AFRICAN REPORT: POWER AFRICA INITIATIVE BY BARRACK OBAMA (A GROUND – BREAKING SUPPORT FOR AFRICA)

AFRICAN REPORT: POWER AFRICA INITIATIVE BY BARRACK OBAMA (A GROUND – BREAKING SUPPORT FOR AFRICA)
Addressing CEOs in Tanzania on 1 July, US President Barrack Obama said he saw Africa as the next major success story and with Power Africa he wanted the US to be part of that success.

The strategy is aimed at doubling access to electricity in Sub Saharan Africa. Thanking the African Development Bank for its partnership, as well as many companies that have stepped up with commitments, including some here,” President Obama said.
In his Address the AfDB president Donald Kaberuka said in Dar es Salaam, “We expect to allocate as much as US$3bn in the next five years... this will leverage at least four times more investments in the energy sector.”

Kaberuka noted that the bank’s interventions will include investment loans, reforms, advisory and guarantees. “Reforming the power sector is the key. The billions of dollars available for investment in the energy sector will translate into actual bulbs in people’s homes if state utilities run efficiently and effectively,” he added.

The main financial source for the bank’s assistance to the energy sector in the power initiative is the African Development Fund (ADF) and AfDB’s concessional window.

This indeed is a step in the right direction , we expect the “Power Africa Initiative” to bridge the gap of Abject Poverty in Africa

AFRICAN REPORT : A PRESIDENT IN THE EYE OF THE STORM

AFRICAN REPORT : A PRESIDENT IN THE EYE OF THE STORM

In a last minute twist , President Omar Al-Bashir has left Nigeria , following a massive call for his arrest based on charges of genocide in Darfur. President Al-Bashir who was billed to give an address at the AU SUMMIT, but was absent to give his presentation.

An human rights group on Monday filed a case in a Nigerian court to try to compel the government to arrest Mr Bashir and hand him over to the International Criminal Court (ICC) for this crime against humanity .
Mr Bashir was in Nigeria for an African Union-organised health summit due to end on Tuesday.
Sudan's embassy in Nigeria said he left because he had another engagement.
The ICC issued an arrest warrant for Mr Bashir in 2009, accusing him of committing genocide during the 10-year conflict in Sudan's Darfur region

 

 

Only time will tell, the evil that men do lives after them. He will definitely be apprehended and be made to face his judgment when the time comes

MAGICAL NOVAK DJOKOVIC REACHES SEMI-FINALS OF WIMBLEDON CUP

MAGICAL NOVAK DJOKOVIC REACHES SEMI-FINALS OF WIMBLEDON CUP
Former champion Djokovic will play Argentina's Juan Martin del Potro, who beat David Ferrer in straight sets, for a place in the final.
The Argentine recovered from a nasty fall in the first game of the match to advance to the last four and said he would "do my best" to be ready for the Djokovic match on Friday

Djokovic, who has yet to drop a set in the tournament, won 7-6 (7-5) 6-4 6-3.

Berdych, runner-up in 2010, broke twice in the second set to lead 3-0 but made too many mistakes at pivotal moments.
Congratulations to Novak Djokovic

METRO EXPRESS: CUSTOMS ACCUSED OF KILLING 30 YEAR OLD CAR DEALER

METRO EXPRESS: CUSTOMS ACCUSED OF KILLING 30 YEAR OLD CAR DEALER
The Lagos State Police Command has commenced investigations into the murder of a 30-year-old car dealer, Uririnke Onojorhoevwo, who was allegedly killed by officials of the Nigerian Customs Service in Iyana Ipaja area of the state.

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According to the police, the Delta State indigene was shot to death on June 16, 2013, after being pursued by customs men attached to the Federal Operation Unit.

This is so unfortunate , we hope justice will be done to the killers of Uririnike Onojorhoevwo in the shortest possible time.

BUSINESS REPORT: UAC OF NIGERIA HOLDS ITS ANNUAL GENERAL MEETING

BUSINESS REPORT: UAC OF NIGERIA HOLDS ITS ANNUAL GENERAL MEETING

The Shareholders of UAC of Nigeria Plc, (UAC), held its Annual General Meeting, (AGM), in Lagos, thereafter  approved the company’s payment of dividend valued at N2.56 billion or N1.60 per ordinary share of fifty kobo each. Additionally, the shareholders at the meeting , approved a bonus of 1 for every 5 ordinary shares.

UAC of Nigeria Plc recorded a 49 percent rise in operational profit to N11.5 billion for the financial year 2012 as Profit Before Taxation rose to N10.7 billion, from N6.96 billion in 2011. Profit After Taxation stood at N7.1 billion. In his remarks the Chairman, UAC of Nigeria Plc, Udoma U. Udoma, said at the annual general meeting that: “In spite of the constraints of the business environment in 2012, our company continued to sustain its performance driven by our resolve and capacity to manage the dynamics in our operating environment. This notwithstanding, our company recorded a commendable top-line growth of 17 percent from N59.6 billion in 2011 to N69.6 billion in 2012 resulting largely from the volume growth achieved in Grand Cereals, UAC Foods Limited and UACN Property Development Company Plc, (UPDC).”