Economic Instability Pushing People into Network Marketing

Most people in the world are now embracing network marketing, as a result of the need to make extra income to meet insatiable wants.

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Most economies have  several challenges to contend with, while the people have been at the receiving end of policies, considered to be too harsh.

The need for extra income has become more pronounced,in countries with  economic instability and no one wants to be caught unawares.

Join the growing list of those who have made a decision to get involved in network marketing.  Click here

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The Billion Coin Initiative is Not Multi Level Marketing-MD, Billion Coin Firm

Members of the public have been advised to discountenance the belief that the billion coin initiative is multi level marketing.

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This advise was given by the Managing Director of Famous Delight Global Resources, Ibadan, Nigeria, Mrs. Muslimat Ajani, in a chat with Federationews2day.

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”Investing in the billion coin, is not the same as putting your money in a multi level marketing business and it is  not also a referral business. The billion coin is all about digital money, once you invest, you will continue to receive between one to five percent increase on your investment. The benefits are there for you, once you decide to invest”, Mrs. Ajani stated.

Members of the public, in recent times, have been very cautious in putting their money in several investment schemes, which are a fall out of the economic recession in the country.

Nigerians Should Invest in The Billion Coin-The Coin Master

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 Nigerians have been called upon to embrace the Crypto currency trade as another source of income, as they daily contend with  economic recession in the land.

This call was made by  a promoter of digital currency, Prince(Apostle)  Sunday Ajamu (The Coin Master) in a chat with Federationews2day .

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”My advice to Nigerians is that they should invest in the billion coin,this  will help them to eradicate poverty. A lot of people can earn a steady income. Lack of information make  people to remain in poverty”.

”People should invest in the digital currency, they should seek knowledge,  even if they have to pay of it they should not mind.  We forecast and advice our clients on what they can invest their money on. Training is going on daily at our offices in different parts of  Ibadan”. Prince Ajamu concluded.

Indeed, major cities in Nigeria are now hosts to the promoters of digital currency, who organize training and seminars for interested Nigerians. These Nigerians are anxious to invest in businesses that could provide them with a steady income.

Made in Nigeria Conference Comes Up on 22 June in Lagos

The second edition of a conference targeted at empowering entrepreneurs, who produce goods in Nigeria,  comes up on Thursday,  22 June, 2017 in Lagos.

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The Made-in-Nigeria conference2017 , with first stop at Lagos,  is an international gathering of both local and international Small and Medium Scale Enterprises, converging to rub minds.

The conference conference shall be held  by 9.00 am at NERDC Conference hall, Alausa, Ikeja, Lagos state.

Made  In Nigeria goods and products will be showcased, ideas, innovations and opportunities that abound in the non-oil sector will be explored.
Exhibitors, Manufacturers, Farmers, Agro-businessmen and women, Traders, Fashion Designers, Leatherworks dealers, fabricators, Creative Directors, Trainers, Start-up Owners, will have opportunity to ask questions on their businesses.

Firm Provides Soft Loans for Workers’ Dependents In South West

A financial services company has commenced the granting of soft loans to spouses and dependents of workers in the South West Geo-Political zone of Nigeria, who are yet to receive their salaries for several months from their various state Governments.

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According  to a statement  by must already be engaged in small or medium scale businesses, with verifiable addresses.

It further stated that ‘’repayment of the loan of N100,000 will be made installmentally on a monthly basis over a period of six (6) months at one  per cent (1 %) interest rate. No guarantors are required’’.

The statement directed prospective loan seekers to pick up the registration forms at Common Good International,  Mile 110, Abeokuta road, beside Nustreams Conference and Cultural centre, Railway line, off Alalubosa Estate,Dugbe/ Odo-Ona/Apata road, Ibadan, Oyo state, Nigeria.

For several months now state Governments in Nigeria have been unable to pay the backlog of salary arrears owed workers. This has   resulted in the inability of the workers to meet their obligations to their spouses and dependents, who depend heavily on them of their sustenance.

 

Kenyans Stare At Bleak Future As Job Cuts Loom

As Kenyans marked the 128th international Labour Day, the country’s employment outlook continued to be bleak amid economic uncertainties.

A wave of job losses across sectors including banking, construction, media, agriculture and tourism has caused concerns, with an unpredictable future.

As the country lost its job creation momentum for the first time in four years — managing 832,900 in the formal and informal sectors in 2016 from 841,600 a year earlier — the government maintains a freeze on hiring.

AUSTERITY MEASURES

A December 2016 memo from Treasury Cabinet Secretary Henry Rotich announced cost-cutting measures as it narrowed down to hiring only for essential services such as security, health and education, in the public service.

The 2017 Economic Survey shows that 747,300 of the new jobs, or 89.7 per cent, were in the informal sector, from 713,600 in 2015.

The rest, 85,600, were white collar jobs — meaning the formal employment market lags far behind the number of graduates, with more than 500,000 leaving college yearly.

JOB CUTS

The gap means Kenya’s projected working age growth by nine million in the next decade will present a big headache.

Kenyans continue to stare at looming job cuts, even as the latest data from Kenya National Bureau of Statistics (KNBS) shows the economy grew at 5.8 per cent.

The private sector, which accounted for 67.2 per cent of the new formal jobs last year, expects to see more job cuts.

A recent Kenya Private Sector Alliance (Kepsa) study found that a fifth of Nairobi-based firms plan staff cuts in the next six months, citing an unfavourable business climate.

Banks, microfinance institutions and transport companies foresee staff cuts arising from information technology (IT) disruption and completion of the standard gauge railway.

Other sectors expect a slowdown in growth linked to political uncertainty and harsh weather, which has depressed agriculture, the report says.

RETRENCHMENT

The worst hit in the wave of layoffs that characterised the better part of last year were banks.

The sackings, blamed on a tough economic climate, spilled into 2017.

KCB Group recently unveiled an early retirement scheme in a bid to save Sh2 billion per annum in staff costs.

The bank, whose staff count dropped by 223 last year, had carried out personnel cuts, spending Sh186 million in compensation to the affected employees.

Last October, Sidian Bank announced it was retrenching 108 workers under a voluntary retirement plan to trim its payroll.

Less than a week earlier, Family Bank had made a similar announcement, also citing costs.

The year saw more than 10 major firms implement or announce massive job cuts.

They include Kenya Airways, which started it off by sending home 600 staff, and Coca-Cola, which laid off 80 workers in July.

Airtel had started the year with an announcement to shed off 60 staff members.

INVESTORS HESITANT

The multibillion-shilling railway builder China Roads and Bridge Corporation (CRBC) shocked many when its 109 workers, based at a manufacturing factory in Kathekani, Kibwezi East Sub-County in Makueni County, were paid their monthly dues and told to leave in July.

Come this year, regional lender Bank of Africa Group closed 12 branches around the country, declaring an unknown number of its 520-strong workforce redundant.

The Sharia-compliant First Community Bank (FCB) laid off a third of its workforce — 106.

Ecobank’s decision to close nine of its 29 outlets also came with human capital consequences.

This being an election year, the situation is likely to get worse as most investors adopt a wait-and-see attitude because of political uncertainty ahead of the August 8 General Election.

Source : The Nation Nairobi

Ebonyi Govt. To Engage Unemployed Graduates

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The Ebonyi state Government has indicated  that it would soon  commence a mentorship programme for unemployed graduates in the state.

This is contained in a press statement by the Chief Press Secretary to the Governor, Emma Anya.

According to the statement, Governor David Umahi, made this known during a service to mark the 10th diocesan anniversary and the foundation stone laying of Basilica of Grace Cathedral Church of Nigeria (Anglican Communion, in Afikpo on Sunday.

“There is a programme we want to start in Ebonyi State. By April,we want to start a mentorship programme. We want to start first with civil engineers because I am a civil engineer. We will be calling for three people in each of the 13 local government areas of the state, who are graduates and don’t have anything doing.

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“ We want to start a small recreation course for them. We will bring people from all over the country and also expatriates to train them for one year”.

“They will visit sites and be working on construction sites. After one year, we will deploy them in three companies. We will buy bulldozers, graders and concrete mixers for their companies”, the statement concluded.

Zimbabwe: U.S. Dollar Disappears From Banking System

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Transactional activity in Zimbabwe in recent weeks indicates a slow disappearance of the United States dollar, which is being replaced by bond notes.

The bond notes were introduced last year under the $200 million export incentive to supplement dwindling dollar supplies due to weak exports.

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A survey by Standardbusiness in the central business district last week showed that banks were giving out less and less dollars, which are now available only from Automated Teller Machines (ATMs).

An FBC Bank depositor said the institution was dispensing money depending on the currency they had at the time.

“Sometimes we are given our withdrawals only in bond notes,” the depositor said.

“There used to be days when I received my withdrawals in United States dollars or bond notes while other times it was in both denominations.

“But, most of the time now we are receiving bond notes and very rarely in US dollars.”

Stanbic Bank was giving out $100 in bond notes inside the bank and another $50 in US$ from ATMs, making a total of $150 daily withdrawals.

Cabs was also giving depositors according to the available currency at that particular time.

“It depends on the branch but money is given out based on what the bank has on the particular day,” a Cabs Bank depositor who identified herself as Julia said.

The dollar has also become elusive in supermarkets where customers used to get them through the cashback facility

In an interview with our sister paper, Zimbabwe Independent, RBZ governor John Mangudya confirmed the scarcity of dollars saying banks were holding on to the currency to facilitate foreign payments.

“Each bond note in the economy represents a proportion of up to 5% of the foreign currency earned on exports generated by the economy. It stands to reason therefore that banks are retaining the bulk of foreign exchange for foreign payments,” he said.

“Bond notes will continue to circulate in the economy alongside other currencies in the multiple currency system.”

According to RBZ statistics, $94 million of bond notes are in circulation against an aggregate value of the export incentive of $107 million.

In a recent monetary policy statement, Mangudya said RBZ was putting in place a redistributable measure that mitigated against skewed concentration of bond notes within the banking sector by limiting the maximum amount of bond notes that each bank should hold at any given point in time in relation to its level and type of transactions

“This measure is necessary to ensure that bond notes are distributed proportionately according to the customer base or customer profile of each banking institution,” he said.

He said the move would ensure that bond notes continued to trade at parity with the US$ and to reflect the fact that they were supported by the $200 million offshore facility.

Source : The Standard

Uganda: Labour Exports to Middle East Up By 15, 000

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Kampala — Up to 65, 000 Ugandans are doing odd jobs in the Middle East, the Uganda Association of External Recruitment Agencies (UAERA) says.

This is 15, 000 higher than the number that was working there one year ago.

Most are working as either cleaners, waiters/waitresses, drivers, tailors, construction and factory workers or security guards.

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“Their annual contribution in the form of remittances is $400, 000,” the acting chairperson of the UAERA, Lillian Keene Mugerwa, told the House Committee on Gender, on Wednesday.

The committee had summoned the 63-member association to brief the committee on its business.

“Due to unemployment in Uganda, some of the Ugandans now working in countries like Saudi Arabia, the United Arab Emirates, sold family property to finance their flights to the Middle East,” she said.

“Many were made to believe that the ‘returns’ there would be higher than they would ever make in Uganda.”

The government in January 2016 banned the export of maids.

The ban came on the heels of reports that many were being mistreated by their Saudi Arabian employers.

Ms Mugerwa, who was accompanied by the Managing Director of Middle East Consultants Gordon Mugyenyi, the MD of Magrib Agencies Ltd Catherine Ocen Ssabwe and the General Manager of Horeb Services Ezra Mugisha, urged the government to lift the ban on the export of maids.

They said the ban is not serving the purpose.

“The ban was put into place without taking into account the fact the majority of the workers that were complaining [of mistreatment] had been deployed by [human] traffickers,” Ms Mugerwa said.

“The few licensed companies…stopped. But as we stopped, the traffickers continued to export people to Saudi Arabia. When Saudi Arabia stopped the influx, the traffickers are now taking maids to Oman.”

Serere Member of Parliament, Patrick Okabe, concurred with the recruitment agencies and said the ban should be lifted.

“If we maintain the ban, people will find alternatives,” Mr Okabe said.

Ms Beatrice Anywar, the vice chairperson of the Gender committee called on government should address the reasons that drive Ugandans abroad.

According to Action Aid (2012), six in every ten Ugandans are unemployed.

Some lack the skills employers need.

In other cases, the economy is not expanding as fast as the labour force.

Source : The Monitor

Rwanda: New Minerals Found as Govt Steps Up Exploration

Rwanda has far more natural resources than previously thought, an official familiar with the country’s mineral exploration programme has said.

The revelation comes days after the Government established a fully-fledged statutory body to oversee and coordinate all the exploration and mining-related activities in the country: the Rwanda Mines, Petroleum and Gas Board.

Dr Emmanuel Munyangabe, who the Cabinet on February 3 appointed as the Chief Operations Officer of the new body, told The New Times last week that an ongoing airborne geophysics survey has found deposits of several new minerals in different parts of Rwanda, including rare earth elements, gemstones, cobalt, iron and lithium.

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Rare earth elements are essential in developing high-tech devises in the areas of communication, defence, alternative energy, among others.

The ongoing exercise, which started in October last year and is set to be completed later this month, also established that Rwanda is endowed with more deposits of traditional minerals like gold than previously thought, Munyangabe said.

In January, President Paul Kagame said there were new indications that Rwanda could be rich with previously unknown deposits of minerals and assured citizens all the country’s resources will be exploited in the best interest of the people – brushing aside the narrative of resource curse.

Munyangabe was until February 3 the head of geology and mining department at Rwanda Natural resources Authority (RNRA).

The department has since morphed into the Rwanda Mines, Petroleum and Gas Board, with the Cabinet naming former Rwanda Development Board chief executive Francis Gatare as the new body’s chief executive.

In the latest reforms, the other departments under the former RNRA (land, and water and forestry) will remain under the Ministry of Natural Resources.

“The newly established board will build on what has been ongoing under the previous framework, in the areas of exploration, licensing, inspection and regulation,” Munyangabe said last week.

The restructuring will also see the new body inherit some of the staff from its predecessor department, he added.

“The whole idea is to optimise the resources that we’ve always known to have as a country and new finds,” the official said. “The public has probably seen an aircraft flying over their home with a loop hanging low, these are airborne geophysical surveys that we will continue to conduct until later this month.”

He added: “There are new finds, including resources that we previously had no idea existed in Rwanda, while in other cases we found extensions of existing mineral deposits like gold… the next steps will include to conduct further surveys and analyses to determine the exact components and quantities of the deposits.”

No oil exploration deal

The official also said that renewed efforts will be put into prospecting for petroleum and gas around Lake Kivu, one of the numerous lakes that form the East African rift valley, with geological surveys in recent years in neighbouring countries showing that the rift is endowed with huge oil reserves.

Lake Kivu is already home to methane gas deposits and exploitation is underway, with a power plant having been inaugurated there last year.

The newly established Board, Munyangabe said, will sustain the momentum in ongoing surveys. “We believe we will have completed the geophysical, geological and geochemical analyses by July this year and that will give us a clear picture of the mining and underground resources that Rwanda has.”

“There’s a commitment to diversify the country’s resources”.

Rwanda’s principal minerals have been known to be tantalum (coltan), wolfram and cassiterite and gold – nonetheless the country has not been known to be resource-rich, which partly informed the Government’s efforts to invest in human resource.

Last year, the country generated $160 million (about Rwf134 billion) from the mineral sector.

However, Munyangabe dismissed recent media reports that a local investment company, Ngali Holdings – through its subsidiary Ngali Mining – had won the tender to renew oil exploration, saying “no company is in talks with the government regarding oil exploration at the moment.”

“Once a decision has been taken and a company identified it will be communicated to the public,” he said.

Homegrown skills

Meanwhile, Munyangabe said the Government plans to step up efforts to process its minerals locally, with a casseterite-processing plant set to open in Karuruma, Gasabo District this year. “We are looking for more experts to work with in this effort.”

Digne Rwabuhungu, the dean of the School of Mining and Geology at the University of Rwanda’s College of Science and Technology, welcomed the government’s decision to set up an autonomous body in charge of the mining sector and to have its chief executive as a Cabinet minister.

“It will allow for the country’s vision to easily permeate through the sector,” he told The New Times last week.

He added: “Now that the top leadership has been put in place, what remains is to see how the Board sets up a technical team to implement the institution’s mandate… there is quite a lot to streamline within the sector, for instance, every company that is involved with mining should be supervised closely to ensure that the environment is protected and other standards observed.”

He also called for a deliberate policy to consistently promote homegrown skills in the sector, by among others, including the component of skills transfer in exploration or mining deals that involve foreign firms.

“We need to promote local skills especially among the youth,” he said.

The School of Mining and Geology will hold its maiden graduation in about two years time.

Source : The New Times