South Africa Vision

The government and business partnership to resolve South Africa’s challenges is beginning to bear fruit, although much more needs to be done.

This is according to a statement released by the Presidency and Business for South Africa.

The partnership between the two parties was established last year in a bid to work together to resolve the question of inclusive and economic growth.

The collaboration has targeted three areas for particular interest, including energy, transport and logistics, and crime and corruption.

PHOTOS | President Ramaphosa meets with business leaders at the Union Buildings

Energy

In a joint statement following a meeting between government and business, which was led by President Cyril Ramaphosa on Tuesday, the Presidency and Business for South Africa noted that the energy workstream, in particular, has achieved significant progress.

‘The energy workstream was reported to have had the most impact, achieving a dramatic reduction in load shedding, in collaboration with Eskom (over 140
days without load shedding so far this year), and significant grid capacity recovery (with more than 6 gigawatts of new energy generation added) through investment in additional technical support and capacitation from 57 companies investing over 9 000 hours at five power stations. The energy availability factor is currently tracking above 60% vs 54% in 2023.

READ | A further 2 500MW expected back ‘by the end of August’

‘However, we still face multiple challenges, including rapidly rising electricity costs, unsustainable municipal utilities, complex market reform, a constrained grid with delayed expansion, and stalling investment in new generation.

‘Significant investment will be required for the energy sector reform over the next five to 10 years, and there was strong consensus that it is critical to pave the way now to address the challenges.

“Business, Eskom and the Presidency have agreed that the priorities of the National Energy Crisis Committee should include a focus on transmission, market reform, m
unicipal utilities and new energy generation,’ the statement read.

WATCH | Government, business meet with the President

Transport and logistics

In the statement, the two parties acknowledged that although the two workstreams have recorded successes, this was not ‘as quickly or extensively as anticipated’.

‘Business has provided significant technical support and resources to Transnet Freight Rail, including procurement and operations expertise, and port maintenance support for Transnet Port Terminals. The Transnet Board and management team are making progress in implementing the Transnet recovery plan.

‘Despite the significant efforts by the partners, there is broad acknowledgment that Transnet requires substantial interventions to improve performance to meet the needs of its customers and the market demand necessary for sustainable economic growth,’ the statement read.

READ | Transnet forging ahead with reforms

An agreement was reached to move quickly to implement reforms and meet Freight Logistics Roa
dmap deadlines.

‘The meeting agreed that the rapid implementation of structural reforms and strict adherence to the Freight Logistics Roadmap deadlines are crucial to facilitate the participation of and investment by the private sector to help address our national logistics challenges.

‘This is crucial to ensure that our commodities and manufactured products can be competitively sold into the local market and exported to meet demand. Resolving these issues will promote job retention and job creation,’ the joint statement said.

Crime and corruption

Critical to South Africa’s growth and investment prospects is removal from the Financial Action Task Force (FATF) grey list.

When the FATF grey listed South Africa at its February 2023 Plenary meetings, it adopted a jointly agreed Action Plan containing 22 Action Items linked to the eight strategic deficiencies identified in the country’s Anti-Money Laundering and the Combating of the Financing of Terrorism (AML/CFT) regime.

READ | SA continues work to exit gr
ey list

The joint statement said the meeting agreed that an ‘immediate joint imperative” is to support South Africa’s removal from the list.

‘Key to this is demonstrating the law enforcement agencies’ intent and ability to successfully prosecute complex crime and corruption cases, and recover assets. Business is providing specialised skills at arm’s length to support this objective.

“The promulgation of the NPA Amendment Act is key to bolstering the ability of the IDAC [Investigating Directorate Against Corruption] to effectively deliver on its mandate,’ the statement said.

On job creation, the meeting acknowledged that growing the economy is imperative to facilitate employment opportunities.

‘For now, unlocking a few key policy, regulatory and funding bottlenecks could accelerate existing short-term interventions across four areas, including new work opportunities in tourism and global business services; skilling that creates new jobs (particularly in digital skills); providing additional public sector
first loss funding to crowd in private sector capital to increase affordable debt available for SMMEs, and institutionalising, expanding and strengthening the SAYouth platform to facilitate access to opportunities for young people,’ the joint statement said.

Source : South African Government News Agency

Mr Ajayi Audu banks with the 37 year-old Unity Bank Plc and has been a customer for the past 19 years since he started work in the civil service.

The Central Bank of Nigeria (CBN) recently announced the bank’s merger with Providus Bank Ltd.

In a statement, the CBN said the merger is contingent on its financial support, adding that the fund would be instrumental in addressing Unity Bank’s total obligations to the Central Bank and other stakeholders.

‘It is unequivocal to state that the CBN’s action is in accordance with the provisions of Section 42 (2) of the CBN Act, 2007. This arrangement is crucial for the financial health and operational stability of the post-merger organisation,’ it said.

What came to the mind of Audu was the security of his money in this bank, taking into cognisance the recent liquidation of the Heritage Bank by the CBN.

”I hear about the merger but I don’t understand what this means to my deposits with Unity Bank. I would not like to hear stories or face the hardship involved in s
uch events.

”Many people have started withdrawing their hard-earned monies from the bank for fear of uncertainties. I am just waiting for my salary to drop and go and collect,” he told the News Agency of Nigeria (NAN).

Abigail Jimoh is another customer of Unity Bank. She has been banking with the bank for upwards of 15 years. The same fear of losing her deposit is high in her mind.

‘I can’t afford my money to go to waste. The experience of most Nigerian bank customers that I hear is not palatable, to say the least.

‘I pray something tangible will be done to safeguard our deposit,’ she said.

In light of the economic challenges and headwinds occasioned by external and domestic shocks, the CBN has mandated a recapitalisation programme for banks to strengthen their asset base.

The apex bank also hopes that the measure would support economic growth in line with the Federal Government’s target of achieving a 1 trillion-dollar economy by 2030.

The CBN believes that the capital market will play a major role
in facilitating the recapitalisation programme as the banks are expected to leverage the market to raise the needed funds and engage in various forms of business combinations.

The fear of any change in the banking system of Nigeria is a common decimal among customers.

Such a fear arose from how to get back their money, the long process of getting it back and also the amount to be refunded in the long run.

This fear, undoubtedly, is due to a lack of proper understanding among the majority of customers of financial institutions in the country.

They have little understanding of when a bank is at risk, what will happen if a bank is declared at risk, how they will get back their money, and from whom.

The Nigerian Deposit Insurance Corporation (NDIC) is a government entity that deals with the stability of depositors’ money in financial institutions in the country.

On its website, the NDIC stated that the Deposit Insurance Scheme (DIS) is one of its major activities designed as a risk minimizer.

This guarante
es the payment of deposits up to the maximum limit in accordance with its statute in the event of failure of an insured financial institution.

‘The Corporation supervises banks to protect depositors; foster monetary stability; promote an effective and efficient payment system; and promote competition and innovation in the banking system.

‘Banking supervision is an essential element of the Nigeria deposit insurance scheme as it seeks to reduce the potential risk of failure and ensures the unsafe and unsound banking practices do not go unchecked.’

In its 2006 Act and the 2023 revised Act, the NDIC is charged with providing insurance for all deposit liabilities of licensed banks and such other financial institutions operating in Nigeria within the meaning of Sections 16 and 20 of its Act.

This is with a view to engendering confidence in the Nigerian banking system.

It is also to assist insured institutions in the interest of depositors, in case of imminent or actual financial difficulties of banks particula
rly where suspension of payments is threatened, and avoiding damage to public confidence in the banking system.

Similarly, the NDIC is to guarantee payments to depositors, in case of imminent or actual suspension of payments by insured institutions up to the maximum as provided for in section 20 of its Act.

Mr Mukhial Abiru, Chairman, Senate Committee on Banking, Insurance and other Financial Institutions recently underscored the relevance of NDIC in solidifying depositors’ confidence in the banking industry.

‘To that extent, the role of the NDIC is very important”, Abiru said at a retreat recently.

The event drew participants from lawmakers and officials of NDIC and aimed at strengthening the legislative framework for deposit insurance and ensuring the continued stability of the Nigerian banking system.

NDIC is aware of the enormity of the assignment, which includes recapitalisation, as acknowledged by its deputy director, Communications and Public Affairs Department, Hajiya Hawwa’u Gambo at the 45th e
dition of the Kaduna International Trade Fair.

‘Indeed, our priority at NDIC is the protection of Nigerian depositors.

‘We are dedicated to safeguarding depositors’ funds from the adverse effects of bank failure and complementing the Central Bank of Nigeria (CBN) in effectively supervising insured deposit-taking financial institutions and formulating sound banking policies”, she said.

According to the European Central Bank, the benefits of recapitalisation ‘are related to an increase in bank resilience to adverse shocks.

‘Higher capitalisation allows banks to withstand negative shocks and moderates the reduction of credit to the real economy that ensues in adverse circumstances’.

According to Quantive, a Strategy Execution Platform, recapitalisation involves the partial sale of a company to private equity firms or venture capitalists.

The business sale could be of a minority stake or even a massive 70 to 80 per cent stake, depending on the purpose behind it.

‘Usually, business owners aim for a success
ful exit, a smooth business transition from one generation to another, or a comfortable retirement.

”Recapitalisation helps business owners get to the next level in their journey with the company.’

In light of the above, it is expedient to apply the right dose of information on President Bola Tinubu-led administration’s efforts to improve the efficiency and effectiveness of the banking system.

Such an information toolkit should also involve how banking reforms would affect ordinary customers, and to allay their fears.

In the case of the Heritage Bank liquidation, the NDIC has said that it will repay customers from the yearly premium paid by the bank.

For deposits beyond the ?5 million threshold the corporation said it would assess the bank’s assets and sell whatever it can, as well as recover the bank loans and sell whatever investments the bank has.

Effective communication in times of change will ensure that everyone is well-informed about the upcoming changes.

The communication should also be strate
gic and bespoke; tailored to each specific audience, addressing their concerns, and providing a clear understanding of why the change is happening.

The CBN and NDIC need to up their game in the area of information on the impact of recent calls for bank recapitalisation in the country.

The citizens face daunting challenges in their daily lives, which can be resolved through proper sensitisation of government policies and programmes by relevant stakeholders charged with such responsibilities.

Like the Hausa people will say ”Kwanchiyar hankali yafi zama dan Sarki” (Having peace of mind is better than being a Prince).

Source : News Agency of Nigeria

Instant games like Aviator are becoming very popular among gamblers in today’s fast-moving world. Aviator, an exciting crash game launched by the innovative developer Spribe in January 2019, is where players place bets before a plane flies on the screen. The game has a high RTP of 97%, and it also has provably fair technology as some of its features that make the gaming experience interesting. To begin with Aviator game, here are three captivating aspects:

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Understanding the Aviator Game Mechanics

Basic Gameplay and Rules

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Top Online Casinos to Play Aviator

Casino Selection Criteria

When choosing an online casino for playing Aviator, consider:

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Recommended Casinos for South African Players

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In summary, Aviator is a fun-filled game where luck meets strategy. Therefore, understanding its mechanics, using effective strategies, and choosing the right casino will enhance player experience as well as their chances of winning.

Source : News Agency of N
igeria

The Governing Council of Usmanu Danfodiyo University, Sokoto (UDUS), has announced the appointment of Prof. Bashir Garba as the new Vice-Chancellor of the University.

The Pro-Chancellor and Chairman of Governing Council, UDUS, Prof. Attahiru Jega, announced this in a statement obtained by News Agency of Nigeria (NAN) in Abuja on Wednesday

Jega said that Garba’s appointment was approved at the council’s 168 (Special) meeting held on Wednesday.

The appointment, according to Jega is for a single term of five years and will take effect from Sept. 1.

Garba, born on June 6, 1966, is a staff of the university on leave of absence to Sokoto State University.

He attended University of Sokoto (now UDUS) and University of Jos where he obtained Bachelor of Science (B.Sc) in Applied Chemistry and Masters Degree in Applied Organic Chemistry in 1988 and 1994 respectively.

He thereafter obtained a doctorate in Applied Chemistry at UDUS in 1998.

Garba, an indigene of Sokoto-South Local Government Area of Sokoto State, s
tarted his working career as a Graduate Assistant at the university in 1989 ane rose through the ranks and became a professor in 2002.

During the period, Garba held some administrative positions within and outside the university, including Vice- Chancellor of Sokoto State University from May 2022 to date.

He was also a commissioner and member of the Sokoto State Executive Council from June 2019 to January 2022; Secretary to Sokoto State Government from September, 2015 to May 2019.

He was also a Rector, Polytechnic of Sokoto State from August 2012 to September 2015.

Garba was a Director at Energy Commission of Nigeria (ECN) from April 2006 to March, 2010; and Director, Sokoto Energy Research Centre (SERC) from August 1999 to 2005.

He was at various times chairman and/or member of many committees within and outside the university.

Source : News Agency of Nigeria

The Federal Capital Territory Administration (FCTA), on Wednesday began the distribution of 900 metric tonnes of fertiliser free to farmers in the territory.

The FCT Minister of State, Dr Mariya Mahmoud, said at the inauguration of the exercise in Abuja, that the input was donated by the Central Bank of Nigeria (CBN).

Mahmoud said that the fertiliser, received through the Federal Ministry of Agriculture and Food Security, serves as a strategic response to the global challenge of food shortages.

She assured that the Agriculture and Rural Development Secretariat, FCTA, has fully adhered to the distribution guidelines outlined by the CBN which includes the setting up of a broad-based ad-hoc committee to strategise and come up with distribution plans.

This, according to her, will ensure the fertilisers reach the intended beneficiaries – the dedicated and hardworking farmers in the FCT.

‘The FCT Administration is very much aware of the challenges faced by the populace regarding the high cost of food items and
has been proactively implementing measures to address the situation.

‘As you may recall, within the past two months, we have undertaken several initiatives to enhance food production.

‘In collaboration with the World Bank and Islamic Development Bank, we achieved a significant milestone by providing farmers with a comprehensive range of agricultural inputs.’

The minister noted that while it was imperative to recognize that agricultural inputs were vital for enhancing production, knowledge of good agronomic practices was equally essential.

This, she said, was why the FCT Administration has consistently invested in knowledge acquisition over the years.

The minister reaffirmed the unwavering commitment of the FCT Administration to the welfare and prosperity of the good people of Abuja.

She added that the FCT Minister, Mr Nyesom Wike was dedicated and focused on transforming the FCT into a most preferred destination for investors.

Also, Mr Lawan Geidam, Mandate Secretary, Agriculture and Rural Development
Secretariat, said that the intervention reaffirmed the commitment of President Bola Tinubu to revitalise the agricultural sector.

Geidam said that the distribution committee was made up of farmers, civil organisations, faith-based organisations, Area Council authorities, traditional institutions, and government agencies, in line with the CBN guidelines.

‘We are optimistic that the fertilisers will yield a remarkable outcome, culminating in a bumper harvest this year, thereby enhancing food availability, improved nutrition, economic growth, and overall well-being of FCT residents,’ he said.

The Permanent Secretary of the Secretariat, Mrs Grace Adayilo, said that the secretariat had put measures in place to ensure that the fertiliser did not end up in the market.

Adayilo specifically said, ‘Any fertiliser that ended up in the market, ‘Holy Ghost Fire’, meaning the holy spirit would punish the person who took the fertiliser to the market to sell.

On his part, Mr Ifraimu Dauda, Chairman, All Farmers Associat
ion of Nigeria, FCT Chapter, commended the FCTA and the CBN for the gesture.

According to him, fertiliser is at the heart of agricultural production, yet its access remains the greatest challenge to farmers.

He advised the government to be wary of social media farmers and deal directly with the real farmers in communities.

He equally urged the government to support irrigation farming to strengthen dry season farming in the FCT.

Source : News Agency of Nigeria

As the country observes women’s month, the South African Police Service (SAPS) joins the nation in celebrating its women in blue who are breaking barriers and blazing a path in their daily duties towards making South Africa a much safer and better place to live in.

In a statement on Monday, the SAPS introduced the nation to the Divisional Commissioner for Visible Policing and Operations, Lieutenant General Maropeng Johanna Mamotheti.

Mamotheti has 36 years of service having joined the organisation in 1987 as a student constable.

She was promoted to the rank of a Lieutenant General as a Divisional Commissioner for Visible Policing and Operations on 01 March 2024 where she is responsible for providing strategic leadership and management to ensure effective combating of crime prevention. This is through the provision of visible policing and operation services.

She leads and manages more than 19 000 members who are responsible for visible policing, including Operational Response Services (ORS) units such as t
he Public Order Policing (POP) unit, Tactical Response Teams (TRT), Counter Assault Team(CAT) and the Special Task Force (STF).

The Border Policing Unit which is responsible for securing the country’s land, sea and airports also fall under her command.

The Mobile Operations Unit which is responsible for securing of precious metals and minerals also falls under her command.

Before she was promoted to this role this year, she served in various positions within the SAPS, including the Deputy Provincial Commissioner for Support Services in the Northern Cape and also served as the Component Head for Social Crime Prevention where she was responsible for enhancing partnership policing programmes.

She also served as the Component Head of Firearms, Liquor and Second-Hand Goods (FLASH) at Head Office.

Under her command, the component managed to reduce the backlog in firearm licensing and firearms amnesty applications by 94%.

In the 2021/2022 financial year, she oversaw the finalisation of more than 531 000 firear
ms related applications. The effective management of the amnesty applications reduced the number of illegal firearms in circulation in the country.

In this role, she has also overseen the destruction of more than 263 000 firearms that were voluntarily surrendered to the state and confiscated during crime combatting operations across the country.

‘The focus of our operations is to remove illegal firearms of our streets. We are seizing firearms on a weekly basis and our goal is to ensure we make the country a safer place to live in. Firearms are the most preferred weapon when violent crime is committed and that is why we must intensify our operations in this regard,’ she said.

Mamotheti holds a Diploma in Policing, a BTech degree in Policing and a Bachelor of Commerce in Human Resource Management.

Source: South African Government News Agency