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Sharp Unveils Mega Showroom and Service Centre
In what appears a multi- million dollar investment meant to capture the electronic market in Nigeria, Sharp Corp and G & W have entered into strategic alliance to bring quality products and services of the company to Nigeria.
During the unveiling last week of a showroom in Opebi, Lagos, Dr. Chris Imoka, chairman, G&W said the Ikeja showroom was coming after such centres had been opened in Victoria Island and in Abuja and intimated that plans were on the way to open more centres in the cities of Abuja and Kaduna in continuation of their resolve to bring .excellent services closer to their customers
Makoto Takahashi, chief executive officer, Sharp Corporation’s Asian, Oceania and Middle East Operations while describing Nigeria as one of the most dynamic markets representing the biggest potential for business investment in Africa, said that one of the main reasons for opening the showroom was because of the strategic location of the place for customers to visit and buy their latest products.
Takahashi said that the Nigerian market had been a vital market for Sharp’s audio visual and home appliances even as he emphasized that customers’ demand for the LCD TV would escalate as people are adopting new attitudes changing from conventional to lifestyle products. He further said that Sharp AQUOS had been ranked as one of the top brands among global LCD-TV market making number one sales in Japan and also said that the company is leading in the development of solar solutions based on solar cells. Takahashi said the team were in Nigeria because they believed there was growth and expansion for Sharp and promised its customers new products that would inspire better lifestyles for people all over the world. In 2012 Sharp will mark the centennial anniversary of its foundation and in this regard , it is aiming to fulfill its vision 2012 of contributing to the world through environment and health-conscious business focusing on energy-saving and energy creating products. To achieve the increasing demand of LCD panel, Sharp says it is able to meet the demand for LCD panel with its cutting –edge technological plants in Japan and with the new LCD panel plant commencing operation by March 2010 which it says will be the first facility to use the tenth-generation glass substrates, the worlds largest.
Prince Julius Adelusi-Adeluyi,group chairman of Odu’a Investment Ltd who was the chairman of the occasion called on the government to provide the necessary infrastructure that will make businesses to thrive in Nigeria saying that without infrastructure even small businesses will not develop.
The investiture was witnessed by Dr. Chris Imoka, chairman of G&W International Ltd., Chief Ben Obi, representative of Anambra State governor, Madam Loi Eng Koon, managing director of G&W International Ltd., Mr. Sawada, managing director, Sharp Roxy Sales Singapore, among others .
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
News
Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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