Connect with us

Business

Global Gateway: European Investment Bank (EIB) Global launches technical assistance cooperation agreement

Published

on

Global Gateway

The cooperation agreement was signed by Guinea-Bissau’s Minister of Finance Ilídio Vieira Té, EIB Vice-President Thomas Östros, and EU Commissioner for International Partnerships Jutta Urpilainen

DOHA, QATAR, March 7, 2023/APO Group/ — 

The Guinea-Bissau Resilient Road Corridor is part of the Praia-Dakar-Abidjan Strategic Corridor defined in the EU–Africa Global Gateway Investment Package; The new agreement concerns the first stage of technical assistance cooperation; The technical assistance of up to €3.5 million will provide concrete support in key aspects such as procurement, environmental and social safeguards management, road safety and climate resilience, ensuring sustainability.

At the 5th UN Conference on Least Developed Countries (LDC5) (https://apo-opa.info/3EUXa9V) in Qatar, the Republic of Guinea-Bissau and the European Investment Bank (EIB Global) have announced the signature and first stage implementation of the technical assistance cooperation agreement for the Guinea-Bissau Resilient Road Corridor project, which forms part of the Praia-Dakar-Abidjan Strategic Corridor. This Global Gateway flagship, which will enhance mobility and trade in a sustainable and safe manner, is currently being implemented by the European Investment Bank. Subject to approvals, it should benefit from a grant from the European Union (EU) as well as EIB financing in the coming months.

The cooperation agreement was signed by Guinea-Bissau’s Minister of Finance Ilídio Vieira Té, EIB Vice-President Thomas Östros, and EU Commissioner for International Partnerships Jutta Urpilainen.

Guinea-Bissau’s Minister of Finance Ilídio Vieira Té said,

“First of all, on behalf of the Government of Guinea-Bissau, I would like to express my great satisfaction on this important day for my country. Its marks the signing of the cooperation agreement with EIB Global the European Investment Bank (EIB Global) to provide technical assistance for the SAFIM-MPACK road corridor. I believe that this day will also bring the relaunch of the financing operations of projects. The rehabilitation of the road that connects SAFIM to MPACK is an emblematic project of our cooperation and testimony of how much the European Union and its bank the EIB, are committed to helping Guinea-Bissau find the best development path. This project, as part of the Trans-West African Coastal Highway, should contribute to increasing intra-regional trade and economic efficiency while representing the main means of transport for most rural communities.”

I am proud that, at the EIB, we are mobilising our vast expertise to support the implementation of this strategic and impactful project for the region

“I am proud that, at the EIB, we are mobilising our vast expertise to support the implementation of this strategic and impactful project for the region. As part of the Praia-Dakar-Abidjan corridor, it will directly benefit the local population by facilitating mobility – including improved access to health and education, particularly for women and children in rural areas. It is a true flagship project supported by EIB Global, our new arm dedicated to development and international partnerships outside the European Union. I hope that this project will be followed by many other projects in various key sectors for Guinea-Bissau benefiting from both EIB and EU support,” said EIB Vice-President Thomas Östros.

European Commissioner for International Partnerships Jutta Urpilainen said: “The Resilient Road Corridor project to rehabilitate the main road that connects the Guinea Bissau capital with Senegal is a true flagship EU-Africa Global Gateway project. As part of the Praia-Dakar-Abidjan Strategic Corridor, it will facilitate mobility and trade in Africa, and between Africa and Europe.. The technical assistance agreement signed today is an important step forward in enhancing and greening connectivity, and I look forward to the next steps.

The first stage launch of this new technical assistance agreement of up to €3.5 million marks an important step forward in the implementation of this road corridor project in Guinea-Bissau in terms of procurement, environmental and social safeguards management, road safety, climate resilience and reporting. It will facilitate the rehabilitation, including climate change resilience enhancement, of a 115 km section of the N2 road (Bissau-Mpack) between Safim, north of the capital Bissau, and the Mpack border crossing with Senegal. The N2 is part of the Dakar-Lagos Trans-African Highway Corridor No 7 (TAH-7) and the only paved road connecting Guinea-Bissau to external markets.

This road corridor plays an essential role in trade between Guinea-Bissau and the wider region. Once completed, the project is expected to facilitate the mobility of the local population while contributing significantly to Guinea-Bissau’s regional integration efforts. Furthermore, this project will improve people’s access to health and education as well as enhancing economic activities along the corridor and beyond. Improved access to health services will, in particular, benefit women and children in the rural areas that will be served by the corridor.

The project is also being co-financed by the World Bank.

Distributed by APO Group on behalf of European Investment Bank (EIB).

Business

Azentio expands its leadership team with 2 new appointments

Published

on

Women in leadership takes centre stage as Azentio welcomes Aarthi Ramesh and Emma Foley

SINGAPORE, Singapore, July 4, 2024/APO Group/ — 

Azentio Software (“Azentio“) (https://apo-opa.co/3XVs4JH)- a leading end-to-end software company specializing in the BFSI sector, today announced the appointment of Aarthi Ramesh as Chief Customer Officer and Emma Foley as Chief Marketing Officer.

Ramesh joins Azentio with over two decades of experience in the IT industry, both within the services and SaaS space. Most recently she served as Vice President at Freshworks, managing a large portfolio of strategic accounts across Asia Pacific, Middle East and Africa. During this time, she contributed significantly to the company’s growth, including as Head of GTM Operations, where she played a pivotal role in scaling the operations function and aligning it with the company’s IPO objectives. Prior to Freshworks, Aarthi had a long successful stint with Cognizant as global COO for a large business unit.

At Azentio, Ramesh will primarily be focused on delivering excellence in customer success. In her role, Aarthi will ensure customer satisfaction and retention by overseeing all customer-facing activities. This includes managing customer success teams, support services, and customer experience strategies to ensure seamless onboarding, adoption and ongoing engagement with Azentio products suite.

Aarthi and Emma are both driven and effective leaders who bring a wealth of experience, vision and innovation that will play a pivotal role in shaping the future of Azentio

Commenting on the announcement, Aarthi said, “I am delighted to join Azentio and lead our efforts towards achieving complete customer centricity. With my extensive background in both product and services and my dedication to driving customer success, I am confident I can significantly benefit both our business and our customers.”

Foley brings with her over 20 years of B2B marketing experience primarily focused on the tech space in the MEA, APAC and European markets. Most recently serving as the Head of Marketing for Europe, Middle East & Africa at Temenos, Foley is immersed in building high performing teams to drive transformative marketing models. Her expertise in leveraging data analytics to enhance marketing efficiency and effectiveness is expected to play a pivotal role in shaping Azentio’s marketing strategies into the future.

Her primary focus will be in ensuring Azentio’s value propositions are clear, compelling, and simple for customers as well as supporting the business in its strategic growth plans throughout the Middle East, Africa and South East Asia, with a significant focus on digital marketing technology as well as data-driven marketing initiatives.

Speaking about her appointment Foley commented, “I am thrilled to join Azentio, a company I have known and regarded highly for its cutting-edge solutions and customer-first approach. I look forward to leveraging my experience to contribute towards the company’s growth, driving marketing strategies that resonate with our customers and set new standards in the industry.”

Sanjay Singh, CEO at Azentio added, “Aarthi and Emma are both driven and effective leaders who bring a wealth of experience, vision and innovation that will play a pivotal role in shaping the future of Azentio. As our company continues to grow, I am confident that both of these leaders will help us to achieve Azentio’s vision and growth ambitions while championing innovation and a customer first mindset.”

Distributed by APO Group on behalf of Azentio Software Private Limited.

Continue Reading

Business

Siemens and PANA Infrastructure Join Forces in Groundbreaking Initiative to Modernize Nigeria’s Power Sector

Published

on

Siemens

By integrating innovative technologies and forming strategic partnerships, PANA Infrastructure provides sustainable solutions that support Nigeria’s growth across a range of industry sectors

ABUJA, Nigeria, July 3, 2024/APO Group/ — 

Siemens (www.Siemens.com​) and PANA Infrastructure announce a strategic collaboration to tackle Nigeria’s Electrical Infrastructure sector; The initiative aims to enhance power stability and create job opportunities in Nigeria; Combining expertise, they aim to enhance Nigeria’s power sector.

Siemens, a leading global technology company, and PANA Infrastructure, a Nigerian conglomerate with an increasing footprint across Sub-Saharan Africa, have formally announced a strategic partnership aimed at modernizing and upgrading Nigeria’s electric power infrastructure through the provision of grid automation, and smart infrastructure solutions across Nigeria. This collaboration, solidified through a formal agreement signifies a pivotal step towards addressing Nigeria’s pressing electricity challenges while fostering economic growth and technological advancement in the region.

“This collaboration underscores our commitment to fostering sustainable development and advancing technology in Nigeria,” stated Sabine Dall’Omo, CEO of Siemens Sub-Saharan Africa. “By combining Siemens’ expertise in smart grid technologies with PANA Infrastructure’s deep market insights, we aim to ensure a reliable power supply and drive economic progress in the region.”

We are committed to addressing Nigeria’s critical power infrastructure with the use of advanced low voltage, medium voltage, and smart grid management technologies

According to Mr. Daere Akobo, Chairman of PANA Holdings, “this strategic collaboration with Siemens is a pivotal opportunity to transform Nigeria’s power sector. We are committed to addressing Nigeria’s critical power infrastructure with the use of advanced low voltage, medium voltage, and smart grid management technologies. This collaboration is in alignment with the transformation agenda in the power sector by the Nigerian government to significantly improve power supply in the country, in a manner that translates to economic progress for all Nigerians.”

The agreement signed between Siemens and PANA Infrastructure, focuses on enhancing grid reliability and stability, deepening electrification rates to meet the rapidly growing demand for electricity in Nigeria.

Simultaneously, recognizing Nigeria’s potential for substantial investments in industrial modernization, the partnership will concentrate on unlocking Nigeria’s potential in the industrial power sector. This initiative aims to revolutionize Nigeria’s industrial landscape by harnessing the power of advanced technologies and solutions to enhance productivity, efficiency, and quality. Through local capacity development, enhancing employees’ skills and capabilities, Siemens and PANA Infrastructure will pave the way for a new era of industrial excellence in Nigeria.

“Siemens reaffirms its commitment to Nigeria, with a focus on identifying and developing strategic business opportunities within the region. By leveraging a go-to-market strategy that includes knowledge platforms, collaborative business strategies, integrated sales and marketing teams, and global support, Siemens strives to bring significant business value to the Nigerian market,” says Sabine Dall’Omo.

Meanwhile, PANA Infrastructure has positioned itself as a key player in understanding and envisioning the needs of industry stakeholders and local communities. By integrating innovative technologies and forming strategic partnerships, PANA Infrastructure provides sustainable solutions that support Nigeria’s growth across a range of industry sectors.

This strategic collaboration between Siemens and PANA Infrastructure represents the convergence of proven expertise and application know-how, ensuring the highest quality of solution implementation for Nigeria’s industrial power sector. By addressing key challenges in Nigeria’s power and industrial sectors, including electricity losses, rural electrification, capacity building, local production, technology transfer, and quality standards, this partnership aims to drive sustainable growth and development in Nigeria.

Distributed by APO Group on behalf of Siemens AG.

Continue Reading

Business

Afreximbank announces Board changes and increase in authorized capital

Published

on

Afreximbank

Mrs. Lydia Shehu Jafiya was elected to replace Mr. Aliyu Ahmed

CAIRO, Egypt, July 3, 2024/APO Group/ — 

African Export-Import Bank (“Afreximbank” or the “Bank”) (www.Afreximbank.com) is pleased to announce the following Board changes which took place at the Bank’s 31st Annual General Meeting held recently in Nassau, The Bahamas,

Board Changes

Class “A”

Mrs. Lydia Shehu Jafiya was elected to replace Mr. Aliyu Ahmed. Mrs. Jafiya is the Permanent Secretary, Federal Ministry of Finance of the Federal Republic of Nigeria.

Mr. Amadou Hott was elected to fill the position of the African Development Bank nominated board seat. Mr. Hott is currently the Special Envoy of the President of the African Development Bank (AfDB) Group on the Alliance for Green Infrastructure in Africa. Prior to this appointment, Mr. Hott was Senegal’s Minister for Economy, Planning and Cooperation.

Class “B”

We look forward to their support and insight as we strive to build a prosperous Global Africa

Mr. Noël Mekulu Mvondo Akame was elected to replace Mr. Jean-Marie Mani. Mr. Mekulu Mvondo Akame is currently the Director General of the National Social Insurance Fund (CNPS) of Cameroon.

Class “C”

Ms. Yu Wen was elected to replace Ms Lili Yang. Ms. Yu Wen currently serves as the General Manager of the International Department at the Export-Import Bank of China (CEXIM).

Increase in Authorised Share Capital

The shareholders of the Bank also approved an increase in the authorised share capital from US$5 billion to US$25 billion. The increase recognizes the rapid growth of the Bank in response to the challenges facing the African continent. It also creates capacity for the Bank to support the growth and development envisaged for the African continent in line with its mandate to promote the continent’s trade and affirm its relevance on the global stage.

Commenting on these significant developments, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank remarked:

“Afreximbank is most grateful to departing Board Members for their services to the Bank and Africa. They were for many years, part of a formidable team, that made significant contribution to the Bank’s vision for Africa, created alliances, and assisted Africa in navigating major headwinds. We welcome our new board members. We look forward to their support and insight as we strive to build a prosperous Global Africa. Together, we will restore dignity and pride to Africans around the world.”

 He added: “the overwhelming endorsement by Shareholders of the historic increase of the Bank from US$5 billion to US$25 billion reflected their firm belief and trust in the Board and Management of the Bank and in the Bank’s mission. This move gives us the necessary headroom to mobilise the capital we need to create a bank that serves all Africans.”

Distributed by APO Group on behalf of Afreximbank.

Continue Reading

Trending