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By Alex C With new investments coming into the nation’s insurance industry from private equity firms, foreign and local partnerships, the sectors’ potential will not take too long to unlock, Remi Babalola, vice chairman, Law Union & Rock Insurance plc said. He said this will in the near future position the industry to increase its contribution to economic growth, stating that this has been slowed down because the insurance participation in the country was still low. “The low penetration of this sector shows clearly the humongous growth potential. The regulatory environment is improving and hopefully best practice can be attained,”…
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Dear Dorothy, It was not on religious grounds, but on point of principle that I vowed to remain a virgin until I got married. While most of my friends began engaging in various sexual activities in secondary school and university, I pledged to not do so till I was married. It was hard to remain a virgin when everyone around me seemed to be enjoying the pleasures of sex. I often imagined what it would be like when I had sex with my husband on our wedding night – how romantic, sensual and passionate it would be. However, as we…
By Mimi Adebayo Tom isn’t used to being single for long. He isn’t promiscuous nor is he looking for a roll in the hay; he is just not comfortable being alone. If asked, he will say he always needs a woman to make him feel complete or secure. Margaret wants love. She believes in true love and that her Prince Charming is out there waiting for her. She feels that any guy that comes around her could be a potential Mister Right so she doesn’t often turn down a proposal. Because of this, she’s tested many Mister Rights and they’ve…
By Ohenenana Teleku Members of three popular charismatic church in three different suburbs of Accra are counting their losses after a thief that specializes in depriving congregants at prayer is now chatting with the Teshie police. Police sources disclosed that on On August 17 the thief, Isaac Oppong Asante, left his base at one of Accra and traversed to the end with three popular churches and set to work to better his economy. The 19-year-old student is in the custody of the Teshie District police in Accra for allegedly stealing from churches in the vicinity. The first stop of Asante…
Illegal Ethiopian migrants who reportedly pay between USD1,200 and USD2,400 to human traffickers to ferry them into Tanzania are regularly abandoned in thick forests at the mercy of hunger, thirst and wild beasts. Tanzanian police and immigration officers recently apprehended 48 such Ethiopians in Ubena forest in Bagamoyo district in acute condition of malnutrition and fatigue. They had been deserted by agents who collected their monies to take them to their destination but failed to keep to their promise, leaving the immigrants to wander in the forest for more than two weeks, without food or water. Mr Ndelema Mwakipesilealso, regional…
For asking the Ugandan Army to take over the management of the National Agricultural Advisory Services, President Yoweri Museveni finds himself dragged to the High Court to explain why his directive should not be countermanded. Court documents quote the plaintiff, Mr Daniel Byaruhanga as being “aggrieved with President Museveni’s directive” at the June 2014 National Heroes’ Day celebrations to the Army High Command to “deploy soldiers in every constituency to monitor government agricultural programmes.” The directive is sequel to President Museveni’s condemnation of NAADs coordinators for having failed the national agric programme aimed at “improving people’s household incomes” through agriculture.…
By Alex C Transcorp Hotels, part of the Transcorp Plc conglomerate, has filed for an N8 billion ($49.3 million) initial public offering of 800 million ordinary shares of 50kobo. The company made the disclosure through a notice to the Nigerian Stock Exchange (NSE). Transcorp Hotels, whose flagship hotel is managed by the Hilton group in Nigeria’s capital city Abuja, is 88 percent-owned by the conglomerate, with the balance held by the Nigerian government. The conglomerate, with interest in power generation, agribusiness and oil and gas has announced plans to expand its hotel business in Nigeria to tap into a growing…
By Alex C Ecobank Nigeria has signed a $20 million line of credit with Brazilian Development Bank BNDES. The facility will address special funding needs of customers and non-customers of Ecobank that import goods from Brazil. BNDES, also known as National Bank for Economic and Social Development, is one of the largest development banks in the world, with financial net worth of $27.40billion and total assets of $353.37 billion in 2013. Foluke Aboderin, Executive Director, Corporate Banking at Ecobank Nigeria, said the partnership is driven by demands from customers and importers requiring competitive financing to purchase products from the international…