News - Afrikan Heroes

Portuguese Speaking African Countries Sign Economic Treaty

October 11, 2019

As part of efforts aimed at bridging economic and trade gap within the continent, especially for Lusophone countries of Africa, the African Development Bank and the governments of Equatorial Guinea and Portugal have signed a country-specific memorandum of understanding for the implementation of the Lusophone Compact, which aims to accelerate private sector development in Portuguese-speaking countries of Africa, known as PALOPs. Equatorial Guinea is the sixth and final PALOP country to sign the Compact after Angola, Cape Verde, Guinea-Bissau, Mozambique and São Tomé and Príncipe.

Cesar Mba Abogo, Minister of Finance, Economy and Planning of Equatorial Guinea

The Lusophone Compact is a financing platform that provides risk mitigation, investment products and technical assistance to accelerate private sector development in Lusophone African countries. In Equatorial Guinea and elsewhere, project preparation has been identified as one of the main impediments to making projects bankable. The Portuguese Government allocated 400 million euro in guarantees and other risk sharing mechanisms in the 2019 national budget to support the implementation of the Compact.

The signing ceremony which took place in Bata last week was between Cesar Mba Abogo, Minister of Finance, Economy and Planning of Equatorial Guinea, Manuel Grainha do Vale, Chief of Mission of Portugal in Equatorial Guinea and Racine Kane, Deputy Director General for the Central Africa region at the African Development Bank. Also present at the ceremony were Equatorial Guinea’s Minister of Foreign Affairs and Cooperation Simeón Oyono Esono Angue, Minister of Trade and Promotion of SMEs, Micha Ondo Bile, Minister of Justice, Salvador Ondo Ncumu, several secretaries of state, and over 50 representatives of the public and private sector.

The Equatorial Guinea MOU identifies a list of potential private sector and PPP investment projects, which will be reviewed by the Bank, Equatorial Guinea and Portugal and prioritized for further support. It also includes an indicative list of technical assistance projects to accelerate private sector and PPP growth.

Mba Abogo described the occasion as “an important element in our strategy to strengthen and diversify the private sector” and underlined the central role of the private sector and public-private partnerships (PPPs) in the nation’s Horizonte 2035 national development plan.

Speaking on behalf of the Bank, Kane emphasized its commitment to two central pillars of Equatorial Guinea’s development – diversification of its economy and the development of human capital – which he said will be reflected through the Compact. For his part, Grainha do Vale stressed that Portugal seeks to deepen its cooperation with Equatorial Guinea and that the Compact will be an important element in the development of that relationship.

Following the signing, the Bata Chamber of Commerce hosted the Bank delegation which included Ezekiel Odiogo, Head, Private Sector Investment at the Africa Investment Forum, at a roadshow event for the local business community. “The Africa Investment Forum is a unique platform for Equatorial Guinea to showcase its investment opportunities to the global investor community,” Odiogo said.

The presentations were followed by B2B meetings with select project sponsors. A day later, the program was repeated in Malabo, at the Malabo Chamber of Commerce, where more than 50 entrepreneurs participated and over a dozen B2Bs were held.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

The European Union Has Removed Mauritius From Its Tax Haven List

For businesses rushing to Mauritius to benefit from their friendly tax policies, which used to be among the lowest in the world, EU has become the latest body (after OECD) to announce that this is no longer the case. European Union finance ministers have agreed to remove the United Arab Emirates, Switzerland and Mauritius from the bloc’s lists of countries deemed to be acting as tax havens, a move that activists called a “whitewash.”

Here Is All You Need To Know

The 28-nation EU set up a blacklist and a gray list of tax havens in December 2017 after revelations of widespread avoidance schemes used by corporations and wealthy individuals to lower their tax bills.
Blacklisted states face reputational damage and stricter controls on transactions with the EU.
As part of the regular review of the lists, the ministers decided to drop the UAE from the EU blacklist that covers jurisdictions that have failed to cooperate with the EU on tax matters.
The Marshall Islands has also been removed from that list, which still includes nine extra-EU jurisdictions — mostly Pacific islands with few financial relations with the EU.
The UAE, the largest financial center which was blacklisted, was removed because in September it adopted new rules on offshore structures, the EU said, giving it a clean-sheet on its tax practices.
The Gulf state charges no corporate taxes, making it a possible target for firms seeking to avoid paying tax in the countries where they actually operate.
The EU does not automatically add countries that charge no tax — a sign of being a tax haven — to its blacklist, but it requested the UAE introduce rules that would allow only companies with a real economic activity there to be incorporated in order to reduce risks of tax dodging.

“SWEET TREATS”

Under an initial version of the overhaul, the UAE exempted from the requirement “all entities in which the UAE government, or any of the Emirates of the UAE, had direct or indirect ownership (no threshold) in its share capital”, an EU document said.
That reform was deemed insufficient by EU states and prompted an amendment, adopted in September, that excluded from the requirement only companies in which the UAE government owns directly or indirectly a 51% share of the capital.
This reform was considered by EU ministers as sufficient to remove the UAE from the blacklist.

Jurisdictions that remain blacklisted are Belize, Fiji, Oman, Samoa, Trinidad and Tobago, Vanuatu and the three US territories of American Samoa, Guam, and the US Virgin Islands.

Major economic partner Switzerland was removed from the EU gray list covering countries that have committed to change their tax rules to make them compliant with EU standards. It has delivered on its commitments, the EU said, and therefore is no longer listed.
They also removed the Indian Ocean island of Mauritius, Albania, Costa Rica, and Serbia from the gray list, leaving around 30 jurisdictions on the list.
Countries in the gray list could be moved to the blacklist if they fail to deliver on their commitments.

“The EU has whitewashed two of the world’s most harmful tax havens,” Chiara Putaturo of Oxfam, an anti-poverty group, said in reference to the decision of delisting Switzerland and Mauritius.

“Despite recent reforms, both countries will continue to offer sweet treats to tax-dodging companies,” she said.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Businessmen Query Africa’s Competitiveness

October 10, 2019

A group of African business people under the aegis of African Energy Chamber at the just concluded Africa Oil and Power Conference and exhibition called on governments to embark on much needed reforms aimed at making the continent more competitive. The group who had a panel discussion addressed several issues such as the upstream sector on a global scale, whether the sector is indeed entering a new era, what makes Africa’s upstream attractive, what is holding the continent back, where the biggest opportunities in the sector are, how the continent can attract further investment, and how private investors can participate in Africa’s greater vision for its economy. The panelists agreed that it is important to look at African countries individually and study their geological terms in comparison to their fiscal terms.

Executive Chairman of African Energy Chamber NJ Ayuk

Casting a spotlight on exploration and production in Africa’s oil and gas sector, the first day of the Africa Oil & Power conference and exhibition concluded with a panel discussion on Africa’s upstream sector. The panel moderated by the Executive Chairman of African Energy Chamber NJ Ayuk invited Robin Sutherland, General Manager of New Ventures at Tullow Oil; Kevin Vorhaben, Africa Unit Business Manager, Noble Energy; Geraud Moussarie, Country Manager, BP; Bongani Sayidini, CEO of PetroSA and David Grislain, Senegal Country Manager for Woodside Energy to discuss the future of exploration and production in Africa.

Responding to the leading question: “what makes Africa attractive?” the panelists agreed that it is important to look at African countries individually and study their geological terms in comparison to their fiscal terms in order to understand the performance of the upstream sector and were it stands on the global stage.

On collaboration and maintaining business in Africa, BP’s Geraud Moussarie, using the Grand Tortue Ahmeyim project as an example, said relationships between investors and the national oil companies are essential. “Dialogue, partnership and commitment from the two partners was tremendous,” he said, referring to the GTA project in particular and adding that, “for a big project to work the companies and national oil companies have to stay committed.”

Representing South Africa’s national oil company, PetroSA, Bongani Sayidini said that although the country is currently inactive in the sector, it is watching and learning from its neighboring countries who are making great progress. “While we are not actively drilling, we are watching what the industry is up to,” he said. Also explaining that while PetroSA has not yet been in discussions with Total regarding its plans for the Brulpadda discovery, it is also keen to see what the French major does with the discovery and where it takes the sector.

Addressing the SADC regions reaction to the natural gas trend on the continent, Sayidini noted that: “the biggest challenge in the SADC region is that the gas market is not that developed and there are very few markets that are developed.”

In discussing how to make E&P work in Africa, the panelists provided their visions for the Africa’s E&P’s sector. “For Woodside, in the next five to ten years, we are focusing on commercializing the SNE phase 1 project and of course, SNE 2, SNE 3. So, it is full steam ahead for us,” said Woodside’s David Grislain.

“We are very very excited to be now in ten different countries in Africa, our focus is the MSGBC which has a special place for us being a new basin with lots of potential and lots of gas and we will work closely with the government to make it a very competitive basin”, said Moussarie.

“We are committed to Africa; I know we recently had a discovery in South America but that is because the geology is similar to Africa where we feel very much at home. We have a long history of opening bases that were deemed to be non-productive by others,” said Tullow Oil’s Robin Sutherland.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Zambia Abandons Its Proposed Sales Tax Due For 2020

Zambia is no longer going on with its plan to introduce Sales Tax for the country’s businesses in 2020. The Zambian Minister of Finance in his 2020 Budget Speech has announced that the government is abandoning its plans to replace value added tax (“VAT”) with sales tax. Zambian businesses would therefore continue to pay tax on goods and services supplied or imported into the country under the old Value Added Tax Act, instead of the now abandoned Sales Tax.

Here Is All You Need To Know

A Sales Tax Bill, providing for sales tax at the rate of 9% on the supply of goods and services in Zambia and 16% on the importation of goods and services was published in April 2019, but its implementation was repeatedly postponed.
In response to various concerns raised by stakeholders, including the cascading effect, negative impact on GDP growth and job losses through the elimination of intermediaries in the supply chain, it was decided to retain the VAT system, but address compliance and administrative challenges.
The Minister announced various administrative measures to strengthen the enforcement and efficiency of VAT, including upgrading the Taxonline system for domestic taxes and interfacing it with the customs system to ensure that all refund claims for import VAT are validated; making the use of Electronic Fiscal Devices (EFD) mandatory for VAT and other tax types and making it mandatory to capture and electronically transmit to the Zambia Revenue Authority (“ZRA”) the Taxpayer Identification Number and name of both the buyer and seller of goods and services in all Business-to-Business and Business-to-Government transactions; enhancing Data Analytics and bulk data matching with third party institutions such as the Patents and Company Registration Agency; and ensuring the timely audits of VAT claims, including procuring the services of external forensic auditors where necessary.
Proposed amendments to the VAT Act include the zero-rating of capital equipment and machinery for the mining sector as well as copper cathodes sold locally, but ancillary services directly linked to the transit of goods through Zambia are to be subject to VAT at the standard rate. VAT inputs on consumables such as stationery, lubricants and spare parts are to be disallowed and input VAT claims by mining companies on diesel and electricity are to be limited to 70% and 80% respectively.

For Foreign Investors and Businesses

Since the proposed Zambian Sales Tax Act is no longer coming into force in 2020, Zambia will not therefore become the only country in Southern African Development Community and possibly in the Common Market for Eastern and Southern Africa region to have a sales tax system. The proposed Sales Tax which has now been abandoned would have influenced foreign investors in their decision to locate their companies.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Forum Proposes Way Forward for Sustainable Fertilizer Financing in West Africa region

October 9, 2019

If Africa will achieve self sufficiency in food production, it must first lay the groundwork for sustainable fertilizer financing across the regions of the continent. This was the takeaway as key stakeholders in West Africa’s fertilizer sector call for more action to support the industry, which is central to the continent’s agricultural revolution. The call came out of the first West Africa Fertilizer Financing Forum, organized by the African Fertilizer Financing Mechanism and partners, and held Abidjan, Cote d’Ivoire from September 30th to October 1st, 2019.

The Head of Coverage Trade & Agriculture and Food at Société Générale in Côte d’Ivoire Augustin N’dri

The forum which closed with the signing of a Memorandum of Understanding between the West Africa Fertilizer Association and the Economic Community of West African States (ECOWAS) aims to strengthen the fertilizer value chain in West Africa and set the scene for the implementation of the regional agenda on sustainable agriculture.Speaking on the development, the coordinator of the Africa Fertilizer Financing Mechanism, Marie Claire Kalihangabo said that after intense days of discussions on concrete solutions,” it is now time for us to follow up and make sure that what was said here becomes a reality”.

Fertilizer is cited as one of the key components in the 2006 Abuja Declaration on Fertilizer for the African Green Revolution. At the time, Africa’s fertilizer use averaged only 8 kilograms per hectare, or 10% of the world’s average, leading to low productivity. Financing remains one of the missing links for a robust agricultural value chain in West Africa, participants said. They also pointed out that fertilizer suppliers and distributors are facing several challenges when it comes to accessing financing through commercial banks and other financial institutions. The challenges include limited working capital, a low equity base and lack of trust.

Major regional commercial banks attending the meeting expressed their interest in risk-sharing facilities and said stronger collaboration with fertilizer suppliers is needed to facilitate bank access to relevant financial information. Bank representatives also suggested increased working relationships with small and medium fertilizer suppliers and distributors from the West Africa Fertilizer Association in order to boost trade credit with guarantees from the Africa Fertilizer Financing Mechanism.

The Head of Coverage Trade & Agriculture and Food at Société Générale in Côte d’Ivoire Augustin N’dri said that most of the commercial banks offer products that can meet the needs of small and medium size enterprises of the fertilizer sector. However, lack of available information limits their access to…available financing resources. High-level African Development Bank representatives engaged with fertilizer stakeholders and reaffirmed support for the development of agriculture in the region.

“I reassure you that the African Development Bank is deploying de-risking financial instruments, including partial risk guarantees and partial credit guarantees, to leverage financing and cover for private lenders/investors,” said Martin Fregene, the Bank’s director of agriculture and agro-industry.

“We can now say that conditions are…in place to achieve our common ambitions to foster the future of fertilizers in our region. I am convinced that large companies as well as small and medium-sized companies in the fertilizer industry will be able to implement the conclusions of this forum to expand their activities and thus develop West Africa’s fertilizer industry,” said Kobenan Kouassi Adjoumani, Côte d’Ivoire’s Minister of Agriculture and Rural Development.

The first West Africa Fertilizer Financing Forum was a joint initiative of the African Development Bank’s African Fertilizer Financing Mechanism and the West Africa Fertilizer Association. The forum brought together representatives from the Bank’s regional member countries, commercial banks, development finance institutions and the fertilizer private sector.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Adesina receives Emeka Anyaoku lifetime achievement award

The President of the African Development Bank (AfDB) Dr. Akinwunmi Adesina has received The Emeka Anyanoku Lifetime Achievement Award. Presenting the Award, the former Commonwealth Secretary-General Emeka Anyaoku described Dr. Adesina and the African Development Bank’s work as “legendary, unprecedented and worthy of emulation.”

The Award which is under the auspices of The Hallmarks of Labour Foundation, a non-profit that recognizes Africans who have achieved success through hard work, honesty, integrity, and justice in every field of human endeavour took place in Lagos recently. Previous recipients of the award include Nobel Laureate, Wole Soyinka.

Africa’s Private Sector Gets $3.5 billion Support from Japan and the AfDB.

Thanking the foundation for the recognition, Adesina said that the African Development Bank had helped 181 million people directly through its investments in the past four years

“There is still much to do. We have gone some way, climbing the steep mountainside of Africa’s development, yet there’s still a long way to go until we reach the mountaintop,” he told the gathering of top government officials, industry leaders, and diplomats.

Togo records the highest proportion of female inventors who applied for patents in Africa and the world, between 1998 and 2017

The Bank has connected 16 million people to electricity and provided 70 million people with improved agricultural technologies to achieve food security. The African Development Bank also gave 9 million people access to finance from private sector companies, provided 55 million people access to improved transport, and 31 million people with water and sanitation.

Adesina congratulated his fellow awardees and urged them to be relentless in their efforts to build humanity.

“Recognition is never the expectation or endgame when you are passionate about your work. But when one’s modest contributions and efforts are found worthy of honor, it is both a surprise and a delight,” he noted.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

New Center To Help SMEs In Togo Manage Their Taxes and Accountability Launched

Togo’s Chamber of Commerce and Industry (CCIT) has created, with various partners, the Accredited Management Center (CGA) which helps businesses with a turnover of less than XOF100 million ( $167,080) to efficiently manage their accountability, taxes, and elaboration of financial statements.

The firms will in turn pay the institution a percentage of their turnover every month.

“Monthly payments vary according to the turnover amount ranging from XOF5,000 to XOF60,000. In exchange, the CGA produces financial statements which beneficiaries have to submit to tax offices,” Germain Meba, CCIT’s chairman told Togo First. Meba added that regional CGAs all over the country will be created by 2020.

In addition to the above-mentioned benefits, businesses adhering to the CGA also benefit from tax incentives. The latter spans five years according to the business tax regime (Single Professional Tax or Simplified Taxation Regime).

“Businesses that adhere to accredited management centers benefit from a 40% reduction in combined tax over the four years following the date of adhesion. In the fifth year, this reduction is brought down to 15%,” declared Sandra Johnson, Minister-Counsellor to the President, in charge of Business Climate.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Rwanda Takes the Lead, Launches ‘Made in Africa’ Smartphone

October 8, 2019

True to expectation, efforts by the Rwandan government to jumpstart human capacity development and technological advancement took an upward turn yesterday as President Paul Kagame unveils a Smartphone factory that gives Rwanda the birthplace of Africa’s first indigenous mobile phone company. Mara Phones, a subsidiary of the Mara Group owned by businessman Ashish J. Thakkar, built a high tech smartphone manufacturing facility in Kigali’s Special Economic Zone, Rwanda with the capacity to produce about two million smartphones annually.

Speaking on the need for Africans to be digitally empowered as the 4^th Industrial Revolution beckons, President Paul Kagame said that a smartphone is no longer a luxury item; it is rapidly becoming a requirement of everyday life. President Kagame noted that the trend is bound to increase in the years to come as more and more services migrate to digital platforms. “We want to enable many more Rwandans to use smartphones. The cost and quality is very important and the introduction of Mara Phones will put smartphone ownership within reach of more Rwandans.”

Describing the development as a dream come true, the founder of Mara Group Ashish Thakkar said that the company aims to manufacture very high quality smartphones at an affordable price while improving smartphone growth in Africa. He noted that to create a positive social impact on the continent and in emerging markets there is this need to have high quality and affordable smartphones, thus the reason behind the Mara Phones.

Figures from the Rwandan statistics office show that smartphone penetration in Rwanda currently stands at around 15% with the most basic Tecno and Samsung models sold at $40 and $70 respectively. Mara Phones’ new factory will start manufacturing two phone models, the Mara X and Mara Z. Thakkar says both phones will be retailed for less than $200 and among other things will have a longer-lasting battery than other smartphones, greater storage space and a 2-year Android version update courtesy of a partnership with Google. Mara Phones also has partnered with local banks and telecommunications firms to create a finance model which will allows users to pay for their phones over a two-year period.

This need for a longer lasting battery was informed by Africa’s electricity challenge, thus a full charge will last as long as two to three days depending on usage, officials say. Moreso, the phone will be more rugged to withstand both climate and environmental challenges.

Clearing the air on doubts over the Phone, Mara Group says the new facility is Africa’s first high tech smartphone factory. “What we have around Africa are basically mobile phone assembling plants. What we have built is Africa’s first smartphone manufacturing plant,” Thakkar was quoted as saying. The factory already employs 200 people with women representing 60% of the workforce. Launching the factory, Rwandan President Paul Kagame commended Mara Group’s entry into the affordable smartphone market and underlined the need to boost the adoption of high-tech products in the East African country. Mara Phones will be launching its second factory in South Africa later this month.

Ashish Thakkar, 38, is the founder of Mara Group, a Dubai-based, African-focused conglomerate with interests in the technology, financial services, manufacturing, real estate & agriculture industries.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Samaila Zubairu Joins Ghana’s Aker Energy as Member, Board of Directors

The President and CEO of Africa Finance Corporation (AFC), Mr. Samaila Zubairu has joined the Board of Aker Energy AS, as Vice Chairman of Aker Energy Board of Directors. Mr. Zubairu’s membership of the Board of Aker Energy is seen as a step in the right direction as he will bring his wealth of experience in infrastructure financing and management to bear on Aker Energy’s projects. The Africaa Finance Corporation (AFC) is the leading infrastructure solutions provider in Africa with 25 African member countries and has invested US$6 billion across 29 African countries. Ghana, where Aker Energy’s Pecan field is located, is in addition to being a member state also an equity shareholder of AFC.

Samaila Zuberu — Mr. Zubairu has previously served as CEO of AfriCapital Management Limited and as CFO of Dangote Cement Plc. Mr. Zubairu

Speaking on the development, the Chairman of the Board of Directors of Aker Energy Sverre Skogen said that AFC is an important partner to Aker Energy and that Aker Energy is honoured to welcome Mr. Samaila Zubairu to the Board, as he brings extensive experience with innovative infrastructure development and financing across the African continent, as well as geopolitical and industrial insight.

Aker Energy is part of the Norwegian Aker group of companies and is, through its subsidiary Aker Energy Ghana Ltd., the operator of the Deepwater Tano / Cape Three Points (DWT/CTP) block offshore Ghana. Aker Energy has its sole focus in Ghana and has submitted a Plan of Development and Operations (PDO) for the block. Speaking, Mr. Zubairu said that AFC’s investment in Aker Energy is an exciting milestone – “we have partnered with the subsidiary of one of the most highly respected international oil, gas and industrials companies to support its first project in the African market as an operator. This is an opportunity for AFC to invest alongside a technically and financially strong sponsor that requires project development expertise and public sector advice in Africa, both of which AFC is ideally placed to offer. It is therefore a great honour to now also being joining the Board of Aker Energy as Vice Chairman”.

In July 2019, AFC became an investor in Aker Energy following the issue of subordinated convertible bonds of USD 100 million with a mandatory conversion to equity in the event of an Initial Public Offering (“IPO”) of Aker Energy. AFC intends to take part in other capital market activities initiated by Aker Energy in the future.

Mr. Zubairu has previously served as CEO of AfriCapital Management Limited and as CFO of Dangote Cement Plc. Mr. Zubairu is an Eisenhower Fellow and sits on the Eisenhower Fellowship’s Global Network Council,. He holds several non-executive board positions including the Advisory board member for KSE Africa a leading operations and management provider of captive power plants in the mining sectors in Botswana and Nigeria. Mr. Zubairu, is a Fellow of the Institute of Chartered Accountants, Nigeria (FCA) and holds a BSc in Accounting from Ahmadu Bello University, Nigeria. He is an Ex-Boy of the Nigerian Military School, Zaria.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Dangote Unveils Waste-to-Wealth Recycling Project

In continuation of its community social responsibility, and philanthropy, the Dangote Group has unveiled a “Waste to Wealth Initiative” which is focused on managing waste disposal while generating income and giving back to communities wherein we operate.

Group Chief Sustainability and Governance, Dangote Industries Limited, Dr. Ndidi Nnoli,

The project which forms part of events marking the 2019 Global Sustainability Week was celebrated by employees of the Dangote Group with the theme: “Our Community, Our Passion” with various activities held in Lagos and across the Group’s business units and plants.

These activities focused on investment programmes directed towards turning waste to wealth, and reviving reading culture in young children in host communities.

In Lagos, over 200 Sustainability Champions and employee volunteers across the business units, assisted five international facilitators to train the children on turning the most insignificant materials and waste in the environment into tangible assets of economic value to the nation.

Dangote employees also took the initiative to St. George Primary School and Aunty Ayo International School in Ikoyi, where the facilitators, with additional help from the volunteers, trained the children on how to manage their wastes and create sustainable products that are marketable from their everyday generated wastes.

Speaking on the initiative, the Group Chief Sustainability and Governance, Dangote Industries Limited, Dr. Ndidi Nnoli, said the company’s sustainability approach is driven by a desire to contribute and impact positively towards the development of host communities and the society at large.

According to her, the 2019 Sustainability Week is directed towards safeguarding the environment by educating the host communities on how to turn waste to wealth to achieve sustainable development.

Continuing, she said that “we chose St. Georges School because the school is a neighbour to Dangote Head Office building in Ikoyi. Charity begins at home. We started to engender the sustainability culture as an employee volunteering initiative. We honestly believe that people are at the centre of any organisation and sustainability needs to begin with the individual person. It is a culture in Dangote to celebrate the sustainability week every year and this year we decided to bring it to a neighbouring school”.

“It is so important that we bring the initiative to the schools around us because we need to be very concerned about our children, their future, and most especially, education outside the classroom. We need to be concerned about educating our children on sustainability beyond the definition”, she added.

Nnoli disclosed that the company brought international artists to educate the employees that the type of waste that can easily be thrown into the trash can, could be transformed into usable items. “We have people making bangles and pencil cases out of waste plastics. We also have literacy session, mentoring and above all, we are learning about why it is necessary to hunger for knowledge”.

She noted that the Dangote Group has a responsibility to the environment and the society. “We are looking for ways to ensure that value is added to things around us. We have many volunteers who are so eager to learn and impact knowledge to the children. The children are also very excited to learn on new ways to transform the environment.

“For us at Dangote, it is social responsibility and also corporate services, but in this case, the employees have volunteered to carry out this initiative. But the organisation has given us the license to do whatever we want to do. So, as Dangote employees, we have chosen to stand for sustainability, we stand for social development and we stand for the education of a child”, she said.

Giving insight into the programme, the Group Chief Human Resources Officer, Dangote Cement Plc, Dr. Musa Rabiu, said the company’s intention was to create an environment “where we keep improving on how we operate and interact with the environment and regarding people as the most valuable assets”.

He said the company organised the programme to touch the hearts and minds of children who are the next generation by teaching them how to re-use trash.

Rabiu said the initiative was all about reigniting children’s creative ability through innovation by leveraging on technology. “We need to let them know that managing the environment in terms of creativity and innovation is key. With this knowledge, the children are expected to grow up and be conscious of how they can re-use materials in the environment”, he added.

General Manager, Sustainability, Dangote Cement Plc, Eunice Samson, said the company’s intention was to ensure that Dangote employees key into the Group’s vision and volunteer to reach out to the local communities through value addition.

She said the theme for this year’s Sustainability Week “Our Community, Our Passion, the Dangote Way” was a way to make the host community to begin to see the social side of Dangote. “So, for Dangote, it is not always all about business; we also care about the wellbeing of our host communities. With this programme today, we have been able to reach out to over 600 pupils from St. George Primary School and Aunty Ayo International School, Ikoyi, Lagos.

“What we are trying to do is to ensure that we clear the environment of waste by turning it into wealth. We have over 200 Dangote employees who have volunteered to assist the facilitators to teach the children how to turn waste to wealth. The children have been taught how to turn waste plastic bottles into pencil cases, bangles, piggy banks, as well as using used Dangote Cement bags to create gardens” she added.

Speaking also at the event, the Managing Director of African Creative Hub, Jumoke Olowookere, said her responsibility was to teach the participants on how to create a sustainable world without wastes through upcycling wastes towards achieving the United Nations Sustainable Development Goals.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.