Essential The Africa the Media Doesn't Tell You About

Premeditated

MANDE KANG
Joined
Apr 30, 2012
Messages
31,562
Reputation
2,575
Daps
92,538
Reppin
IMMIGRANT TETHERS
Can live band events bring the Nigerian industry up a level?
BENJAMIN LEBRAVE



moment-2-1024x683.jpg


With the burst of Afrobeats on to the international scene, much of the world now looks to the Nigerian music industry as the leading charge to establish a permanent African presence on the global pop landscape. In spite of these successes, several players in the local entertainment industry have identified bottlenecks in the Nigerian music scene, and are looking at ways to improve the business that surrounds it.

On a recent trip to Lagos for Gidi Music Festival, I was fortunate to have two separate yet overlapping conversations about the state of the Nigerian music industry. Chin Okeke and Teme Banigo, co-founders of Gidi Music Festival, explained to me that they are trying to raise the bar in terms of music performance in Nigeria. They are doing this by prioritizing live acts over pre-recorded and playback sets.

For those who don’t know, it is rare in much of Africa to see a festival line-up of both established and up and coming artists performing with a full band. On the contrary at Gidi Music Festival, this was a common occurrence. To add to their successes promoting live music through the festival, Chin and Teme’s longer term goals also include opening up mid-sized venues to expand the live music offerings in Nigeria.

Later on my trip I spoke to Jenny Tan, co-founder of Lagos Music Conference, a 2-day event taking place in Lagos this weekend. Jenny’s thoughts illustrate that the conference is sure to stir up a lot of debates in regards to how music is handled both in and outside of Nigeria.

DBanj-1024x683.jpg


The following interview excerpts contain highlights from these two discussions:

What’s the live music landscape in Nigeria today?

Chin: There’s a lack of infrastructure. What was here in the 1960s and 1970s has been entirely dilapidated. We’re now building up. Most events are sponsorship-driven. If you look at the event space, you’ve got weddings, normally one person foots the bill, or if it’s a branded event, the brand foots the bill. Technically, it doesn’t generate money.

What about venues?

Jenny: There are no medium size venues, so if you’re not an A-list artist, and want to go on a national tour, it’s really difficult. In Lagos you might just about find something, but outside Lagos it becomes really difficult, because either you are looking at stadiums or you’re looking at clubs.

Chin: There’s a lack of venues, we have hotels and tents, some can seat 2,000 people. There are no arenas, and this is an area we want to move into quickly. Right now we’re working on a site that we don’t own [for Gidi festival], but we want to look into acquiring land and building it up, developing the festival and around the festival.

What about promoters?

Jenny: There are also no promoters: not many artists pull a crowd; fans are not particularly loyal or specialized. Mainstream music does not have die-hard fans, so most artists alone are not able to pull a crowd. So if a promoter wants to put on a show, they have to bring the big guns, which you can only do with big sponsors.

Chin: We don’t have promoters in Nigeria because we don’t have enough venues. The cost of putting together a production at the venues we have can never make sense if you look at the numbers. Renting out Eko hotel costs US$80,000, it seats 3,000 people, so if you charge US$50, the numbers never add up.

Jenny: Our system is kind of broken. As a promoter, you look at the potential revenue you can make. You budget about 50% on production, and 30% is supposed to go to the artists. If you were to book talent and apply this formula, nobody can put together an event here, because the artists are too expensive to support the industry. There’s a real disconnect between money they expect and the money they would get without a sponsor.

So the only way to make it work is to do it with sponsors, and I imagine this approach has its own challenges?

Chin: Most brands don’t get it. Their idea of success and their criteria are so warped, because they pay attention to the wrong details. Some brands just want their logo on a flyer, they’re not about creating an experience. Then you have brands who are just interested in the 20 VIP tickets.

Teme: we have brands of consumer goods more interested in the red carpet aspect, instead of their customers’ experience.

Chin: for Heineken, all I had to do was show the brand manager a few things trending, she saw how much engagement had come from a simple event. They do more research, pay attention to the customer experience. Rather than just ask to have their logo everywhere.

Jenny: 90% of events are branded shows. The promoters are the sponsors, they mostly care about banners, VIP seats for the management teams, etc. Nobody cares about the experience.

Yemi-Alade-1-e1463689710280-683x1024.jpg


It sounds like this system doesn’t push the music or experience?

Jenny: There’s no curation of content. Recently a promoter tried to convince me to put so and so on the bill for an event I was organizing, “otherwise people won’t come”. As opposed to saying for instance, we just want the real hip hop fans, and you put together a hip hop line up. Then you’ve got the hip hop crowd. But what we see is a little bit of everything, and the die hard fans don’t want to go, because they will feel like they’re wasting their time and money.

The fact that people never have a great time, and never share a great experience with fellow fans, makes people not want to attend shows. Most shows start late, drag on til late, it makes it costly or dangerous to go home. It’s a mostly shytty experience to go to a large event. Sometimes they run out of drinks, or don’t even sell drinks altogether. Not to mention security guys treating every single people in attendance like they’re football hooligans, girls getting harassed or robbed. So the overall experience is… not great.

Chin: As long as there are people like us ready to up the game, it will continue to grow. Not as fast as we wish because there aren’t enough platforms, but it’s growing.

Teme: In Nigeria we have an environment where we copy success, so as we grow, people look at our model and try to mimic it. If you even look at what’s happened since we started Gidi Festival, we’ve literally seen other events now calling themselves festivals! So I feel that as our model becomes more and more successful, the industry will lean towards this model of live entertainment. I think artists will now be forced to have a live act that will be more attractive to promoters like us.

It sounds like you all agree that Nigeria needs good promoters and more variety in music?

Chin: The industry is evolving, people are watching, production’s gone a long way. But again there’s a lot of top line and very little bottom line. Everybody’s running with it, it looks great, but there’s very little underneath. Everything sounds the same, so the next wave will be stuff that sounds different, that’s what people will be buying into, just because the other stuff is not sticking anymore. Right now I think we just need a few more people to guide the industry, to be responsible for taking decisions, for deciding what is good or bad, what needs to be done. There’s a storm brewing, there’s the mainstream and there is the stream which influences the main. That’s the idea behind the Collective.

Teme: the audience can now be critical, once they’ve been exposed to better, they can be more critical.

Jenny: When I did parties in New York City, we wouldn’t promote on a Clear Channel radio, we’d promote through the scene. Same thing goes for the music at LMC festival. We’ll drill down social media analytics, we’ll find fans who commented on Kid X’s content, we’ll geotarget, then we’ll let these people know the artist is in town. With a line-up of 15 artists, if you find the fans, if each artist pulls 100 fans, then we can pull a crowd. We don’t need to speak to everybody.

What we are doing this weekend is pioneering in a totally different way, we have booked a non-commercial, non-mainstream line up, but it’s not aspiring artists, it’s good music, it’s curated to fit together. I’m now going to have to prove that it is in fact possible to pull a crowd specific to a genre, and prove that curation can help fill the space.

Can live band events bring the Nigerian music industry up a level?
Naijas better be careful how they approach this.

white culture vultures lurking like :whoo::ld::patrice:
 

The Odum of Ala Igbo

Hail Biafra!
Joined
Jan 16, 2014
Messages
17,969
Reputation
2,965
Daps
52,727
Reppin
The Republic of Biafra
aight. I got a little fulani ancestry but i dont consider myself fulani.
and half my family speaks wolof because it’s the informal national language spoken by virtually all senegalese as you might know but me I got zero wolof blood.

Why were you reluctant to admit your Fulani ancestry?

How Fulani herdsmen cut my head with machete - Oneyebuchie - Vanguard News
How Fulani herdsmen cut my head with machete – Oneyebuchie ON MAY 17, 201612:19 PMIN NEWSCOMMENTS 175 2 0 0 The Fulani herdsmen attacked at 6:00 am, just after morning prayers in Nimbo, an idyllic village in southeast Nigeria where farmers grow yams and pawpaws. Kingsley Oneyebuchie sits in a Nsukka hospital room on May 5, 2016, after surviving a Fulani herdsmen machete attack in Nsukka, southeast Nigeria. Over the past year Biafran independence protests have erupted across Nigeria’s south-east where many protesters where injured or killed during clashes with the Nigerian Police and army. At first the villagers thought it was a joke. The nomadic cattle rearers, who have clashed with farmers over grazing rights in central Nigeria for decades, had never come this far south. But then they saw 20 young men descend from the hills and emerge from the palm tree forest, shooting AK-47 assault rifles in the air and waving machetes. “We started hearing the sound of gunshots everywhere. They shot so many people,” Kingsley Oneyebuchie, a 31-year-old civil servant, told AFP. “They shot one of my brothers, they used a knife on my dad, they killed so many,” he said from his hospital bed in the nearby town of Nsukka, bare-chested and wearing only red athletic shorts. Oneyebuchie ran his fingers tentatively over a 20-centimetre (eight-inch) track of blue surgical stitches at the base of his scalp. “They used machete on me. After using machete on me, they thought that I died,” he said. Oneyebuchie was lucky to survive the attack on April 25. At least 10 people are thought to have been killed and scores of others injured. – Ethnic lines – In the past year, raids by Fulani herdsmen have increased in the southeast. The worst happened some 200 kilometres (125 miles) away in Agatu, Benue state, in late February, where hundreds of people — most of them Christian farmers — were reportedly killed. The bloodshed mirrors that after Nigeria gained independence in 1960, when Igbos dominant in the mainly Christian southeast, were pitted against Hausa and Fulani in the largely Muslim north. Kingsley Oneyebuchie stands in a hospital room on May 5, 2016, after surviving a Fulani herdsmen machete attack in Nsukka, southeast Nigeria. Ongoing clashes between nomadic Fulani herdsmen and farming communities in Nigeria’s middle belt and southeast states have accounted for the death and displacement of many people. The ethnic violence led to two military coups, hundreds of deaths — and ultimately a civil war, when the southeast broke away and declared an independent Republic of Biafra in 1967. Some one million Igbos died either fighting for the fledgling nation or from starvation and disease in a brutal conflict that by its end in 1970 left the southeast broken. Now, stricken villagers maintain the only solution to the Fulani attacks — and perceived northern domination of political posts from the president downwards — is an independent state. “We need to know that this is Igbo and this is Fulani,” said Oneyebuchie. “We want them to leave our place so that we will be free.” – Growing conflict – According to the Global Terrorism Index 2015 report, “Fulani militants” killed 1,229 people in 2014 — up from 63 in 2013 — making them the “fourth most deadly terrorist group” in the world. Most deaths happened in Nigeria’s religiously mixed so-called Middle Belt states. But the apparent migration south into Igbo territory is being used by an increasingly hardline pro-Biafra movement as an indication the Nigerian government doesn’t serve or protect the region and is stoking discontent in the southeast. Nigeria’s President Muhammadu Buhari, a northern Hausa-Fulani who opposes the pro-Biafran movement, took until late April to speak out about the herdsmen, saying he had ordered military and police to “take all necessary action to stop the carnage”. He has proposed setting up a grazing plan that includes the establishment of cattle ranches and importing grass feed from Brazil. Critics argue his response is too little, too late and overly ambitious. “I have yet to hear this government articulate a firm policy of non-tolerance for the serial massacres,” Nobel laureate Wole Soyinka said recently, describing the ranch plan as “optimistic”. – ‘A second genocide’ – And elderly woman stands outside her house on May 5, 2016 in Nimbo, southeastern Nigeria, where nomadic Fulani herdsman attacked the village. Ongoing clashes between nomadic Fulani herdsmen and farming communities in Nigeria’s middle belt and southeast states have accounted for the death and displacement of many people. STEFAN HEUNIS / AFP The arrest and detention of Indigenous People of Biafra (IPOB) leader Nnamdi Kanu last year catapulted him and his more hardline pressure group into the mainstream. “Buhari has authorised a second genocide on Biafra,” IPOB, which has been campaigning for Kanu’s release through public protests, said about the herdsmen. “Biafrans are on the verge of being exterminated,” it added. In Nimbo, the farmers use less emotive language but their underlying message is the same. Today the village is deserted, with shiny new padlocks fastened on the wood doors of mud-brick houses and hectares of cassava and melon crops abandoned until safer times. “We have been complaining to government, complaining to everyone, no help,” said Thaddeus Okenwa, a 65-year-old cassava farmer with a raspy voice and muscular hands. “We are now just managing because nothing goes normal. If they can give us our own independence, let’s go. “We don’t pray for war now, but this (the Fulani issue) can cause it because you can’t be a stranger in your home.”

Read more at: How Fulani herdsmen cut my head with machete - Oneyebuchie - Vanguard News
 

Poitier

My Words Law
Supporter
Joined
Jul 30, 2013
Messages
69,411
Reputation
15,449
Daps
246,370
BUSINESS & ECONOMY2 HOURS AGO
Ivory Coast pins its hopes on first chocolate factory
World's biggest exporter of cocoa beans takes what it calls its first step to become a player in the global industry.

665003303001_4901562322001_4901205566001-vs.jpg

Ivory Coast is the world's biggest exporter of cocoa beans, but for a long time cocoa farmers have reaped very little profit from the staple food used to make chocolate around the world.

Now, in a new bid to help people get more benefits from cocoa production, the government has built the country's first chocolate factory that make products that fetch a much higher price than the bean.

Al Jazeera's Mohammed Adow, reporting after a visit to the factory in Abidjan, said: "The factory has the capacity to convert Ivorian cocoa beans into 10,000 chocolate products every year. It's the first step of what the government calls the journey towards becoming the world's leading grinder of cocoa."

Ibrahim Kone, a marketing manager for the factory, told Al Jazeera the factory has also created more job opportunities, which are vital for the country as it emerges from a major conflict.

Massendjere Toure, who heads Ivory Coast's Cocoa and Coffee Council, said: "The government is trying to attract foreign investment in the country's cocoa sector.

"Our dream is to dominate the global cocoa industry some day soon."

20137271124903734_20.jpg


Source: Al Jazeera

Ivory Coast pins its hopes on first chocolate factory
 

Yehuda

Veteran
Supporter
Joined
Dec 24, 2014
Messages
30,531
Reputation
10,740
Daps
123,114
TELECOMS DISPLACE OIL BY CONTRIBUTING 8.7 PERCENT TO NIGERIA’S GDP

AUTHOR

Ayomide Thompson
PUBLISHED
April 14, 2016

Since the start of the “Telecoms revolution” Nigeria’s image in the global communication circuit has shot to the heavens. At international forums, international organisations have consistently cited the Nigerian telecom regulatory model and growth gradient as a template for others.

In recent years, Africa’s largest economy has been recognized during the Commonwealth Telecommunications Organisation (CTO) conferences, which Nigeria has had the privilege of hosting twice since the advent of the telecom revolution. The reasons for this are not far-fetched. In the recent history of global telecoms, Nigeria has held the record for being the fastest growing mobile market in the world for five consecutive years; Nigerian telecoms, more than many elsewhere in the world, has recorded the highest return on investment; it has generated more jobs, steady jobs, and millions of ancillary jobs than any sector in the local economy. The industry has grown to being a major contributor to the country’s GDP. It has blossomed to well over $32 billion industry from a trifling $50 million in the year 2000.

During an event at the Lagos Business School, a keynote speaker, Dr. Doyin Salami, made it known that the telecoms and other services sectors have contributed 8.7 percent to Nigeria’s Gross Domestic Product, GDP in 2015, with the country’s main economic stay, oil, accounting for 6.4 percent, which was occasioned by the drop in world oil price, which invariably affected the country’s economic growth pattern, oil accounted for 71 percent of the country’s export earnings against 54 percent in 2014 accounting for the government’s revenue.

The telecoms sector is a major stakeholder in the area of Foreign Direct Investment to the Nigerian economy, providing more than half of the country’s FDIs. Nigeria’s economy has been systematically and strategically diversified along the lines of technology and other services sector without Nigerians noticing.

The Nigerian telecoms sector is one of the fastest growing telecommunications markets in the world and continues to attract significant foreign direct investment, with an estimated additional $6 billion invested between 2011 and 2013.

Telecoms displace oil by contributing 8.7 percent to Nigeria's GDP
 

Poitier

My Words Law
Supporter
Joined
Jul 30, 2013
Messages
69,411
Reputation
15,449
Daps
246,370
POLITICS
Is Tanzania ousting Kenya as East Africa's powerhouse?
Less than a year after President Magufuli took office, Tanzania is already gaining influence among its neighbors and moving away from its reputation as a lone ranger in the region. So what does this mean for Kenya?


Despite having the largest population in East Africa, Tanzania has often been sidelined in regional politics. While Kenya's influence surged, Tanzania was accused of being too slow and cautious when it came to plans for regional integration and infrastructure.

But since John Magufuli's surprise election win last October, it seems Kenya could be losing its grip on East African politics as Tanzania increasingly presents itself as a viable alternative for regional cooperation.


Infrastructure projects

Just last week, the Ugandan government announced it would route the country's valuable oil exports through Tanzania rather than Kenya, opting for a pipeline to the Tanzanian port city of Tanga.

A report commissioned by the Ugandan government in March found that the pipeline route through Tanzania was cheaper and would be in operation more quickly than the Kenyan option. The decision was a blow for Kenya, which will now have to go through with its own ambitious oil pipeline project alone, or find new partners.

An international railway project, championed by Kenya, has also come up against difficulties as regional players consider their options. Widespread media reports claimed that Rwanda was pulling out of plans to develop rail links to Indian Ocean ports through Kenya in favour of routes through Tanzania. But the Rwandan government has now said it plans to continue with both routes.

Magufuli's new approach

The readiness of Uganda and Rwanda to embark on projects and agreements with Tanzania, particularly when it means breaking off deals with Kenya, is a mark of the shift of influence within the region. Kenyan political analyst and commentator Martin Oloo told DW that President Magufuli's pragmatic, hands-on approach is making this possible. "It is changing the way business can be done: in a more efficient and effective way," he said.


President Magufuli visited his Rwandan counterpart Paul Kagame last month

One of Magufuli's key policies is cracking down on corruption. "What is endearing him to his own people and perhaps what is making sense economically for the region is that business can be done in cheaper ways, business can be done by minimizing corruption," Oloo said. "And corruption is expensive, so countries where there is runaway corruption, like in Kenya. That's impeding its competitiveness, its impeding its relevance within the region," he added.

Stability and growth

But Tanzania's recent political gains are not only down to Magufuli's leadership style. The country has enjoyed a steady growth rate of 6 - 7 percent over the past decade and is already starting to overtake Kenya economically. "Magufuli's performance will only be helping that to happen faster," Oloo said.

Despite widespread poverty, long term political stability has provided a solid foundation for growth and development. "You can decide to look at Kenya as a powerhouse maybe on the economic side, but you've got to accept that Tanzania is a powerhouse in terms of stabilizing these countries," said Richard Shaba, Program Coordinator at the Konrad Adenauer Foundation in Tanzania, a German political foundation. "We take most of the refugees. We do most of the reconciliation whenever these countries have a problem," Shaba told DW.

When it comes to stability, Kenya is struggling. Security has become a growing fear, not only for Kenyans but also investors. The country's border with Somalia makes it vulnerable to attacks from Somali terrorist group al-Shabab, making Tanzania an attractive alternative.


Kenyan police deal with casualties following an al-Shabab attack on a village on Kenya's border with Somalia last year

What's next for East Africa?

In the face of these difficulties, Kenya will now have to up its game if it wants to retain its regional strength. "What should be worrying Kenyans is that we need to take on runaway corruption, we need to improve efficiency, we need to make ourselves competitive within the region," said analyst Oloo. "And unless we do that, then our neighbors like Tanzania and Rwanda are actually going to run away with the opportunities."

If the latest developments in terms of regional cooperation are anything to go by, that is already happening. But according to Richard Shaba, even Magufuli's unconventional approach won't completely change Tanzania's traditionally guarded politics when it comes to cooperation and integration in East Africa.

"I think Tanzania will pursue more or less the same regional politics - being a bit cautious - because when the East African Community collapsed in 1977 we got our fingers burned very badly," he told DW. "Willingness is always there, but the approach will be cautious."

Is Tanzania ousting Kenya as East Africa's powerhouse? | Africa | DW.COM | 20.05.2016
 

Bawon Samedi

Good bye Coli
Supporter
Joined
Mar 28, 2014
Messages
42,413
Reputation
18,635
Daps
166,508
Reppin
Good bye Coli(2014-2020)
POLITICS
Is Tanzania ousting Kenya as East Africa's powerhouse?
Less than a year after President Magufuli took office, Tanzania is already gaining influence among its neighbors and moving away from its reputation as a lone ranger in the region. So what does this mean for Kenya?


Despite having the largest population in East Africa, Tanzania has often been sidelined in regional politics. While Kenya's influence surged, Tanzania was accused of being too slow and cautious when it came to plans for regional integration and infrastructure.

But since John Magufuli's surprise election win last October, it seems Kenya could be losing its grip on East African politics as Tanzania increasingly presents itself as a viable alternative for regional cooperation.


Infrastructure projects

Just last week, the Ugandan government announced it would route the country's valuable oil exports through Tanzania rather than Kenya, opting for a pipeline to the Tanzanian port city of Tanga.

A report commissioned by the Ugandan government in March found that the pipeline route through Tanzania was cheaper and would be in operation more quickly than the Kenyan option. The decision was a blow for Kenya, which will now have to go through with its own ambitious oil pipeline project alone, or find new partners.

An international railway project, championed by Kenya, has also come up against difficulties as regional players consider their options. Widespread media reports claimed that Rwanda was pulling out of plans to develop rail links to Indian Ocean ports through Kenya in favour of routes through Tanzania. But the Rwandan government has now said it plans to continue with both routes.

Magufuli's new approach

The readiness of Uganda and Rwanda to embark on projects and agreements with Tanzania, particularly when it means breaking off deals with Kenya, is a mark of the shift of influence within the region. Kenyan political analyst and commentator Martin Oloo told DW that President Magufuli's pragmatic, hands-on approach is making this possible. "It is changing the way business can be done: in a more efficient and effective way," he said.


President Magufuli visited his Rwandan counterpart Paul Kagame last month

One of Magufuli's key policies is cracking down on corruption. "What is endearing him to his own people and perhaps what is making sense economically for the region is that business can be done in cheaper ways, business can be done by minimizing corruption," Oloo said. "And corruption is expensive, so countries where there is runaway corruption, like in Kenya. That's impeding its competitiveness, its impeding its relevance within the region," he added.

Stability and growth

But Tanzania's recent political gains are not only down to Magufuli's leadership style. The country has enjoyed a steady growth rate of 6 - 7 percent over the past decade and is already starting to overtake Kenya economically. "Magufuli's performance will only be helping that to happen faster," Oloo said.

Despite widespread poverty, long term political stability has provided a solid foundation for growth and development. "You can decide to look at Kenya as a powerhouse maybe on the economic side, but you've got to accept that Tanzania is a powerhouse in terms of stabilizing these countries," said Richard Shaba, Program Coordinator at the Konrad Adenauer Foundation in Tanzania, a German political foundation. "We take most of the refugees. We do most of the reconciliation whenever these countries have a problem," Shaba told DW.

When it comes to stability, Kenya is struggling. Security has become a growing fear, not only for Kenyans but also investors. The country's border with Somalia makes it vulnerable to attacks from Somali terrorist group al-Shabab, making Tanzania an attractive alternative.


Kenyan police deal with casualties following an al-Shabab attack on a village on Kenya's border with Somalia last year

What's next for East Africa?

In the face of these difficulties, Kenya will now have to up its game if it wants to retain its regional strength. "What should be worrying Kenyans is that we need to take on runaway corruption, we need to improve efficiency, we need to make ourselves competitive within the region," said analyst Oloo. "And unless we do that, then our neighbors like Tanzania and Rwanda are actually going to run away with the opportunities."

If the latest developments in terms of regional cooperation are anything to go by, that is already happening. But according to Richard Shaba, even Magufuli's unconventional approach won't completely change Tanzania's traditionally guarded politics when it comes to cooperation and integration in East Africa.

"I think Tanzania will pursue more or less the same regional politics - being a bit cautious - because when the East African Community collapsed in 1977 we got our fingers burned very badly," he told DW. "Willingness is always there, but the approach will be cautious."

Is Tanzania ousting Kenya as East Africa's powerhouse? | Africa | DW.COM | 20.05.2016


Now this is interesting...
 

Sonni

Pro
Joined
Feb 25, 2013
Messages
441
Reputation
290
Daps
939
Reppin
NULL
Nigeria's economy contracts
Western Africa
by Reuters Last Updated: Fri, 20 May 2016 17:38:04 GMT 0

Nigeria's gross domestic product contracted by 0.36 percent in the first quarter of 2016 after growing 3.96 percent in the same period last year, the head of the Nigerian Bureau of Statistics (NBS) said on Friday on his Twitter feed.

Q1 GDP declined to -0.36% from 2.11% in q4 2015 and 3.96% in q1 2015

5:03 PM - 20 May 2016
https://twitter.com/sgyemikale/status/733674417927114755
14%(36.2% old method) women in laborforce unemployed & 22.2% underemployed & 10.3%(26.5% old method) men unemployed &16.2% underemployed.

5:44 PM - 20 May 2016
https://twitter.com/sgyemikale/status/733684743187877888

Africa's biggest economy is going through its worst economic crisis in decades, caused by the sharp fall in oil prices. Nigeria relies on crude oil sales for around 70 percent of national income and low prices have cut government revenues.

The economy's contraction in the first quarter of 2016 compares with growth of 2.11 percent in the fourth quarter of last year. Annual inflation quickened to a near six-year high of 13.7 percent in April.

Currency curbs were introduced by the central bank last year in an attempt to conserve dwindling foreign exchange reserves.

President Muhammadu Buhari has rejected calls by the International Monetary Fund for a more flexible exchange rate. The naira currency is officially pegged at between 197 and 198 per dollar but has fallen 40 percent below that level on the parallel market.

The central bank's monetary policy committee will meet on Monday and Tuesday. Speculation that the naira may soon be devalued has grown since the vice president said last week that currency policies needed to change to encourage investment. (Reporting by Alexis Akwagyiram; Editing by Catherine Evans)

Nigeria's economy contracts
 

Yehuda

Veteran
Supporter
Joined
Dec 24, 2014
Messages
30,531
Reputation
10,740
Daps
123,114
Mozambique’s economy grows 5.3 pct in 1st quarter of 2016

MAY 20TH, 2016
folder-gray.gif
HOME

Mozambique’s economy registered annual growth of 5.3 percent in the first quarter of 2016, according to figures published in Maputo by the National Statistics Institute (INE).

The performance of the Mozambican economy in the period was primarily due to the secondary sector which grew 10 percent, most notably the construction sector with 11.4 percent, followed by manufacturing, with 9.9 percent.

The tertiary sector took second place, posting growth of 6.9 percent, driven by the catering industry, with growth of 8.7 percent.

The primary sector grew 2.7 percent, driven by the mining industry, with an increase of 11 percent, also according to the INE figures cited by daily newspaper Notícias.

The growth rate recorded in the first three months of 2016 is close to the figure recently forecast by the World Bank for the development of Mozambique’s economy this year, of 5.8 percent. (macauhub/MZ)

Mozambique's Economy Grows 5.3 Pct In 1st Quarter Of 2016
 

Poitier

My Words Law
Supporter
Joined
Jul 30, 2013
Messages
69,411
Reputation
15,449
Daps
246,370
Might need to book a flight to Angola with a suitcase full of dollar bills :mjpls:
 

Yehuda

Veteran
Supporter
Joined
Dec 24, 2014
Messages
30,531
Reputation
10,740
Daps
123,114
Angola starts manufacturing electricity meters

MAY 20TH, 2016
folder-gray.gif
HOME

Angola will stop importing electricity meters that it needs, under the terms of an investment contract signed Thursday in Luanda between the Technical Unit for Private Investment (UTIP) and Energitec – Contadores de Energia, Lda.

The project signed with the PICU includes the design, construction and operation of a plant for the manufacture and assembly of electrical energy meters and represents an investment of US$15.35 million.

The company, which will occupy an area of over 3,000 square meters in the Viana district, on the outskirts of Luanda, has two production lines, one for single-phase meters and another for three-phase meters, with an initial capacity to produce 1,000 meters a day.

António Papoila, chairman of the Portuguese company Janz – Contadores de Energia, which provides technological support to Energitec – Contadores de Energia, said the plant will start to be installed in August and should start operating six to nine months later.

This investment project will create 500 direct jobs, of which 437 for Angolans and 63 for foreigners. (macauhub/AO/PT)

Angola Starts Manufacturing Electricity Meters
 

The Odum of Ala Igbo

Hail Biafra!
Joined
Jan 16, 2014
Messages
17,969
Reputation
2,965
Daps
52,727
Reppin
The Republic of Biafra
Governor of Ekiti state in South-West Nigeria declares war on Fulani herders
Fayose makes history, bans cattle grazing in Ekiti - Premium Times Nigeria
Fayose makes history, bans cattle grazing in Ekiti
May 23, 2016Press Release
FAYOSE-IN-COURT.FEDERAL-HIGH-COURT-ADO-EKITI-035-e1412150007600.jpg.pagespeed.ce.caPtnk8dB8.jpg

Ayo Fayose, Ekiti state governor.
RELATED NEWS


Fayose threatens reprisal attack on Fulani herdsmen over attack on Ekiti communitiesMay 22, 2016

Fayose condemns Buhari's 'silence' on killings by herdsmenFebruary 28, 2016

Fayose rules out cattle grazing reserves in EkitiMay 10, 2016

We won't allow federal grazing reserves in Oyo – Gov. AjimobiApril 27, 2016

Nigeria to establish ranches for herdsmen to prevent clashes - Governor LalongApril 3, 2016

The Ekiti State Governor, Ayodele Fayose, has banned grazing and rearing of cattle in the state, saying those interested in cattle farming should get their own private cattle ranch.

The governor, who became the first ever state executive to take such a drastic measure in the country, also said a bill to make the movement of cattle from one location to another criminal in the state would soon be sent to the State House of Assembly.

Governor Fayose, who made this known when he visited Oke-Ako in Ikole local government area of the State that was invaded last Friday by Fulani herdsmen that killed two residents of the town and injured others, warned that government would henceforth confiscate any cattle seen anywhere in the State apart from ranch created for them by their owners.

He described the Fulani herdsmen that attacked Oke-Ako and other communities in the country as “agents of the devil that must be fished out and punished accordingly.”

The governor said, “We will not leave our lands for Fulani herdsmen and in a system where the leadership of the country looks the other way while our people are being killed, we will have no option than to defend ourselves by whatever means.

“I have come here to commiserate with the people of Oke-Ako over the murder of two of our people by these evil Fulani herdsmen.

“I am also here to assure that this will be the last time your community will be invaded by Fulani herdsmen under whatever guise.

“I have directed that cattle rearing and grazing should stop in Ekiti State and those interested in cattle farming should henceforth do so in their own cattle ranch.


lg.php
pixel_match



“No more movement of cattle from one location to another in the State and any cattle seen anywhere in Ekiti State apart from the ranch created for them by their owners will be confiscated by the government and their owners will be prosecuted.

“A bill to this effect will be sent to House of Assembly for passage into law to criminalise cattle owners whose cattle are found moving from one location the other in the State.

“If President Muhammadu Buhari, who is the patron of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), has refused to call the herdsmen to order, we in Ekiti will no longer harbour herdsmen who go about killing our people, destroying our farmlands and raping our women.

“If the same President Buhari that was so concerned about the killing of Fulani herdsmen in in Saki, Oke Ogun Area of Oyo State such that he, as a private citizen led Arewa to Ibadan on October 13, 2000, to confront the then Governor of Oyo State, late Alhaji Lam Adesina is now keeping silent when the same herdsmen are killing our people, we must rise and defend ourselves.”

“It is our duty to protect our people and we are going to do that without fear or favour.

The governor said the activities of Fulani herdsmen was inimical to the revival of agriculture in the country saying, “one wonders how Nigerians can go back to farming when those already in the farms are losing billions of naira worth of crops to destruction of their farmlands by the Fulani Herdsmen and the Federal Government is not doing anything about it.”
 

Yehuda

Veteran
Supporter
Joined
Dec 24, 2014
Messages
30,531
Reputation
10,740
Daps
123,114
Ivory Coast now world’s biggest exporter of cashew nuts

Monday 23rd May , 2016 11:28 am

raw-cashew-nuts-620x330.jpg


The Ivory Coast has overtaken India to become the world’s biggest exporter of cashew nuts.

This development will bolster President Alassane Ouattara’s efforts to have 100% of the cashew nuts produced in the Ivory Coast processed internally by 2020.

The road to achieving these goals could mean more jobs and money flowing into the Ivorian economy.

Ivory Coast is also one of the world’s leading producers of cocoa. The country was recently ranked as the preferred destination for investors in Africa.

This trade boost for the Ivory Coast comes a few months after Ghana’s Ministry of Trade and Industry suspended a ban it had placed on exportation of raw cashew nuts after it received intense bashing from Parliament.

The Minister of Trade, Ekow Spio Garbrah said the decision to suspend the ban was mainly influenced by the view that the timing for the move was wrong.

The Ministry earlier explained that the directive banning the cashew nuts exports was an attempt to improve the local processing sector.

Spio.jpg

Minister of Trade, Ekow Spio Garbrah

This ban however infuriated MPs and some cashew nut farmers who mounted intense pressure on the Ministry to rescind its decision.

Despite the Trade Ministry’s decision retreat, it said it will soon put in place some measures to streamline the cashew industry.



By: Delali Adogla-Bessa/citifmonline.com/Ghana

Ivory Coast now world's biggest exporter of cashew nuts
 
Top