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ADSEMA Commends Red Star for Relief Materials to IDPs

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Adamawa State Emergency Management Agency (ADSEMA) has commended the Red Star Foundation, on behalf of the state government, for its relief materials and food stuffs donated to the Internally Displaced Persons (IDPs) in Malkohi camp of the IDPs located about 40 kilometers away from Yola the Adamawa State capital.

The Foundation donated 30 bags of grains including rice, beans, maize, guinea corns; 10 bags of sugar and salt; 24 cartons of noodles; 5 gallons of vegetable oil; beverages and 8 boxes of cloths. Presenting the materials in Yola, Alhaji Aminu Dangana, the leader of delegation and director, Red Star Express Plc, disclosed that the company, through the Red Star Foundation, came all the way from Lagos to identify and show concern with the situation of the IDPs.

“Our presence here is not only to present this donation but to show concern at the plight of the people. With the turn out today and what we have seen here, we will not stop here. We will mobilize others on the need to support government in assisting you and making your stay comfortable in the camp”, Dangana said.

Explaining the rationale behind the donation, Tonye Preghafi, divisional managing director of Red Star Freight and president of the Red Star Foundation, stated that it is a way of giving back to the society as the foundation has continued to play a major role in alleviating the needs of the people in its immediate society.

“The foundation runs the ‘I care project’ in which the staff of the company and their friends contribute to give back to the society. This is part of what we are doing here today as all these materials were put together by the staff. Also we have a scholarship scheme for indigent students currently running in Lagos, Port Harcourt and Kano”, he said.

Speaking further, Tonye disclosed that the donations are also part of the series of activities to mark the 25th anniversary of Red Star Express Plc later in the year. “We are not stopping here. We will do more as the year runs by. The company is 25 years this year. In our consistent tradition, we will be moving round to contribute our own quota in alleviating needs”, he said.

Receiving the materials in the presence of the IDPs, Abdullahi Yakubu, an official of the Adamawa State Emergency Agency, thanked the company for the gesture which he said would be put to judicious use. “In this camp, all donations are presented in presence of all the IDPs like we have witnessed today. Immediately the donations are made, the IDPs take charge by themselves”.


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Coronation Report Reveals Key Role of Private Sector to Nigeria’s Infrastructure Funding

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The maiden edition of Coronation group infrastructure report has revealed that the private sector has a critical role to play in infrastructure funding in Nigeria.

The report stated that the key to private-sector infrastructure investment is for dealmakers to structure transactions that offer attractive returns combined with an acceptable degree of risk, the risk often being eased by agreements supplied by infrastructure investment vehicles such a Infracorp.

The report said that the investor base can play its part, providing liquidity as part of its own efforts to create long-term returns with low relationship with public markets.

The report noted that Nigeria’s future infrastructure development depends on private capital, including capital allocated to Public Private Partnership (PPP) ventures, given the huge amounts of money required and the inability of government to provide it.

The report explained that the record of the federal government in capital expenditure over several decades highlighted the need for increasing private-sector investment, adding that public expenditure on transportation, education, hospitals, power, housing, and other essential infrastructure has not kept up with the needs of a population growing at a long-term rate.

The report said Public-private partnership differs from government capital expenditure in that it must pay for its capital, noting that it must attract private sector capital and therefore provide better returns than the risk-free returns of government debt.

According to the report, “Inflows of petro-dollars into government coffers did not translate into proportionately more being spent on capital expenditure, surely a missed opportunity. Still worse was to follow in the period 2011-2020 when the average level of public sector capital expenditure fell to 1.1 percent of Gross Domestic Product (GDP).”


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DLM Asset Management Set to Host Webinar to Discuss Financial Stability in Times of Economic Distress

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DLM Asset Management Limited, a subsidiary of DLM Capital Group, is hosting a webinar with the theme, “Maintaining financial stability in times of economic distress.” The much-awaited webinar, slated for Thursday, March 28, 2023, at 11 a.m., is going to cover the essential strategies to navigate through economic challenges and safeguarding one’s financial future.

Hosted by industry experts, the webinar will delve into the following key topics and teach attendees:

  • How to adopt a proactive, knowledgeable, and adaptable approach to risk assessment and mitigation.
  • How to thrive in this present economy and remain financially resilient.
  • Financial planning and discipline

During its interactive Q&A session, attendees will have the opportunity to ask questions and learn more about the subsidiary’s services from the hosts and speakers of the webinar. This includes the DLM fixed income fund, which Nairametrics identified as one of the top-performing Nigerian mutual funds in 2023.

This webinar is designed for investment savvy individuals Income earners, institutional and corporate investors, high net worth individuals, and the mass retail market.

Interested parties can register for the webinar by using this link, which is currently active. Seize the opportunity to gain experience on insightful things and get ready for a rewarding encounter.

 


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Firm Canvasses Affordable Technology to Drive Business Efficiency

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Information Communication Technology (ICT) service provider, Thamani Consulting, has stressed the need to make technology much affordable so as to make businesses seamless and efficient.

Olubunmi Abegunde, Managing Partner of the company, averred that making technology access affordable would enhance its penetration and increase uptake of digital technologies to drive employment growth of more than 22 million Africans joining the workforce each year.

He explained that the organisation remained committed to empowering businesses to thrive in Nigeria’s dynamic environment, hence churns out innovative solutions to address business problems across disciplines.

“Leveraging 20 years of combined market experience executing successful IT Projects with local and multinational organisations, we aim to capitalise on this to improve strategic utilisation of technology in Africa and support capacity building through access to requisite information technology,” he said.

He explained further that the African region more than others need increased usage of digital technologies to level-up globally, noting that polices to drive low-end technology access must be prioritised.

“This is why we do not compromise the balance of quality, standard professionalism and yet affordability in the choice of solutions we offer to clients which include: SAP training and Implementations, Software Asset Management, Plant Maintenance Process Automation and Automation for manufacturing Industries, amongst others.”


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