Access Bank Plc has affirmed its commitment to international best practice and globally acceptable standards by adopting the Equator Principles for its Project Finance.
By this, the bank becomes the first Nigerian bank to implement the Equator Principles.
The Equator Principles (EP) is a voluntary set of environmental and social benchmarks for managing environmental and social issues in development finance globally.
The Principles were initially developed by four private sector banks, Citi, ABN AMRO, Barclays and WestLB, and launched and adopted by 10 banks in June 2003.
The Principles are based on the International Finance Corporation (IFC) performance standards on social and environmental sustainability, and on the World Bank Group’s Environmental, Health and Safety general guidelines.
Presently, about 66 financial institutions with operations in over 100 countries across the globe have adopted the Equator Principles and thus making it project finance industry standard for addressing environmental and social issues in project financing globally.
Following this declaration, Access Bank Plc is now one of the Equator Principles Financial Institutions (EPFIs) that have consequently adopted these principles in order to ensure that Project Finance transactions are executed in a manner that is socially responsible and reflects sound environmental management practices.
These Principles are designed to serve as a common baseline and framework for the implementation, by each Equator Principles Financial Institution (EPFI), of its own internal social and environmental policies, procedures and standards related to its project financing activities. Member Banks will not finance projects where the borrower will not or is unable to comply with the respective social and environmental policies and procedures.
FG Mulls Renewable Energy for Improved Power Supply
Dr. Ogbonnaya Onu, minister of Science and Technology, has said that the federal government plans to diversify the country’s energy supply sources to include renewable energy towards accelerating socio-economic development.
Onu stated this when he declared open the forum on ‘Scaling-up interconnected mini-grids development in Nigeria’, organised by the United Nations Development Programme (UNDP-GEF) and the Energy Commission of Nigeria, in Abuja.
He said that renewable energy will help the nation meet its electricity needs in a functional and sustainable manner, adding that it will also improve the quality of life in the country.
“Nigeria is endowed with substantial energy resources such as coal, crude oil and natural gas; renewables such as hydro, wind, solar, geothermal, waves and tides, as well as biomass.
“The challenge before us, has always been on how to efficiently transform these resources into adequate and reliable energy for national development using our enormous capacity in science, technology, innovation and entrepreneurship”, he said.
The minister explained that since the inception of the present administration in 2015, electronic power generation capacity had increased at an annual rate of about 390 megawatts per year.
He, however, said that while this is commendable, it could not adequately meet the needs of the country’s population and sustain the desired level of economic development.
Onu further observed that Nigeria’s desire to industrialise cannot be realised without adequate power supply.
He stressed that every effort must be made to ensure that homes, offices, factories, schools, hospitals and laboratories in the country have adequate, reliable and affordable electricity supply.
“Renewable energy could meet Nigeria’s energy needs in the area of job creation and improved standard of living in rural areas,” he said.
He added that the development of solar photo-voltaic (Pv) in the country triggered by increase in demand for rural water supply, lighting, health services and micro-enterprise needs to be regulated to stimulate private sector participation.
ROAM Africa Reports Over 2,400 Candidates Applying for One Role as Jobs Stiffens
ROAM Africa (Ringier One Africa Media), the leading digital classifieds group in Sub-Saharan Africa, has released figures that highlight the current state of the jobs market in Africa, with one standard role attracting 2,417 applications.
Analysing 69,511 jobs listings from January 2019 to August 2020 across 5 African countries (Nigeria, Ghana, Kenya, Tanzania and Uganda), ROAM Africa’s data sheds more light on the challenges facing both job seekers and employers in the African jobs market.
The standard job listing that attracted 2,417 applications was for a Receptionist/Admin Assistant in Kenya while another listing for call centre agents and team leaders attracted 2,283 applicants.
Similar is observed also for other markets: In Ghana, 2,299 people applied for an Administrative Assistant role and 2,265 people in Tanzania applied for a Sales Representative role.
In Nigeria, the highest number of applications for a single role was 2,095 and it was for a Sales Representative role.
According to ROAM Africa’s data, Kenya contributed the highest amount of new job listings in 2019 with 33%. Nigeria was in second place with 31% and Uganda was in third place with 17%. However, so far in 2020, Nigeria is leading the way with 40% of new job listings, with Kenya in second place with 28% and Uganda in third place with 13%.
A closer look at ROAM Africa’s data reveals that, apart from Nigeria, there was a drop in overall job listings across all job levels during the last months.
However, there was an increase in graduate trainee and ‘no experience’ roles in Nigeria, Tanzania and Ghana from May to July 2020, which offers some hope for new entrants into the jobs market.
Interestingly, recruitment agencies contributed the most roles, with 16% of overall jobs, closely followed by IT and Telecoms with 15% and Advertising media and communications with 12%.
Some candidates have also reported applying for more than 20 jobs a day for multiple months and only getting to the interview stage on a handful of occasions. This is why ROAM Africa’s jobs platforms Jobberman (Ghana and Nigeria) and BrighterMonday (Kenya, Uganda and Tanzania) are focused on matching technology.
The company’s technology helps employers to identify and score the right candidates faster. Suitable candidates are made visible to prospective employers, and helped across the finish line by providing data driven career development tools and training programmes.
Job seekers using the platforms can expect to improve their CV, gain interview tips and sign-up for online training courses designed to bridge the gap between education and employment.
Commenting on the data, Clemens Weitz, CEO of ROAM Africa said, “The high ratio of applications per job listing really highlights how challenging the jobs market is for employers and job seekers. Both employers and job seekers are struggling to connect with the right opportunities and more needs to be done to address this.
“Employers must rethink their hiring strategies and clearly define what they are looking for, based on data and insights. Job seekers must also invest in personal development that will make it easier for them to stand out in such a crowded and competitive market.”
Weitz also added that, “We believe that Africa’s greatest asset is its people and their entrepreneurial spirit. With the expected growth in the continent’s population, we must begin to put structures in place that will make it easier for African businesses to make the most of this resource.”
According to Hilda Kragha, Managing Director of ROAM Africa’s Jobs platforms, “With the current state of the jobs market, Africans cannot afford to continue with the antiquated recruitment processes that are commonplace in many organisations.
We must prioritise a digital approach to recruitment, which brings transparency to Africa’s labour market while connecting people to work opportunities that will improve their livelihood.
We must also embrace objectivity in the recruitment process by incorporating innovation that makes it easier to fairly and consistently sort for the best candidates. This will ensure that only qualified candidates are applying for roles and employers get an accurate picture of jobseekers’ capabilities. A win-win for both job seekers and employers.”
“Our data highlights both the challenge and opportunity that come with the African jobs market. We must address the challenge of rampant unemployment but also embrace the opportunity to transform how recruitment is done. By doing this, we will not only be addressing the current problems but also future-proofing our businesses and organizations for generations to come.”
FG Offers to Support TStv to Relaunch with Pay per View Model
National Broadcasting Commission (NBC) has pledged to give necessary support to TStv Africa as the indigenous digital satellite TV service begins full operation with pay per view model on October 1, 2020.
Professor Armstrong Idachaba, acting director-general of NBC, made the promise on Monday in Abuja when the management team of TStv paid him an official visit.
The visit was to inform him of the company‘s readiness to commence full operation across the country on October 1.
TStv Africa is a wholly-owned Nigerian innovative multi-channel outfit which had promised to operate a pay per view model for the benefit of Nigerians.
Idachaba said: “We promise on our side that we will continue to support you.
“At this time, I think that the major issue confronting the PayTv sector is the area of giving Nigerians option of deregulating purchasing capacity in terms of pay as you go concept.
“We believe this will give you the visibility if you remain committed to the idea.
“We welcome that option and wish that it serves as a stimulant and as a progressive index for other pay-TV operators to adopt.
“Some of them have come up with a lot of excuses why pay per view is difficult and why it is not doable.
“We want you to be the galvaniser to prove the naysayers wrong that this is doable in the interest of Nigerians.
“Once you begin and you make a success of it through increased subscription base, we are sure that others will be drawn into it as it happened in the telecommunication sector.”
Idachaba said the NBC is committed to promoting local participation in the nation’s broadcasting industry, especially in the pay-TV sector, to create jobs and provide diversity for Nigerians.
He acknowledged the challenges TStv had faced over the years and encouraged the company to remain focused.
“We are aware that it has been very challenging for you.
“All over the world dominant players will always want to remain in a dominant position.
” Those who want to survive will also have to take the courage to do so,” he said.
The Acting Director-General, however, admonished the firm to refrain from any activity that would give Nigeria a bad name.
“If you are acquiring rights, you must make sure that your rights are legitimately acquired.
“You must make sure you follow the rules of engagement strictly, study the broadcasting code strictly to have a robust future ahead of you,” he said.
Earlier, Dr Echefu Bright, managing director and CEO of TStv, said they were at the NBC to seek the commission’s support to have a peaceful roll out on October 1.
He said the outfit also visited the NBC to officially present samples of its decoders to the commission and thank the management for its support.
Bright gave an assurance that the novel pay per view concept was sacrosanct.
“The model is what we have experimented and implemented and it works and we have done everything we need to do for it Nigerians to benefit.
“Beyond that, we have enough boxes on ground that will cover the entire country,” he said.
Bright also gave an assurance that with the Oct.1 roll out, every part of the country would be covered.
“We currently have a dealership in virtually every state in Nigeria and as I speak to you now our goods are already with them for October 1 rollout. The coverage from day one will be across Nigeria,”
On sports products, he said the firm has Laliga as well as the FA Cup and Euro Cup 2021 rights.
Ndukwe Reveals Secret of MTN’s Dominance Of Nigeria’s Telecoms Space
TStv Lures Subscribers with N5 Daily Subscription
Oreoluwa Adesakin, First Bank Staff Jailed for Stealing N49m
MTN Launches ‘Visitor SIM’, Designed for Guests Coming into the Country
Danbatta Inaugurates Evaluation Committee for 2020 Research Proposals
EFCC Arraigns Hackers for Allegedly Stealing N900m from FCMB
Access Bank Reassures Customers after Hacker Steals Customers Data
Former Shell MD Bags Award for Rejecting $6m Bribe
NSE Suspends 6 Companies from Exchange
Active GSM Subscribers Hit 199.3m – Danbatta
- News3 days ago
NCC Board Chairman Alleges Threat to His life by Agents of DG
- News3 days ago
Tony Elumelu Hardly Backs Down from any Challenge
- E-Business3 days ago
Tech Experience Centre will Boost Nigeria’s Socio-Economic Profile, Says Cisco Boss
- E-Business3 days ago
FG Mulls Zero Charge Policy for Educational Websites
- Telecom3 days ago
NCC @ ICTEL EXPO, Pledges Robust ICT Infrastructure for Economic Growth
- E-Business3 days ago
Encomiums for TD Africa as Nigeria Prepares for Tech Experience Centre Launch
- News2 days ago
ALTON, Medallion, CloudFlex Back NITRA’s Innovation Forum
- News3 days ago
Labour Vows to Shut Down Airports, Banks, Others from Today