GutsyPen4ICTD: Telecommunications Regulator Reaffirms Commi...

GutsyPen4ICTD:




Telecommunications  Regulator Reaffirms Commi...: Telecommunications  Regulator Reaffirms Commitment To High Leadership And Management Standards …Puts Code of Corporate Governan...

Telecommunications  Regulator Reaffirms Commitment To High Leadership And Management Standards

…Puts Code of Corporate Governance In Active Mode

The total or near absence of good corporate governance practices in the telecommunications industry in Nigeria prompted the Nigerian Communications Commission (NCC), pursuant to its consultative regulatory stance, to come up with the Code of Corporate Governance For The Telecommunications Industry in 2014.  Three years down the road, has the code enthroned a culture of good corporate governance practice in the industry?

Investigations by GutsyPen4ICTD  revealed not a few analysts agree that ‘NO’ is the ideal answer to give under the circumstance.  So, in a bold strategic move to walk its talk on high corporate governance principles in the Nigerian telecommunications industry, and stave off descent of telcos into oblivion, the NCC has reaffirmed its commitment to seeing that the highest standards in leadership and management is maintained within the sector.

Now, the regulator is saying time has come for all stakeholders to take the code seriously.

The Executive Vice Chairman of the Commission, Professor Umar Garba Dambatta says the NCC under his watch is committed to raising the standards of leadership and management in the telecom sector.

Professor  Danbatta, speaking at The Renaissance Hotel Lagos, venue of the Stakeholders Sensitization Workshop on the provisions of the Code, recently said the critical place of telecommunication to all spheres of the national life demands that "we raise the standards of leadership and management in the sector to sustain the sector's role as a driver of economic growth."

Professor Dambatta’s confidence in the renewed confidence of his agency to implement the code of corporate governance in the sector, was buoyed by the physical presence and participation of the Chairman of NCC Board of Commissioners, Senator Olabiyi Durojaiye; the Executive Commissioner Stakeholder Management, Sunday Dare; other top management staff of NCC; representatives of Mobile Network Operators; and a broad spectrum of other telecom stakeholders.

The code, had earlier been presented to stakeholders in 2016 at an inclusive forum, as an instrument which provisions are mandatory, but the apparent lethargy to observe and entrench  the code, may have excited the commission  to once more put the code enforcement on active mode. By so doing, the NCC is communicating boldly to all sector players it will not tolerate observing the code in the breach, going forward.

Analysts believe by these provisions, the Code has become part of the extant regulatory instruments guiding telecommunications operation in Nigeria.

The code stipulates, among other things, that the Board of Directors is responsible for the governance of the company.  The Board should ensure that a culture of ethical behavior and right doing permeates the company.

To create room for functional specificity, eliminate  fraud and reduce poor governance principles to the barest minimum, the Code stipulates  the offices of Chairman and the CEO shall not be occupied by one person concurrently in any telecom company in Nigeria. In addition, no one can serve as a director in any telecom company for more than 15 years.

In the perspective of the NCC, good corporate governance ensures proper incentives for the Board and Management to pursue objectives that are in the interests of the company and its shareholders and also facilitates effective monitoring.-GutsyPen4ICTD.

                                                                                         ###

                      

Day Around The Bay: Fired Google Engineer Fudged His Resume

BY JAY BARMANN 

The fired Google software engineer who wrote that lengthy diatribe about how women aren't biologically suited for tech stuff, James Damore, apparently had a PhD in Systems Biology on his LinkedIn page that he recently downgraded to a Masters. [Business Insider]

Relatedly, conservatives have latched on to his biology background to suggest he knows what he's talking about when it comes to women and their biological shortcomings. And so now he's a free-speech martyr. [American Conservative][Slate]

Also, Damore filed a charge with the National Labor Relations Board which means he may have a federal case in court. [Wired]

Woman's photos, memories of late father stolen from car in San Francisco. [ABC 7]

The SFPD and other agencies did a massive sweep in a Bayview housing project Tuesday, executing 30 search warrants, and so far they've refused to comment on the raid. [ABC 7]

A toddler was found wandering the street in San Jose alone early this morning, and the boy's guardian has now been located. [CBS 5][ABC 7]

A multi-story construction crane came crashing down on a home in Campbell. [CBS 5]

The SFPUC becomes first city department to set a policy for drone use. [Examiner]

Three 15-y-o female shoplifters were arrested in Union Square after pepper-spraying three individuals who tried to stop them at the door of a store. [Examiner]

Flying Magazine Bestows Innovation Award on HondaJet

Flying Magazine, the world's most widely read aviation magazine, has bestowed “Flying Innovation Award” on HondaJet in recognition of its breakthrough design and advanced technologies. The announcement was made during Flying’s event on the opening evening of 2017 EAA AirVenture Oshkosh.

“On behalf of the Honda Aircraft Company, I am incredibly honored to receive this prestigious award. We are proud that HondaJet has been recognized for its innovative design and advanced technologies by such a prestigious aviation industry publication,” said Honda Aircraft President & CEO Michimasa Fujino.

”Fitting the HondaJet won as it embodies innovation, the HondaJet shows what can transpire with hard work. Honda aircraft did an amazing job not only with the aircraft but also the manufacturing facilities. It's an incredible story.” said Flying Editor-in-Chief Stephen Pope.

Flying’s Innovation Award was created to recognize the most significant innovation in general aviation from the previous year. The HondaJet was chosen from among six nominees. HondaJet also received a 2016 Flying Editors’ Choice Award.

-http://world.honda.com/news/2017/c170726eng.html?r=m

GutsyPen4ICTD: Honda’s planned technological partnership with Saub...

GutsyPen4ICTD: Honda’s plannedtechnological partnership with Saub...: Honda’s planned technological partnership with Sauber Crumbles Honda Motor Co., Ltd. has announced the technological partnership with t...

Honda’s planned technological partnership with Sauber Crumbles

Honda Motor Co., Ltd. has announced the technological partnership with the Sauber F1 Team, which was intended to start from 2018 onwards for the Federation Internationale De L’automobile (FIA⁾ Formula One World Championship (F1), is no longer in place, GutsyPen4ICTD learns.

The project,  originated after an initial proposal from Sauber, has been called-off due to differences in the future direction between Honda and Sauber, which pecipitated during the preparation process for power unit supply systems.

General Manager, Motor Sports Division, at Honda Motor Co., Ltd. Masashi Yamamoto commented: “We had built a good relationship with Sauber, and had been looking forward to entering the 2018 F1 season together. However, during discussions after management changes at the team, we reached a mutual agreement to call-off the project due to differences in the future directions of both parties. We would like to thank Sauber for their cooperation, and wish them all the best for their future."

Despite this announcement, Honda says its passion for motorsports and strong commitment to Formula One remains unchanged.

GutsyPen4ICTD: ICTs may hold the ace in redefining the pro...

GutsyPen4ICTD:
ICTs may hold the ace in redefining the pro...: ICTs may hold the ace in redefining the property market in Africa Property market investors in Africa ar...

GutsyPen4ICTD: Kamar Abass Quits Asntel bossKamar Abass, the Ma...

GutsyPen4ICTD:
Kamar Abass Quits Asntel boss
Kamar Abass, the Ma...: Kamar Abass Quits As ntel boss Kamar Abass, the Managing Director/Chief Executive Officer of NATCOM trading as ntel, which prides its...

Kamar Abass Quits As ntel boss

Kamar Abass, the Managing Director/Chief Executive Officer of NATCOM trading as ntel, which prides itself as Nigeria’s first 4G/LTE-Advanced network,  has quit his job for personal and health reasons, GutsyPen4ICTD has learnt.  In his place, ntel has appointed the Chief Finance Officer, Abhulime Ehiagwina, as the acting CEO.  Ehiagwina will be on the saddle until a substantive CEO is found.

Director, External Affairs of the company  Osondu C. Nwokoro confirmed this in a statement seen by us. The statement said “Mr. Abass has stepped down from his role as CEO due to urgent personal and medical considerations….”

No clarification was provided on what personal and health conditions for Abass represented and whether these were enough reasons to warrant his resignation.

Kamar Abass joined the Board of Directors of NatCom in 2015 as the CEO of ntel and led the company through launch on April 8, 2016 with operations in Lagos and Abuja and then subsequently in Port Harcourt by December 2016.

Abhulime Ehiagwina, has a BSc Accounting degree from the Obafemi Awolowo University, an MBA from the University of Lagos and an Advanced Management & Leadership Programme (AMP) certificate from the Said Business School, Oxford University, UK.

Before joining ntel as CFO, Abhulime was CFO & Board member of Helios Towers Nigeria where he oversaw the Finance and IT functions. He helped grow the Company EBITDA by over 300 per cent in 3 years and raised a $250m Eurobond, first non-bank or Oil/Gas Company out of Nigeria. He also sat on the board of Interswitch as a non-Executive Director during this period. He has over 25 years financial management experience.

The company assures its stakeholders that it remains committed to existing obligations and will honour same, adding  the leadership transition will be smooth and orderly with no impact on its operations.

                                                                                    ###

ICTs may hold the ace in redefining the property market in Africa

Property market investors in Africa are realizing  that a more measured approach may hold the key to reaping long term rewards in Africa, with the continental real estate narrative shifting and evolving over the past 2 years, following the impact of geo-political and economic challenges affecting the property landscape, and information and communication technologies (ICTs) are proving to be a critical component of the strategy to change the narrative, GutsyPen4ICTD learns. API Events is hosting the 8th annual API Summit & Expo in Johannesburg on August 24th and 25th, 2017, in order to address this new reality. Key themes and trends (validating the critical role of ICTs) up for discussion at this year’s summit will include: ·  Trumpenomics, Brexit, African elections and their effects on African real estate; ·  New debt: the emergence of non-bank lenders and new sources of debt financing; ·  Will local governments and public sector step up in the drive to make housing more affordable and accessible? ·  How are Zambia, Kenya and Ghana leading Africa’s logistics sector rise? ·  The move towards convenience retail or are mixed-use developments the answer to a successful African retail sector? ·  Overcoming the overcrowding issue: how can African cities become more economically dense — not merely crowded? ·  Green-building in Africa: uncovering the return on investment; ·  Healthcare facilities and serviced apartments as lucrative new asset classes? ·  The rise and rise of collaborative offices and its effect on Africa’s commercial real estate sector ; ·  Local institutional and pension fund capital fuelling African real estate; ·  How will innovative technologies impact the way we design, build and operate real estate in Africa? Cameroon: Africa’s new hotspot. The 2017 API Summit and Expo promises to delve in-depth into each of these topics, and more, with participation from over 35 countries, 600 delegates and 250 companies, providing insights, thought-leadership and solution-focused tools. “Africa is facing a new reality, but what does this mean for investors and developers looking to expand their growth and uncover new opportunities? Not only do we need to better understand this new reality, but also how best to approach it, realigning development strategies and investment models, all the while working together with new players in order to continue to develop and enhance Africa’s future property market,” says API Events Managing Director, Kfir Rusin. Alongside this new era for the African continent comes a divergence in growth paths for two groups of economies. On one side we have Africa’s oil exporters, who have experienced sharp declines in growth, while Africa’s more diversified economies have continued to accelerate their GDP expansion. Despite these differing growth patterns from an economic point of view, the shift in real estate capital flows have yet to fully move over to East Africa, with long term investors still seeing the likes of Nigeria as a key market. These changing fortunes, together with strict central bank regulations within individual countries, and the volatility of local currencies against the US dollar, have, however, made real estate funding a lot more complex. “With modest recovery expected in sub-Saharan Africa (SSA) economies, prospects for improved real estate funding would increase where there are strong domestic governance policies and strong risk management practices. Attracting capital flows into SSA depends on the ability of individual nations to improve sovereign risk and growth prospects”, said Barclays Africa’s Head of Commercial Property Finance, Klaus-Dieter Kaempfer. The geography of opportunity within Africa has also evolved with French-speaking West Africa, particularly Ivory Coast, Senegal and Cameroon piquing new interest from an investment point of view, while East Africa continues to lead as Africa’s most stable frontier. In this regard, companies like Mara Delta continue to focus on the long term fundamentals rather than short term volatilities, as seen with their own sustained and increased investments into countries such as Mozambique and Zambia over the last 2 years. Chief Executive of Mara Delta Bronwyn Corbett commented: “In addition to taking a view on political and currency risk, key considerations for us are the ability to conduct business in hard currency, the repatriation of funds, land tenure and the ability to raise debt. Based on these considerations, we have identified Uganda, Rwanda, Tanzania, Botswana and Ghana as potential territories for expansion. Our nodal expansion in-country depends on tenant demand, as you need some level of concentration in an area or region to make it economically viable.” Looking ahead, there will be a definite shift in terms of sectors of interest and asset sizes. The office market has suffered a steady decline across the continent, while the retail sector is expected to continue to move towards convenience retail and smaller, more tailored retail centres across Sub-Saharan African cities. Divisional Director for Research at Broll Property Group Elaine Wilson says: “Some investors are getting wary of investing in the continent because of currency volatility especially in the retail sector due to dollar based rentals. East Africa is seeing an increase in formal retail space, however, financially strained consumers will still frequent informal traditional markets.” On the other side of the spectrum, the demand for bigger and better warehousing space has increased significantly, with mega distribution warehouse projects kicking off in cities like Lusaka, Nairobi and Tema. In terms of infrastructure on the continent, LAPPSETT, West African rail network and The Grand Ethiopian Renaissance Dam are expected to further influence the direction of Africa’s future going forward, boasting huge potential in unearthing new real estate opportunities across the continent in the current year.  “Our understanding of Africa has changed over the last decade, and developers and investors alike are now ready to take a more measured approach to the continent, with a specific focus on attaining sustainable growth in the years to come. With this new understanding in mind, it has become vital for all industry players to come together, to learn from their peers, share their own on-the-ground experiences and forge new avenues for real estate growth in Africa,” Rusin says.