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Public Private Partnerships Critical To Tackling The Financing Gap Of Developing Countries

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The current financing gap of developing countries is currently estimated at a staggering US$2.5 trillion each year. But Public Private Partnerships (PPP) could pose part of the solution, believes the Islamic Development Bank (IsDB).


The introduction of the UN’s Sustainable Development Goals marked a new era for the international development community, raising the level of finance required from billions to that of trillions. Even the world’s strongest economies cannot resolve global development challenges alone.

To meet this financing gap, innovative sources of finance must be tapped along with new types of development projects – ones that operate at the nexus of financial viability and development impact. The right enabling environment also must be created to make markets work for development – they need to be dynamic, inclusive and sustainable.

“The biggest potential driver of short and long-term development is the private sector,” says President of the Islamic Development Bank, His Excellency Dr Bandar Hajjar, who is convening a coalition of internationally renowned experts, government officials and private investors today in Rabat, Morocco, for the 2nd annual PPP Forum: Shared Efforts for Shared Goals.

Experts will discuss how to improve the legal and institutional environment of public-private partnerships, particularly on the African continent where there is growing appetite from investors in PPPs.

Developing countries are facing huge budgetary constraints. Before the global financial crisis, between 2004-2008, the total budget balance of all the Islamic Development Bank’s member countries was in surplus of 3.8% of GDP on average. Between 2013-2017, however, this has turned into a deficit of 3.5% of GDP.

“The IsDB’s ambition is for a future in which governments establish and enforce rules and regulations that enable all economic agents in the market to play a role in development,” Dr Hajjar says.

There are several success stories of IsDB financing for PPP projects across Africa – one being the expansion and rehabilitation of the Jorf Lasfar Port project for OCP in Morocco, for which the IsDB has approved US$150 million.

The project was completed end of September 2017 and already total shipments from the port have almost doubled, jumping from 10 million tonnes to about 17.6 million tonnes, with the number of ships discharging from the port increasing from 571 to 686 vessels. A total of 200 jobs were also created by this project.

The IsDB and other lenders under a PPP financing structure also helped to dramatically expand the capability of the port of Djibouti. The country, strategically located on one of the fastest-growing east–west international shipping routes, at the entrance to the Red Sea, is ideally placed to expand its role as a shipping hub.

Now, thanks to a new container port developed with PPP funding, Djibouti can handle more than twice as much container traffic as before, is able to host the latest generation of giant container ships and is in a position to establish itself as a gateway to the Common Market for eastern and southern Africa.

This has strengthened Djibouti’s economy and fostered regional integration through the development of trade.

“PPP financing enables competitive advantage, higher quality and efficiency,” continues Dr Hajjar.

“Importantly, PPP financing reduces the burden on state budgets to complete investment-intensive development and infrastructure projects, optimizing the distribution of risks between the two sectors.

“This PPP Forum is therefore more important than ever, and we look forward to promoting the dialogue on PPP in order to drive meaningful change as we look to achieve the Sustainable Development Goals.”

IsDB’s 2nd Annual PPP Forum: Shared Efforts for Shared Goals, is being held in Rabat on 28th February 2019 under the high patronage of His Highness King Mohammed VI of Morocco.

-Find out more at: https://ppp-forum.org/

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Nigeria’s Manufacturing Power Couple On The Future Of Manufacturing In Nigeria

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Chief Razak Okoya: Chairman Eleganza Group And Rao Property Investment Company

Chief Razak Okoya is an industrialist who has managed to transform a small trading company into one of the largest conglomerates and indigenous manufacturers of household products in Nigeria.

As founder of Eleganza Group and leading property investment company RAO Property, he employs about 5000 people across Nigeria. In his interview with Forbes Africa, he discusses the trends that will influence the competitive Nigerian Manufacturing sector in the next decade.

Chief Folashade Noimat Okoya: Managing Director, Eleganza Industrial City

Chief Mrs. Folashade Okoya has been at the helm of affairs of the Eleganza Group and RAO Property Investment for the past decade using her strong entrepreneurial drive to further strengthen the goodwill of both organizations and its corporate positioning in Nigeria.

Under her watch, Eleganza Group has risen to new heights strengthening its position as a leading indigenous brand in Nigeria as well as one of the benchmark manufacturing companies in the country.

She talks about the stigma of women in manufacturing and the need for greater automation in the manufacturing process in Nigeria.

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Nigeria’s Biggest Corporations: A Pan-Nigerian View To The World

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At the beginning of the Japanese Economic Miracle, were the likes of
Akio Morita – Co-founder of Sony. In setting a Mission for Sony, Morita had
resolved to set for Sony Corporations the Mission to make Japan known for quality at a time the country was known for cheap-copycat product. It is indeed in this vision, that True Nigerian Experience was founded with a mission to showcase the Best of Nigeria.

According to the International Monetary Fund in 2018, Nigeria is regarded as the biggest economy in Africa with a Gross Domestic Product of about $400 Billion Dollars – Leading the entire 54 African Economies both in Population of over 180 Million people and GDP.

The Nigerian Economy is ranked the 30th largest Economy in the World. To mention a few, Nigeria’s Nominal GDP is bigger than the Republic of Ireland (US $373 Billion), Israel (US $370 Billion), Hong Kong (US $363 Billion), Singapore (US $361 Billion), Malaysia (US $354 Billion), Denmark (US $351 Billion), Colombia (US $333 Billion), Philippines (US $331 Billion), Chile (US $298 Billion), Finland (US $275 Billion), Czech Republic (US $242 Billion), Romania (US $ 240 Billion), Portugal (US $239 Billion, Peru (US $225 Billion), Greece (US $219 Billion), New Zealand (US $203 Billion) and over a hundred other countries’ economies in the World.

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Franchise’s newest target: the flexible workspace revolution

In the midst of what many are calling the flexible workspace revolution, franchisees are looking towards the serviced office market for lucrative new opportunities.

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In the midst of what many are calling the flexible workspace revolution, franchisees are looking towards the serviced office market for lucrative new opportunities. Projections show that three in ten buildings on every high street could offer a new franchise opportunity, with flexible working, or coworking as it’s often called, emerging as a booming industry.

A booming industry
With businesses and individuals increasingly using flexible working spaces, the co-working industry is estimated to be growing by 24% each year. A recent study of 18,000 business leaders in 96 countries by IWG, the parent company of leading workspace providers including Regus and Spaces, revealed that the majority of business leaders (89%) believe flexible working is helping their businesses to grow and stay competitive. In addition, 80% felt that adopting co-working, and enabling their employees to work anywhere, has helped them recruit and retain top talent.

Likewise, with a huge 50% of workers predicted to be working remotely for most of their working week, by 2022, forecasts suggest that the global mobile workforce will reach 1.87 billion people. This presents a unique opportunity for those in the franchise industry to jump on what is a rapidly growing trend.


Partnering with IWG gives business owners the ability to participate in this growth story and take advantage of the huge demand for flexible, contemporary workspaces – one of the most exciting growth markets in the country.

Mo Nanabhay, Franchising Director – Africa


As more people look to work flexibly, the demand for places for them to do so is growing; and as the corporate real estate market continues to grow, global real estate giant JLL estimates that up to 30% of corporate real estate could be flexible workspace by 2030.

The growing franchise opportunity
This makes the serviced office market one of the most exciting growth markets in the world. Simply put, it is the next franchise frontier. And the industry founder, IWG, with its thirty years of experience in the, serviced office market and brands to match every requirement and style like Regus and Spaces, is now offering people a chance to get involved.
In September 2018, the company announced they would be leading the UK’s first serviced office franchise partnership with franchising experts, ACCA Office Ltd. Since then, four more businesses have partnered with IWG, including Kash Office Limited, AMA Workspaces, SME Properties Limited, and Q-Boid Limited. These franchise partnerships will see sites opened across the country over the next couple of years. In Asia, the company has agreed to sell its Japanese business to Tokyo-based TKP Corporation for the whole of Japan.


IWG is present in almost 3,300 locations, 120 countries and 1,100 town and cities across the world – and it’s this experience that makes IWG the ideal franchise partner for those wanting to take advantage of the booming demand for serviced offices worldwide.

“Our years of experience in the industry and our well-established global network has taught us that building a quality flexible workspace offering requires trust and support. We work closely with our franchisees to ensure that they have a framework to find the right location and design, backed by the strength of our operational and marketing support and the best customer service that IWG is known for.”

Mo Nanabhay, Franchising Director – Africa

To find out how you can take advantage of the workspace revolution, contact IWG’s franchise team via [email protected] or visit franchise.iwgplc.com.

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