Monthly Archives: February 2014

Nigeria ready to shine African Fashion Week Nigeria (AFWN)

Untitled1

LaQuan Smith has combated cancer, dressed superstars like Lady Gaga It’s no secret that there is a pocket full of creativity when it comes to Africa. From Pratt’s inspirational campus in the Clinton Hill section of Brooklyn, the Fashion Department extends students a concept-led, craftbased education at the heart of one of the world’s cultural epicenters.

Pratt Institute has set in motion a flashy new exhibit called “Black Dress” which pays tribute to African American fashion designers. When Rihanna famously walked her scarf out in a gold cat suit for her Rude Boy music video, you may be amazed to know that it was twisted by an up and coming designer from Queens, who is fast becoming a national sensation. His name is LaQuan Smith and he has a furor following.

LaQuan Smith is an African- American fashion designer who founded and is the CEO of the women’s clothing brand LaQuan Smith, LLC. Smith is based in Queens, New York. LaQuan Smith has combated cancer, outfitted superstars like Lady Gaga and Beyonce, and has shown at New York Fashion Week. Smith is one of the ten modern New York City centered designers presented in an exhibit at Pratt Manhattan Gallery in Chelsea called “Black Dress” which pays tribute to African American designers. Born and raised in St. Albans, Smith has no proper training, no monetary backers and his grandmother taught him how to stitch. But at age 26, he has Vogue Magazine and a long list of celebrity clients singing his praises for what he calls a “hip hop Parisian” style that Rihanna put on the fashionista map. “This is the catsuit that she wore but in the 3D version, and the gold version. So we remixed and did it in a dress,” says Smith.

Since he can’t get the big business backers in his box this red hot will be at no show at New York Fashion Week. Professor Adrienne Jones says it’s a main aim why she dreamed up the exhibit. “This is not the time for us right now. We come and go but the money isn’t always there so we have to try different venues to get out,” says Jones.

Advertisements

MTN TO EXPAND ITS NETWORK THROUGH INVESTMENT

12

With an endeavor to maintain its rank as the leading mobile service provider, eminent telecommunication company, MTN Rwanda is all set to invest at least $20 million. As articulated by Ebenezer Asante, CEO, MTN has already invested above approximately $200 million in the last five years to enhance its network coverage in different corners of the country. He added, “The past year was the right time for MTN Rwanda to sell off its towers and focus on what we do best”. Worth mentioning, the pioneer sustained to rule the domestic market with more than 3 million subscribers with 5% growth in 2013 even at the time when telecommunication industry was in crisis. Further, the MTN Mobile Money users breaking all the records touched 1 million and the company is geared up to commence cross-borders money transfer service.

In 2013, MTN was crowned with the best taxpayer award by Rwanda Revenue Authority. Revealing their future plans, the company anticipates to enhance the number of service centers, of which at present there are only 17 including 24/7 service center in the country.

Africa attracting Indian Oil companies

ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL) have jointly bought for $2.475 billion the Videocon’s 10 percent stake in the Rovuma Area 1. OVL and OIL have together completed the attainment of Videocon Group’s 10 percent stake in a gigantic Mozambique gas field along with OVL additionally buying US energy major Anadarko Petroleum’s 10 percent stake in the same block for $ 2.64 billion. According to sources, ONGC Videsh Ltd have elevated around $1.5 billion in one-year link loans from foreign lenders, while OIL engaged $900 million to stock their corresponding share of payments to Videocon. Also, talks are going on that OVL would increase another $2.6 billion for the Anadarko payments. OVL stated, “OVL and OIL have completed the acquisition of 10 percent interest in the Rovuma Area 1 offshore block, Mozambique, by acquiring 100 percent shares of Videocon Mozambique Rovuma 1 Ltd, the company holding the 10 percent interest in the Area 1, from Videocon Mauritius Energy Ltd.”

Furthermore, the bought up stakes will be split in a 60:40 ratio between OVL and OIL. The agreement by two businesses was signed with Videocon Mauritius energy thus, procuring the stake in the gas field. OVL added, “This marks OVL’s entry into this emerging world-class offshore gas basin with significant future upside potential.

Area 1 has the potential to become one of the world’s biggest LNG producing hubs and is strategically located to supply LNG to the growing Indian gas market.” Also, Videocon’s Director Kuldeep Drabu quoted on the agreement, “Videocon shall also continue to explore more opportunities in energy sector elsewhere… pursuant to its corporate objective and strategy to remain actively invested in E&P activities worldwide.”

KENYA HAPPY WITH TIES BETWEEN IT AND MALAWI

NAIROBI: President Uhuru Kenyatta of Kenya has commended good relations existing between Malawi and his Eastern AFRICAN country. Malawi state radio, MBC News, says President Kenyatta has received Malawi High Commissioner to Kenya retired Brigadier-General Marcel Chirwa in the capital, NAIROBI. The Kenyan Leader says he welcomes the re-opening of the Malawian Mission, and Kenya will also set up an Embassy in the Malawian capital, Lilongwe, as soon as possible. Retired Brigadier-General Chirwa says President JOYCE BANDA realizes the importance of the relations between Malawi and Kenya. The Envoy says it is for this reason the Malawian Head of State ordered in March 2013 the re-opening of the Mission, after it had been closed way back in October 2005. The Malawi High Commissioner has expressed gratitude to the Government of Kenya for the support and cooperation during the time his Mission has been re-establishing itself in Nairobi.

The “Best Core Banking Systems Technology Provider, Africa” Award goes to…

ICS Financial Systems Ltd. – ICSFS , the global software and services provider for banks and financial institutions has won “Best Core Banking Systems Technology Provider” in Africa at the esteemed World Finance Technology Awards that was structured by World Finance magazine. It affords a comprehensive collection of banking business units with a rich sweep of functionality and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance. ICS Banks has always been a pioneer in utilizing the latest technology to serve financial institutions.

The World Finance Awards recognize industry leaders, individuals, teams and organizations that epitomize the yardstick of accomplishment in the business world. They identify the leading ground-breaking individuals and companies demonstrating best practices for skills worldwide. Informed by a voting system supported by the World Finance magazine’s readership, the World Finance Award Selection Panel has used a wide range of criteria to inform its decision over the 2013 awards, lending the critical eye of a collective 205 years of business journalism to the exhaustive information gathered by the research team.

Alexander Redcliffe, Editor at World Finance said “It gives me great pleasure to bestow upon ICS Financial Systems. The World Finance 2013 award for the ‘Best Core Banking Systems Technology Provider, Africa’. May the firm’s excellent work and devotion to their market continue, “

This award high spot ICSFS’ footprints in the African ICT Market, while conceiving the rapid expansion of ICSFS’ customer base in many African countries such as Nigeria, Ghana, Gambia, Sierra Leone, Liberia, Congo (RDC), Côte D’Ivoire, Djibouti, Kenya, Rwanda, Uganda, Tunis, Egypt, Algeria, Libya and Sudan.

The Managing Director of ICSFS, Robert Hazboun commented, “We are delighted to be adding such an award to our industry accolades, as it is our fourth time being recognized as the Best Core Banking Systems Technology Provider in Africa. We are very proud to be awarded by World Finance magazine as a leading solution provider. ICSFS invests heavily in research and development to ensure the business requirements delivered to its customers is in line with their rapidly changing needs.”