Category: Uncategorized

Alliance Assurances: Insurance

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  Alliance Assurances was established in December 2004 by a consortium of Algerian investors with an initial capital of AD500m (€4.1m). However, Alliance Assurances only started effective operations in 2006. In 2007 revenue increased by 178% compared to the previous year. The sharp rise in revenue was due to the launch of a commercial development programme, which led to the creation of Algeria Touring Assistance. With an optimised communication policy Alliance reached second position in the Algerian market in 2008. In 2009 Alliance Assurance created its subsidiary Orafina, which is dedicated to the development of enterprise resource planning and designed to become a software and

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Gearing up: The country has set its sights on higher fertiliser production

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  With among the largest gas reserves in the world, Algeria is set to emerge as one of the largest international producers of phosphates in the coming years. Together with cheap energy prices and its close proximity to a range of markets, these factors make the country ideally suited to large-scale fertiliser production and export. (https://thebiem.com) Domestic production has been ramping up in recent years and is set to continue to do so following a major investment in the sector announced in mid-2016. Joint Ventures Fertiliser production is currently dominated by two major ammonia and ammonia-based fertiliser projects involving foreign companies, with a third facility

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Working together: The role of the private sector in the construction and management of transport infrastructure is expanding

Posted OBG AdminPosted in Uncategorized

  Algeria is among the top-five African states in terms of investment via public-private partnerships (PPPs) over the last 15 years, according to figures from the UN Conference on Trade and Development, with the public and private sectors increasing cooperation on transport infrastructure development in particular. Initiatives along these lines include public-private joint ventures (JVs) to build and operate major facilities, such as the main ports and urban public transport networks, as well as the use of mixed public-private firms to assemble equipment and lay

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Centres of attention: Tourism Investment Zones are receiving renewed focus

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  Though nominally at the centre of Algeria’s tourism policy for decades, specially designated Tourism Investment Zones (Zones d’Expansion Touristique, ZETs) have failed to act as an effective springboard for full-scale take-off of the tourism sector. Amid the government’s current drive to cut waste across the board and develop hospitality infrastructure, the ZETs are receiving renewed attention. Formation First established in the mid-1960s, the ZETs have seen numerous modifications over the years – often correctives in reaction to encroachment of urban development and misuse of ZET concessions for non-tourism construction. Today they number 205 and comprise 52,200 ha of land specifically earmarked for tourism development.

Sheikh Tamim bin Hamad Al Thani-Emir of Qatar

Pulling in capital: A new investment framework should attract more investors to a greater variety of sectors

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As part of steps to reduce the country’s economic reliance on oil and gas production, Algeria’s parliament in mid-July 2016 passed a law aimed at attracting new private sector investment by modifying the national investment promotion framework, which dates from 2001. The law is due to be implemented by the end of 2016. In keeping with this timetable, the Ministry of Industry and Mines in November 2016 indicated that applicatory decrees for the legislation had been completed and submitted to the government for approval. (norvado.com)

David Gledhill-CEO-Port of Salalah

Affordable coverage: Micro-insurance schemes are reaching new pockets of the population

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  With insurance penetration hovering below the 2% mark, authorities in Ghana have been attempting to increase awareness and the percentage of the population that are covered by insurance schemes. Many of these efforts have been directed towards driving the adoption of micro-insurance products, as the government and underwriters see the potential of a largely undeveloped market. Educational programmes and innovative distribution arrangements involving mobile operators are helping to bridge the gap and reach larger swathes of the population. Protection schemes for low-income earners have been gaining a stronger footing in recent years. According to the “Landscape of Micro-insurance in Ghana 2015”, published by the

Azeem Azimuddin-CFO and Advisor to Chairman-Aya Bank

Industrial jewel: The port city of Aqaba continues to be the kingdom’s key manufacturing and transport centre Industrial jewel

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By leveraging its strategic location on the Red Sea, a short distance from the Israeli, Egyptian and Saudi Arabian borders, Aqaba has become a lively base for manufacturing industries, as well as a transport and tourism centre. The rail and road network for the rest of the kingdom also begins here, connecting industries with the main domestic markets of Amman and the north, as well as a range of other countries beyond. Logistics and tourism have traditionally taken priority in the city, but this is

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Toeing the line: Falling oil revenues prompt a rethink of fiscal policy

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Against a backdrop of falling oil revenue, and despite sharp cuts in spending, and investment spending in particular, public finances slid into the red in 2015 with the country experiencing its first deficit in 17 years. However, both revenues and outlays are expected to recover slightly in 2016, and the authorities are seeking new ways to increase non-oil revenues and working with international backers to improve the management of state finances over the longer term. Going Into The Red According to IMF figures, in 2015 the Gabonese government ran an overall fiscal deficit of 2.4% of GDP and a primary deficit (excluding debt repayments) of

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

High priority: The role of education is key in attaining the country’s goals

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One of the three key pillars of the Emerging Gabon Strategic Plan is Services Gabon, which addresses the development of a skilled labour force and aims to establish the country as a regional centre for financial services, tertiary education, health and environmentally sustainable development. To this end, efforts are now under way to increase the number of schools and training institutions, train and recruit more teachers, and produce reliable statistics on student performance. Adaptation According to the General Directorate of Economic and Fiscal Policy, the initial state budget for 2015 was CFA3.1trn (€4.7bn); however, this was later revised to CFA2.7trn (€4.1bn). This decrease was the

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Small companies, big benefits: Facilitating sector growth by supporting SMEs

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  Small and medium-sized enterprises (SMEs) run by Emirati entrepreneurs secured health service contracts worth Dh24m ($6.53m) between 2012 and 2015, according to Dubai Health Authority (DHA). DHA’s director of purchasing and supplies, Eman Khalfan Al Jallaf, told local media her department had made it a priority to deal with local SMEs offering a range of services from medical equipment and IT to security. As part of the Dubai government’s aim of encouraging smaller firms to play a larger role in driving the diversification of the emirate’s economy, Al Jallaf said a number of incentives had been offered to their suppliers. One technique was to