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first_img…as $4B injected into projectDemerara Distillers Limited (DDL) is expected to commission its Tropical Orchard Products Company’s (TOPCO) expanded plant by mid-2020. The project is designed to process and package increased volumes of existing products including cherry, passion fruit, carambola and guava juices as well as new ones including mango, pineapple, citrus and vegetable juices as well as produce pasteurised milk, initially from reconstituted milk and eventually from milk supplied by local dairy farmers.To meet its goal, some $4 million is expected to be injected into the expansion process by DDL. This was according to the company’s Executive Chairman, Komal Samaroo, as he is of the view that the agriculture sector must be developed to include value-added processing of the nation’s fruits, vegetables and milk.The main components of the expansion project are the installation of a one-ton per hour fruit processing line and a 1L Tetra Pak Juice and Milk packaging line.Last week, an update on the project’s progress was shared with representatives of several Government Ministries and agencies. Discussions also focused on the role all stakeholders must play to ensure the success of the project and the benefits to be accrued.This project is expected to benefit farmers through a guarantee that their supply of fruits to TOPCO is secure, with stability of prices in spite of market demand/supply conditions as well as the potential to increase their cultivation of target fruits (cherry, guava, passion fruit, and carambola) to increase supply to TOPCO as well as supply additional fruits and vegetables.This is in addition to the ability to collaborate with a network of technical and financial agriculture support agencies, as part of the holistic market-driven approach to developing partnerships with local fruits and dairy farmersThis week, a meeting with TOPCO and the Agriculture Ministry’s Planning Unit will be held to further advance the collaborative efforts of this project.In 2016, Government had stopped the contract with DDL to supply juice to the National School Feeding Programme. Instead, Caribbean International Distribution Inc (CIDI), a subsidiary of Rudisa Beverages Company of Suriname, was awarded the contract.However, DDL challenged the decision and in 2017 it won its protest after the Bid Protest Committee (BPC) ruled that the criteria as stipulated by the tender documents were not adhered to by the Evaluating Committee.last_img read more

LAUSD, charter schools wrestle over campuses

January 11, 2020 | mrhtxubs | No Comments

first_imgLos Angeles Unified has five shuttered campuses – four of them in the San Fernando Valley – but says it would cost too much to reopen the schools despite pleas for classroom space from the booming charter movement. Charter operators say they can’t afford – and shouldn’t have to pay – the multimillion-dollar cost of renovating the decrepit campuses and preparing them for students. Still, with state money available for charter development and charters a key issue in next month’s school board race, officials on both sides say there may be a way to work together to help the independent campuses evolve. “These seats cost money,” said Greg McNair, the district’s chief administrator for charter schools. The dilemma is exemplified by Highlander Road Elementary in West Hills, which was closed 18 years ago because of declining enrollment in the area. Currently used for storage, the campus was offered by Los Angeles Unified to a charter school, but operators refused because of the $11 million cost to get it ready for students. Charter officials note that voter-approved Proposition 39 makes the district responsible for providing them with classroom space and say LAUSD should foot the bill. District officials say the approximately $85 million remaining from the measure is earmarked to create charter schools in neighborhoods where existing schools are overcrowded – not a situation in the West Valley. Still, Tamar Galatzan, who is challenging school board member Jon Lauritzen in the May 15 runoff, said she would make it a priority to reopen shuttered campuses if she’s elected. “One of the first issues I intend to pursue is how to turn Highlander Road and other closed school sites into thriving schools once again,” she said during a recent news conference at the campus. “We cannot continue to deprive the West Valley and any other neighborhoods in the district of quality schools.” Lauritzen noted that the school board is spending $12 million to reopen Enadia Way Elementary in Canoga Park, and that it may be time to take other campuses out of mothballs. “We have taken on that bureaucracy when we fought to have one of those schools reopen,” Ed Burke, Lauritzen’s chief of staff, said of the Enadia Way project. “And now we will fight to open others as we create the need.” The creation of charter schools is an issue that has sharply divided Lauritzen and Galatzan in their high-profile race to represent the West San Fernando Valley on the LAUSD board. Like the teachers union that supports him, Lauritzen is a critic of charters, maintaining that students can best be served by working through the district. Galatzan, who is backed by Mayor Antonio Villaraigosa and his education-reform movement, maintains that the independent charter schools offer alternatives that help spur student achievement. But LAUSD officials said just a handful of charters have expressed interest in the shuttered schools – Highlander, Collins Street, Oso Avenue and Platt Ranch in the Valley and 98th Street in South L.A. Most of the 103 charters are located over the hill, so the Valley campuses don’t meet their needs. Still, the facility shortage has surfaced as the No. 1 impediment to the growth of the charter movement, with many such schools operating out of churches and warehouses. The district is using the empty campuses for adult education, professional-development centers, staff offices, and in some cases it is leasing them out. Highlander was leased for years to a private school until 2004 and is now being used for storage. LAUSD officials maintain they don’t have enough surplus classroom space in their 850 schools to meet the demand voiced by charters. The district is in the midst of a $19 billion construction program, but only after years of not building schools. “The reality is that the district has what it has and offered what it has to the charter schools under Prop. 39,” McNair said. “The district doesn’t want to hold anything back.” McNair said he’s open to conversation with charter operators about reopening shuttered campuses, but noted there’s just $85 million to be shared among more than 100 charter schools. “We should go jointly and make a reasonable evaluation of cost and reasonable decisions on how much we each want to contribute in terms of resources,” McNair said. “Saying to one school we’ll spend $10 million of the charter bond money to give 300 seats is probably going to make a whole bunch of people upset. “Charter bond money could be utilized in better ways.” naush.boghossian@dailynews.com (818) 713-3722 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! “If they want to partner with us in identifying the cost in order to make an intelligent decision about whether they want to pay the cost, I’d be happy to do that, but that just hasn’t happened yet. “I think this should be a joint venture between the district and charter schools, not just this constant complaining and haranguing about `nothing’s happening,”‘ he said. Caprice Young, who heads the California Charter Schools Association, said she’s prepared to discuss reopening the schools as charters but was skeptical of the district’s commitment. “What our experience has been is we have meetings and meetings and meetings in rooms full of 30 district staff, none of whom have the power to make a decision,” Young said. “We’re ready to meet on it and we’d like to get schools in those campuses, but so far that hasn’t been our experience. “They’re all talk and no action, but we’re ready to get it done.” last_img

first_imgThe Polestar in Letterkenny captured in all its gloryThis year, 2012, Donegal County Council celebrates 21 years of Public Art commissioning in the County and are marking this with the launch of an exhibition that looks back proudly over the last 21 years of Public Art in Donegal.The Per Cent for Art Scheme, which has funded much of the work has been a tremendous scheme that has seen great and diverse projects delivered in all electoral areas around the county.This exhibition reminds us of what can and has been achieved with artistic ambition and shows why Donegal has such a strong reputation for not just public art but for culture in general. If you come to the Regional Cultural Centre to see the exhibition, you will see the variety of work that has been commissioned over the 21 years – photography, drama, poetry, craft, music, architecture, animation, pyrotechnics and sculpture. Everyone will have their favourite piece or project for different reasons.The new public art website is also being launched. When the old website was created just seven years ago, it won a prestigious Irish Design Award, but Donegal County Council know that its critical to keep current, especially with social media. The website has a fresh contemporary feel but the colours of soft green are evocative of Donegal.So, whats the road ahead for Public Art in Donegal? The new draft Public Art Plan – Making Shapes Two (2013 – 2017) is also being launched and this sets out the intention of the Public Art Office for the next 5 years and includes amongst other things the proposal to develop ArtScape at Ards Forest Park, which if developed will be a ‘must see’, iconic visitor attraction in Ards Forest Park. Not only will it build on our reputation in Donegal as a Cultural County but would also lever tremendous economic benefit to Donegal from Cultural Tourism.Donegal County Council are aware of the challenging times we live in but Donegal County Council still believes in a society that values creativity, imagination and expression, believes that the arts generate growth and tourism, believes that the arts enhance our reputation and that the arts enrich our lives. Th exhibition remains open until 8th February 2013.For further details contact Ms. Terre Duffy, Public Art Manager on terre.duffy@donegalcoco.ie.COUNCIL CELEBRATES 21 YEARS OF PUBLIC ART WITH EXHIBITION FOR ALL was last modified: December 5th, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Donegal County ConcilPublic artlast_img read more

DELIGHT AS ROAMING CHARGES TO BE ABOLISHED

December 28, 2019 | mrhtxubs | No Comments

first_imgRoaming charges for mobile phones are to be finally abolished by the summer of 2017.The charges have been a source of much annoyance for phone-users across Donegal for many years.Welcoming the news, Fine Gael Minister of State Joe McHugh, “I welcome confirmation from my colleague, Dublin MEP, Brian Hayes today that roaming charges across the EU will be abolished by June 2017. The decision comes following agreement reached yesterday between the Commission, the Council and the Parliament.” From April 2016 a phrasing out of roaming charges will commence, with roaming charges being abolished by June 2017“I welcome today’s announcement as this is a decision I have been calling on for some time now. This is great news for Irish people and for all EU citizens, who have been paying immoderate mobile phone charges for too long. As a result of this decision, people can expect to pay charges which are four times lower than are currently being paid, making travelling and communicating within the 28 countries of the EU more cost effective for everyone. ”DELIGHT AS ROAMING CHARGES TO BE ABOLISHED was last modified: June 30th, 2015 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:abolisheddonegalroaming chargeslast_img read more

Towing firm gets the boot in crackdown

December 27, 2019 | mrhtxubs | No Comments

first_imgLouise Simpson had backed her car out of a McDonald’s on Wilshire Boulevard when she was suddenly rear-ended by a mysterious tow truck – four or five times. “Are you having a good evening?” a Non Stop Towing truck driver asked before allegedly demanding $180 for hitting his truck. Every hour she waited, he added as three more trucks arrived to block her exit, would cost from $30 to $50 more. That account was among allegations against Non Stop Towing Inc., and its owners, who were named Thursday in a 72-count criminal complaint accusing them of illegally hauling cars from private lots. The move is part of a campaign by city and state officials who want to put a stop to the growing number of illegal tows and extortion attempts by “bandit” towing companies. In addition, the city has sponsored a state bill to crack down on predatory tow-truck operators throughout California. The bill, AB 2210, sailed through the Assembly last week and faces a pending vote in the Senate. Prosecutors said Ronit Woodard also goes by the alias “Ronit Goldfinger.” Non Stop Towing officials declined to comment on the charges. By law, tow-truck operators must operate with a permit, wait at least an hour to tow a car, obtain written permission from property owners and accept credit cards. An investigation by the City Attorney’s Corruption, Fraud and Enforcement Unit found that Non Stop Towing violated the law over a two-year period. Among the charges: A Non Stop driver hooked up an unmarked police vehicle 15 minutes after it was parked on a private lot. When confronted by an undercover officer, the driver allegedly refused to release the car without a $180 payment, or a $278 fee at the tow company lot. A motorist ducked into a florist and returned to find that a Non Stop driver had allegedly blocked her car. Despite showing a receipt, the driver refused to allow her to leave without a $200 payment. A woman returned to her car and found her window broken, allegedly by a Non Stop tow truck driver attempting to move her vehicle. He later told police he was “attempting to move it to a safer location.” Amber Reddin, granddaughter of former LAPD Chief Tom Reddin, stopped in a parking lot for 20 minutes while she dropped off some keys before flying overseas and returned to find her Jeep had been towed by Non Stop. “I expected to pay $120, but when I got charged $400, I knew something was wrong,” said Reddin, 36, of Hollywood, “especially when they didn’t allow me to use a credit card.” City attorneys began prosecuting rogue operators last summer in the San Fernando Valley. Six companies – including 5A Roadside Assistance of Van Nuys, Safety Towing Inc. and its successor, Global Towing – have been indicted. dana.bartholomew@dailynews.com (818) 713-3730160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MORE11 theater productions to see in Southern California this week, Dec. 27-Jan. 2“We live in a city that is dependent on its cars, parking spaces are hard to find,” City Attorney Rocky Delgadillo said at a Hollywood news conference with Assemblywoman Jackie Goldberg, D-Los Angeles, author of the bill. “These predatory tow companies know that … and then hold you hostage. It’s not right.” Non Stop Towing of Los Angeles faces 10 counts each of auto tampering and attempted extortion. Husband-and-wife owners William Sean and Ronit Rene Woodard, both 39, of Stevenson Ranch and West Hollywood, were each charged with 36 counts of auto tampering and 36 counts of attempted extortion. Each charge carries a maximum penalty of one year in jail and fines of $5,000 to $10,000. last_img read more

first_imgThe Donegal Derry Vipers have just completed there tryouts for the 2017 season, attracting a large crop of rookies from both Donegal, Derry and the surrounding areas, looking to pad up for the boys in Red and Gold. Frieda Gallagher the Secretary of the Vipers had this to say “we had a great turnout in both locations, 30 Rookies trying out at the YMCA Drumahoe and 25 at Aura Leisure Center, Letterkenny. I had the job of keeping track of the tryout times and results from the 40 metre dash, the T test and broad jump and I have to say there was some really great times recorded. I want to thank everyone who turned up for the tryouts and gave it there all, especially with the weather conditions as bad as they were. We had guys travelling from as far away as Gweedore and Dungiven for the Letterkenny tryouts and that really shows hunger to make the team and does not go unnoticed. The coaches will now look over the times and the video footage from the 2 tryouts and make a decision on who will be selected for the 2017 panel. Head coach of the Vipers Jason Brock was extremely impressed with what he saw. “Over the last 2 weeks I have seen pace, power and excellent ability in the athletes that came to the tryouts. We tested a couple of the guys on running routes and catching, I gotta say, I’ve seen some match winners amongst the Rookies. We still have to put them in pads and protective gear to test there tackling ability and see how they perform in game scenarios, but without a shadow of doubt, we will be even stronger this year. The Vipers will now be training over the Christmas period and throughout January to get the Rookies and current squad ready for the IAFL1 this coming season where they will face established teams such as the Cork Admirals, Belfast Trojans, Tyrone Titans, South Kildare Soldiers, The Meath Bulldogs, The West Dublin Rhinos and the Waterford Wolves. “We are going to give this season everything, it will be hard and we will have to adjust our tactics and game-play due to the improved standard in this league. Our medium term goal over the next 2-3 years is to win promotion to the Shamrock Bowl Conference, that’s the top flight in Ireland, I believe in my team and we will achieve our goal through hard work and small bit of luck.Donegal American football team complete tryouts for 2017 season was last modified: November 30th, 2016 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:American FootballDonegal/Derry VipersSportlast_img read more

Flooding could follow fall’s fires

December 25, 2019 | mrhtxubs | No Comments

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week Flooding along the Santa Clara caused serious problems from the storms earlier this year, including closure of portions of state Route 126 and destruction of part of the runway at the Santa Paula Airport. Just west of Simi Valley, 80-year flood conditions were reached in the Happy Camp Canyon, an area burned in the 2003 brush fires. The 2003 fires also led to a gigantic buildup of silt and debris behind the Las Llajas Dam, which protects Simi Valley from flooding. This made it necessary this summer to launch a multimillion-dollar cleanup effort with hundreds of trucks to remove the muck behind Las Llajas Dam. Now officials are concerned the same kind of thing could happen as a result of the Topanga Fire if the area is hit by heavy rainfall. The Topanga Fire broke out Sept. 28 and burned from the Rocky Peak area along the Ronald Reagan (118) Freeway at the east end of Simi Valley along the Simi Hills, eventually consuming about 24,000 acres to the outskirts of Old Agoura. “You don’t know where the intense rains are going to occur,” Bandurraga said. “Last year we had intense rainfall in Happy Camp Canyon. “Since we don’t know (where bad weather might hit) we have to cover all of our bases and try to protect everybody as best we can.” If there is heavy rain there will be an increase in runoff and an increase in sediment that can clog up the channels meant to keep flooding water out of homes and businesses in the city. “Las Llajas is a good example of that happens after a fire,” Bandurraga said. “If a detention basin fills up with sediment, it can’t reduce the flows of water as it is designed to do.” Flood control officials say they are working as fast as they can to visit the burned over areas and calculate the potential runoff of water and sediment. They say it might be necessary to build small dams and temporary flood control basins in response to the potential danger until plants can grow back on the hills to help anchor in the soil. Bandurraga said besides Meier and Bus canyons, officials are also concerned about the fire’s impact on Lang Creek that drains from the burned out area to Thousand Oaks, but new debris and water detention basins should help reduce any heavy flows there. On the south side of the Simi Hills officials are concerned about canyons that drain into Malibu Creek. Christopher Stone, principal engineer of the water resources division of the Los Angeles County Department of Public Works, said officials are assessing the potential for flooding and will be taking steps to protect homes and businesses that might be threatened. “We are always concerned about the debris and mud flows that can be anticipated after a fire,” he said. “If we think sediment and debris might impact houses and businesses, we might put up some kind of structure to remove the sediment and debris, some type of barrier to catch that material.” He and others said it’s impossible to know what exactly will happen because it all depends ultimately on the intensity of the rain. Woody Smeck, superintendent of the Santa Monica Mountains National Recreation Area, said officials are hoping the first rains this fall will be mild and start the process of regrowth on the blackened hillsides. “We are very concerned about flooding and are working with the Ventura County Watershed Protection District on actions to stabilize slopes. Hopefully Mother Nature will cooperate and give us moderate rains at first to germinate the seeds to anchor soil,” Smeck said. “We are assessing the situation. It is the surface area that is of concern right now. If there are heavy rains the soil could wash down into the streams and we will certainly take action to prevent that.” Eric Leach, (805) 583-7602 eric.leach@dailynews.com 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! SIMI VALLEY – Although the city escaped serious flooding during the near record rains earlier this year, the coming rainy season has officials concerned because of possible water and mudflows off the thousands of acres of land burned over in the Topanga Fire. Officials said one area of particular concern in Simi Valley as a result of the Topanga Fire is Meier Canyon, which runs through Brandeis-Bardin Institute and out to the Arroyo Simi by the Arroyo Simi Equestrian Center. Another concern is Bus Canyon, which drains to the Arroyo Simi at the west end of the city. “If what happened last year in the Santa Clara River happened in Simi Valley, there could be severe problems. Simi Valley got off pretty light last year,” said Mark Bandurraga, the hydrology section manager at the Ventura County Watershed Protection District. last_img read more

first_img“We are excited to provide fans with an awesome opportunity to experience great basketball games at U.S. Bank Stadium in advance of the 2019 NCAA Men’s Final Four,” says Patrick Talty, SMG General Manager at U.S. Bank Stadium. “The U.S. Bank Stadium Basketball Classic is an accessible way for college basketball fans to enjoy a game in this unique setting. Our participating schools deliver strong match-ups for attendees, and we look forward to working with each university to give their athletes, fans, alumni, and staff a world-class experience.”U.S. Bank Stadium is the home of the Minnesota Vikings and a wide variety of events, including Super Bowl LII and ESPN’s Summer X Games. Since opening in July 2016, the stadium has welcomed over three million visitors, quickly becoming one of the premier stadiums in the world. This basketball classic, including teams from Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Oklahoma, will be the first basketball event in U.S. Bank Stadium’s history.Tickets for the U.S. Bank Stadium Basketball Classic go on sale via a pre-sale starting Aug. 7 at 10 a.m. Drake fans can purchase their pre-sale tickets using the promo code DRAKE18 here. A pre-game Tailgate Party, hosted in the Delta Sky360 Club with food and beverage specials, is available for $35 and begins three hours prior to the first game each day. Tickets for the Tailgate Party are available to the public for purchase on a first come, first serve basis and must be purchased in addition to tickets for the game. All tickets can be purchased at www.ticketmaster.com. Print Friendly Version South Dakota State University vs. University of Northern Iowa Saturday, December 1 – Time TBA University of Minnesota vs. Oklahoma State University Friday, November 30 – Time TBA Saturday, December 1 – Time TBAcenter_img MINNEAPOLIS, Minn. – U.S. Bank Stadium is set to host its first ever basketball event this winter, featuring seven regional teams including the Drake University men’s basketball team and a Big Ten vs. Big 12 match-up. The four-game classic will be held on Nov. 30 and Dec. 1 at U.S. Bank Stadium.Drake fans can purchase their pre-sale tickets using the promo code DRAKE18 hereThe Bulldogs will face North Dakota State Saturday, Dec. 1, at a time to be determined. U.S. Bank Stadium Basketball Classic Schedule North Dakota State University vs. Drake University University of St. Thomas vs. University of Wisconsin–River Falls Friday, November 30 – Time TBAlast_img read more

Philip Omondi Invitational returns this Friday

December 22, 2019 | mrhtxubs | No Comments

first_imgProline have won each of the first two editions of the tournament (file photo)The Philip Omondi Preseason Invitational will return this Friday and Saturday as four teams continue preparations for the upcoming season.The tournament which has taken place in the last two years will see its third edition at the StarTimes stadium, Lugogo.Hosts KCCA FC, two time winners Proline, Uganda Premier league new comers Nyamityobora and Big League money bags Wakiso Giants will compete as they gear up for the 2018/19 season.The first fixture of this year’s edition will see Nyamityobora take on defending champions Proline FC at midday on Friday before KCCA FC tussles it out with Wakiso Giants in the late kick-off.On Saturday, Ibrahim Kirya’s Wakiso Giants kick-start the day against Proline while KCCA FC takes on Nyamityobora.The Philip Omondi Invitational tournament is an annual event played in the memory of arguably Uganda’s greatest footballer of all time-Philip Omomdi.It features four teams including KCCA FC for which Omondi played, Proline (have won each of the first two tournaments) and two other clubs who enter by virtual of invitation.Proline won the last edition after collecting seven (7) points in total.The 2018 fixtures:Friday, 14-09-2018.-Proline vs  Nyamityobora – 12PM-KCCA FC vs Kamuli Park / Wakiso Giants – 3PMSaturday, 15-09-2018.-Kamuli Park vs Proline – 2PM-KCCA FC VS Nyamityobora – 4PMThe First edition participants:Soana FC, KCCA FC, Lweza FC and Proline FCThe Second edition participants:Bright Stars, Maroons FC, Proline FC and KCCA FC.Comments Tags: KCCA FCNyamityoboraPhilip OmondiPhilip Omondi Invitationalproline fcWakiso Giantslast_img read more

New indices to spur Africa investment

December 18, 2019 | mrhtxubs | No Comments

first_imgThe Sub-Saharan ex South Africa 50 (SSAXSA-50) index consists of the 50 top listed equity counters of 10 Sub-Saharan African stock exchanges. It covers the same as the above, but excludes Egypt, Morocco and Tunisia. With Africa increasingly seen as a key market of the future, Nedbank has launched three Africa indices to help investors tap into opportunities on the continent while containing the inherent risks. Growth forecasts for the continent by the International Monetary Fund and the World Bank are among the strongest in the world, while recent research from the Economist Intelligence Unit finds that out of the 20 fastest-growing countries, 15 are African, Nedbank said in a statement earlier this month. This growth is reflected in the increase in the number of African stock markets – up from just a few in 1983 to 20 today, backed by strong equity price gains due to fast-growing economies. “Placing investors at the forefront of the African Renaissance, the Nedbank range of African indices provides investors with an all-round solution to broadening their horizons into Africa.” Specifically designed for investors looking for ways to invest in the continent, the Nedbank Africa Equity Index Series, representing the performance of a broad-based range of African companies, encompasses all these requirements. Africa Equity Index Series 16 October 2009 To provide investors with a measure of the performance of energy, metals and mining producers operating on the continent, Nedbank Capital has launched the Nedbank African Mining Index Series, which accommodates six different commodity classes – diversified metals and mining, gold mining, platinum group metals, base metals, energy and other mining and minerals – and differentiates between major and junior producers. The series includes two indices: SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo material Visser said such indices would need to provide investment managers with a legitimate benchmark and, as such, would have to ensure that performance was not skewed to predominant markets such as Egypt and Nigeria. Primarily providing performance benchmarks, the Africa Equity indices ensure that the heterogeneous nature of the wide range of African equities, markets and countries are captured. African Mining Index Series With a third of the world’s natural mineral resources on African soil, investors also require solutions that allow them to access African mining and exploration opportunities. “One of the most attractive features of this range of indices is that it covers all listed commodity producers that operate primarily on the African continent, irrespective of the domicile of the stock exchange listing,” says Nedbank. As a result, investors can gain access to an attractive selection of African metals and mining operations via first world financial markets – London, Sydney, Toronto, New York and Johannesburg. The two indices offer investors broad-based exposure to the largest, most liquid companies listed on stock exchanges in Africa, combined with the ability to capture new emerging markets in their early stages. It also creates a basis for structuring tradable products to provide access to Africa’s most exciting investment opportunities. The All Africa ex South Africa 100 (AAXSA-100) Index consists of the 100 top listed equity counters of 13 African stock exchanges, namely Botswana, Bourse Regionale des Valeurs Mobilieres (BRVM), Egypt, Ghana, Kenya, Malawi, Mauritius, Morocco, Nigeria, Tunisia, Uganda, Zambia and Zimbabwe. “Equally important, the indices have to be investable to the extent that its performance should be replicable within reasonable limits, with specified minimum market cap and liquidity criteria and limits on exposure to individual stocks, specific markets and sectors,” she said. “Investors broadening their horizons into Africa need comprehensive, replicable and transparent indices, which measure the performance of the major geographical and economic segments,” Nedbank Capital’s Nerina Visser said at the bank’s Africa Investor Conference earlier this month.last_img read more