Showing posts with label Kano. Show all posts
Showing posts with label Kano. Show all posts

Thursday, 30 June 2016

NIGERIA: Abuja City

Abuja National Mosque

Abuja is the capital of Nigeria. Since most Nigerian government agencies are now headquartered in Abuja and most other countries' embassies have been relocated from Lagos to Abuja, it is a surprisingly expensive city.

In the aftermath of the Nigerian-Biafra War, the Nigerian government sought to locate its capital in a location not predominated by any one ethnic group.

The site of Abuja was chosen for the Federal Capital Territory as it was centrally located and had few existing residents. Plans for Abuja were first announced by decree in 1976. Most of the construction for city began in the 1980's. Today, it is Africa's only purpose-built capital city.

It has an excellent road network, beautiful rolling terrain and modern Nigerian architecture, however this focus on the car means it is a difficult city for pedestrians. As in the rest of Nigeria, electric power is erratic.

Plane
International flights to the Nnamdi Azikwe International Airport are offered by several airlines, notably, Egypt Air, Ethiopian Airlines, Lufthansa, KLM, and British Airways. There are no direct flights to Abuja from the United States.

Although it is possible to fly directly from the U.S. or other locations to Lagos, and take a domestic flight to Abuja, this is not recommended.

The international and domestic terminals in Lagos are not connected and transferring between terminals is a hassle. Furthermore, domestic Nigerian airlines will allow only one bag to be checked on without charge, even if your international arriving flight had a larger baggage allowance.

The airport is located approximately 40 kilometers from the city center. Although construction has begun on a light-rail system to the city center, for now cars are the only realistic way to get to the city.

If your hotel or employer is sending someone to pick you up, get the name of that person and the license plate number of the vehicle in advance. If you do not have a vehicle pre-arranged, take an official (green-colored) taxi.

Bus
You can travel to Abuja by bus from major cities like Lagos, Benin, Kano and Port Harcourt. Reliable services include: ABC Transport (with air conditioned luxurious bus rides), Ekene Dili Chukwu, Chisco Transport (CTN) and Young Shall Grow. The preferred bus service would be ABC transport.

However, you are advised to take only day trip buses from Lagos or Kano. You must be conscious that bus trips are not the safest as in rare situations buses have been attacked by robbers. If you're unfamiliar with the country, do not take a bus without an escort.

Buses allow you to appreciate the terrain, the towns and cities and the subtle changes in these and culture as you drive towards the capital either from the south or the north. The building is 150 meters wide and 150 meters long and 50 meters high.

Car
Abuja was a city planned for cars, with loop highway around the city and broad avenues.

Unfortunately, it is difficult to get around without a car, and the strict zoning laws mean that residences are usually far for commercial areas. Abuja does not have the problem of enormous traffic jams or "go slows" as in Lagos. However, the higher speed that cars travel at presents a higher risk of dangerous accidents.

Compounding this are the traffic signals which will stop working during the frequent power outages and the tendency of drivers to ignore lanes and drive dangerously close to other vehicles. Traffic accidents are frequent,so drive defensively. For safety's sake, keep your doors locked and windows rolled up at all times.

Abuja has a few strict driving laws that are enforced. Seat belts are required of both the driver and front seat passenger. Failure to obey this law leads to significant inconveniences as the vehicle is impounded and not released until the fine is paid.

Taxi
Fortunately, for the visitor, taxis are plentiful and cheap. Most are green and some very beaten up, but they get you there. Fares around town (eg a 5km trip) are N300-N400 depending on the mood of the driver and your bargaining skills.

Always agree the fare in advance and try to have exact change. Having a GPS app on your phone and a rough idea of where you should be heading also a good idea. Private taxi companies are also available - offering phone dispatch and better cars, fares for these companies are about N1,500 - N2,000 for a trip across town.

Abuja is a beautiful city. The tourist attractions would be:

5 Abuja Parks
- The Abuja Millennium Park
- The National Mosque
- The Ecumenical Center
- National Assembly Complex
- Aso Rock

Currency Museum of the Central Bank of Nigeria.This small museum, located inside the modern Central Bank of Nigeria building, shows the history of currency used in modern Nigeria as well as ancient mediums of exchange used in west Africa.

The Abuja Millennium Park is being expanded in an ambitious tourist project to include the Millennium Tower and a Cultural Center and Museum that would boast of some of the most expansive collections of African Art. As of February 2009, the Millenium tower is several years from completion.

Other upcoming projects include the Heritage City Theme Park that would be the largest theme park of African civilizations.

Shopping
- Go shopping at Wuse Market, the main market in Abuja. Everything is available, from fresh food to clothes, music, and electronics. And as markets go, not expensive.

Art & Craft village (across the road from Sheraton Hotel)

Abuja has two cinemas

- Silverbird Cinema, Silverbird / Shoprite mall (near Sheraton hotel). Multiscreen googolplex showing recent Hollywood offerings. N1,000 to N2,000 depending on showtime.

- Ceddi Plaza, 7th Street, CBD. Three screen cinema also run by the Silverbird group.

There is some interesting artwork all over Abuja. Wood carvings, paintings and leatherwork. Everything is available in surrounding countries quite a bit cheaper, but if you are here you might as well buy it here.

Food prices in Abuja are high, especially for Western food. There are, however, many good restaurants in Abuja that are arguably worth the money. The Wuse II area is arguably the restaurant hub for Abuja, with new places opening and closing frequently.

Of course, whether you live in Abuja or are just visiting, there are times when you are willing to pay a little extra for the simple fact that there are few to no alternatives.

Exclusive Supermarket 1202 Adetokunbo Ademola Crescent, Wuse II. A cafe/coffeesho p at the back of the supermarket sells good salads, a few Lebanese dishes, icecream, coffee and standard pizza and grilled food. Cheap (Nicoise Salad takeout for N1000).

Mr. Biggs. All over. Burgers.

Mid-range

Rockview Classic Hotel Bar - Adetokunbo Ademola Crescent, Wuse II. Low key bar/ restaurant overlooking the swimming pool in this mid-range hotel (not the indoor restaurant). Worth mentioning as the price/ quality ratio is good by Abuja standards. Tenderloin steak and chips N1,900, Malaysian-style chicken Satay N1,900, Chinese style chicken wings and chips N1,400.
Love Pizza, The Gourmet Pizza People. Freshly baked Italian Pizza made with the finest ingredients. Pizza, wings, salads. Pizzeria, Take out & Delivery; 2 Bouar close, Bangui street, off Ademola Adetokuno Crescent, Wuse 2. (beside Jevenik)
First Turkish Cuisine, 33B Gana Street, Maitama (quite near the Hilton hotel). lunch & dinner. Abuja's only Turkish restaurant? Offers a range of grilled meats, kebabs and lamb chops. The chef is from Turkey and the portions large and tasty by Abuja standards. Mains N2,000 - N2,500.
Schwarma Shop, adjacent to Amigos Supermarket, Wuse II. 700 Naira for Schwarmas and they offer pizzas for somewhere from 1500 Naira.
Southern Fried Chicken. A local knockoff of KFC, but ask them to go easy on the mayo.
Woks & Koi, Silverbird / Shoprite Mall (2nd floor) (near Sheraton hotel), lunch & dinner. Standard shopping mall Chinese restaurant serving moderately unexciting east Asian cuisine, such as beef in oyster sauce. Prices don't include 15% in service & tax, but serving sizes are large, meaning you could share 2 dishes between 3. Mains around N3,000.
Schwarma Shop, adjacent to 212 Supermarket, Usuma St., Maitama. These Schwarmas have cabbage on them. About same price as the one by Amigos
City View, Cape Town Street, Off IBB Way, Wuse Zone 4. Perhaps the best Lebanese food in Abuja, excellent prices, they also host large groups, indoor or outdoor sitting.
Ceddi Plaza has a fast food Chicken restaurant on Second Floor - and Ice Cream
Drumstix, Aminu Kano Crescent. Fast food, Nigerian dishes, Grill, Shawarma and Ice cream.
Tantalizers Burgers. All over.
Cafe at Grand Square, Mohammadu Buhari Way.
Treehouse Grill, 66 Ademola Adetokubo cresent,Beside Mikano Generators, They offer delicious continental dishes with Steaks, Grilled Fish,smoothies, Chicken Kebab with wings and their Milk shake is the best in Abuja.
Cafe at Dunes, Aguiyi Ironsi Street, one on the main floor and one upstairs. Yeah!
MrPickup.biz, Delivery service. Picks up your orders and brings to you for a small fee!
Spice Food In front of Sahad Store, across from Bolton White Hotels, Ahmadu Bellu Road. 07031111005, 08034500653. Delicious Indian food and snacks at very reasonable prices. Main course N1000-N1500, snacks N300-N600. Su-F buffet 12PM-3PM N2000. Dinner 6PM-10PM
AJ's Pizza, adjacent to the Park and Shop in Wuse II, Aminu Kano Crescent, call your order in before you get there 0803 314 0469 or 0804 410 4567, if your order 5 pizzas, ask for free juice.

Splurge

Ciao, Jitau Plaza, Plot 1173, Ademola Adetokunbo Crescent, After AP plaza, Wuse II. A good Italian restaurant with the usual Italian dishes. Expect to pay around 2000 Naira for a dinner with wine. Good Pizzas, but AJ's have more to them.

Chopsticks, Plot 66 Mississippi St, Maitama. Good Chinese food, a couple should share one order of a main dish and either rice or noodles. 2000-about 5000 Naira for main dishes. Has cocktail bar.
Sitar, 46 Usuma St, Maitama. Indian food.
Wakkis, Like Sitar but more reasonable prices, this might be considered moderate instead of Splurge. Amino Kano Crescent, follow signs, Wuse II. 1500-2500 main dishes, good seafood. Amazing King Prawns!
Blakes, Fish bar, add unknown, Garki District.
Ubudu Grill Steakhouse at the Sheraton You won't spend less than $50 USD here, but the steaks are excellent.
Chez Victor Reasonably high quality French food and some francophone African dishes such as yassa poulet. Sandwiches with lunchtime specials. Nice house converted into comfortable restaurant. Nigerian owned. 2000+ Naira for main dishes. Ganges Street off Alvan Ikoku Way, Maitama. Next to NEPAD Nigeria offices.
Al Basha Palace Good Mediterranean & Continental food and Pizzas, Shisha. Outdoor, indoor events & parties... 11 Cassandra Street, off Usuma St, Maitama.
LaZeez Place Recently Opened, Usuma Street, Maitama.
Golf Course Has a restaurant with indoor and outdoor seating, would be a good place to have large group gathering, not called Golf Course, but that is where it is.

Drink
Drinks are available all over Abuja and are very overpriced. Average $20 US for some mixed drinks. 5-9 dollars for a local beer. Buy beer from the Market and you will save a lot of money. The major hotels have bars and restaurants - watch out for the call girls, if you ignore them, they get really offended. If you are not interested, just say so and have a short conversation, then they will leave you alone.

Smoothies Parlor
Ceddi Plaza Has a bar on the basement level.
Blakes Has live music or a DJ and drinks as well as the fish bar
British Village Requires a membership to enter and is popular during different sporting events, especially during soccer games and rugby.
Amber Lounge is in Silverbird Galleria, Central Business District
Orchard Garden. Local outdoor place near Millenium Park, set in a grove. Beer around 250N, small BBQ serving e.g. whole grilled fish for 2000N.
saffron, 1,iyaraclose,off misau crescent,off ahmadu bello way,garki 2,abuja. lunch and dinner. saffron,the rooftop restaurant and bar serves INDIAN and CHINESE cuisine together,best place to have the fusion cuisine at one place,open ambience on rooftop makes the evening beautiful as you can see complete view of Abuja city....... 2000 naira to 5000 naira.
City view Resturant. Labnese food.But Awesome best in Abuja.
911 Black, Verdict Plaza, 35 Adetokunbo Ademola Crescent. 8PM - 5AM. A more local crowd and more reasonably priced drinks than some of its Abuja nightlife counterparts, most lively on Fridays (obviously), ladies' night on Wednesdays. Beer - 500 Naira, liquor/champagne 7000+ per bottle.
Emeka's Beer Garden, Wuye (Across from the Peace Haven Hotel, follow the road past the local Water Board. 5PM-3AM. Charming beer garden in a relatively undeveloped part of the city, near Finance Quarters and Family Worship (use these landmarks to guide your cab driver). Owned by the friendly Emeka, recently repatriated from Japan, where he lived for 20 years. Fluent English, Japanese spoken. Food and drink both available, soccer matches screened regularly. Cheap.

Accomodation

Hotels in Abuja do not score well on the price/ service/ quality ratio.

Many hotels offer large discounts for Friday and Saturday nights. Be sure to confirm if your agreed rate includes tax (typically 10%) service charges, breakfast, internet, parking fees, if there is any early departure fee (i.e if you check out a few days early) even if the bottle of water in your room is complementary etc. and have this written down at check-in.

Most hotels expect payment up front, with the more established ones having credit card machines who are happy to block out some money on your card to cover the bill. Typically it is better to pay in cash if you can, as the black market rate is about 10% better than the official rate (March 2015).

The beacon suites, Garki 2, 1,Iyara close off Misau Crescent, off Ahmadu Bello way, Garki 2.

The Nordic Villa A brand new 4 bedroom boutique hotel furnished in a modern Scandinavian style. The villa is located in a peaceful and safe environment suited for both business and leisure travelers. No. 52, Mike Akhigbe Way, Jabi, Abuja,

Rockview Classic A little dreary but decent. Has gym, tennis courts, pool. The pool bar menu has some better offerings than the bar or restaurant. The 'Classic Hotel is better, and cheaper, than the Rockview Royale/ Annex next door.

King's Inn Hotel, Lobito Crescent Wuse 2, Abuja, Abuja Capital Territory, Nigeria (opposite from UK visa application centre). checkin: sep 4; checkout: sep 5. 10000.

Hotel De Bently N. Okonjo Iweala Way, Utako Abuja. Best Architectural design in Abuja. Its a decent place to stay.

Reiz Continental Hotel Plot 779, Cadastral zone AO, Central Area. Similar to Rockview in terms of standard, but with better service. Has pool too and free minibar (non alcoholic)

Immaculate Plot 111 Adetokunbo Ademola Crescent, Wuse II opposite Cubana Bar, near Diamond Bank. Modern hotel with nice-size rooms and suites. Noisy on weekends because of night club next door, and rooms above kitchen are noisy all the time. Lacks social space like bar/terrace but this is good because there are less prostitutes than in larger hotels. Basic gym and small pool area. Restaurant ok. Reasonable prices and well-located.

Splurge

Decent hotels in Abuja tend to cost well above $200 US per night, despite mediocre.

Hawthorn Suites Abuja - the service is good and the Hotel is beautiful. Part of the Wyndham Group. Five Star. Food is very good. Located at 1 Balanga Street off Ahmadu Bello Way, Garki, Abuja. First left before Sahad. Good Alternative to Hilton and Cheaper - Rates from about N43,000
Transcorp-Hilton - Part of the Hilton Group, this hotel sits on a huge lot and its convention facilities make it something of a social hub in the town. Rooms are small, in serious need of renovation, and terribly overpriced. Located at 1 Aguiyi Ironsi, Maitama Abuja. Rates from About N50,000. Good for weekend lounging by the pool (N2000 entry for non-residents of the hotel) at least.
Sheraton - free wifi for guests over the whole hotel area, rooms are being renovated. The tennis, squash courts are excellent. There is now a new gym overlooking the pool. The old gym is a bit cramped but a big plus for the steam sauna. Hotel rooms are in process of renovation and everything in the hotel (eg. food, laundry) is unreasonably expensive. Although they have a nice breakfast buffet (costs extra). Service has worsened over time but the outdoor food and steakhouse are still good.
Dunes This is a well-known Lebanese-run supermarket with imported goods. Above are hotel rooms. Well run, convenient, restaurant on site.
Protea Hotels All over the city. Clean and nice.

Staying safe
Abuja tends to be a sharp contrast against the background of the rest of Nigeria. While car hijackings and armed robbery are high in Lagos, and kidnapping of foreign oil workers is prevalent in the Niger delta, Abuja in sharp contrast, is one of the safest metropolitan cites in Nigeria.

General security measures like elsewhere in the world should be observed. Like anywhere else in the world, it's always a good idea to have company when exploring unfamiliar places. If you're driving, observe simple measures like keeping your car door locked when parked to avoid opportunistic crime. Armed robbery at gun point is the most prevalent form of crime. A calm disposition and full cooperation with robbers is the best line of action in the unlikely event that you are the victim of a robbery.

Robbers tend to become violent when victims try to pull tricks. Contact your embassy in Abuja and the police if you are robbed. Occasional pick pockets target mobile phones and wallets as well. Do not carry large amounts of cash. Usually, $250 US cash (or N30,000) would more than suffice for impulsive purchases and other daily costs.

Use only the official Green Cabs. Drivers of regular cars frequently cruise around seeking paying passengers; accepting such a ride is dangerous and passengers have been robbed in this manner. Stick with licensed green cabs. Cab fares would be around N500 ($4) for trips within the city. Cab rides to the airport are significantly higher. Negotiate a fare before you enter a cab.

There have been many reports of fraudulent use of credit card details almost immediately after people have used their cards to pay hotel deposits, even in the very top hotels.

Embassies and High Commissions
Australia,Belgium,Canada,Egypt,Czech Republic,Finland,France,Hungary,Germany,Greece,India,Ireland,Israel,Italy,Malaysia,The Netherlands, Norway,Turkey,Romania,Russia,Serbia,Switzerland,Trinidad and Tobago,United Kingdom of Great Britain and Northern Ireland,Ukraine,United States of America,Venezuela,Zambia.

Thursday, 23 June 2016

NIGERIA: Lagos Airport Terminal Almost Complete

Murtala Mohammed International Airport
Passengers and stakeholders at the Murtala Mohammed International Airport (MMIA) Ikeja, Lagos will soon witness improved services at the airport as the new terminal under construction has reached completion stage.

Our correspondent who was at the international wing of the airport reports that the terminal with the capacity to process 30 million passengers is almost ready for hand-over to the government.

Unlike before, when the project was kept away from the glimpse of people as the work progressed, visitors and passengers especially airport officials are now able to view the level of work done.

Looking at the new terminal from a distance, it really gives an impression of a project that is about to be completed.

The Lagos terminal is one of the four terminals being constructed, with other three being the Nnamdi Azikiwe International Airport, Abuja, Port Harcourt International Airport and Malam Aminu Kano International Airport (MAKIA), Kano.

The new terminal when completed is expected to ease passengers' facilitation at the airport and increase passengers' volume from the present 15 million to 30 million as envisaged by government.

The spokesman of Federal Airports Authority of Nigeria (FAAN), Mr. Yakubu Dati, confirmed that the new terminal is at the stage of completion.

He said: "From what we can observe physically, the work is nearing completion. In fact they are just putting finishing touches and we believe that they would be able to meet up with their deadline which is actually the end of the year to deliver the facility.

Thursday, 3 December 2015

NIGERIA: Arik ,Aero And Dana Most Popular And Preffered Airlines In Nigeria

A recent survey by a Nigerian business and management consulting company, Phillips Consulting Limited has revealed that out of the 20 domestic airlines operating in Nigeria to major cities such as Lagos, Calabar, Abuja and Enugu- Aero Contractors, Arik Air and Dana Airlines are the most preferred airlines.

This survey was done between May and August 2015 in order to determine the perception and expectations of domestic travellers. Despite flight delays and safety concerns of these airlines Aero contractors ranked first with 39 percent, followed by Arik Air with 34 percent and Dana Airlines with 10 percent.

Aero Contractors, which is the oldest airline in Nigeria and operates 50 daily flights across Nigeria and other West African countries was the most preferred airline by Nigerians. According to the survey, then this is because of its affordable ticketing price.

Airline fares are as low as N10, 000 and passengers enjoy discounts for booking their flight ahead of time with added incentive for paying online and booking on hold.

In August 2015, Aero Contractors won the Exceptional Safety Culture Award. Domestic routes flown by Aero include Abuja, Accra, Benin, Calabar, Enugu, Kano, Lagos, Port Harcourt(Omagwa Int’l Airport), Port Harcourt (NAF Base), Owerri, Warri and Uyo.

In view of the numerous plane crashes, which have plagued the country over the past years, Arik Air which is West and Central Africa’s largest carrier has continued to lead in terms of its safety standards. As a reult of this 23 percent of the respondents chose Arik as their preferred airline.

Arik air has won several awards such as the Best Safety and Security Conscious Airline in West and Central Africa for four consecutive years (2010-2014) and the Best Airline in Africa, 2014.

Domestic routes flown by Arik in Nigeria include Lagos, Kano, Abuja, Port-Harcourt, Benin, Enugu, Warri, Uyo, Yola, among others.

Despite the Dana plane crash in June 3, 2012 , which is the second deadliest crash in Nigeria, Dana is still a preferred airline by domestic travellers in Nigeria. Dana Airline is preferred by domestic travellers in Nigeria for its prompt flight departures as well as good quality service. Respondents from the survey commended the appearance and courteousness shown to passengers by Dana’s air crew, their meals, cabin cleanliness and seat comfort.

During the 2015 edition of Nigerian Customer Service Award (NCSA) held at Sheraton Lagos, Dana Airline beat all Nigerian airlines to emerge as the best customer service airline in Nigeria and Most Efficient Airline in 2014. Dana Airline’s domestic routes in Nigeria include Lagos, Abuja, Port-Harcourt and Uyo.

Following an appeal from the Minister of Defence, Dan Ali Mohammed that the Central Bank of Nigeria (CBN) should prolong the duration for the registration of Biometric Verification Number for officers of the Nigeria Armed Forces, the Central Bank of Nigeria (CBN) has approved the extension to enable them access to their salaries.

Alhaji Suleiman Barau, Deputy Governor Operations, CBN revealed this to the Senate Committee on Appropriation when he appeared before them in Abuja. He also said that the bank understood the plight of military officers.

The Minister of Defense, Dan Ali Mohammed solicited support from the Senate Committee, pleading that the committee intervene and ensure that BVN registration for military operatives especially in the war front be extended. He explained that considering the circumstances, most soldiers and their families had it rough as they were unable to access their salaries before the deadline.

Dan-Ali said it was highly impossible for soldiers to leave the war front to go for the registration, as such they shouldn’t have to be punished further by being denied access to their accounts.

“Our soldiers in the field cannot access their money because of the BVN: our soldiers should be given extension so that they and their family can access their salary. “We need to appeal to the CBN governor if that can be done as it will enhance the morale of our soldiers,” he said.

The compulsory registration was extended by three months from June 30, 2015 to October 31 to provide ample time enough for millions of Nigerians to participate in the exercise. But as of the beginning of October, data from the Central Bank of Nigeria showed that only 20 million out of the 52 million active bank accounts had been enrolled on the BVN network.

After the long awaited BVN deadline approached, registration continued even though CBN earlier stated that there would be no further extension of the exercise. The accounts of Nigerians who failed to meet the deadline were temporarily blocked, with the condition that they would be able to access their accounts upon registration

Small and medium-sized enterprises (SME’s) are currently the main source of job creation in Africa. They account for over 95% of firms and 60%-70% of employment. Despite this massive contribution to the economy, access to finance is still a major obstacle to the growth of the SME’s on the continent.

In view of this problem, an impact-focused equity crowdfunding portal, Malaik has been created to connect investors interested in impact investment opportunities and entrepreneurs raising equity finance. Malaik offers the global community clear and well-documented opportunities for high impact investing in African businesses, a chance to participate in Africa’s growth story.

Following the launch of Africa’s first impact focused equity crowd funding portal, Malaik, Ventures Africa spoke with the Founder and CEO, Uneku Atawodi to learn more about the portal.

Ventures Africa (VA): Why was Malaik founded?

Uneku Atawodi (UA): Malaik was founded because access to finance is a problem for entrepreneurs in Africa. So many inspiring African entrepreneurs that have amazing ideas, that deserve to be scaled don’t have funds because it’s risky for banks to give out loans to start-up businesses. Malaik helps to close that gap by selling equity in start-up businesses to interested investors.

VA: Can you tell us how long Malaik has been operating and how it works?

UA: Malaik is four months old from idea conception until date. We are proud to preview for the first time at the African Leadership network to the crowd fare. So here is how Malaik works, firstly you logon to our website and register as either an investor or an entrepreneur. An entrepreneur can apply to raise funds for their company through our platform while an investor can apply to be an investor. Once the investor is approved he would be able to see the batch of companies that have gone through our due diligence report and then put the amount he wishes invest. Our investment calculator would automatically calculate how many shares in the company that the investor would get for his investment. For example if the company is raising $100 000, and you invest up to 20% equity, you invest $10,000, you get 2% equity in that company.

VA: What makes Malaik different from other crowd funding portals?

UA: First Malaik is an equity crowd-funding portal, though it’s not just for not- for-profit businesses. We are actually helping businesses that are highly comfortable with the potential to provide a lot of impact and raise funding to scale. The difference is that we only put up companies that have a big attraction and are selling equity finance. As opposed to other crowd funding platforms, Malaik finds you a lead investor or you come with your own investor and if your company is open to the crowd on the platform we would have identified the lead investor. The lead investor takes a minimum of 25% of funds that the company is trying to raise and then the crowd can invest in the same deal terms. So, we allow the crowd to get fair value for their money because the lead investor would have invested their own money in and negotiated deal term.

VA: What are the risks involved in investing in Malaik, because as an investor you would want to know the risks involved in investing in a company?

UA: Once you go on the platform, you have to be approved to be a sophisticated investor. A sophisticated investor understands there is the risk of their shares being diluted and the risk of losing your money investing in startups. We also have a full list analysis that a sophisticated investor is required to understand and we don’t open up to people who don’t understand the basic principles of investing in startups.

VA: How much equity do investors get for their investment?

UA: Companies listed on Malaik decide how much money they want to raise in exchange for a certain percentage of its equity, and each investor’s equity interest will be proportionate to the size of their investment. So if a campaign raises $150,000 in exchange for 20% of its equity, and you invest $1,500 (1% of $150,000), you will receive 0.20% (1% of 20%) of the equity of the business.

VA: What are your Know-Your-Customer (KYC) checks and how do you ensure that the identifications given to you are valid?

UA: Before you enter the platform to make investments, you are required to send us a proof of identification, which can be a passport or a driver’s license and your proof of address. We have stringent KYC checks, if they have any doubts that the person is not who they say they are after they have had a conversation with the risk analysis crew then we will not be allowed to give passwords.

VA: So, how much can one invest in a business?

UA: The minimum investment for a company is $1000 except where specified, if the company comes up and say they want to sell their shares at a higher minimum, then that would be written on the company’s page. On Malaik you are allowed to choose what company you want to invest in, and you are advised to spread your investment through and not put all your money in one company but spread your risk in investing in either two or three companies.

VA: Is it possible for an investor to cancel an investment?

UA: There is a stipulated time that you are allowed to cancel your investment. You are not allowed to cancel if the company is already hit for funding but prior to that, you can.

VA: Do you have specific sectors which you raise funds for on your platform?

UA: We like raising funds for all sectors. We don’t raise funds for companies we see as illegal businesses or immoral businesses. We raise funds for any high impact business. If you have a business that not only provides jobs for people but if you are going to hit them with the UN Sustainable Development Goals then those are the sought of businesses that we are interested in.

VA: Can you tell us about the impact tracker that you use and why it is unique?

UA: The impact trackers focus on companies that not only can be comfortable but can also provide economic impact to the areas where they operate. We track impact using the United Nations Sustainable Development Goals. For example If an entrepreneur comes to us and say she will provide 500 jobs we’ll input that number in our impact tracker and then the entrepreneur is required to report every quarter what impact they’ve been able to have. We target many impact investments and we believe that companies that have trackable metrics can really help Africa hit its growth potential.

VA: In a situation where the company wasn’t able to provide a particular number of jobs as promised, what happens to that company?

UA: If you said you were going to provide 200 jobs by 2018 and you came back and said you’ve been able to provide 20 jobs, we will put that number into your impact tracker and all your investors will see that you have reached 10% of your total aim. So, the impact tracker is the dial that fills up as you hit your aim with what you initially reported to your crowd of investors.

NIGERIA: Airlines Remit $5.57bn Yearly From Ticket Sales In Nigeria

More than 27 foreign airlines flying into Nigeria are remitting over $5.556 billion yearly from the sales of ticket, an aviation expert, Mr. Gbenga Olowo, president of Sabre Network (West Africa), has said. He noted that out of the 48,433 seats available in the international weekly flights from four airports in Lagos, Abuja, Port Harcourt and Kano, Arik Air controls only 3,889.

Olowo lamented that Nigeria had not been able to reciprocate traffic rights to most of the partnering countries. According to him, “this has resulted in huge negative balance of trade against Nigeria. This has brought about capital flight. It has put strong pressure on the naira by weakening the exchange rate.

This aids unemployment as Nigerian airlines’ growth remains stunted.” Olowo, who said that African Airlines had been regarded as too small, weak and fragmented, said that the option for them was to come out of the woods and merge or consolidate. The president urged the Federal Government to reverse all Bilateral Air Services Agreement (BASA) and the negative balance of trade.

He explained that the bilateral, multi-lateral, three layers of air services agreements and open skies agreement, which Nigeria entered into, had created a window of opportunity for foreign carriers to come to Nigeria from multiple points. Olowo said that the multiple points entry by foreign carriers had eroded the operational capacity of the domestic airlines. He noted the objective of the balance of trade had not been achieved.

In a paper he delivered at the 10th African Air Transport Safety & Security Summit, held in Accra, Ghana, with theme: “Building Strong Carriers in Africa: A case study of Nigeria,” Olowo explained that the era of stand-alone was no longer realistic as airlines all over the world are partnering, merging and consolidating to be profitable.

He added regional integration, bridging infra-structure gap (ICT, power, transport, water & sanitation) were the key to sustaining profitable airlines on the continent. Olowo stressed that Nigeria and, indeed, African airlines, must collaborate to succeed. He said: “Africa only holds about three per cent of passenger traffic and about two per cent of cargo in the global air transport equation.

The share of (the global) market African airlines have is diminishing. African airlines are mainly small, weak and under capitalised with poor management. “Twenty-five years ago, there were close to 50 African carriers that were members of International Air Transport Association (IATA); that number has now dwindled to about 20.

“Investments in fuel-efficient aircraft are among the reasons for a 1.7 per cent improvement in fuel efficiency the industry has seen lately.” He added that LAM Mozambique, Air Rwanda, Kenya Airways and Ethiopian Airways had embarked on aircraft modernization by acquiring new models , including the fuel efficient Boeing 787 Dreamliner.

Thursday, 12 November 2015

NIGERIA: Dana Air

Dana Air is an airline based in Ikeja, Lagos State, Nigeria and flying domestic services.Following a fatal air crash in 2012 its licence was suspended, but it was cleared by Nigeria's Civil Aviation Authority to resume flights in 2014

Dana Air serves the following destinations, all of which are in Nigeria:

Abuja – Nnamdi Azikiwe International Airport
Lagos – Murtala Muhammed International Airport
Port Harcourt - Port Harcourt International Airport
Uyo - Akwa Ibom Airport

Before June 2012, Dana Air also served Calabar, Kano.

With an average age of 23 years per airframe, the Dana Air fleet includes the following aircraft:

Boeing 737-500 1
Boeing 737-800 5 Planes - To be leased from Ryanair
McDonnell Douglas MD-83 4 Planes- To be replaced by 737-800
Total 5 5

On 3 June 2012, a McDonnell Douglas MD-83 operating as Flight 992 crashed into a two-story building at Iju Railway, Ishaga a suburb of Lagos. All 153 people on board the aircraft were killed. Following the crash, all flights by Dana Air were halted by Nigeria's Civil Aviation Authority (NCAA). The airline's license was restored in September 2012 before the inquiry into the accident was concluded. However, in October 2013, the airline's license was once again suspended. The airline was audited and resumed flights on 26 January 2014 with 1 Boeing 737-500

Nigeria has numerous other airlines as below:

Aero Contractors
Allied Air
Arik Air
Associated Aviation
Chanchangi Airlines
Dana Air
Dornier Aviation Nigeria
First Nation Airways
IRS Airlines
Kabo Air
Med-View Airline
Max Air
Overland Airways
Pan African Airlines
Wings Aviation