United Bank for Africa Plc Head Office, Lagos Nigeria (Source UBA Plc)
United Bank for Africa Plc (UBA), the leading pan-African financial services institution, announced the appointments of Rokia Hacko, Chioma Mang, Chinedu Obeta, Bode Aregbesola, Kingsley Ulinfun and Usman Isiaka as chief executive officers of six of its 20 subsidiaries across Africa, subject to regulatory approvals. The new CEOs will drive the Group’s strategy and activities in Mali, Uganda, Zambia, Senegal, Tanzania and Sierra Leone respectively.
In addition, Ogechi Altraide has become the new Head, Retail Banking; Amadao Konate, Head, Treasury & International Payments for UBA America. These international appointments compliment the prior appointments of Sola Yomi-Ajayi as the CEO of UBA America, and Patrick Gutmann as the CEO of UBA UK. UBA provides a full suite of corporate banking products and services to businesses, multilateral institutions and governments transacting from and with Africa.
Earlier this month, UBA announced the appointment of Ayoku Liadi and Oliver Alawuba respectively, as Deputy Managing Directors in charge of the Group’s Nigeria and Africa businesses, attesting to the importance of UBA’s African business and its strategic positioning as “Africa’s Global Bank”.
UBA Group Chairman, Tony O. Elumelu, stated “The appointments further reflect the strong growth of the Group’s pan-African businesses, currently responsible for over 40% of total Group revenue and the increasing importance of our international businesses in London, Paris and New York, offering superior treasury, trading and corporate banking solutions to clients globally. We are committed to catalysing growth on the African continent and the new CEOs are taking up roles at a very exciting period, as the Group executes its innovative digital play across the African continent”.
Also announced were the appointment of three new country Executive Directors – Haoua Cisse as the Executive Director, Wholesale, UBA Mali and Julien Kouassi as Executive Director Wholesale, UBA Côte D’Ivoire.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with over 20,000 employees group wide and serving over 20 million customers, across its approximately 1000 branches and over 30,000 ATMs, PoS, and agencies in Africa. Operating in 20 African countries and globally in the United Kingdom, the United States and France, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge products, including the first ever banking chat bot in Africa, LEO.
Issued by: UBA Group Plc
SSC Capital Tanzania teams up with World’s first Halal angel network to tap the fast growing African Market
SSC Capital Founder & CEO, Salum Awadh (Source: Halal Angels Network)
Halal Angels Network is among the first to penetrate the $5 trillion Halal consumer market has teamed up SSC Capital of Tanzania to tap the fast growing African market.
According to Brookings Institute “More than 80 percent of Africa’s population growth over the next few decades will occur in cities, making it the fastest-urbanizing region in the world. In total, we expect annual spending by African consumers and businesses to reach $6.66 trillion by 2030, up from $4 trillion in 2015.
Halal Angels Network was launched to promote innovation, entrepreneurship and start-ups, and inspire investors across the world to tap into a sector that will be worth $9.71 trillion by 2025 (Reuters, 2019).
The angel network is adopting new, innovative technology to digitise the way they present, distribute and manage Halal-based deals. In doing so, angel investors will benefit from greater access to deal flow which can be profiled based on their interests, risk appetite and current portfolio.
Salum Awadh, Founder & CEO, SSC Capital said that “Opportunities for investing in game-changing start-ups are ever increasing, we currently see many solutions by entrepreneurs coming to the market with disruptive and high-growth potential business models. But all this will be massive if these entrepreneurs get the right investment, with the right mentorship, at the right time. The Halal Angels Network and SSC Capital are forming this great potential partnership, sharing decades of industry experience and exposure, and we are hopeful that it will also change the landscape of halal angel investing globally.”
Dr Tausif Malik, Founder of Halal Angels Network, said: “With over 1.5 billion Muslims in the world, the Halal industry offers tremendous opportunities across the Middle East, North Africa and South Asia. Based on the available data & research we focused on signing up our first partnership in Africa with SSC Capital.”
He further added that we felt that SSC Capital was the right partner to tap the East African Startup and Halal market.
Both Halal Angels Network and SSC Capital work together to co-host events in Africa, help connect investors with businesses, entrepreneurs, startups and offer consulting services.
Halal Angels Network is now calling for angel investors countries to join them and discover over 1,000 investment opportunities within the flourishing market – from pharmaceuticals and modest fashion through to food and tourism. Recently Halal Angels Network had tied up Fintech major Delio to use their digital platform showcase Halal-based deals to a much more international audience, connecting angel investors across the world not just with deals, but also with each other.
African Infrastructure Investment Managers appoints Vuyo Ntoi and Sola Lawson as new co-CEOs
African Infrastructure Investment Managers new co-CEOs, Vuyo Ntoi and Sola Lawson (Source: AIIM Africa)
London and Cape Town, 3 August 2020: African Infrastructure Investment Managers (AIIM), a member of Old Mutual Alternative Investments and Africa’s most experienced infrastructure manager, has appointed two joint-managing directors to be based in Cape Town and Lagos, following the retirement of the company’s previous CEO.
Vuyo Ntoi and Sola Lawson, have been appointed from within the business, and will continue to sit in their South Africa and Nigeria offices respectively, as two of AIIM’s key markets in sub-Saharan Africa. As AIIM’s new joint-MD’s, they take over from Jurie Swart, who has been CEO of AIIM since 2014 and recently elected to take early retirement to focus on a new challenge outside the AIIM business.
Commenting on the new roles, Paul Boynton, non-executive chairman of the Board at AIIM said: “Vuyo and Sola have both been integral members of the AIIM team for many years and bring with them extensive and varied investment experience and leadership skills. On behalf of the entire Board, I am looking forward to working even closer with them in their new joint-MD roles as the business continues to expand and move forward.”
Vuyo Ntoi said, “I am very excited to step into this new joint role, continuing to work with Sola and the Exco team to drive the strategy that we have had in place, which has and continues to deliver excellent outcomes for our investors and stakeholders.”
Sola Lawson added, “I am honoured to take on the role of joint-MD of AIIM and look forward to working closely with Vuyo and the wider team to continue to build on the strong foundations developed throughout Jurie’s time as CEO and to help progress AIIM’s strategic journey.”
Vuyo Ntoi has been a member of the senior management team at AIIM for over a decade and is the co-portfolio manager of AIIM’s IDEAS Managed Fund, one of South Africa’s largest domestic infrastructure equity funds. He was also involved in the initial roll out of the business across the continent and has led and participated in high profile and pioneering projects in South Africa, Ghana, Nigeria and Mali.
Sola Lawson joined AIIM in 2011, founding the Nigeria office, AIIM’s first permanent establishment in Africa outside of South Africa. He has been a member of the senior management team at AIIM since joining and is a member of the IDEAS investment committee. Sola has played a leading role in originating, executing and managing c. USD500 million of AIIM-managed fund investments across Africa, serving on the board of directors of several AIIM portfolio companies within the digital infrastructure, power or renewables and midstream sectors. Prior to joining AIIM, Sola was a member of the infrastructure funds team at Macquarie Group, and prior to that worked at PwC London.
Issued by: AIIM Africa
Regulation, collaboration needed to fast-track global circular economy
European Green Deal, Covid-19 and new technology change environmental landscape
Cross sector collaboration and enabling regulatory frameworks, as well as technology innovation, can fast track the achievement of circular economy goals. This is according to industry experts who were participating in Messe München’s first IFAT Impact virtual industry forum streamed from Germany last week.
The IFAT Impact forum, which also represents IFAT Africa, the continent’s leading exhibition for water, sewage, refuse and recycling assessed the European Green Deal, the impact of Covid-19 on environmental initiatives, and the way forward for waste management and recycling.
Highlighting the long-term importance of enabling a circular economy, William Neale, European Commission Circular Economy Advisor, said: “The circular economy is not just about waste, it is also about retaining value in the economy. And that is where the real potential is – in creating jobs.” He cited figures estimating that for 10,000 tonnes of waste products and materials, one job would be created if it was incinerated, six jobs would be created if it was landfilled, 36 jobs would be created if it was recycled and up to 800 jobs could be created if it was refurbished and reused.
The new European Parliament Green Deal, a roadmap for Europe becoming a climate-neutral continent by 2050, as well as a strategy to finance the Green Deal by attracting at least €1 trillion worth of public and private investment over the next decade, should be central to post-Covid economic recovery strategies, panellists said.
Pandemic impacts circular economy efforts
The Covid-19 pandemic was likely to impact both funding and progress on circular economy efforts, speakers said.
However, webinar attendees felt the impact would not necessarily be a negative one in the longer term: an online poll on what impact the corona crisis would have on demand for environmental technologies in the next five years found that 40% expected a positive effect and 38% felt the likely impacts were not clear yet.
Patrick Hasenkamp, Vice-President of the German Association of Local Utilities and President of Municipal Waste Europe, noted that the crisis had set the scene for broader collaboration: “The current corona crisis has shown that we can work together in a co-ordinated manner. We must preserve this common team spirit and work hand in hand to achieve sustainability goals.”
Hasenkamp added that while no reliable statistics were available yet, the impression at European waste treatment and incineration plants was that a lot more waste was being generated during the pandemic. “More packaging material and biological waste is reported to be coming in,” he said. He attributed this to new hygiene regulations resulting in more food packaging, and to consumers purchasing convenience and takeaway meals instead of eating at restaurants.
Enabling regulatory environment needed
Panellists said the regulatory environment could incentivise the use of recycled and recyclable materials and help enviro-tech innovators secure funding.
“Smart regulation and well-functioning municipal administrations are essential for a functioning circular economy. Investments in innovations, such as those we see at IFAT, are often not possible without new legislation,” said Dr. Christoph Epping, Head of Directorate WRII ‘Resource Conservation, Circular Economy’ at the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety.
“Politics must ensure crisp but attractive legislation, regulation and guidance. One major pillar of this change will be the financial and political support of breakthrough green innovation to disrupt markets with sustainable and green business models,” added Dr Eng. Sebastian Porkert, CEO of enviro-tech startup Ecofario.
Peter Kurth, President BDE (Federation of the German Waste, Water and Raw Materials Management Industry) and President FEAD (European Federation of Waste Management and Environmental Services) emphasized that regulators had a role to play in incentivising change in product manufacturing and helping drive circular economies. He said for example, public procurement could set an example by setting minimum levels of recyclates in products purchased.
He said this year alone, over 25,000 wind turbines would be sent to the waste market: “That is 125,000 tonnes of plastic which can’t be recycled and is hard to treat in other ways. We need legal frameworks for responsible manufacturing. We also have to enforce an end to the landfilling of untreated waste,” he said.
Innovation to drive better reduce, reuse, recycling programmes
The panellists highlighted the potential of innovative new technologies to help overcome current challenges in recycling.
Open data, access to data and the use of technologies such as Blockchain presented new opportunities to track products and share information about those products, said William Neale. “The real power in this is we now have an opportunity to attach data to a physical product, create digital product passports, and use technologies such as AI to improve sorting and recycling,” he said.
Lynette Chung, head of global sustainability at Covestro AG, agreed that digital innovation could support circular economy efforts. She noted that manufacturers faced significant challenges in moving toward a circular economy: not only did they have to test and source new materials, they also had to ensure the resulting products were fit for purpose and safe for consumers. “We have to work with the entire value chain, assess raw materials and understand what recycled products work in the market. Industry needs to be given a chance to look at how to implement radical change across materials, recycling technologies and testing in order to address the issue we created some time ago.” She said digitisation and quantum computing could help industry achieve this change.
“Like our colleagues in Europe, Messe Muenchen South Africa also believes innovation and collaboration will be key to driving progress in a circular economy in Africa,” said Suzette Scheepers, CEO of Messe Muenchen South Africa. “Therefore, IFAT Africa 2021 will offer expanded opportunities for networking and collaboration, a showcase of the latest international innovations and technologies, and include high-level forums for knowledge sharing to further circular economy goals.”
IFAT Africa, to be staged at Gallagher Convention Centre for July 13 – 15, 2021, will bring together thousands of African stakeholders from across these overlapping sectors to discuss challenges, solutions and business opportunities in the crucial water, sewage, refuse and recycling industries.
The exhibition will also be strengthened with the addition of a Renewable Energy Zone and track sessions covering issues such as new trends in renewable energies, regulations and licensing for IPPs, energy storage, integrating renewables into existing power systems and new project opportunities in Southern Africa.
IFAT Africa will be co-located with food & drink technology Africa and analytica Lab Africa to enable knowledge sharing and networking across the broader value chain.
Issued by ITP Communications