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African Development Bank Group President, Akinwumi Adesina, calls on Oxford MBA graduating class to be change-makers

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Adesina called on the graduates to use the skills and knowledge they had acquired to address some of today’s most pressing global challenges

OXFORD, United Kingdom, September 12, 2023/APO Group/ — 

Graduating executive MBA students of Oxford University’s Saïd Business School received wise counsel from African Development Bank (www.AfDB.org) President Dr Akinwumi Adesina on Friday.

Delivering the business school’s 2023 commencement address, Adesina called on the graduates to use the skills and knowledge they had acquired to address some of today’s most pressing global challenges, including climate change and the quest for a hunger-free world. “It is unacceptable for more than 2.3 billion people in the world to go hungry each day,” he said.

The bank president said: “Class of 2023, I see in you, builders, and shapers of hope. You have been well prepared to go into this world to be change-makers. You have received a world-class education. You are ready, and the world awaits you.”

Adesina urged to draw lessons from the Covid-19 pandemic to ensure future global pandemic preparedness and that no one is left behind in terms of access to affordable healthcare.

Commending the graduates to use innovative ideas and solutions, he highlighted the need to help meet the needs of the 940 million people worldwide living without electricity, three billion people without clean cooking energy, two billion living without access to clean water, and 4.5 billion without sanitation.

He also emphasised the 1.7 billion people that lacked access to basic finance, credit, savings, payments, or insurance, while also stressing the need to build a better world for the 244 million children who are out of school, including 129 million girls.

“Their dream,” the African Development Bank president said, “is to be like all of you today as you graduate with a world class education. But they cannot achieve their dreams, and neither can our world achieve our collective dream of a more just and equitable world unless we prioritise financing for developing countries to accelerate development.”

We want you to become great leaders who will shape tomorrow and have a positive impact on our world

Soumitra Dutta, Peter Moores Dean and Professor of Management at Saïd Business School, encouraged the Class of 2023 to dream big and assume the mantles of leadership waiting for them. He said: “We want you to become great leaders who will shape tomorrow and have a positive impact on our world. To become a great leader, it is very important that you are inspired and that you dream big. With your dreams, you will raise the aspiration levels of others around you.”

Professor Alex Connock, specialist in Media Business and Artificial Intelligence (AI), called on the Class of 2023 to set the terms and conditions of what they do in life, and devise the strategy. He said: “You must be confident about making choices that work to your vision of your own future.” He added: “So please—throw your own javelin confidently into the infinite space of the future, starting from today. Go out there, make a difference. Bring this splintering world back together. Don’t settle for a new Cold War. Don’t settle for global warming. Make good things happen.”

Adesina told the new MBA graduates to be selfless and dedicated to justice, equity, and fairness. While encouraging them to promote transparency, inclusion, honesty, and integrity, he emphasised the determination they would need not to be sucked into what he called the “slimy allure of insatiable corporate greed that has wreaked havoc on the lives of millions through creative accounting, misrepresentation of the valuation of companies,” and other unethical behaviour.

“As you go out into the business world, stay within the rules and regulations,” Adesina said. “You all look great in your suits today. Keep it that way. Do not trade your striped business suits for orange jump suits. Do honest business. Stay out of trouble. Set your goals and stick to them.”

The African Development Bank president encouraged the graduates to build alliances and collective partnerships rather than individual success. He evoked the image of the African Baobab tree with its massive girth. He said the only way individuals could encircle it was by linking arms together around its enormous circumference. He encouraged them to employ the Baobab approach and work together.

“Nothing works better than collective success,” Adesina said. “Never work alone… Ahead of you is a stretch of life. Live it fully. Live it supporting others. Live it doing the best you can to improve the lives and livelihoods of people around the world. Use the Baobab approach.”

Amy Major, Associate Director of the Saïd Businees School’s MBA programme, told the new MBA holders: “Display kindness to yourself and others. You all hold yourselves to high standards, but as you move out into the real world, whether you are now gainfully employed or searching, facing financial pressure or not, moving back to your family or away, you will all experience a different set of challenges and opportunities. No matter where life takes you, you possess something that can never be taken away: your Oxford MBA and your rightful place as Oxonians.”

Adesina spoke about the need for a reformed global financial architecture. “The global financial architecture is failing development in the world as it faces multiple global challenges,” he explained, adding: “The global financial architecture must be modified to tackle global challenges more effectively and to accelerate the achievement of the UN Sustainable Development Goals.” He told the graduates: “The global pension funds and institutional investors, which many of you will go on to work for, have over $145 trillion of assets under management. As you do, take leadership in ensuing that these vast resources are directed towards the collective good. Use the skills and tools you have acquired at Oxford, to help make our world a better place for all.”

The African Development Bank president concluded his visit with a group and one-on-one chat with some of the new graduates from Africa to talk about leadership, and Africa’s future and development, and the role of the youth.

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

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RIOT Network and MediaTek collaboration expands digital access in South Africa through innovative, community-driven Wi-Fi solutions

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RIOT Network aims to make fast, unlimited Wi-Fi services accessible for people in townships and underserved communities

JOHANNESBURG, South Africa, November 22, 2024/APO Group/ — 

MediaTek (www.MediaTek.com), a global fabless semiconductor company powering nearly 2 billion connected devices a year, and RIOT Network (https://RIOT.Network), a community mobile broadband provider in South Africa, have announced the successful integration of Mediatek’s Filogic 830 (https://apo-opa.co/3CIbkNl) chipset into RIOT’s second-generation CROWDNet Core Nodes.

The successful deployment of the CROWDNet nodes has enabled RIOT Network to achieve its aim of offering uncapped internet at an affordable price of R99 per month, and to do so profitably. To date, RIOT Network, in partnership with Sonke Telecommunications, has leveraged the nodes to connect more than 800 households and 5000 users in Olievenhoutbosch to uncapped Wi-Fi services.

RIOT Network aims to make fast, unlimited Wi-Fi services accessible for people in townships and underserved communities. Its CROWDNet Nodes, enable an innovative model for deploying user-operated network infrastructure. Community members serve as operators of some of the core network devices to earn a share of the fee from neighbours who use the service.

With each new connection, RIOT Network is highlighting the role of innovative fixed-wireless solutions in extending broadband access and improving digital inclusivity

CROWDNet powered by MediaTek Filogic 830 brings affordable, last-kilometre broadband to communities where it is not commercially viable to deploy towers or fibre. The MediaTek Filogic 830 is a high-performance SoC for routers, repeaters, access points and mesh networking devices. The SoC enables device makers to build-in powerful applications based on an energy-efficient, Wi-Fi 6-ready platform.

“The Mediatek’s Filogic 830 chipset delivers a unique balance of high performance and cost-efficiency, allowing us to keep operational costs low while maximising network reliability and speed,” said Jarryd Bekker, CEO at RIOT Network. “This combination of affordability and sustainable business growth is pivotal to our vision of expanding digital access in underserved communities. Our work in Olievenhoutbosch near Centurion demonstrates the power of reliable, affordable internet, creating new opportunities for economic and social engagement.”

“With each new connection, RIOT Network is highlighting the role of innovative fixed-wireless solutions in extending broadband access and improving digital inclusivity,” said Rami Osman (https://apo-opa.co/4ghZBUn), Director for Business Development, MediaTek Middle East and Africa. “We look forward to supporting RIOT in building a future where high-quality internet is accessible and impactful for all.”

Distributed by APO Group on behalf of MediaTek Inc

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African Energy Chamber (AEC) Endorses Inaugural Congo Energy & Investment Forum, Catalyzing Growth in the Republic of Congo’s Energy Sector

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The African Energy Chamber proudly supports the inaugural Congo Energy & Investment Forum, scheduled for March 25-26, 2025 in Brazzaville

BRAZZAVILLE, Republic of the Congo, November 21, 2024/APO Group/ — 

The African Energy Chamber (AEC), as the voice of Africa’s energy sector, proudly supports the inaugural Congo Energy & Investment Forum (CEIF), set to take place in Brazzaville on March 25-26, 2025. Unveiled during African Energy Week: Invest in African Energies in Cape Town by the Republic of Congo’s Ministry of Hydrocarbons, this milestone event signals the nation’s commitment to strengthening its role as a key energy player on the continent, while showcasing a range of investment opportunities. 

Under the leadership of Hydrocarbons Minister Bruno Jean-Richard Itoua, the Republic of Congo has emerged as sub-Saharan Africa’s fourth-largest oil producer, with anticipated production of 280,000 barrels per day (BPD) by the end of 2024 and ambitions to reach 500,000 BPD within three to five years. Building on this momentum, the CEIF will highlight innovative projects and foster strategic partnerships that enhance investment, drive economic growth and position the Congo as a leader in Africa’s energy expansion.

Meanwhile, Société Nationale des Pétroles du Congo (SNPC), led by CEO Maixent Raoul Ominga, is spearheading the Congo’s energy growth. SNPC holds a majority stake in the Mengo Kundji Bindi II permit, with 2.5 billion barrels of estimated oil potential. The company is developing the site through 13 wells, 3D seismic data acquisition, and the construction of six production platforms. 

We are honored to secure the Chamber’s endorsement for this pivotal forum

With the Chamber’s official support, the CEIF is set to attract government leaders, C-suite executives from major IOCs and energy experts, who will offer critical insights into Congo’s oil, gas and energy sector developments. The country is overhauling its gas sector to unlock 10 trillion cubic feet of resources through a comprehensive Gas Master Plan and new Gas Code that introduces favorable fiscal terms and enables small-scale project development, as well as large-scale, integrated gas megaprojects like Eni’s Congo LNG and Wing Wah’s Bango Kayo. 

“The Congo Energy & Investment Forum marks a major milestone for the country, amplifying its strategic energy initiatives and showing industry stakeholders that it is serious about advancing its energy sector. We look forward to supporting this forum, which promises to connect investors, drive impactful partnerships and elevate the Congo’s position within Africa’s energy sector,” says NJ Ayuk, Executive Chairman of the AEC.  

“We are honored to secure the Chamber’s endorsement for this pivotal forum, which, through its vast network and influence, will help attract key stakeholders and decision-makers to the event. Together, we aim to highlight the immense potential of the Congo’s energy sector, foster strategic partnerships and drive transformative investments that contribute to sustainable growth across the industry,” notes James Chester, CEO of Energy Capital & Power, organizers of the CEIF.   

This premier forum provides a unique platform for connecting local and international investors with high-impact opportunities across a diversified range of energy projects, paving the way for collaborations that drive growth and transformation. The AEC’s endorsement underscores its commitment to fostering strategic partnerships, sustainable investment and regional cooperation, aligning with its broader mission to make energy poverty history across the continent by 2030.  

As the energy industry continues to serve as a critical pillar of the Congolese economy and a catalyst for sustainable development, the AEC remains dedicated to supporting initiatives like CEIF that foster progress, investment and partnerships across the African energy landscape. 

For more information, please visit www.CongoEnergyInvestment.com

Distributed by APO Group on behalf of Energy Capital & Power.

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Any Successful African Energy Policy at Conference of the Parties (COP) or Anywhere Must Have Oil and Gas at its Core (By NJ Ayuk)

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Conference of the Parties

Africa will need global financial systems, including multilateral development banks, to play a significant role in financing our energy growth which must include fossil fuels

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JOHANNESBURG, South Africa, November 21, 2024/APO Group/ — 

By NJ Ayuk, Executive Chairman of the African Energy Chamber (www.EnergyChamber.org).

I believe the ultimate responsibility for getting there is ours and no one else’s. Yes, we need partners to walk alongside us, but the success of our energy movement rests on African shoulders.

To begin with, I would love to see African energy stakeholders speaking in a unified voice about African energy industry goals.

This will be particularly important in COP29 in Baku. It is imperative that African leaders present a unified voice and strategy for African energy transitions. We must make Africa’s unique needs and circumstances clear and explain the critical role that oil and gas will play in helping Africa achieve net-zero emissions in coming decades.

I would encourage African leaders to talk about the need for financing, as well, to make it possible for us to adopt renewable energy sources and set up the necessary infrastructure. Africa will need global financial systems, including multilateral development banks, to play a significant role in financing our energy growth which must include fossil fuels.

Africa’s governments have a role to play in a successful African energy movement as well.

Because Africa’s energy industry still can benefit greatly from the presence of international oil companies, our government leaders need to approve contracts with oil and gas companies promptly instead of allowing red tape to delay projects after discoveries are made.

And, they need to offer the kinds of fiscal policies that allow oil companies to operate profitably in Africa. In turn, that will help those companies generate revenue, create jobs and business opportunities, and foster capacity building.

I also would encourage governments and civil societies to reward companies that exemplify positive behavior. Let’s incentivize the kind of activities we want, from creating good jobs and training opportunities to sharing knowledge.

I would love to see African energy stakeholders speaking in a unified voice about African energy industry goals

And there’s more.

We in Africa must work together to create more opportunities for women to build careers in the oil and gas industry at all levels. Our energy industry can’t reach its potential to do good when half of our population is left out. Our progress on behalf of women has not been great—We need to do better, and we need to act quickly.

How the world can support

Now, I mean it when I say Africans are responsible for building the future they want. But, I would love to see Western governments, businesses, financial institutions, and organizations support our efforts.

How? They can avoid demonizing the oil and gas industry. We see it constantly, in the media, in policy and investment decisions, and in calls for Africa to leave our fossil fuels in the ground. Actions like these, even as Western leaders have pushed OPEC to produce oil, are not fair, and they’re not helpful.

I also would respectfully ask financial institutions to resume financing for African oil and gas projects and stop attempting to block projects like the East African Crude Oil pipeline or Mozambique’s LNG projects.

Please understand that with the war in Ukraine, the energy crisis in Europe, and the energy poverty facing our continent, our countries, like many others, are simply choosing the paths they believe are most likely to help their people.

You know, people for years have accused me of loving oil and gas companies more than Africa. The opposite is true. In my frequent travels around the continent, I’ve observed far too many young people with little in the way of opportunities.

I know our young people have aspirations for a better future. I know they have big dreams. And, I know that future is nearly within their grasp.

A thriving, strategically managed energy industry can make it possible for many of these young people, whether it leads to good jobs or it fosters the kind of economic growth that creates jobs in other fields. Even if we only get the lights on in their communities, we’ll be giving our young people hope and improving their chances of realizing their goals.

This is what drives me, the idea that with our ongoing efforts and determination, our young people can realize meaningful opportunities. I encourage each of you to work with us at the African Energy Chamber, in a spirit of cooperation and mutual respect. Together, we can build the kind of African energy movement that our continent, our communities, and our young people need and deserve.

Distributed by APO Group on behalf of African Energy Chamber.

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