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Singapore to boost economic ties with Africa
… As Third edition of Africa Singapore Business Forum approach
JOHANNESBURG – Singapore has emerged the largest investor in Africa among the ASEAN countries, according to the latest United Nations’ World Investment Report 2013.
Located strategically in the heart of Southeast Asia, Singapore’s economic ties with Africa have been on the rise. As of end 2012, Singapore’s investments into Africa saw a compound annual growth rate (CAGR) of 11.2% over the previous five years, reaching US$15.9 billion. Singapore-Africa trade has also increased, reaching US$11.1 billion in 2013, achieving a strong CAGR of 11.7% since 2009.
According to International Enterprise (IE) Singapore, the Singapore government agency promoting trade and overseas investments, there are currently over 60 Singapore companies operating in over 50 countries in Africa. Projects span a wide range of sectors from agri-business, food & beverage and oil & gas, to eGovernment services, information & communications technology, and transport & logistics.
Mr G. Jayakrishnan, Group Director for Middle East and Africa, IE Singapore, Said Singapore companies are taking concrete steps to participate more actively in Africa’s growth. Given Africa’s significant development needs, we see an opportunity to collaborate and develop long-term solutions in many areas including urban development & planning, eGovernment, oil & gas, transport & logistics, manufacturing & special economic zones, technical and vocational training, power, water and affordable housing. Singapore can contribute actively as governments across Africa look to diversify growth and improve both business and social infrastructure for their countries.
Despite Singapore’s limited domestic market and lack of natural resources, the country has progressed from a third to first world country and developed into a competitive and dynamic business hub. During its post-independence years, Singapore companies have accumulated extensive experience and capabilities in many sectors including eGovernment, urban planning and development, and oil & gas.
Singapore’s eGovernment journey started in the early 80s with the goal of transforming the small city-state into a world-class user of information technology. Today, Singapore is consistently recognised by international benchmarking studies such World Economic Forum’s Global IT Report and the country’s eGovernment projects have garnered international accolades including the Stockholm Challenge Award and the UN Public Service Award. Sharing its expertise with Africa, CrimsonLogic, a Singapore eSolutions provider, developed an eJudiciary system (Electronic Judiciary) for the Supreme Court and High Courts in Oshakati and Windhoek, Namibia. The new system enabled the judiciary to effectively file court documents and manage case activities electronically, and digitally record court proceedings.
Constrained by land space, Singapore has paid careful attention to the efficient use of land through long-term urban planning since its early stages of development. This has enabled Singapore to manage challenges that many rapidly-growing cities face, such as outages of power and water, insufficient public housing, sanitation and waste treatment, and traffic congestion.
From a water-scarce nation faced with acute housing shortage, Singapore has grown into a world leader in the field of integrated water management with quality homes and living environments. Today, 100% of Singapore’s population has access to drinking water and modern sanitation facilities while over 90% Singaporeans possess their own homes – this is one of the highest rate of home ownership in the world(2). Singapore companies have exported these solutions to Africa, such as Sembcorp Silulumanzi projects in Ballito and Mbombela municipalities, which provide safe drinking water and wastewater treatment.
In the oil & gas sector, Singapore is one of the biggest refining centres in the world and home to many oil & gas equipment manufacturers and distributors. As the world leader in the construction of offshore equipment such as jack-up rigs, semi-submersibles, and floating production storage and offloading services, Singapore companies such as Keppel Offshore & Marine, Sembcorp Marine, RK Offshore, and Pacific Radiance, are presently providing these services to Africa.
For African companies looking to expand into Asia, Singapore can also be the ideal launch pad. We are the world’s easiest place to do business(3) and Asia’s most competitive country(4). Over 7,000 multinational companies have set up in Singapore, with more than 50% using Singapore as their regional headquarters. To date, there are over 10 African companies present in Singapore. For example, African oil company Sonangol, has set up a Singapore office to facilitate its oil trade with Asia, leveraging Singapore’s good geographical location and pro-business environment.
Mr G. Jayakrishnan added that Asia is enjoying a period of upward growth and remains one of the bright spots amid the current global landscape. To tap into this growth, we welcome African companies to partner Singapore companies, leverage Singapore’s position and connectivity to expand into the region.
To help African and Singapore companies to connect and identify joint business opportunities, IE Singapore has been organising the Africa Singapore Business Forum (ASBF). A premier business platform for fostering investment, trade and thought leadership between Asia and Africa, the third edition will be held in Singapore from 27-28 August 2014.
ASBF 2014 will address a wide range of critical issues on Africa’s economic landscape, provide insights into Singapore’s competitive advantages as well as identify opportunities for strategic collaboration between both regions. A highlight of this year’s programme is the keynote panel with Singapore’s Deputy Prime Minister and Minister of Finance, Tharman Shanmugaratnam.
The New African magazine has announced its highly anticipated list of the 100 Most Influential Africans of 2024, recognizing exceptional individuals who have made significant contributions to politics, business, science, sports, and civil society.
The annual compilation celebrates achievements by Africans on the continent and in the diaspora, reflecting the diversity and ingenuity of African talent.
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In a statement, Anver Versi, editor of the London-based magazine, emphasized the importance of the list in today’s divided global climate.
She said, “We need this because I cannot recall the world being so polarised, so divided, so stone-faced in the face of terrible man-made atrocities.
“The 100 Most Influential Africans of 2024 edition of New African offers an in-depth look at the lives and achievements of the extraordinary individuals shaping the African narrative on the continent and abroad.
“Their stories serve as a source of inspiration and a testament to the resilience and ingenuity of the African spirit.”
Spotlighting African Excellence Across Fields
Politics and Public Service
1. Bassirou Diomaye Faye
2. Kemi Badenoch
3. Muhammad Ali Pate
4. Claver Gatete
5. Ali Mohamed
6. King Mohamed VI
7. Ronald Lamola
8. Yemi Osinbajo
9. Nardos Bekele-Thomas
10. Ibrahima Cheikh Diong
Business
11. Robins Tchale-Watchou
12. Fatima Tambajang
13. Dr. Sidi Ould Tah
14. Samaila Zubairu
15. Thierno-Habib Hann
16. Akinwumi Adesina
17. Tariye Gbadegesin
18. Adebayo Ogunlesi
19. Wale Tinubu
20. Aigboje Aig-Imoukhuede
21. Prof. Benedict Okey Oramah
22. Moulay Hafid Elalamy
23. Olugbenga Agboola
24. Alain Ebobissé
25. Tunde Olanrewaju
26. Nassef Sawiris
27. Aliko Dangote
28. Ismael Belkhayat
29. Hassatou Diop N’Sele
30. Jeremy Awori
31. Manuel Moses
32. Hassanein Hiridjee
33. Rene Awambeng
Civil Society
34. Joseph Moses Oleshangay
35. Mohamed Adow
36. Michael Kakande
37. Ndidi Okonkwo Nwuneli
38. William Asiko
39. Eva Omaghomi
40. Nelson Amenya
41. Helmy Abouleish
42. Binaifer Nowrojee
Science and Academia
43. Elhadj As Sy
44. Chinasa T. Okolo
45. Tshilidzi Marwala
46. Prof. Colleen Masimirembwa
47. Prof. Moses Obimbo Madadi
48. Rediet Abebe
49. Rachid Guerraoui
50. Abdoulaye Diabaté
51. Joy Buolamwini
52. Abeba Birhane
Opinion Shapers
53. Miatta Fahnbulleh
54. Olajide Olatunji
55. Carlos Lopes
56. Zain Verjee
57. John-Allan Namu
58. Vera Songwe
59. Nesrine Malik
60. Tayo Aina
61. Thebe Ikalafeng
62. Mavis Owusu-Gyamfi
63. Hannah Ryder
64. Ayman Mohyeldin
65. Nicolas Pompigne-Mognard
Creative Arts
66. Zineb Sedira
67. Rita Mawuena Benissan
68. Iansmith Mwenda
69. Idris Elba
70. Ken Wakia
71. Adejoké Bakare
72. Ayra Starr
73. Selma Feriani
74. DJ Edu
75. Eugene Mbugua
76. Chigozie Obioma
77. Kamel Daoud
78. Tesfaye Urgessa
79. Mehdi Qotbi
80. DBN Gogo
81. Yinka Ilori
82. Amina Lola Shoneyin
83. Ekow Eshun
84. Zhong FeiFei
85. Mati Diop
86. Hassan Hajjaj
87. Koyo Kouoh
88. Mo Harawe
89. Victoria Kimani
Sports
90. Patrice Motsepe
91. Letsile Tebogo
92. Imane Khelif
93. Tunde Onakoya
94. Gelson Fernandes
95. Oumar ‘Reug Reug’ Kane
96. Biniam Girmay
97. Ademola Lookman
98. Ruth Chepng’etich
99. Omar Berrada
100. Sifan Hassan
Prominent activist Martins Otse, widely known as VeryDarkMan (VDM), has alleged that over N180 million was stolen from the account of his NGO, the Martins Vincent Osei Initiative, following a cyberattack.
Otse, who launched the initiative in October, initially raised over N35 million within hours of its debut.
The campaign gained further momentum when celebrated music producer Michael Collins Ajereh, popularly known as Don Jazzy, contributed N100 million.
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In a video shared on Instagram on Friday, Otse disclosed that the NGO’s funds were diverted into an unknown account.
He said, “Honestly, I’ve not been myself for the past few days. Somebody hacked into the NGO website, and N180 million is missing. Thankfully, we’ve tracked the person, and one suspect has been arrested.”
Otse revealed that the NGO’s bank account has been placed on Post No Debit (PND) status to prevent further withdrawals.
According to him, while N20 million remains in the account, N160 million was siphoned. He added that steps are being taken to recover the money.
“We’re heading to Jos to recover the money,” he stated.
As a precaution, Otse confirmed that the NGO’s app has been temporarily shut down for maintenance and enhanced security measures.
He assured supporters of regular updates on the situation.
The Martins Vincent Osei Initiative was created to support vulnerable populations and address societal issues.
Embattled Nigerian pastor and founder of SPAC Nation, Tobi Adegboyega, has defended his opulent lifestyle, claiming it serves to inspire young people rather than flaunt wealth.
This statement comes amid a UK Immigration Upper Tribunal ruling ordering his deportation over visa violations.
Adegboyega, 44, faced accusations of overstaying his visitor visa, which expired after he arrived in the UK in 2005.
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He had applied to remain in the country on human rights grounds. The tribunal, however, ruled against him, citing his failure to regularize his status.
The pastor’s luxurious lifestyle, including designer clothing and expensive cars, was a focal point of the case.
Addressing the tribunal, Adegboyega stated that his lifestyle is fully funded by his wife, Mary Olubukola Alade, who earns £100,000 annually at AON.
He said, “I live with my partner, Mary Olubukola Alade, who earns £100,000 per year working for AON. I spend my time working for the church, for which I am unpaid. I am entirely supported by Mary. I have a first-class law degree from Nigeria, but I have ‘sacrificed’ my legal career to help those who cannot help themselves.”
Defending his appearance, Adegboyega emphasized the importance of projecting success to his young congregation.
The court noted, “For instance, people have pointed to the fact that he wears designer clothing and drives expensive cars. He was adamant that all of his personal possessions had been paid for by Mary.
“He believes it is important for him to dress the way that he does because he needs to inspire these young people – they need to understand that there are legitimate ways of making money, for instance through entrepreneurship.”
Despite the ruling, Adegboyega dismissed the deportation concerns as insignificant.
“I’m right here at home, no cause for alarm. Naturally, I will dismiss things that have to do with retrogression; every Nigerian should be proud of me. Living in the UK, a city that is well known for pulling people down, I have survived all sorts, so the matter that they are propagating is the smallest matter,” he said.
He further expressed confidence in his resilience. “No panic, I love London city, it is my city, and nobody can do anything. Of all the people of colour you know here – pastors and leaders – I have survived everything. I’m here, I am at home, nobody should panic for me.
“I succeeded well in this country despite all challenges, and I’m in the league of people you look up to. I have survived that well; nothing has changed, nothing will change,” he added.
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