Day: June 28, 2024

The Federal Competition and Consumer Protection Commission (FCCPC) has urged organisations dedicated to consumer welfare and business-to-customer relationships to promote fair business practices. Its Acting Executive Vice Chairman, Dr Adamu Abdullahi, made the appeal during an engagement between the FCCPC and the National Association of Supermarket Operators of Nigeria/Retail Council of Nigeria on Thursday in Lagos. Abdullahi noted that the commission had identified concerns in the retail sector, especially regarding the inconsistent display of prices, which had led to discrepancies between shelf prices and the final amount charged at the till. To address this, he urged supermarkets to maintain price transparency and consistency, recognising that trust and market integrity hinge on this critical aspect. He explained that while the FCCPC does not regulate prices, it has a mandate to promote fair competition and discourage price gouging and unfair pricing practices. Abdullahi said, 'We don't control prices . But we ensure that there is a level playing field so that the market is open and people can come in, display their wares, and sell at their own prices. 'The price dictates whether you sell your products or not, as far as we're concerned. 'We feel that it's only fair that if the government is trying its very best to bring down the Naira exchange value, then those efforts should also be rewarded by retailers by bringing down the cost of items.' By upholding consumer rights and fostering a competitive marketplace, the FCCPC boss added that the commission aimed to create a conducive environment for both businesses and consumers to thrive. According to him, the commission is dedicated to enforcing compliance with the law, particularly the Standards Organisation of Nigeria (SON) Act, to eradicate deceptive and misleading marketing practices that undermine competition. 'That's why we're here today. The concerns we have in the retail business, especially the formal sector, is this issue of price display on pro ducts. 'This has been a major concern for us because it is what has already led to the ceding of a major supermarket in Abuja. 'This is because the price displayed at the counter is different from the one you pay at the till. And that's misleading and deceptive as far as the regulations are concerned.' Abdullahi hinted that the FCCPC had agreed to form a small technical committee that would look at a Memorandum of Understanding, its draft, and how to work together henceforth. 'We are going to have a lot of capacity building amongst ourselves so that we understand each other, we understand them from the side of businesses. 'They understand us from the side of regulators. That way, we would have a lot of mileage, ' he added. Dr Haresh Keswani, Chairman of the National Association of Supermarket Operators of Nigeria/Retail Council of Nigeria, commended the FCCPC boss for his time and open-mindedness in understanding the importance of retail in Nigeria. Keswani, also the Managing Director of Atee Industies , known as SPAR, said his members were law-abiding companies and they continued to be focused on the consumer, just like the FCCPC. 'As you know, the current retail is the second generation. The first generation died many years ago in the brands of Kingsway, UTC, and all that. 'And the second-generation retails, which are several brands, have been built over many years and are also currently struggling to stay in business. And you all know the reason why they are struggling. Because being compliant in Nigeria is expensive. 'To pay salaries on time, to make sure you pay your taxes, you pay your power energy bills, and you follow the rules is an expensive proposition,' he said. To this end, he noted that the essence of the engagement with the FCCPC was to work on the value chain. Keswani added, 'In this value chain, all four pillars are stakeholders. And we all equally have to do our own bit. I cannot be a midfielder, a defender, a striker, and a goalkeeper. 'We all have a role to play. So this is team pl ay. This is teamwork and we are clearly focused on wanting the retail business to grow. 'Also, we want the consumer to get the best value. But equally, not without everyone stepping onto the ground and playing the game.' Source: News Agency of Nigeria Source: News Agency of Nigeria

The United Nations Economic Commission for Africa (ECA) is undergoing reforms to ensure greater effectiveness in achieving its mandate. The Executive Secretary of ECA, Mr Claver Gatete, said this in a statement on Thursday by the Communications Section of the UN body. The 2nd mid-year review meeting of the activities of the commission started on Tuesday with the theme: 'Enhancing Programme Monitoring and Performance through Tracking the Progress of the Annual Business Plan Implementation'. The four-day Accountability and Performance Review Meeting (APPRM) is aimed at providing the commission with an opportunity to evaluate its mid-year performance. They include challenges, opportunities, lessons learned and how to ensure the organisation's targets are met by the end of the year. The meeting involves presentations by all thematic areas of the commission and a review of those presentations. Gatete said the commission's success in achieving its mandate would hinge on cutting-edge policy research and techno logy. According to him, this will be a catalyst for enhancing its work. He tasked all thematic areas of the commission, including Data and Statistics; Economic Development and Planning, and Gender Equality and Empowerment of Women. Others are macroeconomics and governance; poverty, inequality and social Policy, private sector development and finance, and regional integration and trade, and technology, climate change and natural resource management. The ECA boss also tasked the sub-regional offices to work in a concerted effort for collective results and impact. He further urged commission members to develop more focused programmes that would ensure that the planned activities were achievable. They are also to strengthen their partnerships with partners, including the African Union Commission (AUC), to avoid duplication. Mr Sa'id Adejumobi, Director of the Strategic Planning, Oversight, and Results Division (SPORD) of the commission, described the meeting as essential for assessing progress and making n ecessary adjustments for effective results delivery. SPORD is responsible for organising and coordinating the APPRM. According to Adejumobi, the commission is on track to meeting its 2024 strategic goals, adding that this was primarily based on the UN Agenda 2030 on Sustainable Development and the Agenda 2063 of the African Union member-states. He said that in 2024, the commission supported 254 interventions in 46 countries, as part of its effort to contribute to the continent's development. Source: News Agency of Nigeria Source: News Agency of Nigeria

Addis Ababa: In an attempt to capitalize on the enormous potential benefits of trade on the continent, Ethiopia is now creating its National African Continental Free Trade Area (AfCFTA) Implementation Strategy. The AfCFTA, adopted in 2018, represents a historic effort to unite 55 African Union member states with a combined GDP of nearly 3 trillion USD. This Agreement establishes a legal framework for comprehensive economic integration, aimed at creating a unified African market that fosters the free movement of goods and services, and investment facilitation ultimately strengthening Africa's trading capacity on a global scale at the time of digital age. In 2019, Ethiopia ratified the AfCFTA, demonstrating its commitment to this transformative initiative. As part of its effort in domesticating the Agreement, the country is in the process of developing its national AfCFTA implementation strategy. This strategy will identify key sectors where Ethiopia can gain a competitive advantage under the AfCFTA and in tegrate its economy into regional and global value chains. The strategy prioritizes inclusivity, gender sensitivity, and environmental sustainability, and is essential for enhancing Ethiopia's readiness to fully harness the benefits of the AfCFTA. The Ethiopian Ministry of Trade and Regional Integration in collaboration with the Policy Studies Institute organized national consultation forum on the Development of Ethiopia's AfCFTA implementation strategy, according to Economic Commission for Africa (ECA). A high-profile forum is set to take place in Addis Ababa on Saturday focusing on raising awareness about the AfCFTA and its implications, engaging in discussions about the roles of various stakeholders in Ethiopia's AfCFTA journey, and seeking feedback for the National AfCFTA Implementation Strategy. Government agencies, non-governmental organizations, civil society groups, private sector representatives, and academic institutions are expected to take part at the forum. This collaborative effort is poise d to play a pivotal role in advancing Ethiopia's integration into the African market and driving sustainable economic growth across the continent. Ethiopia is actively taking transformative steps to unlock the immense potential benefits of the AfCFTA, aligning its economic policies with regional integration goals and creating a path for expanded trade opportunities across Africa. The consultation will be held with the support from ECA through its African Trade Policy Center. Source: Ethiopian News Agency

Addis Ababa: Ministry of Labor and Skills and Toppan Gravity have signed Memorandum of Action to work together in skills development and job employment opportunity. Minister of Labor and Skills Muferiat Kamil and Toppan Gravity Managing Director Jean Pierre Ting signed the agreement today in Addis Ababa. Speaking on the occasion, Minister Muferiat said the agreement will provide training skills development for Ethiopian youths in the area of ICT and other related fields. Therefore, the Ethiopian youth who attend training at Toppan Gravity, would have the opportunity to be employed at global companies around the world, she underscored. Toppan Gravity is a UAE based company engaged in printing industry with branch offices across the globe. Muferiat revealed that the company has commenced activities to start business in the printing industry in Ethiopia in partnership with the government. The company has been showing commitment to establish center of excellence in Ethiopia by equipping the young population in the country with the necessary skills and deploy them to its branches across the globe, she added. The partnership agreement is also pivotal to create opportunities for the Ethiopian youth to acquire skills and knowledge, Muferiat said. The minister also highlighted government's ongoing endeavors to create jobs to Ethiopians in the country and abroad. Toppan Gravity Managing Director Jean Pierre Ting on his part said our objective is taking the advantage of all the untapped potential in Ethiopia. "We decided to build the most sophisticated factory and manufacturing facility for the manufacturing of security document and security solutions in Ethiopia because there is plenty of potential in the country. ' With this respect, we are going to bring technology from around the world to share Ethiopia, he added. Source: Ethiopian News Agency

Addis Ababa: A delegation led by the Executive Director for Institute of Foreign Affairs (IFA) Jafar Bedru participated in a high-level international conference in Shanghai, China from 27-28 June 2024. The conference titled 'Building Global Development Transition Partnership in Africa: The Roles of MDBs and China' was hosted by the Shanghai Institute for International Studies (SIIS) in collaboration with China Society for African Studies. The high-level international conference had four major themes aligned with strengthening the China-Africa Cooperation. The conference highlighted the various roles China has been playing in Africa's development and vice versa. The future of China-African relations that need to be strengthened were also issues highlighted in the conference. The Executive Director IFA, Jafar Bedru in his Key Note address stressed the urgent need for further China-Africa Cooperation. He underlined that Ethiopia has been benefiting from China-Africa relations, especially in green transitio ns with the subsequent construction of Industrial parks. Jafar also mentioned the bilateral relations between Ethiopia and China that progressed over the years and currently reached an all-weather strategic partnership. He also, stressed that Ethiopia is the Chinese gateway to Africa. The Conference was attended by government representatives, executives, researchers, and policymakers invited from around Africa and China, according to IFA. Other Ethiopian think tanks such as the Ethiopian Policy Studies Institute (PSI) and the Addis Ababa University Institute for Development Research (IDR) were also in attendance. Source: Ethiopian News Agency