Key De­vel­op­ment and Fi­nance Up­dates

Financial Nigeria Magazine - - Contents - Com­piled by Daniel Iyanda

West Africa gets ca­reer-neu­tral in­ter­net ex­change

MDXI, MainOne’s Data Cen­tre sub­sidiary, and As­ter­oid, a global IXP plat­form provider, have part­nered to launch a car­rier-neu­tral In­ter­net Ex­change Point (IXP) for West Africa. The West African In­ter­net Ex­change (WAF-IX) will be lo­cated in MDXI’s Tier III Data Cen­tre in La­gos.

Ac­cord­ing to MDXI, WAF-IX will im­prove traf­fic ex­change and lo­cal­i­sa­tion within West Africa, re­duce la­tency, im­prove speed, and pro­vide qual­ity ser­vice to en­dusers. It would also fos­ter the at­tain­ment of the dig­i­tal econ­omy across West Africa.

“West Africa’s dig­i­tal econ­omy is on the rise, but huge gaps still ex­ist in in-coun­try in­ter­con­nec­tion,” said Remco van Mook, As­ter­oid’s CEO. “We be­lieve that the In­ter­net sec­tor across West Africa has in­cred­i­ble po­ten­tial for growth and will be greatly en­abled by the West African In­ter­net Ex­change.”

Re­cently, MDXI re­ceived the Gold Data Cen­tre cer­ti­fi­ca­tion from Mi­crosoft. This cer­ti­fi­ca­tion is the high­est part­ner­ship level with Mi­crosoft in Data Cen­tre Com­pe­ten­cies and Cloud Pro­duc­tiv­ity in Mi­crosoft’s Part­ner Net­work pro­gram.

Pan-African group calls for reg­u­la­tion of sec­ond-hand tyres

Part Worn Africa (PWA), a new­ly­launched con­sumer and road safety ad­vo­cacy group, has called on gov­ern­ments and reg­u­la­tory bod­ies across Africa to en­force stronger reg­u­la­tions on the sale of part-worn and sec­ond-hand tyres.

Ac­cord­ing to the group, Africa has the high­est rate of road traf­fic deaths in the world, with 26.6 deaths per 100,000 in­hab­i­tants. The in­abil­ity to en­force strin­gent safety and qual­ity stan­dards on the use of tyres leaves African road users vul­ner­a­ble to un­safe and il­licit part-worn tyres that have cost the lives of many.

“There is a need to pro­tect road users by de­vel­op­ing, en­forc­ing and mon­i­tor­ing com­pli­ance with ap­pro­pri­ate leg­isla­tive and reg­u­la­tory stan­dards and spec­i­fi­ca­tion for sec­ond-hand and part­worn tyres, uni­formly across Africa,” said Ab­dul Wa­heed Pa­tel, Direc­tor of PWA.

The group said it will be work­ing with gov­ern­ments, reg­u­la­tory bod­ies and mul­ti­sec­toral in­ter­est groups across Africa to ad­dress the pol­icy, leg­isla­tive and reg­u­la­tory deficits that ex­pose un­wit­ting con­sumers to this ma­jor haz­ards on Africa’s roads.

Short­age of fund­ing hin­ders ho­tel ex­pan­sion in Nige­ria

The Man­ag­ing Direc­tor of W Hospi­tal­ity Group, Trevor Ward, has said Nige­ria’s in­creas­ing eco­nomic so­phis­ti­ca­tion is fu­elling the rapid ex­pan­sion in the num­ber of ho­tel rooms in the coun­try.

There are over 9,603 rooms across 57 ho­tels planned by lead­ing ho­tel brands in the coun­try. This is ac­cord­ing to API Events, or­gan­iser of the West Africa Prop­erty In­vest­ment (WAPI) Sum­mit.

“The real­ity is that only 4,000 of these ho­tel rooms are un­der con­struc­tion,” said Ward. “There is no short­age of projects and de­vel­op­ers, it is the fi­nance that is in short sup­ply. It is in­con­ceiv­able that all the projects in the pipe­line could be funded – if they were, and were built, there could be chronic over­sup­ply.”

Ac­cord­ing to Ward, de­spite the po­ten­tial of­fered by the econ­omy and mid-scale mar­kets, in­ter­na­tional brands are fo­cused on the high-end mar­ket – the busi­ness and Meet­ings In­cen­tives Con­fer­ences and Ex­hi­bi­tions (MICE) sec­tors.

Life ex­pectancy in Nige­ria now 55 years, could rise to 74

The 2018 life ex­pectancy data pub­lished by the World Health Or­gan­i­sa­tion (WHO) shows that the av­er­age life ex­pectancy at birth in Nige­ria is 55.2 years, an im­prove­ment from the 47 years pre­vi­ously re­ported.

Ac­cord­ing to the data, a male child born in 2018 is ex­pected to live up to 54.7 years, while a fe­male child is ex­pected to live ap­prox­i­mately 55.7 years. With this, Nige­ria ranks 178 out of 192 coun­tries on the World Life Ex­pectancy rank­ing.

Also, a re­cent study by the In­sti­tute for Health Met­rics and Eval­u­a­tion (IHME), an in­de­pen­dent global health re­search cen­tre at the Univer­sity of Wash­ing­ton, re­vealed that life ex­pectancy in Nige­ria can in­crease to 74.8 years by 2040.

The lead­ing causes of death in Nige­ria, ac­cord­ing to the WHO data, in­clude in­fluenza and pneu­mo­nia, tu­ber­cu­lo­sis, di­ar­rhoeal dis­eases, stroke, HIV/AIDS, coro­nary heart dis­ease, liver dis­ease, prostate can­cer, di­a­betes mel­li­tus, ma­ter­nal con­di­tions and malaria.

Clear pol­icy, oth­ers needed for Africa to har­ness aero­space tech­nolo­gies

Air­bus, a com­mer­cial air­craft man­u­fac­turer, has re­leased a White Pa­per on the role of aero­space tech­nolo­gies and their im­pact on so­cio-eco­nomic de­vel­op­ment in Africa. The Pa­per is ti­tled, “The Great En­abler: Aero­space in Africa.”

Ac­cord­ing to the re­port, aero­space tech­nolo­gies can in­crease ac­cess to health­care, en­hance food se­cu­rity through pre­ci­sion farm­ing, con­nect peo­ple to mar­kets and goods faster, and em­power busi­nesses with in­no­va­tive prod­ucts and so­lu­tions.

The re­port also stresses the need for clear gov­ern­ment poli­cies in hu­man cap­i­tal de­vel­op­ment, part­ner­ships and fi­nanc­ing to har­ness the power of aero­space tech­nolo­gies.

The re­search was based on 30 in-depth in­ter­view with a cross-sec­tion of stake­hold­ers, in­clud­ing Nige­ria’s Na­tional Space Re­search and De­vel­op­ment Agency, African Air­lines As­so­ci­a­tion, In­ter­na­tional Air Trans­port As­so­ci­a­tion, African De­vel­op­ment Bank and the World Bank.

Some used tyres

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