News
Turkish Airlines Debunks Says It Did not Suspend Flights to Nigeria
The management of Turkish Airlines has debunked as fake news the reports that it had suspended flights to Nigeria over the coronavirus outbreak.
This was disclosed by Yunus Ozbek. general manager, Turkish Airlines,
Indeed, reports had circulated in the media earlier in the week that Turkish Airlines had announced the cancellation of all its flights to Lagos, Abuja and Port-Harcourt to avoid the further spread of the coronavirus currently ravaging the world.
However, Ozbek has dispelled the reports as not reflecting the true situation, even as he clarified that the airline had been constrained to adjust its flight schedules to several destinations around the world.
‘‘We would like to advise our passengers that some reported news mentioning Turkish Airlines’ full suspension decision on its flight operations to/from Nigeria do not reflect the reality.
‘‘Due to the coronavirus (COVID-19) outbreak in various countries, Turkish Airlines has been changing its flight schedule to various destinations around the globe in accordance with international and national authorities.
“We would like to inform our passengers that due to the lowered load factors caused by the suspension of other routes, several of our flights to/from Nigeria will be undergoing cancellations during March.’’
Furthermore, he disclosed that affected passengers can seek refunds or have their flights changed free of charge.
‘‘Passengers with tickets to the cancelled flights will be able to refund or change their tickets free of charge until the end of May, if they start the process until March/April depending on the route.’’
Meanwhile, Turkish Airlines has further underlined its commitment to the health and safety of its passengers, even as it pledged to work with the World Health Organizations (WHO) and other national authorities in following all appropriate precautions.
‘‘As the airline that always puts travel security at the forefront, Turkish Airlines will continue to monitor the latest developments on the situation with the national and international health authorities and take appropriate precautions. As the World Health Organization declared the potential risk of the virus, we have been acting in accordance with the recommendations and instructions of World Health Organization, IATA, and related national and international authorities since the first week of January 2020.’’
Furthermore, the airline has advised all passengers to complete the passenger self-reporting form distributed by the Federal Ministry of Health.
The WHO on Wednesday, March 11, 2020 formally declared the novel coronavirus a global pandemic.
EFCC
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.
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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