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S. Africa Farmers Seek $220m To Mitigate Effects Of Drought

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South Africa’s agricultural industry body AgriSA says it will approach banks, agribusiness and government to raise 3 billion rand ($220 million) to help farmers hit by severe drought. Rice farmers The agency’s Executive Director, Omri van Zyl, told reporters on Friday in Pretoria that farmers were short of income to mitigate the effect of drought the 2018/2019 farming season. Farmers have faced dry conditions over most of the nation for the last year, even as they are still recovering from a disastrous El Nino-induced drought in 2015. AgriSA said that a survey of producers showed that 31,000 jobs and 7 billion rand ($510 million) in potential revenue were lost since January last year because of drought. Droughts stricken Somalis searching for water “We have basically reached a point now where we don’t have any more fat in the system. There is no buffer any more in the agricultural sector. “AgriSA will also speak to the government’s National Disaster Management agency to get access to the contingency reserves. “We see this drought again as a national emergency because it is going to have an impact directly on consumer prices, it is going to have an impact on food affordability and it has an impact on the farmers on the land,” said van Zyl. Jannie de Villiers, head of producers body Grain SA, also told reporters at the briefing that white maize prices were just off a near two-year peak last week. “The farmers didn’t get enough (income) to recuperate in 2016 so the grain sector is in a lot worse financial situation than it was. “Our ability to absorb this current drought is under pressure,” de Villiers said In early estimates for the 2018/2019 season, farmers have planted around 95 per cent of the country’s yellow maize, which is mainly used in animal feed. The white maize futures contract due in March traded up 2.76 per cent to 3,088 rand on Friday, just under a near two-year high of 3,255 rand reached last week. South Africa’s official Crop Estimates Committee, which in October estimated farmers would plant 2.448 million hectares of maize in the 2018/2019 season, is expected to release the preliminary area planted estimates on Jan. 29.

 

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Business

AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL

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AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

At the esteemed Choose France Summit 2024, held on Monday, May 13, 2024, Aigboje Aig-Imoukhuede, the Chairman of Access Holdings PLC, was formally appointed as the President of the France Nigeria Business Council (FNBC) by the President of the French Republic, President Emmanuel Macron.

Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.

The France Nigeria Business Council (FNBC) stands as a pivotal coalition of Nigerian private sector business leaders, committed to enhancing bilateral relations between Nigeria and France. Its core objectives revolve around the facilitation of trade, investments, infrastructural development, job creation, and cultural integration between the two nations.

Since its establishment in June 2021 under the auspices of President Emmanuel Macron, the FNBC has diligently utilised its member network to champion investments across key business sectors, fostering cultural understanding and driving economic growth between Nigeria and France. Notably, it has catalysed Nigerian businesses’ ventures into investment opportunities within France.

Comprising 13 distinguished members, the Council boasts prominent figures including Aigboje Aig-Imoukhuede (President), Abdul Samad Rabiu, Gilbert Chagoury, Mike Adenuga, Aliko Dangote, Jim Ovia, Tony Elumelu, and John Coumantaros. Additionally, Kola Karim, Leo Stan Ekeh, Daisy Danjuma, Gbenga Agboola, and Jean Haas serve as integral members, with Jean Haas holding the position of Secretary.

Aig-Imoukhuede’s appointment follows the passing of Herbert Wigwe, the Council’s former President, in February 2024.

Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.

The Choose France Summit is an annual gathering that convenes business magnates, investors, and governmental dignitaries to explore investment prospects within France. The highlight of the Summit was the Presidential Dinner, characterised by high-level engagements and mutual commitments between participating parties.

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ACCESS BANK (SL) LTD STRENGTHENS LEADERSHIP TEAM WITH KEY BOARD APPOINTMENTS, NAMES NEW CHAIRMAN

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy.

These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.

Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko.

The appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance. Their combined experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd.

Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.

“We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to outgoing Chairman, Alice Marie Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.”

Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter. The Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.

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Access Holdings Vests 23.8 million Units of Shares on Senior Executives

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H


In line with the disclosure requirements of the Securities and Exchange Commission and the Nigerian Exchange Limited, Access Holdings Plc , Africa’s leading financial services group, has announced the award of 23.8 million ordinary shares to some of its senior executives and executives of Access Bank, its flagship subsidiary.

This is in pursuant of the terms of its shareholders approved Employees Performance Share Plan.


Bolaji Agbede, the Acting Group Chief Executive Officer of Access Holdings, Roosevelt Ogbonna, the Managing Director/Chief Executive Officer of Access Bank, and six others were vested with 23,883,790 units of the Group’s shares, worth a combined N427.13 million.


This was disclosed via notices duly filed with the Nigerian Exchange Limited on Tuesday.


According to the filings, Ogbonna got the highest amount of shares totalling 12,345,679 units and worth N220.37 million, having been traded at N17.85 per share.


Agbede was vested with 2,216,992 units of shares, valued at N39.795 million.


Other directors, who had shares vested include Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, with 1,234,568 worth N22.16 million; Iyabo Soji-Okusanya, Executive Director, Commercial and Investment Banking Division, Access Bank, with 1,691,308 at N17.95 per share.

Her vested shares are valued at N30.36 million, and Chizoma Okoli, Access Bank’s Deputy Managing Director, Retail South, who got 1,728,395 units valued at N30.85 million.


Dr Gregory Jobome, Executive Director, Risk Management, and Hadiza Ambursa, Executive Director, Commercial Banking, were each vested with 1,728,395 valued at N30.85 and N31.02m respectively.

Access Holdings’ Company Secretary, Sunday Ekwochi, was vested with 1,210,058 units of the Group’s shares worth N21.72m.


The shares were vested on May 3rd and May 6th.


The vesting of the shares is not a purchase or sale transaction in the context of the Exchange’s Rules.

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