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Promoting equity: Three women who run Nestlé factories in Africa (By Jean Marc Gogbeu)

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1 year ago

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Nestlé

The Nestlé Group, which intends to maintain its leadership and highlight women, has gone well beyond good intentions by choosing to put women in charge of some of its industrial units in Africa

ABIDJAN, Ivory Coast, March 23, 2023/APO Group/ — 

By Jean Marc Gogbeu, Sika Finance for Nestlé (www.Nestle.com) 

Nestlé has made the promotion of equity one of the pillars of its business operations, by giving women access to opportunities in technical and industrial fields -areas previously considered exclusive to men. This approach is also applied by Nestlé within its subsidiaries in Central and West Africa region, enabling the emergence of new talent. Three women exemplify this ambition.

Do women have the same abilities as men? Can they excel in so-called men’s jobs? More than 40 years after the establishment of Women’s Rights Day, these questions continue to be asked as the hoped-for changes in gender equality are still struggling to materialize in many parts of the world. Nestlé has been present in Africa for decades and is committed to being an actor of this change through various initiatives, particularly within its subsidiaries.

“Our goal is to promote women, enhance their potential in a work environment full of respect and fairness. More diverse teams with more women in leadership make Nestlé an even better company,” explained Mauricio Alarcòn, CEO of Nestlé in Central and West Africa, at this year’s International Women’s Day celebration, which has the theme: “Embracing Equity’’.

“We are actively working on this,” he continued, “because embracing gender equity leads to better decisions, stronger innovation and greater employee satisfaction.”

Recognized for five consecutive years for promoting gender equality, the Nestlé Group, which intends to maintain its leadership and highlight women, has gone well beyond good intentions by choosing to put women in charge of some of its industrial units in Africa: in Angola, Côte d’Ivoire, and Nigeria, offering them positions in technical fields which are not common on the continent, and which have the merit of setting examples.

“We must believe in our dreams”

A graduate of SupAgro in Montpellier, France and IMD in Lausanne, Switzerland, Joëlle Abega-Oyouomi has been the Director of the MAGGI factory in Yopougon, in the west of Abidjan, since 2020. She joined Nestlé Côte d’Ivoire as an intern at the Research and Development Center (R&D), and then honed her skills at the R&D centers in Shanghai, China, and Lausanne, Switzerland, before returning to Abidjan to take up the position of Product Development Manager (of the R&D Center Abidjan) in 2009. Her record of service earned her a promotion in 2015 to Regional Manager of Manufacturing Services in Accra, Ghana, and just one year later, to Director of the Abidjan R&D Center.

More diverse teams with more women in leadership make Nestlé an even better company

“When you are a woman, you face prejudices that imply that your gender would come with constraints that would hinder your ability to deliver expected results or even remain a reliable talent in the long run,” shares the Cameroonian, who knows the group she has been with for over two decades now.

“What is surprising is that in the personal context, women, whether they are mothers, sisters, wives or friends, are known to be strong, hard-working, as well as great advisors. Why should it be any different in a professional setting? We must believe in our dreams. Nothing is impossible for those of us who are willing to learn, grow, perform, and take care of our physical and mental well-being,” she says, knowing that she is a role model for young people looking for female figures in the sciences.

“Women should always aim to excel…”

Julia Atta is another female leader who showcases Nestlé’s commitment to gender equity. A graduate of the University of Science and Technology in Ghana, she joined Nestlé in 2006 as an intern at the Tema factory, before taking over as head of the Mossel Bay Factory beverage production units at Nestlé South Africa in 2021. For her, “women can face challenges in balancing family life and work; for this reason, it is important that their work environment supports their uniqueness”.

Beyond this journey, women’s engagement can help to change things. “It’s important for women to look for opportunities and leverage them. Some career opportunities may not seem to come at the right time in personal life. But, with some adjustments, it is often possible to balance opportunities with other things that matter to one’s personal life. Women should always aim to excel in everything they do,” she says.

“Diversity improves decision making…”

Even when women are able to move up in leadership, beyond competence, they can have an even greater impact in the management of companies. “When there is a good mix of men and women, teamwork tends to be more balanced, helping to develop greater empathy between individuals. Diversity stimulates greater effort from everyone, which improves decision-making,” says Bunmi Etti-Mfon, who has been managing Nestlé’s production units in Agbara, Nigeria, for four years.

For over eight years, Bunmi Etty-Mfon, was responsible for managing the performance of Nestlé factories in West and Central Africa, before taking on the role of head of the MILO production unit in Agbara, one of Nestlé’s biggest businesses in Nigeria, in 2019. She spent just five months there, before taking over the reins of the  plant that produces MAGGI bouillons for millions of consumers in Nigeria.

“Developing a career at Nestlé as a woman and mother has been a rewarding and intellectually stimulating experience for me. I have contributed significantly to the launch of many new products in all categories. I have been involved in projects that have improved the efficiency of various production processes. Today, I continue in this trend, and I am currently leading some incredible initiatives that will increase productivity, reduce costs, and maximize customer satisfaction,” she says.

These three women represent  the changes that can be made to strengthen the leadership teams within companies through diversity and inclusion. “We’ve made good progress in our region toward greater gender equity in our company. We encourage our leaders to support an inclusive workplace, the use of Nestlé’s unique paid parental leave program and innovative flexible work policies. Similarly, we have strengthened mentoring and coaching programs to help women reach their highest potential,” says Fridah Muchina, Head of Human Resources for Nestlé Central and West Africa.

Distributed by APO Group on behalf of Nestlé

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African Energy Week (AEW) 2024 to Navigate the Future of Oil & Gas Financing Amid Energy Transition

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14 hours ago

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September 9, 2024

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The African Energy Week: Invest in African Energy conference will gather industry leaders to explore oil and gas financing tools and strategies in the age of the energy transition

CAPE TOWN, South Africa, September 9, 2024/APO Group/ — 

As the global energy landscape shifts towards cleaner and more sustainable sources, Africa’s oil and gas sector faces challenges in securing financing for upstream projects. Nearly $3 billion was mobilized toward African energy projects in 2023 – with a significant portion directed towards natural gas – according to the African Development Bank (AfDB). As global markets evolve, African financing strategies must adapt to support both economic growth and long-term sustainability.

The Financing Upstream Oil & Gas in the Age of Transition session at African Energy Week (AEW): Invest in African Energy will explore how African oil and gas projects are securing financing in a rapidly changing landscape. The session will unpack evolving regulatory frameworks, innovative financing models and the balance between traditional fossil fuel and renewable energy investments. Moderated by Laura Sima, Director of S&P Global Commodity Insights, the panel will feature Trafigura Group Head of Upstream Finance Matthieu Milandri; Africa Finance Corporation Vice President Taiwo Okwor; and Project & Export Finance Africa Managing Director & Regional Head Fathima Hussain.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

To address shifting investment priorities, a dedicated Africa Energy Bank (AEB) has been launched by the African Petroleum Producers Organization and African Export-Import Bank. To be based in Abuja, the AEB aims to bridge Africa’s infrastructure funding gap and accelerate the development of energy projects across the continent. As a supranational institution, the AEB will provide critical funds for emerging oil and gas projects across Africa, supporting the sector amid the global energy transition, and is currently open for signature by prospective member states.

African natural gas projects have been a leading destination for foreign investment, as gas is considered a cleaner alternative and even labeled as “green energy” in the EU. Projects like Senegal and Mauritania’s Greater Tortue Ahmeyim LNG – led by bp and Kosmos Energy – have secured $4.8 billion in investment from a mix of equity from the IOCs and debt financing supported by multilateral banks. Blended finance – combining both public and private sector capital – has emerged as a critical solution to mobilizing large-scale financing in Africa’s energy sector. The TotalEnergies-led Mozambique LNG project represents a total post-FID investment of $20 billion, of which $14.9 billion comes from senior debt financing including a blend of loans from export credit agencies, multilateral finance agencies like the International Finance Corporation and the AfDB, and commercial banks.

Significant capital is also flowing to high-potential hydrocarbon basins with strong exploration prospects. In Namibia, multinationals TotalEnergies and Shell are continuing to explore the deepwater Orange Basin, with TotalEnergies allocating 30% of its one-billion-dollar exploration budget to the country in 2024 alone. Namibia’s government has been active in courting global financiers, emphasizing the need for sustainable energy development alongside oil and gas exploration and production. In Angola, TotalEnergies, Petronas and state-owned Sonangol secured a $6-billion FID for the Kaminho deepwater project in Block 20 that will develop the Cameia and Golfinho ultra-deepwater fields. The project will employ an all-electric FPSO unit, designed to minimize greenhouse gas emissions and eliminate routine flaring. Independent upstream company Invictus Energy also recently secured $10 million from local institutional investors for its Cabora Bassa project in Zimbabwe to develop the country’s first major oil and gas field.

The upcoming finance session will also position public-private partnerships as a mechanism for financing large-scale energy infrastructure projects, as well as de-risking investments. The Republic of Congo has advanced the development of its Banga Kayo block through an amended PSC with China’s Wing Wah Oil Company, enabling the commercialization of the block’s gas resources. In Nigeria, the $2.6-billion Ajaokuta–Kaduna–Kano gas pipeline is being financed through both public and private funds, with the Nigerian National Petroleum Company as the main financier and international lenders including the Industrial and Commercial Bank of China and Bank of China involved. Nigeria’s Federal Government has provided a sovereign guarantee covering 85% of the project’s costs, securing crucial financing and building investor confidence.

Distributed by APO Group on behalf of African Energy Chamber.

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The Islamic Development Bank Institute (IsDBI) Completes Pilot Implementation of Islamic Finance Strategic Mapping Framework in Kazakhstan

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20 hours ago

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September 9, 2024

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This comprehensive assessment, conducted in collaboration with the Astana International Financial Centre (AIFC), aimed to identify key opportunities and challenges within the country’s Islamic finance sector

ASTANA, Kazakhstan, September 8, 2024/APO Group/ — 

The Islamic Development Bank Institute (IsDBI) (https://ISDBInstitute.org/) is pleased to announce the successful completion of its flagship Islamic Finance Strategic Mapping Framework (IF-MAP, formerly IF-CAF) (https://apo-opa.co/4cXPwti) pilot exercise in the Republic of Kazakhstan. This comprehensive assessment, conducted in collaboration with the Astana International Financial Centre (AIFC), aimed to identify key opportunities and challenges within the country’s Islamic finance sector.

The pilot initiative of IF-MAP was launched (https://apo-opa.co/3MyooGO) in June 2023, and involved extensive consultations with key stakeholders, including government agencies, financial institutions, and industry experts. The resulting tailored policy recommendations report, which outlines the sector’s progress and provides recommendations for future development, has been submitted to the AIFC.

AIFC’s commitment to promoting Islamic finance is evident through favorable conditions offered to Islamic financial companies to operate in both the retail and corporate sectors

As one of the key outcomes of the exercise, IsDBI and AIFC jointly developed the Kazakhstan Islamic Finance Country Report 2024 (https://apo-opa.co/3B4GwFv) which H.E. the Governor of AIFC, H.E. Mr. Renat Bekturov, launched on 6 September during the Astana Finance Days. The report highlights the immense potential of Islamic finance in supporting Kazakhstan’s economic growth and development.

In his welcome address, H.E. Mr. Renat Bekturov noted: “This report not only provides a comprehensive overview of the Islamic finance industry but also highlights our shared vision for the future.  AIFC’s commitment to promoting Islamic finance is evident through favorable conditions offered to Islamic financial companies to operate in both the retail and corporate sectors. The report is an invaluable guide for investors, policymakers, and stakeholders.”

Commenting on the successful completion of the pilot exercise, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, stated, “We are delighted to have collaborated with the AIFC on this important initiative. The Kazakhstan Islamic Finance Country Report offers a valuable analysis of the sector’s current state and future prospects. We believe that the report, together with the IF-MAP policy recommendations submitted to the AIFC, will be instrumental in guiding policymakers, investors, and financial institutions as they work to harness the full potential of Islamic finance in Kazakhstan.”

The IsDB Institute remains committed to supporting the growth and development of the Islamic finance industry worldwide. Through its research, training, and capacity-building programs, the Institute seeks to contribute to the creation of a more inclusive and sustainable financial system.

The Kazakhstan Islamic Finance Country Report 2024 is accessible on IsDBI website here: https://apo-opa.co/4ge7jQ1

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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ST Telemedia Global Data Centres Reinforces Commitment to Digital India, Invests US$3.2 billion to add 550MW Data Centre Capacity

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20 hours ago

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September 9, 2024

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SINGAPORE – Media OutReach Newswire – 6 September 2024 – ST Telemedia Global Data Centres (STT GDC), one of the world’s fastest-growing data centre colocation services provider headquartered in Singapore, today announced a significant investment of US$3.2 billion (INR 26,000 crores) to expand its data centre capacity in India by a substantial 550MW, nearly tripling the company’s IT load capacity to meet the demands of India’s thriving digital economy, over the next 5-6 years.

This strategic investment reflects STT GDC’s confidence in India and the growth of its digital economy, as well as aligning with the burgeoning demand for digital infrastructure, driven by the surge in data consumption, cloud computing, digital transformation, and growing adoption of AI applications. This investment also further solidifies our market leadership in India, where we already command about 28% of market share by revenue.

STT GDC India is majority-owned by STT GDC in partnership with Tata Communications Ltd, which holds a minority stake in the company. STT GDC India’s portfolio consists of 28 data centres across 10 cities throughout India. Today, its data centre portfolio has a total combined capacity of over 318MW of IT load, with a well-diversified portfolio of about 1,000 enterprise customers that include many Fortune 500 companies. More recently, STT GDC India was recognised as a Great Place to Work for the fifth consecutive year, as well as one of the Best Places to Work in Asia.

“As we celebrate STT GDC’s 10th anniversary this year, embarking on this ambitious expansion is a sign of our confidence in Digital India and the future of one of STT GDC’s strategic and fastest growing markets globally. Prime Minister Modi’s vision for Digital India has paved the way for opportunity; today the India digital economy’s growth rate of almost three times overall GDP growth is putting the country on pace to achieve a US$1 trillion digital economy by 2027-20281. At STT GDC, we want to play an active role in co-investing and contributing to India’s long-term success by investing in the foundational digital infrastructure that will help further accelerate Digital India. We are excited about the opportunities ahead and are confident in our ability to contribute significantly to India’s digital transformation,” said Bruno Lopez, President and Group Chief Executive Officer, ST Telemedia Global Data Centres.

STT GDC, along with several other Singapore business leaders, participated in a Business Roundtable with Prime Minister Narendra Modi hosted by the Singapore Business Federation on 5 September 2024.

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1India digital economy: India to be $1 trillion digital economy by FY28: IT minister Rajeev Chandrasekhar – The Economic Times (indiatimes.com)

About ST Telemedia Global Data Centres
ST Telemedia Global Data Centres (STT GDC) is one of the fastest-growing data centre providers with a global platform serving as a cornerstone of the digital ecosystem that helps the world to connect. Powering a sustainable digital future, STT GDC operates across Singapore, the UK, Germany, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, providing businesses an exceptional foundation that is built for their growth anywhere. For more information, visit https://www.sttelemediagdc.com/.

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