Connect with us

Business

Paraguay: Farmers Get $10m From World Bank

Published

on

The international Finance Corporation (IFC), a subsidiary of the World Bank Group says it has provided a $10 million working capital facility to Frantera Agro-pecuaria del Paraguay (S.A.) to support farming operations in Paraguay.
In a release, the corporation said its financing will help bring farm land into substainable production and create opportunities for rural development.
Agriculture plays an important role in Paraguayan economy, with more than 42 per cent of the population living in rural areas and dependent on agriculture for livelihood. It represents about 25 per cent of the GDP, 30 per cent of employment, and almost all registered exports.
Frontera Agropecuaria del Paraguay, is a member of Desarrollo Agricola del Paraguay Group, the DAP Group, which is an industrial –scale agricultural farming company producing soyabeans, corn, and sunflowers in Paraguay.
“IFC’s support will allow the company to finance its working capital needs property and enhance its competiveness,” said DAP President Pascual Rubiani. He said the IFC investment will help develop agricultural farming, “based on triple bottom-line model-social inclusion, environmental care and substainable economic results.
Oscar Chemerinski, Director of IFC’s global Agric business Department, said “IFC financing will play an important counter cyclical role during the current financial crisis. IFC will be providing financing to Paraguay’s agriculture farming sector to support local players like the DAP Group that adopts sustainable farming practices. The investment is expected to contribute to rural economic development and increase food supply.”
IFC’s strategy in Paraguay is focused on supporting access to finance for micro small and medium enterpreises, promoting global trade, and providing advisory services to improve the investment climate. Key sectors include infrastructure particularly in the areas of transport, electricity, agric-business development, and financial markets.
The corporation creates opportunity for people to escape poverty and improve their lives. It fosters sustainable economic growth in developing counties by supporting private sector development, mobilising private capital and providing advisory and risk mitigation services to businesses and governments.
DAP on the other hand is a business group with significant Paraguayan and international investments. It is setting a new management benchmark for agribusiness in Paraguay by introducing the triple-bottome-line mode-economic, social, and environmental-and works in partnership with the civil society and rural neighbouring communities. Meanwhile, its committee on Development Effectiveness (CODE) has considered the report entitled “Independent-Evaluation Group (IEG). It did this together with the Draft Management Response (DMR).
In the report, the committee commended IEG for a comprehensive- evaluation and generally agreed with the main thrust of its recommendations.
It expressed its pleasure that overall, IFC achieved high development results in most of its investments and advisory services (AS) operations.
It said some members asked management to present an action plan for implementing these recommendations and that members agreed on IEG’s recommendation for IFC to be prepared to address the many of the challenges ahead given the current global financial crisis, including balancing between the need to protect the portfolio and the need for IFC to play what they called a counter-cyclical role.

Continue Reading

Business

NPA Assures On Staff Welfare 

Published

on

The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

ANLCA Chieftain Emerges FELCBA’s VP

Published

on

National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

NSC, Police Boost Partnership On Port Enforcement 

Published

on

In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
Continue Reading

Trending