SpidNews, Jobs Africa: September 2013

Saturday 28 September 2013

SpidNetworking's 13th event holds today, Saturday, September 28, 2013 at Protea Hotel Ikoyi, 11am

Wednesday 11 September 2013

South Africa sells $2 billion of bonds

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South Africa sold $2 billion of 12-year bonds in overseas debt markets after boosting the size ofthe offering. The country issued the bonds due in 2025 to yield 6 percent, or 3.15 percentage points above U.S. Treasuries, Monday. It had originally planned to sell $1.5 billion of the debt to yield as much as 3.3 percentage points above Treasuries, according to a person familiar with the offering who asked not to be identified because he’s not allowed to speak publicly.

South Africa tapped the market after investors pulled $22.1 billion from emerging-market bond funds since the end of April amid speculation the U.S. will curb stimulus. The withdrawals are almost five times the amount taken out of U.S. corporate debt, according to EPFR Global.

“Despite the headline risk, there’s money to put to work in emerging markets,” said Luz Padilla, manager of the $664 million DoubleLine Emerging Markets Fixed Income Fund.

Russia, which shares South Africa’s BBB rating from Standard & Poor’s, sold $6.96 billion of euro and dollar bonds due in five, seven, 10 and 30 years Monday, Bloomberg reports. It issued 10-year securities to yield 220 basis points over Treasuries. The 6 percent that South Africa agreed to pay on Monday is up from 4.665 percent, or 270 basis points above U.S. Treasuries, when it sold notes due in 2024 in January 2012.

South Africa’s central bank forecasts the nation’s economy will grow 2 percent this year after expanding 2.58 percent in 2012 as labour unrest in mines shaves 0.3 percentage point off growth,

President Jacob Zuma said in June. The country, which has the world’s largest-known reserves of platinum and chrome and is the sixth-largest producer of gold, relies on minerals for more than 50 percent of its exports. Wall Street’s biggest firms are predicting intensifying bond losses in emerging markets, where borrowing costs have already soared to the highest in more than four years versus U.S. corporate debt, as the Federal Reserve considers curtailing record stimulus.

Borrowing costs are soaring from record lows reached in January as speculation deepens that the Fed will curtail its so-called quantitative easing as soon as this month, signaling an end to the flood of cheap money that’s propped up asset prices from India to China and Indonesia.

The exodus from developing nations began after Fed Chairman Ben S. Bernanke told Congress on May 22 that the central bank could scale back the pace of its $85 billion of purchases of mortgage bonds and Treasuries if the U.S. economy showed sustained improvement.

Source: Business Day Online

Hertz Ghana Begins Operations

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LEASAFRIC, the biggest leasing company with a portfolio of non-bank financial institution has launched Hertz Ghana as the world’s number one logistics and transportation service to corporate Ghana.

Hertz Corporation, a subsidiary of Hertz Global holdings Incorporation is an American car rental company with international locations in 145 countries worldwide, whiles operating a fleet of over 550,000 vehicles from 6,300 locations.

Speaking at the launch of Hertz Ghana, the President of Ghana Chambers of Commerce (GCC), Mr. Seth Baah, also a Member of Parliament (MP) for Nkawkaw, retreated that corporate Ghana can not survive without the services of transportation and logistics, which all kinds of commerce depend on.

“This is why Hertz was able to see into the future to recognize the importance of global travels and establish a car rental network to service that demand”, he added. “We are confident with its entry to Ghana, that all sectors of the economic life of Ghana is assured of total logistics package/solutions with value added services streamlined to cater for the Ghanaian’s ever dynamic lifestyle because Hertz services will align with the Government’s objectives to provide seamless transportation for its citizenry and serve as a catalyst for economic growth”, Mr. Baah stressed

Source: World leasing News

Thursday 5 September 2013

Tycoon plans Nigeria's largest oil refinery

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A company run by Africa's richest man received a loan toward a $9 billion project that will give Nigeria its largest oil refinery and petrochemical and fertilizer complex, reducing the country's reliance on international markets. Aliko Dangote, president of Dangote Group, signed a loan worth $3.3 billion from 12 Nigerian and international banks toward the project which will be built in Nigeria's southwest.

"At the completion of these projects we expect Nigeria to become not only self-sufficient in fertilizer and refined petroleum products but indeed to become recognized as a leading exporter of these products," Dangote said at Wednesday's signing.

Nigeria is Africa's biggest oil producer, and is a top supplier of crude to the U.S., but the West African country has to import most of its fuel because of decrepit refineries unable to meet the nation's demand for gasoline due to years of mismanagement and sabotage.

The 400,000 barrels-per-day oil refinery and complex will become operational by 2016, the company said. The plant will also produce 2.8 million tons of urea for fertilizing crops and to produce polypropylene, used to make plastics, a statement said.

Dangote said the company is still seeking an additional $2.5 billion in development funds to augment the $3.5 billion of its own equity put into the project. The $3.3 billion loan deal was led by Standard Chartered and Nigeria's Guaranty Trust Bank.

Dangote's estimated worth is $16.1 billion according to Forbes, which has also ranked him among Africa's richest men for the past few years. The Nigerian has made his wealth in cement, flour and sugar

Source: Chron.com

Monday 2 September 2013

Apply for the 2014 Chevening Scholarship for study in the UK

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Foreign and Commonwealth Office (FCO) and partner organisations offer Chevening scholarships for masters students. The programme provides full or part funding for full-time courses at postgraduate level, normally a one-year Master’s degree in any subject and at any UK university. Chevening scholarships cover tuition fees, a living allowance at a set rate (for one individual), an economy class return airfare to the UK and additional grants to cover essential expenditure. Some Scholarships cover part of the cost of studying in the UK; for example, tuition fees only or allowances only. The application deadline varies from country to country.

Study Subject(s): Scholarships are provided to study any subject at any UK university.
Course Level: The programme provides full or part funding for full-time courses at postgraduate level, normally a one-year Master’s degree at any UK university.
Scholarship Provider: Foreign and Commonwealth Office (FCO) and partner organisations
Scholarship can be taken at: UK

Eligibility: Applicants must:

-Meet the academic requirements for their chosen course(s) of study;
-Have a good standard of written and spoken English, and meet the Chevening Scholarships language requirements as well as the language requirements of their chosen course(s) of study;
-Be a citizen of a Chevening country
-Have a minimum of two years’ work experience;
-Not be employees, relatives of employees, or former employees (who left within the past two years) of Her Majesty’s Government (including British Embassies and High Commissions), a partner (sponsor), a sponsoring UK university, or a staff member of the Association of Commonwealth Universities;
-Not have previously studied in the UK under a UK Government-funded scholarship;
-Not have dual British nationality (unless you are a Citizen of a British Overseas Territory).

Scholarship Open for International Students: The students of Chevening country (Afghanistan, Albania, Algeria, Angola, Anguilla, Antigua & Barbuda, Argentina, Armenia, Australia, Azerbaijan, Bahamas, Bangladesh, Barbados, Belarus, Belize, Bermuda, Bhutan, Bolivia, Bosnia Herzegovina, Botswana, Brazil, British Overseas Territories, Brunei, Burma, Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Colombia, Costa Rica, Croatia, Cuba, Djibouti, Dominica, Dominican Republic, Democratic People’s Republic of Korea, DR Congo, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Ethiopia, Falkland Islands, Fiji,Gabon, Gambia, Georgia, Ghana, Grenada, Guatemala, Guinea Bissau, Guyana, Haiti, Honduras, Hong Kong, Iceland, India, Indonesia, Iran, Iraq, Israel, Jamaica, Japan, Jordan,Kazakhstan, Kenya, Kiribati, Kosovo, Kyrgyzstan, Laos,Lebanon, Lesotho, Libya,Macedonia, Madagascar, Malawi, Maldives, Malaysia, Marshall Islands, Mauritius, Mexico, Micronesia, Moldova, Mongolia, Montserrat, Montenegro, Morocco, Mozambique,Namibia, Nauru, Nepal, New Zealand, Nicaragua, Nigeria, Palestinian Territories, Pakistan, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn Island,Republic of Congo, Russia, Rwanda, Samoa, Sao Tome and Principe, Senegal, Serbia,Seychelles, Sierra Leone, Singapore, Solomon Islands, Somalia, South Africa, South Korea, Southern Sudan, Sri Lanka, St Helena, St Kitts & Nevis, St Lucia, St Vincent & Grenadines, Sudan, Swaziland, Syria, Taiwan, Tajikistan, Tanzania, Thailand, Trinidad & Tobago, Tonga, Tunisia, Turkey, Turkmenistan, Turks and Caicos, Tuvalu, Uganda, Ukraine, Uruguay, Uzbekistan, Vanuatu, Venezuela, Vietnam, Yemen, Zambia and Zimbabwe) can apply for these scholarships.

Scholarship Description: Chevening Scholarships are the UK government’s global scholarship programme, funded by the FCO and partner organisations. National merit-based competitions in 118 countries are run each year and Scholarships are awarded to outstanding established or emerging leaders to pursue one-year Master’s degrees in any subject and at any UK university. Initial application is facilitated via the eChevening online system. Typically, up to 25,000 applications are received. These applications are first reviewed against certain eligibility criteria and those that make the cut are then sent to Reading Committees for assessment. The Chevening Scholarships Secretariat is seeking both Eligibility Reviewers and Reading Committee members.

Number of award(s): Not Known

Duration of award(s): Scholarships are awarded for one year.

What does it cover? Chevening Scholarships cover tuition fees, a living allowance at a set rate (for one individual), an economy class return airfare to the UK and additional grants to cover essential expenditure. Some Scholarships cover part of the cost of studying in the UK; for example, tuition fees only or allowances only.

Selection Criteria: Applicants should be high caliber graduates with the personal, intellectual and interpersonal qualities necessary for leadership. Evidence of leadership experience and potential is critical. Each country has a list of priority areas in which it is looking for Chevening Scholars. The typical successful applicant:
-Is a professional graduate, in early or mid-career, who displays both intellectual ability and clear leadership potential;
-Has already worked for two/three years in his/her chosen profession;
-Is committed to return to his/her home country and contribute to its socio-economic development, by implementing the new skills and knowledge acquired in the UK;
-Has a proven track record of professional excellence and achievement, with the prospect of becoming a leader in his/her chosen field;
-Is able to show at interview that he/she possesses the personal qualities to benefit from the Scholarship and use it to succeed in his/her chosen career;
-Is keen to engage with the wider Chevening community while in the UK and on return to his/her home country;
-Has a clear idea of how the Scholarship will benefit his/her country on his/her return.

Notification: Not Known

How to Apply: To apply for one of the four positions available (Eligibility Reviewer, Academic Specialist, Regional Specialist, Lay Committee Member), please send a CV with covering letter outlining each of the following:
-Applicant’s full name
-their postal and email addresses
-their phone number(s)
-position(s) being applied for
-suitability for the role(s)
-confirmation of available period of time (November for Reviewers or one of the three time periods for the Committees, as above)
-acknowledgement of willingness to sign a confidentiality agreement
-Applications should be emailed to sifting-at-chevening.org, to

The Attention of Michael Scott-Kline, Head of the Chevening Scholarships Secretariat.
Enquiries about the positions should be addressed to Michael Scott-Kline, Head of the Chevening Scholarships Secretariat: sifting-at-chevening.org

Scholarship Application Deadline: The application deadlines are as follows: Afghanistan-15 November 2013, Albania-1 November 2013, Algeria-15 November 2013, Angola 8-November 2013, Anguilla-1 November 2013, Antigua & Barbuda-8 November 2013, Argentina-15 November 2013, Armenia-1 November 2013, Australia-, Azerbaijan-8 November 2013, Bahamas-8 November 2013, Bangladesh-1 November 2013, Barbados-8 November 2013, Belarus-1 November 2013, Belize-8 November 2013, Bermuda-1 November 2013, Bhutan-, Bolivia-15 November 2013, Bosnia Herzegovina-1 November 2013, Botswana- 15 November 2013, Brazil-15 November 2013, British Overseas Territories-1 November 2013, Brunei- 15 November 2013, Burma-15 November 2013, Cambodia-15 November 2013, Cameroon-8 November 2013, Canada-8 November 2013, Cape Verde-8 November 2013, Cayman Islands-1 November 2013, Central African Republic-8 November 2013, Chad-8 November 2013, Chile-15 November 2013, China-15 December 2013, Colombia-15 November 2013, Costa Rica-8 November 2013, Croatia-1 November 2013, Cuba-8 November 2013, Djibouti-1 November 2013, Dominica-8 November 2013, Dominican Republic-8 November 2013, Democratic People’s Republic of Korea-, DR Congo, East Timor, Ecuador-15 November 2013, Egypt-8 November 2013, El Salvador-8 November 2013, Equatorial Guinea-8 November 2013, Ethiopia-1 November 2013, Falkland Islands-1 November 2013, Fiji-15 November 2013,Gabon-8 November 2013, Gambia-8 November 2013, Georgia-1 November 2013, Ghana-8 November 2013, Grenada-8 November 2013, Guatemala-8 November 2013, Guinea Bissau-8 November 2013, Guyana-15 November 2013, Haiti-8 November 2013, Honduras-8 November 2013, Hong Kong-15 November 2013, Iceland-, India-, Indonesia-8 November 2013, Iran-15 November 2013, Iraq-15 November 2013, Israel-8 November 2013, Jamaica-8 November 2013, Japan-15 November 2013, Jordan-8 November 2013,Kazakhstan-8 November 2013, Kenya-1 November 2013, Kiribati-1 November 2013, Kosovo-1 November 2013, Kyrgyzstan-8 November 2013, Laos-15 November 2013, Lebanon-8 November 2013, Lesotho-15 November 2013, Libya-15 November 2013, Macedonia-1 November 2013, Madagascar-15 November 2013, Malawi-15 November 2013, Maldives-1 November 2013, Malaysia-, Marshall Islands-1 November 2013, Mauritius-15 November 2013, Mexico-8 November 2013, Micronesia-1 November 2013, Moldova-1 November 2013, Mongolia-15 November 2013, Montserrat-1 November 2013, Montenegro-1 November 2013, Morocco-15 November 2013, Mozambique-15 November 2013, Namibia-15 November 2013, Nauru-1 November 2013, Nepal-1 November 2013, New Zealand-1 November 2013, Nicaragua-8 November 2013, Nigeria-8 November 2013, Palestinian Territories-8 November 2013, Pakistan-15 November 2013, Panama-8 November 2013, Papua New Guinea-1 November 2013, Paraguay-15 November 2013, Peru-15 November 2013, Philippines-15 November 2013, Pitcairn Island-1 November 2013, Republic of Congo-1 November 2013, Russia-1 November 2013, Rwanda-1 November 2013, Samoa-, Sao Tome and Principe-8 November 2013, Senegal-8 November 2013, Serbia-1 November 2013, Seychelles-15 November 2013, Sierra Leone-8 November 2013, Singapore-15 November 2013, Solomon Islands-1 November 2013, Somalia-1 November 2013, South Africa-15 November 2013, South Korea-15 November 2013, Southern Sudan-1 November 2013, Sri Lanka-1 November 2013, St Helena-1 November 2013, St Kitts & Nevis-8 November 2013, St Lucia-8 November 2013, St Vincent & Grenadines-8 November 2013, Sudan-15 November 2013, Swaziland-15 November 2013, Syria-8 November 2013, Taiwan-1 November 20135, Tajikistan-8 November 2013, Tanzania-1 November 2013, Thailand-15 November 2013, Trinidad & Tobago-8 November 2013, Tonga-1 November 2013, Tunisia-15 November 2013, Turkey-1 November 2013, Turkmenistan-8 November 2013, Turks and Caicos-1 November 2013, Tuvalu-1 November 2013, Uganda-1 November 2013, Ukraine-1 November 2013, Uruguay-15 November 2013, Uzbekistan-8 November 2013, Vanuatu-1 November 2013, Venezuela-15 November 2013, Vietnam-15 November 2013, Yemen-15 November 2013, Zambia-15 November 2013, Zimbabwe-15 November 2013.

Apply at : Chevening Scholarship website