IFC Partners with Advans S.A. to Set Up Microfinance Bank in Oyo State

27 Jan 2012 14:43 Africa/Lagos

IFC Partners with Advans S.A. to Set Up Microfinance Bank in Oyo State, Nigeria

LAGOS, January 27, 2012/African Press Organization (APO)/ -- IFC, a member of the World Bank Group, is investing $1.1 million (174.5 million Nigerian naira) alongside Advans S.A., German development bank KfW, and Dutch development bank FMO to establish La Fayette Microfinance Bank in Oyo State, Nigeria.


La Fayette, which is expected to start operations during the fourth quarter of 2012, will serve small and medium enterprises that have limited or no access to formal banking services. Financial surveys indicate that only one in five Nigerian adults owns a bank account, and over half of the country's adult population is excluded from access to financial services.


“With the objective of becoming the leading microfinance bank in Oyo State, La Fayette will address a critical gap by providing quality financial services to help small businesses grow and create jobs,” said Claude Falgon, Director of Advans S.A.


Advans S.A. will be La Fayette's lead shareholder with an equity investment of $3.1 million (501.0 million naira). IFC and KfW are each investing $1.1 million (174.5 million naira), while FMO is investing $940,000 (150.0 million naira).


Within five years, La Fayette expects to establish 11 branches, broadening access to finance and stimulating economic growth across Oyo State.


“Microfinance is a vital tool in the fight against poverty and forms a core part of IFC's efforts to support small-scale entrepreneurs in Africa,” said Solomon Adegbie-Quaynor, IFC's Country Manager for Nigeria. “In Nigeria, IFC aims to increase the number of commercially viable microfinance institutions, especially in under-served areas like Oyo State, so that a vibrant private sector can give rise to economic growth.”


IFC has a long-standing partnership with Advans S.A., which is building a network of microfinance institutions in developing countries across Africa and Asia. IFC is also a shareholder of Advans network banks in Cameroon, the Democratic Republic of the Congo, Cote d'Ivoire, and Ghana. The Nigeria investment reaffirms IFC's partnership with Advans SA. to support entrepreneurs in Africa.


About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion.

For more information, visit www.ifc.org.


Source: International Finance Corporation (IFC) – The World Bank

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27 Jan 2012
14:43	IFC Partners with Advans S.A. to Set Up Microfinance Bank in Oyo State, Nigeria
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EFA Celebrates Diamond Jubilee in Grand Style

PRESS RELEASE

Brussels, 27 January 2012

EFA 60 Years On

European Festivals Association (EFA) kicks off its Diamond Jubilee at the occasion of the annual round table with Commissioner Vassiliou

In 2012, the European Festivals Association (EFA) celebrates the 60th anniversary of its foundation. Under the motto “60 Years On: Festivals and the World”, the festival network is setting up a broad range of activities. Throughout the year, EFA will join forces with hundreds of festivals and its partners around the world to celebrate, commemorate and in particular reflect on the present and future of arts festivals. On 26 January in Brussels, 20 renowned festival leaders met Androulla Vassiliou, European Commissioner for Education, Culture, Multilingualism and Youth, to confirm festivals’ contribution to the European integration process also in the future.

“Direct cooperation and dialogue with festivals and the Association, the real players in the field, is vital. I greatly appreciate EFA’s contribution. I am delighted about our exchanges on a future EU festival policy and congratulate EFA to 60 years of successful engagement for Europe,” underlines Androulla Vassiliou.

EFA was founded in Geneva/Switzerland in 1952 by philosopher Denis de Rougemontand composer Igor Markevitch. “Together with our 111 members – individual festivals, national festival associations and cultural networks – from 40 countries, sister organisations, and partners networks from all over the world, we will raise our voice for the arts, for culture and for festivals in Europe and the world,” states EFA President Darko Brlek.

A key highlight will be the Jubilee Gala from 23-26 May in Bergen/Norway, co-organised by the Bergen International Festival which also celebrates its 60th anniversary in 2012. The high-level event will welcome around 170 participants, including EFA's founding members, national and international politicians, sister festival networks from Africa, Asia and the Arab world, as well as the press.

The Jubilee Gala will be opened on 23 May in the presence of honorary public authorities from all over Europe and the world and Oleg Caetani, conductor and son of Igor Markevitch. It coincides with the opening of the Bergen International Festival which, in 2012, will offer an outstanding artistic programmation to its audiences: Stefan Herheim, one of the most significant and innovative opera directors of our time, with Xerxes by Händel (guest performance from Komische Oper Berlin).

“We are proud to host this historical event. In 2012, we aim to emphasise how the local, the national and the international are connected through artistic collaboration. The Jubilee Gala will demonstrate these dynamics,” stresses Per Boye Hansen, Director Bergen International Festival.

On 24 May, the Jubilee Conference takes place in co-production with the European House for Culture, the Access to Culture Platform and “A Soul for Europe”. Following the motto “Celebrate the Arts – Transform People – Imagine the World” issues to be discussed include: festivals as platforms for artistic expressions; as stages for audience participation (with new media as one tool); and as partners for the business world.Together with the co-organisers, EFA will set the “Bergen Agenda” engaging festivals in the years to come.

All details and initiatives set up by the Association and festivals around the world can be found on the newly launched Jubilee website (www.efa-aef.eu/efa60). It raises issues at heart of the festival business today and informs about publications to be released. Together with a new blog, “Festival Bytes”, the website is the place for everybody interested to become part of the activities. For more information please contact efa60@efa-aef.eu.


Contact:
Juliane Reissig
Communication Manager
European Festivals Association
Kleine Gentstraat 46
9051 Ghent/Belgium
T +32 9 241 8080 / F +32 9 241 8089
Juliane@efa-aef.eu / www.efa-aef.eu


The European Festivals Association (EFA) is the umbrella organisation for festivals across Europe and beyond representing more than 100 festivals, national festival associations and cultural networks from 40 countries. Information on EFA and its activities can be found on the EFA website at www.efa-aef.eu.

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Nigeria Needs Commandos and Mercenaries to Tackle the Storm Troopers of Boko Haram

Boko Haram terrorists

Nigeria Needs Commandos and Mercenaries to Tackle the Storm Troopers of Boko Haram

The latest intelligence reports across the borders have confirmed that the dreaded Boko Haram Islamic terrorist sect on rampage in the middle belt and northern region of Nigeria is linked to the Al Qaeda in the Islamic Maghreb (AQIM). The AQIM provided them training in guerrilla warfare and Islamic psychological warfare which the Boko Haram put to good use in their insurgency in Nigeria. Therefore, the Nigerian government must face the Boko Haram with drastic counter insurgency operations on all fronts as the United States of America is doing in counter terrorism operations in the Middle East where Academi and other private forces were engaged in the military commando operations to tackle the Al Qaeda, Taliban and other Islamic terrorist forces.

The confirmation of the Al Qaeda link means that the mission of the Boko Haram is well organized and programmed to last for as long they are opposed by the government and others. Therefore, we cannot predict when the war against Boko Haram insurgents will end. The government should reorganize the Nigeria Armed Forces and have all the national law enforcement and security agencies reprogrammed on counter intelligence, counter revolution, counter terrorism and counter insurgency operations.
Nigeria needs these extra measures in modern anti-terrorism warfare and the engagement of commandos and mercenaries will tackle these insurgents squarely, because only commandos and mercenaries can go the extra mile in the battle of wits and the battle of wills against the suicidal mission of the Boko Haram.


A commando in action.

Only this way can help in the overall control and prevention of further terrorist onslaughts of the Boko Haram and other terrorist elements of the lunatic fringe on rampage in Nigeria and across the borders.


~ By Orikinla Osinachi, a prize winning Nigerian writer and TV/Film producer, the author of Children of Heaven (1988), Sleepless Night (2002), Scarlet Tears of London (2006), Bye, Bye Mugabe (2008) and In the House of Dogs (2011). He is also the editor of The Language of True Love (2006) and publisher of The Mandate of MKO Abiola (2007).

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26 Jan 2012
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10:56	WCC asks Nigerian president to support Christian Muslim joint efforts for peace
10:45	Nigerian archbishop encourages inter-religious solutions to violence

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World Council of Churches Wants Nigerian President To Support Christian Muslim Joint Efforts for Peace

26 Jan 2012 10:56 Africa/Lagos



WCC asks Nigerian president to support Christian Muslim joint efforts for peace

GENEVA, January 26, 2012/African Press Organization (APO)/ -- The World Council of Churches (WCC) general secretary Rev. Dr Olav Fykse Tveit expressed deep sadness over the current wave of violence in Nigeria, calling on the churches to pray for the victims, and asking Nigerian president to support solidarity efforts for peace by both Christians and Muslims in the country.

In his letter to the Nigerian president Goodluck Jonathan, Tveit wrote, “We continue to mourn the loss of life, particularly among those who were killed in brutal attacks this past weekend in Kano and the attacks on and deaths of Christian worshipers celebrating the mass service of Christmas in Abuja only a month ago.”

Tveit urged the need to remain both “vigilant and prayerful” as the recent developments in Nigeria pose a threat to peace and stability in the region.

He said that actions of both Christian and Muslim leaders working together in Nigeria will ultimately allow both communities to live in peace.

“Nigeria cannot become another battlefield where religion is used to promote division, hatred and allowing for destructive intentions. Christians and Muslims around the world offer their support to our sisters and brothers in Nigeria to enable them to live together in peace.”

On behalf of the churches, Tveit expressed condolence to the bereaved families suffering from the violence and hoped for the justice and healing of victims in the country.


Source: World Council of Churches (WCC)

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10:56	WCC asks Nigerian president to support Christian Muslim joint efforts for peace
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Basketmouth, The Funniest Man in Nigeria Drops First Single

The funniest man in Nigeria, Basketmouth drops first single Where You Dey featuring the popular young hip hop singer Whizkid and also eLDee.



I am a fan and I really Digg his hilarious THE BIG FRIDAY SHOW on MTV Base.

Basketmouth whose real name is Bright Okpocha is a native of Abia State in southeastern Nigeria and a graduate of Sociology and Anthropology from University of Benin, UNIBEN, who dropped his certificates to become a stand-up comedian. And he has no apologies or regrets for doing so since that has brought him both fame and fortune as the most bankable comic act in the most populous country in Africa.


~ By Orikinla Osinachi, author of Scarlet Tears of London, In the House of Dogs and other books.

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Rivers State: Traders and Multiple Ticketing Agents at Oil Mill Market

Rivers State: Traders and Multiple Ticketing Agents at Oil Mill Market

~ By Nwaorgu Faustinus

In the time past, this writer wrote an article with the caption “Nigeria: Rivers State – the Bill on Illegal Development published in some online media sites and a few national dailies where he commented on the collection of all sorts of levy from land developers, borehole drilling companies among others. In that opinion piece I noted that “ It is no longer uncommon to see building projects such as the laying of foundation, erection of fence, sinking of borehole and molding of blocks at site of a building stopped by agents who claim to be task force for the collection of development fee. Work at such sites can commence only when the agents are settled”.

In the same article I also drew the attention of the appropriate authority charged with the responsibility of overseeing the activities of Ticketing Agents at the market where I wrote “It is also important to draw the attention of the state government and the local government that oversees the collection of revenue from traders at the Oil Mill Market on Wednesdays, on the activities of agents that impose multiple levy on petty traders at the market. The manner the agents go about the collection of levy leaves one to wonder if the money collected eventually gets to the appropriate authority”.

Respite later came when the bill prohibiting of the collection of development was passed into law by the Rivers State House of Assembly. While one thought that the passage of the bill into law would put a total stop to the collection of the said levy, a few of these agents who have not turned over a new leaf as alleged by some residents in Elelenwo/Akpajo have continued to look out for people developing their land, borehole drilling companies, drilling boreholes in residential homes, labourers digging the foundation of building sites etc, with the aim of pressuring them to pay the obnoxious “Marching Ground”.

In addition, the second and most important issue raised in this piece which is the selling of multiple tickets to traders who sell their wares at the Oil Mill Market every Wednesday has become a serious matter given the alleged indiscriminate method the ticketing agents or touts go about their duties. Most times petty traders who cannot bear the multiple tickets as it allegedly left them with little or no profit, gets embroiled with the ticketing agents who oftentimes confiscate their wares and at the extreme inflict indelible injury on recalcitrant ones who do not want to let go of their wares. Is it when these agents kill someone or give those concerned to checkmate this multiple ticketing a bad name, (if they have not gotten the bad name already) that something urgent and immediate should be done about them (ticketing agents)? According to a petty trader at the market who does not want her name mentioned said the multiple ticketing has led to some traders who come from Aba, in Abia State, to stop coming to the market to sell their wares while others in Rivers State have followed suit by constructing kiosks and tables where they display and sell their merchandise either in front of their homes, their landlady or landlord’s homes or any other place where they are not harassed or assaulted by the agents.

Needless to say a major share of revenue which ought to accrue to the state government is lost as a result of the so to say corrupt and greed-propelled multiple ticketing orchestrated by ticketing agents. It is not late for the Rivers State government to harmonize these different tickets into one or two to save the traders the assaults and harassment they go through in the hands of ticketing agents. It is therefore incumbent on the state government and the appropriate local government to monitor these agents and to put suitable mechanism in place; judicious levy collection devoid of any underhand dealings, proper accounting of money collected etc.

It is believed if the above is done, the unnecessary multiple ticketing that characterize the collection of levy at the market as part of the state government/local government internally generated revenue would be checked and sanity will not only return to Oil Mill Market but also traders who have been scared away from the market will come back. God bless Rivers State.


Nwaorgu Faustinus writes from Port Harcourt, Rivers State. Mobile: +2348035601312. Email ngorokpalaresearcher@gmail.com or ngorokpalaresearcher@yahoomail.com

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Boko Haram: In the Eyes of the World

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Rape on Big Brother Brazil!

Daniel Echaniz is alleged to have raped Monique Amin live on the Big Brother house in Brazil after a steamy house party.

Click here to see the video on our Reality TV.

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Gays Are Rotten - Zulu Monarch King Goodwill Zwelithini

Zulu King Goodwill Zwelithini kaBhekuzulu

Did his royal highness say gays are rotten?
OMG! He is in trouble o!
But of course, who does not know that Zulu monarch King Goodwill Zwelithini does not like gays and he is the last person to pretend otherwise unlike the hordes of hypocrites in our midst who want to live in denial of their homophobia. But would you blame an old man with many wives and over 27 children in a kingdom where virgins parade topless before him and other men to take their pick of the sexiest black hottie to take home and deflower overnight.

Well, if he says gays are rotten, who isn't?
Is there any human without sin?

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Arianna Huffington Receives Aenne Burda Award

Arianna Huffington Receives Aenne Burda Award



Arianna Huffington, founder and chief-executive editor of the Internet-newspaper The Huffington Post, was honored with the Aenne Burda Award during the last day (January 24) of the international digital conference DLD in Munich. Dr. Maria Furtwängler-Burda consigned the trophy, a statue of Pallas Athene. The award honors successful and creative female entrepreneurs with visionary ideas from the digital world, this year for the seventh time already. Maria Furtwängler pleaded in her laudatory speech for female empowerment as start-up founders. Arianna Huffington could serve as a role model here: “Arianna Huffington experienced backstrokes and was never deterred by them – her fearlessness is a stimulus for women, to get active themselves.”

Arianna Huffington, born as Arianna Stassinopoulos in July 1950 in Greece, counts as one of the leading and most influential women of the modern media generation. Still in May 2005, when “Huffington Post” entered the online-media world, nobody took her serious. Today, six years later, “Huffington Post” is a constant in American journalism. In February 2011 the internet corporation AOL acquired “Huffington Post” for $315 million. Huffington is also a successful book author and published, among others, “One Becoming Fearless: …in Love, Work and Life” and “Third World America”. In 2006 and 2011 Huffington was on Time Magazine’s “Time 100” list, which features the 100 most influential people worldwide.

The “Aenne Burda Award for Creative Leadership” honors women for their entrepreneurial and creative achievements within the digital industry. The price is consigned in memory of the visionary entrepreneur Aenne Burda, one of the gorgeous symbolic figures of the German post-war generation. After 1949, Aenne Burda grew the world’s biggest fashion publishing house. The award is consigned since 2006. Earlier honorees are Marissa Mayer, Vice President of Google (2006), Flickr founder Caterina Fake (2007), TV-presenter and entrepreneur Martha Stewart (2008), internet-pioneer and investor Esther Dyson (2009), chairwoman of the Mozilla Foundation Mitchell Baker (2010) as well as Net-a-Porter founder Natalie Massenet (2011).

For more information: www.dld-conference.com
About DLD:

DLD is a Burda Digital company, one of the leading European Internet companies related to a media group. The group with managed revenues of Euro 1.2 billion contains the companies Tomorrow Focus AG, Burda Consumer Tech Group, Burda Direkt Services and Xing AG as well as a venture business with holdings in, among others, Zooplus, Glam Inc. and Ubermedia.

Further information:
Michael A. Pries
Corporate Communications
Hubert Burda Media
Tel.:+49 89 9250-3784
Mail: michael.pries@burda.com

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