Umahi flags off demolition for coastal highway project


The Minister of Works, Sen. Dave Umahi, on Saturday in Lagos, flagged off demolition on the right-of-way of the Lagos-Calabar Coastal Highway, beginning with the Mami Chula Beach Lifestyle.

Umahi began the demolition after he inspected kilometre 13, 16 and 20, to ensure the most economical and viable way to access the coastal roads without much damage.

He noted that the demolition was necessary since the structure was located on Federal Government’s right-of-way.

He said that a number of structures would be affected by the demolition, adding that compensation would be provided.

Umahi said, ‘So, with the utmost fear of God, gratitude to God Almighty and the commitment to President Bola Tinubu’s Renewed Hope Agenda in our infrastructural development agenda in particular, I wish to flag off this demolition.

‘It’s in a right-of-way within the coastal corridor which is legitimate right of way of the federal government.

‘Before the flag-off of the demolition, I graciously increased the grace period by another
seven days and yet another four days and here we are because the project stopped because of lack of demolition.

‘And I want to commend the likes of Bolaji, incidentally from kilometre zero to four from what I’m seeing, he is the only one that is majorly affected. That’s the only infrastructure I can see that is affected.’

The minister, who acknowledged that some people were opposed to the project, insisted that it was necessary for economic development.

He assured those affected by the demolition that they would be adequately compensated, adding that documentation would start between May 2 and May 3.

Umahi also assured that he would be available throughout the week to address any confirmation or payment issues related to the demolition.

Responding, the Chief Executive Officer, Mami Chula Beach, Mr Bolaji Ariyo, acknowledged the project’s necessity for development, even when it causes inconvenience for a small number of people.

He said, ‘We all hope this is the renewed hope that we all clamoured for, dur
ing the campaign, we all prayed for development in Nigeria.

‘And some of us have so much belief in Mr President that he will do it well, and this is an opportunity.

‘For example, I’m a Lagosian and this is also a development that has been set down for a very long time. It is good that Mr President is doing that right now.

‘It is unfortunate. We all prayed for development, and in every development, some people pay the price and sacrifice for the development.

‘You might be wondering why I’m talking like this, maybe because I was also on the other side before, so, I understand what governance means.

‘I understand when a government is promising to make life easy for the entire Nigerians.

‘Some of us are affected, no doubt about it, but those of us affected are not up to 0.1% of the millions of people that will enjoy the coastal roads.

‘That’s why people like me have taken it to heart to also support Mr President and the honourable minister to ensure that this road comes to life.’

Source: News Agency of N
igeria

Reflecting on 30 years of democratic gains

_:While South Africa’s democracy is young, the significant strides made by government to improve the the lives of its people since 1994, cannot be denied.

Marking the historic milestone of reaching 30 years of democracy, President Cyril Ramaphosa said South Africans should not let detractors, whether they are abroad or in the country to diminish what government has achieved in 1994 and in the years that have followed.

‘Over the course of three centuries, the dignity of the black inhabitants of this land had been deliberately and cruelly denied, first by colonialism and then by apartheid. Millions of black South Africans – African, coloured and Indian – were at the mercy of laws and practices that were enforced to serve the interests of a white minority.

‘Their land was taken, their labour was exploited, their prospects were stunted,’ the President said on Saturday in Pretoria.

On 27 April 1994, South Africa changed forever as millions of people went to the polls to cast their vote in the first democratic
elections.

‘Exactly thirty years ago on this day, freedom’s bell rang across our great land. On that day, as we cast our votes for the first time, a great heaviness lifted from our shoulders. Our shackles had been cast off. The weight of centuries of oppression was no longer holding us down,’ the President said at the commemoration of Freedom Day held at the Union Buildings.

Today, thirty years later, the people of South Africa gathered as a united people of all races at the same Union Buildings that once symbolised pain and oppression.

‘The progress that has been made in a relatively short period of thirty years is something of which we can and should all be proud. We have established a society founded on the rule of law and the premise of equality before the law.

‘We have built democratic institutions and have rid our statute books of racist and sexist apartheid laws. As the democratic state, we have worked to restore the dignity of all the South African people, particularly the dispossessed, the margin
alised and the vulnerable,’ the President said.

To achieve this, government has sought to implement policies and programmes that advance equality and human dignity in areas like economic empowerment, education, health care, social support, and the provision of basic services.

Addressing challenges

‘Although there have been setbacks, although we have faced challenges both beyond our borders and at home, our economy has tripled in size since 1994. While unemployment still remains our greatest and most pressing challenge, the number of South Africans in employment increased from eight million in 1994 to over 16.7 million now.

‘Through affirmative action, broad-based black economic empowerment, worker share ownership programmes and progressive labour laws, we have brought about transformative change in South Africa’s boardrooms, in workplaces and on the shop floor,’ the first citizen said.

In South Africa today, more than half a million workers are part-owners of the companies they work for. This is about on
e in every 20 workers in the formal private sector.

‘The proportion of black people in senior management position in both government and business has increased many times over. Today, our social development system benefits all, providing vital support to the poor and vulnerable, women and children.

‘The democratic state has, through its health care programmes, brought down child mortality, improved life expectancy and made important strides towards overcoming the HIV/Aids pandemic. Working together, we have opened the doors of learning and culture.

‘We have invested in improving and building new schools, colleges and two new universities. We have vastly increased the number of matriculants, graduates and young skilled people. Although we have much further to go, we have worked to ensure that poverty is no barrier to a decent education,’ the President said.

Government has also introduced no-fee schools and the school feeding programme. In addition, it has expanded funding to students from poor and working
class families and are now focused on early childhood development.

Equality

‘In South Africa today, our Bill of Rights is the foundation for a society rooted in equality regardless of race, gender, sex or sexual orientation. Women in South Africa today enjoy full equality before the law.

‘As a society, we have made significant advances in giving effect to the rights of women. We have worked together to ensure that women are empowered in the home, in communities, in society and in the economy. [Women] have fought for equal representation in positions of responsibility in the state, in academia, in business, in sport, in culture,’ the President said.

Close to half of the Members of Parliament, judges and magistrates are women. More than 60 % of public servants are women.

‘In South Africa today, girls learn alongside boys in our primary and secondary schools and receive equal education. South Africa is a beacon of hope for the protections it affords to the LGBTQI+ [lesbian, gay, bisexual, transgender, queer
/questioning and intersex] community. Although we have much further to go, we have worked to overcome prejudice throughout society.

‘We have sought to affirm the rights and improve the circumstances of persons with disabilities. We are still working to remove the barriers that prevent persons with disabilities from realising their full potential and living lives of comfort, security and material well-being,’ he said.

Progress

Since the advent of democracy, government has pursued land reform, distributing millions of hectares of land to those who had been forcibly dispossessed and providing security of tenure to many others who had lived on the land for generations.

‘We have built houses, clinics, hospitals, roads and bridges. We have brought electricity, water and sanitation into millions of homes.

‘All those who cast their vote for a better South Africa in 1994 laid the foundation for a democracy that enhanced South Africa’s standing in the international community and opened up opportunities for engagem
ent and cooperation,’ the President said.

As a democratic country, the new South Africa was able to build alliances, negotiate trade agreements and participate in international organisations to advance the interests of its people.

Various sectors of society attended the celebrations including musicians Yvonne Chaka Chaka, PJ Powers as well as Ministers and Gauteng Premier Panyaza Lesufi. Lesufi joined the President in dancing to the tunes of Grammy Award winners Ladysmith Black Mambazo who entertained the crowd at the festivities.

Source: South African Government News Agency

SA students to participate in solar panel programme in India

Twenty-two female Technical and Vocational Education and Training (TVET) engineering students are set to participate in a solar panel manufacturing learning programme in India.

The Minister of Women, Youth and Persons with Disabilities, Dr Nkosazana Dlamini Zuma in partnership with the Energy and Water Sector Education and Training Authority (EWSETA), briefed the media on the women’s participation in the programme on Friday.

The 22 TVET college engineering students hail from the Limpopo, North West and Free State provinces.

‘Emanating from the 2023 South Africa chairship of BRICS [Brazil, Russia, India, China and South Africa], the Solar Technology Training Programme for women in South Africa is one of the resolutions from the BRICS Women in Business meeting that calls for women to lead community initiatives and take part in resolving the energy crisis in South Africa particularly in rural areas,’ said the Department of Women, Youth and Persons with Disabilities (DWYPD) in a statement.

‘Access to electric
ity should always be easily available given the important role it plays in many aspects of human and wellbeing. It is an essential service and governments must make societies function better through the provision of this kind of basic [service],’ said Minister Dlamini Zuma.

The programme is expected to provide theoretical and practical skills in solar panel manufacturing and installation.

The learnership programmed is supported by key stakeholders such as the Department of Mineral Resources and Energy, the EWSETA, the Council for Scientific and Industrial Research (CSIR) and the National Youth Development Agency (NYDA).

The DWYPD said that starting and operating a solar business in South Africa with solar products, from panels and batteries to solar-powered appliances, can be a lucrative venture.

‘The DWYPD in partnership with the EWSETA will continue to engage stakeholders such as the Department of Trade, Industry and Competition, Department of Small Business Development to open windows of opportunities
to the female learners to venture into business when they return to South Africa in August,’ said the department.

The programme is set to start on 1 May 2024.

Source: South African Government News Agency

Celebrating freedom in language

With South Africa today commemorating Freedom Day, the Pan South African Language Board (PanSALB) has highlighted the importance of individuals being able to express themselves in languages they understand.

‘Today as we celebrate this remarkable milestone, it is essential to recognize that for democracy to flourish, linguistic diversity must be valued as a reliable guide towards the future. Engaging people in a language they understand is critical for genuine participation in democracy,’ Chief Executive Officer of the PanSALB, Lance Schultz said on Saturday.

On 27 April 1994, South Africa changed forever as millions of people went to the polls to cast their vote in the first democratic elections.

Schultz’s comments come as President Cyril Ramaphosa led the 2024 Freedom Day national celebrations at the Union Buildings in Pretoria.

‘As we mark three decades since the transition from apartheid to democracy, it is worth celebrating the incredible progress we’ve made in recognizing and promoting linguistic div
ersity,’ said the CEO.

He added that South Africa’s expansion from two official languages during the apartheid era to 12 in the new dispensation is a restatement to the great strides that have been made in safeguarding language rights.

‘There is no doubt that one of the key aspects of democracy is engaging and communicating with people in languages that they understand and for the past 30 years, the right to use one’s own language has been protected,’ said Schultz.

The PanSALB is entrusted with the Constitutional responsibility to ensure that all official languages enjoy priority of esteem and elevate the status of indigenous languages to be recognised as languages of science, technology, and business.

‘Furthermore, it is PanSALB’s duty, within the socio-political system of South Africa to promote greater democratic participation by creating an environment where people engage in discussions over linguistic authority, knowledge production and self-determination through their use of language.’

Celebrated U
nder the theme: ’30 Years of Democracy, Partnership, and Growth,’ this year’s Freedom Month celebrations hold special significance as they also coincide with the 28th anniversary of the enactment of the South African Constitution as the supreme law of the land.

Source: South African Government News Agency

Rakshit Choudhary : de directeur des opérations à co-PDG de Deriv

  • Rakshit Choudhary, promu co-PDG, collaborera avec le fondateur et PDG Jean-Yves Sireau
  • Deriv donne un coup de neuf à son modèle de leadership à l’approche de la célébration de son 25e anniversaire
Rakshit Choudhary : de directeur des opérations à co-PDG de Deriv

Rakshit Choudhary, co-CEO of Deriv

Rakshit Choudhary, co-PDG de Deriv

CYBERJAYA, Malaysia, 26 avr. 2024 (GLOBE NEWSWIRE) — À l’approche de son 25e anniversaire, qui est un moment marquant pour cette entreprise de trading en ligne, Deriv a annoncé la promotion de Rakshit Choudhary du poste de directeur des opérations (COO) à celui de co-Président-directeur général (co-PDG). Ce modèle de co-leadership permettra de tirer parti des différentes forces et des diverses approches des deux dirigeants.

Le choix d’un tel modèle n’a pas uniquement une visée stratégique pour Deriv. Il permet à l’organisation d’intégrer des points de vue divers et le travail d’équipe à la prise de décisions critiques, afin de maintenir l’agilité de l’entreprise. Ce double cadre de leadership contribuera également à créer un environnement où le respect réciproque et la responsabilité partagée constituent la norme, et où l’autonomie individuelle est équilibrée par une vision collective.

D’après Jean-Yves Sireau, fondateur et co-PDG de Deriv : « Rakshit a l’étoffe du leader qui comprend parfaitement la vision de Deriv. Sa promotion au poste de co-PDG va donc de soi. C’est comme cette synergie que l’on observe dans la programmation en binôme, cela améliore la prise de décision et l’alignement des objectifs. »

« Le 25e anniversaire de Deriv marque un moment de réflexion. Renouveler notre modèle de leadership nous permet de passer à la phase supérieure de l’activité de Deriv, qui est axée sur une expansion mondiale et un engagement plus profond avec des marchés diversifiés. Cette double approche de leadership permet à Deriv de rester innovant et de s’engager en faveur d’un excellent service client et de partenariats solides. »

Choudhary, qui est titulaire d’une maîtrise obtenue au Georgia Institute of Technology, a occupé depuis 2009 les postes de spécialiste de l’analyse quantitative, puis responsable du développement quantitatif et de la recherche à Deriv. Il a ensuite occupé le poste de responsable du développement de produits avant d’être promu directeur des opérations en 2018.

Rakshit Choudhary fait part de ses impressions : « Participer directement, ces 14 dernières années, à la croissance et à l’évolution incroyables de Deriv, qui est resté fidèle à sa mission consistant à rendre le trading accessible à tous et partout, fut un privilège inédit pour moi. Au cœur de cette mission se trouve la volonté de rester innovant, sûr et accessible. C’est avec plaisir que continuerai à développer les activités de Deriv à l’échelle mondiale aux côtés de Jean-Yves, afin d’accompagner l’entreprise au cours de ses 25 prochaines années de succès. »

Deriv est également passée à un modèle de co-directrice financière, Jennice Lourdsamy, précédemment responsable des comptes et des paiements, assumant un double rôle de leadership en tant que co-directrice financière aux côtés de Louise Wolf, l’actuelle directrice financière. Le co-leadership ne se limite pas aux postes de direction. Chez Deriv, elle s’étend à tous les niveaux de l’entreprise et cadre avec ses valeurs que sont l’intégrité, la compétence, l’orientation client et l’esprit d’équipe.

Deriv reste fidèle à ses principes d’excellence en matière de leadership, marqués par une vision claire, des approches axées sur les résultats, un apprentissage continu et une propension à l’action. Ces principes alimentent les opérations quotidiennes et sont essentiels à la réalisation de la mission de Deriv : rendre les solutions de trading de pointe accessibles dans le monde entier.

À propos de Deriv

Depuis 25 ans, Deriv s’attèle à rendre le trading en ligne accessible à tous et partout. Constituée aujourd’hui d’un réseau comptant plus de 2,5 millions de traders dans le monde, la société fournit une riche gamme de types de contrat. En outre, elle propose fièrement plus de 200 actifs sur des marchés populaires à partir de ses plateformes de trading primées et intuitives. Deriv a su développer une culture au sein de ses bureaux, comptant plus de 1 300 employés répartis dans le monde, qui célèbre les réalisations, encourage la croissance professionnelle et favorise le développement des talents, ce qui justifie son accréditation Platinum délivrée par Investors in People.

CONTACT PRESSE
[email protected]

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Deriv promotes Rakshit Choudhary from COO to co-CEO

Rakshit Choudhary promoted to co-CEO

Deriv promotes Rakshit Choudhary from COO to co-CEO

  • Rakshit Choudhary promoted to co-CEO, partnering with Founder and CEO Jean-Yves Sireau
  • Deriv refreshes its leadership model as it gets set to celebrate its 25th anniversary

    Rakshit Choudhary, co-CEO of Deriv

Rakshit Choudhary, co-CEO of Deriv

CYBERJAYA, Malaysia, April 26, 2024 (GLOBE NEWSWIRE) — In a significant move for the online trading company, as it approaches its 25th anniversary, Deriv has announced the promotion of Rakshit Choudhary from Chief Operating Officer (COO) to co-Chief Executive Officer (co-CEO). The co-CEO model will capitalise on the different strengths and diverse perspectives of both leaders.

Choosing the co-model is not just a strategic move for Deriv. It lets the organisation incorporate diverse viewpoints and teamwork into critical decision-making to keep the business agile. This double leadership framework also creates an environment where reciprocal respect and shared accountability are standard practices and balances individual autonomy with a collective vision.

Jean-Yves Sireau, Founder and co-CEO of Deriv, said: “Rakshit is a great leader with a deep understanding of Deriv’s business, so his move to co-CEO is a natural step forward for us. It is like the synergy you see in pair programming—improved decision-making and better alignment of goals.

“Deriv turning 25 is a moment for reflection. Refreshing our leadership model makes us well-positioned to take on the next phase of Deriv’s business, which is focused on expanding globally and engaging more deeply with diverse markets. This dual leadership approach helps keep Deriv innovative and committed to excellent customer service and strong partnerships.”

Choudhary, who holds a Master’s degree from Georgia Institute of Technology, joined Deriv in 2009 as a Quantitative Analyst and then Head of Quantitative Development & Research. His next role at Deriv was Head of Product Development before his promotion to COO in 2018.

Rakshit Choudhary shared his thoughts on his new role: “I have been lucky to be part of Deriv’s incredible growth and evolution for the last 14 years, witnessing firsthand its mission to make trading accessible to anyone, anywhere. At the centre of this is a focus on staying innovative, secure, and accessible. I look forward to continuing to grow Deriv’s business globally alongside Jean-Yves, as we take the company into another successful 25 years.”

Deriv has also transitioned to a co-CFO model with Jennice Lourdsamy, previously Head of Accounts and Payments taking a double leadership role as co-CFO alongside Louise Wolf, the current CFO. The co-leadership mindset does not end at the C-level. It is practised across Deriv at all levels, in line with the company’s values of integrity, competence, customer focus, and teamwork.

Deriv remains committed to its principles of leadership excellence, marked by clear vision, result-oriented approaches, continuous learning, and a bias for action. These principles are embedded in daily operations and are critical to achieving Deriv’s mission of making advanced trading solutions accessible worldwide.

About Deriv

For 25 years, Deriv has been committed to making online trading accessible to anyone, anywhere. Trusted by over 2.5 million traders worldwide, the company offers an expansive range of trade types and boasts over 200 assets across popular markets on its award-winning, intuitive trading platforms. With a workforce of more than 1,400 people globally, Deriv has cultivated an environment that celebrates achievements, encourages professional growth, and fosters talent development, which is reflected in its Platinum accreditation by Investors in People.

PRESS CONTACT
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