Friday 28 June 2013

[wanabidii] Press Release: ANC WELCOMES PRESIDENT OBAMA

For immediate release
28 June 2013

The African National Congress warmly welcomes the President of the United
States of America, His Excellency Barack Obama, on his first state visit to
South Africa.

The people of the United States, despite the stance of their government at
the time of our struggle, played a pivotal role in the fight against
apartheid and in assisting South Africans secure their freedom from the
tyranny of minority rule. Progressive organisations including amongst them
the Rainbow Push Foundation, the Free South Africa Movement, TransAfrica
Forum, the Black Congregational Caucus, Artists for a Free South Africa and
many others were at the forefront of the anti-apartheid struggle. Indeed,
the ANC believes that this visit by President Obama reignites and cements
the close and fraternal relations the ANC and the people of South Africa
have enjoyed with progressive people of the United States of America.

Building on this shared past, South Africa today enjoys robust and growing
trade relations with the United States, particularly in relation to Foreign
Direct Investment and Trade. Our country has significant exposure to US
markets as a consequence of the Africa Growth and Opportunities Act (AGOA)
that allows for a range of South African products to reach American markets.

 While AGOA has yielded substantial returns for South Africa, with our
country being the 3rd biggest beneficiary of this legislation on the
continent, the African National Congress supports the call for the range of
products to be expanded to include agricultural and other products. It is
our belief that this visit by President Obama will provide an opportunity
to engage on the expansion of AGOA as a framework, the product ranges and
its period of applicability.

 In keeping with our constitutionally protected right to protest, the
African National Congress respects the rights of those who wish to protest
against the visit by the President of the US. It is our wish that the
protests will themselves be carried out in a manner that reciprocally
respects the rights of others who do not share the same view.

 As we welcome President Obama and his family to South Africa, we also
thank them for their kind words in Ghana that our beloved icon and
statesman, Comrade Nelson Mandela, who remains in a critical condition in
hospital, is a hero of the world. We thank them too for their prayers and
thoughts as we thank all other peoples of the globe who continue to keep
Madiba in their thoughts during this time. There is no doubt in our minds
that the very first African American President of the United States of
America will enjoy his stay in sunny South Africa.

Issued by
Jackson Mthembu
National Spokesperson
African National Congress

On Fri, Jun 28, 2013 at 9:48 AM, News Release - African Press Organization (APO) <no-reply@apo-opa.com> wrote:

If you cannot read that message, click here.

 

PRESS RELEASE

 

Business leader calls for rules of engagement with Africa to change

 

Elumelu says Africa open for business, but not at any cost

 

LAGOS, Nigeria, June 28, 2013/ -- On the eve of his departure to Dar es Salaam, Tanzania, as part of a delegation of high profile African business leaders handpicked by the White House to meet with President Obama, Tony O. Elumelu, chairman of one of the most diversified investment groups in Africa, reiterated his message for the United States and international investors to engage proactively with Africa's private sector to develop the continent.

 

Photo Tony Elumelu: http://www.photos.apo-opa.com/plog-content/images/apo/photos/tony-elumelu.jpg

 

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/heirs-holdings.jpg

 

In a wide ranging interview (available for download at AllAfrica.com), Elumelu talked about the rules of engagement for Africa having changed and that those looking to invest on the continent should consider aligning with an economic philosophy he called Africapitalism. The concept seems to be gaining momentum on the continent and beyond - the UK Guardian newspaper yesterday ran a feature suggesting it could be the new model for Africa's development.

 

"Africa's economic history has been characterised by extractive industries and rent seeking practices that have not created development in any meaningful way. Africapitalism is simply saying there is a better and more ethical way to invest in Africa for a sustainable future. I would like to see both African and international investors review their strategies for Africa. Yes, we are open for business but not at any cost. Our rules of engagement have changed," said Elumelu.

 

It is anticipated Elumelu will be part of a major announcement the US government will make about the power sector. Through Transcorp, one of Heirs Holdings investee companies, the group recently invested USD300 million in Nigeria's largest power plant, located in Ughelli, Delta State during the Nigerian government's recent power privatization process.

 

Commenting on the motivation behind the power investment, he said, "Unlimited access to affordable power in any country is a game changer and will move the needle on the country's development exponentially."

 

Elumelu continued, "It's not just the fact that children will be able to do their homework, or that computers and phones can be powered in rural villages; it is also the impact that access to affordable power will have on the economic ecosystem. Prices will come down, entrepreneurs will expand and innovate, and jobs will be created as a result. This is Africapitalism at work."

 

Other investments aside, Elumelu has been vocal about power, which has led many to speculate that Elumelu is looking to make a significant impact in this sector, much as he did in banking during his time as the Group CEO of UBA.

 

"We played a transformative role in democratizing the banking sector at a time when no one was really paying much attention to Africa, Elumelu says. "We had a clear strategy, first mover advantage and an understanding of what the market needed and we are focused on doing the same for power. We are taking over an old government-run plant that desperately needs rehabilitation and doubling its output within our first two years of operations. By 2017, we will be generating 1000MW of electricity and Nigerians across the country will feel the impact of affordable and consistent power."

 

Distributed by the African Press Organization on behalf of Heirs Holdings.

 

 

Download the full Tony O. Elumelu interview here at http://allafrica.com/stories/201306271650.html?viewall=1.

 

Read the UK Guardian article here: http://www.guardian.co.uk/global-development/2013/jun/26/africapitalism-african-self-empowerment

 

Media contact:

Moky Makura

Director, Marketing & Corporate Communications

Heirs Holdings

moky.makura@heirsholdings.com  

+234 1 277 4641-5

 

About Heirs Holdings

Heirs Holdings (http://www.heirsholdings.com) is a pan-African proprietary investment company that invests for the long term and creates value by growing new businesses, managing existing ones better and executing on corporate turnarounds. As active investors, we aim to transform the companies in which we invest, and grow them into businesses that last—creating value for our shareholders and partners, as well as economic prosperity and social wealth for the continent.  At heart, we are Africapitalists.

 

About Africapitalism

Mr Elumelu is the author and leading proponent of Africapitalism, the private sector's commitment to Africa's development through long term investment in strategic sectors of the economy that drive economic prosperity and social wealth on the continent. Download the Africapitalism whitepaper at http://www.heirsholdings.com

 

SOURCE 

Heirs Holdings

 

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