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Rapid innovation, lightning-fast deployments and infinite scale solidifies Genesys Cloud as the world’s leading public cloud contact centre platform

JOHANNESBURG, South Africa, January 21, 2020/ — Genesys® (https://bit.ly/2NJBqD6), the global leader in omnichannel customer experience (https://bit.ly/3axpLRC) and contact centre solutions (https://bit.ly/2tCLR4K), announces it is changing the name of its flagship software as a service (SaaS) offering, PureCloud®, to Genesys Cloud™. This shift reflects the evolution of the company and marks the launch of Experience as a Service^SM powered by Genesys Cloud, which enables organisations to achieve true personalisation at scale. Genesys Cloud, an all-in-one solution and the world’s leading public cloud contact centre platform, helps organisations provide better experiences to their customers and employees.

“Through Genesys Cloud , we’re delivering Experience as a Service to make it easier for organisations to foster customer trust and loyalty. This starts by helping them know their customers as individuals, not profiles or segments, and leading with empathy throughout every connected moment,” said Tony Bates, chief executive officer of Genesys. “When businesses can provide distinctive experiences tailored for each customer, they’re achieving the level of personalisation today’s consumers are looking for – and that’s what we enable with Genesys Cloud.”

The solution for any organisation
Last year alone, nearly 500 new customers across the globe selected Genesys Cloud, including Banco Inter, Concord Servicing Corporation, eFinancial, Ethiopian Airlines, Medicard Philippines, Inc., Paycor, SITA and TechStyle. The company also announced it closed more than 1,000 deals with existing customers in 2019, helping them to further modernise the service they deliver through Genesys Cloud. Deployments range in size from 20 to 20,000 seats with nearly 90 percent of organisations fully implemented in just 90 days.

“As the fastest growing digital bank in Brazil, we chose Genesys Cloud because we needed a cloud-based omnichannel customer experience platform that could keep up with our accelerated growth strategy,” said João Marcus dos Santos, customer care IT leader of Banco Inter. “Genesys Cloud allows us to use a single solution to engage with our customers on every channel and provides the flexibility we need for our company’s rapid evolution, enabling us to add innovative and disruptive solutions quickly.”

New pricing gives businesses ultimate agility 
To make it even simpler for organisations to adopt Genesys Cloud, the company is rolling out new usage-based pricing. Beginning in the first quarter of 2020, customers have the flexibility to pay only for the hours they want and add as many users as required. In addition, customers can also make changes to their subscription bundle, such as increasing hours and adding digital channels or workforce engagement management seats. This gives customers unmatched versatility to tailor their subscriptions to meet evolving business requirements.

“After a nearly 30-year legacy of providing leading on-premises contact centre solutions, Genesys has successfully pivoted to the cloud – a feat many premises providers have tried but few have succeeded in making,” said Sheila McGee-Smith, president, McGee-Smith Analytics. “Genesys Cloud gives businesses the best of both worlds: one of the industry’s most powerful cloud platforms enabling rapid innovation and scalability, coupled with the knowledge and expertise of an industry pioneer. This winning combination enables even the most complex organisations to provide a differentiated experience to each customer, every time.”

The platform for rapid innovation
Easily and cost-effectively customisable, Genesys Cloud is an innovative development platform that allows organisations to address the unique needs of their customers and industry. With its robust feature set, open APIs and 100% microservices-based architecture, the platform was built for developers by developers. In fact, last year alone, 60% of the platform’s 7 billion and growing monthly API calls originated from customers and partners. In addition, organisations have even more opportunity to make Genesys Cloud their own by leveraging applications, integrations and services from the Genesys AppFoundry® , the fastest growing dedicated customer experience marketplace in the industry. 

The company also announced it is delivering all new innovations exclusively via the Genesys Cloud platform. This makes it easy for any Genesys customer – whether on-premises, cloud or hybrid – to consume new capabilities, including artificial intelligence, digital, predictive analytics and more, regardless of the Genesys product they use.

Every year, Genesys® (www.Genesys.com) delivers more than 70 billion remarkable customer experiences for organisations in over 100 countries. Through the power of the cloud and AI, our technology connects every customer moment across marketing, sales and service on any channel, while also improving employee experiences. Genesys pioneered Experiences as a Service^SM so organisations of any size can provide true personalisation at scale, interact with empathy, and foster customer trust and loyalty. This is enabled by Genesys Cloud™, an all-in-one solution and the world’s leading public cloud contact centre platform, designed for rapid innovation, scalability and flexibility.

By Uzman Unis Bah

London, United Kingdom, Antonio Rüdiger has donated Le 1 Billion (USD 101,000) to support Sierra Leone’s Free Quality Education initiative.

The player, meeting President Julius Maada Bio on the margins of the UK-Africa Investment Summit, said he was donating the money as his contribution to the President’s flagship project, which aims to support over two million children in primary and secondary schools in Sierra Leone.

The German professional footballer is born to Sierra Leonean parents in Germany. According to the governments press statement, “rüdiger assured the president that he was committed to supporting his government’s effort at rebranding the natural resource-rich country with huge potentials for investments.”

Rüdiger affirms his support for the West African nation “Sierra Leone is my home. I am not the talking type of a person; I am about action. You can count on us and do not hesitate. We are here to support your vision and agenda, especially on education. I am ready to take on my responsibility to change the narrative and image of Sierra Leone,” the presser states. 

Upon assuming power, Sierra Leone’s president has had series of overseas trips, with confidence, he believes the country needs to rebrand, and those trips are essential in boosting investors’ confidence, and attracting investors to the economically challenged nation. However, most of these trips reel with public criticism.

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MARCH 19-21, 2020 Conference to establish a majority position and develop a detailed framework for robust post-conflict reconstruction

Janngo unveils Janngo Capital Startup Fund, its €60m Venture Capital fund dedicated to financing tech-enabled startup accelerating progress towards the Sustainable Development Goals (SDGs) in Africa, with a €15m anchor investment by the European Investment Bank

ABIDJAN, Ivory Coast, January 20, 2020/ — On the eve of its participation to the 50th World Economic Forum, Janngo (http://www.Janngo.Africa) pledges 60€ million to back technology startups with a double bottom line approach through its dedicated investment vehicle Janngo Capital Startup Fund. The fund is a first of its kind Venture Capital & Impact vehicle investing from seed through growth stage across Africa and targeting at least 50% of startups founded, co-founded or benefiting women. This initiative is part of Janngo’s broader commitment on financing the SDGs in Africa, as a member of the Goalkeepers Community and the Global Future Council on the New Economic Agenda of the World Economic Forum.

Entrepreneurship, a powerful engine to provide decent economic opportunities and create jobs in Africa

In Africa, only 3 million jobs are created every year when at least 20 to 30 million jobs will be needed to absorb its fast growing labor force in the coming years. In this context, unlocking entrepreneurship is a critical lever to massively increase the supply of decent jobs and bridge the unemployment gap, both in the formal or informal sector.

“In 2050, we’ll be roughly 2.2 billion people in Africa, which means that we need to find now massive ways to feed, educate, house, care for and employ more than 1 billion people in less than 30 years. We believe traditional development models have failed because they were unbalanced and unsustainable either only focusing on commercial returns or too heavily aid-based : our thesis strikes the right balance between delivering solid returns to our investors while being socially accountable, solving key market failures and leveraging technology to help leapfrog development. That’s ourikigai (http://bit.ly/2TFUOVm), our reason for being, as Janngo means “Tomorrow” or “Future” in Fulani.” explains Fatoumata BA, Executive Chair of Janngo and Managing Partner of Janngo Capital.

Venture Capital as a way to bridge gender inequality in accessing funding

African women are known to be the most entrepreneurial in the world with a 26% Total Entrepreneurial Rate in Sub-Saharan Africa where they are twice as likely to start a business than elsewhere (Source : Roland Berger). Yet, there is currently a $42 billion funding gap for women entrepreneurs in Africa according to the African Development Bank. Additionally, the larger the ticket size, the harder it is for women in emerging markets to get access to capital with only 10% of women entrepreneurs able to raise money from Series A vs 49% at seed stage.

“At Janngo, we believe that talent is equally distributed between men and women but opportunities aren’t; especially in terms of access to capital. That is why we are proud to be a female-led VC fund investing 50% of our proceeds in startups founded, co-founded by or benefiting women” adds Fatoumata BA, Executive Chair of Janngo and Managing Partner of Janngo Capital.

Financing the Sustainable Development Goals in Africa : the need for a stakeholder approach to accelerate progress towards delivery in the next decade

With a €60 million investment vehicle 100% dedicated to African startups achieving both an economic performance and a social impact, Janngo’s commitment is paving the way for SDGs financing in the Venture Capital Space in Africa. This pool of capital includes a €15 million ticket from the European Investment Bank (EIB), the world’s largest multilateral financial institution and the biggest provider of climate finance.

“Thanks to the support of the EIB, we will be able to invest between €50 000 and €5 million, from seed through growth stage in startups all across Africa demonstrating the ability to deliver financial and social returns. Every past investment and every startup in our dealflow is mapped against the 17 SDGs; their ability to create jobs for women, for young people and green jobs is also assessed. We act not only as financial partners but as operating partners with a very hands-on and long-term approach as well as an ecosystem thinking. That is why we have engaged with stakeholders sharing the same vision through our partnership with the EIB, our contribution to the WEF conversation on Financing the SDGs during Davos Annual Meeting and our commitment to the Goalkeepers community. We have a decade to deliver on the Goals and the clock is ticking : we need more than a positive capitalism, we need a stakeholder capitalism” concludes Fatoumata BA, Executive Chair of Janngo and Managing Partner of Janngo Capital.

About Janngo:
Janngo (http://www.Janngo.Africa) builds, grows and invests in pan-African digital champions with proven business models and inclusive social impact. We build digital ecosystems in high growth sectors by providing business support and digital platforms allowing Small and Medium Enterprises (SMEs) to scale and contribute to the economic empowerment of youth and women through job creation and capacity building.

London, United Kingdom, 20 January 2020 – UK companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel.

At an oversubscribed opening ceremony for the 2020 UK-Africa Investment Summit, Monday, attended by dignitaries and delegates from 16 African leaders, including President El Sisi of Egypt, British Prime Minister Boris Johnson made the case for bigger investments in Africa and called for increased and renewed partnership  between  the UK and Africa

Referring to Africa as a booming continent with “staggering levels of growth,” Prime Minister Johnson said:  “Look around the world today and you will swiftly see that the UK is not only the obvious partner of choice, we’re also very much the partner of today, of tomorrow and decades to come,” he said in his opening address.

The UK-Africa Investment Summit, the first of its kind hosted by the UK Government, was attended by foreign secretary, Dominic Raab, the international development secretary, Alok Sharma, and Prince Harry.

The President of Ghana, Nana Akufo Addo, of Kenya, Uhuru Kenyatta, of Mauritania, Mohamed Ould Cheikh el Ghazouani,  African  Development Bank President Akinwumi Adesina, and Secretary of State for International Development, MP Alok Sharma, addressed a plenary panel discussion on ‘Sustainable Finance and Infrastructure – Unlocking the City of London and UK financial services for growth in Africa.’

President Kenyatta who rang the opening bell at the London Stock Exchange (LSE) marking the launch of Kenya’s first green bond at the LSE, made the case for innovative and sustainable investments in energy infrastructure. “We all must think out of the box in terms of energy…to ensure we produce more green energy. This first-ever sovereign green bond of $41.45 million will be used to build environmentally-friendly student accommodation in Kenya.”

Responding to a question about UK-Ghana partnerships, President Nana Akufo-Addo said in a world where Africa’s wealth is undisputed, “the City of London can play a significant role in bridging Africa’s huge infrastructure gap… and LSE can be a pivot in the new relationship with the continent. Indeed, 1 in 4 consumers will live in Africa by 2030,” Akufo-Addo said.

African Development Bank President Akinwumi Adesina announced a new $80 million Bank-DFID infrastructure financing partnership.

According to Adesina, the continent’s $68-$108 billion infrastructure investment gap per year is massive, but it depends on how you look at it. “Either the cup is half empty or half empty. To us, that is a $68-$108 billion opportunity.”

Adesina added, “The issue of risk in Africa is exaggerated. The risk of loss is lower than Latin America. Yet, funds are not being channeled into Africa. “There are $8 trillion of assets under management in London, but only 1 percent is invested in Africa.”

The Bank president urged investors to look to Africa and recalled the achievements of the Africa Investment Forum – a game-changing initiative led by the African Development Bank and key partners, to accelerate investment in the continent. The unique multi-sector platform is designed to advance bankable deals to financial closure. Deals valued at $40.1 billion secured investment interest in 2019 during the three-day event, which took place in Johannesburg, South Africa. 

President Mohamed Ould Cheikh el Ghazouani of the Islamic Republic of Mauritania, sharedopportunities offered by the blue ocean economy and substantial reforms currently under way to attract foreign investors.

“We have reinforced security along our coasts. Other measures include the establishment of a Council on Investment. These huge efforts are showing tremendous results and it is giving comfort to investors,” he noted.

The African continent is home to eight of the 15 fastest-growing economies in the world. By 2020, 42% of the world youth will be African and by 2030, will constitute an incredible workforce and potential consumers.

In his concluding remarks, UK Secretary of State of for International Development, MP Alok Sharma expressed confidence in the continent. “Africa has a fabulous future.” Sharma announced five partnerships to mobilise private sector investment in quality infrastructure on the continent. “The City of London can play a role in mobilizing resources for Africa,” Sharma said.

Speaking earlier, Prime Minister Boris Johnson made a major announcement on the UK’s policy on climate change.

“From today, the British government will no longer provide any new direct development assistance for thermal coal mining or coal power plants overseas,” Johnson said.

The declaration aligns with the African Development Bank’s green agenda aimed at increasing investment in renewable energy. President Adesina announced last year at the UN General Assembly that the Bank was moving away from investing in coal.

*AFDB

By Wallace Mawire

Telecel Zimbabwe (Pvt) has revealed that it has formulated and adopted a five year strategic plan to address recapitalisation issues affecting the company.

 The company has revealed that it would like to assure all its stakeholders and customers, that while the it is facing some challenges, the company is not on the brink of collapse and continues to offer quality service to its customers.

 It is reported that like all other local organisations, Telecel Zimbabwe’s operations have been affected by a host of factors, both macro and micro economic, but attributed mainly to limited funding for the company over a long period of time, in the face of challenging economic conditions in Zimbabwe.

  It is reported that specifically, rapid depreciation of the local currency and the levels of tariffs increases approved, which continue to lag behind inflation, have affected the ability to meet the foreign currency denominated obligations, especially spares for equipment and Service Level Agreements and support.

 It is added that this limited vendor support has resulted in some network disruptions during the festive season, which have since been rectified.

 The company says that in order to mitigate the challenges, the company has been on a very aggressive import substitution and local skills transfer initiative.

  It is areported that the company’s main switching centres are in the industrial area and have been subjected to prolonged power outages which have resulted in the company’s technology operating costs ballooning due to the use of alternative power, particularly diesel, and has in turn affected base station availability in other parts of the country.

 “The Company is in advanced discussions with the power authorities and government officials in the ministry of Energy to ensure a dedicated power line to the switching centres and in addition the company is investing in alternative power solutions such as Tesla solar batteries for its base stations,” the company said in a statement.

 It is added that the company and other industry stakeholders continue to engage all the relevant authorities to ensure that the tariffs are adjusted in line with the cost movement of other basic operational costs.

 It is added that the Telecel board and shareholders are aware of the ongoing challenges.

 It is added that the finalisation of all  outstanding financial statements is on course and it will open avenues for new funding from financial institutions.

 It is reported that the business continues to focus on ensuring that it offers the most affordable service to its customers in light of the depressed consumer disposable incomes.

By Samuel Ouma|@journalist_27

Co-operative Bank of Kenya has announced that it will pay school fees to over 600 needy and gifted form one students.

According to the Bank’s Managing Director Gideon Muriuki, the institution has set aside $1.55 million for the programme under the Co-operative Bank Foundation Scholarship Scheme in 2020. Mr. Muriuki revealed that 420 beneficiaries have been identified by the bank’s Regional Delegates’ Forums and the remaining scholarships were awarded to 5 students per county across the country which brings the total number of beneficiaries to 655. The scholarship with cater for their secondary education.

1,088,986 students sat for 2019 Kenya Certificate of Primary Education (KCPE) and all of them are expected to join form to pursue their secondary education latest by January 24 in line with the government’s new policy of 100 per cent transition from primary to secondary school.

Announcing KCPE results in November last year, Kenya’s Education Cabinet Secretary Prof. George Magoha warned parents against failing to take their children to school.

He said, “We shall go after parents and they will tell us why the children are not in school. If we find the children, we will take them to school ourselves and we will do if forcibly.”

 “We will go for parents of children who have been married off and forcibly take the children to school to ensure that all class eight candidates transit to secondary school,” added the tough-talking Magoha.

The 100 per cent transition may not be realized going by the reports by the local media of poverty stricken students whose parents cannot afford secondary school fees. Many students are yet to report to their respective schools as the deadline looms.

By Wallace Mawire

Zimbabwe Civil Society Organisations Scaling Up Nutrition Alliance (ZCSOSUNA) formed  in July 2013 with the aim of providing a platform for Civil Society Organisations (CSOs) in Zimbabwe to contribute to the global Scaling Up Nutrition (SUN) initiatives  is concerned that there is no substantial report to provide information on the progress that has so far been made on nutrition issues in the country.

  According to Kudakwashe Zombe, ZCSOSUNA National Coordinator, according to the  Global Nutrition Report 2019, Zimbabwe has made progress in meeting its 2013 commitments but there were challenges in assessing the progress due to language which was not clear and specific and also the tracking systems and capacity to track the progress was poor.

 “It is against this background that we as the civil society are calling on the government to seize this perfect opportunity presented by Japan Nutrition for Growth 2020 Summit to make commitments which are Specific, Measureable, Achievable, Realistic and Time-bound (SMART) and rejuvenate the fight against malnutrition,” Zombe said.

  The alliance is made up of several international, regional, national and community based organisations and networks working in various areas including nutrition sensitive programs, WASH programs, livelihoods, small-holder farmers, human rights defenders, women’s groups, humanitarian aid assistance agencies, advocacy and research entities, consumer groups and many others.

  According to ZCSOSUNA, the year 2020 presents a perfect opportunity for the Zimbabwe  government to renew its commitment towards the fight against malnutrition in all its forms.

  It is reported that in December this year, governments of several nations with support from the Japan government will convene and take stock of previous Nutrition For Growth  (N4G) commitments and the same platform will be used to renew and make new commitments towards improving the nutrition status of citizens.

  It is added that the Tokyo N4G summit provides a historic opportunity to transform the way the world tackles malnutrition. The summit signals the beginning of a new race toward a healthier, better-nourished future, a race to end malnutrition in all its forms in all countries and Zimbabwe cannot be left out, according to ZCSOSUNA.

  It is added that this comes at a critical time, with only five years to achieve the World Health Assembly targets on Maternal, Infant and Young Child nutrition and 10 years to reach the SDGs.

  It is reported that the commitments to be made at the summit will focus on the following core areas, health, food, resilience, promoting data-driven accountability, securing new investment and driving innovation in nutrition.

  “As the country’s Civil Society Alliance in Scaling Up Nutrition, we applaud the government of Zimbabwe for making a commitment during the 2013 London Nutrition for Growth Summit, the commitment was aimed at putting nutrition at the centre of the country’s development agenda and making good nutrition one of the top political priorities as a way of facilitating increased domestic financing for nutrition,” Zombe said.

   The government has been urged to formulate SMART commitments which are in line with the summit’s core areas namely health, food, resilience, promoting data-driven accountability, securing new investment and driving innovation in nutrition and  to periodically report on progress made in honouring the 2020 commitments. 

  ZCSOSUNA says that good nutrition is a basic need for everyone, everywhere.

  The alliance also adds that imagine a world where all women and children have the nutrition they need to live healthy, productive lives, nurturing their families and communities and putting the world on a path towards greater economic prosperity.

  It is added that nutrition fuels  ambitions such as  for children to go to school ready to learn, stay in school, and go on to better jobs. Nutrition fuels  health, providing the foundation for the well-being and that of future generations. Nutrition also  fuels  progress, investing in  collective brainpower meaning a more productive workforce and thriving economies.

  It is also added that nutrition fuels the Sustainable Development Goals (SDGs), averting malnutrition will help achieve at least 12 of the 17 SDGs and help create a healthy, prosperous, and stable world in which no one is left behind.

 ZCSOSUNA says that investing in nutrition is also one of the best buys in global health and development: for every $1 invested in nutrition, $16 is returned to the local economy.

  The alliance adds that the Tokyo Nutrition for Growth (N4G) Summit provides a historic opportunity to transform the way the world tackles the global challenge of malnutrition. The Summit continues the N4G legacy and signals the beginning of a new race towards a healthier, better-nourished future, a race towards ending malnutrition in all its forms in all countries.

  “This requires ensuring that all people, including the most vulnerable, have access to safe, affordable and nutritious food by 2030, as called for by the SDGs,” ZCSOSUNA said.

Tarek spent 25 years at Citibank, most recently as the Head of Corporate and Investment Banking for North Africa, Egypt and Levant, managing teams across 6 countries in the MENA region

DUBAI, United Arab Emirates, January 20, 2020/ — Mashreq (https://www.Mashreqbank.com/), one of the leading financial institutions in the UAE, has appointed Tarek El Nahas as its new Head of International Banking Group.

Tarek spent 25 years at Citibank, most recently as the Head of Corporate and Investment Banking for North Africa, Egypt and Levant, managing teams across 6 countries in the MENA region. He has held several senior roles in Egypt, Algeria and the UAE and has extensive experience across a wide range of disciplines, including corporate finance, investment banking, derivatives and structured products, commercial banking and corporate banking. Tarek’s wholesale banking experience extended to working with large corporates, financial institutions, sovereigns and the public sector. Tarek has a BA in economics and political science from the American University in Cairo and a MSc in economics from the London School of Economics.

Commenting on the appointment, Ahmed Abdelaal, CEO, Mashreq Bank, said, “I am delighted to welcome Tarek to the Mashreq family. Our legacy has been built upon a commitment to developing our leadership capabilities and as we look to grow our international presence Tarek’s experience will be invaluable.

“Tarek will take over from Jan-Willem Sudmann later this month. Jan played a pivotal role in the success of Mashreq’s international banking story for the last 4 years. We wish Jan good luck and gratitude for his service to Mashreq.”

Tarek El Nahas, added: “I am excited to be joining Mashreq. Mashreq is recognized for innovation and service excellence and with my regional experience, I look forward to collaborating closely with my new colleagues to enhance the banks customer experience and creating further inroads to the international business group for Mashreq.”

About Mashreq:
One of the UAE’s best performing banks for five decades, Mashreq (https://www.Mashreqbank.com/) is a leading financial institution with an expanding footprint across the Middle East. We have international offices across Europe, Asia, Africa and the US, and a strong presence in all the financial capitals of the world.

As the oldest bank in the UAE, our 51-year old journey can be traced back to humble beginnings in 1967, followed by periods of rapid growth and strategic expansion. Throughout our history, Mashreq has differentiated itself by pioneering new-to-market concepts and launching unique products and services.

Our innovative approach sets us truly apart. It also continues to win us numerous awards and accolades in all the fields of banking we operate in – Digital, Corporate, Retail, International, Treasury and Islamic, and across the multiple banking channels we deploy – mobile, digital, online, traditional and telephony.

Mashreq is proud to be the only institution in the UAE to be awarded the Gallup Great Workplace Award for six consecutive years from 2014 to 2019.

The refinery is on schedule for inauguration in May 2020

MALABO, Equatorial Guinea, January 20, 2020/ — The leadership of Waltersmith Petroman carried out a site visit of the Watersmith Modular Refinery being constructed in southeastern Nigeria with H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea as its guest.

Developed by Waltersmith Petroman Oil in partnership with the Nigerian Content Development and Monitoring Board, the modular refinery embodies Africa’s efforts to generate local value by refining its own oil at home. The refinery is on schedule for inauguration in May 2020, time when its phase 2 will start to boost refining capacity from 5,000 bopd to 30,000 bopd.

The refinery is also a path opener for many Nigerian operators of marginal fields, demonstrating how the exploitation of smaller assets such as Waltersmith’s Ibigwe field can generate value from upstream to downstream and help African nations meet their energy security agenda.

“I am truly impressed by the nature and advancement of this project,” declared H.E. Gabriel Mbaga Obiang Lima during his visit of the site. “I share our industry’s belief that it is high time for Africans to start refining and processing our own crude at home to maximize our energy security, create local jobs and add value to our economies. Creating the right public-private partnerships will be of great benefit to all of countries and business leaders. I salute Waltersmith Petroman for the work they do here.”

Equatorial Guinea is currently rolling out its Year of Investment initiative, which is attracting investment across several projects from upstream to downstream. These notably include a goal of building two refineries on Bioko island and in Bata (Mainland) to serve the domestic and regional market.

During his visit, H.E. Gabriel Mbaga Obiang Lima also confirmed his participation and attendance at the upcoming Nigeria International Petroleum Summit, set to take place in Abuja on February 9-12, 2020.

*Africa Energy Chamber

The delegation from Equatorial Guinea met with several Nigerian executives from the Africa Finance Corporation, Polaris Bank, Sterling Bank, First Bank, UBA and Zenith Bank

MALABO, Equatorial Guinea, January 20, 2020/ — In line with its commitment to attract regional capital investment into the country, H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, met with high-level Nigerian investors, bankers and financiers to discuss the opportunities offered by the country’s Year of Investment initiative.

The delegation from Equatorial Guinea met with several Nigerian executives from the Africa Finance Corporation, Polaris Bank, Sterling Bank, First Bank, UBA and Zenith Bank but also captains of the industry such as Simbi Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board.

Such discussions with all the leading figures who have been a true engine of growth for the Nigerian economy is essential as Nigeria continues to be Africa’s largest economy. Minister Obiang Lima presented key opportunities for them to expand their portfolio by investing in Equatorial Guinea. The Equatorial Guinea delegation also listened to their expectations on investing in Equatorial Guinea, while advising Nigerian businesses on the latest development and opportunities offered to African investors within the country’s rapidly developing oil and mining sectors.

A clear consensus came out of the discussions that only Africans can fully develop Africa while working with other partners coming from Asia, the Middle East, Europe and North America.

“Equatorial Guinea’s mission is to cut the dependence on foreign imports. It is important to boost local entrepreneurship, energy security and using our products to grow the local economy while engaging the regional market,” declared Minister Obiang Lima.

As such, H.E. Gabriel Mbaga Obiang Lima committed to using Nigerian expertise to develop local content in Equatorial Guinea and also work with Nigeria on gas-related matters, oil market stabilization with OPEC, and industry coordination through APPO. “The great relationship that has existed between H.E. President Muhammadu Buhari and H.E. President Obiang Nguema Mbasogo has really opened many doors for us. We don’t take this engagement lightly and we must deliver. More than before, I am optimistic that we are going to have better collaboration and sign deals that will improve the lives of Nigerians and Equatorial Guineans and ensure our relationship reaches new heights,” added H.E. Gabriel Obiang Lima.

In that regard, Minister Obiang Lima confirmed his participation and attendance at the Nigeria International Petroleum Summit, set to take place in Abuja on February 9-12, 2020.