T H I S D AY • THURSDAY, JUNE 29, 2017
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Quick Takes
NEF Launches Science Week
The Next Einstein Forum (NEF), an initiative of the African Institute for Mathematical Sciences (AIMS), in partnership with Robert Bosch Stiftung, has announced the launch of NEF Africa Science Week in Abeokuta and Lagos. NEF Ambassador, who specialises in petroleum and environmental geochemistry of oil basins, Dr. Sojinu Olatunbosun Samuel, will lead the event. AIMS President and CEO who is also NEF Chair,Thierry Zomahoun, said: “The NEF Africa Science Week is the first coordinated science week across Africa. Our primary objective is to develop tomorrow’s scientists and technologists by engaging children and young people in scientific activities like science caravans and hackathons. “Our activities will also demonstrate the critical impact of science to the general public. By bringing together key stakeholders from all sectors, we hope to catalyse investment in research and development and discuss best practices for attracting and retaining young people, especially girls and women, in the sciences.” “The weeklong signature event will also strengthen research networks and communities of scientists across Africa and we hope that the next few editions will see technology facilitate coordinated regional activities,” Zomahoun said.
WE APPRECIATE YOUR VISIT
National President, National Association of Chambers of Commerce, Industries, Mines and Agriculture (NACCIMA), Iyalode Alaba Lawson (second right), making a presentation to EUropean Union Ambassador in Nigeria, Mr. Michel Arrion. With them are the National Vice President, NACCIMA, Mr. Adeniyi Ogunsanya (L) and Head, Trade and Economic Section of EU in Nigeria, Mr. Filippo Amato, during the EU team’s visit to NACCIMA’s office in Ikeja …recently
Nigeria to Become Africa’s Fastest-growing Hospitality Market by 2021 Obinna Chima Nigeria is expected to be the fastest-growing hospitality market from a revenue perspective over the next five years with a projected 14.7 per cent compound annual increase in revenue, PwC stated in the 7th edition of its ‘Hotels Outlook: 2017-2021.’ According to the report obtained Tuesday, the country was expected to benefit from an improving economy, continued growth in domestic tourism, and expansion in the number of available rooms. A number of projects in Nigeria have been delayed or postponed in the wake of the recent economic uncertainty. The hotel market in Nigeria rebounded in 2016 with a 5.2 per cent increase in total revenue.
ECONOMY “Nigeria is projected to be the fastest-growing market from a revenue perspective over the next five years. This is mainly due to an improved economy, continued growth in domestic tourism, and expansion in the number of available rooms. “Overall hotel room revenue is expected to expand at a 14.6 per cent, compound annual rate to US$517 million (R7.6 billion) in 2021 from US$261 million (R3.8 billion) in 2016,” the report added. South Africa was projected to be the next-fastest growing market with a 9.3% compound annual increase in room revenue, most of which will be generated by rising average room rates and continued but moderating growth in tourism. According to the report,
South Africa’s hospitality sector was poised for further growth in the next five years bolstered by inbound travelers amid a difficult and volatile economic climate. Hospitality & Gaming Industry Leader for PwC Southern Africa, Pietro Calicchio said: “Africa’s hotel sector has remained resilient in the face of strong economic headwinds.” The report projected that South African hotel room revenue would grow by 10.1 per cent in 2017 to R17.5 billion. Overall hotel room revenue for South Africa was expected to expand at a 9.3 per cent compound annual rate to R24.8 billion in 2021 from R15.9 billion in 2016. The PwC report stated that the outlook for the hospitality industry for 2017 was positive with an increase in the number
of international visitors to South Africa expected. “One of the positive outcomes for the hotel market in South Africa was the amendment of visa requirements that required foreign visitors from certain countries to provide biometric data in person. International visitor numbers to South Africa rebounded significantly in 2016 with a 12.8% increase as compared to the 6.8% decrease in 2015,” Calicchio commented. Visits from China and India increased in 2016 as a result of the relaxation in the visa requirements; travellers from China to South Africa increased by 38% and India recorded a 21.7% increase. Of non-African countries, the UK is still the largest source of visitors to Continued on page 24
European Commission Slams Google with €2.4bn Fine Emma Okonji with agency report The European Commission (EC) has fined Google €2.42 billion (N866 billion) after ruling that the internet giant abused its market dominance as a search engine by illegally promoting its own shopping comparison service. Although the EC has ruled over the fine, Google however said it ‘respectfully disagrees’ with the ruling, and is considering an appeal. The search giant must end the practise within 90 days or face penalty payments of up to 5 per cent of the average
ICT daily worldwide turnover of Alphabet, Google’s parent company. Based on Alphabet’s most recent financial report, this would amount to approximately $14 million per day, according to BBC report. In a statement, the EC said Google was guilty of breaching European Union (EU) antitrust rules after systematically giving prominent placement to its own shopping comparison service, first launched in 2004, on its search engine. From 2008, the European watchdog said Google began to implement a fundamental
change in strategy to push its comparison shopping service in European markets. “This strategy relied on Google’s dominance in general internet search, instead of competition on the merits in comparison shopping markets,” read the statement. Google’s actions also had the effect of demoting rival comparison shopping services in its search results, as the company used generic search algorithms which led to rival services appearing lower in the rankings. “As a result, Google’s comparison shopping service is much more visible to
consumers in Google’s search results, whilst rival comparison shopping services are much less visible,” said the EC. Commission Margrethe Vestager said Google’s strategy for its comparison shopping service was not just about “attracting customers by making its product better than those of its rivals, it denied other companies the chance to compete on the merits and to innovate. “And more importantly, it denied European consumers a genuine choice of services and the full benefits of innovation,” Continued on page 24
OLX, Champs Register with LASRAA
Leading online classifieds site, OLX.com.ng, has partnered the Lagos State Resident Registration Agency (LASRAA) to register all OLX staff and Champs, sales experts that help users buy and sell on the OLX platform Speaking on the partnership, the OLX Business Development Manager, Mayokun Fadeyibi, said: “Trust and safety is our number one priority on the OLX platform. With this additional identity verification of the OLX Champs we have created a credible database for our Champs and also provided the OLX Champs with the benefits of being a Lagos State Resident. Fadeyibi, also added that OLX through the launch of the ‘Do it for me service’ has empowered over a hundred unemployed youths by giving them the opportunity to earn a healthy income when they help users buy and sell on the OLX platform. General Manager, LASRRA, Kayode Ogunnubi, who was represented by a senior management staff at the agency, Abiodun Ajayi, said: “We are excited to partner with OLX to register their staff and Champs.”
Promasidor Identifies with Muslims
Promasidor Nigeria Limited, makers of Cowbell and Loya Milk, has felicitated with Muslims in the country as the holy month of Ramadan comes to an end. Ramadan is the month in the Islamic calendar (Hijrah) and it is obligatory for Muslims to fast during this period as this is considered the fourth pillar of Islam. Promasidor’s Category Manager – Dairy, AbiodunAyodeji, acknowledged that Ramadan is a period when Muslims abstain from food and drink from dawn to dusk and therefore prayed for Allah’s bountiful blessings and rewards on their lives for this sacred obligation. He affirmed that the company is particularly delighted that many of the faithful have taken Cowbell and Loya Milk as their main source of nutrition and refreshment in this period of penitence and self-denial.
AAAN Holds 44th AGM
The Association of Advertising Agencies of Nigeria (AAAN) plans to hold its 44th annual general meeting/congress in Lagos State. According to a press statement issued by the Executive Secretary of the professional body, the event will hold from Thursday, 6th to Saturday, 8th July, 2017 in Lagos. The theme for this year’s AGM is “Fresh Thinking”. The President of the Association, Mr. Kayode Oluwasona, noted that the Association aimed to use the AGM as a platform to stimulate fresh perspectives and critical thinking that advocate unorthodox solution to the challenges facing the business and practice of advertising in Nigeria.
“We need state government support for the procurement of Set-Top-Boxes for digital switchover, as well as assistance for the installation of transmission systems across states”
DG, National Broadcasting Commission (NBC), Mr. Ishaq Modibbo Kawu