Major chocolate traders in Ivory Coast are failing to pay a $400-per-tonne premium on beans aimed at curbing farmer poverty, the country’s cocoa regulator said in a draft letter seen by Reuters on Friday. The Coffee and Cocoa Council (CCC) said companies including Mondelēz International Inc(MDLZ.O) were offsetting the Living Income Differential (LID) by offering a negative country differential – normally a premium of 70 to 150 pounds ($99-$212) per tonne to reflect the quality of Ivory Coast’s beans. Mondelēz said it was paying the full LID. “(Mondelēz) does not offer or have any influence over negative country differentials,” the company said in a statement to Reuters. Buyers have been pressing for the country differential to be turned into a country discount, so farmers receive the extra...
Former students of unity schools across the country, under the aegis of the Unity Schools Old Students Association (USOSA), have decried Thursday’s attack on the Federal Government College, Birnin Yauri, Kebbi State during which scores of students and teachers were abducted by bandits. Mr Lawrence Wilbert, the National President of USOSA, in a statement made available to Daily Independent, on Friday, called for an end to such sad incidents in Nigerian schools. The statement read: “The Unity Schools Old Students Association (USOSA) unequivocally condemns the abduction of scores of students and staff of Federal Government College, Birnin Yauri in Kebbi State by bandits in the morning of Thursday 17th June 2021. We also decry the fact that a police officer was killed while some students and s...
President Muhammadu Buhari has described Zambia’s first President and liberation hero, Kenneth Kaunda, as one of the greatest African and world leaders of all time who loved his country and people profoundly. The President’s Spokesman, Malam Garba Shehu, in a statement, quoted Buhari as stating this in his reaction to Kaunda’s death. Newsmen report that Kaunda, who died at the age of 97, ruled Zambia from 1964, when the Southern African country won its independence from Britain, to 1991. Thereafter, the late nationalist became one of the most committed activists against HIV/AIDS in Africa. The President said: “I have received his (Kaunda’s) passing with great shock because I knew his contributions to the development of not only Zambia but also, Africa at large. “We can’t forget in a hurry ...
Dangote Cement Plc has announced the successful issuance of N50 billion series 1 fixed rate senior unsecured bonds, under its new N300 billion multi-instrument issuance programme. In a statement on Tuesday, the cement producer said the bonds were issued on May 26, 2021 at coupon rates of 11.25 percent, 12.50 percent and 13.50 percent for the three, five and seven-year tranches respectively. The bonds will be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange. Dangote Cement said that the proceeds of the bond issuance will be deployed for the company’s expansion projects, short-term debt refinancing and working capital requirements. “Aside from this first issuance of a traditional bond under the new Multi-Instruments Programme, Dangote Cement has registered a programme ena...
As the Independent National Electoral Commission (INEC) announced June 18, 2022 as the date for the governorship election in Ekiti State, a security expert, Dr Oludotun Adetunberu, has called on the aspirants to be real and practical in their campaign promises in the overall interest of the residents. Adetunberu who was speaking with newsmen in Ado-Ekiti, the state capital harped on the need for potential aspirants to the number one seat in the state, prided as the land of honour to put in place structures and processes that would restore the lost glory of the state. The scholar, according to a statement signed by his media manager, Iyiola Oluborode emphasized that Ekiti State has resources that could make it self-sufficient if tapped into and well managed. He charged the leadership of all...
TechCentral MTN Nigeria said on Wednesday it notified some enterprise customers about a potential service disruption to enable them put in place business continuity measures. The local unit of South Africa’s telcoms firm MTN runs Nigeria’s largest mobile phone network which generates around a third of the company’s revenue. The action was “a routine notification to a small group of businesses affected by a specific challenge in very few specific locations,” MTN said. “Maintaining network stability and high levels of customer service remains a key priority for us,” Karl Toriola, MTN Nigeria’s chief executive, said in a statement. Toriola said MTN aimed to inform customers in a timely manner so that they can put in place business continuity measures. Potential disruptions could be due to net...
British lawyer Karim Asad Ahmad Khan has been sworn in as the new chief prosecutor of the International Criminal Court in The Hague. He will perform his duties “honourably, faithfully, impartially and conscientiously,’’ Khan promised before the judges in The Hague on Wednesday. The representatives of the court’s 123 state parties had elected Khan in February. The 51-year-old succeeds Fatou Bensouda, 60, who must step down after nine years under the court’s rules. Khan wants to significantly improve the performance of the prosecution. Proceedings must become more effective and trials before the court more successful, he said in a brief statement. According to him, the criminal court is a sign of hope for justice. “It is an awful testament of the horror of mankind in this 21 century, as we s...