Corporate Governance – Upbeet Communications http://upbeetcommunications.com/ Wed, 28 Sep 2022 06:06:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://upbeetcommunications.com/wp-content/uploads/2021/07/icon-3.png Corporate Governance – Upbeet Communications http://upbeetcommunications.com/ 32 32 Rebecca Miano: Profile of a Named Business Guru in Ruto’s Cabinet https://upbeetcommunications.com/rebecca-miano-profile-of-a-named-business-guru-in-rutos-cabinet/ Wed, 28 Sep 2022 05:49:44 +0000 https://upbeetcommunications.com/rebecca-miano-profile-of-a-named-business-guru-in-rutos-cabinet/ Rebecca Miano has been appointed cabinet secretary of the East African Community, joining several female leaders in President William Ruto’s cabinet. Miano’s roles include building partnerships with other East African communities, discussing and overseeing policies that allow the free movement of goods, people, labor, services and capital from one state to another. The new East […]]]>

Rebecca Miano has been appointed cabinet secretary of the East African Community, joining several female leaders in President William Ruto’s cabinet.

Miano’s roles include building partnerships with other East African communities, discussing and overseeing policies that allow the free movement of goods, people, labor, services and capital from one state to another.

The new East African Community CS is currently the Managing Director and Chief Executive Officer (CEO) of Kenya Electricity Generating Company PLC (KenGen), a position she has held since October 2017.

Rebecca Miano, CEO of Kengen

Case

His profile

Miano has accumulated more than 30 years of experience in the energy sector, which has earned him recognition on the continent as a business leader.

The award-winning business guru is an expert in different fields, including the renewable energy sector, structuring global business projects and developing regulatory frameworks for sustainable development.

Miano is also credited with other areas including business law, corporate governance and policy development.

“She is focused on growing KenGen’s footprint in geothermal development across Africa, and under her leadership the company has successfully implemented several major geothermal projects on the continent,” KenGen describes.

Notably, Miano also founded the Pink Energy Forum at KenGen to address women and gender parity to bridge the gap within the company.

Miano Awards and Accomplishments

Miano has been recognized by different global institutions, celebrating its contribution to the energy sector. In November 2019, she was appointed to the Global Compact Network Board of Directors.

Seven months later, in July 2020, she joined the World Bank Group’s Advisory Board on Gender and Development.

She has also served on the finance committee of the National Council of Churches of Kenya (NCCK) and is a member of several boards besides chairing the giant Stima Sacco Board.

In 2010, KenGen’s CEO won the Corporate Secretary of the Year award in the Champions of Governance Awards series.

His exemplary leadership saw former President Uhuru Kenyatta confer on him the Moran of the Order of the Burning Spear (MBS) in recognition of his outstanding service to the nation in 2019.

Miano was also celebrated among the top 100 female CEOs by Reset Global People in partnership with Pulse and Avance Media, named one of the top 25 influencers in Africa in 2021 by the African Energy Chamber.

File image of Kengen MD Rebecca Miano speaking at a past event

File image of KenGen MD Rebecca Miano speaking at a past event

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Education

Miano holds a Bachelor of Laws (LLB) and a law degree and post-graduate studies in comparative law.

The business guru completed Strathmore University’s Advanced Management Program in 2010.

Miano is also a Chartered Public Secretary of Kenya and a Fellow of the Institute of Chartered Public Secretaries of Kenya (ICPSK) and the Law Society of Kenya (LSK).

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IoD advocates for gender equity and the inclusion of women in governance https://upbeetcommunications.com/iod-advocates-for-gender-equity-and-the-inclusion-of-women-in-governance/ Sat, 24 Sep 2022 14:39:17 +0000 https://upbeetcommunications.com/iod-advocates-for-gender-equity-and-the-inclusion-of-women-in-governance/ The Institute of Directors Nigeria (IoD) has been advocating for a more diverse board of directors in companies across the country to deepen gender equity in the private sector of the economy and the inclusion of more women in governance. “I think it is imperative for us to address the substance of the evolving nature […]]]>

The Institute of Directors Nigeria (IoD) has been advocating for a more diverse board of directors in companies across the country to deepen gender equity in the private sector of the economy and the inclusion of more women in governance.

“I think it is imperative for us to address the substance of the evolving nature of boards of directors, whose focus is on the inclusion of women in nation building. The main objective is to create and raise awareness of the extent of women’s participation in all aspects of the economy,” said Demola Osibogun, Chair of the IoD Women Directors Development Committee.

Speaking at the recent Annual Women Directors Conference 2022 on the theme “Facing the Future: The Changing Nature of Boards of Directors in a Rapidly Changing World”, held at the Ecobank Pan African Center in Lagos, Osibogun said the conference was designed to broaden the horizons of women as the institute’s advocacy forum. “The conference is an advocacy forum to continuously promote the importance and imperatives of creating inclusive growth as a cornerstone of sustainable development,” Osibogun said.

According to her, the theme is a wake-up call for the boards due to its evolving nature. “The choice of this important theme was carefully made in recognition of the global paradigm shift. The scope of change is huge, the pace is extremely fast, everyone is affected and huge expectations are placed firmly on the shoulders of owners, boards and management of the company”.

She reiterated that the IoD remains committed to promoting best practices in corporate governance, including the need for increased participation of women in the private and public sectors of the Nigerian economy.

According to her, diversity issues on boards of directors are essential to the sustainability of companies and organizations.

Kunle Elebute, Chairman of KPMG Africa, in his keynote address, urged female directors to think strategically, saying cost management is a daily activity. He said it is essential that the focus of corporate boards increasingly goes beyond rapid changes in technology; impact of the global economy; increased levels of talent emigration; increased stakeholder expectations; social norms; inclusion and diversity. “As times change, it’s essential that advice continually evolves to stay relevant,” Elebute said.

Also read: Udom calls for the elimination of gender-based violence in Nigeria

According to him, boards must be able to engage in strategy and envision the future of the company by developing a vivid picture of the future.

“Reassess board engagement in strategy, digital transformation, and other accelerating megatrends. Examine the alignment of company purpose, culture, values ​​and strategy, and identify specific practices to facilitate quality board discussions on strategy and the future of company,” he said.

The KPMG chairman also urged directors to prioritize talent, human capital management and CEO succession. He said this will help identify key talent categories in short supply and the company’s strategy to successfully compete for those talents.

“Make sure the company is prepared for a CEO change, whether it’s a succession or an emergency. Understand the company’s talent strategy and its alignment with the strategy more broad and foresee short-term and long-term needs,” Elebute said.

Ije Jidenma, President and Chair of the Board, IoD, in her welcoming remarks, said the progressive board is now moving beyond compliance, saying careful deployment of talent yields better results.

Razia Khan, Chief Economist and Head of Research, Middle East and Africa (MEA), Standard Chartered Bank, said there was a new growth headwind for sub-Saharan Africa. He indicated that central banks may have to slow growth to ensure stability.

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Cyril Shroff Fellowships instituted at Oxford University https://upbeetcommunications.com/cyril-shroff-fellowships-instituted-at-oxford-university/ Thu, 22 Sep 2022 09:29:00 +0000 https://upbeetcommunications.com/cyril-shroff-fellowships-instituted-at-oxford-university/ OXFORD, England & MUMBAI, India–(BUSINESS WIRE)–To commemorate 40 years of legal practice of India’s leading corporate lawyer, Cyril Shroff, Managing Partner, Cyril Amarcand Mangaldas; and the Oxford India Center for Sustainable Development (OICSD) based at Somerville College, University of Oxford, will institute the “Cyril Shroff Scholarships”. The fully-funded fellowships aim to encourage research on pressing […]]]>

OXFORD, England & MUMBAI, India–(BUSINESS WIRE)–To commemorate 40 years of legal practice of India’s leading corporate lawyer, Cyril Shroff, Managing Partner, Cyril Amarcand Mangaldas; and the Oxford India Center for Sustainable Development (OICSD) based at Somerville College, University of Oxford, will institute the “Cyril Shroff Scholarships”. The fully-funded fellowships aim to encourage research on pressing global issues involving law and politics, with a particular focus on climate change and sustainability and seek to support ‘brain gain’ in India by developing a pool of talent highly qualified and their research. This initiative is the first of a broader engagement plan over time.

From 2023, new Cyril Shroff Scholars from OICSD, University of Oxford will spearhead the shared values ​​of [Shroff Family] and Somerville College. The scholarship – three in the first place, with ongoing discussions for the future – will be selected for its far-sighted ambition to create change in India through law and public policy, with the aim of tackling the climate crisis .

Describing the vision behind Cyril Shroff ScholarshipMr. Cyril Shroff, Managing Partner, Cyril Amarcand Mangaldassaid, “On my 40e professional anniversary – I started my ‘giving journey.’ I believe that life is divided into 3 parts – learning, earning and giving. Learning is lifelong and, in recognition of this, my giving journey begins with the scholarship instituted at Somerville College, University of Oxford. I firmly believe that Oxford’s legal and public policy scholars will be instrumental in addressing the intractable challenges facing India, especially the existential challenges of climate change. I also hope it will be brain gain for India. Somerville College at the University of Oxford is an ideal partner on our giving journey – given their history of inclusion, their connection to India and the emancipation of Indian scholarship since the very first Indian woman to study and practice law. This ties in perfectly with our own philosophy of creating the best lawyers for a just world.

Mr. Cyril Shroff has just completed 40 years in the profession. His career spanned some of the country’s most distinguished corporate, financial and commercial cases, which played a central role in building a global reputation for himself and for Cyril Amarcand Mangaldas, the largest law firm in Indian lawyers which he manages as managing partner. He has also played a significant role in the overhaul and professionalization of the legal profession and law firms in India and the adoption of legal technology. At CAM, Mr. Shroff has pioneered and incubated several leading industry practices, most recently ESG, in recognition of the climate crisis and its intersection with economic development and business. Over the years, his passion for a just world, combined with a strong sense of fairness and empathy, has helped CAM firmly establish itself as a trusted advisor to its clients.

Ms Jan Royall, Principal of Somerville College, University of Oxford, traveled to India and shared her views there, “I am proud to see these scholarships become a reality. They will not only be life-changing for the students who receive them, but will help honor and repay the historic contribution made by the Indian scholarship to our leading universities and businesses, creating brain gain for India, rather than brain drain. brains. Having spent time with Cyril Shroff in Mumbai, I can see his strong commitment to a more sustainable world and his deep intellectual curiosity about these critical issues. We are grateful to him for his philanthropic commitment to this enterprise.

Ms Royall had a distinguished career in politics, including as Chief Whip in the House of Lords and then as Leader of the House from 2008 to 2010. She also served as Shadow Leader of the House of Lords from 2010 to 2015. Prior to her parliamentary career, she was a senior adviser to the European Commission before heading its office in Wales. In 2004 she was appointed to the Lords as Baroness Royall de Blaisdon and in 2005 became Government Spokesperson for Health, International Development, Foreign and Commonwealth Affairs. Ms. Royall works with governments, political parties and NGOs in many countries on democracy building, leadership, civil society development and women’s empowerment.

Mr. Cyril Shroff has over 40 years of experience in a wide range of practice areas, including corporate and securities law, litigation, banking, bankruptcy and infrastructure. A thought leader and visionary, Mr. Shroff has always been classified as “Star Practitionerin India by Chambers Global. Widely regarded as the “M&A King of Indiahe advised on many first-of-its-kind transactions in India. He was also very active on the public policy front and helped shape fundamental reforms, drafting essential laws and regulations. He is Chairman of the ESG Advisory Board of SES, the Corporate Law Committee of FICCI, the CII National Committee on Regulatory Matters for the Financial Sector and has served on several committees of the Securities and Exchange Board of India including the Uday Committee. Kotak on corporate governance. and SEBI Committee on Insider Trading. Mr. Shroff is also a member of the advisory board of the Center for Study of the Legal Profession established by Harvard Law School. He also sits on the board of the University of Krea.

CAM is India’s largest full-service law firm with a global reputation of being a trusted advisor. The firm has 1,000 lawyers and 160 partners across seven offices in India and Singapore. The firm recently received the ‘Innovation in Advancing Markets’ award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the ‘National Law Firm of the Year: India’ award at the 2022 IFLR Asia Pacific Awards Ceremony.

Somerville College, a constituent college of the University of Oxford in England, was founded in 1879 as Somerville Hall, one of its first two women’s colleges. Among his alumni are Margaret Thatcher, Indira Gandhi, Nobel laureate Dorothy Hodgkin. Somerville College plays a major role in relations between Oxford and India. Cornelia Sorabji, born during the Bombay presidency in British India, became the first Indian woman to study at a British university when she came to Somerville in 1889 to study law, while Indira Gandhi, the first female Prime Minister of India, read modern history at college in 1937. In 2012, the college and the University of Oxford announced the Oxford India Center for Sustainable Development (OICSD). It combines research, scholarship and engagement to study the complex challenges and opportunities posed by sustainable development in India. About fifty students have already been supported by the program and are now contributing to the sustainable development of India.

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Guys, I’m leaving this forum. I sold all my 1.25000 shares. I find governance to be a problem and the.. https://upbeetcommunications.com/guys-im-leaving-this-forum-i-sold-all-my-1-25000-shares-i-find-governance-to-be-a-problem-and-the/ Tue, 20 Sep 2022 09:32:01 +0000 https://upbeetcommunications.com/guys-im-leaving-this-forum-i-sold-all-my-1-25000-shares-i-find-governance-to-be-a-problem-and-the/ Listed price: NSE: Rs. 35:30 Really sad to read that you are leaving the counter frustrated after holding the shares for years. There is undoubtedly a problem of transparency and corporate governance. But I have the impression that your exit is untimely!. The FA is over and the market is waiting for the result. If […]]]>

Listed price: NSE: Rs. 35:30

Really sad to read that you are leaving the counter frustrated after holding the shares for years. There is undoubtedly a problem of transparency and corporate governance. But I have the impression that your exit is untimely!. The FA is over and the market is waiting for the result. If there are adverse findings, such aberrations will be settled by penalties, say a few crores. But after that, investors can rest assured that the future can be flawless. BCG is in a booming industry and doing well quarter after quarter! As a fellow investor, I suggest you consider re-entering at the appropriate time and level. I wish you good luck. Cheers.

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Really sad to read that you are leaving the counter frustrated after holding the shares for years. There is undoubtedly a problem of transparency and corporate governance. But I have the impression that your exit is untimely!. The FA is finished and commercializes …

Thanks to repost this message.

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For Shein and other fast fashion offenders, ESG washing isn’t the answer https://upbeetcommunications.com/for-shein-and-other-fast-fashion-offenders-esg-washing-isnt-the-answer/ Fri, 16 Sep 2022 08:37:38 +0000 https://upbeetcommunications.com/for-shein-and-other-fast-fashion-offenders-esg-washing-isnt-the-answer/ If reports are to be believed, Chinese fast fashion giant Shein is trying to redeem itself, changing its image to justify a steadily declining $100 billion valuation ahead of an ambitious 2024 IPO. a lot of work to do. While the company controls most of the category at 28%, with revenue of $15.7 billion in […]]]>

If reports are to be believed, Chinese fast fashion giant Shein is trying to redeem itself, changing its image to justify a steadily declining $100 billion valuation ahead of an ambitious 2024 IPO. a lot of work to do. While the company controls most of the category at 28%, with revenue of $15.7 billion in 2021, it is also among the worst in environmental sustainability, social justice and governance. business (ESG). To keep prices low and remain relatively free from regulation, it relies on suppliers in China, where Uyghur populations suffer from forced labor and unsafe working conditions. Plus, with wasteful environmental practices entrenched in its model, fast fashion is so harmful that most regulators believe it’s irremediable. As the king of fast fashion, Shein has a lot to answer for.

Yet as the company hires new sustainability-focused leaders and promises a conscious new approach, its efforts to market an enthusiastic ambition to jump on the ESG bandwagon should set it on the path to redemption, right? not ? Not enough.

ESG is not a marketing tactic

Companies, including fast fashion, often fundamentally misunderstand ESG. As a result, many talking heads have mistakenly criticized ESG as a “corporate cancel culture,” reacting as if ESG is “woke” marketing or PR madness. Then others, like Shein, also hope to use ESG to their advantage by engaging in ESG messaging and storytelling without realizing that the model is, at its core, antithetical to ESG’s mission. save the planet.

For Shein and their contemporaries, ESG storytelling without business transformation is a thinly veiled strategy.

Addressing failed and superficial ESG efforts, Kenneth Pucker, former COO of Timberland, explained in Harvard Business Review that adjusting for climate change within a company’s current framework (called “metrics”) is flawed from the start. He added that simply increasing or decreasing the dials in these settings without changing the underlying systems will not yield any results.

For fast fashion, effective ESG demands that instead of existing within their usual parameters of manufacturing disposable garments and cynically moving a dial up or down, that they rethink their entire business, from manufacturing and pricing to employees and supply chains, with the goal of achieving true social justice and climate progress. For most companies, that’s a scary notion, especially if they’re doing it for reputational reasons. However, if a company realizes its responsibility and is obliged to actually help, the “demand” becomes more understandable despite its difficulty.

This is why for Shein and their contemporaries, ESG storytelling without corporate transformation is a thinly veiled strategy. Even companies with the best intentions, those that understand and are driven by the United Nations Sustainable Development Goals, struggle to meet the standards needed to truly create change. It is therefore impossible that companies that adopt ESG for storytelling alone can even hope to make a difference. And studies suggest that if they try to tell stories without making meaningful change, it won’t fly with the American consumer.

Transparency as a real strategy

While fast fashion may be irreparable, other fashion leaders are certainly ready to embed ESG into the heart of their organizations with the right guidance. It is important to find partners – whether it is an ESG or social impact advisory firm or agency – who can help provide this advice.

For example, the right partner can push fashion brands to open up their ESG successes. Having worked with global apparel brands, I can attest that their corporate cultures are still largely outdated and they tend to view their ESG innovations and successes as a competitive advantage. So they wouldn’t, for example, allow others to copy their revolutionary, organic system for cleaning chemicals from the water used in making clothes. They don’t see that it can be both a broader environmental benefit, as well as their company’s story and how they want to help others make change.

While fast fashion may be irreparable, other fashion leaders are certainly ready to embed ESG into the heart of their organizations with the right guidance.

Partners can also encourage truth and humility in a brand’s ESG approach. After all, there is no truly sustainable fashion. All fashion practices cause environmental damage. Understanding this can allow an organization to define both its actions and its messages and help consumers learn how to mitigate this negative impact by avoiding excessive purchases and waste. Patagonia’s famous “Don’t Buy This Jacket” ad was based on this philosophy and could be leveraged industry-wide.

This commitment to truth also extends to reporting, a contested and ineffective building block of ESG that nonetheless requires oversight and verification. Consulting firms and agencies can help bridge the gap between fashion brands and these third-party “verifiers.” Organizations such as the Fair Labor Association or the US Cotton Trust Protocol can provide real metrics in ESG reports that prioritize impact.

While it’s impossible for fast fashion to be, or claim to be, eco-friendly, other fashion brands (and partners who help tell their ESG stories) can contribute to the industry shift needed to really do good for our planet and our future.

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Zambia National Olympic Committee Institutes Board Charter https://upbeetcommunications.com/zambia-national-olympic-committee-institutes-board-charter/ Sun, 11 Sep 2022 09:34:50 +0000 https://upbeetcommunications.com/zambia-national-olympic-committee-institutes-board-charter/ You viewed more than 50 articles in the last 12 months. Keep Olympic News Free Support insidethegames.biz for just £10 For nearly 15 years now, insidethegames.biz has been at the forefront of fearless reporting on what’s happening in the Olympic Movement. As the first website not to be placed behind a paywall, we have made […]]]>

Keep Olympic News Free

Support insidethegames.biz for just £10

For nearly 15 years now, insidethegames.biz has been at the forefront of fearless reporting on what’s happening in the Olympic Movement. As the first website not to be placed behind a paywall, we have made information about the International Olympic Committee, the Olympic and Paralympic Games, the Commonwealth Games and other major events more accessible than ever to everyone.

insidethegames.biz has earned a global reputation for excellent reporting and breadth of coverage. For many of our readers in over 200 countries and territories around the world, the website is an essential part of their daily lives. The ping of our free daily email alert, sent every morning at 6.30am UK time, 365 days a year, landing in their inbox, is as much a part of their day as their first cup of coffee.

Even during the worst times of the COVID-19 pandemic, insidethegames.biz has maintained its high level of daily reporting on all news around the world. We were the first publication in the world to report on the threat facing the Olympic Movement from the coronavirus and have since provided unprecedented coverage of the pandemic.

As the world begins to emerge from the COVID crisis, insidethegames.biz would like to invite you to help us on our journey by funding our independent journalism. Your vital support would enable us to continue to report so comprehensively on the Olympic Movement and the events that shape it. This would mean that we can keep our website open to everyone. Last year, nearly 25 million people read insidethegames.biz, making us by far the largest source of independent information on what’s happening in world sport.

Every contribution, large or small, will help maintain and improve our global coverage in the coming year. Our small, dedicated team has been extremely busy over the past year covering the revamped Olympic and Paralympic Games in Tokyo, an unprecedented logistical challenge that has stretched our limited resources to the limit.

The rest of 2022 will be no less busy or less challenging. We had the Olympic and Paralympic Winter Games in Beijing, where we sent a team of four journalists, and the Commonwealth Games in Birmingham, the World Summer University and the Asian Games in China, the World Games in Alabama and several world championships are coming up. Plus, of course, there’s the FIFA World Cup in Qatar.

Unlike many others, insidethegames.biz is available to everyone, regardless of what they can afford to pay. We do this because we believe that sport belongs to everyone and everyone should be able to read the news regardless of their financial situation. While others try to profit financially from the information, we are committed to sharing it with as many people as possible. The more people can keep abreast of world events and understand their impact, the more transparent sport will be forced to be.

Support insidethegames.biz for just £10 – it only takes a minute. If you can, consider supporting us with a regular amount each month. Thanks.

Read more

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Yemi-Esan wants the IoD charter to be revised https://upbeetcommunications.com/yemi-esan-wants-the-iod-charter-to-be-revised/ Fri, 09 Sep 2022 08:12:11 +0000 https://upbeetcommunications.com/yemi-esan-wants-the-iod-charter-to-be-revised/ Yemi-Esan wants the IoD charter to be revised The head of the Federation’s civil service, Dr. Folasade Yemi-Esan, called for a further review of the amended charter of the Institute of Directors, which is subject to the approval of the President, noting that there is a need to reposition the Institute for greater participation and […]]]>

Yemi-Esan wants the IoD charter to be revised

The head of the Federation’s civil service, Dr. Folasade Yemi-Esan, called for a further review of the amended charter of the Institute of Directors, which is subject to the approval of the President, noting that there is a need to reposition the Institute for greater participation and impact. She said so during a courtesy visit by Board members of the Institute of Trustees (IoD), Nigeria, to Abuja.

Dr Yemi-Esan, who was recently inducted as a Fellow of the Institute, said it was important that the bill presented for approval to His Excellency President Muhammadu Buhari be clear of any ambiguity, pointing out that if it is not properly considered, it will create confusion, especially in the public sector and continue to hamper its consent.

The head of department indicated that the list of functions in the draft law is not precise enough in the areas of regulatory powers, training, the difference between administrators in the private sector and those in the public service, as well as as the promotion of integrity in public services for greater efficiency and productivity.

In her remarks, the President and Chairperson of the Board of Trustees of the Institute of Trustees of Nigeria, Dr. Ije Jidenma, FIoD commended the office of the Head of Civil Service of the Federation for the steps taken to further professionalize the service and make it future-ready, emphasizing that the federal government’s strong commitment to entrenching good corporate governance and ethics is noteworthy and commendable.

She said that IoD, Nigeria is a leading leadership organization that focuses on the professional and development needs of administrators, business leaders and policy makers in the country. She added that the Institute is committed to continuing the professional education and upgrading of the skills of directors, to promoting good corporate governance and best practices in the workplace and in the management of resources, both in both public and private sectors.

Dr. Jidenma, also considered that the reforms underway in the various sectors of the economy, have raised the level of expectations on the performance of the public sector and business leaders, adding that the Institute remains determined to play and to maintain its leadership role in providing the guidance and capacity development needs of its members.

MA Ahmed,
Deputy Director, Communications.
September 8, 2022.

naija newspapers today

Kidnapped school children

Yauri FGC students, Kebbi
448 days 19 hours 11 minutes 15 seconds,


Baptist School Students, Kaduna
430 days 20 hours 52 minutes 40 seconds


Students from Tegina Islamiya, Niger (released)

Spent 88 days from May 30, 2021 to Aug 26, 2021


Report by: PRNigeria.com

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Birmingham ‘set to welcome new audit watchdog’ | David Sapsted https://upbeetcommunications.com/birmingham-set-to-welcome-new-audit-watchdog-david-sapsted/ Tue, 06 Sep 2022 07:59:07 +0000 https://upbeetcommunications.com/birmingham-set-to-welcome-new-audit-watchdog-david-sapsted/ The UK government is to move hundreds more civil service jobs from London after choosing Birmingham as the seat of the country’s new audit regulator, according to a Financial Times report. As part of an ongoing campaign to relocate civil servants from London to the regions, an initial tranche of 200 staff will move to […]]]>

The UK government is to move hundreds more civil service jobs from London after choosing Birmingham as the seat of the country’s new audit regulator, according to a Financial Times report.

As part of an ongoing campaign to relocate civil servants from London to the regions, an initial tranche of 200 staff will move to Birmingham when the new Auditing, Reporting and Governance Authority (Arga) takes effect in 2024.


Related reading from Relocate Global


Shifting the “centerpiece” of broader corporate governance reforms

Arga will be the successor organization to the Financial Reporting Council (FRC), which currently has around 400 staff at its London headquarters, all or most of whom are expected to move to Birmingham eventually.The relocations are part of the government’s ‘leveling up’ scheme, which aims to move 22,000 civil service jobs from London to the regions by 2030. So far, just under a third of moves have been made.Lord Martin Callanan, Under-Secretary of State in the Department for Business, Energy and Industrial Strategy, oversees the Arga project, which is seen as the centerpiece of wider reforms to the way the accountancy profession and the British corporate governance are overseen, says the Financial Times.

Search for Birmingham HQ in progress

Baron Callanan has ordered the FRC to immediately begin finding new headquarters for Arga in Birmingham, where he would like as many staff as possible – including the entire management team – to be based.He also wants as many future recruitments as possible to come from the West Midlands, leaving only a minimal Arga presence in London. One official described the move as a “brilliant opportunity” to boost economic growth beyond the “London bubble”.The official added: “The Minister’s decision gives the FRC clarity. It must act quickly, secure suitable premises and start recruiting and preparing personnel for the Arga base in Birmingham as soon as possible.”

Wider shift of the civil service to the regions

However, the Financial Times has warned that although ministers have approved the planned move, it could still be scuppered by resistance within the FRC.“Another person familiar with Birmingham having been named as the location of the accounting regulator said ‘no plans have been finalised’ and further approvals were required before a move could be approved,” the report reported. FT.“Any decision is likely to be conditional on the passage of legislation to create Arga, which in turn may depend on the appetite of the new Prime Minister to devote parliamentary time to implementing reforms deemed ‘boring’ “by Boris Johnson’s advisers, particularly in the run-up to an election.”The newspaper added that the relocations represented an attempt to reverse a decade of centralization under previous Conservative administrations, which saw 58,000 regional civil service jobs cut and 15,000 jobs created in London between 2010 and 2021.The Department for Business, Energy and Industrial Strategy now has plans for a wider move to the regions with 1,350 civil servants expected to leave London by 2025.



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Foreign airlines and trapped funds https://upbeetcommunications.com/foreign-airlines-and-trapped-funds/ Sat, 03 Sep 2022 23:29:53 +0000 https://upbeetcommunications.com/foreign-airlines-and-trapped-funds/ The The federal government’s release of $265 million of the $646 million owed to foreign airlines operating in the country to settle some of their pending ticket sales is a welcome development. Undoubtedly, this is the first step towards solving the persistent challenges in the aviation sector regarding the inability of foreign airlines to repatriate […]]]>

The The federal government’s release of $265 million of the $646 million owed to foreign airlines operating in the country to settle some of their pending ticket sales is a welcome development. Undoubtedly, this is the first step towards solving the persistent challenges in the aviation sector regarding the inability of foreign airlines to repatriate their ticket sales.

The government should also rush to pay the outstanding balance to avoid being threatened again by the airlines. In the future, it is not good to be threatened by the airlines before paying them the money from the sale of their tickets. A breakdown of the $265 million shows that $230 million is for special foreign exchange (FX) intervention, while $35 million was released through retail SMIS auctions.

The SMIS corresponds to secondary market interventions previously suspended due to the COVID-19 pandemic and dwindling foreign exchange reserves, which at the time stood at less than $34 billion. The SMIS window was created by the Central Bank of Nigeria (CBN) for importers to alleviate the pressures businesses face in the foreign exchange market through the sale of foreign currency to authorized dealers.

Nevertheless, the release of the $265 million is a huge relief for airlines and travelers. To avoid service disruption by foreign airlines, the CBN should develop a transparent plan for the repatriation of funds by foreign airlines, as recommended by aviation experts.

Upon releasing the trapped funds, the CBN’s Director of Corporate Affairs, Mr. Osita Nwanosiobi, said the apex bank was concerned about unsettled ticket sales and the consequences for the aviation sector, travelers and the image of the country. He also explained that the bank was not against an airline’s plan to repatriate its funds from Nigeria.

Previously, there were concerns about the millions of dollars allegedly earned by foreign airlines in the country, which they could not repatriate due to the scarcity of foreign currency. Consequently, some foreign airlines have increased their airfares and reduced their flights to Nigeria.

As the fund was trapped, foreign airlines threatened to blacklist Nigeria. Some of the airlines, such as Emirates and British Airways, have recently decided to suspend flight operations in Nigeria, effective September 1, 2022. British Airways and other airlines have also ordered their agents in Nigeria to stop operating sell their tickets due to difficulties repatriating more than $464 million. tickets are sold in their respective countries of origin.

The International Air Transport Association (IATA) had also expressed disappointment at the federal government’s inability to allow foreign airlines to repatriate their trapped funds. The high cost of aviation fuel is another looming challenge for the sector.

The aviation sector is in distress, literally trying to survive. This is why some of the national airlines have announced their intention to suspend their operations if the situation does not improve soon. Some of the national airlines have downsized to stay afloat.

Recently, domestic airline operators asked the Nigeria Civil Aviation Authority (NCAA) to review the 5% it currently collects as a surcharge and adopt a new surcharge of 25-40% on airfare in its place. aviation fuel consumption. This is probably the only way for them to cope with the rising cost of aviation fuel, estimated at over N800/litre. Until now, it was sold around 250 N/litre.

Let the federal government address the challenges in the aviation sector so that foreign airlines do not consider suspending their operations in Nigeria. National airlines should be helped to stay in business. The inability of airlines to access forex can lead to their collapse.

According to IATA, due to the shortage of foreign exchange in the country, the aviation sector lost around $700 million. About 90,000 jobs in the sectors would be threatened. This will worsen the unemployment rate in the country.

If the government is unable to address the challenges in the sector, it will be difficult to attract foreign direct investment, which will further boost economic growth. Moreover, the plan to unveil a new national carrier will not work if the national airlines are struggling to survive.

Overall, we urge the government to put in place the necessary structures that will make Nigerian airspace safe and attractive to foreign tourists. In addition, good corporate governance is required, which includes putting in place the appropriate policy and regulatory framework at all our local and international airports, in accordance with International Civil Aviation Organization (ICAO) regulations. Now, foreign airlines should not be allowed to suspend operations due to unsettled debts.

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In the wake of LaFlamme’s exit, how effective are independent workplace reviews? https://upbeetcommunications.com/in-the-wake-of-laflammes-exit-how-effective-are-independent-workplace-reviews/ Tue, 30 Aug 2022 16:40:12 +0000 https://upbeetcommunications.com/in-the-wake-of-laflammes-exit-how-effective-are-independent-workplace-reviews/ Richard Leblanc, professor of governance and law at York University, does not believe this is a publicity stunt, but says it is possible that Bell Media or any other company could “stifle the process thus rendering the examination unnecessary. . As Bell Media faces independent workplace scrutiny following the firing of Lisa LaFlamme as CTV […]]]>

Richard Leblanc, professor of governance and law at York University, does not believe this is a publicity stunt, but says it is possible that Bell Media or any other company could “stifle the process thus rendering the examination unnecessary. .

As Bell Media faces independent workplace scrutiny following the firing of Lisa LaFlamme as CTV National News’ senior anchor, a corporate governance expert warns the move does not guarantee the change.

Richard Leblanc, professor of governance and law at York University, does not believe this is a publicity stunt, but says it is possible that Bell Media or any other company could “stifle the process thus rendering the examination unnecessary. .

He also says that employees should be encouraged to participate in confidential interviews and that the third party conducting the review should make it easy for employees to come forward.

In a social media post Friday, August 26, the Chief Executive Officer (CEO) of BCE Inc., Bell Media’s parent company, said an independent review involving “confidential interviews with all employees of the newsroom who choose to participate” is in progress.

Mirko Bibic said Bell Media vice president of news Michael Melling has been the subject of “various allegations” and is on leave pending the outcome of the workplace review.

Leblanc says that for the review to be effective, transparency is imperative, which includes presenting findings and conclusions to employees at the end of the process.

This report from The Canadian Press was first published on August 30, 2022.

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