Oil price affecting political risk in key African states

Oil price affecting political risk in key African states

Oil price affecting political risk in key African states

Political events can have a significant influence on the price of oil, but the price of oil also has a strong influence on political events. In 2016, the latter was in full force, with enormous geopolitical consequences from the downturn in the price of oil, according to a new report from Marsh. Its 2017 Oil and Gas Risk Reward Index…

Nigerian government settles Naicom, PenCom feud over annuities

Nigerian government settles Naicom, PenCom feud over annuities

Nigerian government settles Naicom, PenCom feud over annuities

The Nigerian government has settled the lingering feud between the National Insurance Commission (Naicom) and National Pension Commission (PenCom) on the administration of annuity assets in the country. Both agencies argue that life insurance firms and pension fund custodians have the legal mandate to warehouse and administer annuity assets in Nigeria respectively. To resolve the face-off, the Minister of Finance,…

Allianz named International Corporation of the Year in Africa

Allianz named International Corporation of the Year in Africa

Allianz named International Corporation of the Year in Africa

Insurer Allianz has received the ‘International Corporation of the Year’ award at the 5th annual Africa CEO Forum, held in Geneva. Coenraad Vrolijk, regional CEO Africa at Allianz, said: “We are so honoured that Allianz’s commitment to Africa has been recognised with this award. Allianz has been in Africa for 105 years.” He added: “We invest in Africa and in…

Senior management views talent scarcity as serious risk

Senior management views talent scarcity as serious risk

Senior management views talent scarcity as serious risk

Organisations are facing up to the realities of shifting demographics and new technology in terms of accessing the right talent, with senior management viewing talent scarcity more acutely than HR professionals. The 2017 Global Talent Trends Study from Mercer states: “As the competition for talent continues to rise and business models are disrupted by technology and socio-demographic shifts, organisations are…

Nigerian insurer sees profits rise 16%

Nigerian insurer sees profits rise 16%

Nigerian insurer sees profits rise 16%

Guinea Insurance has reported a 16.5% increase in gross premium income to NGN1.01bn for the 2015 financial year, against NGN867.99m recorded in 2014, as its chairman promises greater profitability in future. Business Journal reported that the insurer’s profit before tax increased 226% to NGN47.0m as against NGN14.4m recorded in 2014. Loss for the year decreased by 91.2%, amounting to NGN7.2m,…

New partner for South African risk consultancy as ownership changes

New partner for South African risk consultancy as ownership changes

New partner for South African risk consultancy as ownership changes

CGF Research Institute has announced that Palmer Business Concepts (PBC) has bought 40% of the shares of the company and has appointed Jene’ Palmer, owner of PBC, as its chief financial officer. Ms Palmer is a chartered accountant (SA) who has not only garnered a wealth of experience in the corporate environment, but has also been a lead independent consultant…

More than 20,000 organisations join anti-slavery register

More than 20,000 organisations join anti-slavery register

More than 20,000 organisations join anti-slavery register

More than 20,000 organisations have joined Tiscreport.org, the open data registry committed to helping to end slavery within our lifetimes. The registry said organisations, from across the world, range broadly from leading retailers and manufacturers through all sectors to the regional parliaments. Between them they have an estimated combined turnover of more than £2.5trn. The UK’s Modern Slavery Act (MSA)…

South Sudan and Equatorial Guinea agree oil and gas deal

South Sudan and Equatorial Guinea agree oil and gas deal

South Sudan and Equatorial Guinea agree oil and gas deal

Providing new opportunities for those in the oil and gas sectors, South Sudan and Equatorial Guinea have agreed a new bilateral relationship between the African oil and gas producers. The memorandum of cooperation was signed by Equatorial Guinea’s Minister of Mines and Hydrocarbons, HE Gabriel Mbaga Obiang Lima and South Sudan’s Minister of Petroleum HE Ezekiel Lol Gatkuoth. They will…

Dangote becomes net exporter of cement as Nigerian government pushes for diversification

Dangote becomes net exporter of cement as Nigerian government pushes for diversification

Dangote becomes net exporter of cement as Nigerian government pushes for diversification

Nigeria has become self-sufficient in the production of cement and is now an exporter of the commodity, with the government ascribing the feat to Dangote Cement. Last month Dangote Cement group managing director Onne Van der Weijde had said the company was exporting cement to Nigeria’s neighbours. He said: “We exported nearly 0.4Mt into neighbouring countries and in doing so,…

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