L-R: Brent Omdahl, U.S Commercial Counsellor, Otunba Oluwatoyin Akomolafe, President, Nigerian-American Chamber of Commerce (NACC), Dr Lazarus Angbazo, Chief Executive Officer, General Electric (GE) Nigeria, Russell Brooks, Public Affairs Officer, U.S Consulate, and Ms Joyce Akpata, Director-General, Nigerian-American Chamber of Commerce (NACC), .
Dr Lazarus Angbazo, President, American Business Council (ABC), on Wednesday said that American companies spent about N1.5 billion on Corporate Social Responsibility (CSR) projects in Nigeria in 2017.
Angbazo, who is also the Chief Executive Officer, General Electric Nigeria, spoke in Lagos at the November Edition of Breakfast Meeting of the Nigerian-American Chamber of Commerce (NACC).
Theme of the meeting was: “Beyond Business: The Social Impact of American Businesses in Nigeria.”
“ U.S companies spent N1.5 billion on Corporate Social Responsibility (CSR) from N217 million spent in 2016.
“The focus areas are Education, Health, Infrastructure and Social intervention, which are key area of focus for U.S companies in Nigeria,” he said.
According to him, the notion of social impact goes beyond philanthropy and volunteerism, saying that value chain development through SMEs is the way to lift a country economically.
“Asides providing direct employment in Nigeria, we are actively developing SMEs to be part of our supply chain, because SMEs cannot grow without the experience, capacity and off take support of global companies.
“We get to spread inclusivity in the economy because local companies will hire from their local communities and they will specialise in that area; that is the way to think about long term sustainable industrialisation,” he said.
Angbazo said that over N1.6 billion was expended on training and development in 2017 from N340 million in 2016, which shows U.S companies commitment in capacity building to correct the deficit in Nigeria’s labour skills.
He said that U.S companies created about 11, 200 indirect jobs and over 9, 000 full time jobs in 2017 toward reducing Nigeria’s unemployment rate.
Also, Brent Omdahl, a U.S Commercial Counsellor, said that the advice of U.S Government to potential and existing companies to Nigeria and Africa was to utilise the solution-based approach in their investment strategy.
Omdahl said that investment should not be profit centered alone, but on impacting the socioeconomic landscape of the host economies through value addition, job creation, technology transfer and skills upgrade.
Mr Adil Farhat, the Managing Director, Procter & Gamble, said that the company had been in Nigeria for over 25 years and working assiduously to ensure that its various brands have positive socioeconomic impact on all sectors of its operation.
Farhat said that P&G trained over 100 SME operators in business development, products expansion and profit enhancement strategy to boost SME development.
Also, Mr Innocent Chukwuma, the Director, West Africa, Ford Foundation, said that the foundation does catalytic investment in areas that large organisations would not venture into.
“Our grant support of 150,000 dollars to drive social impact and enhance productivity of Made in Nigeria products among Aba leather manufacturers made Bank of Industry (BoI) to commit N400 million to support the project,” he said.
Chukwuma said that the foundation would embark on one billion dollar mission support projects to provide finance at below one per cent to entrepreneurs in the areas of affordable housing and renewable energy.
Earlier, Otunba Oluwatoyin Akomolafe, President, Nigerian-American Chamber of Commerce (NACC), said that it was becoming clear that the traditional ways of solving problems through government alone was not effective.
He said that global companies were challenging the notion of profit first, saying that while profit making was good, the social impact was more beneficial to transform citizens, communities and socio-economic development. (NAN)
Shell Delivers N150M Capacity Development Programme For Bonny Youths
Apr 14, 2019: No fewer than 12 young entrepreneurs from host communities to the Bonny Oil and Gas Terminal in Rivers State have benefitted from a N150 million capacity development and empowerment programme by The Shell Petroleum Development Company of Nigeria Limited (SPDC).
SPDC’s General Manager, External Relations, Igo Weli, who handed over the service entry and final settlement to the beneficiaries in Port Harcourt described the initiative as a product of continuous effort by SPDC and its joint venture partners to empower youths, promote Nigerian content and support community participation in Nigeria’s oil and gas value chain.
Weli said, “Developing local skills, talent and contracting capacity in the Nigerian oil and gas industry is very important to SPDC and its partners. That is why we have continued to embark on programmes and projects that have sustainable impact on our host communities and the Nigerian economy. “This is a demonstration of how much benefit a conducive business environment and cordial relationship between host communities and industry players can bring to the people.”
Weli commended the beneficiaries for their industry and determination to champion entrepreneurial rebirth among youths on Bonny Island. He encouraged the beneficiaries to always keep an optimistic business mindset and to translate the opportunities into further empowering others.
The capacity development initiative included one-year vocational training, and obtaining Level 1 City and Guilds certification. The beneficiaries also received equipment and materials worth over N50million in addition to start-up grants.
One of the beneficiaries, Christopher Irimagha, described the opportunity as ‘life-changing’. “The training has been beneficial in positioning us for success in our community.”
This initiative is in addition to SPDC’s 16-year-old Shell LiveWIRE, a flagship enterprise development programme designed to help young people explore the option of starting their own business as a real and viable career option. It provides training, finance, and business mentorship for young entrepreneurs.
Launched in Nigeria in 2003, Shell LiveWIRE has produced thousands of Niger Delta entrepreneurs most of whom are now employers of labour. Some of the beneficiaries are also given the opportunity to play in SPDC’s supply chain as vendors and are provided with access to growth capital.
HealthPoint Promote Health Inclusion For Widows And Orphans In Nigeria
As part of its vision to promote health care inclusion for all in Nigeria and Africa as a whole, Healthpoint has commenced its free health insurance cover for widows, orphans and the less privileged in Nigeria.
Healthpoint is Nigeria’s first on-demand health plan retailer providing health insurance plans at an affordable rate using the monthly subscriptions model.
The exercise which took place recently is one of the startup’s efforts to promote health inclusion, redress health and social inequalities in the country by providing affordable and effective health intervention for the underserved and marginalized population in Nigeria and beyond. This year’s beneficiaries sprang from four orphanages; vulnerable children care homes as well as widows in Nigeria.
The free health insurance which covers a period of one year will cater for the medical consultations, treatments, tests, prescriptions and drugs of the beneficiaries.
Speaking at the event, the Chief Executive Officer, Mrs. Kemi Ayinde stated that the exercise is part of its mission to ensure that everyone in spite of their pocket size is able access proper health care and medical attention when needed.
The startup which is only a few months old provides healthcare solutions right at your fingertips for as low as ₦800 monthly. The Healthpoint app also offers various unique health services like the Doctor-on-Call Service that allows subscribers contact medical specialist for quick consultations, book appointment and follow-ups from anywhere around the world.
With just six months gone since its establishment, Healthpoint is leading the campaign to promote Health inclusiveness and implement innovative health finance solutions that accommodates everyone from all social levels in Nigeria and Africa as a whole.
BHGE contributes to Mozambique Cyclone Relief Efforts with $50,000 donation to victims
The donated sum made to Red Cross Mozambique, will support relief and victim support expenses such as food, water, shelter, medical supplies and other essentials
MAPUTO, Mozambique — Both companies supporting relief efforts in the most affected locations; Employees also providing support by donating necessities.
MAPUTO, Mozambique, March 27, 2019/ — Both companies supporting relief efforts in the most affected locations; Employees also providing support by donating necessities.
Baker Hughes, a GE company (NYSE: BHGE) (BHGE.com) announced today its donation of $50,000 to the ongoing disaster relief efforts in Mozambique, in the wake of Cyclone Idai, which devastated large parts of Mozambique, Zimbabwe and Malawi on March 14, 2019.
The donated sum made to Red Cross Mozambique, will support relief and victim support expenses such as food, water, shelter, medical supplies and other essentials. Likewise, employees have made individual contributions of funds and essentials to support ongoing relief efforts.
In expressing his condolences, Ado Oseragbaje President & CEO, BHGE Sub-Saharan Africa said “it is heartbreaking to see the scale of devastation wrought by the cyclone on innocent lives, particularly in Mozambique. With this contribution to the Red Cross purse, we are complementing efforts to help the affected communities get back on their feet.”
In addition, Farid Fezoua, President & CEO GE Africa stated: “Given our established presence in the country, we share in the deep pain of the people of Mozambique and in particular, the communities directly affected by the cyclone. We stand with them at this difficult time” he added. “We hope this donation helps provide the needed support for the people affected.”
BHGE has operated in Mozambique since 2014 with offices in Maputo and Pemba. Through the extensive supply chains, the company, directly and indirectly, employs several Mozambicans. Also, as champions of localization, BHGE invests heavily in the empowerment, skills development and transfer across multiple economic sectors.
– GE Africa
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