Ellen Sirleaf Johnson, President of Liberia, and Donald Kaberuka, President of the African Development Bank Group (http://www.afdb.org/en ) will lead a special high-level panel on fragile states in Monrovia on 2 September 2013. The panel will seek to answer the question, “How can we truly build peace and set a course for prosperity in Africa's fragile states?”

Event's theme: “How can we truly build peace and set a course for prosperity in Africa's fragile states?”

Key speakers:

Ellen Sirleaf Johnson, President of Liberia; Donald Kaberuka, President of the African Development Bank Group; Paul Collier, author of The Bottom Billion and The Plundered Planet; Emilia Pires, Minister of Finance, The Democratic Republic of Timor-Leste; Jakkie Cilliers, Co-founder and Executive Director of the Institute of Security Studies and Vasu Gounden, founder and Executive Director of the African Centre for the Constructive Resolution of Disputes (ACCORD).

Date and Time: Monday, 2 September 2013. Opening ceremonies at 09:30

Location: Royal Hotel Conference Room, 15th Street, Tubman Boulevard, Monrovia.

Press information: Press briefing at 13:15. Interviews available upon request.

Members of the High Level Panel

Chair: Ellen Sirleaf Johnson; President of Liberia

Sarah Cliffe; Special Representative and Director of the World development Report on conflict, security and development, United Nations.

Gilbert Fossoun Houngbo: Deputy Director-General for field and partnerships, International Labour Office (ILO).

Geraldine Frasier-Moleketi: Special Envoy on Gender, African Development Bank.

Callisto Madavo: Professor, Georgetown University.

Greg Mills: Director of Brenthurst Foundation.

Rakiya Omaar: Director of African Rights.

Dame Barbara Stocking: Vice President of Steering Committee for humanitarian response.

Distributed by the African Press Organization on behalf of the African Development Bank (AfDB).

Agenda and further information available at:

http://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/high-level-panel-on-fragile-states/

Media contact: Lori Severens: : lori.severens@gmail.com or lori@coxsi.com

MasterCard, (http://www.mastercard.com) and the South African Social Security Agency (SASSA), (http://www.sassa.gov.za/) today announced that there are 10 million active SASSA Debit MasterCard cards in South Africa, following the introduction of the new biometric grant payment disbursement system that commenced in March 2012.

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This milestone marks the conclusion of the re-registration phase of the project, with social grant beneficiaries having received their new Debit MasterCard cards with biometric functionality, issued by Grindrod Bank, (http://www.grindrodbank.co.za) in association with SASSA and Net1 UEPS Technologies (Net1), (http://www.net1.com/).

Since March 2012, just under 22 million social grant beneficiaries (1) have re-registered onto the new system introduced by SASSA to minimise fraudulent grant applications and collections and reduce grant administration costs by distributing all grant payments electronically.

A crucial feature of the SASSA card's biometric functionality is that it positively identifies social grant recipients using unique identifiers such as fingerprints, voice and other personal information, which means that the SASSA cards cannot be used by any person other than the approved beneficiary to collect his/her grant.

“A key driver of the new system was to put stringent measures in place for SASSA to ensure that only qualifying grant recipients – those really in need – are authorised to receive one of seven grants that SASSA offers. Between April 2012 and June 2013, over 150,000 grants were cancelled, which has led to a saving of R150 million (about US$15.1 million) per annum,” explained Virginia Petersen CEO, SASSA.

By simply moving all grant payments from largely cash payments, which were costly, cumbersome and riddled with inefficiencies, to electronic payments, the new system has already saved SASSA a considerable amount in grant administration costs. Before March 2012, it cost SASSA on average R33 (US$3.33) per grant to pay beneficiaries. Under the new system, disbursement costs have been capped at R16.44 (US$1.66) per payment.

To mark the occasion, Ann Cairns, (http://bit.ly/RJQ4c4) President of International Markets, MasterCard presented SASSA with a commemorative award to acknowledge SASSA's world-leading social grants payment programme on her visit to South Africa to celebrate the milestone achievement.

“By supporting the South African government in the implementation of a cost-effective electronic payments programme, we are helping them save money, improve efficiencies and prevent fraud,” said Cairns. “More importantly, we are opening up a world of financial inclusion to millions of South Africans who haven't previously had access to traditional financial services.”

Between March 2012 and July 2012, the SASSA Debit MasterCard card was cited as the main contributing factor to the 4% growth in the country's banked population from 63% in 2011, to 67% in 2012 according to the FinScope South Africa 2012 survey (http://bit.ly/14RKiG9). As at July 2012, 2.5 million SASSA MasterCard (http://bit.ly/P9F5S9) cards had been issued to grant recipients. Since then an additional 7.5 million cards have been issued to grant recipients which should further increase financial inclusion in South Africa.

“Millions of South Africans lack access to the most basic financial tools. They don't have secure places to save money or reliable means to transfer it and use it for transacting. Through the introduction of the SASSA Debit MasterCard card, nearly one fifth of the South African population, (http://www.statssa.gov.za/Publications/P03014/P030142011.pdf) now benefits from having a formal banking product, helping them build a stronger future for themselves, their families and their communities,” said Cairns.

As part of the SASSA re-registration process, each recipient has a bank account opened for them, which is offered free of monthly charges by Grindrod Bank. Recipients can deposit funds into their bank account via electronic funds transfer (EFT) or third party bank transfer.

The SASSA Debit MasterCard card can be used anywhere MasterCard cards are accepted, and grant recipients can make purchases, check their account balances and withdraw cash at till points without incurring transaction charges at selected South African retailers. Recipients can also withdraw cash at any ATM, which does however attract transaction charges.

“Ten million cards distributed to grant recipients in just 17 months is an outstanding achievement. What is more remarkable, however, is the impact that the SASSA Debit MasterCard card has had, and will continue to have, on the lives of the grant beneficiaries, and on the national economy in general,” said Cairns

“It is our goal to continue to introduce innovative payment solutions that help make transacting quicker, safer and more convenient for everyone, everywhere and whenever needed, and to realise MasterCard's vision of creating a world beyond cash,” she concluded.

(1) Multiple grant beneficiaries can be loaded onto a single SASSA Debit MasterCard card

Distributed by the African Press Organization on behalf of MasterCard Worldwide.

Contact:

For further information or media queries directed for the Department of Social Development or SASSA:

Ms Lumka Oliphant

+27 (0)83 484 8067

LumkaO@dsd.gov.za

For media queries directed for MasterCard:

Birgit Fawkes, Tribeca Public Relations

+27 (0)82 349 4894

Birgitf@tribecapr.co.za

About MasterCard

MasterCard (NYSE: MA), (www.mastercard.com), is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, (

https://twitter.com/MasterCardNews) join the discussion on the Cashless Conversations Blog (http://newsroom.mastercard.com/blog/) and subscribe, (http://newsroom.mastercard.com/subscribe/) for the latest news, (http://newsroom.mastercard.com/).

The Secretary-General was convinced that the election of a new President of the Republic will make a decisive contribution to the smooth implementation of the reconciliation and dialogue process initiated in Mali after a long period of politico-military crisis and will further galvanise the commitment of the international community for the reconstruction of Mali.

The Secretary-General addressed his most heartfelt congratulations to the President elect of the Republic of Mali, Mr. Ibrahim Boubacar Keïta, on his electoral victory and wished him success in the performance of his future functions.

The Secretary-General also commended the other presidential candidate, Mr. Soumaïla Cissé, for his brilliant and dynamic electoral campaign and for conceding victory to his opponent, as a proof of his commitment to republican and democratic values.

The Secretary-General also wishes to express his admiration for and appreciation to H.E. Mr. Dioncounda Traoré, Interim President of the Republic of Mali, for his courage, self-denial and successful conduct of the transition of his country to the benefit of the entire nation of Mali, more particularly the exemplarity of the elections that requires special mention due to the tight deadlines to be met and the conditions in which they were held.

The Secretary-General finally paid homage to the public-spiritedness of the people of Mali for overcoming the various traumatic upheavals caused by the recent politico-military crisis in order to take up their responsibilités by choosing a leader to preside over the destinies of the Malian nation for the years ahead.

The Secretary-General of the ACP Group hopes that this Presidential election will mark the rebirth of a proud, united and prosperous Mali.

The workshop was officially opened by the Minister of State for Foreign Affairs and Regional Cooperation of the Republic of Uganda, Honorable Asuman Kiyingi who noted that IHL is a fundamental instrument in the day to day running of the national and International Affairs for a country like Somalia that is emerging from a long spell of armed conflicts. He said; “… it is incumbent upon you to borrow a leaf from countries like Uganda, Burundi, South Africa, among others to ensure discipline, reconciliation, unity in diversity in order to build a prosperous, secure and self-sustaining Somalia.”

Representing the Federal Government of Somalia, Colonel Ali Amer said it was important for such training programmes in IHL and HR to include all commanding officers and key personnel of the Somali National Army. The workshop which has drawn experts and other high ranking officials from the African Union Commission, United Nations, and the International Committee of the Red Cross and Red Crescent Society (ICRC) among others is the second of such initiatives by AMISOM after a similar event was conducted in Djibouti towards the end of last year for senior officers of the Somali National Army.

In the opening remarks read on her behalf, the AU Commissioner for Political Affairs, Dr. Aisha Abdullahi observed that the 1949 Geneva Conventions and the 1977 additional protocols remain important tools for the protection of civilians, as they clearly stipulate the rules of engagement in a situation of armed conflict. “I hope this training will provide us with a way forward on how we can use IHL and other relevant regional and international legal instruments such as the ones on human rights in enhancing the protection of such vulnerable persons.” She Said.

The Special Representative of the Chairperson of the African Union Commission (SRCC) for Somalia, Ambassador Mahamat Saleh Annadif commended the Somali National Army for the security gains in the country especially driving out Al-Shabaab terrorists from key towns. He encouraged the officers to build on the Somali customs and norms to better respect IHL and HR.

The training will enhance Somali National Army Officers' understanding of the basic rules regulating the conduct of hostilities in Somalia. It will also lead to the adoption of a forward looking strategy and action plan to ensure compliance with IHL by SNA and respect for other relevant norms.

• Express company estimates that 60% of IT hardware growth in 2013 will come from tablets and smartphones

• “Technology companies who locate themselves in Africa will spend significantly less on logistics” – Brewer

Competition within the technology sector is becoming more intense and Asia's importance as both a manufacturing location and a consumer market is growing. However, although Asia is still key to the sector, Africa has also witnessed an explosion in technology adoption recently and is set to develop as a region.

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This is according to Charles Brewer, Managing Director for DHL Express Sub-Saharan Africa (http://www.dhl.com), who says that a recent DHL global technology conference revealed these trends around the changing dynamics of the technology market.

He says that due to the increased competition within the sector, suppliers need to adapt and improve products and services in order to retain and grow market share. “This presents an opportunity for suppliers to be innovative and provide consumers with the best possible products, services and prices.

“Both of these trends also promise to amplify the role of logistics as a competitive differentiator in the technology industry, notably as global companies are looking for strong and established partners to support and simplify access to the African market.”

Brewer says that within Africa, although there has been a significant rise in demand for electronic consumer products, the continent is still in need of increased investment from international technology companies, in order to become more than just an end-user for technology products.

He says that more than any other industry, the technology sector is driven by constant innovation, short product cycles and new sales channels. “From a logistics perspective this is a great challenge, but it also provides forward-thinking brands with an opportunity.”

Brewer says that by setting up shop in Africa, these brands are able to service this growing market and spend significantly less on logistics costs as they are based in much closer proximity to their customers.

According to a recent report by Deloitte entitled The Rise and Rise of the African Middle Class, the continent has a disproportionately young population with 62% of the population in Africa under 25 years. “This is positive from an outside investment perspective, as it effectively means that there is a guaranteed customer base for years to come when compared to a territory such as Europe, which has a shrinking population.”

The Deloitte report also forecasts that if the African middle class continues on its current growth trajectory Africa's middle class will grow to 1.1 billion (42% of the continent's population) by 2060.

The trend of mobile devices preferred over PCs as the access tool for the internet was also highlighted at the conference. Florence Noblot, DHL's Technology Sector Head for Europe, Middle East and Africa, estimates that 60% of all IT hardware growth will come from tablets and smartphones this year. “Both devices also elevate a trend towards high innovation cycles, which demands logistics providers to improve time to market while supporting competitive price positioning.

“This trend is also clear in Africa, and according to the GSMA, Africa is now the world's second largest mobile market by connections after Asia and the fastest growing mobile market in the world.”

He says that an overall trend towards simplified and lighter products, combined with price pressure, is challenging manufacturers, their suppliers, and sometimes even their competitors to develop collaborative solutions that improve the cost efficiency of the technology supply chain.

“Due to the expected economic growth, technology suppliers have the ideal opportunity to penetrate the African market, but should have experienced partners who are able to provide insight and have experience operating on the continent,” concludes Noblot.

Distributed by the African Press Organization on behalf of Deutsche Post DHL.

Media Contact:

Lee Nelson. Senior Manager, Marketing & Communications, Sub-Saharan Africa

Tel +27 21 409 3600 Mobile +27 72 361 0178

lee.nelson@dhl.com

DHL – The Logistics company for the world

DHL is the global market leader in the logistics industry and “The Logistics company for the world”. DHL commits its expertise in international express, air and ocean freight, road and rail transportation, contract logistics and international mail services to its customers. A global network composed of more than 220 countries and territories and about 285,000 employees worldwide offers customers superior service quality and local knowledge to satisfy their supply chain requirements. DHL accepts its social responsibility by supporting environmental protection, disaster management and education.

DHL is part of Deutsche Post DHL. The Group generated revenue of more than 55 billion euros in 2012.

• A empresa de transporte expresso prevê que um crescimento de 60% em hardware de TI venha a ter origem nos tablets e smartphones

• “As empresas de tecnologia que se estabeleçam em África gastarão significativamente menos em logística” – Brewer

Cidade do Cabo, 12 de agosto de 2013: A concorrência no setor da tecnologia está cada vez mais intensa e a a importância da Ásia tanto na qualidade de local de fabrico como na qualidade de mercado de consumo está a crescer. No entanto, apesar da Ásia continua a ser uma região chave no setor, África também tem registado recentemente uma explosão da adoção da tecnologia e deverá desenvolver-se enquanto região.

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Esta é a opinião de Charles Brewer, Diretor Executivo da DHL Express para a África Subsariana (http://www.dhl.com), que afirma que uma recente conferência de tecnologia global da DHL revelou estas tendências em torno da dinâmica de mudança do mercado das tecnologias.

Brewer afirma que, devido ao aumento da concorrência no setor, os fornecedores têm de se adaptar e melhorar os produtos e serviços para conseguirem reter e aumentar a sua quota de mercado. “Esta situação apresenta uma oportunidade para que os fornecedores sejam inovadores e facultem aos consumidores os melhores produtos, serviços e preços possíveis.

“Ambas as tendências também prometem ampliar a função da logística como um diferenciador competitivo no setor da tecnologia, especialmente na medida em que as empresas globais procuram parceiros sólidos e bem estabelecidos para apoiar e simplificar o acesso ao mercado africano.”

Afirma Brewer que em África, embora se tenha registado um aumento significativo na procura de produtos eletrónicos de grande consumo, o continente ainda carece de um maior investimento por parte das empresas de tecnologia internacionais para que seja mais do que um mero utilizador final dos produtos tecnológicos.

Afirma também que mais do que em qualquer outro setor, a tecnologia é impulsionada pela constante inovação, ciclos curtos dos produtos e novos canais de vendas. “Da perspetiva da logística, este é um grande desafio, mas também oferece uma oportunidade às marcas mais vanguardistas.”

Brewer afirma que ao estabelecerem-se em África, estas marcas têm capacidade para servir um mercado em crescimento e gastar significativamente menos em custos com logística, uma vez que estão muito mais próximas dos seus clientes.

Segundo um relatório recente da Deloitte com o título The Rise and Rise of the African Middle Class (Ascensão e ascensão da classe média africana), o continente tem uma população desproporcionadamente jovem, onde 62% da população africana tem menos de 25 anos. “Este é um fator positivo a partir de uma perspetiva de investimento externo, uma vez que implica efetivamente que existe uma base de clientes garantida para os anos vindouros em comparação com outros territórios como a Europa, assolada pelo envelhecimento da população.”

O relatório da Deloitte também prevê que a classe média africana continue na sua atual trajetória de crescimento, atingindo o número de 1,1 mil milhões (42% da população do continente) em 2060.

A tendência para a preferência dos dispositivos móveis em relação aos computadores como ferramenta de acesso à Internet também foi realçada na conferência. Florence Noblot, Chefe do Setor de Tecnologia para a Europa, Médio Oriente e África da DHL, prevê que 60% de todo o crescimento de hardware de TI este ano tenha origem nos tablets e smartphones. “Ambos os dispositivos também elevam uma tendência na direção de ciclos de inovação elevados, o que exige que os fornecedores de logística melhorem os seus tempos para a colocação no mercado, apoiando simultaneamente um posicionamento de preços competitivos.

“Esta tendência também é evidente em África e, de acordo com a GSMA, África é já o segundo maior mercado de comunicações móveis por ligações a seguir à Ásia e o mercado de comunicações móveis de maior crescimento no mundo.”

Noblot afirma também que uma tendência geral para produtos simplificados e mais leves, aliada à pressão dos preços, está a desafiar os fabricantes, os seus fornecedores e até mesmo os concorrentes a desenvolverem soluções de colaboração que melhorem a rentabilidade da cadeia de fornecimento de tecnologias.

“Devido ao crescimento económico previsto, os fornecedores de tecnologia têm a oportunidade ideal para penetrar no mercado africano, mas devem ser parceiros experientes com capacidade para fornecer conhecimentos e experiência operacional ao continente”, conclui Noblot.

Distribuído por African Press Organization por Deutsche Post DHL.

Contactos para a comunicação social:

Lee Nelson. Chefe do Departamento de Marketing e Comunicação, África Subsariana

N.º de tel.: +27 21 409 3600 Telemóvel: +27 72 361 0178

lee.nelson@dhl.com

DHL – A empresa de logística para o mundo

A DHL é líder de mercado global na indústria da logística e “A empresa de logística para o mundo”. A DHL dedica os seus conhecimentos de especialidade em transporte expresso, aéreo e marítimo internacional, transporte rodoviário e ferroviário, logística de contratos e serviços de correio postal internacionais aos seus clientes. Uma rede global composta por mais de 220 países e territórios e cerca de 285 mil funcionários em todo o mundo oferecem uma qualidade de serviço superior e conhecimentos locais para responder às suas necessidades de cadeia de fornecimento. A DHL aceita a sua responsabilidade social apoiando a proteção do meio ambiente, gestão de catástrofes e educação.

A DHL faz parte da Deutsche Post DHL. O Grupo gerou receitas superiores a 55 mil milhões de euros em 2012.

�I am extremely concerned that the MDC-T had to withdraw its legal challenge due to concerns over the independence of the judiciary. I strongly believe that an independent investigation of any allegations of election irregularities would be required for the election result to be deemed credible.

�As I have set out previously, I have grave concerns over the conduct of the election, and the flaws highlighted in the South African Development Community (SADC) and African Union (AU) observation missions� initial assessments. These included the failure to produce the voters roll, the large number of voters who were turned away on Election Day, the very high numbers of extra ballot papers that were printed, as well as the reforms that were not completed as part of the Global Political Agreement (GPA), including to the media environment and security sector.

�While SADC have withheld judgment on whether the election was either fair or credible, given the significant flaws, I am disappointed that the election result was endorsed at last weekend�s SADC Summit. I hope that the SADC and AU final reports will take into account the full impact of the failure to complete the reforms outlined in the GPA, as well as the numerous and serious irregularities highlighted on the day.

�There is strong evidence that these elections fell short of SADC�s own guidelines and the Zimbabwean electoral law. As such, we are concerned about the potential implications for the region. It is critical that the reforms that were advanced under the GPA in Zimbabwe are not lost, and that the international community supports the people of Zimbabwe in exercising their democratic right to build a free, peaceful and prosperous future.�

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The Chairperson of the Commission extends the AU�s full support to the decisions taken by the CES, which demonstrate its professionalism and enhance its credibility. She expresses the AU�s deep appreciation to those personalities who accepted the decisions of the CES, demonstrating, in so doing, a sense of responsibility and commitment to the rule of law. She reiterates the AU�s gratitude to the President of the Transition, Andry Rajoelina, for the high sense of responsibility he has shown so remarkably, as well as for his commitment to successfully and impartially conclude the transition period.

The Chairperson of the Commission reiterates the AU�s urgent appeal to all the Malagasy political and social stakeholders to contribute positively to the ongoing process for the benefit of their people who have already endured untold suffering as a result of the political crisis facing Madagascar for several years. She urges them to work towards national reconciliation in order to promote lasting peace and democracy in their country.

The Chairperson of the Commission strongly warns all those who may be tempted, in pursuit of narrow interests, to hinder the ongoing efforts and seek to challenge the decisions taken by the CES, notably by undermining public order, against all such reprehensible acts. In this regard, she underlines the determination of the AU, working with the Southern African Development Community (SADC) and with the support of the international partners operating within the International Contact Group on Madagascar (ICG-M), to impose sanctions, including travel ban and asset freeze, as well as other appropriate measures, against all those concerned. The Commission will continue to closely monitor the evolution of the situation in order to keep the AU Peace and Security Council (PSC) constantly informed of developments on the ground and enable it to take appropriate decisions.

In view of the positive developments recorded in the past few days, and on the basis of the final list of candidates as determined by the CES, the Chairperson of the Commission encourages the Independent National Electoral Commission of the Transition (CENI-T), in consultation with the United Nations, to rapidly set the new dates for the presidential and legislative elections. She urges the international partners of Madagascar to immediately resume their financial, logistical and technical support to the ongoing process in order to facilitate the holding of free, transparent, fair and credible elections.

The Commission, which is making appropriate arrangements for the deployment of election observers as soon as possible, calls on all multilateral and bilateral partners to rapidly take similar steps.

‘A Night of Fairytales’: An Audience With Diriye Osman – If you are in or around London you need to attend this event at the Poetry Cafe…..

Diriye Osman is a Somali-born, British short story writer whose debut collection of stories ‘Fairytales For Lost Children’ has already garnered praise from the iconic musician, Meshell Ndegeocello, feminist graphic novel genius, Alison Bechdel, African literary lion, Nuruddin Farah, and editor extraordinaire, Ellah Allfrey, who noted in The Telegraph that ‘My excitement over Osman and his writing comes, in part, out of delight at the impossibility of categorisation’.

In an intimate evening of storytelling, Osman will be performing dramatic snippets from ‘Fairytales For Lost Children’ interspersed with anecdotes in his infectious, trademark style. This event is brought to you by the groundbreaking LitCrawl series, which took root in San Francisco, and is now rocking it London-stylee!

WHAT: A Night of Fairytales: An Audience With Diriye Osman.

WHERE: Poetry Cafe, 22 Betterton Street, London WC2H.

WHEN: Saturday 7th September 2013. 6 – 6.30pm.

Source: blacklooks.org

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In front of an influential audience of business leaders from BRICS and 19 other African countries, Elumelu spoke of the need for mutually beneficial partnerships between African countries and the BRICS nations: "A new crop of African entrepreneurs are emerging who have ambitions beyond the continent. They should be investing in the BRICS countries in the same way that BRICS are investing in Africa - this relationship needs to go both ways.”

Elumelu was speaking at a panel session on “Specific measures and initiatives to increase business, trade, manufacturing, and investment ties between the BRICS countries and Africa”. The discussion, which was moderated by Donald Kaberuka, President of the African Development Bank, also provided valuable insights from other prominent African business leaders, including Mo Ibrahim, Isabella Dos Santos and Johann Rupert.

Kaberuka highlighted the need to improve infrastructure on the continent, stating that businesses could only grow if the infrastructure gap was addressed. Angolan investor Isabella Dos Santos stressed the need for investment in ‘soft infrastructure' stating broadband technology would have a transformative effective similar to mobile technology in Africa.

Mo Ibrahim livened up the audience with his delivery, but behind the jokes were very real and critical messages about Africa's poor global image and the importance of governance. He talked about his foundation's governance index which was one of the most comprehensive in the world, measuring 88 parameters including transparency corruption, education and health. His final message to investors was; “Don't come to Africa and help, come and make money because the highest return on investment is in Africa. Enjoy making money in Africa but please behave".

South African Johann Rupert, Chairman of Richemont and Remgro talked about the critical things he looked for as an investor – regardless of where his investment was located. He listed the four critical areas as: the rule of law, independence of the judiciary, security of property and transparency of markets.

Elumelu summed up the general consensus of the BRICS business council meeting when he concluded that: “As African business leaders, and as Africapitalists, we agree that we have amongst us enough resources to make things happen in Africa. We must share the opportunities on the continent. There are enough of us to make a difference. We need to work together to find ways of increasing trade and investment ties between the BRICS nations and Africa.”

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

For more information:

Moky Makura

Heirs Holdings

Email: moky.makura@heirsholdings.com

Telephone: +234-1-277-4641

About Heirs Holdings

Heirs Holdings is a pan-African proprietary investment company driving Africa's development. We are active long-term investors who specialise in building businesses and corporate turnaround. We aim to transform the companies in which we invest and grow them into businesses that last. We invest in Africa to create value for our shareholders and partners, and to create economic prosperity and social wealth for the continent. Our investments in power, financial services, oil and gas, real estate and hospitality, agri-business and healthcare are helping to build economies, create jobs, drive prosperity and ultimately transform the lives of ordinary Africans in Africa.

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Perante um público influente de líderes empresariais dos BRICS e de outros 19 países africanos, Elumelu falou sobre a necessidade de se conseguir parcerias mutuamente benéficas entre os países africanos e as nações pertencentes aos BRICS: "Estamos a assistir ao aparecimento de uma nova colheita de empreendedores africanos cujas ambições ultrapassam o continente. Deviam estar a investir nos países BRICS da mesma forma que estes estão a investir em África - esta relação tem de ser bilateral.”

Este discurso de Elumelu aconteceu durante uma sessão do painel sobre "Medidas e iniciativas específicas para aumentar os lados de negócios, comércio, manufatura e investimento entre os países BRICS e África”. Moderado por Donald Kaberuka, Presidente do Banco de Desenvolvimento Africano, o debate também providenciou opiniões valiosas de outros proeminentes líderes empresariais africanos, incluindo Mo Ibrahim, Isabel dos Santos e Johann Rupert.

Kaberuka destacou a necessidade de melhorar as infraestruturas do continente, declarando que os negócios só se podem desenvolver se se abordar a lacuna existente a este nível. A investidora angolana Isabel dos Santos sublinhou a necessidade de investimento numa "infraestrutura de software", declarando que a tecnologia de banda larga teria um efeito transformador semelhante ao verificado em África relativamente à tecnologia móvel.

Mo Ibrahim animou o público com o seu discurso - no entanto, as anedotas e brincadeiras escondiam mensagens muito reais e críticas sobre a pobre imagem global de África e a importância da governação. Ibrahim falou sobre o índice de governação da sua fundação, um dos mais abrangentes do mundo, que mede 88 parâmetros incluindo a transparência na corrupção, educação e saúde. Na sua mensagem final para os investidores, declarou: “Não venham a África ajudar. Venham a África fazer dinheiro porque o maior retorno sobre o investimento está aqui. Façam dinheiro à vontade em África, mas por favor, portem-se bem".

O sul-africano Johann Rupert, Presidente da Richemont and Remgro, falou sobre os aspetos fundamentais que procurava enquanto investidor – independentemente da localização do seu investimento. Identificou as seguintes quatro áreas fundamentais: o estado de direito, a independência do poder judiciário, a segurança da propriedade e a transparência dos mercados.

Elumelu resumiu o consenso geral da reunião do conselho empresarial dos BRICS ao concluir: “Na qualidade de líderes empresariais africanos e enquanto afrocapitalistas, concordamos que temos entre nós recursos suficientes para fazer as coisas acontecer em África. Temos de partilhar as oportunidades no continente. Somos suficientes para fazer a diferença. Precisamos de trabalhar em conjunto para encontrar maneiras de aumentar os laços de comércio e investimento entre as nações dos BRICS e África.”

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

Para mais informações:

Moky Makura

Heirs Holdings

E-mail: moky.makura@heirsholdings.com

Telefone: +234-1-277-4641

Acerca da Heirs Holdings

A Heirs Holdings é uma empresa de investimento privado pan-africana que fomenta o desenvolvimento de África. Somos investidores ativos de longo prazo, especializados na construção de empresas e resultados corporativos. Temos como objetivo transformar as empresas em que investimos, fazendo com que se desenvolvam e perdurem. Investimos em África com vista a criar valor para os seus acionistas e parceiros, e criar prosperidade económica e riqueza social para o continente. Os nossos investimentos em energia, serviços financeiros, petróleo e gás, imobiliário e hospitalidade, empresas agrícolas e cuidados de saúde estão a ajudar a construir economias, criar emprego, fomentar a prosperidade e, em última instância, transformar a vida do africano comum em África.

The Board of the Nigeria Export-Import Bank (NEXIM) (http://www.neximbank.com.ng) recently reconstituted by President Goodluck Ebele Jonathan, GCFR, has been inaugurated by the Coordinating Minister for the Economy (CME) and Honourable Minister of Finance, Dr. Ngozi Okonjo-Iweala, with a charge to the Bank to further boost regional trade in West Africa.

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Speaking at the Board inauguration in Abuja on Friday August 23, 2013, Dr. Okonjo-Iweala noted that the Jonathan Administration remains committed to the task of transforming the Nigerian economy and expanding regional trade through the incorporation of the West African economic zone and declared that NEXIM is pivotal to achieving this vision. According to her, “…NEXIM Bank is a very important part of our finance complex. This a Bank that was set up to support import and export trade within the country. We are happy to say that it's proven its worth; been performing its functions…but, there are a lot of expectations of this bank. Government of President Goodluck Ebele Jonathan has embarked on a path of transforming the economy and has been trying to work with our private sector to expand trade, particularly regional trade…and NEXIM has so far supported this vision…we can only encourage and support them to keep up their good work…”

The CME reminded the gathering that Nigeria's economy is 55 per cent of the regional economy which implies that the country's economic structures have to be well primed and poised to take charge of affairs and pull commensurate weight in the sub region. The platform for this is for the Government to support the private sector to trade within the region and beyond.

In this regard, the Honourable Minister rehashed that NEXIM Bank is critical to Nigeria's bid to become the powerhouse within the West Africa sub-region and Africa. She particularly lauded the initiative of the Roberts Orya-led management, stating that she “…is proud of the Bank because it's going in to some very innovative areas, like shipping along the coast, entering into partnerships with many institutions, like the African Development Bank, Islamic Bank, etc.

Closing her remarks the CME charged members to stand up to the new challenge as the Federal Government expects them to bring their diverse experience to bear in transforming the bank into an instrument of trade facilitation.

The Honourable Minister of State for Finance, Dr. Yerima Lawan Ngama, who upon the dissolution of the Board in 2011, assumed direct supervision of its affairs, used the occasion to give an account of his stewardship to the new Board and members of the Nigerian public. He categorically declared that NEXIM Bank has done very well to meet the expectations of its major Shareholders, the Federal Government and the general public. He attributed this to the professionalism of the Bank's staff. According to him, “They have done well and this is something I would say is a credit to the present management and the staff because just in the last two to three years, they have turned the Bank from a loss-making to a profit-making institution… Last year was the third year in a row that the bank was posting profit. Not only did we post profit, we also declared dividends…the first time in the history of the bank. This is a good report card for the present management, and also good news for the incoming Board to know that they have people who can really deliver.” He assured the new Board that they are coming in to work with a clean balance sheet and that it is time that the Bank was rated, and encouraged the new management to invite Agusto & Co to come and give the Bank a local rating as that will go a long way in as a way to raising funds.

The Minister of State went further to declare his satisfaction and pride that the Bank has been taken closer to Nigerians. “Hitherto, it had remained a city Bank. We have it in Abuja, Lagos, Kano and Calabar. But, by and large only those who stay in the city know the existence and do business with the Bank. Congratulating the Roberts Orya-led management, he stated, “I am proud to say that we have about seven agencies in Yenogoa, Akure, Ishiagu, Damaturu, Yola, Gusau and Makurdi. These are the agencies that would ensure that every nook and cranny of Nigeria have customers that do business with the bank…”

Dr. Yerima affirmed that NEXIM now has relationships with international credit institutions which have assisted greatly to broaden the scope of the credit offering; to guarantee credit for both export and import as well as credit insurance. Specifically, the Bank Shareholders are happy that the Bank has symbiotic agreements with EXIM Bank of India, African Development Bank, Islamic Development Bank, and other technical collaborations and budding relations with TurkExim, USEXIM, Export Development Canada (EDC) etc. The agreement with the Islamic Development Bank has been signed and the product is being offered now to broaden the income base of the Bank.

Based on Mr. President's recommendation, NEXIM is the foremost DFI in Nigeria to support the creative and entertainment industry in Nigeria. The Bank is currently arranging a credit facility with the EXIM Bank of India. He stressed that it is important to note that even before that memorandum was signed, NEXIM had already injected more than N850m into that sector. One of such facilities was a N300million in Kaduna for an amphitheater to help promote Nigerian films to fully empower the practitioners and the value-chain and save the industry, which is adjudged to be the third biggest in the world from piracy.

On the ECOWAS Trade Support Facility, there are two companies that the Bank is discussing with to provide facility to establish a shipping line that would go from city to city along the West African coast' This is an addition to the facilities being given to transporters to enhance movement of goods across the borders, namely Chad, Cameroun and Benin Republic.

Presently, there are some initiatives in progress namely, the micro-business development to ensure that those people who have small businesses can get facilities to develop them and the issue of capitalization. However, the Minister said, the Bank has to reappraise its funding structure, and seek out more avenues for raise money or float a bond. Citing AFREXIM as a best practice, the Minister encouraged NEXIM to further explore the option of raising money from the international market and not solely rely on Shareholders equity contribution.

Ending his remarks, Dr. Yerima promised to work towards ensuring that, going forward, NEXIM Board is exempted from sudden dissolution before the members serve out their tenure, just as other parastatals under his supervision such as the Nigerian Deposit Insurance Corporation (NDIC), among others. This is for the simple reason that such dissolution breeds instability which is not a good for the Bank's local and international standing.

Alhaji Suleiman Barau, OON, brought the message of the new Board Chairman and the Deputy Governor, Economic Policy, Central Bank of Nigeria (CBN), Dr. (Mrs) Sarah Alade, OON, Dr. Sarah Alade, with a pledge that the new Board members would do their best to improve the existing fortunes of the Bank, knowing full well that much is expected of them. He assured the Coordinating Minister that the new Board will leave no stone unturned to ensuring that the expectations of Nigerians and Mr. President are met. He promised that the new Board will work to support the Transformation Agenda of Mr. President and the Vision to emerge as the top 20 economies of the world by the 2020.

According to him, “NEXIM will definitely play a key role in developing a vibrant economy, vibrant financial system that would help the Transformation Agenda of Mr. President and the vision 2020….The new Board will work to transform NEXIM to become like AFREXIM, US EXIM bank, and seek sustainable sources for funding the operations of the Bank from the market." In line with President Jonathan's affirmative action on 35 per cent on women representation in governance, Dr. Sarah Alade, would be the first woman to serve as Chairman, NEXIM Board of Directors since the inception of the Bank in 1991

Other members of the reconstituted NEXIM Board are Mr. Musa Batari, Director, Trade and Exchange, CBN; Mr. Kalli Zaji, Director, Home Finance, Federal Ministry of Finance; and Mallam Ajiya Mahia, Director, Trade Federal Ministry of Industry, Trade and Investment. Also on the Board are Alhaji Mohammed I. Babangida, representing private sector interest; Chief (Barr.) Peter Nwaoboshi, also representing private sector interest; Mr. Roberts U. Orya, Managing Director/CEO, NEXIM; Bashir M. Wali, Executive Director, Corporate Services, NEXIM; and Folake I Oke, Executive Director, Business Development, NEXIM.

Distributed by the African Press Organization on behalf of the Nigerian Export-Import Bank (NEXIM).

Media Contact:

Chinedu Moghalu (234-8088-353-804, moghaluc@neximbank.com.ng)

About NEXIM Bank

The Nigerian Export-Import Bank (http://neximbank.com.ng) was established by Act 38 of 1991 as an Export Credit Agency with the broad mandate to promoting the diversification of the Nigerian economy and deepening the external sector, particularly the non-oil through the provision of credit facilities in both local and foreign currencies; risk-bearing facilities through export credit guarantee & export credit insurance; business development and financial advisory services etc.

In pursuit of its mandate of promoting export diversification and deepening the non-oil sector, the Bank's current strategic initiatives are targeted towards boosting employment creation and foreign exchange earnings in the Manufacturing, Agro-processing, Solid Minerals and Services (Tourism, Transportation and Entertainment) industries.

• Donation of six million tablets through the World Health Organization

• Around 15% of the Sudan's population suffers from schistosomiasis

Representatives of the German pharmaceutical, chemical and life science company Merck (http://www.merckgroup.com) and the World Health Organization (WHO) today launched the 2013 campaign to fight schistosomiasis in Sudan. This is the first time that Sudan is benefiting from Merck's praziquantel donation to WHO. All in all Merck has provided WHO with a total of six million praziquantel tablets for large-scale treatment of schistosomiasis in the country. The total value of the medicines is around 2.4 million Sudanese pounds (more than € 400,000). Merck's donation program is a core element of the company's social commitment and a contribution towards improving health care in developing countries.

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Schistosomiasis is widespread in Sudan. According to WHO, an estimated 5.8 million people in Sudan – around 15% of the total population – require treatment; the majority of those infected are children. Praziquantel is the only active ingredient with which all forms of schistosomiasis can be treated. Since praziquantel is also well-tolerated, it is also on the WHO list of essential drugs. According to WHO, this therapy is considered the most effective treatment in the fight against this parasitic worm disease.

The distribution of the medicine in Sudan was officially launched this morning in the presence of the Governor of Gezira State, Professor Elzubair Bashir, officials from the Ministry of Health and the German Embassy, as well as representatives from Merck and WHO in the El Mussallamia School in the state Gezira, more than 150 kilometers southeast of Khartoum. During the campaign in Gezira, 17 Administrative Units will be targeted by mass treatment with about 1.6 million tablets. Mass treatment with around 4.4 million tablets will also be administered in many schools in the states of Khartoum, Gedarif, Kassala, and North Kordofan. Depending on their height, the children receive between one and five tablets. In order to effectively fight the disease, treatment must be repeated several times in yearly intervals.

“The Merck Praziquantel Donation Program is an important part of our social commitment to Africa,” says Frank Gotthardt, Head of Public Affairs at Merck and responsible for the donation program. “Since we want to fight schistosomiasis in a sustainable manner, we have committed to maintaining our efforts in collaboration with WHO until the disease has been eliminated in Africa.” In total, 28 million children have been treated to date through the Merck Praziquantel Donation Program. Since 2007, Merck has been providing WHO annually and free of charge with up to 25 million tablets containing the active ingredient praziquantel. In the medium term, the company will increase that number tenfold to 250 million per year. The donation commitment for the entire continent is worth around €17.2 million Euros (over 102 million Sudanese pounds) per year.

The Under Secretary of the Federal Ministry of Health, Dr. Isam M. Abd Allah, welcomed the Merck donation, stating: “After malaria, schistosomiasis is considered the most prevalent tropical disease in Africa. This worm disease is also widespread among children in Sudan. Merck's commitment not only helps infected children, but also supports our public health care system.”

Dr. Dirk Stockhausen, chargé d' affaires of the German Embassy in Khartoum, welcomed the donation by the German company Merck as an excellent example of cooperation between private business, WHO and Sudanese federal and state authorities.

The Minister of Health of Gezira State Dr. Elfatih Malik and the Minister of Health of Khartoum State Dr. Mamoun Homaida explained that untreated patients often suffer from serious health consequences that cause a great deal of unnecessary suffering and incur high costs.

Anshu Banerjee, WHO representative in Sudan, said: “The World Health Organization has set itself the goal of controlling or eliminating neglected tropical diseases, among them schistosomiasis, by 2020 in order to improve and save the lives of hundreds of millions of people around the world. Therefore, we welcome every sustainable initiative that supports our efforts in the fight against tropical diseases.”

Distributed by the African Press Organization on behalf of Merck KGaA.

Contact:

Gerhard Lerch

+49 6151 72-6328

gerhard.lerch@merckgroup.com

More information on the fight against schistosomiasis is available at:

http://www.merckgroup.com/praziquantel

http://www.who.int/schistosomiasis/en/index.html

Schistosomiasis

Schistosomiasis is the second most prevalent tropical disease in Africa after malaria. It is estimated that more than 200 million people are infected, around 200,000 of whom die in Africa every year. This chronic, parasitic disease is transmitted by flatworms. It is widespread in tropical and subtropical regions where poor populations have no access to clean water and sanitary installations. People contract this disease via the worm larvae that live in freshwater, while doing activities such as working, swimming, fishing, or washing their clothes in lakes and ponds. The miniscule larvae penetrate human skin, enter the blood vessels and attack internal organs such as the liver, colon, spleen, or bladder.

All Merck Press Releases are distributed by e-mail at the same time they become available on the Merck Website. Please go to www.merckgroup.com/subscribe to register online, change your selection or discontinue this service.

Merck is a leading pharmaceutical, chemical and life science company with total revenues of € 11.2 billion in 2012, a history that began in 1668, and a future shaped by approx. 38,000 employees in 66 countries. Its success is characterized by innovations from entrepreneurial employees. Merck's operating activities come under the umbrella of Merck KGaA, in which the Merck family holds an approximately 70% interest and shareholders own the remaining approximately 30%. In 1917 the U.S. subsidiary Merck & Co. was expropriated and has been an independent company ever since.

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Last month, Heirs Holdings committed $2.5bn toward the Power Africa Initiative, a multi-stakeholder partnership between the US government and seven sub-Saharan African countries, including Nigeria; and earlier this year, Transcorp signed a cooperation agreement with General Electric (GE) for the development of the power sector in Nigeria.

Transcorp Ughelli Power Limited (TUPL) announced last week a $225 million payment to Nigeria's Bureau of Public Enterprise (BPE) representing the 75 per cent balance of the $300 million bid price for the 1000 megawatts capacity plant. TUPL made an initial deposit of $75m (25 per cent) for the plant in February this year.

TUPL, which has American company Symbion Power as an equity investor in the project, plans to increase the power generation of the plant from 300MW to over 1070MW over the next five years.

United Bank for Africa Plc (UBA) and the Africa Finance Corporation (AFC) as co-arrangers, and First City Monument Bank Plc (FCMB) and Fidelity Bank as co-financiers provided the debt financing facility for the acquisition of the plant, which is one of the six power generation companies unbundled as part of the privatization of the Power Holding Company of Nigeria (PHCN).

Commenting on the completion of their acquisition, Elumelu, the Chairman of Heirs Holdings and of Transcorp said: ‘It is a major stride forward and has significance for Nigeria, the region and Obama's administration, as it represents positive progress in the fulfilment of Power Africa. We are committed to developing Nigeria's power sector efficiently to meet the increasing demands of our fast-growing economy and improve the living standards of all Nigerians.”

The Power Africa Initiative led by the United States President, Barack Obama is a multi-stakeholder partnership between the US government and six (6) other sub-Saharan African countries, together with the African private sector. The shared objective of this initiative is accelerating investment in Africa's power sector over the next five years.

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

Contact:

Moky Makura

Heirs Holdings

E-mail : moky.makura@heirsholdings.com

Téléphone : +234-1-277-4641

About Heirs Holdings

Heirs Holdings is a pan-African proprietary investment company driving Africa's development. We are active long-term investors who specialise in building businesses and corporate turnaround. We aim to transform the companies in which we invest and grow them into businesses that last. We invest in Africa to create value for our shareholders and partners, and to create economic prosperity and social wealth for the continent. Our investments in power, financial services, oil and gas, real estate and hospitality, agri-business and healthcare are helping to build economies, create jobs, drive prosperity and ultimately transform the lives of ordinary Africans in Africa.

Media accreditation for the judgement is now open in The Hague. The Appeal Judgement will be streamed live to the SCSL courthouse in Freetown, and journalists in Freetown will join journalists in The Hague by video link for a post-judgement press conference

.

On 26 April 2012, the Judges of Trial Chamber II found Mr. Taylor guilty on all counts of the 11-count indictment. The Judges found unanimously that he had participated in the planning of crimes, and of aiding and abetting crimes, committed by rebel forces in Sierra Leone. On 30 May 2012, the Trial Chamber sentenced him to a term in prison of 50 years.

The Defence has appealed against judgement and sentence on 42 grounds, arguing that the Trial Chamber had made systematic errors in the evaluation of evidence and in the application of law sufficiently serious to �reverse all findings of guilt entered against him� and to vacate the judgement. The Defence also argued that the 50-year sentence was �manifestly unreasonable.�

The Prosecution has appealed on four grounds, arguing that Mr. Taylor should have been found individually criminally responsible for ordering and instigating crimes committed by rebels in Sierra Leone. The Prosecution also asked the Appeals Chamber to reverse the Trial Chamber�s finding that crimes committed in certain areas of five districts fell outside the scope of the indictment, and argued that the 50-year sentence was not �reflective of the inherent gravity of the totality of his criminal conduct and overall culpability� and should be increased to 80 years.

Charles Taylor was tried on an 11-count indictment, alleging (as violations or Article 3 Common to the Geneva Conventions and of Additional Protocol II) acts of terrorism, murder, outrages upon personal dignity, cruel treatment and pillage; (as crimes against humanity) murder, rape, sexual slavery, other inhumane acts and enslavement; (as other serious violation of international humanitarian law) the conscription, enlistment or use of child soldiers.

The AU High-Level Panel for Egypt was appointed by the Chairperson of the Commission, Dr. Nkosazana Dlamini Zuma, on 8 July 2013. It held its inaugural meeting in Addis Ababa on 16 July 2013, and undertook its first visit to Egypt from 27 July to 4 August 2013.

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�The exploitation of geothermal potential in the Lake Assal region will enable the Djiboutian population to access reliable, renewable and affordable source of energy,� said AfDB�s Regional Integration Director Alex Rugamba, on behalf of the Vice-President, Infrastructure, Private Sector and Regional Integration, during the signing ceremony.

The financing scheme includes a grant and a loan from AfDB�s soft loan arm, the African Development Fund to the tune of US $5.3 million and US $0.4 million respectively. It also includes a grant of US $1.8 million from the Sustainable Energy Fund for Africa (SEFA).

The contribution from the AfDB and SEFA will be used to continue to raise more financing and will serve as a catalyst to rally independent geothermal electricity producers.

Speaking at the signing ceremony, Ali Yacoub Mahamoud, Djibouti�s Minister of Energy in charge of Natural Resources, commended the African Development Bank for �breathing new life into this 20-year old project�.

With this first phase of the project, the government of Djibouti is taking the lead on the first exploration and appraisal drilling phase. The private sector will be responsible, in a second phase, for the production drilling, steam gathering system and electricity production and evacuation to the national grid.

Geothermal development has known a boost in East Africa during the past two years, and has been attracting more and more private investors, thanks to new financing schemes put in place by development finance institutions such as the African Development Bank.

�Those innovative models help overcome the several risks associated with geothermal development, among which the most important one is the exploratory drilling risk, which is related to the probability of hitting dry wells during the exploration and appraisal drilling phase,� said Youssef Arfaoui, Chief Renewable Energy Specialist. �By providing concessional finance to the early stage and high-risk activities mainly related to exploration and drilling, the African Development Bank paves the way for private investors to step in,� he explained.

The AfDB has successfully used that innovative model in 2011, for the Menengai Geothermal Development Project, supported by concessional financing to the tune of US $150 million. The Menengai project, once completed, will increase the energy supply in the country by an amount equivalent to the current consumption needs of 500,000 Kenyan households, 300,000 small businesses and some 1,000 GWh for other businesses and industries.

At a much smaller scale, the Lake Assal geothermal exploration project will help expand geothermal development, by building regional capacities, to other Rift Valley countries in Sub-Saharan Africa such as Ethiopia, Uganda, Tanzania and Rwanda, which have considerable geothermal resource development potential.

Currently Djibouti relies mostly on fossil fuels and some hydropower imports from Ethiopia. The majority of the country�s current generation capacity is situated in Djibouti City. The existing power stations are old, polluting and expensive to operate. In addition, fuel imports are expensive and require important foreign-currency expenditure.

Distributed by the African Press Organization on behalf of the African Development Bank (AfDB).

Contacts:

Youssef Arfaoui, T. +216 71 10 23 08 / y.arfaoui@afdb.org

The Chairperson of the Commission commends the Somali parties for reaching this historic Agreement, which is a further illustration of the capacity of the Somalis to triumph over their differences.

The Chairperson of the Commission thanks Ethiopia for its untiring efforts, the resources committed and for its dedication in facilitating the negotiations between the parties. She expresses the AU�s gratitude to the IGAD member states and Secretariat for their continued commitment to peace, security and reconciliation in Somalia, and their determination to sustain the current momentum in Somalia.

The Chairperson of the Commission calls on Somalia�s partners to extend increased support to the FGS and the Somali people in their efforts. In this respect, she looks forward to the successful holding of the High-Level Conference on a New Deal for Somalia, scheduled to take place in Brussels on 16 September 2013. She assures the Somali authorities and other stakeholders of the AU�s continued commitment, notably through AMISOM, to assist them in consolidating the tremendous progress they have made.

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The investment is further evidence of Elumelu's strategy of increasing African businesses participate across the oil and gas value chain, and complement existing interests in oil and gas production and exploration. Seadrill, the world's leading offshore driller is listed on both the New York and Oslo stock exchanges, operating the second largest ultra-deepwater fleet and largest premium jackup fleet in the industry with 7,500 staff in 15 countries.

Commenting on the investment, Elumelu said, “Seadrill is a significant player in the oil and gas space, with a strong track record and one of the most respected names in the industry. The partnership makes strong commercial sense, bringing together a major global player and a leading African participant in the oil and gas industry. Successful development of Nigeria's deep water oil and gas fields is of strategic importance for our country. This is an important part of our own approach of creating synergistic added value investment across the energy sector, from extraction to processing and perhaps most importantly for Nigeria, industrial production and power generation.”

Commenting further, Elumelu said ''This partnership sets the stage for greater development in our energy sector, driven by local talent and should serve as a model for further, genuine, indigenous participation, creating both economic and social impact.”

Seadrill Mobil Units (Nigeria) Limited, Director Svend Anton Maier added; "The partnership with Heirs Holdings creates the right mix of global technical expertise, backed by operational excellence and sound financial management to the Nigerian market. It positions the company as a local industry leader and a truly indigenous player."

Heirs Holdings makes proprietary investments in strategic sectors throughout Africa. Through affiliates Tenoil Petroleum & Energy Services; and Transcorp Energy - established to lead Transcorp's focus on the energy sector, Heirs Holdings has already made significant commitments to the oil exploration and production sector, through the acquisition of OPL 281, an onshore oil field with substantial gas reserves, by Transcorp and Tenoil's development of OPL 2008, which is intended to enter production in 2014.

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

For more information:

Moky Makura

Director, Marketing & Corporate Communications

Heirs Holdings

Email: moky.makura@heirsholdings.com

Telephone: +234-1-277-4641

About Heirs Holdings

Heirs Holdings is a pan-African proprietary investment company driving Africa's development. We are active long-term investors who specialise in building businesses and corporate turnaround. We aim to transform the companies in which we invest and grow them into businesses that last. We invest in Africa to create value for our shareholders and partners, and to create economic prosperity and social wealth for the continent. Our investments in power, financial services, oil and gas, real estate and hospitality, agri-business and healthcare are helping to build economies, create jobs, drive prosperity and ultimately transform the lives of ordinary Africans in Africa.

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This agreement will expand the remit of MasterCard across the African countries where Standard Bank is present and leverages the use of several MasterCard products and services, including MasterCard Advisors, to further optimise Standard Bank's distribution platforms, introduce new product offerings and drive cost efficiencies.

Behind Cairns and Schlebusch are (left to right) Chris Sweeney, Head of Card, Standard Bank Group; Philip Panaino, Division President, South Africa, MasterCard and Michael Miebach, President, Middle East and Africa, MasterCard.

Distributed by the African Press Organization on behalf of MasterCard Worldwide.

Media Contact:

Gina de Villiers, mastercard@tribecapr.co.za, +27 11 208 5500

About MasterCard:

MasterCard (NYSE: MA), (www.mastercard.com), is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, (

https://twitter.com/MasterCardNews) join the discussion on the Cashless Conversations Blog (http://newsroom.mastercard.com/blog/) and subscribe, (http://newsroom.mastercard.com/subscribe/) for the latest news, (http://newsroom.mastercard.com/).