boost the cooperation between the two countries.

She said this year marked the 55th anniversary of the establishment of diplomatic relations between the two countries.

Source: GNA

The Chief Executive Officer of AGAMS Group and the founder of electronic manufacturer, RLG Communications has been named among the 10 African Millionaires under 40, ventures.com Africa has revealed.

Agambiri Named Among Africa’s ten millionaires under 40

The 39-year-old Chief Executive Officer(CEO), has reportedly expanded his company’s presence to China, Gambia and Nigeria- where it established a $20 –million assembly plant- and Dubai, the location of its new global headquarters.

The Ghana Investment Promotion Centre’s Ghana Club 100 previously christened RLG as the Fastest Growing Company in Ghana, the Leader in Ghana’s ICT Sector and the Best Entrant to the Club 100.

Roland Agambiri is the group chairman of AGAMS GROUP and the founder and CEO of the much-celebrated electronics manufacturer, rlg Communications. His ascent is a study in determination.

After earning a Bachelor’s Degree in Business Administration, Agambiri established Roagam Links Ghana in March 2001 as a mobile phone repair outlet.

It later became rlg, the pioneer indigenous computer and mobile phone plant and technology institute in Ghana and the West African sub-region.

Other new class of millionaires under 40 whose ideas have been described as both transforming the continent and making them fabulously -wealthy are Mark Shuttleworth, 39, Ashish Thakkar, 31, Ugandaashish thakkar, 31, Vinny Lingham, 34, Sim Shagaya, 38, among others.

 

Credit: Ventures-africa.com

Addis Ababa metro _n

Ethiopia expects to complete the Chinese-backed construction of a $475 million metro rail system in the capital Addis Ababa next month, the head of the project said.

The project, built by China Railway Engineering Corporation (CREC) and mostly financed through a loan from China’s Exim Bank, is a rarity on a continent plagued by poor transport links.

Beijing is a major partner in Ethiopia’s bid to expand its infrastructure, with cumulative investments by Chinese firms reaching well over $1 billion, official figures show.

The Horn of Africa country is building a new rail link to neighbouring Djibouti and wants to complete 5,000 km of railway lines by 2020.

It will also aims to almost treble the size of the road network by next year, from less than 50,000 km in 2010.

Ethiopia is one of Africa’s fastest growing economies, expanding by about 9 percent a year and attracting overseas investment with its with rock-bottom wages, cheap and stable electricity and transport projects such as the metro.

A country where many still rely on subsistence agriculture, Ethiopia is nonetheless developing a reputation for producing clothes, shoes and other basic goods that have attracted firms from China, as well as India and the Gulf.

The metro system will transform the lives of the more than 5 million people in the capital, where commuters currently wait in long queues before they are crammed onto buses and minivans.

Project manager Behailu Sintayehu told Reuters nearly 80 percent of the tracks had been laid and he expected it to be completed by the end of January 2015, three years after the plan was launched in January 2012.

“We believe that it will have a great impact in alleviating the problem of transportation in the city,” Behailu said.

Stretching for a combined 32 km, two lines dividing Addis Ababa north-south and east-west will serve 39 stations, in underground and overground sections.

The state-run Ethiopian Railways Corporation signed an agreement this month that will see Shenzhen Metro – the enterprise managing the Chinese city’s subway system – operate the lines for a period of 41 months alongside CREC.

CREC will carry out a trial phase of up to three months and then the teams will decide when to start operating the system, Ethiopian Railway Corporation’s spokesman Dereje Tefera said.

Other African capitals with either subway systems or light rail networks are Cairo, Algiers and Tunis. South Africa has an extensive system linking several cities.

Credit: theafricareport.com

mobile solar power project in MalawiThe Governments of Malawi and China on Friday signed an agreement for the provision of mobile solar power systems worth about K5 billion (US$10 million) to be used in the health sector in the country.

Speaking during the signing ceremony at the Ministry of Finance in Lilongwe, the Chinese Ambassador to Malawi Zhang Qingyang said the mobile solar power units will ease power shortage in health facilities in rural areas in the country.

Qingyang noted that Malawi’s power grid only covers about 9 percent of the country’s population and as a result, most development activities are affected because of power shortage.

He observed that Malawi has abundant sunshine that would make it suitable for the use of the solar systems.

“I believe these mobile solar systems will play an important role in improving the lives of the local people,” said Qingyang.

The Chinese Ambassador disclosed that last year his government also donated 250 solar street lights and 533 sets of mobile solar systems which were installed at Capital Hill and some were distributed to some of the country’s hospitals.

Minister of Finance Goodall Gondwe thanked the Chinese government for the donation of the mobile solar power systems which he said would go a long way in addressing electricity challenges the country is facing.

“On behalf of government and people of Malawi, I would like to extend our sincere gratitude for this donation which will go a long way in alleviating electricity challenges currently being faced by our rural health facilities,” said Gondwe.

He noted that rural health centres played a very critical role in the provision of basic health care hence the mobile solar power systems would be very easy to use.

Source:allafrica.com

MysimaxJ. X. PaulinBenjamin Franklin once said: “An investment in knowledge pays the best interest”. However, while educational tools are always more innovative in developed countries, emerging economies have an urgent need for educational improvement at all levels.

Having made this alarming observation, some investors have decided to design a project that will contribute to this development in developing countries, especially in Africa. They are certain that the establishment of new technology is crucial for the improvement of education. Mysimax is a brand engaged in the development, production, and marketing of educative tablet PCs and mobile platforms in emerging markets.

What is Mysimax’s project?

Mysimax is based in China, and its purpose is to provide African students with high-technology. Mysimax also offers specific scholarship funds for African students. Mysimax will send students to the best universities in Shanghai, which will help develop a rapport between the two cultures.

Mysimax’s project in Africa can become an astounding first, a symbol of Africa’s opening up to the rest of the world. It will enable countries that use its products to lead the continent in the development of new technologies and to assume leadership in a new Africa.

How this kind of project can emerge in Africa?

Mysimax’s project also aims to provide access to technology for the whole society. This can only be possible through partnership with local investors or communities including governments, administrations, schools, and any organisations associated with public communities.

JX Paulin an entrepreneur with a vision for Africa

During his 20-year work experience in China, with a decade as an entrepreneur, JX Paulin spotted the impact technology can have on a country’s development. He was one of the few Europeans to believe in the growth of China as a world leading power even 20 years ago, and he perceives the very same potential in Africa today. This is why he created Mysimax to inspire and fight against knowledge poverty.

Enthusiasm of local partners

Overall, partner feedback have been very good, and interest in Mysimax’s project is very high.

The project already closed several deals with schools in different countries including AFRAM in Gabon, which represents more than 7,000 students who will soon be using this technology.

How can Mysimax keep growing in Africa?

“So far, we have been self-funded. It was a good experience, because it gave us the freedom and flexibility we wanted to launch our forward thinking concept. Now that we have received interest from schools and government alike, we want to push the envelope. There is so much we can do in terms of knowledge input and sharing, health and safety programmes and so on. Raising funds will enable us to bring different actors into our company and widen our reach,” says JX Paulin.

While Afro-sceptics are wondering whether it’s the right time to enter the African market, many progressive businessmen, as Paulin, are already settling in the developing market. It is apparent that there are still some obstacles, which make it complicated to enter the market, including slowness and unwillingness of government authorities to recognise the need for technology and innovation. However, if foreign innovative companies manage to enter the market, the outcome will be rewarding for both countries’ development and entrepreneurs.

Source: howwemadeitinafrica