The African Development Bank (www.AfDB.org) has invested $1.44 billion to support the development of energy and power, transport, water, and sanitation infrastructure in Nigeria.

The Bank’s Nigeria Country Department, Director General Lamin Barrow disclosed this at the Nasarawa Investment Summit 2024, held from 15 – 16 May in Lafia, the Nasarawa State capital. The event was attended by local and foreign investors, representatives of the private sector, and senior government officials.

Acknowledging the resonance of the Summit theme against the backdrop of turbulence in the global economy, Barrow noted that Nasarawa State, and indeed Nigeria, face a huge infrastructure deficit, inhibiting the country’s efforts to diversify its non-oil production and achieve international competitiveness for exports.

According to the 2020 National Integrated Infrastructure Master Plan, Nigeria requires, between 2020 and 2043, total infrastructure investments estimated at $2.3 trillion, to raise its infrastructure stock to the international benchmark of 70% of GDP. The energy sector alone will require $759 billion, while the transport sector needs $575 billion.

“To address this problem, the African Development Bank is supporting the federal and state governments to improve the national and states’ infrastructure. As of April 2024, 31 percent of the Bank’s active portfolio, valued at $1.44 billion, is supporting infrastructure development in Nigeria,” Barrow said in a speech he read on behalf of the Group’s President, Dr. Akinwumi Adesina.

To achieve industrial renaissance, Nasarawa State and Nigeria must accelerate domestic resource mobilization; boost agriculture sector productivity; develop value chains and supportive infrastructure; enhance de-risk investments; prioritize natural resource value addition and beneficiation; strengthen institutional capacity and bridge the skills mismatch to enhance youth employability, he said.

“Nasarawa is known for its huge potential in agriculture, particularly its organized commodity aggregation system, which ensures the marketability and traceability of produce. It is reassuring to note that Nasarawa is prioritizing the development of agricultural value chains for key commodities such as sesame, rice, and ginger. “

Dr. Doris Nkiruka Uzoka-Anite, Minister of Industry, Trade and Investment, representing Nigeria’s President, Bola Ahmed Tinubu, opened the summit. She said the country was proud of Nasarawa State, particularly for the positive strides it had made in the mining sector.

“Nasarawa State has shown great vision in ensuring that their vast lithium deposits are developed and processed, ensuring that raw materials are not exported out of this country without any value addition, in line with the renewed hope agenda,” she said.

In his welcome remarks, the Nasarawa State Governor, Abdullahi Sule, thanked the African Development Bank for its continued support for the industrial and sustainable economic development of the state.

The African Development Bank has financed the construction of the Keffi and Akwanga water supply schemes in Nasarawa, comprising intake works, pumping stations, a 62,850 m3/d treatment plant, 19.9 km of transmission pipes and 42 km of distribution pipes, as well as service reservoirs, drainage, and buildings.

The state is under consideration for participation in Phase II of the Special Agriculture Processing Zone (SAPZ) program in Nigeria. https://apo-opa.co/3wMbTmz

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media contact:
Chukwuemeka Francis Ezekiel,
African Development Bank Nigeria Country Department (RDNG) 
media@afdb.org

About the African Development Bank Group: 
The African Development Bank Group (AfDB) is the premier multilateral financing institution dedicated to Africa’s development. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NSF). The AfDB has a field presence in 41 African countries, with an external office in Japan, and contributes to the economic development and social progress of its 54 regional member states.

By Fhulu Badugela, MultiChoice Africa CEO (www.MultiChoice.com).

As we mark Africa Day, people and organisations commit themselves to making a positive difference for the continent. Building a business model that improves lives is the most effective way to achieve this, writes MultiChoice Africa CEO Fhulu Badugela.

As the continent celebrates Africa Day on 25 May, two business priorities come into sharp relief; Businesses must remain profitable to survive, but they must also deliver a net benefit for society.

A unifying purpose

At MultiChoice Africa, we strive to achieve this balance by aligning around a single unifying goal – enriching lives. It’s at the heart of our value proposition of delivering entertainment and services to our customers through technology.

While we aim to be the entertainment platform of choice for African households, we also want to enrich their lives by making a significant contribution to economic development, in the spirit of Africa Day.

MultiChoice also enriches lives through our role in developing Africa’s contemporary cultural heritage, having been entertaining, informing and empowering African communities for more than 30 years.

We also continue to offer value to our customers by using the latest technology to enhance accessibility, and boosting the number of platforms we offer as we develop our hyperlocal strategy of authentic African content for African audiences.

Authentic storytelling

Developing that content allows us to reshape the African narrative through the stories we tell. Through our hyperlocal approach, we not only develop film and television industries in multiple African markets, we also allow African people to see their stories told by their own people in their own languages.

After 38 years’ operating across the continent, MultiChoice Africa now produces more than 6 000 hours of local content a year, in 40 languages, across 50 countries, reaching more than 100 million people every day.

Our 17 local channels share homegrown shows, in regional languages, on platforms like Africa Magic, Mzansi Magic, Akwaaba Magic, Maisha Magic, Pearl Magic Prime, Abol TV, Kwenda Magic, Maningue Magic and Zambezi Magic.

This has significant cultural and psychological impact. It’s hard to quantify how much it improves someone’s quality of life, when they see their own culture, values and aspirations reflected in the content they consume.

Smash-hit local shows across the continent not only create opportunities for local filmmakers and actors but has also help to showcase African stories on a global platform.

Recent successes have included family drama Sinia, crime drama Danga and Tuko Talk on Tanzania’s Maisha Magic Plus. In Kenya, the Showmax Original crime procedural Crime and Justice is highly popular, while Uganda’s Pearl Magic Prime features drama series Chapterz.

On Zambezi Magic, Wanilata is a reality dating show; while Our Perfect Wedding Zambia is a staple on ONEZED, alongside telenovela Ubuntu, with Adey and Zuret providing riveting drama on Ethiopia’s Abol TV.

In West Africa, the Akwaaba Magic channel in Ghana is the home of the popular Dede, the story of a naive rural teenager, while Africa Magic channels feature appointment-viewing successes like Date My Family Nigeria and Idols Nigeria.

In Southern Africa, locally produced hits include Zuba and Ten Tamanga Street on Zambezi Magic, O Rio Mahinga on Kwenda Magic, and Maida, Date My Family and Our Perfect Wedding Mozambique on Maningue Magic.

We also strive to ensure we have a pipeline of talented, qualified African creators entering our industry, by investing in training and development through our pan-African MultiChoice Talent Factory (MTF) Academies. 

Multiplier effects

Our group’s content investments have had major economic multiplier effects on the continent, employing 3 042 full-time staff, and making R5.1bn in total tax contributions.

In Nigeria, the Africa Magic channel now produces 700-1 000 hours of original content every year, and buys even more independently produced local content through its online content-licensing portal. 

Across the continent in Ethiopia, MultiChoice has commissioned and licensed more than 138 Ethiopian films and TV shows within two years, for its hyperlocal Abol channels. In Botswana, MultiChoice has delivered local shows alongside MTF skills-transfer partnerships with the Botswana Department of Broadcasting Services.

Longevity through alignment

In every market, MultiChoice Africa also makes a material contribution to the economy through tax revenues, investments in broadcasting technology and sponsorships of local sports leagues, such as SuperSport’s coverage of Zambia’s MTN Super League.

MultiChoice maintains a strong market position due to its established brand presence, extensive content library, and investment in local programming. Our focus on innovation and customer satisfaction has seen us build resilience in a rapidly evolving media landscape.

If there is a learning in this, it is that when the interests of all stakeholders are aligned, then better business makes for better lives. As we once more mark Africa Day, we look forward to continuing to provide Africa with quality entertainment content, and opportunities, in ways that improve lives.

Distributed by APO Group on behalf of MultiChoice Group.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (http://ICIEC.IsDB.org), a Shariah-based multilateral insurer and a member of the Islamic Development Bank (IsDB) Group is pleased to announce the appointment of Dr. Khalid Khalafalla as Officer-in-Charge, effective 19 May 2024.

Dr. Khalafalla brings a wealth of experience and expertise to this role, having served in various capacities within the Islamic Development Bank (IsDB) Group. Most recently, he was the Principal Executive Assistant to H.E. President of IsDB. Prior to that, he served as Lead Underwriter at ICIEC as well as Acting Head of the IsDB Group Investment Promotion Technical Assistance Program (ITAP).

The ICIEC family congratulates Dr. Khalafalla on his new appointment and looks forward to his leadership in advancing the Corporation’s strategic goals.

Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

Media Contact:
Rania Binhimd
Strategic Planning and Communications Division
Email: Rbinhimd@isdb.org

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About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):
ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is uniquely the only Islamic multilateral insurer in the world. It has led from the front in delivering a comprehensive suite of solutions to companies and parties in its 49 Member States. ICIEC, for the 16th consecutive year, maintained an “Aa3” insurance financial strength credit rating from Moody’s, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. Additionally, ICIEC has been assigned a First-Time AA- long-term Issuer Credit Rating by S&P with Stable Outlook.  ICIEC’s resilience is underpinned by its sound underwriting, reinsurance, and risk management policies. Cumulatively, ICIEC has insured more than US$ 108 billion in trade and investment. ICIEC activities are directed to specific sectors – energy, manufacturing, infrastructure, healthcare, and agriculture. For more information, visit: http://ICIEC.IsDB.org

The 8th annual African Property Investment Awards (API Awards) (www.APIEvents.com) are now open for entries. This prestigious platform recognises excellence in the African real estate industry. This year, for the first time, the #APIawards will be open to entries from South Africa.

The awards, which will be presented at the API Summit on 19 and 20 September 2024 at the Westin Hotel in Cape Town, are open to developers, professional teams, consultants, suppliers, and property owners across Africa.

The API Awards offer significant benefits to winners and finalists.

Murray Anderson-Ogle, GM of marketing and commercial at API Events, says, “We are thrilled to open the 8th annual API Awards. The awards are not only about recognising the best projects and individuals in the African real estate industry, but they are also about celebrating the innovation, dedication, and expertise that drive the industry forward. We are excited to open them out to South African entries in 2024. API is proud to provide a platform that highlights the very best of African property with these esteemed peer-reviewed awards that are a symbol of excellence that money simply can’t buy!”

The awards encompass a wide range of categories, each one significant in its own right, reflecting the vast property industry. These include the best developments for shopping malls — both larger and smaller than 15,000sqm, residential —both high-end and affordable, mixed-use, office, and hotel. There is also a unique category that pits industrial, logistics and alternative real estate assets such as healthcare, data centres and education against each other, showcasing the diversity of our industry.

Acknowledging the key roles that innovation, technology and service play in real estate, there are awards for banks, co-working operators, and property services. The best transactions and occupier deals will also be recognised. Shining a spotlight on the industry’s extraordinary talent, there are awards for Top Real Estate CEO, Young Property Person and Woman in Real Estate, and the ultimate Lifetime Achievement Award.

For previous winners, the recognition has been transformative.

Mikayla Benkenstein, CEO of Hodari Africa, who won the Young Property Person of the Year award in 2023, says, “The award has significantly enhanced both the visibility and credibility of Hodari Africa and myself within the industry. This accolade serves as a powerful endorsement of our expertise and dedication, instilling confidence in current and potential clients alike. The recognition has opened doors to new opportunities and expanded our network, which may not have been possible otherwise. Moreover, it has provided a valuable platform to advocate for causes close to my heart, such as empowerment and inclusivity, particularly focusing on inspiring young people, especially women, to chase their dreams.”

Craig Hean, Manging Director of Advisory&Transaction Services at CBRE | Excellerate, says, “Winning the 2023 API Award for Best Property Service Provider in Africa has significantly boosted CBRE’s reputation in the markets where we operate. Both our extensive client base and our competitors note and value API events, making this award especially impactful. Showcasing our award has reinforced our position as a premier service provider across Africa. We believe that the visibility and recognition garnered from this prestigious award are a testament to our meticulous effort in crafting a comprehensive submission highlighting our business achievements throughout the year.”

Wayne Troughton, Chief Executive Officer of HTI Consulting, a past winner and a member of this year’s awards judging panel, adds, “It’s great to be a part of the API Annual Property Awards for another year. They are the pre-eminent awards on the continent, recognising excellence in all aspects of property development. Winning an award has increased our exposure and has recognised and validated our commitment to the continent and to excellence.”

Tim Harlech-Jones, Managing Director of Bentel Associates International, emphasises the importance of adaptability and sustainability in the judging criteria. “As a judge in the API Awards, it’s crucial to adapt and refine our criteria to reflect the evolving landscape of the industry. I’ll be looking for projects which showcase innovative approaches to address challenges or capitalise on emerging market opportunities within the African, as well as the specific South African, contexts. This could include innovative design concepts, sustainable practices, or even creative financing models or solutions.”

Anderson-Ogle concludes, “We encourage everyone to submit their best work for a chance to be recognized among the best in the industry and we can’t wait to showcase the finalists at the #APISummit2024.”

Entries for the API Awards 2024 can be submitted via link https://apo-opa.co/3yvwfkA. Entries close on Monday, 1 July 2024.

Distributed by APO Group on behalf of API Events.

For any media enquiries or interviews, kindly contact Anne Lovell via anne@dmix.com or 083 651 7777

Distributed for API Events by Dmix:
API Events
Murray Anderson-Ogle
Email: Murray@apievents.com
Contact: +27 71 890 77 39

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