SUSTAINABLE ECONOMIC DEVELOPMENT
Trade Facilitation Office Canada (TFOC) confronts the challenge of global poverty by promoting sustainable economic development through export information, advice and contact. TFOC facilitates access to the Canadian marketplace and share Canadian trade expertise for the benefit of smaller male and female owned/managed exporters from developing countries and for the men and women they employ. Among other things, they provide comprehensive online trade information service, guide on exporting to Canada, market information papers, webinars, newsletters, trade news and events. Steven Tipman, Executive Director with TFOC discusses this at length. See full presentation here
NIGERIA’s CURRENCY CRISIS
The boom bust cycle within the oil sector is causing unprecedented currency crisis in Nigeria. Uncertainties in trade and exchange rate policies continue to impact the macroeconomy and household incomes. Citing limited productive capacity, government says real exchange rate depreciation will not help Nigeria’s exports and GDP growth. The monetary authorities continue to prop up the naira; this strategy is combined with blocking imports to protect dwindling foreign reserves. Investor appetite remains weak. Capital flight continues. The risk of devaluation for naira-denominated assets persists. Investors are non-committal. Recession looms. Can anything stop it from unravelling? Dr. Fred Olayele, President/Chief Economist with GEIA breaks it down. Read full analysis here.
BUSINESS IN ZAMBIA AND ZIMBABWE
Ainos Ngadya, Senior Partner & CEO with ANF Capital Partners Inc. explains ANF’s renewable energy and infrastructure projects in Zambia and Zimbabwe. He says the investment climate is great, incentives for investors are commendable and prospects are quite strong. Similar to Zambia, Zimbabwe presents the most upside potential in the region. Zimbabwe, according to him, has local citizenship participation laws that need to be understood by investors. He advises that a deep understanding of the African business culture, including labor culture must be priced in on all projects and deals. Mr. Ngadya also comments on why hiring African skillsets in Diaspora is quite strategic since they generally understand both worlds. He concludes that the business risk is there, but most is just “perceived risk”. Read full interview here
RECENT ECONOMIC CLIMATE
The CEO of the Nigerian Economic Summit Group, Mr. ‘Laoye Jaiyeola, posits that the economic climate in Nigeria has been challenging since 2014 but is a common phenomenon across the globe. According to him, slow growth and volatility is the name of the game this period. Nigeria recognizes that diversity, efficient productivity and innovative business solutions are required to navigate the current downturn. Therefore on going reforms are all geared towards attracting foreign capital into the economy. In spite of the current situation, Nigeria’s fundamentals are good and as such the medium to long term outlook remain bright. Full presentation is available here.
KAINJI REFINERY IN WEST AFRICA
In this interview with Ako Ufodike, President, Kainji Resources, he explains that when he relocated to Canada nearly 20 years ago, it was on the back of a strong desire to apply himself within a more stable and structured environment. A failing business in Africa at the time added to his resolve and taught him many lessons he still applies to this day. At the time, he always thought that at some point, he would go back to explore the opportunities. Mr. Ufodike kept abreast of African news, and its markets, and tried to visit at least once every couple of years. The changing African narrative, perhaps over the last decade or so, reinforced his desire to apply himself in a way that can help develop the region in a meaningful way. Currently busy with Kainji Refinery, a greenfield modular refinery project based in West Africa, he says when completed, it will refine 24,000 barrels of crude oil a day. What’s more? Its product is primarily for local consumption. Kainji has attained a formal approval to construct license from the government of the country they are operating in and are currently wrapping up fund raising. They expect to start construction in the first half of 2017. Read full interview here.
In this 2015 presentation at the United States Association for Energy Economics conference in Pittsburgh, United States, Dr. Fred Olayele examines the issue of economic diversification from a Canada-US sub-national perspective. Economic diversification remains a recurring theme in public policy debates; it is popularly believed to be the cure to the “resource curse” challenge. The benefits of diversification, as well as the importance of key economic, demographic, geographic and institutional factors that explain it, remain widely acknowledged. While some see economic diversification as a long-term economic growth strategy that can help mitigate unforeseen problems in the event of structural economic changes, such as the decline of a region’s resource base, others argue that diversification is a costly and unnecessary form of government intervention. Explaining the specific reasons why diversification helps some economies to succeed where others fail remains a mirage. Most empirical investigations of the relationship between economic growth and diversification provide inconclusive evidence. He hopes African countries can draw important policy lessons. Click here to access full presentation.
ARMORED VEHICLES FOR SAFETY AND SECURITY
INKAS Group of Companies is a world-leading security company headquartered in Toronto, Canada. For more than 20 years, INKAS has been offering a wide range of security services from armored vehicles and safes manufacturing to armed transportation services, cash-in-transit and vault depositary. INKAS Armored Vehicle Manufacturing produces armored vehicles for government authorities, financial institutions, law enforcement agencies, corporate entities, and individuals all over the world. In this 2015 presentation to stakeholders at a GEIA-organized conference in Ottawa, Rtd. Major-General David Fraser, INKA’s Chief Operating Officer, explains how the company’s wide range of armored vehicles, including executive SUVs, luxury sedans, special purpose military vehicles, personnel carriers, cash-in-transit vehicles are deployed to guarantee safety and security. Click here to access full presentation.
CONNECTING THE NEXT FIVE BILLION
In this 2015 presentation to stakeholders at a GEIA-organized conference in Ottawa, Derek Kopke, Executive Vice President, International Business Development with DataWind posits that access to the internet is a fundamental human right; he agrees though that affordability is key. He recommends that to level the playing field, low-cost internet-enabled computers, low-cost recharging options and building the hardware domestically are priorities, among other things. Click here to access full presentation.
INVESTMENT PROMOTION: NIGERIA UNDER FOCUS
Ladi Katagum, Director, Nigerian Investment Promotion Commission discusses the Investment Policy of the Federal Government of Nigeria, housed in the Nigerian Investment Promotion Commission Act, established by Act of Parliament No. 16 of 1995. Among others, she explains that the Act coordinates, promotes and facilitates domestic and foreign investments in Nigeria, in addition to developing investment friendly policies that are globally competitive. Click here to access full presentation.
PUBLIC SECTOR FINANCIAL MANAGEMENT
Dr. Fred Olayele, President/Chief Economist with the Global Economic Institute delivers this presentation titled, “The Defining Characteristics of Financial Management in the Public Sector” at the Johnson Shoyama Graduate School of Public Policy. He buttresses why capital budgeting is one of the most important decisions made by a public financial manager. He uses a wide variety of case studies to explain why financial managers cannot rely solely on market-pricing mechanisms to determine feasibility for public sector projects. Click here to access full presentation.