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LOUISVILLE, Ky., August 24, 2021 / PRNewswire / – Local Initiatives Support Corporation (LISC), the country’s largest community development organization, today announced the launch of a new full-service program office in Louisville nurture inclusive growth and opportunities across the city, with a particular focus on communities with a long history of racial discrimination.

To lead the effort, LISC called on Scott G. Love as the first executive director of LISC Louisville, the national nonprofit 38^e local program office. Love has over 25 years of investment experience Louisville communities, most recently as Vice President / Director of Community Development at Truist Bank where he led support for small business growth, workforce development, affordable housing, economic mobility and equity in education in Kentucky and Ohio.

Previously, he spent 12 years at Louisville Forward, the city’s economic development agency, helping drive a range of development programs, especially in communities often overlooked for investment. Prior to that, he worked for 11 years as Vice President of BB&T Bank (since renamed Truist), managing a large portfolio of commercial loans.

“Scott has the expertise and deep local connections to lead ambitious community investment efforts in Louisville, collaborating with neighborhood organizations, city officials, business leaders and residents on what works best for it. catalyze opportunities, ”said Lisa glover, President and CEO of LISC. “The goal is to help build widely shared prosperity, which gives everyone the chance to succeed, regardless of race, class, age or zip code, as inclusive growth makes the whole region stronger, ”she added.

LISC brings national resources to the city in the form of grants, low-interest loans and equity investments. For example, LISC has invested $ 3 million in the Louisville Urban League Sports and Learning Complex, which opened earlier this year, leveraging capital tied to its federal allocation of new market tax credits to support the project . This is part of over $ 16 million that LISC has already invested in Louisville market to support affordable housing, small businesses and community amenities.

“I can’t think of a more important time to invest in our people and our communities,” said Love, a Milwaukee native who lived in Louisville since 1997. “Whether we’re talking about good housing or strong businesses, healthcare, child care or family income growth, LISC can help connect the dots to create opportunities for residents and grow our economy, by especially in underserved communities. “

LISC’s entry to Louisville comes after more than two years of planning and discussion with the City of Louisville, local community groups, philanthropy and the business community on market forces and needs. Since then, LISC has established a local advisory committee made up of top business, philanthropic and community leaders to help guide its from Louisville efforts. Charlon mcintosh, senior vice president of business operations and services at Humana, chairs the committee.

Through these partnerships and the support of donors, LISC has already started to develop programs to meet local needs around small businesses, economic development, nonprofit capacity building and affordable housing.

“The support of city leaders, businesses and local funders will be essential to our local efforts to address the challenges of economic opportunity and systemic racism, especially as we begin to emerge from the pandemic,” Love said. “We can help close the gaps in health, wealth and opportunity by connecting flexible capital with innovative partners and programs. This is what LISC is doing across the country. “

In addition to her professional work, Love also donates her time to various local organizations. He has served in various capacities on the boards of directors of the Louisville Asset Building Coalition, the Wesley House Community Services, the New Legacy Reentry Corporation, Habitat for Humanity and the Community Action Partnership, among others.

Love can be reached from 25 august^e To [email protected].

About LISC
With residents and partners, LISC forges communities of resilient and inclusive opportunity across America – great places to live, work, visit, do business, and raise families. Since 1979, LISC has invested $ 24 billion to build or rehabilitate more than 436,320 affordable homes and apartments; and develop 74.4 million square feet of commercial, community and educational space. To learn more, visit www.lisc.org and www.lisc.org/louisville.

SOURCE Local Initiatives Support Company (LISC)

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http://www.lisc.org

Two Norfolk Rivers projects received nearly £ 170,000 from a fund to tackle climate change by boosting private investment in nature.

Defra, the Environment Agency and Natural England have announced the first 27 programs to benefit from the £ 10million Natural Environment Investment Readiness Fund (NEIRF).

The fund will help environmental groups, businesses and local authorities capture the economic value of conservation projects – and provide a return on investment by selling carbon or biodiversity credits to private companies seeking to offset their own emissions.

Among them is the Norfolk Wildlife Trust, which will receive £ 99,718 for the Wendling Beck Exemplar Project, aimed at transforming farmland near Dereham through river restoration, grassland and wetland creation.

In doing so, it will create ‘ecosystem services’ including carbon sequestration, nutrient reduction, flood mitigation, groundwater enhancement – so it will seek ways to generate income by selling biodiversity credits, of carbon and nutrients.

Nik Khandpur, Acting Managing Director of the Norfolk Wildlife Trust, said: “Together we want to build a plan that brings together farmers and landowners with conservation organizations to better protect the environment.

“We are delighted that this grant is helping us develop and present new models of sustainably funded land use that will have, at the heart of their concerns, the creation of habitats at the landscape scale, the restoration of the nature and commitment of the people. “

The Wendling Beck Project brings together four farmers, Norfolk Wildlife Trust and Norfolk County Council in partnership with The Nature Conservancy, Norfolk Rivers Trust and Norfolk FWAG.

Norfolk Rivers Trust also received £ 70,000 to explore the application of an ‘environmental impact bond’ to reduce phosphates and other pollutants entering the Stiffkey River, while generating income in the form of ‘phosphate credits’ .

Trust chief executive David Diggens said he was “over the moon” with the funding, which would help build on work already being done alongside Anglian Water to create an integrated man-made wetland on the Ingol River in 2018.

“The idea is to define the sale value of the nutrients held in the wetland, to sell them to a third party who wants to compensate for these nutrients – it could be a developer or anyone,” he said.

“Our specialty is developing and delivering natural capital solutions. We have proven the concept, so this money gives us the opportunity to explore the opportunity to move on to the next phase, to get external funding.”

Part of the Stiffkey River, with a low nutrient water quality status
– Credit: Norfolk Rivers Trust

Environment Minister Rebecca Pow said: “To meet the environmental challenges we face as a result of climate change and biodiversity loss, it is essential that national natural environment projects can attract investment. private sector alongside support from the public sector. “

Spex Capital, the digital health and medical technology investment firm, has partnered with MedCity to identify and fund promising health technology companies, accelerating their journey to commercialization and adoption in global health systems.

The exclusive partnership will support several calls for innovative companies seeking investment, with the first call being launched in September and focusing on companies seeking seed and Series A investments.

As the life sciences cluster organization for London, MedCity has well established relationships across the UK ecosystem and with international life science clusters. As part of the new partnership with Spex Capital, MedCity will use its extensive networks and expertise to attract applications from investor-ready companies that develop digital health technologies and cutting-edge medical technologies.

The investment firm will invest in the most viable of these companies, and with a fundraising target of £ 100million, Spex Capital will be truly implementing a change in digital healthcare. The most promising companies will be offered tickets between 500,000 and 5 million pounds.

Founded in 2021 by serial healthcare tech entrepreneur Claudio D’Angelo, London-based Spex Capital already has a portfolio of seven high-growth companies.

“There is an incredible pool of talent with unexpressed potential in digital health and medical technology, but many innovative companies in the sector do not have access to the right opportunities at their early stages due to a lack of funds and of experience. »Comments Claudio D’Angelo, founder and CEO of Spex Capital. “This is where Spex Capital comes in. Specializing in promoting disruptive businesses at an early stage, our goal is to achieve breakthroughs in healthcare systems globally. I am happy to be working again with MedCity on an exclusive basis with my new company. We’ve refined the process over the years to provide a more efficient review process and I’m excited to see what this call will pay off in terms of talent.

MedCity COO Nicki Bromwich sees the partnership as a natural alignment of shared interests: “Through its funding of transformative health technologies, Spex Capital is allied with MedCity’s own mission to drive innovation and drive investment in the life sciences sector to ultimately improve human health and patients. results. “

Spex Capital was launched earlier this year, with a strong team of fifteen people in place. Comprised of six members of the investment team, seven senior advisors and two venture capital partners, the team was carefully chosen based on the quality of their background and complementary skills in the industry.

Based in London and leveraging its global reach in the industry, Spex Capital is unique in the international proposition it offers to entrepreneurs and investors in healthcare technology. Prior to launch, the company had already established a world-class ecosystem through partnerships and relationships with accelerators and incubators, universities, hospitals, embassies, chambers of commerce, trade bodies, payers and systems. healthcare providers on all continents to source the highest quality technologies from around the world. .

• £ 375million Future Fund: Breakthrough Opens for Apps to Help High Growth, R&D Intensive Companies Bring Breakthrough Technologies to Market

• The government will co-invest with private investors to help develop innovations in UK industries, including life sciences and clean technologies, to stimulate the economy and create jobs

• Chancellor Rishi Sunak will convene a landmark Treasury Connect conference in London later this year to bring together CEOs of the UK’s biggest tech companies and investors.

Under Britain’s Future Fund: Breakthrough program, the government will commit £ 375million in funding for fast-growing companies looking to raise at least £ 30million in investment. To be eligible, companies must have commitments of 70% of an investment round from private investors with a history of financing innovative businesses, such as venture capital firms.

The program will cover the UK’s world-class industries including life sciences, quantum computing and cleantech, and accelerate the deployment of breakthrough innovations that could solve some of society’s biggest challenges – from development of new life-saving drugs to technologies that support the UK’s transition to net zero.
It’s part of the government’s multibillion-pound investment in research and development to help build a future economy, create skilled jobs and solidify the UK’s status as a science superpower.

In addition, Chancellor Rishi Sunak announced today that he will host a Treasury Connect technology conference in East London in September to bring together CEOs and senior executives from the UK’s biggest tech companies and investors.

Chancellor of the Exchequer Rishi Sunak said:

Our Future Fund: Breakthrough Scheme will enable innovative companies across the UK to access the finance they need to grow and bring their transformative technologies to market – while creating highly skilled jobs and stimulating economy as part of our plan for Works.

Technology and innovation will be at the heart of our future economy, which is why we are investing billions in R&D to help consolidate our status as a world leader in this field.

Above all, our investment will encourage collaboration between our most ambitious entrepreneurs and private investors, helping to commercialize breakthrough products such as new drugs and green technologies that could improve our lives, while creating highly skilled jobs that help energize the United Kingdom. economy.

Business Secretary Kwasi Kwarteng said:

The support we have provided over the past year is not only helping businesses survive the pandemic, but also driving growth and jobs for the future, making the UK a global powerhouse in innovation.

The original Future Fund was a huge success in helping leading edge companies get the fuel they need to really get ahead, and we’re building on that with the new Future Fund: Breakthrough Scheme.

Because of the high costs of research and development, high technology companies generally require more capital over longer periods of time than other companies to bring their products to market.

The UK’s most innovative companies are the main drivers of future growth and it is estimated that a 1% growth of these companies could grow the UK economy by £ 38 billion.

In March 2020, the government introduced the Future Fund which successfully supported the high-growth sector during the pandemic so that its potential was not harnessed. This program has provided over £ 1 billion in convertible loans to 1,190 businesses to help them weather the pandemic.

The government is supporting innovative businesses through the Plan for Growth, which includes the Future Fund: Breakthrough, the Next Innovation Strategy and £ 14.9 billion in research and development spending, the highest level in four decades .

• £ 375million Future Fund: Breakthrough Opens for Apps to Help High Growth, R&D Intensive Companies Bring Breakthrough Technologies to Market

• The government will co-invest with private investors to help develop innovations in UK industries, including life sciences and clean technologies, to stimulate the economy and create jobs

• Chancellor Rishi Sunak will convene a landmark Treasury Connect conference in London later this year to bring together CEOs of the UK’s biggest tech companies and investors.

Under Britain’s Future Fund: Breakthrough program, the government will commit £ 375million in funding for fast-growing companies looking to raise at least £ 30million in investment. To be eligible, companies must have commitments of 70% of an investment round from private investors with a history of financing innovative businesses – such as venture capital firms.

The program will cover the UK’s world-class industries including life sciences, quantum computing and cleantech, and accelerate the deployment of breakthrough innovations that could solve some of society’s biggest challenges – from development of new life-saving drugs to technologies that support the UK’s transition to net zero. It’s part of the government’s multibillion-pound investment in research and development to help build a future economy, create skilled jobs and solidify the UK’s status as a science superpower.

In addition, Chancellor Rishi Sunak announced today that he will host a Treasury Connect technology conference in East London in September to bring together CEOs and senior executives from the UK’s biggest tech companies and investors.

Chancellor of the Exchequer Rishi Sunak said:

Our Future Fund: Breakthrough Scheme will enable innovative companies across the UK to access the finance they need to grow and bring their transformative technologies to market – while creating highly skilled jobs and stimulating economy as part of our plan for Works.

Technology and innovation will be at the heart of our future economy, which is why we are investing billions in R&D to help consolidate our status as a global leader in this field.

Above all, our investment will encourage collaboration between our most ambitious entrepreneurs and private investors, helping to commercialize breakthrough products such as new drugs and green technologies that could improve our lives, while creating highly skilled jobs that help energize the United Kingdom. economy.

Business Secretary Kwasi Kwarteng said:

The support we have provided over the past year is not only helping businesses survive the pandemic, but also boosting growth and jobs for the future, making the UK a global powerhouse in innovation.

The original Future Fund was a huge success in helping leading edge companies get the fuel they need to really get ahead, and we’re building on that with the new Future Fund: Breakthrough Scheme.

Because of the high costs of research and development, high technology companies generally require more capital over longer periods of time than other companies to bring their products to market.

The UK’s most innovative companies are the main drivers of future growth and it is estimated that a 1% growth of these companies could grow the UK economy by £ 38 billion.

In March 2020, the government introduced the Future Fund which successfully supported the high-growth sector during the pandemic so that its potential was not harnessed. This program has provided over £ 1 billion in convertible loans to 1,190 businesses to help them weather the pandemic.

The government is supporting innovative businesses through the Plan for Growth, which includes the Future Fund: Breakthrough, the Next Innovation Strategy and £ 14.9 billion in research and development spending, the highest level in four decades .

More information

• Future Fund: Breakthrough was announced in Budget 2021 and will be provided by the government’s British Business Bank, through its subsidiary British Patient Capital. The government has already committed more than £ 1.3bn to a growing portfolio of more than 500 innovative high growth companies through British Patient Capital.

• It will be open for applications on an ongoing basis for R&D intensive companies with well established UK operations.

• For more information on eligibility and criteria, please see the british investment bank

• Future Fund: Breakthrough is separate from the Government’s Future Fund, now closed to new applications, which was launched in April 2020 to address the immediate funding challenge that innovative, private-equity UK companies were facing due to Covid- 19

• Future Fund: Breakthrough will require major investors to sign the Treasury Code for Investing in Women, which commits businesses to improving women entrepreneurs’ access to tools, resources and finance

• During the pandemic, the Chancellor facilitated more than £ 2bn of investment through the Future Fund to ensure high growth companies are not negatively affected by the pandemic as part of the £ 350bn plan to employment

• As announced in the March budget, our innovation strategy will set out the steps the government will take to drive innovation in the UK.

• Public spending on R&D from 2021 to 2022 stands at £ 14.9 billion, its highest level in four decades, demonstrating progress towards our goal of increasing public and private investment in R&D to 2.4% of gross domestic product (GDP) by 2027.

• We are investing more money than ever in basic research, in line with the announcement made during the expenditure review in November 2020 that the government will increase investments in basic research funded by UKRI and the National Academy by more £ 1 billion by 2023 to 2024.

• To bring it all together, we are doubling public funding for R&D to £ 22 billion so UK scientists have access to more funding than ever before.

Sierra Leone Telegraph: June 30, 2021:

Viva Technology, the Presidential Council for Africa (CPA) and Seedstars Africa Ventures announced new public-private partnerships and private investments to support and promote African and diaspora entrepreneurship. These announcements are a further illustration of the dynamics of African entrepreneurship and the increasing attractiveness of technological innovations and economic growth in Africa.

In a joint appeal, Vivatech, CPA coordinator Wilfrid Lauriano Do Rego and Seedstars Africa Ventures also called on large corporations and institutional investors to build on this momentum and join efforts to support Africa’s growing economies with new funding models.

Strong support from Franck Riester, Minister for Foreign Trade and Economic Attractiveness and Cédric O, Minister of State for Digital.

Today’s announcements directly echo the New Deal for Africa signed on May 31 by key African and global heads of state, which declared entrepreneurship as Africa’s greatest asset and called for “African entrepreneurs” [to] access funding by targeting the most crucial phases of their projects, including start-up. said Charles Michel, President of the European Council.

Franck Riester said: “We need to further encourage the development of entrepreneurship in Africa, which is one of the keys to preparing the future of the continent’s youth. This is why we are supporting the ecosystem with the Africa Pass, offered by the CPA and its partners. This new partnership with Seedstars Africa Ventures is an important step in facilitating access to capital finance for entrepreneurs of today and tomorrow. And through its commitment on the continent, Vivatech is helping to accelerate investments in African innovation, in the service of growth.

“The African technology industry is developing at a very rapid pace in sectors such as financial services, mobility, logistics or agritech. However, stronger connections between French and African entrepreneurs and investors must be created in order to build long-term cooperation. This is why I wanted to support this important initiative, which is in line with the objectives of the CPA announced by the President of the Republic in 2017 ”, declares Cédric O.

ANNOUNCEMENT 1: LAUNCH OF THE AFRICATECH AWARDS BY VIVATECHNOLOGY

With the AfricaTech Awards ceremony scheduled for the 2022 edition of VivaTechnology in Paris and online, this pan-African initiative highlights startups and founders with the strongest positive impact for African citizens and societies.

The objective: to identify and bring out the most promising start-up solutions making a significant contribution to African growth in key sectors: Agriculture, Health, Finance, Energy, Retail, Education.

The AfricaTech Awards are more than an award; it’s a call to action – a 360º program that runs throughout the year as the next edition of Viva Technology approaches. The awards offer many benefits such as speaking opportunities, visibility in the media and among companies and venture capitalists, business opportunities and mentoring throughout the year. Viva Technology is very proud to welcome the International Finance Corporation (IFC) as one of its main partners. In addition, the AfricaTech Awards Entrepreneur web series will be launched to inspire and create more opportunities. AfricaTech Awards partners will be announced in the fourth quarter, including a leading international organization, global media partners, companies and VCs.

Makhtar Diop, Managing Director of IFC: “African innovators change countries one start-up at a time and develop local solutions, from fintech to edtech or health. However, more than 80% of African startups report difficulties in accessing finance. To help close this funding gap, I am delighted to join VivaTech today to announce IFC’s collaboration on the new Africa Tech Awards which will identify and promote Africa’s most promising and innovative tech entrepreneurs to can receive financial support, mentoring opportunities and contacts with key investors. . “

ANNOUNCEMENT 2: PASS AFRICA PARTNER WITH SENEGAL AND CTE D’IVOIRE, AND WITH SEEDSTARS AFRICA COMMITTED TO STRENGTHENING LINKS WITH AFRICA ENTREPRENEURSHIP ECOSYSTEMS

Pass Africa is a unique and priority route created within Bpifrance to accelerate entrepreneurs operating between France and African countries, in terms of investment, financing, insurance, guarantees and support for innovation. It is also a mobilized and connected community, which offers networking, communication and partnership opportunities.

As part of today’s announcements, the CPA unveiled major partnerships with its Ivorian and Senegalese counterparts to link the Pass Africa label to programs for diaspora entrepreneurs in these countries. These agreements aim to create synergies and facilitate the exercise of the activities of Pass Africa laureates in partner countries. Other partnerships are under discussion. Finally, Seedstars Africa Ventures and Pass Africa will join forces to facilitate access to capital for startups in the diaspora and provide them with support for the African market and international networks.

Wilfrid Lauriano Do Rego, CPA Coordinator: “Pass Africa is not only a support program for startups, it is a priority. This is the recognition of the priority that we wish to give to the African diaspora in France, a powerful catalyst for innovation and economic growth, both in France and in Africa. We want Pass Africa to be a new response to the challenges of entrepreneurship in the diaspora. And we want to take the successes of these entrepreneurs to the highest level. “

Maxime Bouan, Managing Partner at Seedstars Africa Ventures: “As we constantly seek to expand our partnerships with international and regional institutional players, the approval of Pass Africa will directly contribute to facilitating market access and revenue growth for these entrepreneurs.

ANNOUNCEMENT 3: SEEDSTARS AFRICA VENTURES PARTNERS WITH LBO FRANCE FOR ITS $ 100 MILLION FUND FOR AFRICAN ENTREPRENEURS EARLY STAGE

Aiming to fill the existing investment gap in Africa, Seedstars Africa Ventures is partnering with LBO France as part of the new African strategy of the French private equity firm totaling 6.3 billion euros in commitments. In cooperation with Seedstars, a global emerging market accelerator active in 25 African countries, the fund focuses on financing innovative companies operating in sub-Saharan Africa in seed and Series A towers.

Robert Daussun, CEO of LBO France: “Africa has become the new frontier for LBO France with Venture as one of the strategies that we are implementing on the continent. Innovation is dynamic, the atmosphere is incredibly positive and demographics and the economy are powerful engines. The partnership with Seesdstars is a great opportunity to approach this new market.

The fund closes its third investment, increasing its footprint from education and connectivity to agriculture. It leverages a presence across the region to invest in start-ups in all sectors, beyond the region’s major technology hubs. By investing up to $ 2 million and with reinvestment capacity, the fund acts as the missing link between accelerators and later stage funds.

Maxime Bouan, Managing Partner: “The integration of LBO France is a major step for African entrepreneurship because it shows the attractiveness of the venture capital segment and the growing comfort of international investors to invest in African innovation in phase starting.

Financed by private institutional capital, the fund is joined by public institutions and companies.

Tamim El Zein, Managing Partner: “LBO France’s commitment is a strong signal for the market, encouraging companies and other institutional investors to join forces and take full advantage of the African growth opportunity.

About Viva Technology

In just four years, VivaTech has grown into the largest startup and tech event in Europe and is recognized around the world as a powerful catalyst for business transformation, startup growth and innovation for the common good. Each year, VivaTech brings together the world’s leading business leaders, startups, investors, researchers and thinkers in Paris for a unique experience combining inspiration, networking and innovation showcase. From 2021, VivaTech will be enriched with a digital platform that will bring together an even larger community of innovators. In 2019, VivaTech had already reached 231 million people worldwide and gathered 124,000 visitors on site in Paris, including more than 13,000 startups, 3,000 venture capitalists and 2,500 journalists from 124 countries. The fifth edition of VivaTech takes place from June 16 to 19, 2021.

About the Presidential Council for Africa (CPA)

The Presidential Council for Africa (CPA), which was officially announced in Paris by the President of the Republic Emmanuel Macron on August 29, 2017 in his annual speech to ambassadors, is part of the president’s commitment to renew the partnership between France and the African continent. The members of the CPA are volunteers, drawn from civil society and part of the African diasporas. This independent structure aims to develop a permanent link with civil society, young people and African diasporas, in order to better take into account their expectations and concerns, and to formulate proposals for actions related to promising sectors in the relationship with France. -Africa, such as entrepreneurship, innovation, sustainable development, education, health …

About Seedstars Africa Ventures

Seedstars Africa Ventures is a pan-African venture capital fund positioned as the missing link between early investors (eg The fund focuses on African innovation and seeks to finance and support the continent’s next champions, with an existing presence in 25 countries in sub-Saharan Africa Seedstars Africa Ventures is an institutional fund supported by companies, financial institutions and family offices, both African and international.

Related

Rishi Sunak is expected to announce plans to issue £ 15bn of green gilts in the next fiscal year to boost Britain’s transition to net zero and create green jobs across the country.

The Chancellor will use his first Mansion House speech on Thursday to outline the plans and pledge to make the UK the most “advanced and exciting” financial services center in the world.

The government has already committed to achieving zero net emissions by 2050.

“As the baton passes to a new generation of financial leaders, I feel optimistic for the future. Ambitious at home. Confident internationally,” he said.

“With a plan to make this country the most advanced and exciting financial services center in the world for decades to come, creating prosperity at home and projecting our values ​​abroad.”

Mr. Sunak will announce his intention to require companies to report their environmental and climate impact.

The so-called integrated sustainability disclosure requirements will apply to businesses “across the economy,” the Treasury said.

Companies will also be required to disclose the risks and opportunities they face as a result of climate change.

In recent years, large companies have come under increasing pressure to respond to the climate crisis.

Oil giants BP and Shell have set targets they say will reduce their emissions to “net zero” by the middle of this century.

However, experts fear that companies will set their own goals and that their climate impact disclosures will be impossible to compare against each other.

They called for mandatory reporting, which would make it easier for investors to assess which companies are moving fastest in tackling climate change.

On Wednesday, the government also revealed details of a new green bond which it hopes can unlock some of the savings people collected during the pandemic.

The Treasury will aim to raise at least £ 15 billion through green bonds, using the money to invest in zero-emission buses, offshore wind turbines and efforts to decarbonize homes and buildings.

The bonds will also be used to fund climate change adaptation programs such as flood defenses or tree planting.

Additional reporting by the Press Association

Gombe State Governor Inuwa Yahaya said his administration is putting in place an institutional framework to create an enabling environment for the investment and export of agro-allies in the state.

Inuwa said this when he visited the executive director of the Nigerian Export Promotion Council, NEPC in Abuja.

The governor who was at the NEPC headquarters as part of his efforts to forge stronger and strategic partnerships to generate new investment opportunities told his host that the 1,000 hectare industrial park in Gombe State , which is designated as an economic and agro-processing area, is set up to facilitate rapid industrialization and value chain development.

He also said that the Wawa-Zange Grazing Reserve will help boost animal production and exports, as his administration’s vision is to capitalize on the state’s comparative advantage in agriculture and other areas. agro-allied products.

The Governor noted that with a total landmass of over 20,000 square kilometers and a growing population of around 3.5 million with a gross domestic product GDP of over $ 2.5 million, the Gombe State is undoubtedly a commercial hub in the sub-region.

He added that the state’s strategic location in the center of the Northeast also places it in a position of strong reputation as a commercial hub since the 1960s and home to many cottage industries.

He sought a partnership with the agency in its drive to attract investors to Gombe, saying that “given our geographic and strategic advantage, the northeast warehouse should be hosted in Gombe and NEPC should also open its office. NE regional in Gombe. He assured that for its part, the government of Gombe State will provide all the necessary support in this direction.

The Executive Director of the Nigerian Export Promotion Council, Mr. Olusegun Awolowo, said that the NEPC is satisfied with the contribution of Gombe State to the production of agricultural products and will do whatever is necessary to exploit the products which have State export potential such as tomatoes, sunflowers, peanuts, corn, sesame seeds among others.

He said the Council would work with Gombe State to comprehensively consider areas that may benefit the state and its people, just as it disclosed a plan to establish a joint facility center in Gombe to support the development of the value chain with a view to exporting to ensure that the products meet international standards.

The NEDC boss said that in order for the country to emerge from the current economic challenges, the accumulation must come from the states because, unlike the federal government, the second level of government has all it takes to create jobs and boost economic growth. ‘economy.

He said that when the Council launched the zero oil plan which encourages the country to survive on oil revenues, few Nigerians believed it, saying it is gradually becoming clear that sooner or later the world will have nothing to do with it. with black gold.

He explained that it is to keep this development that the council introduced the 22 strategic sectors that encourage Nigerians to increase production and productivity so that the country can build a manly economy that will support the Nigerian state as stated in a Ismaila Uba Misilli’s press release. , Managing Director, (Press Affairs) Government House, Gombe.

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Financial headlines tend to focus more on quarterly earnings and share buybacks than on capital spending and technology investments by Canadian companies. The benefits of such investments are rarely discussed, let alone celebrated, yet collectively they are essential to our long-term growth and competitiveness as a country.

For example, without the $ 100 billion spent on technology by Canadian banks since the financial crisis, Canada would have an average rather than global leading digital banking system, which is good for the shareholders and customers of banks, as well. than for the health of our financial system as a whole. Likewise, telecommunications in Canada are making huge technological investments in response to the future of work and digitization. And Canadian railways invest billions in trade-friendly infrastructure, which strengthens our competitiveness.

But the general trends in total business investment in Canada are not moving in a direction that would help restore our capacity for long-term growth. There are many reasons, but there is one often overlooked culprit: regulation.

Poorly designed regulations are a stealthy obstacle to growth. In polls, companies more frequently cite regulation than taxation as a serious competitive pressure, and with empirical evidence: Canada ranked 38th for “burden of government regulation” in the 2019 Global Competitiveness Report of the World Economic Forum. And the cost of this regulatory burden is real. According to the Canadian Federation of Independent Business, regulations at all levels of government cost Canadian businesses $ 38.8 billion in 2020, with red tape accounting for $ 10.8 billion of that total.

As the pandemic fades but its scars remain, Canada will need trade investment – in large part – to rebuild its productive capacity and growth potential for the decade to come. And with monetary and fiscal stimulus clearly at their limits, isn’t it time to ask: What should regulation look like for the post-pandemic economy?

We don’t think the answer is deregulation or lower regulatory standards. The answer is smart regulation, a frugal stimulus to unleash private sector investment.

First, smart regulation must be clear and transparent about its objectives, make things more predictable, and designed with faster decision-making, eliminating overlap and duplication and endless layers of review. The aim is to reduce uncertainty for all stakeholders and enable companies to seize opportunities in the changing landscape and to react quickly, effectively and boldly, in line with regulatory objectives.

Second, smart regulatory goals must be balanced – promoting efficiency and encouraging direct competition while allowing consumers and business customers to take advantage of lower prices, better access and more choice. It should encourage investment in innovation, as this offers more future choices to customers and encourages dynamic competition.

Third, a principle-based approach to smart regulation allows for greater flexibility than a prescriptions-based approach, which focuses on what you can’t do rather than what you should be doing. This can be particularly important in potential areas of regulation, such as data, digital commerce, and social media, where public goals evolve and technology evolves. It can also be more effective when regulatory harmonization between jurisdictions is the goal, but national regulatory systems themselves differ.

Fourth, smart regulation, in a world of “Buy American” and rising global protectionism should encourage strong and efficient Canadian businesses. Ownership of capital should be less important than behavior of capital when making investment decisions, but being domiciled in the country does matter. Vibrant Canadian headquarters directly support well-paying jobs, attract high-value suppliers and create a virtuous circle of talent attraction. For example, the Toronto-Waterloo Corridor added the second-highest number of tech jobs in North America between 2015 and 2019. In addition, Canadian companies are among the most generous donors in the not-for-profit sector, which strengthens the communities.

Regulation is one of the most powerful tools in a government’s political arsenal, but it is not always used effectively. Regulatory uncertainty, opacity and lengthy review processes only hurt Canada’s reputation as a place to invest and grow.

It’s time to make sure that regulations better support our long-term economic growth. Smart regulation is about creating the conditions for an innovative and competitive economy, while supporting social benefits and minimizing unwanted externalities. It’s about ensuring that our regulatory framework keeps pace with technological and market trends, both at home and abroad, and protects consumers and customers. This is greater harmonization with other regulatory frameworks that share the same policy objectives, both at home and abroad. And it’s about regularly reviewing regulations to ensure they’re efficient and effective, using rigorous cost-benefit analysis that is transparent to the public.

We can no longer afford to take an analog approach to regulation in a digital world. Smart regulation is one way to boost the economy in the post-pandemic world, without the need for additional deficit-financed stimulus or prolonged monetary easing.

The Honorable Kevin Lynch is a former Clerk of the Privy Council and a former Vice-President of BMO Financial Group.

Paul Deegan is the CEO of Deegan Public Strategies and was Deputy Executive Director of the National Economic Council at the Clinton White House.

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