Category: People

Woman with bigger biceps than Arnie Schwarzenegger faces down her hateful trolls

A Dutch woman with biceps bigger than Arnold Schwarzenegger has hit back at her haters after dedicating two years to bodybuilding.

Jackie Koorn, 33, has 24-inch biceps, outsizing the famous bodybuilder Arnie. She is a self-proclaimed “She-Hulk”. It was not until she had to take a hiatus from kickboxing in 2020 because of COVID restrictions that she began taking bodybuildling seriously.

But the security company owner has always been into fitness and spent much of her youth participating in judo, football, swimming, and kickboxing. Since then Jackie has more than doubled her body weight she is now a strong 25 stone with 70% of that being pure muscle.

Jackie has Bigger Arms than Arnie ( Image: MDWFeatures/Jackie Koorn)

Jackie has biceps measuirng 24 inches, with legendary bodybuilder and actor Arnold Swarzanegger’s biceps measuring 22 inches in his prime, with a 46 inch chest, 53 inch hip and 41 inch quads. The response Jackie gets from posting her pictures online varies from being called “fat” and “a feminine man” to having proposals of marriage for her perfect body.

Jackie is determined to rise above her online hate. She said: “I am one of six children, our family has a background of playing sports. At a young age I was taking part in judo, football and swimming. I come from a good family, we were always taught if you want something you have to work for it. I think that has carried through into my fitness, I work very hard for my body.

She added: “What led me to build my curvy girl muscle was my temporary hiatus from kickboxing, I always had an interest in fitness but having to take a hiatus allowed me to focus on a different way of using my body, which led me here.”

“Before I got so strong I still felt good, but often tired due to continuous dieting. Now I feel strong, huge, and pretty good. I have built myself up through continuing a good diet and exercise regime. Good food and lifting weights that what you need if you want to grow muscle.

“I’m now cutting so its now so my diet is eight cooked eggs a day, two at breakfast with some cottage cheese and granola, one hour later two cooked eggs again, for lunch it will be two cooked eggs with some chicken breast on a cracker, at dinner I’ll have the last two cooked eggs with some vegetables, spinach, beans or broccoli.

“As I am cutting right now I am taking in 2,200 calories a day, when I am just building it is more like 3,200. My exercise now is starting the day with 100 push ups and 250 sit ups. Then I will do two hours of strength training seven days a week.”

Jackie shares her journey on Instagram and encourages others to embrace their strength and also their curves. Body positivity is a key element of her platform but that doesn’t stop the trolls. Jackie said: “You are called fat, ugly, stupid, transsexual, feminine man, accused of using synthol, anything but nothing stops me. This is curvy muscle the natural way and I do it my way, my unique self.”

She added: “What I do when someone calls me names like that is I delete the comment and then I block the person, I put no weight on negative mindsets, there will always be people that think they know better or can do it better, but this journey is mine and I will do it my way without the negative comments. Honestly, if people are saying nasty things to you on your journey just ignore the negative thoughts or comments.

“I want to bring some new thing to the market, I call it curvy muscle, because I want to have my female curves but also want to have the muscles in a healthy good way. I also get plenty of compliments on my physique, reactions like I want to marry you because you have the perfect body, or you are the perfect woman.

“I am very proud of my body and what it can do, some of my personal bests are 150kg deadlift, I bench press 200kg, I squat 100kg and my leg press push is at 450kg. Go get experience in the gym, don’t be afraid to ask people, everybody starts at the bottom, workout with some friends or family.”

From Passion To Profit: Dance Entrepreneurship In Nigeria, by Qudus Onikeku

Naturally, I’m not one to flaunt personal wealth or openly discuss my financial standing as a dancer and creative entrepreneur despite my long-lasting successful career. However, I want to particularly highlight our newly acquired properties in Lagos as a way to speak about the economic potential of dance.

It may come across as self-indulgence, but let’s address it upfront. Recently, my partner Haji and I acquired a magnificent mansion in the serene neighbourhood of Lekki upon our return to Lagos in May.

After four years of being a research professor at the University of Florida, doubling as the Maker in Residence with the Center for Arts, Migration and Entrepreneurship, where I’ve initiated research in Dance and AI, as well as frequent travels between Florida, Paris, Lagos, and a demanding international touring schedule.

Our decision to fully return to Lagos aligns with our realisation that the Nigerian creative landscape is once again evolving, with Gen Z emerging on the horizon. They are sketching new norms and having expectations, not just working the culture like the millennials did, but also pursuing profitability. They are delving into the culture capital we helped cultivate, ensuring their rightful place on the global stage.

It’s an exciting time, and new bodies and voices are joining the movement, testifying to the interconnectedness of the global black community, spanning Africa, Asia, Europe, America, and the Caribbean. The story of the African dance renaissance is only just beginning, and we think that our unique experience and formula is something very significant we can offer.

Despite the prevalent trend of Nigerians emigrating to Europe and North America due to the current “Japa syndrome,” many are equally migrating with the culture, spreading the gospel to previously remote regions of the world, Afro dance culture has truly become a global phenomenon, returning to Lagos, however, is undoubtedly the wisest choice for us.

The QDance brand has achieved remarkable local and international success, boasting a significant profit margin. As a start up with less than a decade of entrepreneurial improvisation, we can proudly claim the status of a million-dollar company. With this achievement, it became imperative for us to go back to the drawing board and strategise anew for the future.

Investing in real estate to support the upscaling of the QDance Center became top in our priority. As our estate agent showed us various properties, allowing us to explore options that suited our preferences for tranquillity and aesthetic appeal amidst our upcoming workload, a particular white house in a private residential estate in Lekki immediately caught our attention.

While silently admiring the house, the agent casually mentioned, “By the way, Asake acquired the neighbouring property a few months ago.” He intended this remark to justify the high price and perhaps influence our decision-making process.

Indeed, Asake has become our neighbour for almost two months. For those who may have been disconnected from the goings of the Afrobeats world for the past year, let me introduce you to Asake and his remarkable rise to fame in the Nigerian music scene.

Asake is undoubtedly a miraculous talent, emerging as one of the most significant Nigerian artists in the past one year. The 28 years old super star is signed with Olamide’s YBNL in February 2022, and by extension he immediately enjoyed a deal with Empire music for international distribution.

This collaboration allowed him to break numerous international records and win several local and international awards with his debut album “Mr Money with The Vibe”, his sophomore album “Work of Art” was released to critical acclaim less than a month ago, and he has been on a nonstop tour since his rise to fame.

What makes Asake’s story particularly noteworthy here is that he is actually a graduate of theatre arts from Obafemi Awolowo University. Asake, who specialized in dance during his studies, began his career as a dancer. Like many dancers, he ventured into music out of necessity. It provided an opportunity to use music in his performances without the risk of copyright infringement on digital platforms.

Moreover, if his work went viral, he could directly benefit from the royalties it generated. Additionally, it’s worth considering that Nigerian dancers often harbour the belief that pursuing music or acting is the sure path to a successful career, I have lost count of how many known Nigerian music or movie stars or on air/TV personalities who actually began their career as dancers.

It’s clear that if Asake had continued solely as a dancer, his name would likely remain unknown, let alone being the owner of a mansion after a breakthrough in less than a year. Dancers, particularly in Africa, often face precarious circumstances, and to have a long-lasting successful career solely in the dance field is such a rarity.

However, let me assert that personally, I am a stubborn believer in the potential of dance and its capacity to lead to a financially successful career, for that’s all I’ve ever done in my life since the young age of 13 when it all began.

We don’t all have to veer off into music or other genres to achieve such success if that is one’s life goal, I want to believe that I’m a living testament, that it is indeed possible to thrive purely as a dancer, albeit through hard work, a clear vision, commitment, and resilience.

I firmly believe that dancers are the lifeblood of the creative industry. Unfortunately, the value they bring is often not commensurate with the income they generate.

Clients who seek the services of dancers in Nigeria span various domains, including music video producers, corporate organisations, fitness enthusiasts, event planners, NGOs, diplomatic missions, political organisations, marketing, communication, Ad and PR agencies, brands, nightclubs, schools, festival organisers, dance presenters, curators, visual artists, filmmakers, animators, game designers, software engineers, general dance enthusiasts, parents, and the list goes on.

Dance is always in demand. However, due to the lack of an entrepreneurial mindset among dancers and the improper structuring of their value proposition, their labour and creative energy are frequently undervalued, under-priced, and ultimately underpaid.

This is precisely where the QDance brand stands out. In our organisational chart, the artistic director and the managing director share equal burden and possess equal power and stake. We recognised that innovation usually happen when two or more sets of knowledge collide.

Often, art and business operate in different worlds, our ability to operate ‘at the edge’ led to new ways of doing. Over the years, we operate as a social/cultural enterprise, combining high-level creative dancing, social and community engagement, talent development, research, services, and artistry with a strong entrepreneurial practice. Our aim is to ensure that the value we bring is matched by the income we generate.

We have embraced an approach that allows us to merge passion and profit, demonstrating that dance can be a sustainable and financially rewarding career choice, with the capacity to create real jobs in a country like Nigeria, where the economic priorities make it almost impossible to make such bold statement.

When Haji and I co-founded the QDance Center in 2014, the creative landscape was still in its early stages. Despite the booming creative industry, dance remained largely marginalised. We were determined to change that.

We invested our life savings, time, and every resource at our disposal, placing a significant bet on our convictions. Over the years, Afrobeats music and its accompanying dance culture gained widespread popularity, exerting influence on music and dance cultures worldwide. The music industry became a substantial source of income for many Nigerian youths.

We firmly believe that the Nigerian dance scene is the rising industry of the Gen Z; the digital native generation characterised by their openness to diverse bodies and inclusion, entrepreneurial spirit driven by their exposure and pursuance of creative ventures, self-reliance, social consciousness, and preference for visual and interactive learning.

Despite the continuous stream of innovative, viral, and ground-breaking works produced by dance artists in digital platforms, on the international club scene, on music videos, at international dance battles, and award-winning contemporary dance pieces, the full potential of this hyper-creative and energetic industry has yet to be realised due to a lack of significant investment and infrastructure. Entrepreneurship is the ability to identify a problem, and creatively solve that problem, for the people that needs it.

Our entrepreneurial muscles are therefore, being channelled to transform dance to an art form, a communal practice, an idea, and a service in demand, by finding the necessary resources – money, people & stuffs – to turn it into a profitable career for a new and vibrant generation of dancers. Our success story over the past decade has proven that dance is a profitable venture if properly harnessed, and the business model we’ve developed is surely transferable.

In addition to the property in Lekki, we have also invested in another property in Lagos Island, which will serve as the permanent station for the QDance Center. Currently, we are renovating as we undergo a major expansion of our team to support our upscaling plan, codename QDance CREATES.

This plan includes the development of a robust community engagement program, a research lab for culture and technology, an educational program for dance and music production and practice, artistic residencies, and more international productions with the QDance Company, training exercises for dance in health, as well as entrepreneurship in dance programs, and services in entertainment consultancy, restaurant, and venue rentals.

Our activities will be housed in a four-level architectural masterpiece, where we will engage in both educational and community initiatives to nurture the next generation of dance artists.

The centre will be equipped with a 150-audience capacity theatre for live shows, four dance studios for full-scale rehearsals, four digital studios for audio-visual recording projects, which includes a Dance and AI lab for research in culture tech. In the media lab, we will equally develop software and hardware research to support the incredible work that creatives are doing on the continent.

In conclusion. Every great dreamer can paint a beautiful future with the colours of their passion, hard work, and determination, but it always takes a village to achieve any great feat. We are particularly excited to witness how our endeavours in the next one year will once again reshape the choreographic landscape of the continent and, by extension, the Nigerian creative economy.

We call upon dancers to take advantage of this investment as we announce our various offerings. We also invite other professionals to join our formidable management team. We always need skilled volunteers who can offer valuable time.

Finally, we extend our call to the general public, funders, and supporters who share our passion and vision, to partner and work with us, this is something epic and unprecedented, won’t you rather be part of

a team that made history together?

Why is A for Apple in a country where apples don’t naturally grow?

The common pedagogical approach with which many of us were introduced to the English alphabet is a metaphor for all the anomalies and confusions that characterise Nigerian education at all levels. First off, going from the minor to the major issue, one wonders what exactly is being taught when teachers say A for Apple. Are we being taught letter A or sound /ˈæ/? When they say C for Cat, are we thinking of letter c or sound /k/?

While this, for starters, is a pedagogical deficiency which I am not out to address in this essay, the bigger concern is why A cannot stand for Agama which the African child can easily find on his way home from school. Apple is the fruit for the well-to-do families. You must have a healthy esteem to say publicly that you prefer orange to apple. You might be thought of to have entered into a covenant with poverty. The metaphor of apple has a great ideological conditioning for Nigeria and its effect gets wider by the day.

The negative implication of this analogy manifests in several perspectives– social, psychological, religious and educational.

Socially we have come to attach importance to anything that is foreign such that Italian shoes are for the socialites and “Aba” have to be for the poor. At the level of religion, the Christians and Muslims are entitled to several holidays in a year while the traditional worshippers have to beg for one day holiday in their own land. Psychologically, the Nigerian youth can call you all sort of names if you think they need not “japa” (leave the country) to enjoy a good life. And to my concern: education.

Now in Nigeria, you must be doubting the paternity of your children to let them have their tertiary education in Nigeria unless you cannot afford it. Well, let us not scratch the part of these children returning to practice law, journalism, medicine and other professions in Nigeria without native intelligence. Shall we take a step farther? If our so-called international conferences must be one of the most talked about on campus, then you have to get the keynote speaker from South Africa if you cannot afford the cost of bringing one from South America.

Remember too that even a local journal in Nigeria may reject your submission if you have not applied a “foreign” theory that may have no contextual relevance to your inquiry. And of course you are not a first-class professor if you have not published in those foreign high-impact journals. Your doctorate is a local piece if you have not got a postdoctoral fellowship from the white. Of course nobody sees your impact on your campus until you get a foreign validation when you travel for a conference or you are invited by the almighty white for a presentation.

When will A stop being for Apple in Nigeria? When will we find our bearings? When will our education suit our purpose and solve our problems? When will education mean more than certification in Nigeria? When will ingenuity be restored into our education? When will final year projects be aimed at addressing issues and stop being a ritual for graduation? When will we take clue from the Nigerian hip-hop artistes who have established throughout the world that the “Afro version” is a unique musical flavour?

When will A stop being for Apple in Nigeria?

 

(Vanguard)

Dr. Ganiu Bamgbose (PhD) writes from the Department of English, Lagos State Un

iversity, LASU.

 

How John Cena scored F9 spot

John Cena has come a long way from the ring to movie debut and DC Extended Universe. But the star got his big break in Hollywood by appearing in the Fast series.

 

Appearing alongside some of the biggest action stars like Vin Diesel completely changed his persona in the eyes of the mainstream public. Just like how Fast Five was instrumental in Dwayne Johnson’s career, the same could happen with Cena’s career.

 

But unlike Johnson, Cena has always talked about Diesel in a positive light. Being the brother of Diesel’s character in the movie puts that much pressure on Cena to perform well. But not as much pressure as the first time Cena met the man behind the success of one of the longest-running action franchises.

 

John Cena revealing tidbits about his first meeting with Vin Diesel, talked about Fast X; from the cast, and the movie to his connections with the series and the OGs of the franchise. Cena had an interesting story to share at the very least when asked how he got the gig.

 

First, Cena mentioned that Diesel called him to meet with the action star. So he readily agreed and found himself in the Toretto dojo, where Diesel trains. So while he sat, Diesel came out and talked to Cena, but there was no mention of the movie. Instead, they were talking about life and philosophy.

 

“He’s live on Instagram, 60 million followers, and he’s like hey kid you’re on. He’s like inviting me to the movie and I haven’t got the job from anyone at Universal, but I was in the movie because I had Vin Diesel’s blessing,” Cena said.

 

But as he mentioned in the interview, he wasn’t able to speak up at all. If you would like to watch it, the video of Diesel’s meeting with Cena is still on the actor’s Instagram feed. But this confirmed one thing: Cena was now a part of the upcoming movie, F9. It was a big revelation, but did Cena gain a boost after his appearance in the Fast series?

 

Just after the Fast series, a month later, Cena would make his DCEU debut in The Suicide Squad. Even with juggernauts like Margot Robbie and Idris Elba, Cena stood out as a captivating presence on the screen. It could be the influence of working with Diesel on F9, but Cena would later credit the man for his uptick in his acting career as well.

 

Then, Cena starred in the first TV series where he was the main lead. Shattering expectations, Peacemaker became a surefire hit, with both fans and critics. Now, Cena is gearing up to appear in his second Fast movie and he couldn’t be happier.

Entrepreneur and top model Nera Lešić was on the list of the best dressed during the Cannes Film Festival, and walked on the Red Carpet 5 times

Nera Lešić is already well known in the world, and just one of the successes of this young entrepreneur is her sixth appearance at the prestigious Cannes Film Festival. During the festival, Nera shined on as many as five red carpets, she had the honor of wearing the fasion shows of famous designers during the festival, which further emphasized her impeccable sense of fashion and trends, providing extraordinary inspiration to fashion enthusiasts around the world with her appearance and style.

Nera Lesic was also named one of the best dressed during the Cannes Film Festival along Naomi Campbell and Scarlett Johansson and other famous world stars by the British magazine Hello!

Link: https://www.hellomagazine.com/hfm/493074/cannes-film-festival-2023-best-street-style-moments/

“It is an honor to be invited to the Cannes Film Festival for the sixth year in a row and to share this incredible experience with talented filmmakers, modern experts and media around the world,” said Nera. ˝Walking the red carpet next to Scarlett Johansson, Tom Hanks, Rosie Huntington-Whiteley, Heidi Klum and many other stars, being invited to Naomi Campbell’s 53rd birthday celebration in Cannes is really unreal.˝

She also attended several premieres, among which the film “Hypnotic” stands out, with an exceptional cast led by Ben Affleck and William Fichtner. Nera was delighted with the film, but also with the actors she talked to after the premiere.

˝It’s not easy to get invitations to the Cannes Film Festival, that’s why I really appreciate the opportunity that was given to me. Just some of the movies I watched are Premiere club zero, Rapito (Kiddnaped), La passion de dodin bouffant, Il Sol dell’avvenire and Hypnotic starring Ben and William. I had the honor of sitting next to William and filmmaker Robert Rodriguez. After the premiere, I personally spoke with William, who is an extremely nice and modest man.˝

The founder and creative director of the underwear brand NERA lingerie, which has already presented its brand at Fashion Week in Milan and Dubai, has recently opened two Pop-up Stores in London. That is why it is not surprising that the highlight of her stay in Cannes was the fashion show of her own brand NERA lingerie, at the exclusive final part of the Cannes Film Festival in the beautiful Villa in the center of Cannes. The fashion show attracted a lot of attention from the guests with a combination of elegance and sensuality, showing Nera’s brand as a symbol of self-confidence and femininity.

“Cannes is a place where art, fashion and the film industry meet, and I am proud to be a part of that event and promote my passion for fashion through NERA lingerie. Thank you to everyone who supported me and enabled me to realize my dreams. ” – concluded Nera.

EU financial sector resilient, but fragile, European Central Bank official says

 

May 31 (UPI) — Efforts to control inflation in the European economy run the risk of creating “vulnerabilities” in the banking sector, where conditions remain fragile, the vice president of the European Central Bank said Wednesday.

The ECB highlighted potential economic risks in the May 2023 Financial Stability Review published Wednesday.

Concerns about the health of the global financial sector emerged in the wake of the collapse of Silicon Valley Bank in California in March. Looming fears about a repeat of the recession from the mid-2000s spread to other financial institutions, leading to a shotgun wedding of sorts between troubled Credit Suisse and Swiss investment bank UBS.

Luis de Guindos, vice president of the European Central Bank, said Wednesday that efforts to keep prices stable are essential for a healthy market, though that could result in some collateral damage.

“(A)s we tighten monetary policy to reduce high inflation, this can reveal vulnerabilities in the financial system,” he said. “It is critical that we monitor such vulnerabilities and fully implement the banking union to keep them in check.”

Banking officials told U.S. lawmakers there were subject to a contagion effect, with depositors pulling billions of dollars out of their accounts in a matter of hours amid fears of a broad-based collapse. But officials weren’t convinced.

“The simplest explanation is best,” said Sen. Sherrod Brown, D-Ohio, the chairman of the Senate Banking Committee. “It is first and foremost the bankers’ fault that the banks crashed.”

In Europe, ECB President Christine Lagarde expressed concern that downside risks from “recent financial market tensions ” raised doubts about the bank’s estimate that headline inflation would fall from around 8% to 2% by 2025.

“Some of this uncertainty will recede as the fallout from recent events in financial markets becomes clearer,” she said. “But faced with overlapping shocks and shifting geopolitics, the level of uncertainty will most likely remain high.”

So far, however, her deputy said banks in the EU have been resilient to the stresses witnessed in the U.S. and Swiss financial sectors, through policymakers need to ensure that resilience is preserved.

Banks, it was suggested, may need to set aside more funds to cover any losses and manage their credit risks appropriately.

 

Digitalise borders to unlock Africa’s full potential

Africa’s immense potential to become a global powerhouse is undeniable.  It has all of the ingredients including a market of 1.2 billion consumers (rising to 1.7bn by 2030) and a combined GDP worth US$2.5 trillion.  So what is holding it back?

The African Union’s (AU) members have all indicated their support for and recognition of the benefits of the Africa Continental Free Trade Area, the Single Africa Air Transport Market and the Free Movement of Persons Protocol.  All of them are intended to unlock free trade, tourism, economic opportunities and promote widespread prosperity across the continent.

At the SITA Borders Management Africa Summit in Nairobi this month, speakers and delegates from governments across the continent identified and discussed solutions to resolving the biggest hinderance to these AU flagship programmes realising their full potential, i.e. efficient borders to enable the frictionless flows of people and goods.

In our deliberations we were continually reminded that it is easier and faster to transport mobile phones from China to Africa than to move a few bags of maize across an African border post.  At the root of this are inconsistencies in the criteria and processes applied by immigration and customs authorities for issuing visas, travel authorisations, goods import and transit permits, the use of unsuitable and often incompatible equipment and the vulnerability to agile international organised crime and terrorism.  All of these have to be tackled with shrinking budgets and diminishing resources.

Therein lies the rub: For economies to grow and a free trade area to work, governments need to balance protecting their countries from trafficking, terrorism, pandemics, and crime while making it easier to move people and goods across their borders and at the same time respecting personal data privacy and its underpinning legislation.

The good news is that proven digital border management technology and emerging digital identities put Africa in pole position to lead the way. A key advantage for Africa is that it faces fewer legacy challenges in the digital space and in many ways, it can move faster. The digital transformation of borders will be inevitable if the continent is to achieve its ambition.

Recognized benefits
Airlines and airports understand the potential of digitalizing border processes. At the coal face of international travel, the industry has long recognized the need for digital immigration processes. The challenges of COVID accelerated this trend. For example, SITA’s 2022 Air Transport IT Insights showed that 75% of airline executives will ​invest in passenger biometric identity solutions by 2025. This means passengers will be identified by a simple facial scan, making the identification process fast and secure.

However, it can’t be done by one industry in isolation. It needs government and broader industry support.

SITA is leading the way
SITA, the global air transport industry-owned IT and solutions provider, is leading this push. Over the past 30 years, SITA has helped 70 governments – including South Africa and Egypt – make their border crossings faster and more secure.  We pioneered what is now the global standard for Advance Passenger Information processing and we are helping governments digitalise key immigration processes so that they can be completed ahead of travel.  This helps governments to effectively extend their borders and assess who enters their country long before they arrive. Travelers, on the other hand, only have to complete a simple check on arrival.
The benefit of this approach has been shown to work time and again, particularly at big sporting events such as the World Cup. We helped South Africa in 2010, Brazil in 2014, and Qatar in 2022 to manage the vast influx of visitors.

Digital identities will take this to a new level. Driven by the UN’s International Civil Aviation Organization, which sets global passport standards, the industry is shaping a new digital identity that will replace physical documents such as identity cards or passports. A key driver is that holders will choose what data they would like to share with whom. It is privacy by design. These digital identities can be used at the airport but also at land and sea borders or other touchpoints, such as hotels or major events, as we did in Qatar for the World Cup. All that is needed is a simple scan of your face a biometric touchpoint or on your mobile phone. We see these digital identities being extended to goods and services.

Together these technologies will reshape how borders are managed.

Making free trade a reality
The technology exists today to make an African free trade area a reality. It allows the balancing of protectionist measures to keep national borders safe with a more welcoming face to visitors. It is scalable. And it is inclusive, allowing all elements of public life to be managed from a single identity.
With the right support from governments across Africa, we can pull many levers to unlock free trade and tourism across the continent. Policy and intergovernmental co-operation the two most obvious but digitalization must surely be essential among them.

The writer is the Senior Vice President, SITA at Borders

Human Capital Investment Essential to Lao National Development  

The Government of the Lao PDR has committed to improving the quality of basic education, enrolling all children and keeping them in school, and improving education financing. Prime Minister Sonexay Siphandone read the National Statement of Commitment to Accelerating Learning Recovery at the first Lao Human Capital Summit today.

Human capital is the knowledge, skills, and health that people accumulate throughout their lives, enabling them to reach their potential as productive members of society. Laos currently has a low human capital ranking, and this first Lao Human Capital Summit sought agreement on how the country can boost its opportunities by investing in its people early, investing efficiently and investing for all.

The summit brought together central and provincial government leaders, under the guidance of the prime minister and the Ministry of Planning and Investment, along with education experts, development partners, civil society and the private sector, to reassess how Laos can accelerate learning and allocate enough resources to bring its schools and learning outcomes up to the standard needed to build a strong economy.

Prime Minister Sonexay told the meeting, “Human capital is a decisive factor in our socio-economic strength and sustainability. The government of the Lao PDR is fully committed to ensuring quality education for all children as defined in the Ninth National Socio-Economic Development Programme. The goal is to ensure an education system that can develop human capital with knowledge, skills, health, and a love of lifelong learning, thereby creating people who can contribute significantly to the development of society”.

Ms Pia Britto, UNICEF Country Representative, explained that Laos currently has a very low human capital ranking relative to its neighbours and economic potential. “The Lao Human Capital Agenda champions investment in people as a growth strategy for the country. When a child born in the Lao PDR today grows up, she will be less than half as productive as if she enjoyed complete education and full health. This is something that must be addressed to ensure a prosperous future”.

Mariam Sherman, World Bank Country Director for Myanmar, Cambodia, and the Lao PDR, told the meeting that the COVID-19 pandemic hit education hard in Laos, with a World Bank survey showing that almost 42% of children stopped attending classes during lockdowns. “A critical challenge facing the country now,” she said, “is how to help children and students catch up with their learning at a time when the economy is struggling”.

At the summit, the government and its partners discussed a national Human Capital Agenda, which will promote investment in the formative years of life for every Lao citizen. By providing basic health care, adequate nutrition, clean water and sanitation, and access to quality education, the country can offer all its people the chance to develop to their highest capacity.

For more information,kindly visit www.worldbank.org/news

 

Dangote oil refinery launched in Nigeria

 Africa’s biggest oil refinery has been opened in Nigeria, where it is hoped it will alleviate chronic fuel shortages.

Nigeria is a major oil producer but most of this is sent abroad while it has to import the refined fuel used in vehicles and elsewhere. As a result the country often faces chronic fuel shortages. This is the problem that the $19bn (£15.2bn) refinery, owned by Africa’s richest man, Aliko Dangote, is intended to tackle. “This is a game-changer for the Nigerian people,” said President Muhammadu Buhari. The plant, which is not yet operational, has the capacity to produce about 650,000 barrels of petroleum products a day – more than enough to supply the country’s needs. It also includes a power station, deep seaport and fertiliser plant.

Nigeria’s existing refineries have been completely shut down for over three years owing to oil theft, pipeline vandalism and structural neglect. If it works as planned, the plant could make a real change to the lives of Nigerians: “Every time there is fuel scarcity, I don’t open my shop because there’s no light [electricity] to work and I can’t buy fuel for my generator,” a young hairdresser from Lagos told the BBC.

At Monday’s launch, Mr Dangote outlined his hopes for the refinery: “Our first goal is to ramp up production of  the various products to ensure that within this year, we are able to fully satisfy the nation’s demand for quality products.”

However, it is not clear what impact the plant will have on the price of fuel in a country where retail prices are subsidised. The government says these subsidies will soon be removed – last year they took up at least a quarter of the national budget.

Mr Dangote’s plant in Lagos, which took nearly seven years to build, is said to be the world’s largest single-train refinery, meaning the plant has one integrated distillery system which can produce a variety of products and petrochemicals, instead of  having different units for each type of product.

It is one of the last major projects to be inaugurated by President Buhari, who steps down next week after serving two terms in office.

President Buhari will hand power to Bola Tinubu, who won disputed presidential elections in February.

Oil and gas expert Henry Adigun told the BBC that Monday’s launch was “more political than technical”.

Culled from BBC news.

France: EIB Group and BNP Paribas sign new securitisation operation to support small businesses and mid-caps

For the third time since 2017, the EIB Group — the European Investment Bank (EIB) and the European Investment Fund (EIF) — and BNP Paribas are launching a synthetic securitisation operation to support French companies.

The transaction consists of an EIB Group guarantee on an existing portfolio of loans granted by BNP Paribas to French small and medium-sized enterprises (SMEs) and mid-caps.

The guarantee enables BNP Paribas to free up part of the regulatory capital allocated to this portfolio, and to deploy €515 million in new loans to SMEs and mid-caps in France over the next two years.

These new financing operations may take the form of bank loans or leasing transactions. The on-lending arrangement granted by the EIB will enable beneficiaries to enjoy enhanced preferential financial conditions.

BNP Paribas Head of French Retail Banking and member of the Executive Committee Marguerite Bérard said: “With the success of previous transactions with the EIB Group, we are thrilled to now be able to commit to making €475 million in new financing available to SMEs and mid-caps at reduced rates over the next two years. This financing comes in addition to our many support schemes for corporate clients designed to accommodate, as closely as possible, the local economic reality. With a view to helping our customers accelerate their energy transition, enhancing the financing conditions for sustainable assets is one part of a long-standing BNP Paribas approach, which includes the use of impact financing.”

EIB Vice-President Ambroise Fayolle explained: “With their third joint securitisation since 2017, the EIB and BNP Paribas are continuing their efforts to facilitate access to finance for SMEs and mid-caps. Financing these entities is an EIB priority — one to be achieved by working with our banking partners to develop attractive credit solutions that help sustain business operations and support investment.”

EIF Chief Executive Marjut Falkstedt added: “The EIF is pleased to be working with BNP Paribas to use our securitisation tools to provide additional resources to SMEs and mid-caps. The BNP Paribas group is a long-standing and trusted partner for the EIF, enabling it to provide effective support to French companies in their search for financing for their investments.”

Culled from European Investment Bank

To learn more about the EIB, visit www.eib.org

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