Uncategorized
IATA Says Partnerships Key to Securing Aviation’s Benefits
The International Air Transport Association (IATA) welcomed partnerships among all stakeholders, including governments, to help aviation fulfil its important role as a catalyst for global economic growth and development.
“Airlines will transport 3.8 billion passengers and 53 million tonnes of air cargo this year. In doing so, they will support some $2.4 trillion in economic activity and some 58 million jobs. In Asia-Pacific, the corresponding numbers are over $700 billion in GDP and 33 million jobs. By 2034, global demand will reach 7 billion passengers, but that demand can only be accommodated through a working together approach by all aviation stakeholders including governments,” said Tony Tyler, IATA’s Director General and CEO.
Tyler made his remarks at the Singapore Airshow Aviation Leadership Summit hosted by the Singapore Government, Experia Events and IATA. He cited the collaborative event as an example of the working together approach. “It’s great that we are looking at the challenges of future growth together with all stakeholders.”
Tyler identified three examples where partnerships are vital to meeting forecast demand for connectivity to include, Safety, Sustainability and Infrastructure Development.
Safety: “Safety is our highest priority and we are seeing steady progress through our partnership approach involving airlines, airports, air navigation services providers, manufacturers, governments and other stakeholders. If we look at jet aircraft, in 2015 we had one major accident for every 3.1 million flights.
“That’s a significant improvement on the five-year average (2010-2014) of one accident for every 2.2 million flights. Yet the last two years have also seen events that can only be classified as ‘unthinkable’, including the disappearance of an aircraft, the downing of an aircraft by a missile, and the deliberate destruction of an aircraft by a suicidal pilot. We must add to that the loss of an aircraft in what is suspected of being an act of terrorism.
“There are no simple solutions to the issues raised by these terrible tragedies. But we must honor those who lost their lives, and their friends and loved ones, by re-dedicating ourselves to making flying even safer. Working with our partners in government and industry will drive improvements based on global standards and best practices.”
Sustainability: “Environmental sustainability is our license to grow,” said Tyler. The aviation industry has adopted a four-pillar strategy based on technology, operations, infrastructure, and market-based measures to address its CO2 emissions, and has adopted ambitious carbon reduction targets: A 1.5% annual average improvement in fuel efficiency to 2020; Capping net carbon emissions with carbon-neutral growth from 2020 and Cutting net carbon emissions in half by 2050 as compared to 2005 levels.
“We are seeing success through our partnership approach. Fuel efficiency is improving around 2% a year. Sustainable fuels for aviation have matured with the knowledge that they are safe and effective. And earlier this month a CO2 standard was agreed that will institutionalize the continuous technical improvements that come with every new generation of aircraft and engines. Now we need governments to step up at the International Civil Aviation Organization (ICAO) Assembly this autumn to agree a mandatory global carbon offset scheme to be in place in time for 2020. Our membership is doing all it can to provide support to this bold initiative.”
Infrastructure Development: “We will add 3.2 billion new air travelers in less than two decades. Of these, 1.8 billion—56%-will be in Asia-Pacific—the vast majority on routes linked to China.
“If we can realize that growth potential, then jobs and economic activity will follow. By 2034 aviation in the region could be supporting over 70 million jobs and some $1.3 trillion in economic activity. But that’s dependent on the industry having sufficient infrastructure,” Tyler said.
Tyler said that many governments in the Asia-Pacific region value highly the economic contribution of connectivity enabled by aviation and work to sustain it.
However, Tyler cautioned that “it will be a challenge to keep up infrastructure development in line with growing demand—and to ensure that that skies can still operate efficiently as the industry grows. The Gulf hubs already face a similar challenge where much more coordination in airspace management is needed. Europe probably faces the greatest risk. Air traffic management is an expensive and disjointed mess as a result of governments’ protection of narrow domestic interests at the expense of Continental success. Moreover, a Eurocontrol study estimates that European airports could also face a capacity crunch—with a 12% shortfall against demand by 2035.”
Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean their books of questionable accounts and comply with regulatory orders on the linkage of bank accounts to the National Identity Number (NIN).
This is contained in a report by the Nigerian Interbank Settlement System (NIBSS), which also indicated that the number of inactive bank accounts grew month-on-month, MoM, by four million or 2.0 per cent to 19.7 million in March 2024 from 19.3 million in the previous month, February.
A bank account is classified inactive when it records zero transactions including deposits, withdrawals, transfers or point-of-sale transactions for six months.
However, details of the “Industry Bank Account Database”, a monthly data reported by banks, and compiled by the Nigerian Interbank Settlement System, NIBSS, also indicated that the number of active bank accounts grew by 6.62 million or 3.0 per cent to 219.64 million from 213.02 million in February.
Recall that in December 2023, the CBN issued a directive to all commercial banks in the country to restrict tier-1 accounts without proper Biometric Verification Number (BVN), and National Identity Number, NIN, that are not linked by Thursday, March 1st, 2024.
According to NIBSS data on BVN enrollment count, 61.6 million Nigerians have BVN as of April 2024.
Credit: Vanguard
Uncategorized
Dubai-Based Citizenship Firm Imperial Citizenship Expands to Lagos, Targets Africa’s Growing Wealth
Imperial Citizenship, a Dubai-based firm specialising in Citizenship and Residency by Investment (CRBI) solutions, has set its sights on Africa’s burgeoning wealth with the launch of a new office in Lagos, Nigeria.
This strategic move positions Imperial Citizenship to capitalise on the continent’s growing population of high net worth individuals (HNWIs) seeking international investment and mobility options.
Imperial Citizenship boasts a proven track record of success, having secured over 2,000 approvals for clients seeking alternative citizenship and residency pathways. Their partnerships with over 15 governments worldwide provide a diverse portfolio of investment opportunities that adhere to strict international regulations.
With its Lagos launch, Imperial Citizenship begins its foray into Africa. The continent boasts a burgeoning HNWI population, according to PwC, presenting a lucrative market for investment firms like Imperial Citizenship.
According to the World Bank, African economies are projected to grow by 3.4 % in 2024 as the African Development Bank Africa has reported that Africa will account for eleven of the world’s 20 fastest-growing economies in 2024. Highlighting the market’s potential, Mr. Zaid Al Hindi, Founder and CEO of Imperial Citizenship, says, “our expansion into Lagos allows us to directly cater to this affluent segment, offering them strategic solutions for global asset diversification, optimised investment opportunities, and enhanced global mobility.”
“At Imperial Citizenship, we do not operate through intermediaries, as we differentiate ourselves through direct government partnerships. This ensures transparency, legality, and efficiency throughout the application process, providing peace of mind for investment-minded clients” Zaid stated during the launch event in Lagos.
Speaking on the company’s approach to CRBI, Zaid mentioned, “At Imperial Citizenship, we prioritise a client-centric approach. We go beyond simply offering programs; we provide dedicated advisors who understand the unique needs and aspirations of each client. This personalised service ensures clients receive tailored investment options that align with their financial goals and risk tolerance”.
The launch of the Lagos office underscores Imperial Citizenship’s commitment to global expansion. With physical offices in Dubai and now Nigeria as well as operational representatives in Mexico, Algeria, and Turkey, Imperial Citizenship demonstrates its ability to cater to a geographically diverse clientele.
Looking ahead, Zaid highlighted that Imperial Citizenship plans to broaden its service offerings and expand its reach into new markets. By strategically targeting Africa’s rising wealth, Imperial Citizenship is well-positioned to solidify its role as a leading player in the CRBI industry, offering investors a gateway to global opportunities.
In a recent gathering, organized by 234Finance, key stakeholders and HNIs came together to discuss the theme “Fueling Progress in the South East.”
The conversation highlighted the rich heritage, entrepreneurial spirit, opportunities for growth and the potential of the South East to be economic powerhouse.
During the discussion, the Managing Partner of 234Finance, Ezinne Nwazulu unveiled plans for an upcoming event of significant impact: the 4-week intensive SME Bootcamp and Mentor Matchup Challenge South East edition designed to empower SMEs. The program aims to empower SMEs with the knowledge, tools, and capital for rapid expansion and global competitiveness.
This initiative is building on the success of previous Mentor Matchup Challenge events, which equipped SMEs with actionable strategies and one-on-one mentorship, resulting in winners of the pitching competition securing grant funding to scale their businesses by 4x-10x.
The SME Bootcamp will feature an array of activities, including physical and virtual training sessions, onsite industrial training, and a pitching competition.
Ezinne Nwazulu emphasized the rigorous selection process, where the top 100 applicants meeting the criteria will undergo intensive training at two training centres in Abia and Anambra. From there, the most promising 15 participants will have the opportunity to pitch their business for grant funding.
Dr Chima Anyaso, Chairman of Caades Group, expressed his commitment to the region’s development and encouraged entrepreneurs with innovative crafts to seize this opportunity.
Criteria for selection are uncompromising, emphasizing technical expertise in core sectors; Agribusiness, Manufacturing, Supply Chain & Logistics, Fashion & Textile, and Retail, with a particular focus on businesses operating within the South-East region for at least three years and significant growth potential of 4x-10x.
The Bootcamp is set to commence from May 14 to June 14 2024 with Southeast-based entrepreneurs encouraged to visit the 234finance bootcamp to apply.
NAEC to Deploy Nuclear Science for Power Generation
INTERPOL Appoints Uche, Nigerian CP as Chairman, African Heads of Cybercrime Units
History as Nigeria Acquire First Cosmic Rays Detector in Africa
Experts Report More than Two Critical Cyber Incidents per day in 2023
NIPOST Clampdown on Illegal Courier, Logistics Service Operators in Kano
See Full List of Fake Loan Apps Blacklisted By CBN
CBN Sacks another 50 Staff, 117 Disengaged in 20 Days
AfDB, AGF Partner on Female Entrepreneurs’ Access to Finance
IMF says Rising Cyber Threats Pose Serious Concerns for Financial Stability
Tinubu Appoints Nwagba as CEO of CREDICORP
News3 days agoShaping the Future of Solar Energy at Offshore Technology Conference,
News3 days agoTranscorp Group Delivers Impressive Q1 2024 Performance with Revenue Growth of 173 Percent
News3 days agoNigeria among Selected Recipients of $12m VaxSocial Initiative Funding to Boost Vaccine Confidence
Broadcasting3 days agoMultichoice Ignores Court Order, Implements Hike of DStv and GOtv Subscriptions
E-Business3 days agoKaduna, Google Launch First AI Training in Hausa Language
- E-Financial3 days ago
Extradition Papers Completed for Anjarwalla, Fugitive Binance Executive- INTERPOL Africa
E-Business2 days agoEmbracing AI to Help Reshape Business Dynamics and Customer Interaction
News2 days agoOdu’a Investment Declares N1.961Bn as Profit Before Tax