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Nduka Obaigbena: Afripol person of the week

Sat, 28 Aug 2010 09:16:44 -0500

http://www.afripol.org/emeka-chiakwelu/item/113-afripol-person-of-the-week.html

Nduka Obaigbena is founding Editor-in-Chief and Chairman of THISDAY newspaper and ARISE, the international flagship magazine that is well received around the world. Chairman Obaigbena has done more than any other person in putting Nigeria on a positive limelight. He can be literally called the father of Nigeria's rebranding. Before the government embarks on the cardinal policy of image making and rebranding, he was in the vanguard of redefining Nigeria for 21st century.

Nduka Obaigbena understood the act of compassing public relations and has singularly given Nigeria the prestige and honour she deserved. Putting Nigeria in a strategic and conspicuous limelight by showing the talents, God-given gifts and ingenuity of our great country is the hallmark of Obaigbene.

Chairman Obaigbena did not limit himself only in Nigeria, but he went further into the rest of Africa and global village. By venturing into South Africa at the end of Apartheid he encouraged the democratic dispensation by extending THISDAY newspaper and other literary publications that showcase the downtrodden Black South Africans in good light thus lifting the African soul and humanity.

Chairman Obaigbena now takes his game higher, bolder and more sophisticated by developing and producing the ARISE magazine, which was well received in the global village in London, Paris, New York and other major cosmopolitans. With his THISDAY INTERNATIONAL he has organized seminars on issues affecting Nigeria and Africa in Abuja, Lagos, New York and London with guests including Collin Powell, former Prime Minister Tony Blair and former President George Bush.

One of the nicest things he has done is to integrate our youths into the music global scene by inviting who-is-who to perform in Nigerian soil. Major international entertainers the likes of Beyonce, Jay- Z, have performed in Nigeria. That has helped to showcase local musicians and Nollywood. With his ARISE magazine he has joined the ranks and files of men of goodwill whom has become part and parcel of the forces shaping the views and perceptions of the African world. With his ample contributions comes a new dawn for enhanced African presence in 21st century.

Nduka Obaigbena is a Neo- cultural African ambassador, democratic capitalist, strategist and patriot. Therefore the Board and Staff of Afripol chose him as the PERSON OF THE WEEK.

Africa Political and Economic Strategic Center (Afripol) is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, human rights, conflict resolutions, transparency and probity in Africa. www.afripol.org info@afripol.org

Bangladesh Govt moves to find new manpower markets

Sat, 28 Aug 2010 05:08:42 -0500

Bangladesh plans to explore alternative and diversified overseas labour markets to boost the sector as some traditional destinations are getting saturated.

The Ministry of Expatriates' Welfare and Overseas Employment has already formed five delegations for visit to at least 17 countries in Europe, Australia, East Asia and Africa to search for employment opportunities, officials say.

"We have initiated the aggressive plan because quotas for our workers in some Middle Eastern countries are reaching the end," Expatriates' Welfare Secretary Dr Zafar Ahmed Khan told The Daily Star recently.

He said the ministry has assigned tasks to the delegates, who are doing necessary market analysis, consulting the Bangladesh missions in the countries concerned and will visit them in a month or two.

The countries listed as potential labour destinations include Japan, China, Hong Kong, Taiwan, Italy, Belgium, Germany, Spain, Australia, New Zealand, South Africa, Botswana, Zimbabwe, Romania, Bulgaria, Czechoslovakia and Poland.

The initiative comes when both the overseas job and growth of inward remittance from the Bangladeshi expatriates witnessed a decline. Currently, seven million Bangladeshi expats send home over $10 billion annually helping the country's balance of payment.

However, in 2009 foreign jobs for Bangladeshis declined to 4.75 lakh, which was 8.75 lakh in 2008 and 8.32 lakh in 2007. Though the decline was reasoned by global economic recession, its trend continued till now when the recession is approaching end.

Up to July 29 this year, only 231,171 workers joined overseas jobs with the experts saying that the total number by this year-end would be around 4 lakh.

Meanwhile, remittance growth last fiscal year was only 13 percent against the 22 percent in 2008-09. Last year the remittance inflow was $10.97 billion, up from $9.69 billion in 2008-09.

In three previous fiscal years, the growth of remittance ranged from 24 percent to 32 percent. Experts say the decline of remittance growth last fiscal was mainly caused by decrease in flow of jobs abroad.

Though the job decline was substantiated by economic recession, businesses say irregularities in the recruitment process also caused the downtrend.

For example, a recruiting agent says Kuwait, home to 4 lakh Bangladeshi workers, stopped hiring them late 2006 citing illegal activities in recruitment business.

Malaysia in March last year imposed freeze on Bangladeshi workers citing economic recession, while Saudi Arabia, the largest labour market hosting around 20 lakh Bangladeshis, significantly reduced the number.

Expatriates' welfare ministry Joint Secretary Begum Shamsunnahar said it is learned unofficially Saudi Arabia will not allow more than 20 percent Bangladeshis in any company.

Zafar Ahmed Khan said Southeast Asia and the Middle East are traditional markets and follow-up efforts will be there to maintain these, or to recover those having freeze on Bangladeshi workers.

"But we are searching for new destinations as a supplementary, as we have surplus workforce," he said. Some of these countries already hired some workers from Bangladesh, while others showed their interests.

It is imperative that Bangladesh strengthens links with these countries and improve Bangladeshis' skills to capture job markets, he said.

Asked if Bangladeshis have the skills as required by these countries, Khan said those seeking overseas jobs have certain skills and there are training centres for them. If required, advanced and varied trainings will be provided, he added.

Alongside searching markets, the government is also taking measures to curb malpractices and indiscipline in the sector, said Begum Shamsunnahar.

J&K Bank Chairman Dr. Haseeb Drabu resigns

Fri, 27 Aug 2010 06:26:47 -0500

Srinagar,August-27 (Scoop News) – The Chairman & CE, J&K Bank, Dr. Haseeb Ahmad Drabu has tendered his resignation to the Board of Directors and sought to be relieved of all responsibilities of the Bank. In his resignation, Dr. Drabu thanked employees of the Bank, Board of Directors, Foreign Institutional Investors, State Government, the Regulatory Authorities and all other stake holders for giving him the support and co-operation to run this institution along professional lines.

In a statement issued by the Government for Shareholders and Stakeholders, it has been said that the Government in consultation with RBI will make necessary interim arrangements for the smooth functioning of the Bank till the RBI appoints a successor. It would be ensured that there is complete continuity in the management of the affairs of the Bank and growth and profitability will not be allowed to suffer. The Bank has enough depth at the leadership level to manage the affairs of the Bank professionally. The Bank’s leadership level comprises of two Executive Directors and eight presidents who will continue to manage the Bank.

Various stakeholders of the Bank especially Foreign Institutional Investors who have large holding in the Bank, should be rest assured that the Bank will continue to record exemplary performance under the new leadership and there is not cause of any concern whatsoever.

The J&K Bank is one of the premium institutions and the only listed company of the State. It is a strong and stable Bank and has the highest degree of safety as per best credit rating agencies. It has seen a tremendous growth for last five years and has recorded a profit of more than Rs. 500 crore in the last financial year. It is a Bank with the lowest NPA in the country and is a very credible and stable financial institution.

www.scoopnews.in

Mukesh Dhirubhai Ambani on World Economic Forum Board

Fri, 27 Aug 2010 06:16:41 -0500

Mukesh Dhirubhai Ambani, Chairman and Managing Director, Reliance Industries has been elected on board by the Foundation Board of the World Economic Forum.

Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, said, “We are honoured to have three distinguished new members of the Foundation Board. Mukesh Ambani will bring an extraordinary level of business acumen and his commitment to the ideals of the Forum. He has played a key role, especially related to the integration of India into all our activities.”

The Foundation Board is composed of leaders from business, politics, academia and civil society who strongly identify themselves with the Forum’s mission to improve the state of the world and who make a valuable contribution to this mission through their involvement.

Along with Mukesh Dhirubhai Ambani the other two who were elected on the board were Ben J. Verwaayen, Chief Executive Officer, Alcatel-Lucent, France; and Zhu Min, Special Adviser, International Monetary Fund (IMF), Washington DC, and a former Deputy Governor, People’s Bank of China , People’s Republic of China.

The Reliance Industries chairman will play an important role in India-WEF relationship.

Mukesh Ambani - New Role in Reel

Fri, 20 Aug 2010 06:28:01 -0500

India’s leading Industrialist Mukesh Ambani, CMD, Reliance Industries is now entering the world of Bollywood. According to sources, India’s Energy giant Mukesh Ambani and czar of Bollywood Yash Chopra might join hands to produce a film in the near future.
Mukesh Ambani’s Reliance Retail and Yashraj Films may float a 74:26 JV to set up multiplexes, run entertainment channels and produce soap operas for television. The new company formed out of this JV will use the upcoming malls of Reliance Retail nationwide to set up multiplexes.
“I love watching Bollywood movies and Yash Chopra is one of my favourite filmmakers. I have always believed that he has a Midas touch”, said Mukesh Ambani, Chairman, Reliance Industries. Mukesh Ambani has been a fan of Yash Chopra’s films since his younger days. It is said that despite the fact he has to spend lot of time in his business, he still finds time to watch latest movies with his family and friends in his Sea wind home.
The business tycoon is willing to invest a whopping amount of Rs. 200 Crores for this new venture. “Everything is at the nascent stage and no company will be forthcoming to talk about it right now,” says a source.
This move yet again demonstrates the diversity and flexibility of Reliance Industries to explore unknown territories. Mukesh Ambani may well bring about a revolution in the entertainment industry. With the amount of investments he would bring in, who knows, an Indian equivalent AVATAR may hit the box office very soon.

South African workers begin strike

Wed, 18 Aug 2010 11:11:16 -0500

BY NANGAYI GUYSON IN KAMPALA UGANDA, E.AFRICA

Workers in South Africa including Police, teachers, doctors, and nurses have begun a strike demanding an 8.6% pay hike, improved housing subsidies, and other benefits after rejecting the government's offer of a pay rise. Many schools and hospitals and public offices are expected to be affected.

Unions affiliated with Cosatu, South Africa's main union federation, have been holding out for an 8.6% rise, more than the latest government offer of 7%.

The government has increased its offer to 7%, but this has so far been rejected by unions, with negotiations continuing until late on Tuesday.

The coalition of unions threatening to strike represents an estimated 1.3 million public sector workers, including government office and judicial employees.

Last week tens of thousands of public sector workers staged marches to hand over their demands to authorities.

Unions representing teachers and nurses were the first to announce that they would join the strike.

"From tomorrow there will be a total shutdown and the beginning of a protracted strike and we will only stop when government responds," said Thobile Ntola, head of the SADTU teachers' union.

The government has been urging people to turn up to school, but many pupils are expected to stay away on Wednesday having been told not to turn up by their teachers.

Minimal health and policing services are expected to keep running, with employees deemed to be essential forbidden from taking part in strikes.

However, in a township of Johannesburg police were called in to try to break through a picket line that was preventing both patients and health workers from entering the premises.

South African schools have already been hit by spontaneous walk-outs this week, and there have been reports of intimidation and violence.

South Africa has seen a wave of strikes in recent years, though unions have warned that the latest strike could be the largest for several years because it is indefinite.

During the World Cup, hosted by South Africa in June and July, transport and power supply worker unions won pay rises after threatening to strike during the tournament.

Analysts say President Jacob Zuma, who owes his political support to South Africa's powerful trade unions, is under pressure to appease them while also addressing the country's budget deficit.

Tanzania police have arrested Kenyan man selling albino at $250,000

Tue, 17 Aug 2010 23:15:56 -0500

BY NANGAYI GUYSON IN KAMPALA UGANDA ,E.AFRICA

Police in Tanzania have arrested a Kenyan national for attempting to sell an albino man at $250,000 (£159,000)

The arrest was made in a sting operation as police pretended to be businessmen buying albino body parts.

According to the Tanzanian police a 28-year-old Kenyan man, Nathan Mutei, was arrested just outside the town of Mwanza as he attempted to sell an albino man.

Simon Siro ,regional police commander,, told the BBC that Mr Mutei had tricked a fellow Kenyan into believing he would secure a job in Tanzania as a truck driver's assistant.

But the police said Mr Mutei had secretly tried to find businessmen willing to buy 20-year-old Robinson Mkwama. The police commander said they had posed as potential buyers in order to make the arrest.

Over the last three years more than 50 albino adults and children have been killed. The Tanzanian government promised to take action, and there have been some court cases.

But justice is slow. So far, just seven men have been given death sentences.

The number of albino killings has fallen, but the fear is still strong. African albinos are also under threat from skin cancer and for that reason they rarely live beyond the age of 40.

In Africa,mostly in Tanzania, the body parts of people living with albinism are used by witchdoctors for potions which they tell clients will help make them rich or healthy . The Tanzanian government has promised to take action.

Mr Mutei is due in court on Wednesday to charges of human trafficking.
ENDS

Corruption is fact in Yambol

Tue, 17 Aug 2010 03:54:44 -0500

The bosses in Manicipility who stayed without work,bought places in other key positons. Tenko Tenev who was in Manicipility and stayed without work now find work in The Youth Home .There happened strange things in this place - there are stolen things. Thieves were came in through back door.But these is not the only case.This is communist ethics never stay without work.

Steve Slepcevic, Disaster Recovery Expert - Top 10 Things to Do When Disaster Strikes!

Fri, 13 Aug 2010 05:21:41 -0500

Most disasters, by their very nature, are unforeseen and can happen anytime, anywhere, at a moment’s notice, from wind, water, vandalism, fire to terrorism. Reaction time is critical and can mean the difference between preventing further destruction or easily reclaiming damaged property and possessions after disaster strikes. It is important that property owners and business owners know what to do when disaster strikes. Here is a list that every property owner and business owner should have:

1. Contact your insurance agent and file your claim promptly. The policy specifies that you do this on a timely basis … immediately. Get a copy of the accord claim form from your agent as submitted by him as written confirmation of the claim filing.

2. Protect the property from further damage and document your loss. Take video or photos lots of photos! Then, protect the roof to prevent further water damage or secure the premises to prevent theft. Personal property must be inventoried and moved to a storage facility if the structure is severely damaged in order to make the necessary repairs.

3. Set up a team within your company to deal with the loss. Make sure this team is composed of your most competent, trustworthy people since your company’s recovery lies in the balance. Only one person on the team should be the information conduit to the insurance company, since, as in anything else in business, loose lips sink ships. Information is everything in an insurance claim and you must be all wise in that which leaves your company. Company adjusters have denied claims based on statements given by employees that were only rumors to begin with. Direct your team to implement the contingency operations plan, (if you have one), to facilitate maintenance of your business as a going concern. You must do this to mitigate your covered business income loss thereby maximizing the potential within the insurance policy to cover the loss. If you do not have a contingency operations plan, develop it with an expert in Contingency Planning.

4. Study your insurance policy. Don’t let anyone else assume this responsibility - not your employees, not your broker and certainly not the insurance adjuster. The policy was broadly written to allow flexibility by the company in adjusting the loss and the adjuster will utilize this flexibility to convince you to see things his way. The insurer wrote the insurance policy and you had no opportunity to negotiate the terms when you purchased it. Therefore, any ambiguities in the language should fall in your favour.

5. Gain control of the situation. This is your loss, not the insurance company’s loss. You must be pro-active in the insurance claims process. Your adjuster is the eyes, ears and the voice of the insurance company. Nowhere in your policy does it say that the insurance company must provide you with an adjuster. The policy states quite the contrary – all policies require you to prepare and present your claim. So why does the insurance company provide you with an adjuster? Because the company wants to control the loss adjustment by having their representative steer the process in their desired direction and to persuade you to agree to their adjuster’s calculations of the loss. Allowing the insurance company to prepare your claim is just like allowing the IRS to prepare your tax return … . They may not dig deep enough to find everything to which you are entitled!

6. Retain experts to assist you in proving the loss. You may need an architect, engineer, equipment expert, general contractor or even a coverage attorney. Make sure that they understand how to deal with insurance companies, as you want them to work in your best interest. (Even though the insurance company will be paying you, your experts may believe that since the insurance company writes the checks, they also call the shots!) The insurer will most likely bring their own preferred experts to generate reports that may favor the insurer’s perspective.

7. Demand that the company issue a large advance check upon adjuster’s first visit. Do not be embarrassed to ask for money since it is yours! This first visit is to enable the company to reserve the loss (set aside money from the company cash to pay the claim), and to strategize their approach to the claim. Although the policy does not specifically require the company to issue an advance, it is not reasonable for them to withhold money that they know they owe, especially since your cash flow requirements continue after the loss.

8. Always be aware of the players and their positions in the game. Although most in the insurance industry are honest and ethical, full disclosure of who is the agent of whom, is not the norm is this business! Your agent may have a fiduciary duty to the insurance company, not you. If he is an agent of the insurer, he does owe a fiduciary duty to them and not to you. The adjuster, on the other hand, no matter how friendly and seemingly cooperative he may appear, owes a fiduciary duty to the insurer. The claim process should not be adversarial by any means, but it is a high stakes chess game that the insurance companies play every day. This being your first or even second claim does not put you on a level playing field with the insurance company’s agents.

9. Keep in mind that adjusting a large property insurance claim is a very specialized field. Even your attorney and CPA would probably not say that they are experts in this field. Your broker, no matter how sophisticated, will most likely admit that neither he nor his firm are experienced in handling claims. He may have a claims department within the agency, but his job is to facilitate smooth communications between the insurer and you, the insured. No insurance company allows insurance brokers or agents to adjust claims over a few thousand dollars without the expertise of an adjuster as their agent in the claim.

10. Retain a claims consultant with a team of experts as your agent in the preparation of the claim. These consultants are licensed and qualified to handle your claim and act as your fiduciary. They will maximize your legitimate recovery, minimize your downtime, and create a level playing field with the insurance company throughout the claims process. They will report to you and advise, to the best of their ability, as to the best course of action. There will be literally hundreds of decisions to make regarding policy coverage and limits, customary adjusting practices and claim formatting. Do not make the mistake of collaborating with those whose goals are different than those of your business. There is much more at stake than the dollars!

NSE MUST BE REVAMPED AND REFORMED

Fri, 06 Aug 2010 17:58:34 -0500

Economic perspective and commentary by Afripol organization www.afripol.org

Afripol Organization calls for recalibrating of The Nigerian Stock Exchange (NSE).

Nigerian Stock Exchange (NSE) for sometime now is encountering numerous problems ranging from illegal and inside trading to financial mismanagement. Stock Exchange Market in global financial circle is seen as the bellwether and presage of the health of an emerging economy like Nigeria, therefore it has become necessary, if not imperative that some sort of reform must be administered and instituted in order to revamp the exchange market

For any nation that is serious about furthering capitalism on its soil, it must acknowledge the important role occupied by Stock Exchange Market for fuelling and financing industries in the capital market. Nigeria must be very concerned about perceived integrity and transparency of her financial and capital markets for her economic growth and full participation in the current global economy.

Aliko Dangote, President of the Nigerian Stock Exchange (NSE) recently accused the institution of being financial strapped due to mismanagement of its fund. The president of NSE stressed that the poor management and paucity of fund do not give the leverage for NSE to meet its obligations to stakeholders in the capital market.

NSE plays a vital role in an economy of our country especially Nigeria as an emerging economy must be careful about the image and the underpinning importance of its capital market. Nigeria cannot afford to undermine the trust of the global capital market traders. The consequence will encourage capital flight and withdraw of resources from the market.

“Dangote accused NSE’s management of dipping its hands into the finances of its subsidiary, the Central Securities Clearing System’s (CSCS) accounts to borrow N 900 million to support its cash deficit position.

Dangote further revealed that the NSE is indebted to the tune of N 119.5 million to Accenture auditing firm and that it has decided to stop additional work on executive selection, trading platform selection completion and implementation of the operating model for which the Exchange engaged its services, until all outstanding invoices are duly paid.”

Nigerian Stock Exchange (NSE) must not be allowed to become a weakened institution; for the ramifications could cause enormous damage on the growing economy. The deterioration of NSE will retard economic development in Nigeria. NSE is the contact point that brings buyers and sellers of stocks through their registered brokers. The capital and money raised by companies from capital market helps to support research and development, financing of new business entities which bolster economic development.

Nigeria with a strong population base and an expanding middle class sector, nurses the vision of becoming one of the largest economies by year 2020. The NSE can play a vital role in Nigeria’s ascendency to a well managed and optimum productive economy. Moreover the foreign investors are attracted to economies where capital can be raised for growing their companies. Nigeria cannot transform her economic woes by solely on public sector; Nigeria needs private sector with its creativity to grow her economy and start creating ample jobs for underemployed and unemployed. A strong, reliable and well managed NSE can lay the foundation and become the catalyst for economic growth for Nigeria’s emerging economy.

Afripol Organization recognizes the significance of a self- sustaining and a healthy capital market which is key ingredient for a well regulated commerce, trade and industry in a capitalistic economy. A flourishing economy needs a reliable Stock Exchange Market.

Vincent Ogboi, Senior fellow, economic and financial analyst on African affairs at Afripol, reaffirmed the urgency for reform: “A renowned Nigerian industrialist and President of NSE, Mr. Dangote, also an insider sounded an alarm bell that the Nigerian Stock Exchange is “broke”. This coming form an inside player cannot be blown off as just another empty cry for investigation of perceived enemies. The culture of pervasive corruption that has gone unabated since Nigeria’s independence has predictably taken over and erodes the trust of many in the Nigerian Stock Exchange. Once again, hard working average Nigerians who are always asked to play by the rules, are left holding the short end of the stick.”

Referring to the recent history of mismanagement of priorities at NSE, expert Ogboi stressed: “The Nigerian Stock Exchange, headed by Dr. (Mrs) Okereke, is widely known for corrupt practices that are never investigated even when evidence abound. The Present Nigerian President, Mr. Jonathan Goodluck, in a swift move realizing the possible damaging impact this could bring to the comatose and oil dependent economy, sacked Mrs. Okereke. Mrs. Okereke’s position has been very controversial especially in the last few years since she started dabbling into other private business ventures that are in obvious conflict with her position as the head of the Stock Exchange. Her closeness to previous and corrupt past Nigerian politicians has certainly not helped the situation.”

Emeka Chiakwelu, Principal Policy Strategist at Afripol, supports reforming NSE, “For Nigeria to move forward with a robust economic development especially in the private sector a well regulated and financially managed NSE must be present. Our country must summon the courage to do the requisite reforming of NSE to bring about a revamped outcome.”

Dr. G. Stanley O'Koye, chief medical correspondent at Afripol, added that reforming the NSE can be a great tremendous help to the quality and efficiency of health care delivery in Nigeria: “when we have a solid and reliable NSE, many start-up and newly emerging biotech companies and venture capitalists in the area of health and medicine can confidently go to capital market to raise money to embark on their health care ventures. Pharmaceutical and biotech companies producing drugs can easily raise capital to manufacture their brand name drugs in the country. Therefore a corrupt free NSE can significantly help to restore health industries as thriving entities. In addition, a corrupt free NSE will facilitate the establishment of publicly traded third party insurance or health management organizations (HMO), and hence promote the delivery of quality health care to Nigerians."

Africa Political and Economic Strategic Center (Afripol) is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, sustainable green environment, human rights, conflict resolutions, transparency and probity in Africa. info@afripol.org www.afripol.org