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South Africa : New Year Message by President Jacob Zuma

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Fellow South Africans,

We have come to an end of a very eventful and productive year, which we had dedicated to our leader, the late Oliver Reginald Tambo.

The improvement of the quality of life of our people, especially the poor and the working class, remains a key priority of government, as we work to achieve the type of society that OR Tambo fought for.

In pursuit of this mission, significant strides were made in 2017, in fighting poverty, inequality and unemployment.

Despite serious challenges on the economic front, together we made substantial progress in providing basic services such as electricity, housing, roads, water and sanitation, health care, social grants as well as accessible education.

On the economic front, following a turbulant 2017, we are pleased that we emerged from the technical recession.

The country’s GDP began to show welcome improvements.

In the New Year, we will need to put extra efforts together, to reignite the economy and promote growth and also to make it inclusive and beneficial to all.

The programme of Radical Socio-Economic Transformation will thus be the main focus of government in the year 2018 and it will inform the delivery of our programmes.

Through our Industrial Policy Action Plan and other programmes, South Africa will continue to promote investments particularly in key strategic sectors such as energy, manufacturing, transport, telecommunications, water, tourism, the oceans economy, mining and agriculture.

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We will also continue to lay a firm foundation for greater growth through our infrastructure rollout programme.

We will also intensify investment in education in 2018.

We have already over the years expanded access to free education for children from poor households.

More than nine million children attend no fee schools, which represents at least 80 percent of our schools.

We will continue to eliminate mud schools and inappropriate school structures, replacing them with state-of-the-art buildings, especially in rural areas and other neglected communities.

We announced the provision of free higher education for young people at universities and colleges who come from poor households earlier this month.

The intervention must be the beginning of a skills revolution in our country, in pursuit of the radical socio-economic transformation programme.

Compatriots

We must work harder to build a truly caring society in 2018.

We must work together to eradicate crime, drugs and substance abuse as well as violence against women and children in our communities.

The year 2018 marks the centenary of the late President Nelson Mandela.

We should use the year to celebrate his contribution and promote unity and togetherness in our country.

Let us work together to build a truly united, non-racial, non-sexist, democratic and prosperous South Africa.

Where we disagree, let us do so with dignity and respect and promote unity and cohesion as we build our country together.

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As we enjoy our festive holidays, let us do so responsibly, and promote the safety and security of all in our country together.

We also wish the Matric Class of 2017 success as they await their National Senior Certificate results.

We wish you a happy, fruitful and prosperous New Year, 2018!

I thank you

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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