Tuesday 10 December 2013

TRIBUTE TO THE FREEDOM FIGHTER: NELSON MANDELA

In the gallery of world statesmen of the 20th century, Nelson Mandela occupies an exceptional position.  His name will be forever linked with the struggle of the South African people to end apartheid, the coping stone of the racism and the injustices to which they had been subjected for so long.
However, this is not the heart of the matter.  What sets Mandela apart in world history is the charity with which he led the struggle against apartheid and at the rendezvous of victory, successfully barred the way to any form of recrimination or racial vainglory on the part of the victorious majority.  It was the end to which every step in his long and eventful journey had been directed.
Dr. Nelson Mandela
I will leave it to his countrymen and comrades who were by his side in the heat and dust of the struggle, to tell the world of the unique qualities of leadership he brought to bear; and confine myself to only what I saw of him as we worked together to achieve a negotiated end to apartheid especially in the wake of his release from prison in February 1990.
At the beginning of 1986, I visited South Africa with the Commonwealth Eminent Persons Group (EPG) appointed by Commonwealth leaders to bring about negotiations between the apartheid regime and the opposing  political parties.
Mandela was still in prison at Pollsmoor, and it was there that we met him.  He had been incarcerated for 23 years, but the years of incarceration appeared to have left no mark on his spirit that I could detect.  A number of other things also struck me about him: his personality was both warm and magnetic; he exuded a natural and effortless authority; and although already well into his sixties, he remained ramrod straight in spite of his unusual height.
Here, I concluded, was one of nature’s true aristocrats.  I knew and felt that we were in the presence of a special being, and so when later I came to write about him, I recalled William Hazlitt’s essay on ‘Mind and Motive’ where he paid tribute to those “who walked by faith and hope,” who “live in the midst of arrows and of death” but on whom the world has no hold.
The apartheid regime’s Minister for Prisons, Kobie Coetsee, had requested that he and his officials be present at our meeting with the inmate, Nelson Mandela. It was left to the two EPG Co-Chairmen and myself first to ascertain Mandela’s reaction to the request.
I still remember the magisterial confidence with which he told us: “Let him and his team be at our discussions because there is nothing I will say to you that I have not told them.”
We briefed Mandela on the discussions at the Nassau  Commonwealth Heads of Government Meeting that had led to the appointment of the EPG and its mandate. He listened attentively, and expressed wholehearted support for the mission.  However, in the same breath, he stressed that while he personally supported the objectives, he could not speak for the ANC.
Only the leadership in Lusaka could speak on behalf of the party, and he hoped we would go there to seek the party view.  This epitomised Mandela’s unique humility and modesty.  The world might regard him as the embodiment and conscience of the struggle but he insistently saw himself at that moment and always, as no more than an individual within the party, deferring to the party leadership at every turn.
In July 1990, four months after Mandela had finally been released from prison, I assumed office as Commonwealth Secretary-General. In May of the same year, during Mandela’s visit to Nigeria, we had begun to plan on how to work together to ensure the success of the negotiations between the South African Government and all other political parties.  Over that period, a warm friendship developed between us leading to his writing the Foreword both to my Memoirs and to my biography.
It was in that May that we agreed that my very first official dinner in my first week in office in London, would be one in his honour to provide him with an opportunity to engage with major business companies with interests in South Africa. My wife and I hosted the dinner on 5 July 1990 at the headquarters of the Royal Commonwealth Society. Nelson, and his former wife, Winnie attended, together with the representatives of 42 major companies operating in South Africa.
On another one of his visits to London, at the end of a lunch I hosted for him in my residence, Mandela made the following remarks which again epitomised the special person he was. In a reminiscent vein, he spoke about the divisions within South African society that the Second World War had brought about, and the contrasting positions between his father’s generation and his own.
The older generation was ambivalent as to which side to support.  In their view, there was nothing to commend the white South African Government which was supporting Britain with the Prime Minister General Smuts in the in the forefront of the war effort.  They could not overlook the fact that they had taken Britain’s side in the Anglo-Boer war only to have their hopes of a better deal betrayed.
Mandela observed that his own generation took a different position. As they viewed the situation, the stakes involved in the Second World War were much greater than any local grievances, however protracted, and for this reason, they worked and prayed for a British victory.  The higher good, not the parochial advantage:  that was what always guided Mandela.
In December 1991, the long expected and hoped for negotiations between the Government and the political  parties were finally launched at KemptonPark in Johannesburg within the framework of the Convention for a Democratic South Africa (CODESA).   I sent a small but high powered group of senior Commonwealth Statesmen to the inauguration, not only to show support for the process, but also to underscore the importance that the Commonwealth attached to the success of the negotiations.
However, just as the talks were beginning to make progress, a wave of violence broke out in many parts of the country, including a massacre of no less than six supporters of the ANC at Boipatong.
Following discussions with Mandela in Dakar, Senegal where he had been invited to an OAU summit meeting, I hurried back to South Africa to negotiate with the State President F. W. de Klerk and the leaders of the opposition political parties, for international observers to be sent to the country.
As a consequence, the Commonwealth, the United Nations, the European Union and the Organisation for African Unity (OAU), in effect the entire International community, sent observers to contain and help end the violence.
If the violence had been allowed to subvert the negotiations, it would have been the end of everything that Nelson Mandela and his generation had worked for.  To be sure, the struggle would have resumed, but in those circumstances it would have been practically impossible to keep it within the old, established moral perimeters:  non-racialism and minimum violence.
These were values that the ANC leadership had worked so hard to inculcate into black South Africans over the years, values that had been overwhelmingly accepted.  The South Africa that might have emerged from such a renewed struggle would be one reared on dust and ashes and Mandela did not care to think of such a society.
In this affirmation, the real Mandela stood out. It remains an unforgettable image in my mind and, I am sure, in the minds of many others who were present at the Union Buildings amphitheatre in Pretoria on May 10, 1994 to witness Nelson Mandela take the oath of office as the first democratically elected President of South Africa. I still remember the tears of joy that rolled down the faces of so many at that wonderful occasion.
At the end of apartheid there were voices within the country that wanted some of the egregious racist criminals, in the days of apartheid, to be tried and punished.  They may not have put their demands in terms of Nuremberg, but that was clearly the spirit of what they were asking for.
The decision to replace a Nuremberg-style process with a Truth and Reconciliation process was a dramatic exemplification of the best of a national leader, allowing his head to see further than his heart  when confronted with an intractable moral problem.  The world has been several shades saner and safer for that rare example of statesmanship.
At the beginning of the twentieth century, another South African, Olive Schreiner said that “the problem which this century will have to solve is the accomplishment of this interaction of distinct human varieties on the largest and most beneficent lines, making for the development of humanity as a whole.”
Olive Schreiner saw a special role for South Africa in contributing to bring about this “interaction of distinct human varieties” and concluded that on the power of South Africans “to solve it regally and heroically depends our greatness.”
In Nelson Rolihlahla Mandela, South Africa finally found the man  who gave the lead to the people of South Africa in all their “human varieties” to resolve the intractable challenge of apartheid regally and heroically.
Nelson Mandela was a rare human being. What an honour and privilege it is to have been associated with him.
Hamba Kale, Madiba. Go well, and may your succession never end.

Tuesday 12 November 2013

INDIA LAUNCHES ROCKET IN HOPE OF JOINING ELITE MARS EXPLORER CLUB

 India has launched a rocket it hopes will allow it to join an elite group of space explorers to Mars.
The country's space research organization (ISRO) launched its orbiter to the Red Planet on Tuesday -- only NASA, the former Soviet Union and the Europeans have previously been successful in operating probes from Mars.
Japan made an attempt with the Nozomi orbiter in 1998 but it failed to reach the planet and a Chinese probe was lost along with theRussian Phobos-Grunt mission in January 2012. The UK's Beagle 2 probe separated from the European Space Agency's Mars Express orbiter in 2003 but nothing was ever heard from the lander.
It will take 10 months for India's Mars Orbiter Mission to reach the Red Planet after lifting off from the Satish Dhawan Space Centre near Chennai. The probe will explore the planet's surface features, minerals and atmosphere.
Open Mic: India's Mars mission
ISRO is hoping to discover more about the loss of water from Mars, map the sources of methane gas, as well as collecting data about the two moons Phobos and Deimos.
But ISRO chairman K Radhakrishnan told CNN that one of the biggest technological challenges was just getting there. Many missions have failed to reach the planet while others have crashed on the surface or contact has been lost before the probes could send back data.
A race for space with new players
India's space program launched its first Earth satellite in 1975 and put an unmanned probe into orbit around the Moon in 2008. It plans to launch its own manned spaceflight in 2016, though an Indian cosmonaut, Rakesh Sharma, flew aboard a Soviet space mission in 1984.
The U.S. is aiming to build on the success of a series of robots that have roamed the surface of the Red Planet when it launches its own orbiter mission called Maven -- Mars Atmosphere and Volatile Evolution spacecraft -- scheduled to launch on November 18.
The European Space Agency is working with the Russians on anExoMars rover that is due to start its mission in 2018.
But private companies are also proposing trips to the Red Planet -- and some of them are only one-way.
The Mars One project wants to colonize Earth's neighbor, beginning in 2022 and the Inspire Mars Foundation wants to launch a man and a woman on a 501-day round-trip in 2018 without ever touching down.


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Egypt is worst Arab state for women, Comoros best: survey

LONDON: Sexual harassment, high rates of female genital cutting and a surge in violence and Islamist feeling after the Arab Spring uprisings have made Egypt the worst country in the Arab world to be a woman, a poll of gender experts showed on Tuesday. 


Discriminatory laws and a spike in trafficking also contributed to Egypt's place at the bottom of a ranking of 22 Arab states, the Thomson Reuters Foundation survey found. Despite hopes that women would be one of the prime beneficiaries of the Arab Spring, they have instead been some of the biggest losers, as the revolts have brought conflict, instability, displacement and a rise in Islamist groups in many parts of the region, experts said. 

"We removed the Mubarak from our presidential palace but we still have to remove the Mubarak who lives in our minds and in our bedrooms," Egyptian columnist Mona Eltahawy said, referring to Egypt's toppled dictator, Hosni Mubarak. "As the miserable poll results show, we women need a double revolution, one against the various dictators who've ruined our countries and the other against a toxic mix of culture and religion that ruin our lives as women." 

The foundation's third annual women's rights poll gives a comprehensive snapshot of the state of women's rights in the Arab world three years after the events of 2011 and as Syria's conflict threatens further regional upheaval. Iraq ranked second-worst after Egypt, followed by Saudi Arabia, Syria and Yemen. Comoros, where women hold 20 percent of ministerial positions and where wives generally keep land or the home after divorce, came out on top, followed by Oman, Kuwait, Jordan and Qatar. The poll by Thomson Reuters' philanthropic arm surveyed 336 gender experts in August and September in 21 Arab League states and Syria, which was a founding member of the Arab League but was suspended in 2011.
 

Questions were based on provisions of the U.N. Convention to Eliminate All Forms of Discrimination Against Women (CEDAW), which 19 Arab states have signed or ratified. The poll assessed violence against women, reproductive rights, treatment of women within the family, their integration into society and attitudes towards a woman's role in politics and the economy. Experts were asked to respond to statements and rate the importance of factors affecting women's rights across the six categories. Their responses were converted into scores, which were averaged to create a ranking.

How Nigeria's e-commerce foster new partnership across sector.

Although the e-Commerce market in Nigeria, is relatively new, it is however growing in fast pace to attract interests of different sectors of the economy.
With an estimated growth rate of 25% annually, the sector is said to worth more than N255Bn annually.
However, this figure is expected to change rapidly and positively as more and more customers look towards the internet to find the best deals on products and services.
Moreso, other trends, including investments in telecommunications industry which is driving cheaper data prices and increased internet penetration; massive mobile phone penetration with significant growth in the acquisition of smart feature phones, would ensure that the figure remains high.
In fact, online researchers, emarketer.com states that while e-Commerce across the rest of the world is growing at 16.8%, Africa’s e-Commerce space is growing at a rate of 25.8% – making it the fastest growing in the world.
This growth has also been seen as fuelling a massive consumer behavioural change in favour of electronic commerce.
Meanwhile, there are noticeable reasons why this growth has remained constant and may so remain for sometime:

Massive Population: Nigeria is amongst top 10 most populous nations in the world with approximately 170million residents.  Participation of even a fraction of this population could send any economy sky high on the market table.

There is also the Central Bank of Nigeria, CBN angle, with its cashless economy push which has seen Point of sale terminals, PoS, Web and Mobile Transaction Volumes, rise in Nigeria.
However, the most interesting thing is that this development is fording partnerships across sectors there were hitherto difficult in the past.
FirstBank/Didimall,com deal
For instance, it could have been difficult in the past for FirstBank of Nigeria to see  prospects in partnership with an online outfit,
But last week it linked Medessy Enterprises Limited, owners of online platform, Gidimall.com to deliver xmas promo proposal to its customers
The initiative, tagged Buy now, pay later becomes one of the innovative partnerships between an online retail store and a bank in Nigeria.
It allows customers who have salary accounts with FirstBank, an opportunity to shop and pay over a period up to 18 months.
What this means is that, customers can enjoy this Christmas and more by having a complete makeover of their homes and apartments for as low as N199, 000 and this is backed by a 12 to 24 months warranty on all appliances. Medessy Enterprises said that it resolved to make life more meaningful and convenient for customers in the belief that one do not need to be cash strapped to fully enjoy the best of what the season has got to offer. With this offer, we hope that customers will be able to plan their cashflow properly for the following year while still enjoying all the blessings of Christmas.
Meanwhile, the promotion was just at the heels of the launch of its first Facebook store in Nigeria barely a month ago.
Need and opportunity matrix
Besides the excitement that the deal brings, Gidimall’s Director of operations,  Esi Evbakhavbokun said his company has also discovered a need and opportunity matrix that would always keep online business up and running in the country. Part of the opportunities he discovered included the opportunity to bridge the retail gap of the economy by providing a web and mobile shopping channel for Nigeria’s growing population. According to him, “changing customer behaviour in favour of e-Commerce acceptance is an opportunity to expand market share and become one of the market leaders in online retailing across Africa.
An opportunity to grow and expand the retail sector of our economy  with positive effect in reducing unemployment and building the right, sustainable retail infrastructure across the continent.
Customers can now have 24/7 access to different markets so they can make their choices and have them delivered to their doorsteps.
To improve the quality of lives of urban professionals, particularly, in the cities with heavy traffic congestion, by bringing the market straight to their homes via PC & mobilegadgets”.
He also added that his company needed to take the market to the people without having them commute long distances to visit several shops/malls to get what they truly want; bridge the retail gap by providing a wide variety of products accessible from anywhere at any time;
have alternative methods and platforms for shopping such as mobile and web and create nation-wide access to different markets to find great offers at no stress, among others.
Considering that massive urbanization, growing economic and professional demands have put the average-working professional under immense pressure to deliver both at work and on the home front, any service that gives 24/7 access to favourite products  and reduce stress is welcome.
No wonder why eCommerce is becoming the next sector to experience massive investment in the near future. It is also not any magic that this market has attracted over N5bn worth of investment in key eCommerce Brands like Jumia, Gidimall, Konga & DealDey.

Tuesday 27 August 2013

Reliance Capital to list proposed bank in three years: Anil Ambani

    Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.

Addressing shareholders of Reliance Capital, the group's financial services arm, Ambani said that immediate benefit of the proposed bank would be a reduction in the company's consolidated debt from Rs 20,000 crore to Rs 5,000 crore.

"Apart from the long-term growth potential of the proposed bank as a profitable institution in itself, the immediate benefit to your company will be the reduction in our consolidated debt from approximately Rs 20,000 crore to Rs 5,000 crore, upon transfer of our Commercial Finance business to the proposed bank," Reliance Capital Chairman said.

The company, which is already present in a host of financial services businesses like insurance, mutual funds and brokerage, submitted an application for banking license in June to the Reserve Bank of India (RBI). R-Cap is one of the 26 entities that have applied for banking licence.

Ambani said that the banking foray would also help improve R-Cap's debt-equity ratio to "a most conservative level of 0.5-1, which is far lower than industry standards".

Stressing that the company was adequately capitalised, Ambani said there were no plans to ask R-Cap shareholders for providing initial capital for the bank.

"We presently have no plans to make a capital call, or ask you for money to invest in the bank, as your company is adequately capitalised.

"However, at the end of three years, we intend to list the proposed Bank, as per existing guidelines, and you may be assured we will fully explore all avenues to benefit our over 12 lakh shareholders at that time," Ambani said.

R-Cap plans to focus on five major businesses - life insurance, general insurance, health insurance, asset management and banking - for future growth, he added.

Ambani-led Reliance Group is present across various consumer-facing businesses like financial services, telecom, energy, power, infrastructure, media and entertainment.

R-Cap has also proposed to partner with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance for its proposed banking venture, with 4-5 per cent stake to each of the two.

RBI has decided to issue fresh banking licences after a decade and the other contenders in the race include Tatas, Aditya Birla group, L&T, India Post, LIC Housing FinanceBSE -6.03 %, Bajaj, Edelweiss, IDFC, IFCI, Indiabulls, India Infoline, Muthoot FinanceBSE -0.55 %, Religare, Shriram Capital, SREI Infra, UAE Exchange, Tourism Finance Corp of India and JM Financial.

New licences are likely to be issued sometime next year.

Ambani also welcomed the new guidelines of insurance regulator IRDA that allow banks to be licenced insurance brokers.

"We welcome the IRDA's new regulations encouraging banks to become brokers and not remain just as corporate agents. Such a transition will benefit hundreds of millions of customers by providing them a wider choice of products from several life companies from each bank.

"This change will also widen distribution and reach for all players, especially newer entrants such as Reliance Life Insurance, and lead to our accelerated growth across the country," he said.

Ambani said that R-Cap delivered robust financial performance in the last fiscal, despite tough economic conditions.

Its total income rose by 13 per cent to Rs 7,519 crore in the last fiscal, while net profit grew by 77 per cent to Rs 812 crore. Its total assets rose 15 per cent to Rs 40,588 crore, while net worth has grown by 3 per cent to Rs 11,991 crore.