Day: November 9, 2022

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St Kitts and Nevis creates new opportunities for business by rooting out corruption

Basseterre, Nov. 09, 2022 (GLOBE NEWSWIRE) — The new administration of St Kitts and Nevis is committed to rooting out corruption and providing fertile new ground for business with its Anti-Corruption Act.

The Prime Minister of St Kitts and Nevis, Terrance Micheal Drew is looking to unleash the full potential of the country through proactive policymaking, instilling good governance and eradicating corruption. In this way, the government sees the new Anti-Corruption Act as one step towards reactivating its infrastructural and social growth and building a more resilient and inclusive economy.

The proposed Act will enable the appointment of a Special Prosecutor who will examine and prosecute criminal acts of corruption in the civil services, statutory boards and government-owned companies.

St Kitts and Nevis’s anti-corruption efforts are thus an essential part of a broader plan to attract international business and investors to the country. The country’s focus on ensuring ease of business and eradicating corruption has, in particular, generated significant interest from West African investors who are eager to launch their businesses overseas.

The wider aim of the anti-corruption drive is to promote ease of business in the country, with St Kitts and Nevis inviting investors to be part of its economic development. The government under the leadership of Prime Minister Drew, is specifically focused on formulating policies that attract Foreign Direct Investments (FDIs) to the country.

While corruption is a global problem, the Corruption Perception Index (CPI) ranks sub-Saharan African as having notably high levels of perceived corruption. In West Africa, particularly Nigeria, corruption has become a massive obstacle to business, undermining public trust, distorting markets and increasing costs to firms.

PricewaterhouseCoopers (PwC), a leading professional services network headquartered in London (UK), recently published a study indicating that Nigeria’s corruption could cost it up to 37% of its GDP by 2030 if it’s not dealt with immediately. The report further highlights the significant impact of corruption on Nigerians – including its wide-ranging effects on finance, business investment and standards of living.

All these difficulties are prompting West African investors to look further afield for business opportunities that offer safe and profitable returns. Many of these investors are turning to St Kitts and Nevis.

As an indicator of its commitment to citizens and investors, the government of St Kitts and Nevis is taking strict and serious action to ensure transparency in government. These measures and the general ease of doing business in the country are proving attractive to Nigerian investors who, facing a difficult situation at home, are looking to expand their horizons.

Meeting this interest is St Kitts and Nevis’s Citizenship by Investment Programme (CBI). For nearly four decades the programme has been inviting people to invest in the country as a route to gaining citizenship. Through an investment in the country’s Sustainable Growth Fund (SGF), investors are granted alternative citizenship, including the ability to conduct business freely in the country.

The CBI programme also helps investors to gain access to the world’s most exclusive markets, assisting with the expansion of business beyond national borders. Since St Kitts and Nevis is just a short flight away from the USA, citizens have the additional benefit of easy accessing the international community.

Alternative citizenship in St Kitts and Nevis is therefore becoming a crucial part of many individuals’ wealth diversification plans. Prospective Nigerian investors are viewing it as a means to preserve their wealth within an economically stable context, appreciating that St Kitts and Nevis’s economy is growing and free from the political and social conflicts that impact financial growth.

Along with a safe and corruption-free environment, St Kitts and Nevis offers a number of advantages to investors in its CBI programme. These include hassle-free global travel, citizenship for life which can also be passed on to future generations, a smooth and straightforward application process with the ability to add additional dependants to one application, possibilities for wealth diversification, and a host of new business opportunities.

Despite being the smallest country in the Western hemisphere, St Kitts and Nevis has been proving its potential to foreign investors. With a hospitality and service industry that has garnered international critical acclaim, the country also boasts one of the most robust and modernised public health infrastructures in the region.

St Kitts and Nevis’s education system now also offers advanced learning possibilities for all its citizens. This has proved a distinct benefit to investors, since the country allows investors the ability to pass their citizenship on to future generations. Thus investors and their families can enjoy the various rights and advantages open to those born in the country.

But it is not only Nigerians who have been thinking about personal wealth solutions in an unstable political and economic environment. Given the recent turmoil and instability of global markets, investors from around the world have been looking to St Kitts and Nevis’s CBI programme as a “Plan B” that can ensure financial and personal security.

Many investors have found that living in St Kitts and Nevis has had a positive impact on their mental health. Not only does the country provide its inhabitants with a tranquil environment of beaches and mountains to explore, but with the security and stability required to grow a business or provide for a family. As St Kitts and Nevis rolls out its good governance and transparency agenda, investors look on keenly to partake in its future.

PR St Kitts and Nevis
Government of St. Kitts and Nevis
mildred.thabane@csglobalpartners.com

GlobeNewswire Distribution ID 8692970

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L’Indonésie en passe de devenir le centre mondial de l’économie de la charia

DUBAÏ, Émirats arabes unis, 9 novembre 2022 /PRNewswire/ — PT Bank Syariah Indonesia Tbk (BSI) a affirmé l’engagement de l’Indonésie à devenir l’un des centres de la finance islamique mondiale, à travers l’introduction de quatre programmes visant à renforcer cet écosystème en Indonésie et à l’étranger.

Vice President Ma'ruf Amin accompanied by President Director of Bank Syariah Indonesia Hery Gunardi (second right), Compliance & HR Director of Bank Mandiri Agus Dwi Handaya (left) and Principal Representative Office of BSI Dubai Dian Faqihdien Suzabar when visiting Dubai Representative Office of PT Bank Syariah Indonesia Tbk.

Le ministre des entreprises publiques, Erick Thohir, a dirigé la préparation par les ministères de quatre programmes phares pour former cet écosystème. Le premier est le développement du marché de l’industrie halal dans le pays et à l’étranger. Le deuxième est le développement de l’industrie financière de la charia. Le troisième est l’investissement amical impliquant des entrepreneurs locaux. Et le quatrième, la croissance continue de l’économie de la charia dans les zones rurales.

Reconnaissant le potentiel de l’économie de la charia en Indonésie, le ministre Erick Thohir a exprimé son désir que les Indonésiens ne soient pas seulement des consommateurs de produits halal importés, mais aussi des producteurs. « Nous devrions être les producteurs et un acteur mondial. Mais cela serait impossible sans un système financier solide fondé sur la charia », a déclaré Erick Thohir.

Selon le rapport sur les indicateurs de l’état de l’économie islamique mondiale (« The State of Global Islamic Economy »), l’Indonésie a continuellement affiché une croissance significative. En 2019, le pays figurait parmi les 10 premiers pays de l’économie de la charia dans le monde. En 2020, ce rang a été relevé, plaçant l’Indonésie dans les cinq premiers.

Erick Thohir a créé la holding de la banque charia de l’État, la PT Bank Syariah Indonesia (BSI). La BSI est le résultat de la fusion de trois banques charia, à savoir la BNI Syariah, la BRI Syariah et la Bank Syariah Mandiri, qui a été inaugurée le 1er février 2021. La BSI est la plus grande banque islamique et la 7e plus grande banque d’Indonésie.

Le vice-président de la République d’Indonésie Ma’ruf Amin a déclaré, « La BSI devrait pouvoir faire de l’Indonésie le centre de l’industrie de la charia et de l’écosystème halal mondial. » « Notre espoir est que la BSI joue ce rôle non seulement au niveau national, mais aussi au niveau mondial. Par analogie, les banques islamiques ne jouent plus seulement dans une petite piscine, mais sont capables de nager dans le vaste océan », a déclaré Ma’ruf Amin, lors d’une visite au bureau de représentation de la BSI à Dubaï, Émirats arabes unis, le 4 novembre 2022.

Hery Gunardi, président-directeur de la BSI, a déclaré que la banque s’engageait à soutenir pleinement toutes les initiatives visant à renforcer l’écosystème dans le but de devenir le centre de gravité mondial de l’économie de la charia. La BSI, a-t-il dit, n’a cessé de développer l’écosystème financier de la charia dans le pays.

« L’Indonésie a un grand potentiel dans l’industrie halal », a ajouté Hery Gunardi. En effet, plus de 229 millions de personnes sont musulmanes, ce qui représente 87,2 % de la population totale du pays. Le potentiel de l’industrie alimentaire halal s’élève à 164,76 milliards de dollars. D’autres secteurs potentiels sont l’habillement (20 milliards de dollars), les médias halal (9,52 milliards de dollars), le tourisme halal (10,48 milliards de dollars), l’industrie de la santé (4,76 milliards de dollars), les cosmétiques halal et le hajj et la oumra (3,81 milliards de dollars). D’autres activités liées à la charia, comme l’investissement, ont un potentiel d’environ 122,65 milliards de dollars.

La BSI a également commencé à s’implanter sur le marché mondial. L’une d’entre elles est située au Moyen-Orient dans le cadre de la coopération avec des conglomérats internationaux et des startups à Dubaï, aux Émirats arabes unis, ce qui marque également l’expansion de la plus grande banque islamique d’Indonésie sur la scène mondiale. Cette étape a permis d’accélérer la prise en compte de la BSI au sein de la communauté internationale en augmentant ses capacités, sa compétitivité et sa réputation. La présence de réseaux commerciaux à l’étranger permet à la BSI d’interagir directement avec des composantes importantes du secteur bancaire mondial.

Hery Gunardi espère que la BSI se rapprochera des investisseurs mondiaux afin que la société puisse contribuer davantage au soutien des programmes du gouvernement de la République d’Indonésie, à la fois en finançant des projets d’infrastructure et de développement par l’émission du fonds Global Sukuk et en soutenant le développement des MPME nationales.

La BSI a maintenu ses performances positives au troisième trimestre 2022, réalisant un bénéfice net de 218,36 millions de dollars, soit une croissance de 42 % (sur 12 mois). Ces performances ont également été soutenues par la confiance du public, comme le prouve la hausse de 11,86 % des fonds de tiers qui ont atteint 16,68 milliards de dollars.

Le secteur du financement a également connu une croissance significative. Le financement de la BSI dans son ensemble a enregistré 13,59 milliards de dollars, soit une croissance de 22,35 %. Par segments, c’est le micro-financement qui a le plus contribué avec 37,32 %. Le financement à la consommation a augmenté de 25,26 %, le financement de gros de 21,79 %, le financement par cartes de crédit de 35,81 % et le prêt sur gage d’or de 30,15 %. De plus, le financement non performant (FNP) net n’était que de 0,43 %.

La croissance de 11,53 % des actifs témoigne également de performances solides et saines. La BSI s’est également efforcée d’optimiser ses coûts, comme en témoigne le meilleur ratio BOPO de 74,02 %. Jusqu’en septembre 2022, on comptait déjà 4,44 millions d’utilisateurs de BSI Mobile, en hausse de 43 % par an. D’après les profils des clients de la BSI, 97 % d’entre eux ont adopté le canal électronique pour leurs activités bancaires. Les transactions cumulées de BSI Mobile ont atteint 187,20 millions de transactions.

Le financement durable a atteint 3,47 milliards de dollars, soit 25,54 % du financement total de la BSI. « La promotion du financement durable est l’un de nos engagements dans le cadre de nos responsabilités sociales et environnementales dans diverses régions du pays, ainsi que notre soutien à la présidence indonésienne du G20 », a ajouté Hery Gunardi.

Photo – https://mma.prnewswire.com/media/1941007/TRW2022_1_25.jpg

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Morrow Sodali Fortalece sua Posição de Liderança no Mercado com a Nova Aquisição Australiana

Aquisição das principais comunicações financeiras australianas e do player de relações com investidores, a Citadel-MAGNUS impulsionará o rápido crescimento e a expansão significativa

NOVA YORK, Nov. 09, 2022 (GLOBE NEWSWIRE) — Morrow Sodali, empresa líder mundial em engajamento de acionistas e assessoria em governança, anunciou hoje a aquisição da agência australiana de comunicação financeira e relações com investidores, Citadel-MAGNUS, a primeira desde que a TPG Growth garantiu a participação majoritária em abril deste ano.

A aquisição sediada na Austrália representa uma expansão significativa da oferta de serviços da Morrow Sodali na região da APAC, para atender à demanda global de rápido crescimento de corporações para comunicações estratégicas e serviços de engajamento com investidores.

A combinação da Morrow Sodali e da Citadel-MAGNUS traz junto duas consultorias de confiança e líderes de mercado para oferecer o melhor aconselhamento estratégico da categoria e suporte aos nossos clientes. A Citadel-MAGNUS estará completamente integrada na Morrow Sodali, permitindo à firma fornecer uma oferta contínua e a mais ampla suíte de relações com investidores e soluções de comunicação para empresas listadas e privadas, com o objetivo de implementar os serviços expandidos a outros mercados.

A aquisição marca um significativo passo adiante na estratégia da Morrow Sodali de acelerar seu crescimento investindo em serviços que criam valor para seus clientes ao redor do mundo.

Alvise Recchi, CEO da Morrow Sodali, comentou: “Como parte da estratégia de crescimento global estratégico da Morrow Sodali, a adição da Citadel-MAGNUS expandirá nossa oferta de serviços para abranger um conjunto mais amplo de serviços de assessoria de Conselho, Diretoria Executiva e ESG, Relações com Investidores e Comunicações Financeiras. Estamos entusiasmados para ver o potencial desta oportunidade emocionante concretizado, à medida que continuamos a crescer em novos mercados em todo o mundo.”

Christian Sealey, CEO de Negócios Internacionais da Morrow Sodali, acrescentou: “Cada vez mais, nossos clientes estão vindo até nós em busca de aconselhamento e assistência em uma grande variedade de áreas que abrangem comunicação com os acionistas, engajamento de stakeholders, inteligência do mercado de capitais, governança corporativa e consultoria ESG. A aquisição da Citadel-MAGNUS nos permite fornecer soluções estratégicas para nossos clientes e nos posiciona de modo singular, para nos tornarmos o parceiro de confiança permanentemente escolhido.”

Peter Brookes, Diretor Geral Conjunto da Citadel-MAGNUS, afirmou: “Nossa equipe está entusiasmada em unir forças com a Morrow Sodali. Estamos vendo uma necessidade crescente de fornecer aos clientes uma oferta de ponta-a-ponta em todo o calendário financeiro e uma atividade direcionada por eventos cada vez mais complexos, onde a boa comunicação é fundamental. A combinação de nossas firmas reúne duas empresas de consultoria líderes e confiáveis, profundamente integradas à Austrália corporativa e que compartilham um forte foco na entrega de serviço excepcional ao cliente.”

Sobre a Morrow Sodali

Morrow Sodali é uma empresa global de consultoria corporativa que oferece consultoria e serviços abrangentes relacionados à governança corporativa, ESG, sustentabilidade, solicitação de procuração, inteligência dos mercados de capitais, engajamento de acionistas e detentores de títulos, fusões e aquisições, ativismo e situações contestadas.

Com sede em Nova York e Londres e escritórios nos mercados de capitais globais, a Morrow Sodali atende a mais de 1.000 clientes, em mais de 80 países, incluindo muitas das maiores corporações multinacionais do mundo. Os clientes incluem empresas listadas em bolsa e privadas, grupos de fundos mútuos, bolsas de valores e organizações de associação por inscrição.

Em 2022, a Morrow Sodali está comemorando seu 50o aniversário, e também garantiu um investimento majoritário da TPG Growth, a plataforma de middle market e de capital de crescimento da empresa de ativos alternativos TPG. Esta parceria promoverá significativamente a missão da empresa de fornecer a clientes em todo o mundo aconselhamento estratégico incomparável e suporte abrangente, permitindo que maximizem o valor e gerenciem habilmente as relações com acionistas.

Para obter mais informações sobre a Morrow Sodali, visite www.morrowsodali.com.

Sobre a Citadel-MAGNUS

A Citadel-MAGNUS é uma empresa líder em comunicação corporativa e financeira, com escritórios em Sydney e Perth, atendendo clientes em toda a Austrália e internacionalmente.

Estabelecemos a reputação de entregar resultados excepcionais para nossos clientes por meio de relacionamentos confiáveis, integridade e excelência profissional. Nossa prioridade é apoiar os objetivos de negócios de nossos clientes por meio de uma comunicação eficaz e um nível superior de serviço.

A Citadel-MAGNUS traz uma profundidade incomparável de mercados financeiros, experiência corporativa e de mídia para ajudar as empresas a resolver os desafios atuais de um ambiente de negócios altamente competitivo e em constante mudança. Trabalhamos com empresas de todos os setores e de todos os portes, e nosso sucesso levou a parcerias estabelecidas e de longo prazo com líderes empresariais e empresas.

Para mais informações, acesse www.citadelmagnus.com.

CONTATO:

Elena Cargnello

Diretora Corporativa, Marketing

e.cargnello@morrowsodali.com

+44 (0)20 4513 6913

GlobeNewswire Distribution ID 1000755852

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COP27: Commitments made at Climate Change Conference must be honoured, says South African Pres Ramaphosa

SHARM EL SHEIKH (Egypt)— South African President Cyril Ramaphosa has told world leaders at the United Nations climate talks that commitments made during climate change negotiations must be honoured.

Delivering the country statement on Tuesday, the President said Africa needs to build adaptive capacity, foster resilience and address loss and damage, as agreed at Paris COP 21.

The two-day Climate Implementation Summit attended by world leaders, kicked off the 27th United Nations climate change conference (COP27). The conference is hosted by Egypt, which holds the COP27 presidency.

To achieve this, he said, the African continent will need a predictable, appropriate and at-scale funding stream and technological support.

This must support the continent’s right to development, international equity and transitions that are just and inclusive, said Ramaphosa.

“This places a great responsibility on developed economies to honour their commitments to those countries with the greatest need and that confront the greatest environmental, social and economic effects of climate change.

“The commitments that were made must be honoured because failing to honor these commitments, breaks, trust and confidence in the process,” the President said.

Ramaphosa called for multilateral development banks to be reformed in order to meet the needs of developing economies for sustainable development and climate resilience.

He emphasised that a clear roadmap is needed to deliver on the Glasgow decision to double adaptation financing by 2025.

“At present, multilateral support is out of reach of the majority of the world’s population due to lending policies that are risk averse and carry onerous costs and conditionalities. Our emphasis must be on the health, well-being and food and water security of the most vulnerable.

“At a national level, South Africa is fully committed to achieving the most ambitious end of the mitigation range in our updated Nationally Determined Contribution,” the President said.

Ramaphosa highlighted that South Africa is guided by a Just Transition Framework and an Investment Plan that outlines the enormous scale and nature of investments needed to achieve its decarbonisation goals over the next five years.

“We are already scaling up investment in renewable energy, and are on course to retire several of our ageing coal-fired power plants by the end of 2030,” the President said.

Referring to the COP 26 held in Glasgow last year, the President said that France, Germany, the United Kingdom, the United States and the European Union offered support in the form of a Just Energy Transition Partnership.

“It is our hope that this partnership will offer a ground-breaking approach to funding by developed countries for the ambitious but necessary mitigation and adaptation goals of developing countries.

“South Africa reiterates its support for the Egyptian Presidency and its confidence in the successful outcomes of COP 27,” President Ramaphosa said.

Source: NAM NEWS NETWORK

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South African Pres Ramaphosa arrives in Kenya ahead of talks with Ruto

NAAIROBI— South African President, Cyril Ramaphosa has arrived in the country for a two-day official visit.

During the visit, he will hold talks with his host President William Ruto aimed at further strengthening bilateral relations.

Ramaphosa was received at the Jomo Kenyatta International Airport by Foreign affairs Cabinet Secretary Alfred Mutua and Mining Cabinet Secretary Salim Mvurya.

Kenya and South Africa in 2021 signed eight Memoranda of Understanding that seek to enhance and broaden bilateral relations, trade and investments between the two countries.

The signing ceremony was presided over by the former President of Kenya Uhuru Kenyatta and President Ramaphosa during Kenyatta’s State Visit to South Africa on Nov 22-24, 2021.

The agreements were an outcome of discussions reached during the Joint Commission of Cooperation (JCC) held in Nairobi in August 2021 which reviewed the status of bilateral relations; put in place mechanisms for enhancing the relations, and undertook negotiations on bilateral instruments for cooperation.

The agreements signed included: a Memorandum of Understanding between the Government of the Republic of Kenya and the Government of the Republic of South Africa on the Establishment of Diplomatic Consultations which establish and set guidelines for conducting diplomatic consultations on bilateral, regional and international issues of mutual interest, and MOU on Diplomatic Training, establishing a framework for the development of cooperation activities on foreign policy research and analysis, training of diplomatic personnel and exchange of information and publications between the Parties.

The former CS Amb Raychelle Omamo and Foreign Minister in the Department of International Relations and Cooperation Dr Naledi Pandor also signed two MOUs on behalf of their respective countries.

Other instruments that were signed were the Agreement on Migrants Matters, Return of Nationals Refused Entry and Illegal Entrants; Health; Bilateral Air Services Agreement (BASA); MOU on Transport Related Matters; and Tourism.  The two leaders directed the respective ministers to ensure the implementation of Agreements and MOUs.

The two leaders also witnessed the signing of the Strategic Partnership Framework between South African Airways SOC and Kenya Airways PLC during the Business Forum that details the roadmap leading to the creation of a Pan Africa Airline Group by the Parties.

Source: NAM NEWS NETWORK

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Deputy President David Mabuza engages with Western Cape Military Veterans associations, 10 Nov

Deputy President David Mabuza, in his capacity as the Chairperson of the Presidential Task Team on Military Veterans, will tomorrow, Thursday, 10 November 2022, visit the Western Cape Province in Cape Town, to hold engagements with Military Veterans associations.

Since its establishment, the Task Team on Military Veterans has been seized with the task of facilitating the delivery of services and coordinating activities aimed  at recognising the contribution by Military Veterans to the attainment of freedom in South Africa. 
 
In this regard, the Task Team  working together with provincial governments, has established a framework for the implementation of the national policy and standards governing Military Veterans’ affairs to improve the quality of life of Military Veterans and their dependants.
 
The visit by the Deputy President, will therefore provide a platform for the Task Team to provide updates on progress achieved in facilitating access for the roll-out of services and benefits to Military Veterans and their dependents, such as; Military pension; housing; access to healthcare services; skills acquisition and education support; burial support and counselling, amongst others.
 
Deputy President Mabuza will be joined by the Minister of Defence and Military Veterans, Ms Thandi Modise, the Deputy Minister of Defence and Military Veterans, Mr. Thabang Makwetla together with senior government officials.

Source: Government of South Africa

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Parliament hosts oral questions session with Governance Cluster Ministers, 9 Nov

Tomorrow, Wednesday 9 November, at 15.00, the National Assembly (NA) will hold an oral questions session with the four Governance Cluster Ministers at its hybrid plenary sitting.

The cluster comprises Ministers responsible for Co-operative Governance and Traditional Affairs; Ministry in the Presidency; Public Service and Administration, and Women, Youth and Persons with Disabilities.

Parliament uses a range of instruments to scrutinise and oversee executive action. Section 92(2) of the Constitution also stipulates that Cabinet Members are accountable collectively and individually to Parliament for the exercise of their powers and performance of their functions.

Details of the NA hybrid sitting are as follows:

Date: Wednesday, 9 November 2022

Time: 15h00

Venue: Good Hope Chamber at Parliament and virtual platform

Meanwhile, the National Council of Province (NCOP) at 14.00 will consider the Reports of the Select Committee on Appropriations on the following:

Expenditure and performance of the Early Childhood

Development Grant as at the end of the Fourth Quarter of the 2021/22 Financial Year

Expenditure and performance of the Informal Settlements

Upgrading Partnership Grant for provinces in the First Quarter of the 2022/23 Financial year

Expenditure and performance of the Land Care Programme Grant

Fourth Quarter of the 2021/22 Financial Year and the First Quarter of the 2022/23 Financial Year

Consideration of the Select Committee on Finance Report on the Revised Fiscal Framework and Revenue Proposals.

The NCOP will end their business for the day with a debate on Cross Border and Transnational Crime under the theme: “Waging a concerted battle against Cross Border and Transnational Crime” .

Details of the NCOP Hybrid sitting are as follows:

Date: Wednesday, 9 November 2022

Time: 14h00

Venue: NCOP Chamber and virtual platform

Note to media

Media wishing to physically attend Parliament’s Hybrid Sittings should send their details (full name, name of media house, ID or passport number) to Mr Mlindi Mpindi at mmpindi@parliament.gov.za(link sends e-mail).

Members of the media who wish to observe the Parliament sittings on a virtual platform should forward their contact details to Mr Mlindi Mpindi at mmpindi@parliament.gov.za(link sends e-mail) for inclusion in the Parliament Communications Service WhatsApp group, where login details will be shared. Journalists must forward their requests using their official email addresses (no private emails).

Members of the public may follow the proceedings live on Parliament TV (DSTV Channel 408), via the live stream on Parliament’s YouTube channel, Facebook and Twitter pages. Please see the links below.

Source: Government of South Africa