Nigeria's Regulatory Struggle for Islamic Finance and Islamic Finance Awards

21 Aug 2013 11:03 Africa/Lagos

Nigeria's Regulatory Struggle for Islamic Finance 


LONDON, August 21, 2013 /PRNewswire/ -- Nigeria boasts Africa's fastest growing banking sector and is now looking to expand its reach to Islamic finance, provided it can negotiate the labyrinthine mass of regulatory initiatives. The country's Muslim population is close to 80 million, yet the Nigerian Islamic finance industry remains underdeveloped and ill-equipped to cater for demand, in large part due to exhaustive regulatory requirements.

 
Nigerian regulatory bodies have introduced a slew of new regulations over the past few months intended to transform the country into a hub for Islamic finance. However, regulations have rather impeded progress as the very limited range of products and services to date are offered by only two institutions.
The Islamic finance industry represents a huge opportunity for Nigeria, having spread to over 50 countries and worth an estimated $1trn annually, according to Moody's. Despite the industry's aversion to paying interest, there is room for the market to grow in Nigeria. Research by local group Efina suggests that nearly 35 percent of Nigerians not investing in non-interest banking projects would likely do so if given the opportunity.


"The potential is there but the market is negligible in Nigeria because we have only one Islamic bank and one window - but it has potential to grow", said Bashir Aliyu Umar, special adviser on non-interest banking to the Nigerian Central Bank governor. Provided Nigeria can adjust to regulatory restrictions, Islamic Finance offers an incredible opportunity for an already booming market to expand further still.
News of Nigeria's struggle for Islamic finance coincides with World Finance ' s prestigious Islamic Finance Awards, which offer an opportunity for the public to have their say on the industry's best Sharia compliant institutions worldwide.


World News Media is a leading publisher of quality financial and business magazines, enjoying a global distribution network that includes subscriber lists of the most prominent and senior decision-makers around the world, as well as comprehensive airport, hotel and conference site distribution.

 http://www.worldfinance.com/awards/islamic-finance-awards

For further media information contact:
 
World Finance
Michael McCaw
Editorial Department
+44(0)20-7014-0330
Michael.mccaw@worldfinance.com


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Meet Miss Ugochi Nwachukwu, the MD of Recherché Signature Events and Gifts

An Interview with  Miss Ugochi Nwachukwu the MD of Recherché Signature Events and Gifts Nigeria Limited, Nigeria’s top Echelon Exclusive Events Planners on the occasion of Royal Lifestyles Group’s sponsorship of Miss Nigeria beauty pageant.

Q: Good evening, madam, can you tell us a bit about yourself?

Ugochi: Good evening, my name is Ugochi Nwachukwu; I am the MD of Recherché Signature Events and Luxury Gifts, an event and gift company under the Royal Style Group of companies. 

Q: What does Recherché really do?

Ugochi: We are a one stop shop high end events and gift company based in Abuja,  with an office in Lagos, but we cater to events all around the country. Our philosophy is that each event should be unique and intimate, no matter its size or location. We take pride in providing each client with the most innovative ideas and latest trends in the industry. We work tirelessly to accommodate the needs of our clients and uphold their privacy at all times. Our mission is to provide each client with an experience. As Professional planners it is our job to advise our clients, aid with formulating a realistic budget, and make all the necessary preparations in ensuring the dream becomes a reality and the event flawless. We don’t just get the job done. We create a show stopper that is completely unique and individual to the client. 

  

Q: What are the ranges of events you cater to?

Ugochi: Recherché events specialize in: Weddings, Corporate, government and Social Events. We are known for our attention to detail and organization. We are also a luxury gift company and we have one of the most amazing luxury gift collections in the country.

Q: What advantages does Recherché add to events when they do it, compared to others?

Ugochi: Our services are based on the keyword “customized”. No matter what type of event or occasion, we will always find creative and tailor-made solutions. It’s the Recherché Events experience that is our signature: from budgeting to booking artists, we’re collaborative, creative and are cool under pressure. You get surprise and delight in all the right places and calm, comforting professionalism just when you need it most.  Every event is treated as unique and custom-designed for every client. We always combine passion with efficiency, personality with originality, dreams with detail and perfection with celebration. We’ll create a party that is completely you from as small as 10 guests to 2000 or more guests. We give our events the right class, standard and eloquence, we are ready to go the extra mile to make sure that we make our clients stay happy. 

Q: Have you seen any gaps on ground that needed your attention which you have been filling?

Ugochi: Definitely, through original concepts at Recherché events we set ourselves apart. Nigerians are really cultured and are aware of events trends around the world there is now a push to par with the most cosmopolitan standards in events, entertainment and lifestyle. There is also a need to enable hardworking people to be able to celebrate their dinners, parties and birthdays even when they do not have the time to organize these by themselves. These people who work really hard see these events as a portal to let out steam and like to go all the way to make them big and memorable, now that is where we come in; creating an experience that is truly set apart from the norm.

We put everything together from the best entertainment to the best Nigerian and international cuisine, the best wines and spirits. We work alongside our sister companies and links to vendors around the world to ensure we meet the needs of all our high end clients and yes, the kind of services we offer is in demand here and we are about the only event planners in the country today with the capacity to deliver that.

Q: What did Recherché events do for the Miss Nigeria event tonight?

Ugochi:  Recherché, Palatially and Quintessentially which make up the Royal Lifestyle Group is very proud to be sponsors of the Miss Nigeria Pageant.  We are all here to support Miss Nigeria because she is a brand ambassador for Nigeria as a whole, nationally and internationally. 

Q: Do you have any events coming up?

Ugochi: Yes! We are launching the first ever Netcocktail event in Abuja. It is an exclusive business and social networking event 
 it would be an elegant monthly business and social networking event that would be hosted by recherché. it would bring together like minded professionals and lifestyle connoisseurs. An evening to network with peers, It is a mix and mingle event designed to bring upscale urban professionals and good quality people together from diverse backgrounds. The innovation behind this event is to create an environment where people can mingle and enjoy a vast array of spectacular star performances in music, performing arts, poetry, comedy and lots more. It is billed to take place on the 7th of September 2013. 

For further information on this event call 0813 990 5180.
Thank you.

Media Consultant:

 Mr. Ingram Adichie Osigwe

MD/CEO 

Fullpage International Communications Limited.

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Nigerian Universities and the Bastardization of Academic Procedures

Nigerian universities certificates are graded as A’ level over in the United Kingdom by the National Recognition Information Centre (NARIC) in Cheltenham.
~  http://spurmag.com/2013/05/20/uk-agency-grades-nigerian-varsities-as-a-levels/

NIGERIAN UNIVERSITIES AND THE BASTARDIZATION OF ACADEMIC PROCEDURES


~ By Obinna Akukwe

Academic processes and procedures have been bastardized by many universities in Nigeria. I mentioned in the preceding piece ‘Nigerian Universities and the Bastardization of Admission Processes’ that the decay in the admission processes  started from the early nineties. The same period witnessed so much strike that academic activities were flippantly suspended. I spent five years in the university for a four- year programme and  witnessed three Academic Staff Union of Universities(ASUU )strikes in my 2nd, 3rd and 4th year led by Dr Attahiru Jega and Dr Assisi Asobie  plus ‘Babangida Must Go' riot which led to closure of universities.  Cumulatively extra thirteen months were added to the academic calendar. Thus the first bastardization of academic processes and procedures is the frequent disagreement between government and lecturers leading to industrial disputes . Whenever the disputes are suspended, students get rushed through examinations without adequate notice resulting in mass failures and carry over.

Due to frequent strikes, some idle students gets involved in vices ranging from rape to murder, cultism, drunkenness, drugs,robbery, fraud and when academic activities finally resumes, these behaviorally downgraded students pollutes the already tensed academic environment with their new found vice, fostering cultism  and criminal activities on campuses.

While the vice ridden campuses constitutes academic nuisance, the activities of lecturers who constantly harass female students with sexual advances is another form of academic bastardization. These female students especially the cute, sexy and kinky among them are deliberately failed in examinations so that they will surrender their under wears to the lustful teachers. Those that refused to submit their bodies are deliberately kept on campuses while their colleagues graduate till they recant their stiff neckedness. In July 2013 female students of Creative Arts Department of University of Lagos were so abused by the sexually rampaging lecturers that they had to go on public protest to preserve their cherished womanhood. They urged the Vice Chancellor, Prof. Raheem Bello, to investigate the allegation and bring the culprits to book. During my time as a student union leader, I took up such issues with the university authority severally though those who indulge in it then do so more discreetly-now it is openly solicited.

In addition to sexual harassment, there is the problem of truant lecturers who abandon their academic tutorship to gallivant around for other businesses. This truancy is noticeable in schools in Abuja, Lagos, Port Harcourt and other first generation universities domiciled in cities where various political, business and social activities abound. These gallivanting lecturers appear in the lecture hall sometimes once or twice per semester, issue handouts and disappear again. The students end up hearing and knowing nothing especiallly in technical related courses, engineering, accounting and sciences .I have had course to jokingly ask some senior lecturers and professor friends of mine whether they actually see their students, especially from the manner they absent themselves during academic seasons.

Coupled with the truancy of lecturers is the issue of falsification of results in the examinations records registry. Some students have learned the act of influencing workers at the exams registry so that results could be falsified to upgrade their low academic status. In March 2013, Abia State University had to withdraw an academic degree they issued a former governor of the state because according to them, it was irregularly awarded.  Sometime around 2009 authorities of a university in Benin discovered that their computerized registry has been compromised. Some fraudsters actually inserted names of non existent students into the system and were awarding results to them at every turn. When this computer manipulation was discovered, the school sought the assistance of a US owned IT firm in Abuja and that was when I knew about the issue. The school was advised to install Oracle database and run it on Linux platform.

There is the Education Tax Fund (ETF) which requires that every corporate firm pays 2% of their profit towards the education fund. In 2011 a new  act established the Tertiary Education Trust Fund (TETFund)  requiring corporate firms to dedicate 2% of their realizable profit to tertiary education. In 2012 alone, FIRS remitted N183 billion naira to ETF . Where is the impact of 183 billion naira collected in 2012 by ETF on the nation's tertiary education system. ETF could transform university education by applying these funds towards provision of hostel accommodation, lecture halls, research support, library etc. There is also the annual education budget from the presidency to augment, all these are enough to improve the quality of educational services in Nigeria . This Education Trust Fund has over the years been a chess pool of corruption and the funds used to settle politicians and party loyalists with fictitious spending.

All this turns the student’s academic life cycle into a bundle of turbulence and the processes serially bastardized. One of the attractions of some private universities in Nigeria is the stability of academic  procedures. Thus parents could predict when their wards would graduate from school. There is also low incidence of sexual harassment, truant lecturers and incompetent ones who have refused to upgrade their knowledge base are weeded out. However, the gain of some of these universities is countered by the exorbitant cost of enrollment. Highly rated Covenant University, Otta, owned by Winners Chapel charges about N520, 000 per session as at 2013 and many cannot afford such per head-though the church  offers scholarship to some of their members to study there. Therefore, the poor will have no option than to contend with the decayed system.

The Nigerian student suffers a plethora of adversities which makes them unable to grasp the much intended knowledge transfer. Little wonder many of them cannot defend their certificates anywhere. I have had course to interview and discuss with groups of fresh accounting graduates desirous of jobs and was shocked that a some of them have not grasped the basics of Double Entry Book Keeping, while more cannot perform simple Bank Reconciliation Statements. Seeking explanations on management accounting issues like Break-Even Analysis, Cost-Volume-Profit Analysis  would get them stare at you as if you are  Hollywood film actor and you dare not probe further to seek computations of Discounted Cash Flows( DCF), Net Present Value(NPV), Internal Rate of Return (IRR) , Equivalent Annual Cost (EAC) all of which are elementary to capital budgeting techniques. Asking them to prepare detailed cash budgets or cash flow analysis for a given period is akin to asking too much. This sorry state made lots of companies to spend millions in retraining their personnel before they could undertake simple tasks. The students are simply being denied the environment to grow in knowledge.

The Nigerian Government should declare a state of emergency on tertiary education. They should sanitize the processes of gaining admissions and regularize the academic procedures to disenfranchise truant lecturers, checkmate academic victimization and sexual harassment. The lecturers should be provided the enabling environment to undertake serious academic experiment. Staff of the Universities should be adequately remunerated to reduce incidence of abandonment of duty. The academic community should have upper hand in who become the Vice Chancellor and the University Visitor, whether president or governor, should minimize interference.

Constant exorbitant increment in school fees by government funded universities should be discouraged.Further embezzlement of ETF funds should stops and government must ensure that this fund is applied to aid tertiary education and end the bastardized academic procedures in Nigerian universities.


Contact the author:
Obinna Akukwe
Email: Profetobinna2@yahoo.com. .

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Who Will Win the 2013 Nigeria Prize for Literature?

Prof. Femi Osofisan and Prof. Remi Raji are the foremost contenders.

Who Will Win the 2013 Nigeria Prize for Literature? 


It is really difficult for anyone to predict who will win the Nigeria Prize for Literature this year, even though only a couple of the writers who made the final shortlist are among the most accomplished poets in Nigeria. I can pick out the geniuses in poetry among them. When you have Prof. Femi Osofisan , aka Okinba Launko and Prof. Remi Raji in the same contest for the most coveted and richest literary prize in Africa, then it is not an easy task for the judges. The other 9 authors on the shortlist must also be good to have made the final list of 11 from the 201 entries, but only few of them have proved to be seasoned poets over the years. Personally, I don’t believe in prose writers becoming poets overnight so that they can compete for the poetry category of the Nigeria Prize for Literature which rotates annually among the four major genres of Prose Fiction, Poetry, Drama and Children's literature, especially when the cash prize is a whopping US$100, 000! That is enough to make anyone transform into Wole Soyinka overnight! 

On August 12th 2013, the Advisory Board for The Nigeria Prize for Literature approved the following shortlist of 11 out of the 201 books submitted for the 2013 edition of the prize. 

• Letter Home and Biafran Nights by Akeh Afam
• Symphony of Becoming by Eke Iquo
• Birthcry by Nwakanma Obi
• Wild Letters by Ogochukwu Promise
• Globetrotter and Hitler’s Children by Ede Amatoritsero
• Marsh Boy and Other Poems by Egbewo G’ebinyo
• Length of Eyes by Gomba Obari
• The Sahara Testaments by Ipadeola Tade
• Seven Stations up the Stairwell by Launko Kinba (pen name for Femi Osofisan)
• Through the Window of a Sandcastle by Nnadi Amu
• Sea of My Mind by Raji Remi

The list was arrived at after three months of intensive scrutiny by the panel of judges for this year’s prize, led by Professor Romanus Egudu, a renowned poet, literary critic and former President, Association of Nigerian Authors. He is of the Department of English at Godfrey Okoye University, Enugu. Other members of the panel are Prof. Omolara Ogundipe of Department of English, University of Port-Harcourt, Rivers State and Dr. Andrew Abah of Department of English, Benue State University, Makurdi, Benue State.

The Advisory Board led by its chairman Professor Emeritus Ayo Banjo announced that the final shortlist will be released soon. Other members of the Advisory Board are Professor Ben Elugbe, former President, Nigerian Academy of Letters and Dr. Jerry Agada, former President of the Association of Nigerian Authors and one time Minister of State for Education

The Nigeria Prize for Literature has since 2004 rewarded eminent writers such as Gabriel Okara (co-winner, 2004, poetry), Professor Ezenwa Ohaeto (co-winner, 2004, poetry); Ahmed Yerima (2005, drama) for his classic, Hard Ground; Mabel Segun (co-winner, 2007, children’s literature) for her collection of short plays Reader’s Theatre; Professor Akachi Adimora-Ezeigbo (co-winner, 2007, children’s literature) with her book, My Cousin Sammy; Kaine Agary (2008, prose); Esiaba Irobi (2010, drama) who clinched the prize posthumously with his book Cemetery Road; Adeleke Adeyemi (2011, children’s literature) with his book The Missing Clock; and Chika Unigwe (2012 – prose), with her novel, On Black Sister’s Street.
The Nigeria Prize for Literature rotates yearly amongst four literary genres: prose fiction, poetry, drama and children’s literature. The 2013 prize is for poetry and comes with a cash prize of $100, 000. Next year is drama.

Nigeria LNG Limited remains committed to responsible corporate citizenship and The Nigeria Prize for Literature is one of its numerous contributions towards building a better Nigeria


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Not Boko Haram, But Beyoncé and Arianna Are the Cause of Nduka Obaigbena's Financial Woes

Mr. Nduka Obaigbena and Mrs. Beyoncé Giselle Knowles-Carter. 


Mr. Nduka Obaigbena (pronounced Oh-bayg-BEH-na), the publisher of Thisday Newspaper and ARISE magazine blamed the dreaded Boko Haram for failing to pay the salaries of his workers. But he was lying, because he wastes millions of naira on patronizing American celebrities like Arianna Huffington, the famous President and Editor-in-Chief of the Huffington Post Media Group and Beyoncé Giselle Knowles-Carter, the sexy wife of Jay-Z, the famous millionaire American hip hop rapper.

Mr. Nduka Obaigbena and Arianna Huffington.

 Since 2006, Mr. Obaigbena has hosted the likes of Beyoncé, Jay-Z, Diddy, Shakira, Mary J. Blige, Usher and Rihanna to perform live at his music concerts and his ARISE fashion shows have attracted supermodels like the famous Naomi Campbell. All these red carpet events cost millions of dollars and often leave him broke. Then later, Mr. Obaigbena will whine that Boko Haram is the reason why he cannot pay salaries? What a joker! .


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Girl Rising Interview: Zuriel Oduwole Makes History!

 

 Zuriel Oduwole has made history as the youngest person EVER to be interviewed by Forbes Magazine! The 10-year-old Nigerian-born girl has made a name for herself by interviewing world leaders, powerful men and women in business, and directing her very own documentary.

“I’m hoping the parents can say 'oh, look, there’s an African girl and she’s 10 and look what she’s doing! We should think about educating our girls, too.'" Check out her interview with 10x10 - Girl Rising --> http://bit.ly/16Olvpe

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Academy Award Winner Jennifer Hudson to Appear at International Faith and Family Film Festival

    
15 Aug 2013 18:07 Africa/Lagos

Academy Award Winner Jennifer Hudson to Appear at International Faith and Family Film Festival
Other Notable Films Round Out Plethora of Inspiring, Thought-provoking Screenings


DALLAS, Aug. 15, 2013 /PRNewswire/ -- Jennifer Hudson, Academy award winner and star of Bishop T.D. Jakes' new film, "Winnie Mandela," is slated to appear at the International Faith and Family Film Festival in Dallas, Aug. 29-31, 2013, as part of Bishop Jakes' MegaFest. The inaugural run of the film festival will feature a wide variety of films tackling tough issues such as identity, family and poverty.


"What is exciting about the International Faith and Family Film Festival is not only the number of films we have that tackle and address difficult issues, but the quality of the films is outstanding," said Bishop Jakes. "I'm thrilled to have these films as part of our discussions."


Details on some of the films scheduled to be screened follow below:

"The Other Son" is a moving and challenging tale of two young men who discover they were accidentally switched at birth. Complex repercussions play out within two families as a son raised by a Jewish family discovers he is Arab by birth and a Palestinian family's adored youngest boy discovers he is Jewish.

"Child 31" is an uplifting film that dramatizes a powerful means of feeding the hungry in developing countries. The documentary captures Mary's Meals' life-changing work in action throughout Malawi, Kenya and India, and its mission to help millions of children around the world realize their dreams.

"Playin' for Love" is a romantic comedy that follows a high school basketball team's head coach and a single mother who helps turn the team's fortunes around. The City of Miami and the Miami Heat were partners in filming the movie in Miami, using local talent.

"Grace Unplugged" is a musical drama about a beautiful young singer who gets the break of a lifetime and has her faith radically tested in the real world. The coming-of-age experience forces the singer to evaluate her values and whether she is willing to remain true to herself.

The "Diversity in Cannes" short film showcase will give life to globally diverse characters and stories to which we all can relate from the United States, Canada, Italy and Spain. Originally screened at the Festival de Cannes as part of the Beyond Borders Diversity movement, these six films are a direct reflection of the mission to ensure the preservation of the underrepresented story at the Cannes Film Festival and beyond.


In addition to the thought-provoking and heart-pulling stories on film, the International Faith and Family International Film Festival will feature keynote speakers and panelists who represent expertise in all aspects of film making, producing and marketing. This includes:

    Actress Jennifer Hudson, star of the new film, "Winnie Mandela"
    Soledad O'Brien, host of CNN's "Black in America"
    Mary Claire Kendall, columnist covering Hollywood for "Forbes"
    Kirstin Wilder, vice president and managing editor of "Variety"
    Acclaimed director Randall Wallace ("Secretariat," "We Were Soldiers")
    Larry Ross of A. Larry Ross Communications, 30-year spokesman for evangelist Billy Graham
    Tirrell Whittley, visionary CEO of Liquid Soul Media
    Charles King, agent at William Morris Endeavor who brought artists like Tyler Perry and Terrence Howard to prominence


Tickets for the three-day film festival are $99 and include admittance to other MegaFest events, including empowerment sessions for men and women. Discount family and group packages are also available. Registration is available online. For a complete list of scheduled events for the film festival visit mega-fest.com/filmfestival.


About International Faith and Family Film Festival
The first International Faith and Family Film Festival will gather high-level entertainment executives, notable Hollywood directors, writers and talent, and feature exclusive movie screenings. Editors and reporters will moderate industry panels covering topics on marketing faith-based movies, launching faith-based projects and the future of the digital world. The film festival will also provide attendees with information and networking opportunities. Kevin Frasier of "OMG! Insider" will host keynote speakers to hear from their expertise. There will also be master classes for actors and screenwriters led by award-winning actor Anthony Mackie and award-winning author and script consultant Dr. Stan Williams. Featured screenings include the new films, "Winnie Mandela" and "Black Nativity." For more information about the film festival visit mega-fest.com/filmfestival.


About MegaFest
MegaFest has welcomed more than 700,000 attendees since its inception in 2004. Past speakers and performers have included Aretha Franklin, Steve Harvey and Dave Ramsey. This is the first time MegaFest will be hosted in Dallas. For more information and to register for MegaFest please visit mega-fest.com.




About Bishop T.D. Jakes
Bishop T. D. Jakes is the charismatic founder and senior pastor of The Potter's House, a global humanitarian organization and 30,000-member church located in Dallas. Named "America's Best Preacher" by "TIME Magazine," Jakes' voice reverberates globally through extensive charitable works and an empire that spans film, television, radio, best-selling books and conference series. Bishop Jakes made his presence felt in Hollywood with the release of  "Jumping the Broom," an award-winning romantic comedy that debuted as the #1 comedy and grossed nearly seven times its budget in 2011 and "Woman Thou Art Loosed: On the 7th Day," released in 2012. Celebrating more than 30 years of marriage, Thomas Dexter and wife Serita Jakes are parents to five children and three grandchildren.



SOURCE International Faith and Family Film Festival

CONTACT: Allison Yeaman, (214) 224-8421, Allison.Yeaman@bm.com, or Tonya Polydoroff, (972) 957-3152, TPolydoroff@alliedim.com, or Tosha Whitten Griggs, (213) 351-0042, Tosha@thefrontpagefirm.com

Web Site: http://www.mega-fest.com/filmfestival


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No More Commonwealth Book Prize

There will no longer be any Commonwealth Book Prize according the decision of the Commonwealth Writers Prize body.

Commonwealth Prizes Update


2014 Commonwealth Short Story Prize

15 Aug 2013

Commonwealth Writers has re-focused its prizes to concentrate only on the Short Story. It will no longer offer the Commonwealth Book Prize.

The Commonwealth Short Story Prize is part of Commonwealth Writers, the cultural initiative from the Commonwealth Foundation. Commonwealth Writers develops the craft of individual writers and builds communities of emerging voices which can influence the decision-making processes affecting their lives. The Prize aims to identify talented writers who will go on to inspire their local communities.

The 2014 Commonwealth Short Story Prize will be chaired by Ellah Allfrey, Deputy Chair of the Council of the Caine Prize and previously Deputy Editor of Granta and Senior Editor at Jonathan Cape, Random House.

The Short Story Prize enables writers to enter from countries where there is little or no publishing industry. Authors writing in languages other than English are also able to enter stories translated into English. The Prize unearths and promotes the best new writing from across the Commonwealth, developing literary connections worldwide.

The Short Story Prize is awarded for the best piece of unpublished short fiction (2000-5000 words). Regional winners of the 2014 Commonwealth Short Story Prize will receive £2,500 and the Overall Winner will receive £5,000. Translators will receive additional prize money.

The 2014 Short Story Prize will open for entry on 1 October 2013 and close on 30 November 2013. Entry is via the online application form at www.commonwealthwriters.org. The judges, who reflect the five regions of the Commonwealth, will be announced on 1 October.

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The Presidency, Federal Republic of Nigeria and Mara Foundation Enter Partnership to Empower Young Entrepreneurs

12 Aug 2013 22:11 Africa/Lagos

The Presidency, Federal Republic of Nigeria and Mara Foundation Enter Partnership to Empower Young Entrepreneurs

ABUJA, Nigeria, Aug. 13, 2013 /PRNewswire/ -- Today, the President of the Federal Republic of Nigeria, H.E. Dr. Goodluck Ebele Jonathan, and Ashish J. Thakkar, founder of Mara Group and Mara Foundation, jointly announced their partnership to launch Mara Mentor for supporting young entrepreneurs across Nigeria. The President was represented by his Special Adviser on Youth Empowerment, Ambassador Obinna Adim. As part of Nigeria's Integrated Youth Economic Empowerment Program (IYEEP), Mara-IYEEP Nigeria is the first of its kind and will be a formidable base to empower youth throughout the country and ultimately provide a solution for youth leadership and development. (Logo: http://photos.prnewswire.com/prnh/20130403/607118-a) Mara Mentor is an online and mobile platform targeting young people who want to start a business. The program is completely free of charge and available to all entrepreneurs regardless of their position within the business life cycle, from those only starting out with one brilliant idea to more established business owners. The platform allows these entrepreneurs to connect virtually with seasoned business leaders locally and mentors from across the world for advice and guidance. The mentorship program will serve as a provider of non-formal education aimed at bridging the gap between school and life after school, enhancing young people's potential for success by making them approach life as entrepreneurs. Aside from mentoring the youth on the path to entrepreneurial empowerment, the program further aims to provide comprehensive support services for the youth through funding assistance for novel business ideas, incubation centers and workspace, as well as continual business training. Furthermore, the program exudes special consideration and focus on the empowerment of female youth in our society. These support services are expected to transform entrepreneurs' business ideas into profitable and thriving business entities that will employ other Nigerians and contribute to local, state and national economies. "We are very excited about the project to bring Mara Mentor to Nigeria. Mara-IYEEP Nigeria will encourage young entrepreneurs to embrace innovative ideas, envision the impossible, and ultimately transform Nigeria. We believe mentorship is the key in addressing the gaps currently preventing these entrepreneurs from successfully starting, scaling and sustaining businesses," says Ashish J. Thakkar, founder of Mara Group and Mara Foundation. "The Integrated Youth Economic Empowerment Program (IYEEP) is the Youth Transformation Initiative of President Goodluck Ebele Jonathan. The Mara mentorship platform will be an important part of the overall IYEEP initiative to economically empower the Nigerian youth through the Mentorship Program and Launch Pads, which provide incubation centers for SMEs and Solopreneurs who otherwise would not be able to afford professional office space. The Platform also matches young entrepreneurs with seasoned business owners and cooperate leaders one on one. Our vision is to provide the needed platform and mechanism to transform our youth into (IYEEP) CHANGE MAKERS who can make their communities a better place, not only for themselves but also for their fellow Nigerians by spurring wealth creation and raising household incomes across the country," according to the Special Adviser to the President on Youth Empowerment, Ambassador Obinna Adim. The mentorship platform is currently accessible online, but will shortly be launched as a mobile application for smartphones with the objective to create a truly active and connected entrepreneurial community for youth across Nigeria. About IYEEP IYEEP is a unique grassroots and community aligned youth development process approach, which focuses on three critical elements that promote personal leadership: Healthy behaviors, socioeconomic empowerment skills as well as self and individual communities' sustainability. About Mara Foundation Mara Foundation is Mara Group's social enterprise that focuses on emerging African entrepreneurs and working to create sustainable economic and business development opportunities for young business owners via the Mara Mentoring Program, Mara Launchpad incubation centers and Mara Launch Fund. For more information, please visit: http://www.mara-foundation.org   SOURCE Mara Foundation Releases displayed in Africa/Lagos time
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