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Vital to integrate youths in economy development: Old Mutual CE

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By Newsday News


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May 18, 2021

BY WINSTONE ANTONIO


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Financial services provider Old Mutual Zimbabwe chief executive, Samuel Matsekete says it is vital to integrate the youth in the development of the economy.

Matsekete’s made the remarks as Eight2Five Innovation Hub powered by Old Mutual Zimbabwe in partnership with British Council Zimbabwe invites young Zimbabwean entrepreneurs aged between 18 to 45 to apply for participation in the Value Creation Challenge (VCC) 2021 edition.


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The VCC was launched last year with the aim of supporting businesses and start-ups that provide innovative and sustainable solutions to Zimbabwe’s socio-economic and environmental challenges.

“The Value Creation Challenge is not only an opportunity to explore the role that financial services can play in helping young people make a successful transition into their most productive years. It is also an opportunity to link young people to real opportunities that exist both in the local and the regional markets,” he said.


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Scenes at the Eight2Five Innovation Hub powered by Old Mutual Zimbabwe in partnership with British Council Zimbabwe

“At this phase of development in Africa the continent’s growth relies on agile businesses that are powered at the core by innovation. We at Old Mutual consider it vital to integrate the youth in the development of our economy. The Value Creation Challenge seeks to demonstrate this thrust, and to assist the youths and young entrepreneurs on this journey.”

Matsekete said this year’s VCC program will be offered both online and in person, providing holistic business management while addressing some of the challenges that have been a result of Covid-19.

“This Value Creation Challenge presents an opportunity for the youth’s innovative solutions to socio economic and environmental challenges through young and funky ventures, digital content creation, data analytics, climate action, and emerging technologies to be amplified for the good of the nation as a whole,” he said.

Matsekete said applications are to be submitted through the online portal URL: https://eight2five.co.zw/apply after reading and understanding the terms and conditions before the 14 of June 2021.

“Eligible businesses and start-ups are encouraged to apply before the 14th of June 2021, after which shortlisted applicants will be invited for interviews. The targets for this challenge are young businesses and start-ups that fall under the following pillars, data analytics, emerging technology, digital content creation, climate action young and funky,” he said.

Matsekete said at least four ambitious start-ups will proceed to this year’s accelerator program which comes with seed capital, mentorship, and capacity building.

“Eight2Five Innovation Hub believes that over the long-term, creating shared values within societies is the most sustainable way to improve livelihoods. This journey starts with transformation of how we do business through digital solutions, accessing skills, and technically assisting each other in our communities,” he said.

Country Director Zimbabwe and Southern Africa Lead · ‎British Council Roland Davies; “Recognising and acknowledging the role young people play in economic and social development is key hence this particular programme is much more streamlined with specific targets in areas or sectors in which young people have passion and interest in developing their businesses.”

We encourage female led businesses to apply, as our cultural relations work aims to bring diverse people together to learn, create and fulfil ambitions. British Council will continue to nurture creativity, innovation and flexibility by engaging a diversity of perspectives and spot new opportunities to work with partners like Old Mutual to achieve greater reach and impact.”

  • Follow Winstone on Twitter @widzoanto


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Africa Finance Corporation – Changing the Narrative on Africa

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Africa is on a major growth trajectory and the future belongs to Africa .


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New luxurious Vic Falls hotel close to opening

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from DANIEL JONES in Victoria Falls, Zimbabwe
VICTORIA FALLS, (CAJ News) – THE multimillion dollar hotel that is the latest such facility in the prime resort town is set to open its doors in the Victoria Falls in July.


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Spencers Creek is building the Palm River Hotel on the edge of the Zambezi River, at a cost of US$24,6 million.

The 71-room four-star hotel, built in partnership with Old Mutual Zimbabwe, targets high end travelers to Zimbabwe’s tourism capital.


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Spencers Creek already runs Ilala Lodge Hotel group, another luxurious facility, in the town.

Heather Kay, the Ilala Lodge general manager, said the new hotel would comprise 60 deluxe rooms, two deluxe suites, two honeymoon suites, two family suites, three executive suites, one presidential suite and one Palm River Villa inclusive of three bedrooms.


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It is also sensitive to disability as it includes two wheelchair accessible rooms.

“Construction of Block A (Acacia) and Block B (Baobab) made up of predominantly Deluxe rooms and a Presidential Suite, together with a refreshing 20-metre infinity pool are now complete and await the arrival of the first guests,” Kay said.


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She said Block C (Combretum) and the main area including the reception, dining hall, bar and fresco restaurant are currently receiving the last of their final touches in preparation for the opening.

Block D (Duiker-berry), Block E (Ebony) and Block F (Fig) are being constructed and expected to be finished this November.

Kay said the hotel is elegantly appointed with comfort and space in mind and the interior design of the rooms is focused on bringing the stylish use of natural tones, locally sourced materials and artwork reflective of the area together.

She said the tastefully modern style of the Queenslander is reflected in the inside as well as the outside, giving a new sense of luxury in the resort city providing guests with comfortable modern convenience.

A river deck on the edge of Zambezi and a large alfresco dining area under a canopy of trees offering an A’la carte service, an outdoor bar, conferencing and events facilities, a pool that transforms into a star wonder-lit completes the luxury.

Palm River has made plans for a shuttle to transport clients between town and the lodge via some areas of interest such as the rainforest, Big Tree, Victoria Falls Bridge and Zambezi National Park.

The Palm hotel is one of a number of tourism developments in Victoria Falls.

President Emmerson Mnangagwa toured the site before construction last year in August.

Construction was delayed by challenges posed by COVID-19.

Recently built lodges in the area include Shearwater Village Explorer, Wild Horizon’s Old Drift and Mbano Manor Hotel and Mpala Jena Camp.

– CAJ News


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De-risking the World’s Future Growth Engine:

African Trade Insurance (ATI) joins The Canada-Africa Chamber of Business

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n our 27-year history as a Chamber of Business (www.CanadaAfrica.ca), the latest range of risk insurance instruments from the African Trade Insurance (ATI) Agency is a major leap forward for Canadian institutional investors and African countries – standing to unlock billions in investment capital.


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ATI facilitates inward investment in Africa by providing insurance against trade and investment risks. This month the organization joined The Canada-Africa Chamber of Business.

‘ATI is a game-changer. From discussions with private equity and pension fund representatives, ATI has the potential to ensure both the perceived and real risks on the continent are well-managed; ensuring investment committees can proceed on deals that until recently may have been deemed too risky,’ says Sebastian Spio-Garbrah, Chair of the Board, Chair of the Board at The Canada-Africa Chamber of Business.


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The Canada-Africa Chamber of Business invites interested parties to learn more.

Join us on Thursday 20 May 2021 at 10:00 ET/ 16:00 CAT / 17:00 EAT


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View the Full Virtual Program (https://bit.ly/3ooyuNB)

RSVP (https://bit.ly/3eSzlmu)


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ATI has a good market position in Africa, based on the scale of its underwriting penetration and benefits from significant local expertise and understanding in a number of African countries. It currently insures trade and investments worth over USD6 billion or an average of 1-2% of GDP annually in its African member countries. ATI’s partners and clients include African Governments, lenders, traders (both domestic & international) and project developers.

‘It has become increasingly clear that to achieve “the Africa we want” the role of private sector must become central in mobilizing the needed resources. Alliances like this one present excellent opportunities to address the development challenges facing our region.’ – Manuel Moses, Chief Executive Officer, ATI

‘During my career on Bay Street, it was clear solutions were needed to unlock the billions of investable capital in Canada. ATI has since developed a suite of products that in my view has dramatically changed the landscape in recent years’  – Deepak Dave, Chief Risk Officer, ATI

ATI’s African Member states contribute, along with international governments, multilaterals and private sector to the pool of capital underwriting investments, without holding any influence over ATI operations. The Nairobi-based multilateral has maintained an ‘A/Stable’ rating for Financial Strength and Counterparty Credit by Standard & Poor’s, and in 2019, ATI obtained an A3/Stable rating from Moody’s.Distributed by APO Group on behalf of The Canada-Africa Chamber of Business.

For More Information:
Garreth Bloor
President
The Canada-Africa Chamber of Business
Tel: +1.647.667.1223
Email: garreth@canadaafrica.ca
Manulife Building RTO
55 Bloor Street West
PO Box 19553
Toronto
Ontario M4W 3T9

About The African Trade Insurance Agency:
ATI was founded in 2001 by African States to cover the trade and investment risks of companies doing business in Africa. ATI predominantly provides Political Risk, Credit Insurance and, Surety Insurance. In 2020, ATI closed the year with a gross exposure of US$6.3 billion and a net profit of US$39.4 million, owing to a strong demand for ATI’s insurance solutions from the international financial sector and from African governments. Since inception, ATI has supported US$66 billion worth of investments and trade into Africa. 
www.ATI-aca.org

About The Canada-Africa Chamber of Business:
The Chamber is committed to accelerating trade, business and investment between Canada and African markets, through world-class networking and information sharing opportunities.

Founded in 1994, the Chamber is based in Toronto and Ottawa, with members located throughout Canada and African markets.

The Chamber is an independent, not-for-profit organization with strong working links with both Canadian and African businesses and governments.
www.CanadaAfrica.ca


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