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South Africa Frets as NANS Ask S/A Owned Firms to Leave Nigeria

South Africa has expressed concern over the call by the National Association of Nigerian Students (NANS) for the expulsion of South Africans and protest at South African owned businesses in Nigeria.
The country made its feelings known in a statement issued by Ms Anna-Maria Jojozi, Counsellor in-charge of Political Affairs at the South African High Commission in Abuja.
Jojozi quoted Dr Naledi Pandor, Minister, International Relations and Cooperation, to have expressed the feeling at the South African Development Community meeting held in South Africa on Sunday.
She said that the meeting sought to discuss President Cyril Ramaphosa of South Africa official visit to President John Magufuli of Tanzania, for the SADC Summit, from Wednesday to Thursday.
Jojozi said: “I wish to express my department’s concern regarding statements said to emanate from student organisation in Nigeria, calling for expulsion of South Africans and protests at South African owned businesses.
“The protests are said to be in response to alleged killings of Nigerians by South Africans; as you are aware these allegations are devoid of truth, reckless and unwarranted.
“We find these statements most unfortunate as they do not reflect the strong relations that exist between the people and the Government of South Africa and Nigeria.
“The two countries enjoy strong bilateral relations, which were forged over many years during our struggle for liberation in South Africa; also, in this democratic era supported by the people and Government of Nigeria.”
Jojozi said South Africa’s Acting High Commissioner to Nigeria, Mr Bobby Moroe, had held several meetings with the police and other senior government officials in Nigeria.
She said South Africa had established contact from the highest level of the Nigerian Government and received assurances that authorities in Nigeria were taking the calls for protests seriously.
“They have also assured us that South African citizens and their property in Nigeria will be protected.
“South Africa values the strong ties it has established with Nigeria and will continue to enhance these even further,” Jojozi noted.
The counsellor said the statements referred to the unfortunate death of Elizabeth Ndubuisi-Chukwu, Deputy Director-General of the Chartered Insurance Institute of Nigeria, in June.
She said that, the South African Police Service was still investigating the incident.
“We believe no one should abuse this unfortunate tragedy to generate negative sentiments about South Africa and we express our condolences to Mrs Ndubuisi-Chukwu’s family; friends and the people of Nigeria.”
She said the Minister of Police in South Africa, Bheki Cele, had addressed the Diplomatic Corps early in the year and said there was no targeting of any group of Africans in South Africa.
Jojozi said that the law enforcement agencies were making effort to fight crime and arrest all criminals.
She said; “It is worth mentioning that daily, Nigerian nationals travel to South Africa for multiplicity of reasons ranging from business, tourism and academic purposes.
“Similarly, South Africans have chosen Nigeria as preferred destination for investment and other activities of interest.
“Nigeria is home to approximately 120 South African companies, amongst which are MTN, Shoprite, Multichoice, South Africa Airways and Game – to mention but a few.
“All these companies have over the years contributed towards job creation and social responsibility programmes for Nigerian nationals, both young and old.
“We are very pleased that our strong relations were able to place South African business on firm footing in Nigeria, and pave way for investments by Nigerian business in South Africa.”
Jojozi expressed the hope that the High Commission in Nigeria would invite some stakeholders of the student organisations leading the calls for protests against South African businesses in Nigeria to South Africa.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
News
Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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