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UBA Foundation, the corporate social responsibility arm of the United Bank for Africa Plc, is calling on all Senior High School students in Ghana to participate in the 2017 edition of the National Essay Competition (NEC). Launched in 2014 in Ghana, the competition provides a competitive platform to develop the intellectual and writing abilities of Senior High School students in across Africa.

At a colourful ceremony at UBA’s Ghana’s head office, the launch was attended by a number of UBA’s senior executives, staff and representatives from the Ghana Education Service and beneficiaries from previous editions.

The Chief Executive Officer of UBA Ghana, Abiola Bawuah was pleased with the bank’s contribution to education in the country so far.

“For three consecutive years, we have organised and sponsored nine students at the tertiary level, and this year we are hoping to make it 12. We are committed to this and will keep supporting students who strive to achieve academic excellence in cognitive writing among other academic disciplines” she said.

She added that, “the number of essay entries received last year was an improvement over the previous years and we are encouraged by this. The UBA Foundation National Essay Competition is amongst the top academic competitions in the country at the moment. We have guardians and students who call in to ask when the competition is starting. It tells from the outside how keen the competition is getting and also reminds us of how we cannot fail the people”

The CEO of the UBA Foundation, Bola Atta talked about the contribution of the Foundation to the first nine beneficiaries of the NEC in Ghana who are currently at various institutions in Ghana receiving quality education. Of the competition, she said, “there is no looking back on this. One of our key focus areas is Education as it leads to empowerment especially for the youths who are the future leaders on the continent. We have launched in 3 African countries presently and plan on extending this to all countries in which we operate. I’d like to wish all the hopefuls success with their entries as this is a potentially life changing competition for many’.

Mr. Augustus Owusu-Agyemfra, the Deputy Director of the Secondary Division of the Ghana Education Service in his remarks praised UBA for their contribution to education and pledged their support to sensitise all Senior High Schools of the UBA Foundation Essay Competition. “I have heard of the competition and I have learnt of its contribution. We will use our connection with all the schools to ensure this year’s competition is well promoted”.

In her testimonial, Ms Dorcas Darko, a previous winner who is in her third year at the University of Ghana shared her experience with the guests.

“UBA has been very instrumental in my education. For me it was like a test to myself. In the least did I know I would emerge among the top three. My parents didn’t have to stress to raise my school fees because UBA had it covered. Am grateful to the organization and especially the UBA Foundation. I would like to encourage everyone who qualifies to participate in the competition. UBA are really true to their words”

Master Frederick Asante, also a previous winner, recounted his moments. “To me it was very challenging. I learnt a lot through participating in the UBA Foundation Essay Competition. It broadened my horizon and tested my cognitive skills. I would like to thank the Foundation for their support and like to entreat high school students take it serious this time”

The students stand the chance of winning educational grants to help their tuition in any African University of their choice. The National Essay Competition in Ghana has produced nine winners, some of whom are studying in various universities in Ghana.

Entries for the fourth edition start on Thursday, October 5 and will close on Friday, November 10. Applicants are required to submit handwritten essays of not more than 750 words to any UBA Ghana branch or to the head office, Heritage Tower in Accra, on the topic: “Galamsey or illegal mining has been a menace to the Ghanaian society causing ill effects. As a student, what ways or methods do you suggest can curb this societal problem?”,

BIG STORY

At UBA Business Series, Experts Say Innovation, Passion Crucial To Build Lasting Businesses

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Building businesses that stand the test of time requires a blend of innovation, unwavering focus, and passion. This was the key takeaway from the latest edition of the United Bank for Africa (UBA) Business Series, hosted on Thursday,

With the theme: “Profit with Purpose, Business Continuity,” the event which was held at the Tony Elumelu Amphitheatre, UBA House, Marina, Lagos, brought together top industry leaders and entrepreneurs who shared actionable insights and strategies for ensuring business resilience and sustainability in today’s dynamic economic environment.

Founder, Terra Kulture, Bolanle Austen-Peters, Chief Executive of Asadtek Group Limited, Ghana; Dr. James Asare-Adjei; Award winning TV Personality & Multi Media Entrepreneur, Frank Edoho, Celebrated multimedia personality, Toke Makinwa and founder of Nigeria’s pioneering indigenous premium coffee brand, Happy Coffee, Princess Adeyinka Tekena, were on ground to share their business journey and give insights on how businesses can stand the test of time and thrive in a competitive environment.

Bolanle Austen-Peters who is also a Prominent Lawyer, Award Winning Film Director, and Producer, was the keynote speaker at the event and she spoke on the need for small and medium scale businesses to define their purpose, build a workable framework and have a team that shares in your vision.

On how she has run a business successfully for over 20 years, she said, “I can never overemphasise the role that purpose plays in your business. There is the need for business owners to set clear goals and achievable targets. From Day one, I started with having an organisational structure like what we have in banks, complete with legal structure, a board of Directors, administrative Officers, and all.

Continuing she said, “The truth is that if you do not have a framework for your business, you may just be another business from the street. Putting together a structure shows that you are in for serious business, and people will treat your business as such,” she explained.

James Asare-Adjei from Ghana, who also shared that key essentials like being innovative and having integrity said that MSMEs need to identify areas that they can excel at and work towards building it. “As business owners, you need to take advantage of the market available to you, and ensure that you add value at every point.

For Frank Edoho, passion remains an essential ingredient that drives business growth. “Passion is very important, as business owners, you should stick to your guns and learn from what others are doing and add it to your experience to make your business better,” he explained.

“One of the things I did to grow my brand was that I was very focused,” said Toke Makinwa, who recalled her humble beginnings as a banker and later a broadcaster. “I kept the right attitude and surrounded myself with people who are team builders. These are winning strategies anytime,” she noted.

Princess Adeyinka Tekena, who is a beneficiary of the Tony Elumelu Foundation (TEF) Grant, said the $5,000 grant she won in 2015, helped to build her business from ground up and the business has been thriving for over 10 years now. She pointed out that tenacity, determination and financial discipline have been some of the factors that have contributed to the growth of her small business.

UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, who commended the participants for sharing valuable insights explained that with these regular capacity building programs, UBA focuses on empowering other business owners to build sustainable businesses.

“At UBA, it is not just about Banking, we are also passionate about helping our customers to grow thriving businesses, and that is why we do this on a regular basis,” she noted.

The UBA Business Series is a regular seminar/workshop organised by the bank as one of its capacity-building initiatives, where leading business leaders and professionals share well-researched insights on relevant topics and best practices for running successful businesses, especially in difficult business challenges.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

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BIG STORY

Dangote Sells Fuel Refined From Crude Oil Bought In Naira To Foreign Markets In Dollars — Bloomberg Report

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Investigation reveals that “businessman” Aliko Dangote has signed a contract with “Vitoil” for 5 cargoes of 38,000 metric tonnes per cargo.

One of them is the “CL Jane Austen” tracked by Bloomberg.

The Dangote Refinery has altered the federal government’s petrol supply plan as it began the sale of fuel in dollars to the foreign market, with a vessel (tanker/cargo) already having hauled the product from the refinery to waters off Togo.

The crude oil from which the product was refined was sold to the refinery established by Africa’s richest man in Naira through a government’s template that began in October.

The private refinery, a report by Bloomberg showed, has signed a contract with “Vitoil” for 5 cargoes of 38,000 metric tonnes per cargo.

Investigation by Bloomberg showed that the tanker named “The CL Jane Austen” recently loaded more than 300,000 barrels from Dangote.

The tanker sailed west, according to data from Vortexa, Kpler, Precise Intelligence, a port report, and ship-tracking data compiled by Bloomberg.

“It’s now floating off the coast of Lome, a popular area for ship-to-ship transfers,” the report added.

President Bola Ahmed Tinubu ordered the sale of crude oil to Dangote Refinery in Naira, an order that has been confirmed to have been implemented by the Nigerian National Petroleum Company Limited (NNPCL).

Meanwhile, the new fuel supply deal between Dangote Refinery, which benefited from the crude oil sale in Naira, and “Vitol” is being carried out in dollars.

While the shipment is tiny in the context of the global gasoline market, it signals the ramp-up of Dangote’s production and the potential to export significant volumes of gasoline beyond Nigeria, which could upend regional markets.

The refinery last month shipped its first seaborne fuel cargo to the nearby commercial hub of Lagos.

Whether large amounts of Dangote’s fuel output end up being exported remains to be seen.

A Dangote spokesperson didn’t respond to a request for comment.

Last month, Nigeria ended its state-owned oil company’s monopoly on buying the fuel from the plant for domestic use.

Meanwhile, the country continues to import fuel from Europe and the US.

It’s also not certain where the “CL Jane Austen’s” cargo will ultimately end up.

Although it’s off Togo, the area is often used for STS transfers, meaning the fuel could subsequently be taken elsewhere.

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BIG STORY

NNPCL Executes Gas Sale Agreement With Dangote Refinery

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The Nigerian National Petroleum Company Gas Marketing Limited (NGML), a subsidiary of NNPCL, has signed a Gas Sale and Purchase Agreement with Dangote Petroleum Refinery and Petrochemicals, Lagos.

The agreement was signed on Tuesday at the Corporate Head Office of Dangote in Falomo, Lagos, by Justin Ezeala, the Managing Director of NGML, and Aliko Dangote, the President/Chief Executive Officer of the Dangote Group. It outlines the supply of natural gas for power generation and feedstock at the refinery.

“This major milestone is in line with President Bola Tinubu’s policy of utilising Nigeria’s abundant gas resources towards revamping the nation’s industrial growth and kickstarting its economic prosperity.”

“This development, which sees a huge investment of this nature penned with zero capital expenditure outlay, has been described by many as unprecedented in the history of NGML or any gas Local Distribution Company in the country,” stated Olufemi Soneye, NNPCL spokesperson, on Wednesday.

According to Soneye, under the terms of the agreement, NGML will supply 100 million standard cubic feet of gas per day—50MMSCF/D as firm supply and the remaining 50MMSCF/D as interruptible natural gas supply to the refinery. This agreement will last for an initial period of 10 years, with options for renewal and expansion.

“This collaboration is a significant step toward ensuring the operational success of the Dangote Refinery and enhancing Nigeria’s domestic gas utilisation.”

“NNPC Ltd, through NGML, its gas marketing subsidiary, continues to lead efforts in promoting the use of domestic gas to support industries and businesses nationwide.”

“The agreement represents a milestone for both NNPC Ltd and Dangote refinery, aligning with their shared commitment to boosting local production and providing vital products for the benefit of all Nigerians.”

“It is also further proof of NGML’s unwavering commitment to business excellence and fulfilling NNPC Ltd’s core mandate of ensuring Nigeria’s energy security through the execution of strategic gas projects across the country,” the statement concluded.

Reports indicate that the Dangote refinery alone is equipped with a 435MW power plant capable of meeting the total power needs of the Ibadan Electricity Distribution Company.

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