Connect with us

News

Hogan Lovells to Sponsor Africa’s Leading Infrastructure Investment Summit

Published

on

Hogan.jpg
Kindly share this post

Leading global law firm, Hogan Lovells, will be the headline legal sponsor at AFC Live, the key industry infrastructure investment summit hosted by the Africa Finance Corporation (AFC), that will take place in Abuja on the 15th and 16th May. A number of high level participants from both government and the private sector are expected to attend, including the Presidents of Nigeria, Ghana and Uganda.

With several decades spent working across the continent, covering almost 50 countries and a network of local law firms in all but two African countries, Hogan Lovells has developed an intimate knowledge of the continent’s business environments.

AFC Live has been created to provide a platform to develop solutions that will fast track African and international capital towards infrastructure. Investments in energy and in transport can offer better commercial and social returns than most investments. However, creating the right structure to make these projects commercially attractive requires skill as well as political will and a conducive regulatory environment – which Hogan Lovells has the knowledge and experience to help clients navigate.

Africa may be the world’s fastest growing continent, but access to basic infrastructure services remains a critical challenge across the continent, with studies showing that poor road, rail and port facilities add 30% to 40% to the cost of goods traded among African countries. An oft-quoted World Bank report suggest that Africa needs to spend $93bn annually until 2020 to bridge its infrastructure gap.

Andrew Skipper, Partner and Head of Hogan Lovells’ Africa Practice, and speaker at AFC Live comments: “We are thrilled to be the lead legal sponsor for this event because we believe in and want to support business on the continent. Infrastructure plays an incredibly important part in any country’s growth story and in Africa, it is vital”. On the challenge of project funding, Andrew continues: “African-focused DFIs, Export Credit Agencies or foreign grant funds cannot entirely fund the continent’s infrastructure needs. International investors and commercial lenders need to adjust their thinking on a range of issues in order to encourage an appropriate view on acceptable risk allocation and investor returns in these sometimes complex markets.”

Advertisement

By bringing financiers and investors together alongside project developers and fund managers, AFC Live aims to ensure that more capital, both African and international, can be deployed towards addressing the continent’s pressing infrastructure needs. Hogan Lovells are proud to be a longstanding partner to investors, sponsors, developers and governments on this journey.

Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

News

Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

Published

on

Kindly share this post

Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.

Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.

According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.

Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.

He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.

Advertisement

“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.

He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.

The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.

In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.

He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.

Advertisement

Kindly share this post
Continue Reading

News

NAICOM Issues New Licences to 43 Recapitalized Insurers

Published

on

Kindly share this post

The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.

At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.

According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.

Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.

He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.

Advertisement

The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.

He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.

According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.

Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.

The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.

Advertisement

 

Kindly share this post
Continue Reading

News

Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

Published

on

Kindly share this post

Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.

Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.

Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.

The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.

Advertisement

Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.

Kindly share this post
Continue Reading

Trending