Business
FG Pledges Increased Forex Sale To Manufacturers
The Federal Government through the Minister of Industry, Trade and Investment, Niyi Adebayo, has assured manufacturers of its support to enable them to get good returns on their investments.
The minister, who gave the assurance while playing host to a delegation of Expand Global Industries Limited, pointed out that although many manufacturing companies were battling shortage of foreign exchange, the Federal government was doing everything to assist them to access forex, particularly for the importation of machineries for those using local raw materials for their production.
He maintained that the ministry would continue to assist manufacturers to remove any identified bottlenecks that could impede their production process, especially with respect to the ease of doing business.
The Special Assistant to the minister on Media made this is known in a statement issued on Monday and titled, “Minister assures manufacturers of govt support.”
The statement quoted the minister as saying that “his ministry would continue to partner with manufacturers to ensure that they were kept in business for the good of the investors.”
The Managing Director of the company, Rajat Kapur, had sought the assistance of the minister to access forex or their production, pointing out that accessibility to forex would increase their capacity for increased production.
He said that making forex available for manufacturers would increase investors’ confidence to keep investing in the country.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
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