Saturday, July 20, 2013

Security Sector Reform: Dr. Sanders Highlights Key Issues at NDU's African Center for Strategic Studies (ACSS)

Speaking to a group of Security Professional in Washington D.C. at the National Defense University's ACSS Center, Ambassador Sanders highlighted the following key points as regards to strategic issues that need to be viewed as part of a new framework on security sector reform (SSR):

  • Today's security landscape is very different from 10 years ago, and we as security sector professionals need to look at the issues differently and be more innovative;

  • Key human cultural elements need to be thought through when addressing/reforming current the SSR framework;

  • There are an array of possible demographics (gender, regional and  world view differences) that are playing a role in how we respond and should address any new SSR Framework;

  • Expand and include other non-traditional players/actors  in the SSR discussion and SSR framework (e.g.judiciary, media, local NGOs, national assemblies, private sector).

  • Don't try to define SSR, be more open as to what the elements of SSR might be as adhering soley to a definition might cause you to miss a strategic change or nuance. Stay away from the "cookie cutter" approach as each country is different.

  • New elements of SSR operations should include more specialized components to address the new framework of SSR such as: small specialized flexable forces that an adapt to rapid on-ground changes; separate communications components looking at both implicit & explicit communications issues; and, expand the network of sectors included in SSR as noted above.

  • The success of any SSR should be measured differently than in the past (i.e. what will be the new performance indicators, past goal=professionalizing military, para-military & police/participate in joint exercises, democratic leadership of military) but what are new performance indicators today)? How should we be measuring the success of any new SSR Framework?

Ambassador Sanders Received at Nigeria's Stock Exchange (NSE), Meets with Brokers on the NSE Floor














Nigerian Stock Exchange (NSE): Proshare Report on Ambassador Sanders NSE Visit and Closing Bell Ceremony

 

Former American envoy praises NSE


Category: Capital Market


Former American envoy praises NSE


webtv-ng






The remarkable transformation and phenomenal market movement and growth in Nigeria, came to the fore as former American envoy to Nigeria, Dr Robin Sanders visited the exchange.
Receiving her the CEO of the NSE Mr Oscar Onyema described Dr Sanders as a firm believer and supporter in the progress and accelerated growth of the capital market.
In her remarks at the occasion, Amb(Dr) Robin Sanders paid tribute to the dedication and commitment of the stockbrokers and the management, which is manifets in the impact it is making in the continent and the globe.
Affirming her position of optimism in the potentials and possibilities of the exchange, she hinted the floor, that she had purchased some shares in the stock market.
The American Diplomat promised to uphold the NSE and work within her ambits to promote the strides and investment potentials of the exchange.
The event was also attended by Mr Haruna Jalo Waziri ED,Business Development NSE, Mr Ade Bajomo ED, Market Technology NSE and Mr Bola Adeeko GM Corporate Services NSE.



Tags: webtv-ng, American, NSE, market movement, Nigeria, Dr Robin Sanders, Mr Oscar Onyema, Dr Sanders, capital market, Amb(Dr) Robin Sanders, stockbrokers, stock market, Mr Haruna Jalo Waziri ED, Business Development NSE, Mr Ade Bajomo ED, Market Technology NSE, Mr Bola Adeeko,

Ambassador Sanders Ringing Ringing Closing Bell at Nigerian Stock Exchange (NSE)

Daily Market Update –June 21, 2013

Photo L-R: Ade Bajomo, NSE’s ED, Market Operations and Technology; Oscar Onyema, CEO NSE; Ambassador Robin Sanders, former U.S. Ambassador to Nigeria; and Haruna Jalo-Waziri, NSE’s ED, Business Development at the Bell Ringing Ceremony by the former ambassador to Nigeria at The Exchange on Friday.

Money Market: Interbank Rates Flat on Maturing Bills
The interbank lending rates ended the week unchanged at an average of 11.33%, as maturing treasury bills and anticipated flows of public funds kept the market from tightening.

The central bank repaid about ₦160 billion ($990 million) on Thursday in matured open market operation debt notes, swelling liquidity.

"The cost of borrowing in the market had gone to an average of 14% for overnight in the week because of shortage of funds, but dropped on Friday after the cash flow from matured bills and expectation of budget allocation," a dealer told Reuters.

Dealers said the market opened with a cash balance of about ₦76.65 billion on Friday, compared with ₦136 billion a week earlier.

The secured Open Buy back (OBB) was unchanged at 11%, 100 basis points lower than the Central Bank's benchmark interest rate.

Both overnight placement and call money closed at 11.5% apiece, same level last week.

Traders said rates will drop to around 10.25% for overnight next week by the time cash from the May budget allocation to government agencies hits the market.

Nigeria distributes ₦620.7 billion in May revenues to its three tiers of government –federal, state and local, but bankers said half of the amount is expected to hit the money market by Monday, helping to provide liquidity support for the banking sector.

Stock Market: All-Share Index Depreciates
The NSE All-Share Index depreciated by 2.11% to close on Friday at 36,464.39 basis point while the market capitalisation of the listed equities on the main board also declined by 2.11% to close at ₦11.72 trillion. Also, the NSE 30 Index sheds 1.99% to close at 1,744.40.

A turnover of 1.63 billion shares worth of ₦21.68 billion in 30,952 deals were traded this week by investors on the floor of The Exchange in contrast to a total of 3.73 billion shares valued at ₦75.87 billion that exchanged hands last week in 39,060 deals.

Meanwhile, the former United States of America Ambassador to Nigeria, Dr. Robin Sanders, paid a courtesy visit at the Exchange today during a Bell Ringing Ceremony.

OTC Market
A turnover of 272.82 million units valued at ₦310.62 billion in 1,903 deals were recorded this week in contrast to 184.033 million units worth ₦206.53 billion in 1,179 deals recorded in the preceding week.
- See more at: http://www.myfinancialintelligence.com/banking-and-finance/daily-market-update-%E2%80%93june-21-2013#sthash.5RAWP02I.dpuf

Saturday, June 15, 2013

Sub-Saharan Africa 2013: Striving to Be a More Perfect Continent

A FEEEDS blogspot - putting President Obama's trip into perspective
Sub-Saharan Africa (SSAfrica) today is not your mother's Africa. It is a region that continues to undergo for the most part positive political and economic changes. Many more of its 48 countries are embracing democratic change, holding free and fair elections, and moving forward as key players on the global stage. This does not diminish the serious political and security challenges that remain in certain parts of the region. But every world region has tough issues today, including the U.S., as we grapple with some key economic and social upheavals. However, we do not swipe our entire nation with a negative cloth because of these transformative processes, but see working on these issues as part of our efforts "to strive be a more perfect nation."

Thus, sub-Saharan is doing the same thing -- striving to be a "more perfect continent." Major transformation does take hard work and can also take time. Thus, we should have that same kind of perspective when it comes to SSAfrica. Many nations are moving forward on economic growth in a fairer manner, engaging transparently, globally and with realistic expectations.
Most Americans focus primarily on the negative, but Today's Africa requires a more balanced view, a more balanced lens about the positives as well as the challenges such as the need for more immediate quality of life improvement for the average African as highlighted at numerous World Economic Forums (WEF), including at the 2013 session.

President Obama's upcoming trip to the region on June 26, where he will visit three key African countries -- Tanzania, South Africa, and Senegal -- will show this more balanced lens that we all need to embrace when thinking about this vast, diverse, and strategic continent. Political and economic changes are the order of the day for most of SSAfrica even though there are challenges. Again, the point is: look at each country as its own world, and understand their political, security and economic differences.

Political Pluses:

So what are the political pluses or the "value-chain" contributions that are going on in the region and impacting the global community? (Value-chain in this context means the progress that each African country makes has a positive global political and economic ripple effect.) They are less far and few in-between than you might think. There are a number of countries that have made democracy, transparency, and free and fair elections the order of the day. In April, President Obama hosted presidents from four of these nations -- Sierra Leone, Cape Verde, Malawi, and Senegal -- at the White House because of the huge democratic transitions that have taken place in their countries, particularly Sierra Leone. If you remember it was not too long ago that Sierra Leone was best known for its conflict diamond war, racked with brutal human rights atrocities and child soldiers. Today, Sierra Leone has had two back-to-back free and fair elections, and life there is now marked with both improved economic and social development.

Further political pluses have been seen throughout the region from 2010-2012 onward as many nations continue to become of age with some 11 holding transformative presidential elections in this time period. Nations ranging from Benin, Cape Verde, Ghana, Madagascar, Niger, Nigeria, and Liberia to Senegal, the Seychelles, Republic of Somalia and (chosen by a Federal Parliament) and Zambia have all done so. Kenya's April 2013 elections, although serious post-election ethnic tensions prevail, had results that were eventually declared free and fair, despite President Kenyatta having an indictment cloud hanging over him by the International Criminal Court on violence from the country's last election. Each friendly nation of Kenya's, however, will have to determine how it will handle engaging with President Kenyatta. Others like Botswana, South Africa, Namibia, and Mozambique have been on the right democratic tracks now for decades.

There were of course those countries which held elections during that same time period that still face uphill on moving from a closed governance framework to more open election processes (e.g. Angola, Cameroon, Rwanda, Uganda and Zimbabwe. Zimbabwe will hold elections sometime late fall 2013 and early reports are things will continue not bode well there). There are others such as the Democratic Republic of Congo that continues to face ethnic violence, and insecurity, humanitarian, and human rights challenges.

The Economic Pluses
On to the economic news: Here are some key areas of the economic pluses in the SSAfrica region:

-- Positive Economic & GDP Growth Rates for many countries;
-- Increase Foreign Direct Investment (FDI);
-- Increase in establishment of Africa-focused Equity Funds & Investments; and
-- Reset of Capital Markets in the region (i.e. Kenya, Nigeria, South Africa, Ghana, Uganda, Namibia and Rwanda, were up 33 percent in local currency terms.)

Yes, we have all heard it: Of the 10 fastest growing economies in the world today, seven of those are in sub-Saharan Africa. Botswana, for example, has maintained a double-digit growth rate for the last 10 years; Ghana is still projected to be the in the region for 2013 at 8 percent; Mozambique, Nigeria, Rwanda, Angola, and Zambia enjoyed high single digit growth in 2012.

In sum, these positive economic indicators definitely call for a different look at Africa in 2013: In a phrase: it is a multi-dimensional region with both positive stories, and challenges.

The Other Side of the Coin: The Challenges

Despite the political and economic news noted above, and real changes on the democracy and governance front for a number of Africa countries; there are Challenges that need realpolitik analyses and solutions. The old public diplomacy tool about building "mutual understanding" (which is a not a do-as-I-say-discussion, but a real dialogue) between and among disparate groups about contentious issues needs to come back in vogue.

There are a few issues that still hover over the region such a few more nations still need to embrace the range of democracy pillars (transparency, good governance, respect for human rights, access to good education and health care, poverty reduction, etc.), and adding to these is the specter of what is being called "Jihadism" which has taken hold in several Sahel countries. But even this "catch phrase" is imperfect and does not taken into account the home-grown issues and clash of world view aspects of the various groups and subgroups across the Sahel. Again, the issues are multi-dimensional, and solutions may need to be as well. We hear a lot about a regional approach, but may what we need are country-specific approaches in a regional context.

*NB: Varying figures estimate that females make up 48-50 percent of the continent-wide population