Category: Uncategorized

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

Nigeria reworks its debt profile in the years since 2006 relief

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Eight years after securing $18bn in debt relief from the Paris Club and multilateral creditors, Nigeria has firmly repositioned itself on international debt markets. Having staged its second eurobond auction in as many years in 2013, with plans to return regularly to the dollar-denominated offshore bond markets, Nigeria is rebalancing its debt profile by paying down part of its local-currency exposure. While the rebasing of its GDP gives the country more room for additional issuances, it will need to sustain upward momentum in its sovereign credit re-ratings as it works to control subnational debt issuance by state governments. Debt Profile Following Nigeria’s paying off of

Transcorp Hotels: Hospitality

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The Company  Transcorp Hotels, formerly Transnational Hotels and Tourism Services, is the hospitality subsidiary of Transnational Corporation of Nigeria (Transcorp), which holds a 79% stake in the company following the successful conclusion of an initial public offering (IPO) in October 2014 and subsequent listing on the Nigerian Stock Exchange, which reduced Transcorp’s stake from 88%. The rest is owned by the federal government of Nigeria (11%) and individual shareholders (10%). Transcorp Hotels currently owns two hotels. The first, Transcorp Hilton Abuja, is one of Nigeria’s leading hotels, with 670 rooms (427 standard, 116 deluxe and 127 executive suites) as well as 24 meeting rooms, one

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

Projects to boost port capacity and address bureaucratic bottlenecks in Nigeria’s transport sector

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The country is facing a substantial capacity deficit when it comes to meeting the current and predicted demand for cargo volumes. This is set to change with the construction of two new greenfield ports in and around Lagos, in combination with a selection of both ambitious and smaller-scale projects serving the south-east part of the country. As competition to establish regional leadership for port capacity ramps up, mainly from expansive projects taking place in nearby Ghana, Togo and Côte d’Ivoire, Nigeria is also hoping that once its new megaports come on-stream, it too will be able to secure a position as one of the region’s

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Fast food restaurants in Nigeria

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Despite the challenges inherent in retailing in Nigeria, the quick-service restaurants (QSR) segment has been growing rapidly. Like many areas of the economy, its long-term potential stands out in a global context because of Nigeria’s sizeable population, currently standing at around 170m. But while investors in most consumer-facing industries are expecting smaller returns upfront in exchange for bigger ones later on, QSR offers investors a quick turnaround for profits. The challenges, however, are familiar from other sectors, including the cost of electricity, land, experienced labourers and importing inputs. Challenges unique to QSR include striking a balance between the local palette and popular international tastes, all

President Abdel Fattah El Sisi

Boosting economic development and facilitating investment in Nigeria’s Osun State

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While it lacks the hydrocarbon resources of Nigeria’s Delta states and, with a modest population, has traditionally received one of the lowest amounts of revenue allocation from federal government, the State of Osun has nonetheless been aggressive about working to promote growth and development. Although Osun does face its fair share of challenges, including a large dependency on the volatile agricultural sector and neglected infrastructure, the current administration has taken a number of steps to block monetary leakages, improve project preparation and delivery, and raise internally generated revenue (IGR). These efforts have been in parallel with attempts to improve the business environment in the state,

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Transport and infrastructure upgrades in Nigeria’s Osun State aim to enhance capacity and efficiency

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As part of the State of Osun’s public capital spending campaign, transport and water infrastructure are slated for a host of upgrades in terms of capacity and efficiency, while national initiatives to boost power provision and telecoms coverage should also benefit the local population. The state of infrastructure in Nigeria is a common concern for all levels of government, but there have been a host of public programmes that aim to change that. Receiving the highest state budget allocation, with capital expenditures for the transportation sub-sector estimated at N50.5bn ($308.1m) in 2014, road connections have been one of the most visible examples of the government’s

Mark Geilenkirchen-CEO-Port of Sohar

Complementary investments: Defence offset programmes bolster the economy and boost employment and training prospects

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Saudi Arabia was declared the world’s fourth-largest defence spender after the US, China and Russia in the International Institute for Strategic Studies (IISS) 2014 “Military Balance” report. It estimated the Kingdom’s defence budget for 2013 was $59.6bn, putting it ahead of the UK, France, Japan and Germany. According to the Saudi Arabian Monetary Agency, the 2013 budget for defence and security was SR251.3bn, ($67bn), equivalent to 8% of GDP and accounting for 30.6% of the total budget for the Kingdom. The total proportion of the

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

Qatar seeks to diversify its economy by supporting SMEs

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  It is easy to discern the fresh momentum in the drive to boost the private sector and, more particularly, small and medium-sized enterprises (SMEs) in Qatar. A number of recent developments indicate the government’s determination to create a more balanced economy for the hydrocarbons-rich state: the appointment in January 2015 of the minister of economy and commerce, Sheikh Ahmed bin Jassim bin Mohamed Al Thani, as the new chairman of the Qatar Stock Exchange – integrating the stock market more closely with the ministry; the launch of a new $27.4m Qatar Business Incubation Centre – reportedly the largest mixed-business incubator in the MENA region;

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

GTL production ramps up in Qatar

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  Hosting the world’s largest gas-to-liquids (GTL) plant, while also being a global centre for GTL research and development, Qatar today is at the forefront of this high-tech hydrocarbons sub-sector. Indeed, the success of GTL in the state has acted as a catalyst for development elsewhere, with the global sector expanding in 2014. Yet, as with other segments of the hydrocarbons industry, recent movements in oil and gas prices may have an effect on GTL, with the arbitrage at the heart of the finances of the process the subject of recent debate. Nonetheless, with GTL in Qatar able to provide high-quality products at large volumes,

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

Qatar’s utilities projects depend on increased R&D

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  While rapid progress is being made on a major campaign to expand the country’s power and water infrastructure, Doha is also at the centre of research and development (R&D) efforts in the utilities field. Programmes currently under way in the state are investigating ways to improve desalination techniques, reverse the salination of Qatar’s groundwater, and power future water plants with solar energy (see analysis). At the same time, “soft power” campaigns aim to raise public awareness of water’s vital importance to the country. KNOWLEDGE BASE: Since Qatar embarked on its ambitious national development plan, Qatar National Vision 2030, the state has been investing in