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Prime Minister Mostafa Madbouly stated that the fifth review of the IMF loan program will start within few days, according to local press. Egypt is committed to paying USD725 million to the IMF during the current month of May, and USD962 million in June, after paying USD1.56 billion during 4M2025.The Madbouly government expects to raise USD4-5 bn from selling stakes in 11 state-owned companies during the fiscal year 2025-2026, as a part of its privatization program.The government is putting together new incentive criteria and additional benefits for automakers participating in the Automotive Industry Development Program in a bid to boost local component rates to 65% from 45%. The revised incentive framework introduces a new methodology for calculating local component requirements and value-added metrics. The framework will be presented to Prime Minister Moustafa Madbouly before being submitted to President Abdel Fattah El Sisi for final approval.The cabinet approved the official rollout of the Universal Health Ins. System in Aswan starting 1 July 2025. As part of the plan, non-emergency medical services will be suspended for uninsured individuals beginning 1 January 2026.Egyptian Prime Minister Mostafa Madbouly said that Egypt is negotiating with Saudi Arabia on joint projects with the Egyptian private sector across different sectors.Egypt and Greece signed a strategic partnership yesterday during President Abdel Fattah El Sisi's visit to the country, according to an Ittihadiya statement. The two sides also inked agreements to boost cooperation in a number of fields.The Madbouly government increased Exxon Mobil's production share from the Masry and Cairo offshore concessions to 40%, up from 15%. The government also extended the concessions' cost recovery period to seven years from five to encourage the company to increase its investments in Egypt's energy sector.Thirty Egyptian companies are considering establishing new factories in Morocco in the coming period, to boost joint investments between the two countries.The Federal Reserve held interest rates steady on Wednesday but said the risks of higher inflation and unemployment had risen, further clouding the economic outlook as the U.S. central bank grapples with the impact of Trump administration tariff policies.TMGH achieved impressive YTD sales of over EGP160.0 billion, up 127.0% y/y, driven by the launch of the second phase of SouthMed which generated sales of EGP70.0 billion in one day.AMOC released 3Q24/25 unaudited financial indicators. Net profit surged to EGP463 million (+18% YoY, +158% QoQ) in 3Q24/25. Over 9M24/25, net profit inclined 5% YoY to EGP1.1 billion. AMOC is currently trading at a FY24/25e PE of 10.7x.EGBE released key financial indicators with 1Q25 standalone bottom line recorded EGP781 million (+26% q/q, +45% y/y, and +14% higher than Al Ahly Pharos Estimates of EGP686 million). EGBE is currently trading at P/E25 of 2.6x and P/B25 of 0.6x. AGM approved the distribution of cash dividends of 0.59/share, which implies a payout ratio of 12% and DY of 3.7%.
We published this morning our earnings expectations sheet for companies under coverage in 1Q25/FY25, with the following key conclusions:In FY25, aggregated net profit is expected to increase 10% YoYStocks that are expected to witness a shift from net loss to net profit YoY in 1Q25: ORHD and EGCHStocks that are expected to witness a spike (>80%) in net profit growth YoY in 1Q25: MBSC, CNFN, FAIT, MCQE, and ARCC. (sorted from highest rise in net profit)Stocks trading at P/E 2025 less than 5x: CCAP, EGBE, CICH, ADIB, and CANA. (sorted from lowest P/E)Please refer to our sheet published this morning for detailed earnings expectations and trading multiples.Egypt's total local and foreign debt repayment obligations are projected to jump around 30% to EGP2.1 trillion in the next fiscal year, up from an estimated EGP1.6 trillion for FY24/25.The Finance Ministry intends to issue new local debt instruments worth EGP1.5 trillion in the upcoming fiscal year, up from EGP1.2 trillion in the current fiscal year, as part of the government's plan to raise spending on social welfare and narrow the budget deficit.Egypt is among six Arab countries set to face a significant impact from Trump's tariff regime, assuming the tariff measures are fully implemented, the United Nations Economic and Social Commission for Western Asia (ESCWA) said in a policy brief. A significant impact is defined as at least 5% of a country's global exports going to the US.The state is working to liberalize the country's electricity market by 2026, along with restructuring the Egyptian Electricity Transmission Company (EETC) and its separation from the Egyptian Electricity Holding Company (EEHC).Federation of Egyptian Industries delegation is in Riyadh to talk investment in the Kingdom during a three-day business forum that wraps tomorrow. The government has estimated the financial allocations needed to import LNG and diesel shipments to meet the country's fuel needs during FY25/26 at approximately USD9.5 billion, compared to more than USD6 billion spent so far this year.President El-Sisi approved a USD500 million loan agreement from the International Bank for Reconstruction and Development (IBRD) to finance the Development Policy Financing for Resilience program.Scatec's 1 GW Obelisk solar plant will be connected to the grid by 220 kV transmission lines built under a contract between the Egyptian Electricity Transmission Company (EETC) with the consortium of Kharafi National and Power Ring. The project is planned to power EGAL's aluminum complex in Nagaa Hammadi. CCAP's United Foundries Company is planning to invest up to USD10 million in a new foundry in Helwan focusing on producing castings for the gold mining and cement industries, adding some 40k tons to the company's production capacity and bringing total output to around 70k tons annually.Hilton will open two new hotels in the New Capital. The two hotels, Hilton Cairo New Capital Downtown and Hilton Garden Inn Cairo New Capital Downtown, are scheduled to open in 2028.
Elephants, the Grass and A Teacher: Recollections and Reflections on the Nigeria/Biafra War by Chinyere E. EgbeThis book is a captivating rendition of Dr. Egbe's personal and family experiences during the Nigerian Civil War (1967-1970). The book will equally go down as an audacious contribution to the historiography of the Nigerian civil war. Not to mention a crash program in military history. Here, his detailed rebuttal of Brigadier Alabi's claim that the Second Punic War between Rome and Carthage was the first time elephants were used in battle, comes to mind.Dr. Egbe presents several harrowing experiences and close calls with annihilation of his family. For example, after Dr. Egbe's siblings and their mother were tied up to be executed by Nigerian soldiers in May 1969, one of the soldiers discovered a photograph in which their dad was pictured with the battalion commander who had sent them to arrest the family. Dr. Egbe concludes that the leaders of Nigeria and Biafra learned little or no lessons from the tragedy.Dr. Chinyere Emmanuel Egbe is an economist and currently a tenured full professor of Business at Medgar Evers College (CUNY), where he has taught business statistics and finance since 1989. Dr. Egbe is also a Consortial faculty at the City University School of Professional Studies (SPS). At CUNY SPS, Dr. Egbe teaches Business Mathematics and also provides leadership in curriculum development.During his tenure at Medgar Evers College, Dr. Egbe held various positions. While he was dean, he led the school to gain national accreditation through the Accreditation Council for Schools of Business and Programs (ACBSP) in 2003 and continued to provide leadership to reaffirm the accreditation of the school's business programs in 2013. Dr. Egbe also wrote proposals that established two new degree programs. Community leaders have also recognized Dr. Egbe for his contributions to community Development and awarded him Certificates of Special Congressional Recognition in 2001 and 2018.https://www.amazon.com/Elephants-Grass-Teacher-Recollections-Reflections/dp/B0D3KLSGS2https://igweplinyegbe.org/https://mainspringbooks.com/http://www.bluefunkbroadcasting.com/root/twia/22725msb1.mp3
Government calls out media reports that it asked the IMF to increase its next disbursement as false. The government has approved offering manufacturers loans at a subsidized 15% interest rate to purchase equipment and production materials.Egypt's non-oil trade deficit declined by 4.4% YoY during the 9M24, attributed to an 11.1% growth in exports, despite an increase of 3% in imports.Cabinet approves official launch of comprehensive health insurance system in Suez next December, after successful trial operation in the governorate.ARCC (FV: EGP17.80, OW) reported solid 3Q24 attributable net income recording EGP318.2 million (+95% YoY, +64% QoQ), beating AHP estimate of EGP236.7 million. This brings 9M24 bottom line to EGP664.7 million (+33% YoY). Bottom-line growth was shaped mainly by strong revenue growth and healthy operating margins. ARCC is trading at FY25 P/E of 6.0x. MBSC's (FV: EGP53.30, OW) board of directors approved purchasing 6.1 million treasury shares, representing 10% of the company's total number of shares, at a price of EGP47.00/share to be internally financed. Saudi Arabia's Zamil Steel Construction, a subsidiary of Zamil Industrial, is planning to set up a new heavy metal structures factory in Egypt, The new facility, to be set up in Sadat City, will have three production lines that will produce 36k tons of metal structures a year when running at capacity. The final investment cost is to be decided early next year. The factory will initially meet local demand for metal structures and at a later export over half of its output.SAUD (FV: EGP25.00, OW) 3Q24 standalone bottom line recorded a strong figure of EGP889 million (+14% q/q, +51% y/y, and +17% higher than Al Ahly Pharos estimates of EGP761 million), bringing 9M24 bottom line to EGP2,225 million (+38% y/y). SAUD is currently trading at P/E25 of 3.2x and P/B25 of 0.7x.EGBE (FV: USD0.54, OW) 3Q24 standalone bottom line recorded EGP696 million (0% q/q, +79% y/y, and +22% higher than Al Ahly Pharos Estimates of EGP571 million). Bringing 9M bottom line to EGP1,930 million (+84% y/y). EGBE is currently trading at P/E25 of 2.2x.Four foreign oil companies have secured four concessions in an international bid round the Oil Ministry had launched in 2023. The four companies will invest at least USD71 million, with a commitment to drill at least 14 wells. They will explore for oil and gas in four blocks located in the Western Desert, Eastern Deserts, and the Gulf of Suez under exploration licenses with the Egyptian General Petroleum Corporation of up to seven years. The firms will be granted 20-year extendable development leases if they make a discovery.ALCN's dividends (DPS of EGP1.72 and USD0.0034) record date is on 25th of November 2024 and distribution date is on 28th of November 2024. Dutch dredging company Van Oord has completed dredging two new port basins in Ain Sokhna Port as part of an expansion project aimed at enhancing the Suez Canal Economic Zone. An EGP3 billion factory to assemble Malaysian automaker Proton's Saga model was officially opened yesterday.The Financial Regulatory Authority (FRA) has approved two guiding documents for ins. policies covering electric vehicles (EVs) for personal and commercial use.Three medical supplies manufacturers have received land plots in the Baghdadi Industrial Zone in Luxor to set up new facilities with total investments exceeding EGP200 million.Pharma-delivery platform Chefaa has inked an agreement with USAID Business Egypt to digitize the country's pharma supply chain to help boost healthcare access.
O KO NILO LATI SEGBE
*Key news articles for today*Mostafa Madbouly penciled in the third week of July as when the country will be ready to “stop cutting electricity completely throughout the summer period.” However, Madbouly clarified that the current “one hour” extension will continue as planned until the end of the week and that power cuts will resume after the summer months until the end of year. The surprise week-long extension of additional outages this week came as a result of a gas field in a “neighboring country” being offline for a 12-hour period, Madbouly saidMadbouly laid out a USD1 bn plan to import fuel to power energy plants till the end of the year, in addition to USD180 mn to import 300 tons of mazut next week.Alongside upping supply, the government wants to lessen energy demand by closing all shops and malls — with the exception of supermarkets, restaurants, and pharmacies — by 10pm. Restaurants will be allowed to run until 1am.MPs are set to vote today on a USD47 mn extension to a USD125 mn USAID grant to back rural development.The CBE took accepted bids from 32 banks for EGP1.1 tn in fixed-rate deposits at a rate of 27.75% during its first weekly fixed-rate auction after the Eid Al Adha break.The production of the Zohr gas field rose an average of 1.9 billion cubic feet per day at the present time, compared to 1.8 billion cubic feet on average during the last period.MPs approved an agreement with the Asian Infrastructure Investment Bank to provide a EUR250 million to develop the Abu Qir railway line in Alexandria and turn it into an electric metro.AMOC's BoD approved FY24/25 budget including a CAPEX worth EGP551.8 million. The budget also included revenues of EGP42.0 billion (vs. EGP28.2 billion in FY23/24 budget) and a net profit of EGP660.2 million (vs. EGP603.5 million in previous year budget).ABUK sent a release announcing that due to the heat wave and natural gas shortage. Accordingly, the company's three plants have stopped in order to prevent any damage. Also, SKPC sent a release announcing that there is a total plants shutdown and stoppage of production due to the lack of feed gas. Government sources confirmed that gas supply will be resumed gradually by the end of the current week.EFIH will distribute around 0.249 bonus share for each original share on 11 July 2024. Record date is on Wednesday 10 July 2024. This brings the company's capital to EGP1.15 billion.Banque Misr and the National Bank of Egypt are lowering their FX markup fees to 5% from 10% and raising their FX credit card limits by 50%. Also, EGBE and HDBK are reportedly raising their FX credit card limits.The FRA has given CICH's asset management arm, CI Capital Asset Management, preliminary approval to set up a fund investing in the newly launched sharia-compliant EGX33, with plans to open the doors for investors looking to subscribe to the fund by 3Q 2024.HRHO's ValU has signed a strategic partnership with Alameda Healthcare Group, to provide a range of flexible payment solutions to its customers.Red Sea Ports Authority is studying to build a new multipurpose station in Suez Port, as part of the infrastructure development plan for the logistics and ports sectors.
The CBE decided to keep the current key interest rates unchanged in its meeting held on Thursday. The CBE attributed its decision to the easing inflationary pressures, among other factors.The IMF is currently conducting the third review of Egypt's expanded USD8 billion loan program.UK-based and Africa-focused petroleum firm Vivo Energy has reportedly submitted an offer of around USD100 million for 174 gas stations currently owned by state-owned fuel retailer Wataniya.The government has reportedly instructed ministries and associated agencies to exchange any USD they have with the CBE for EGP. Any ministry or agency that needs to source foreign currency will need to approach the CBE with the equivalent amount in EGP to gain access to FX, according to the outlet.Trading of treasury bills will be made available through brokerage firms on the EGX within the next three to four months.Oil Ministry needs an additional USD300 million per month in order to import the energy needed to put an end to the power cuts.Energean raised its targeted investments in exploration and development in Egypt during 2024 to USD40-60 million from USD30-50 million in 2023. The Minister of Environment revealed that negotiations are underway with international partners to provide new financing to Egypt worth USD1 billion to confront climate changes.HELI (FV: EGP18.84, OW) selected MASR (FV: EGP5.24, OW) as the co-developer of HELI's 491 feddan land plot in New Heliopolis. The project is expected to generate total revenue of EGP194.4 billion over 12 years.HRHO 1Q24 net profit after tax and minority interest recorded EGP1,821 million (+124% q/q, +110% y/y). The stock is currently trading at 7.0x P/E24 and 0.9x P/B24.EGBE 1Q24 standalone net profit pre-appropriations recorded EGP537 million (+70% y/y, +47% q/q). We reiterate our Overweight recommendation on EGBE on an updated FV of USD0.54/share, up from USD0.32/share. EGBE is currently trading at P/E24 of 2.9x and P/B24 of 0.7x. We raised our FV for EFID to EGP46.17/share from EGP40.29/share, to factor in:Updated macro assumptions.Higher revenue growth on the back of price increases amid this inflationary environment in addition to ramp up in volumes given the company's capacity expansion plan.Margin recovery given price increases and cooling down in raw materials costs.EFID is currently trading at a FY24 P/E of 9.4x and an EV/EBITDA of 6.8x.DOMT reported 1Q24 full financials. Net profit of EGP153.3 million (+1.3% YoY, +53.2% QoQ). DOMT is currently trading at 2024f P/E of4.9x and EV/EBITDA of 3.4x.The Ministry of Transport extended the construction and execution of the second and third lines of the high-speed electric train network for another three years, to be finalized in 2030 instead of 2027. The FRA gave a nod to SCEM to proceed in its issued capital increase through a rights issue from EGP1.33 billion to EGP3.01 billion by EGP1.68 billion distributed over 168.2 million shares at a par value of EGP10/share. ICT solutions firm, Digitize for Investment and Technology, moved to EGX's main market.
IGBESE FUN YIYANJU AAWO
IGBESE FUN YIYANJU AAWO
Are you experiencing unexpected jealousy or the lack of support coming from your partner? Have you recently started working towards your goals, dreams and developing your spiritual practices and feel that your partner is feeling left behind or inferior to your growth? Have you ascended to new heights of success in your career and are how attracting others that are just like you in alignment with your vision and you can sense that your partner could be secretly wishing you fail? If this is you in anyway there's a great possibility that you are with an Egbe Soul Family Partner in a reincarnated form. This is very similar to Soul Ties or Soul Partnerships with a slight unique difference in context. Let us dive in together and see what our mysterious relationships are trying to tell us. --- Support this podcast: https://podcasters.spotify.com/pod/show/universolwisdom/support
Nana Sula Spirit… Woman of Peace is a Singer, Songwriter, Author, Entrepreneur, Artist, Producer, Birth Doula, Sacred Workshop Facilitator and Priestess. She was initiated in Ghana in 2007 as a Priestess of Mami Wata and given the title Nana Okomfo Kokoi Ama Tawiah under the Ga & Ewe systems. Nana Sula was a student at the Shrine of Impohema from 1991 – 2007 under the guidance Nana Obusomfo Ahia & Nana Santrofi. Nana Sula has studied the IFA system since 1985 and was a member of the Egbe of Orisha in Brooklyn, NY from 1992 – 1996 prior to moving to New Orleans. She was born and raised in New Jersey. In 2014, Nana authored and produced the Book & CD Project entitled Spirit of the Orisha – a Yoruba Song preservation project highlighting 38 Yoruba chants. Her solo project A Journey Within was written and recorded in Tanzania in 2016 and is available worldwide. Sula is the former Professor of Sacred Music at the Ifa University in Washington, D.C. and is founding Priestess of the Temple of Light Ile de Coin-Coin - a Temple of power for the elevation of souls located in the Musicians Village – New Orleans, Louisiana. Sula holds a Bachelor of Arts Degree with distinguished honors in African Studies and English Literature from Rutgers University in New Jersey (1994). She has traveled extensively throughout Africa and the Caribbean and has been a volunteer with Operation Crossroads Africa participating in community development projects on the Continent since 1991. Sula is a Singer/Songwriter with her bands Coin-Coin & The Maroons. She is a Mardi Gras Indian Medicine Queen with the Mandingo Warriors – the Spirit of Fi-Yi-Yi and a Master Bead Artist. She also serves as a Board Member of the Congo Square Preservation Society. Connect with Nana Sula Website: www.sulaspirit.com FB: Sula Spirit You Tube: Sula Spirit Works: Spirit of the Orisha ‘Book and Songs' Audible: Spirit of the Orisha ‘Book and Songs' References: Mermaid Dolls: wierdwonders.com Nancy Freeman ___________ WWP is produced by The Moon Garden Temple Written, hosted, and produced by Alexandra Loves Original podcast music, "Morning Love" by Quincy Davis Email: Wokewisdompodcast@gmail.com IG: @wokewisdompodcast Meet/Work with Alexandra Loves: www.themoongardentemple.com ____ The disclaimer for this podcast can be found on our website or at the end of the first episode,"Orientation and Welcome"
GBCO (FV: EGP12.86, OW) made it to our top-picks list, mainly backed by GB Capital, as it forms 71% of our final valuation, while GB Auto holds only 29%. GBCO is currently trading at a FY24 P/E of 3.2x and an EV/EBITDA of 3.2x.Economic growth slowed to 2.65% YoY in 1QFY2023-24, according to new data by the Planning Ministry. That is down from 4.4% YoY in 1Q2022-23 and 2.9% YoY in the final quarter.The General Authority for Investment and Free Zones has agreed with the CBE that foreign companies will not waive transfers in foreign currencies in banks that are intended to increase the company's capital only.The Suez Canal Authority has started to collect an increase in fees for transiting ships by rates ranging between 5% and 15% for specific types of ships, as per their decision issued last October.The Ministry of Finance expects public debt to decline by FY2023/24 end to 92.2% of GDP, and continue to decline to 91.9% of GDP next fiscal year, and 88% in FY2025-26.Kuwait's Ali Alghanim & Sons Automotive, Saudi's Mohamed Yousuf Naghi Group, and Egypt's Organi Group have launched a joint venture dubbed Auto Mobility that will invest USD100 million into localizing the production of cars from Chinese automobile giant Geely. No fewer than five Qatari vessels carrying liquefied natural gas (LNG) making their way to the Bab El Mandeb strait have been stopped in their tracks since Friday. Around 209 oil tankers or 4% of the world's oil fleet have started rerouting away from the Red Sea over the weekend.The Egyptian Stock Exchange aims to launch a new electronic disclosure system by 2025 aiming at developing the technological structure of the market by modernizing the electronic trading system.The Egyptian National Railway Authority intends to borrow EGP18 billion from a consortium of local banks to finance two railway projects, which it plans to launch during the second half of this year.The House of Representatives approved the seventh structural adjustment facility agreement between Egypt and the Arab Monetary Fund, worth USD614.3 million.A government official estimated Egypt's total imports of Israeli natural gas at about 900 million cubic feet per day in January 2024. The government plans to double the capacity of Cairo International Airport. The new terminal will accommodate an additional 30 million passengers per year.SAUD and EGBE have disabled credit card withdrawals abroad. EGBE has also cut monthly credit card limits on foreign exchange transactions executed abroad to the equivalent of EGP3k. HRHO's ValU signed a partnership agreement with the Damietta Chamber of Commerce to enhance the furniture industry in Damietta by providing an integrated package of buy now and pay later solutions. Local mobile operators are planning to launch eSIMs in 1Q24, with pre-launch trials currently underway. ETEL and Zain Omantel International (ZOI) are joining forces to build a digital corridor. This corridor will connect the Mediterranean Sea to the Arabian Sea and Arabian Gulf, creating an unprecedented data highway. Telecom Egypt will develop new infrastructure across Egypt from the Red Sea to the Mediterranean and onwards to Europe. CBE is studying linking InstaPay to four BRICS countries including India, Russia, Brazil, and South Africa.ARCC (FV: EGP13.01, OW) is to undertake a filter upgrade conversion project with a total estimated cost of EUR8 million. The winner of the tender to install the signaling and control systems for the Cairo-Alexandria freight railway bypass will be announced next July. RMDA achieved 31% YoY increase in revenues (including injectable antibiotics) in November 2023. Egypt's exports of medicines and pharmaceutical products increased by 11.7% YoY in 10M23 to reach USD276.68 million.
ADIB Egypt offers the best value amongst Egyptian Banking Stocks ADIB‘s (FV: EGP70.00, OW) potential has been unleashed after resolving the capital increase issue which has been acting as a key overhang on share price performance. We expect the market price of the stock to rally further on strong fundamentals and solid business operations:•The bank is able to achieve maintains strong margins above peer group average.•The bank has the highest provisions coverage and the lowest NPL's ratio among our coverage universe.•ADIB is delivering RoE24 north of 30% and is currently trading at 1.0x P/B24, in line with peer group average, and 3.8x P/E24, below peer group average of 4.4x, on expected bottom line growth of 28% in 2024, which is higher than sector average of 17%.The government has identified some 61 additional state-owned companies that it plans to add to the state's privatization list and exit via stakes sales to either strategic investors or through EGX offerings. Priority will be given to four main sectors: airports, telecommunications, banking, and insurance.A high-level delegation from the Egyptian government has arrived in Washington DC to push forward Egypt's almost standstill loan program with the IMF.The World Bank expects a global slowdown in 2024 with GDP growth dropping to 2.4% from 2.6% in 2023 and 3% in 2022.The World Bank has downgraded its Egypt growth outlook for the current fiscal year due to the country's ongoing economic problems. The lender expects real GDP growth to slow to 3.5% in FY23/24, down 0.2% from its last forecast in October. Growth is forecast to accelerate to 3.9% in FY24/25.The Ministry of Finance targets achieving a primary surplus of 2.5% of annual GDP during the medium term. The ministry also targets reducing debt to GDP to less than 85% by the end of June 2028.The government aims to launch new international tenders for oil, gas, and gold exploration this year, with a new gold tender slated for the second half of the year.Egypt's average daily natural gas production hit 5.8 billion cubic feet per day in 2023. That's 6.8% less than the 6.2 billion cubic feet produced per day in FY22/23. Prime Minister Moustafa Madbouly ordered the establishment of a ministerial task force to set a plan for increasing the number of skilled workers abroad.The government is currently looking into reforming laws governing tourism. These include issuing a new law regarding the establishment of a tourism chambers and an adjacent union, a draft law dealing with foreign tourists, and preparing the general framework for a draft law regulating tourism companies.President El-Sisi has instructed the government to increase spending on improving Egyptians' quality of life in the upcoming fiscal year 2024/2025, Minister of Finance said.The government is considering exiting its stake in the Arab International Bank and is in the process of appointing financial advisors to do so. The government is looking into exiting a second unnamed bank at the same time, with local press sources saying that the banking sector is expected to see several deal transactions in 2024.EGBE's net profit has increased by 75% over 2023, recording EGP1.5 bn versus EGP845.8 mn in 2022. EGBE is currently trading at P/E24 of 5.3x and P/B24 of 0.9xHalan, the consumer finance arm of MNT-Halan, has closed an EGP971.5 mn securitized bond issuance, the third and final of an EGP3 bn securitization program, according to a release published by the company.Local private equity firm Ezdehar Management has purchased above 80% stake in clothing company SETA Textiles, the company which owns clothing brands Dalydress and Premoda, according to local media. The value of the transaction is not disclosed.
The Fed will conclude its two-day meeting today, expected to leave interest rates where they are in December in response to signs that inflation continues to slow.The government is considering granting a golden license to investors in the healthcare sector, in an attempt to facilitate the work of private companies.Minister of Supply revealed Egypt's reserve stock of some strategic commodities, including oils, which cover 6 months, and sugar that covers 7.8 months.Oil prices plummeted as much as 4% yesterday on the back of the CPI data and continued concerns about oversupply. Brent futures closed 3.7% lower at USD73.24/bbl, the lowest level in six months. The Egyptian Soda Ash Company is in talks with a syndicate of local and international banks for USD450 million, which would fund the construction of the planned complex in New Alamein. The complex is estimated to cost a total of USD685 million to build and have an annual capacity of 600k tons. Construction is expected to get underway sometime in 2024 and take three years to complete.MOIL released 9M23 unaudited financial indicators posting a 73% YoY growth in consolidated revenues to USD132 million. Net profit recorded USD29 million, compared to a net loss of the same amount in 9M22.GBCO's auto arm, GB Auto, is on its way to assemble Hyundai Elentra AD locally. The assembly is expected to take place by 1Q24.EBRD is reportedly considering a USD150 mn loan to the CIB for on-lending to SMEs and environment-friendly projects. The National Bank of Egypt was also in talks with the lender for a USD50 mn loan to finance SMEs' agricultural projects.The “Vortex 4” fund - affiliated with Vortex Energy, owned by EFG Holding Group - has opened the subscription door to raise USD300 million in the second closing of the fund. It is expected that the closing will be completed before the end of 2023, and the size of the fund will exceed USD500 million.RAYA acquired EGBE's stake (27.69%) in Ostool, bringing its stake in Ostool to 90%, up from 62%.ARCC's (FV: EGP13.01, OW) general assembly approved a cash dividend distribution of EGP0.262/share for FY22, bringing total cash dividend distributions for the year to EGP0.922/share. This implies a payout ratio of 97% and a dividend yield of 9.8%.China's Hainan Airlines is planning to return to Egypt after over a decade of absence with three weekly Cairo-Shenzhen flights starting 21 January 2024.
The overall budget deficit rose during the first two months of FY2023/24 to 3.2% of GDP, compared to 1.4% for the same period of the last fiscal year, under pressure from increased expenditures, especially interest on government debt.Afreximbank has agreed to extend USD3 billion of credit facilities to Egyptian companies.Emirati state-owned port operator DP World will break ground on its USD80 million logistics zone at Ain Sokhna Port this month. CBE raised USD1.61 billion in a t-bill auction yesterday to refinance existing debt. ETEL (FV: EGP45.00, OW) bottom line recorded EGP2.45 billion in 3Q23 (+2.7% YoY, -14.9% QoQ). 9M23 bottom line came in at EGP9.15 billion (+48.3% YoY). We updated our FV for ETEL to EGP45.00/share. Telecom Egypt is currently trading at 2024e P/E of 4.1x and EV/Adjusted EBITDA of 2.6x. EAST released 1Q23/24 initial financial indicators. Net profit recorded EGP1,124 million (-20% YoY, -52.5% QoQ). EAST is currently trading at a FY23/24 P/E of 5.7x and an EV/EBITDA of 4.7x.Philip Morris has hiked the price of smokes by up to 20% in the wake of the cigarette tax hike signed into law last week.Sugar prices witnessed a sharp increase in selling prices up to EGP42-48/kg, which industry experts attributed to misbehavior from market factors like merchants and end consumers.EXPA (FV: EGP20.00, OW) 3Q23 consolidated bottom line recorded a strong EGP1,034 million (+49% q/q, +178% y/y), bringing 9M23 bottom line to EGP2,291 million (+131% y/y). EXPA is currently trading at 0.8x P/B24 and 4.7x P/E24.EGBE (FV: USD0.55, OW) 3Q23 standalone net profit recorded EGP389 million (+81% y/y, +14% q/q). 9M23 Net income recorded EGP1,047 million (+68% y/y). EGBE is currently trading at P/E24 of 4.9x and P/B24 of 0.9x.SAUD (FV: EGP15.00, OW) 3Q23 net profit recorded EGP587 million (+24% y/y, +2% q/q). 9M23 net profit recorded EGP1.6 billion (+28% y/y). The stock is currently trading at P/B24 of 0.8x and P/E24 of 3.6x.Fitch Ratings has downgraded the credit ratings of National Bank of Egypt, COMI, and Banque du Caire to B- from B.Banque Du Caire's digital payments subsidiary Taly plans to launch two e-payment platforms next month, one targeting individuals and another targeting businesses.QNBA has submitted an application for a digital banking license to the CBE. MPs yesterday gave final approval to amendments to the 2020 SMEs law that grants financing handed out by the SMEs Development Agency the same exemptions and benefits afforded under the Banking Act.HELI (FV: EGP18.84, OW) reported 3Q23 net loss of EGP16.5 million, compared to 3Q22 net profit of EGP11.7 million and 2Q23 net profit of EGP5.2 million, bringing 9M23 net profit down 98.8% y/y to EGP8.1 million.ESRS raised rebar prices by EGP3,865/ton to EGP36,000 as of 13 November 2023, 12.0% higher than the EGP32,135/ton announced on 20 March 2023. EGAL extended the deadline for submitting technical and financial offers for the rehabilitation of the company's facilities till 15 January 2024.MICH released 1Q23/24 financial results posting a 32% YoY increase in net profit to EGP137 million. MICH is currently trading at an annualized FY23/24 PE of 5.0x.Israeli gas exports to Egypt increased to 350-400 million cubic feet per day, up from 250 million earlier this month as Chevron restarts production at the Tamar field.The government wants to increase its imports of Kuwaiti crude oil by 33% to 3 million barrels per month starting the new year.Subsidized natural gas installation fees increased currently to reach EGP3,360 per household, from EGP2,160 previously, according to local press.
The government wants to secure as much as USD3 bn in fresh debt financing by the end of the fiscal year, this is set to include:USD 1.5 bn from a range of financial institutions;USD 500 mn from Deutsche Bank and the Arab Banking Corporation;The equivalent of USD 500 mn from the recently-closed panda bond;Another USD 500 mn from an upcoming samurai bond.Egypt's 5-year CDS rate rose to 18.82% on Wednesday, two days before S&P credit rating review for the country, increasing 1.8% compared to 11 October levels.Chinese cable manufacturer Hengtong will invest USD18 mn to expand its factory in the TEDA zone under an agreement signed yesterday at the Belt and Road Forum, the Suez Canal Economic Zone.Intro Group subsidiary Intro Sustainable Resources will work with Siemens to build 300 MW of combined heat and power (CHP) plants in Egypt and the region by 2030.The government is considering issuing green bonds worth USD700 million through one of the Ministry of Electricity's affiliated entities, for launching a green project for the benefit of the private sector or in partnership with it.Egypt will study at a later stage the issuance of sustainability bonds and social bonds, so that it diversifies its debt market instruments to attract foreign investors.EGBE (FV: USD0.55, OW) released 3Q23 standalone financial indicators implying net profit after taxes of EGP388 mn (+81% y/y,+13.8% q/q), partially driven by the growth in the top-line, along with a probable growth in non-interest income and decline in provisioning. EGBE is currently trading at annualized P/E23 of 3.7x, P/B23 of 0.7x.A consortium of seven banks are arranging a syndicated loan for TAQA worth EGP3 billion, to finance the purchase of Wataniya fuel stations. Cheiron Petroleum, Egypt's largest independent energy company, will invest some USD160 million in natural gas exploration and production in the West El Burullus concession.The Arab Organization for Industrialization signed an MoU with Gama Construction to study the implementation of a Petrochemicals complex in Egypt.AXPH (FV: EGP169.46, EW) declared a cash dividend of EGP13.00/share (DY 9.3%, DPO 52%) for FY22/23. Distribution date is November 15, 2023. Record date is November 12, 2023. DSCW's shareholders have until 15 November to respond to The Toma family's bid to acquire an additional 46.9% starting today. The offered price is EGP0.65 per share. DSCW is currently trading at a FY24 PE of 2.9x and an EV/EBITDA of 3.2x.
Egypt has signed a USD 500 mn agreement to purchase wheat from Emirati agribusiness Al Dahra, over 5 years. The pact will see Egypt import USD 100 mn of milling wheat a year, with the Abu Dhabi Exports Office (ADEX) providing low-cost financing. Misr Life Insurance Company has launched the first USD Dollar denominated pension policy for Egyptians abroad, with installments between USD50-10,000.The Egyptian Railways Authority is looking forward to collecting up to USD40 million per year from selling train tickets in dollars to foreign and Arab visitors.ORHD (FV: EGP20.38, OW) achieved stellar 2Q23 sales of EGP4.7 billion, up 78.1% y/y and 72.0% q/q, bringing 1H23 sales up 59.9% y/y to EGP7.5 billion. Net profit in 2Q23 increased 59.1% y/y and 99.7% q/q to EGP582.0 million, bringing 1H23 net profit up 11.1% y/y to EGP873.5 million. Regarding OCDI's (FV: EGP23.30, OW) acquisition of the 180 feddan land plot directly south of its North Coast project, Caesar, in May 2023, the company disclosed that the cost of the land plot is EGP534.0 million, or EGP706/sqm.EFID (FV: EGP22.80, OW) released 2Q23 net profit after minority interest of EGP406 mn (+125.7% YoY, +1.9% QoQ). 1H23 net profit recorded EGP805 mn (+135.1% YoY). EFID is trading at a FY23 P/E of 8.6x and an EV/EBITDA of 5.8x.Prime Minister Moustafa Madbouly said yesterday that the government is working to speed up raw materials shipment to EAST to ease the shortage of cigarettes.GBCO (FV: EGP10.55, OW) released 2Q23 consolidated attributable net profit of EGP501 mn (+2.4% YoY, +365.2% QoQ). The auto side recorded a bottom-line of EGP249 mn due to the absence of the huge FX losses. GB Capital's net profit recorded EGP253 mn. We upgrade our FV for GBCO to EGP10.55/share. GBCO is trading at a FY23 P/E of 5.0x and an EV/EBITDA of 4.8x.MTIE (FV: EGP6.70, EW) reported 2Q23 attributable profit came in at EGP142 million (+53% YoY, -8% QoQ). This brings 1H2023 net attributable profit to EGP295 million (+105.4% YoY). Revenue growth (+39.5% YoY), Flat margins and FX gains shaped the results. We upgraded our FV of MTIE to EGP6.70. MTIE is trading at 2023f P/E of 11.6x and EV/EBITDA of 8.0x.RACC reported 1H23 net attributable profit came in at EGP85.4 million (460.9% YoY), including FX gains of EGP39.8 million. RACC is currently trading at an annualized P/E of 3.6x.MCQE reported 2Q23 consolidated financial results recording an attributable net loss of EGP22 million, bringing 1H23 bottom-line to EGP44 million (-18% YoY). Quarter losses is attributed to tight operating margins in addition to the inflated financing expenses to meet the Group's needs of raw materials, energy. MCQE is trading at FY23 P/E of 18.2x and EV/EBITDA of 7.2x.ARCC (FV: EGP9.94, OW) reported 2Q23 consolidated financial results with attributable net income recording EGP95 million (+57% YoY, -61% QoQ), bringing 1H23 bottom-line to EGP337 million (+182% YoY). Healthy revenue growth, that was mainly price driven, and lower forex losses drove bottom-line annually, despite tighter margins and higher interest expenses. Sequentially, Ramadan and Eid seasonality coupled with lower exports and almost stable selling prices drove margins and bottom-line down. ARCC is trading at FY23 P/E of 4.8x and EV/EBITDA of 1.8x.EXPA (FV: EGP20.0, OW) 2Q23 consolidated bottom line recorded EGP694 million, pre-minority interest and appropriations, (+23% q/q, +117% y/y). 1H23 bottom line reached EGP1,258 million (+102% y/y). EXPA is trading at P/E23 of 3.9x and P/B23 of 0.6x.EGBE (FV: USD0.50, OW) 2Q23 standalone net profit pre-appropriations recorded EGP341 million (+61% y/y, +8% q/q), Net income recorded EGP658 million (+61% y/y). EGBE is currently trading at P/E23 of 4.8x and P/B23 of 0.6x, on ROAE of 13.6%.SAUD (FV: EGP15.00, OW) 2Q23 net profit recorded EGP576 million (+39% y/y,+22% q/q). SAUD 1H23 net profit recorded EGP1.0 bil
KI A MASE FÓWO KAN OJU, IMUN ATI ENU WA; A GBODO NI IDANILOJU PE OLORUN YOO GBO IGBE WA TI A BA KE PEE
KI A MASE FÓWO KAN OJU, IMUN ATI ENU WA; A GBODO NI IDANILOJU PE OLORUN YOO GBO IGBE WA TI A BA KE PEE
Ministry of International Cooperation launched the joint national strategy between Egypt and the World Bank Group for the period 2023-2027.Emirati investors are interested to acquire stakes in Banque du Caire and Arab African International Bank.The Finance Ministry has proposed allocating EGP 586.7 bn to public investments for FY23/24, up 56% YoY.Within the FY22/23 fiscal budget, allocations to education will rise 19% to EGP 305.2 bn in FY 2023-2024 while health spending will increase 14% to EGP 111.2 bn.Subsidies directed to diesel currently amount to EGP64 billion annually, compared to EGP80 billion before the latest price hike.Egyptian investments in Sudan are around USD2.7 billion. Egypt's exports to Sudan recorded about USD760 million.ESRS (FV: EGP54.60, OW) denied submitting an offer to acquire an additional stake in IRAX (FV: EGP1,357.50, OW), in response to the circulating news that ESRS is in negotiations to acquire 14% of IRAX from two state institutions. TMGH achieved 1Q23 sales of EGP21.0 billion, up 291.1% y/y and 72.1% q/q. EGTS's court date for the 20.0 million sqm land plot lawsuit is postponed to 24 June 2023.EGBE released 1Q23 standalone net profit after taxes of EGP316 mn (+60% y/y,-29% q/q). EGBE is currently trading at a P/E23 of 5.7x, and P/B23 of 0.7x, with an ROAE of 14%. HDBK has launched three-year high-yield CDs, with an annual interest rate of 20% or a monthly interest rate of 18.5%.EFIC issued standalone 1Q23 net profit came in at EGP87 million, down 55% QoQ and 11% YoY, impacted by revenue performance. Lintel is in negotiations with telecom operators to increase contracts' prices for the construction of mobile towers, after a surge in the cost per tower to EGP6 million, up from an average of EGP2 million per tower. Ministry of Supply purchased 510 thousand tons of beet sugar from the manufacturing companies, of which 120 thousand tons are from Delta Sugar (SUGR) with the agreed upon prices not declared. Weekly Commodities Update:Brent, USD/bbl 75.3 -5.3%Diesel-HSFO Spread, USD/ton 276.4 8.5%Egypt Urea, USD/ton 366.5 1.1%Polyethylene, USD/ton 1,100.0 0.9%Polypropylene, USD/ton 1,012.5 0.5%Steel/Iron Ore Spreads, USD/ton 424.2 -4.0%Aluminum Cash Price, USD/ton 2,316.8 -2.2%Egyptian Retail Cement, EGP/ton 1,880.0 -0.7%Steam Coal, USD/ton 169.7 -10.6%SMP, USD/MT 2,787.0 0.4%
Jennifer Reid Egbe | Partner Jennifer is no stranger to breaking down barriers. She was one of the first attorneys in her tamil and the first African American female at Hue to make partner. While her persistence anc unrelenting stamina has served her well in her career, it has served her clients even better Since Joining the firm in 2007, enniter has earned the respect, loyalty and trust ot those she stands up for every day. And, she has earned a trial record that strikes fear into anvone wh stands against them. Initially specializing in the areas of automotive product liability, persona Injurv. medical malpractice, emplovment litigation detense and general insurance defense Jennifer has served on trial teams that have multiple defense verdicts and summary judement phase dismissals. Jennifer's practice has since expanded to include environmental litigation, consumer litigation, civil right: litigation, municipal litigation, heavy equipment product liabilit. business litigation and medical device litigation defense Throughout her career, Jennifer has represented auto manufacturers across the country, hospitals throughout the state anc has defended disputes involving allegations of First Amendment violations, excessive force, discrimination. flooding anc water channeling, asbestos, business dissolution and all varieties of wrongtul death claims. Her litigation practice runs the spectrum from case Initiation through trial, and she is most in her element when strategizing, problem-solving anc persuading under pressure. To date. Jenniter has been entrusted to defend clients in numerous jur trials. She represents a wide arrav of entities. from global Fortune 500 corporations to municipalities to local start-up businesses and tackles each client's cases with the same intensitv. fortitude and efficacy. A North Carolina native. Jennifer earned her BA from The University of North Carolina at Chapel Hill and her JD fron Cumberland School of Law at Samford Universitv PRACTICE AREAS Appelate Commercial / Contract Law Fraud Bad Faith Medical Malpractice Procucutidontv Automotive Litigation Discovery Practice & Procedure Insurance Coverage & Defense Municipal Governmental Litigation Class Action / Complex Litigatior Employment Litigatior Medical Device Litigatior Premises Liability BAR & COURT ADMISSIONS Alabama State Bar United States District Court of Alabama. Northern. Middle and Southern Districts Eleventh Circuit Court of Appeals MEMBERSHIPS Alabama Defense Lawvers Association American BarASsocIaTion Birmingham Bar Association Defense Research Institute International Association of Defense Counse Magic City Bar Association DISTINCTIONS / CONTRIBUTIONS Panelist, ALrA Int. Annual Business Meeting: Diversity for Business & Roundtable Discussion October ZUZ1) Speaker. ALFA Int. Labor and Emplovment Regional Seminar: "Diversitv Tracking" September 2021) Faculty Member and Speaker, ADLA 2021 Bibb Allen Memorial Trial Academy at Cumberland School of Law (August 2021) Panelist, Alabama Lawyers Association 2021 Annual Meeting: "Women in Big Law: Breaking the Glass Ceiling" (May 2021)
The Non-Deliverable Forward Contracts on the EGP hit 44/USD, Bloomberg reported. Prime Minister met with SFE head and chairwoman to follow up on its efforts to attract investments. The Export Development Fund has sent the proposal for the new program to the export councils for review and comments before final approval. The initiative to facilitate the import of cars by Egyptians abroad attracted USD500 million since its launch until now. Gas output from Eni's Zohr gas field dropped 11% y-o-y to 2.5 bn cfd in 2022, taking a toll on Egypt's total gas production, which dipped to a 28-month low of 6.1 bn cfd in February, down 7% y-o-y. There are two scenarios for telecom services price increases: 1) NTRA implements a 50% price increase on all services, followed by an annual 10-20% per annum rise (tied to inflation), and 2) A different price increase for each service, depending on each company's revenues, costs, and subscriber structure. NUCA approved a new mechanism for calculating the interest rate on land payments based on calculating the average interest rate on the EGP announced by the CBE during the last three months instead of calculating it on a daily basis.According to JLL, hotel occupancy rate in Cairo reached 74% in the first two months of 2023, up from 62% in the same period last year. EgyptAir is operating three weekly flights from Cairo to New Jersey starting 3 June 2023.FWRY approved increasing the company's issued capital to EGP1.70 billion (distributed over 3.406 billion shares), equivalent to 3% increase of the company's issued shares and allocated to the ESOP. TALM released 1H22/23 attributable net profit of EGP192 mn, a 38% rise YoY, driven by a rise of 28% YoY in revenues (the number of students). CIRA's BoD has approved plans to apply for a new loan to meet debt repayments to the European Bank for Reconstruction and Development (EBRD).The Kuwait Investment Authority said in a tweet that it is not interested in investing in an Egyptian bank that is offered for sale (The United Bank).The Consumer Finance Companies Union is currently working on linking all member companies operating in the sector electronically, with the aim of detecting fraud immediately, in cooperation with “i-Score.”FAIT released standalone positive financial results in 1Q23, where the bottom line recorded EGP2.15 billion (+80.6% y/y). The significant growth is mainly attributable to non-interest income growth (investment income and FX gains).CANA is offering a 3-year fixed CD at a rate of up to 19%, while EGBE has launched a 3-year CD, a fixed certificate at 19%, and a declining-rate certificate that starts at 23%. Interest is paid monthly on both CDs and the minimum deposit is EGP 1,000.ETRS BoD is moving forward with NOSCO's acquisition as follows: 1) Archer's Financial Advisory valuation for ETRS and NOSCO with fair values of EGP2.594 and EGP58.033, respectively, with 1 share of ETRS for every 0.0447 share of NOSCO. 2) Capital increase by EGP68.9 million distributed on 68.9 million shares, bringing total capital to EGP224.9 million.MICH 9M22/23 net profit amounted to EGP435.66 million compared to EGP148.4 million in 9M21/22. MICH is trading at a 22/23 annualized P/E of 7.9x. Weekly Commodities UpdateAluminum Cash Price, USD/ton 2,366.8 4.8%Egypt Urea, USD/ton 340.0 2.3%Copper Cash Price, USD/ton 8,963.0 1.3%Polypropylene, USD/ton 997.5 0.5%Egyptian Retail Cement, EGP/ton 1,890.0 -0.1%Polyethylene, USD/ton 1,090.0 -0.9
1Q23 Earnings Expectations| Currency rate and availability play a key role in shaping profits. 1) Excluding FX losses for 1Q23, aggregated profits will rise c.20% YoY, 2) Including FX losses, aggregated profits will decline 18% YoY, 3) For FY2023, aggregated profits will rise 5% YoY, due to FX losses for some large-cap companies Stocks that will witness a spike (>30%) in profit growth YoY in FY2023: CSAG, MCQE, ALCN, AMOC, FWRY, CNFN, ARCC, ETRS, MTIE, SWDY, ORWE, ABUK, SKPC, CLHO, EFIH, CANA, OLFI, JUFOStocks with P/E 2023 that is less than 5x: EMFD, CANA, ADIB, SAUD, QNBA, HDBK, ADCI, ETEL, CIEB, PHDC, ABUK, EXPA, EGBE, SWDY, ATLC, FAIT, EGAL, CPCI, AMOC, AXPH, MCQE, ARCC, ORHDBloomberg reported that the fixed-income carry trade in emerging markets is expected to pick up steam on the back of the US economy's slowdown and expectations that global interest rates will cool off.Egypt's Urban Inflation reading for March 2023 should be released this morning, with consensus expectations pointing at c.34% YoY, up from 31.9% in February 2023. HELI (FV: EGP12.44, OW) plans to offer its Ghernata area in Heliopolis to investors.EAST's BoD decided to increase the selling prices of their products Pall Mall and Viceroy to reach EGP35/pack (less than 1% of the company's sales).HRHO's BoD approved raising capital from EGP5.8 bn to EGP7.3 bn, through a 1:4 stock dividends.Finance Ministry will continue to offer loans at a subsidized rate of 11% to industry and agriculture players despite the recent 2% rise in interest rates. Savers have so far poured some EGP 178 bn into the NBE and BM's new high-yield certificates of deposit.SCZone announced laying the cornerstone for the Indian Flex-Egypt polyethylene USD110 million factory in Sokhna at a planned production capacity of 30,000 tons per month. FRA approved SPMD's rights issue to increase capital by EGP110.9 million to EGP332.7 million. Rights issue subscription will be available starting 2nd of May 2023 till 1st of June 2023. PRDC AGM approved the purchase of treasury shares.Sinai Cement general assembly agreed to increase the loan amount received from Vicat-Egypt, a related party, for one additional year with a maximum amount of EGP2 billion at an 8.5% annual interest rate.Weekly Commodities Update:Diesel-HSFO Spread, USD/ton 335.3 -14.6%Egypt Urea, USD/ton 332.5 -11.9%WMP, USD/MT 3,053.0 -5.0%LME Aluminum Cash Price, USD/ton 2,292.3 -3.6%SMP, USD/MT 2,579.0 -3.0%Iron Ore 65%, USD/ton 151.0 -2.7%Wheat, USD/bu 675.5 -2.4%LME Copper Cash Price, USD/ton 8,806.8 -2.2%Turkish Rebar, USD/ton 690.0 -2.1%Steel/Iron Ore Spreads, USD/ton 463.5 -2.0%Polyethylene, USD/ton 1,130.0 -1.7%Egyptian Retail Cement, EGP/ton 1,892.5 -1.5%Polypropylene, USD/ton 992.5 -1.0%Scrap, USD/ton 439.5 0.0%Caustic Soda, USD/ton 415.0 1.2%Crude Palm Oil, USD/MT 910.5 2.4%Brent, USD/bbl 85.1 6.7%Steam Coal FOB Newcastle Australia, USD/ton 193.8 9.3%
Sean brings on special guest & owner of HillStands4, Lionel Egbe, to discuss being inspired while inspiring others. How do you find your inspiration, what qualities to look for, which ways do you hope to inspire others, & more. Plus the former college football teammates discuss the importance of not only staying physically but mentally fit as Lionel shares the latest from his new company, @HillStands4. Find out what HillStands4, how you can support & get more great tips from @lionelrawwTap in for the latest Red Dot Radio content - reddotradio.buzzsprout.comNew here? If so, send your questions and comments to us by visiting redotradioinc@gmail.com or on Instagram @reddotradioinc
In deze aflevering gaan we het hebben over Self-Monitoring: In hoeverre ben jij je bewust van jezelf tijdens sociale situaties en in hoeverre pas jij je aan (of niet) aan de mensen om je heen? Oftewel: In hoeverre ben je de situatie, jezelf of anderen aan het aan het analyseren en beoordelen?Voor meer persoonlijkheidsfeitjes volg ons op Instagram of TikTok!Lees, kijk en luistertips
Tsemaye Bob-Egbe recently completed her run as Katherine Howard in the West End production of Six The Musical (Vaudeville Theatre). Tsemaye ventured into theatre after completing a medical degree. Her theatre credits include Les Enfants Terribles' The Vaudevillians (Edinburgh Fringe Festival), Beautiful: The Carole King Musical (Aldwych Theatre), Leading Player in Pippin (Garden Theatre), Tammy Faye (Workshop) and Fairy in Tweedy's Reduced Pantomime (Everyman Cheltenham). Tsemaye joined the original cast of Tina The Musical as first cover Alline and an understudy for Tina Turner. She later returned to the show as the alternate Tina, performing the role at least three shows a week.In 2021, Tsemaye joined the West End cast of Six as Katherine Howard. During her reign, Tsemaye received rave reviews and performed at the Jubilee. Tsemaye recently made her screen debut in the feature film Pretty Red Dress. In this episode, Tsemaye discusses her journey to theatre via medical school, how she conquered the role of Tina, all things Six and lots more!Follow Tsemaye on Instagram: @thisistsemayeHosted by Andrew Tomlins. @AndrewTomlins32 Thanks for listening! Email: andrew@westendframe.co.uk Visit westendframe.co.uk for more info about our podcasts.
Guest: Dr Catherine O. Egbe Dr Catherine O' Egbe is a Specialist in Tobacco Control at The South African Medical Research Council. She considers the motivation for provisions of the The Tobacco Products and Electronic Delivery Systems Control Bill currently in Parliament that were brought to John's attention by a concerned lobbyist.See omnystudio.com/listener for privacy information.
Foreign reserves inched up to USD34.2 billion in January from USD34 billion the previous monthActivity in Egypt's non-oil private sector contracted for the 26th consecutive month in January. The PMI reading fell to 45.5 in January from 47.2 a month before.Policymakers consider amending capital gains tax rules in response to the current exchange-rate volatility. Capital gains tax on gains from stock trades made by resident investors in fiscal year 2022 would not be due until after the new tax legislation is passed.The Senate Industrial Committee approved a new government-drafted bill that would grant the Industrial Development Authority (IDA) the power for three years to allow unlicensed industrial projects to operate for a temporary one-year period.Fees for using natural gas national grid declined to 37.6 cents per mmbtu in 2023, down from 41.07 cents per mmbtu during 2022.Helwan fertilizers Co sells 10% of its total shares with total value of EGP1.314 billion. It is noteworthy that Abu Qir Fertilizers owns 17% in Helwan Fertilizers but the deal doesn't have any impact on its shares in the company. Foreign investment funds are interested in acquiring stake in El Nasr Fertilizers Company- SEMADCO. The government is looking to sell its shares to strategic investors. It is noteworthy that Chemical Industries Holding Company- CIHC is the main owner of Semadco's shares and currently, a valuation is being carried to determine the fair value for the company. EGBE achieved net profits of EGP 856 million in 2022, compared to EGP 696 million in 2021, an increase of 22.9%, supported by an increase in revenues to EGP 8.23 billion from EGP 7.61 billion in the comparable period.According to local media, Arab African International Bank is looking to sell its entire 12.7% stake in PHDC (FV: EGP3.91, OW) to Emirati investment company, Al Ain Holding.EGTS's (FV: EGP1.68, EW) court date for the 20.0 million sqm third phase Sahl Hasheesh land plot lawsuit is postponed to 11 March 2023.ISPH signed a distribution agreement with “Boehringer Ingelheim”, one of the world's leading pharmaceutical companies, to distribute Boehringer Ingelheim treatments. Boehringer Ingelheim's key biopharmaceutical disease areas include type 2 diabetes, hypertension, and respiratory diseases and stroke.US-based, Egypt-focused asset manager, Concord International Investments plans to establish a USD40 mn company to invest in Egypt's healthcare sector.ELEC launched a new plant for meters production with a capacity of 1.5 million meter per year and investments of EGP60 million in Abu Rawash, Giza. The company plans to export part of the plant's production especially to African countries, where the local component of meters reaches around 70%, the CEO pointed.The Transport Ministry has denied that it's in talks to sell development and management rights at Suez Port to Abu Dhabi Ports.The Ministry also denied that it is in advanced talks with ADQ to take over the management of the port under a usufruct contract.Weekly Commodities Update: | Chems & Petchems | | Last Price | WoW Change, % | Brent, USD/bbl | 79.9 | -7.8% | Diesel-HSFO Spread, USD/ton | 462.6 | -19.6% | Egypt Urea, USD/ton | 410.0 | -7.9% | Polyethylene, USD/ton | 1,120.0 | 0.9% | Polypropylene, USD/ton | 1,025.0 | 0.0% | Steel/Iron Ore Spreads, USD/ton | 472.4 | 1.0% | LME Aluminum Cash Price, USD/ton | 2,534.5 | -2.2% | Egyptian Retail Cement, EGP/ton | 1,920.0 | 0.0% | Steam Coal FOB Newcastle Australia, USD/ton | 236.0 | -34.1% | SMP, USD/MT | 2,842.0 | 0.1%
#35 - Join us for an amazing conversation on the magic & medicine of flowers and our relationship with Nature with Renee K. Smith (Ifagbaye Esubola Ayelaagbe Egbesina), flower essence practitioner and founder of Akika Flower Essences & Apothecary. In this episode, Renee shares how flowers can help to open layers of awareness in the process of healing and transformation, and how they help us in creating new pathways for how we want to walk in the world. She also offers wisdom on the magic that occurs when we are in community with the natural world, and how connecting with the Earth creates healing and promotes balance in our everyday lives. Renee K. Smith (Ifagbaye Esubola Ayelaagbe Egbesina) is a certified flower essence practitioner and proud founder of Akika Flower Essences & Apothecary. Akika Flower Essences was created to explore the ancestral practice of tuning into plant intelligence as a tool for transformation, healing, and empowerment on one's soul journey. Renee received her flower essence certification from Oceans & Rivers Acupuncture and Wellness and The Flower Essence Society (FES). As a strategist, Renee believes that everyone can manifest their dreams by creating a strategy that encompasses the right people at the right time. Her goal is to assist others to find joy through connecting with plant intelligence in as many forms possible beginning with flower essences. As an Iyanifa and Olorisa, initiated to Ifa and Egbe in Nigeria, Renee also uses the knowledge she gains from her spiritual practice to assist her clients in finding and maintaining balance in their lives. She continues to expand her repertoire of community tools for healing through consistent study of our plant allies, learning and practicing the art of alchemy as taught by Master Teacher Diana Pharr and becoming a Level II Reiki Practitioner certified by Taino Reiki Healing. Renee is a Brooklyn native, mother, artist, healer, alchemist, strategist, cultural arts curator, flower essence practitioner, SRJ advocate and community member.You can find Renee at https://www.akikafloweressences.com/ and on IG @akikafloweressencesFor more info please visit Sara's website at https://www.multidimensionalnature.com/ and on IG @multidimensional.natureLearn how to communicate with plant consciousness in the free workshop on How to Learn Plant Language: https://www.learnplantlanguage.com
In this episode of the podcast, we chat to naturopath Lesley O'Connor all about endocrine disrupting chemicals and how they effect our hormones and fertility outcomes. Lesley talks at length about the most common endocrine disrupting chemicals, which products these chemicals are commonly found in and how to reduce your exposure. In this episode, Jacinta & Lesley cover: 4:00 - What are endocrine disrupters? 5:08 - Where do we find endocrine disrupting chemicals? 7:02 - Top tips for choosing low-tox products. 9:00 - How do these chemicals impact fertility? 10:54 - Are BPA free plastics better for us? 12:52 - The accumulative effect of endocrine disruptors. 16:20 - Hidden microplastics in the environment. 19:40 - How does our DNA effect the way that we detox endocrine disrupting chemicals? 25:48 - Steps to reduce exposure. These are Lesley's top 3 every day product swaps to reduce exposure: Water bottle & plastic food containers: Swap from plastic to glass. Sunscreen & lotion: Swap to natural, phalate, dioxin, EGBE & DEGME free products. Washing detergents & fabric softener: Ditch the fabric softener and swap to a sensitive, fragrance-free washing liquid. You can learn more about Lesley below: Website: https://lesleyoconnornaturopath.com.au/ Instagram: @lesleyoconnornaturopath References from this episode: Environmental Working Group: https://www.ewg.org/ Clean Fifteen and Dirty Dozen: https://www.ewg.org/foodnews/ Music by Wavecont, https://www.wavecont.com/free-download/Licensed under creative commons Attribution-ShareAlike 4.0 International https://creativecommons.org/licenses/by-sa/4.0/Music promoted by https://www.chosic.com/free-music/all/
ONJE TI O DARA KO NILO LATI GBOWO LORI; SO IRU EGBE TI O NKO TI O KO BA FEE SUBU EMI
ONJE TI O DARA KO NILO LATI GBOWO LORI; SO IRU EGBE TI O NKO TI O KO BA FEE SUBU EMI
FX Gains and Losses| A Reminder of 1Q22| Net FX Losses Percentage of Bottom Line, % | Company | 1Q22 | ESRS | -149.3% | IRAX | -86.9% | ARCC | -86.8% | AUTO | -57.7% | ORWE | -25.0% | ORHD | -25.0% | DOMT | -23.7% | OLFI | -21.9% | EKHO | -9.6% | *CCAP | 209.9% | *CCAP reported net bottom line losses in 1Q22| Companies Expected to Report FX Gains | Net FX Gains Percentage of Bottom Line, % | Company | 1Q22 | HRHO | 165.1% | LCSW | 126.1% | BINV | 92.6% | ADIB | 87.1% | FAIT | 63.3% | CICH | 54.7% | DSCW | 42.0% | CANA | 36.9% | TMGH | 26.3% | QNBA | 25.9% | CIEB | 17.6% | ALCN | 17.2% | EGBE | 16.2% | PACH | 12.8% | COMI | 12.6%The Qatar Investment Authority (QIA) is considering investing in a green hydrogen and ammonia project in the Suez Canal Economic Zone.Egypt aims to sign projects with investments exceeding USD10 billion, on the sidelines of the upcoming climate summit in Sharm el-Sheikh.The African Development Bank intends to provide more than USD1 billion financing to the government's program for eco-friendly green projects "Nouwfi". The Trade and Industry Ministry will allow the immediate release of some goods imported for private use in a bid to reduce the clutter at ports, exempting goods imported for private use before 26 October from import regulations. The decision will apply to individuals, companies and factories.The House of Representatives approved disbursing a EGP300 bonus to public-sector employees and pensioners this month.Domestic liquidity (M2) in the banking sector increased to EGP6.95 trillion during the 9M2022, from EGP5.82 trillion pounds in December 2021.EGAL raised its selling prices in the local market by an average of EGP13-14k per ton for the month of November.In line with yesterday's rebars price increases, ESRS (FV:EGP21.75, OW) raised flat steel price by c. EGP2,000/ton to EGP22,000/ton (including VAT) as of November 1, 2022, 10%.Suez Cement is investing USD25 mn in the waste heat recovery facility at its Helwan plant. The plant will use excess heat from production lines to generate 20 MW of power, replacing 30% of the plant's electricity needs. CLHO (FV: EGP6.25, OW) signed an 18-year concession agreement for Haven Hospital, an operating hospital located in 6th of October City. ADCI released 1Q22/23 initial indicators. Bottom-line increased by 7.8% YoY and 256.4% QoQ to record EGP27.7 million, implying NPM of 18%.OLFI's (FV: EGP8.50, OW) factories have been non-functional for one week as their suppliers fail to provide the needed amount of palm oil as it's being held at ports. Rimco Investments acquired a 1.38% stake in EFID (FV: EGP12.00, OW) through buying 10 mn shares at a price of EGP10.15/share, and a total cost of EGP101.5 mn which brings Rimco Investment's stake to 5.35% with an average transaction value of EGP9.78/share.Al Moatabar Group's Camel Flour Mills (CFM) has acquired a majority stake in the distressed flour producer Five Stars. CFM did not disclose the size and value of the transaction.GB Auto raised the selling prices for their brand Haval by EGP70-100 thousand.HELI (FV: EGP12.40, OW) Board proposed the distribution of EGP0.22/share cash dividends (DY of 3.8%).According to local media, PHDC (FV: EGP3.37, OW) is raising selling prices by 10.0% this week.Total deposits of banks in foreign currency, other than the government, rose to EGP898.57 billion by the end of September, compared to EGP650.82 billion at the end of last
IGBESE FUN YIYANJU AAWO
IGBESE FUN YIYANJU AAWO
EGBE NI FUN ENITI NJE ERE IJEKUJE
EGBE NI FUN ENITI NJE ERE IJEKUJE
Matching our projections, MPC decided to keep rates unchanged. The CBE also decided to increase the required reserve ratio to 18% from 14% on deposits held in local currency with a maturity of less than 3 years. The required reserve ratio on foreign currency deposits remains the same at 10%. Positive impact on economy but banks will bear the cost. Banks with higher a higher deposit base whose maturity is less than 3 years and whose local currency deposit base is quite high will be more impacted by the decision. HDBK most impacted.Minister of Finance: It could take another month or two to finalize IMF funding. The size of the funding will only be decided in the final stages of negotiations. Egypt is looking to China and Japan for new avenues to raise foreign currency funding at a reasonable cost. Targeted funding is around USD500 million from each country. The government is also looking at the possibility of issuing a green Eurobond if market conditions allow. The government is still looking to hedge against commodities but will wait for the markets to cool further. The government has finalized its state ownership policy ahead of the economic conference that is being planned for the end of this month. EFIC intends to acquire 100 feddan land to build its new compound fertilizers project with an investment cost of USD500 million. Ministry of Transport received two offers to establish a new company to manage and transport goods via railways. The first was submitted by a consortium comprising ElSewedy-Al-Gharabli Contracting, while the second was submitted by Citadel Investment Group.OCDI is studying investment opportunities such as land acquisitions or company acquisitions and expects FY22 sales to exceed its EGP14.0 billion target.EMFD received bank approval for credit facilities of EGP2.0 billion.EGBE is planning to invest EGP2 bn in non-banking financial companies over the next 3 years, where the bank will acquire direct and indirect stakes in several companies in the sector.HRHO has invested USD50 million in startups since the beginning of 2022, through the venture capital accelerator EV-EFG.Around 11 new marinas for tourist yachts could be set up on the Mediterranean and Red Sea coasts.Suez Canal Economic Zone Authority expects the first phase of the EGP1.5 bn Abbas Berth to start operating in West Port Said port in October 2022.
El Sisi appointed 13 new ministers in a cabinet shake-up. Key changes: CIB's retail banking chief, Ahmed Issa, replaces Khaled El Anany at the Tourism Ministry, while Nevine Gamea will make way for Rep. Ahmed Saleh, who had headed the House Economic Affairs Committee. Cairo Glass Chairman Mahmoud Esmat has been named the new public enterprises' minister, replacing Hisham Tawfik. CBE deputy governor Gamal Negm: Egypt's foreign currency shortfall narrowed to USD 400 mn in July from USD 3.9 bn in February due to the central bank's move to restrict imports, eliminating the need for “a significant reduction” in the exchange rate. Tarek Amer has no plans to step down before his second term ends in November 2023. President Abdel Fattah El Sisi appointed Walid Gamal El Din as chair of the Suez Canal Economic Zone for a one-year term. Qatar Investment Authority is in talks with the Sovereign Fund of Egypt (SFE) to purchase stakes in several Egyptian companies including Fawry, e-Finance, AMOC, and MFPC. PIF is interested in an equity stake in Egypt Aluminum (EGAL) and the new hotels company. ADQ reportedly wants to buy another 10-15% in Mopco (MFPC). Egypt is in talks with regional and international banks to borrow USD 2.5 bn amid mounting economic headwinds. First Abu Dhabi Bank (FAB) and Abu Dhabi Commercial Bank (ADCB) are reportedly arranging the loan. The government has prepared a program to implement seawater desalination projects with the participation of the private sector, and it is scheduled to invite interested investors to submit applications until September 22nd. Egypt's sovereign fund is set to be a partner with a stake ranging between 10% and 25% in each project.Ethiopia has completed the third filling of its USD 4.2 bn Grand Ethiopian Renaissance Dam. Cabinet has approved measures announced by Prime Minister Moustafa Madbouly last week to limit the country's use of electricity, raise natural gas exports, and increase inflows of foreign currency. The Tourism Promotion Authority contracted with the American advertising company “McCann” to implement a promotional campaign for Egypt for a period of 3 years. The total spending on medical services provided to comprehensive health insurance beneficiaries amounted to EGP4.6 billion in FY21/22, noting that EGP1.58 billion were funded by Public Authority for Healthcare, and EGP3 billion by the state's fiscal budget. ADIB announced that due to the success of the first capital increase through a rights issue, the remaining EGP 1.0 bn, to reach the min. required capital of EGP5.0 billion will be financed through a second round of rights issue with details to be announced in due course.ATLC released 2Q22 standalone financial results where net profit recorded EGP89.4 million (+243% q/q, +301% y/y). Quarter profits were boosted by one-off securitization profits pre-tax of EGP88.9 million. 1H22 net profit reached EGP155.5 million (+20% y/y), BoD called for an EGM on 4th of September to discuss its proposal to increase the company's paid-in capital by EGP150 million from EGP287 million to EGP437 million, implying 60 million new shares at a par value of EGP2.50/share, through a rights issue. ATLC is currently trading at 0.9x P/B22 and 3.9x P/E22.EGBE 2Q22 standalone net profit pre-appropriations recorded EGP212 million (+7% y/y, +22% q/q). EGBE is currently trading at P/E22 of 4.6x and P/B22 of 0.5x.SAUD 2Q22 net profit recorded EGP414 million (+12% y/y, +18% q/q), bringing 1H22 to EGP 783 million (+26% y/y). SAUD trading at P/B22 of 0.5x and P/E22 of 2.4x, with ROAE of 20%.EMFD submitted an offer to El Mostakbal for Urban Development to develop El Mostakbal's 1,000 feddan land plot in East Cairo through a revenue share system; negotiations are still ongoing with the option of land acquisition on the table.PACH's BoD d
CBE allowed the EGP to fall 16% against the USD to EGP 18.27 to the USDCBE raised interest rates by 100 bps at a special monetary policy meetingNational Bank of Egypt and Bank Misr offer one-year certificates of deposit at 18% yieldThe government is re-introducing the monthly customs exchange rate, setting it at EGP 16 for imports of basic commodities and materials used for manufacturingWhich companies will benefit from a weaker EGP versus the USD? Mainly exporters and the industrial sector have a direct benefit; ABUK, MFPC, EGCH, EKHO, ESRS, IRAX, EGAL, SKPC, AMOC, ORWE, ALCN, SWDY, RACC, ECAP, LCSW; Indirect benefit to real estate developers and banks through inflation (nominal impact on their size)Which companies will benefit from interest rate rise? Banks whose treasury exposure out of total assets is the highest: FAIT, EGBE, SAUD, COMI; Banks whose funding base is of low cost: HDBK, COMI, CIEB, ADIB; COMI is a winner on both points above, and at current multiples, it is a top pick (P/E of 5.9x and P/B of 1.0x); Cash-rich companies: EMFD, MBSC, HRHO and ABUKMinistry of Finance approved a package of social protection procedures, worth EGP130 billionThe capital gains tax on IPOs is being slashed by 50% for a two-year periodADQ wealth fund will purchase up to 18% of COMI, unspecified stake in FWRY alongside three other companiesSovereign Fund of Egypt has lined up investments for Egypt worth more than USD 2 bnSKPC approved in its OGM the issuance of 1:5 bonus shares; SKPC trades at 2022 multiples of P/E 5.7x and EV/EBITDA 4.5x. HELI Board approved the sale of a receivables portfolio for EGP320.0 million (EGP0.24/share) to EXPAWeekly direct flights between Baku and Sharm El Sheikh resumed on 18 March 2022Weekly Commodities UpdateBrent futures are trading at USD112.90/bbl and averaged USD95.34/bbl YTDEgypt Urea Index increased by 3% WoW and prices are currently at USD1,130/ton (ABUK)Polyethylene (HDPE) prices were up 9% WoW and prices are currently at USD1,510/ton (SKPC)Diesel-HSFO spreads were up 26% WoW and are at USD528/ton (AMOC)Polypropylene prices climbed to reach USD1,350/MT, higher WoW by 5.5%Steel/Iron Ore spreads rose by 2% to USD621/ton compared to last week (ESRS)Aluminum prices retreated this week by 3% to stand at USD3,381/ton (EGAL)Retail cement prices in Egypt remained stable at the range of EGP1,450 -1,550 per tonSteam Coal came down 9% WoW to record USD336/tonCrude palm oil prices dropped to reach USD1,4230/MT, -9.8% WoWSMP prices rose by 1.4% to reach USD4,545/MT
Rádio Cidadania é um podcast da Universidade da Cidadania da UFRJ, vinculada ao fórum da cultura da Universidade Federal do Rio de Janeiro.
LATI DENA OFINKIN, A GBODO FO OWO WA LOORE-KOORE PELU OMI ATI OSE; KI A MASE FÓWO KAN OJU, IMUN ATI ENU WA; WE SHOULD HAVE THE ASSURANCE THAT GOD WOULD ANSWER US AT ALL TIMESA GBODO NI IDANILOJU PE OLORUN YOO GBO IGBE WA TI A BA KE PEE
LATI DENA OFINKIN, A GBODO FO OWO WA LOORE-KOORE PELU OMI ATI OSE; KI A MASE FÓWO KAN OJU, IMUN ATI ENU WA; WE SHOULD HAVE THE ASSURANCE THAT GOD WOULD ANSWER US AT ALL TIMESA GBODO NI IDANILOJU PE OLORUN YOO GBO IGBE WA TI A BA KE PEE
Pharos Expectations for the February 2022 EGX30 Rebalancing| Additions: EFIH (3.7%), EMFD (0.7%), and ADIB (0.4%). Deletions: ORWE, PRDC, FDWA, ASPI, EGTS, and RAYA. Notable Weight Changes: ABUK's weight should increase from 4.0% to 4.9%, TMGH's weight should decrease from 4.7% to 4.0%, HRHO's weight should decrease from 4.8% to 4.1%.Egypt will receive a USD368 million loan from the Arab Monetary Fund (AMF)Egypt aims to increase exports to USD40 billion by the end of 2022 (+25% YoY)The EU has filed a legal challenge with the World Trade Organization against Egypt over its import registration system Oil prices continue to rise, as bbl approached USD90 last week ABUK released positive 2Q21/22 bottom line at EGP1,913 million (+138% YoY, +48% QoQ); ABUK is currently trading at 2022/2022 P/E of 4.5xCIRA released 1Q21/22 net profit before NCI at EGP100 mn (-15.4% YoY); Despite revenue growth, a drop in margins was witnessed due to the rise in expenses due to the company's expansions, which haven't yet realized profits, as well as the rise in financing expenses; CIRA is currently trading at a FY21/22f P/E of 27.5x and EV/EBITDA of 11.3xCIRA raised their stake in Egyptian EdTech startup Orcas to 12%OIH has announced the completion of the sale of its subsidiary “Trans World Associates Ltd” equivalent to approximately EGP0.10/OIH share; Not decided whether there will be a dividend distribution from the sale proceedsEGBE released 4Q21 net profit pre-minority interest and appropriations at EGP189 million (+9% q/q, +19% y/y), attributable to the provisions' reversals amounting to EGP115 million; EGBE is currently trading at P/E22 of 4.74x and P/B22 of 0.45xFRA is planning to provide new green and Islamic products in the microfinance sectorRAYA's subsidiary Aman and CCAP's Taqa Arabia are setting up a fintech company targeting energy consumers
Minette is your Your Ultimate Travel Planner, she helps you find and book the best vacation packages, hotel, cruise, resort, and all inclusive deals and much more evolving travels. She is the owner of the Travel planning. While using the person-centered method, My goal is to help people plan and organize global travels based on destination and budget. Everything Mimi Travels: www.mimistravel.agentstudio.com IG@iknowwhoiam_mimi & IG@mimistravel2.0 Hosted by: RIFLEX ► SUBSCRIBE NOW TO SITM: https://www.youtube.com/c/SitMPodcast ________________________ Stuck in The Middle features Entrepreneurs, Innovators, Creatives of African descent. Hear stories, ideas, experiences, & advise on breaking barriers weekly.
Ministry of Finance decided to reduce the burdens of the capital gains tax on local stock exchange investors, by deducting all expenses related to trading as well as an incentive for the funds invested in the stock exchange from the tax base in case profits are achievedAnnual core inflation recorded 5.2% in October compared to 4.8% in SeptemberETEL reported 9M21 net profit came at 6.09 billion, +72.5% YoY; We upgrade our valuation of ETEL to EGP18.00/share; Telecom Egypt is currently trading at 2022f P/E of 3.3xe-cards, a subsidiary of e-finance, signed an agreement with Premium Cards to produce and manage their smart cards Vodacom Group has entered into a binding agreement to acquire a 55% shareholding in Vodafone Egypt for a total equity consideration of USD2.738 billion; Vodacom Group has committed to Vodafone that it will sign a deed of adherence to the shareholders' agreement with Telecom EgyptWe downgrade our FV on ABUK to EGP21.31/share, with equalweight recommendation; ABUK is trading at FY21/22 P/E of 6.0x and EV/EBITDA of 3.1xWe upgrade our FV on MFPC to EGP113.66/share, maintain an overweight recommendation; MOPCO is trading at 2022 P/E of 5.2x and EV/EBITDA of 3.3xHDBK 9M21 standalone bottom line at EGP 1,434 million (+1% y/y); The stock is currently trading at 2.9x P/E22 and 0.5x P/B22 with ROAE of 18%EGBE 9M21 net income at EGP507 million (+9% y/y); EGBE is currently trading at annualized P/E21 of 4.78x and annualized P/B21 of 0.49xAUTO has begun formulating alternative sales strategies to mitigate loss of Tuk-tuk salesECAP reported solid 3Q21 net profit at EGP31 million, compared to EGP13 million the previous quarter; ECAP is currently trading at FY2022 P/E of 8.0x and EV/EBITDA of 5.7xThe executive framework for PORT and AMER's legal right to compensation of USD39.9 million and 5.0% interest calculated from 11 October 2014, has been set by the courtCabinet approved amendments to shorten the home registration process The transport ministry signed an MoU with Hong Kong's Hutchison Port to operate a multi-purpose station in Dekheila Port; Threatens ALCN's profitability and market share
Egbe is an award winning lawyer that every small business needs in their armour! In today's episode we talk about the top legal mistakes small businesses make and how to avoid them. Egbe delivers easy to action tips and tricks and inspires us with her refusal to “go small”.
Having your content copied or stolen is an upsetting - but inevitable - downside of being a content creator. And people won't always realise what they're doing is wrong. So how can you protect your content from theft? What's the difference between someone being inspired by your work and copying it? And what should you do if you believe someone has copied your work? That's exactly what you'll find out in this interview with Egbe Manton - a lawyer who specialises in helping entrepreneurs protect their businesses. You'll also find out how to make sure you don't land yourself in trouble for stealing someone else's content - even if you didn't intend to. Key moments [2:32] Types of content people typically steal from entrepreneurs [3:00] The difference between copying and ‘being inspired' [6:21] How to prevent clients stealing your content [8:49] Who owns the copyright for creative work [9:39] Why copyright transfer agreement should be included contracts with freelancers/contractors [12:11] What to watch out for in photographers' contracts [14:23] How to reach out to someone you believe has copied your work [17:34] When to consider send a legal letter (cease and desist) [17:53] Content curation: what's ok to share and what isn't [19:26] Sharing clients' testimonials: when to ask for permission [21:37] The dangers of swiping content from legal documents e.g. terms and conditions Egbe is providing legal guidance for educational purposes only and nothing said on this podcast should be construed as legal advice. If you wish to obtain legal advice, you should contact the services of a solicitor or equivalent attorney. Key links https://www.mantonlegal.co.uk/egbemanton (Egbe Manton's website) Egbe Manton on https://www.instagram.com/egbemanton/ (Instagram) & https://www.linkedin.com/in/egbe/ (LinkedIn ) https://www.janetmurray.co.uk/ (Janet Murray's) website. Janet Murray onhttps://www.instagram.com/janmurrayuk/ ( Instagram) Janet Murray onhttps://www.facebook.com/janetmurrayofficial ( Facebook) Janet Murray onhttps://www.tiktok.com/@janmurrayuk ( TikTok) Janet Murray onhttps://twitter.com/jan_murray ( Twitter) Janet Murray onhttps://www.linkedin.com/in/janet-murray74/ ( LinkedIn) Janet Murray'shttps://www.janetmurray.co.uk/audience ( Audience Growth Quiz)
Mi Doble. La fraternidad, del Egbe, de donde venimos? MUNDO YORUBA LATINOAMERICANO EPISODIO 72 Llegamos a los 1000 Seguidores. Muchas felicidades a todos
Don and Sueanne Campion join Mornings with Eric and Brigitte on Tuesday to give an update on their ministry in Nigeria. Don Campion, a South Floridian who was raised in Nigeria by missionary parents began a restoration project some years ago to restore the missionary hospital in the African bush of Egbe, Nigeria, where his parents once served. The Campions will share details on more improvements still being made to the hospital and the college campus in Egbe, Nigeria. See omnystudio.com/listener for privacy information.
This is a lecture by Igbo Heritage organization. To listen to more lectures from this organization, visit their YouTube channel at https://www.youtube.com/channel/UCT0LuDbucoyN77rJn5jG-ag Fund Raising via 5600433709 "Odinani Cancer Rescue Foundation" Fidelity Bank. Visit https://igboheritage.net Follow on facebook at https://www.facebook.com/Ancientwisdom1 Sponsors Start your own podcast with Anchor - https://anchor.fm/start --- Send in a voice message: https://anchor.fm/igbo-lectures/message Support this podcast: https://anchor.fm/igbo-lectures/support
This lecture is given by Nwaada Ngozichukwuka Adaobi Ijele. Watch her videos at: https://www.youtube.com/channel/UCE_T6BCe9KjFwWlGYV6OgfA/videos --- Send in a voice message: https://anchor.fm/igbo-lectures/message Support this podcast: https://anchor.fm/igbo-lectures/support
Duda é administrador do projeto Egbe Digital. Vamos conhecer essa iniciativa e saber mais sobre o fortalecimento de nossa comunidade. ------------ #Umbanda #Prosa #Axé #Umbanda #UmbandaSagrada #Empreendedorismo #União #Ajuda #EgbeDigital
In this episode I sat with Egbe Manton, a lawyer and founder and we talk about mentorship, entrepreneurship, shaking up legal with a purpose and everything in between. Egbe is on a mission to disrupt the legal space and bring it into the 21st-century. She is a lawyer and the founder of Manton Legal, a legal consultancy that offers simplified, affordable legal guidance to entrepreneurs and SMEs.Working with freelancers, founders and executives, Egbe empowers people to pursue their passions and build their commercial offering whilst her team takes care of the legals and protects the business. By blending advisory and digital innovation, Egbe is set to launch an exciting new venture in 2021 that will save her clients more money, more time and let them focus on what they do best. Find out more about Egbe's services at www.mantonlegal.co.uk and on Instagram here If you enjoyed this episode and it inspired you in some way, I'd love to hear about it and know your biggest takeaway at jaz@justjaz.co. Don't forget to subscribe, rate and review the podcast so you never miss another episode! Newsletter | 1-1 coaching | Upcoming events | Self-paced resources | Instagram | LinkedIn | Twitter Like my intro music? Download a copy here from UK musician Intalekt
Note: This episode is for information purposes only and does not constitute legal advice. Egbe Manton is a commercial lawyer and commercial director of Manton Legal Consultancy. In this episode, Egbe and I chat about the legal basics with regards to contracts. She shares her experience, thoughts and practical tips on: - Avoiding future conflict with co-founders and clients - Options available to those facing challenges around late or non-payments - How to contracts can help ensure a healthy client relationship - How she aims to do things differently in the legal profession - Rebellion in her corporate career and in her consultancy business Manton Legal Consultancy specialises in simple, affordable legal guidance for entrepreneurs and founders. You can find out more about Manton Legal at .
How To Find A Professional Mentor On my first trip to Nigeria back in 2006 I met a man who was unpretentious, slow, deliberate, and available. Abraham Dada, known simply as Pa Dada, would eventually become for me a standard-bearer of life and leadership. He was a sage. He was a man who lived out the challenging invitation to have “eyes to see, and ears to hear”. Imagine if Yoda were a Nigerian man. That's Pa Dada. His words were few, each one cutting consciously like a razor-sharp blade, causing little pain while exposing the inside. Mr. Dada was never the loudest person in the room, but his presence alive, known, and decisions always traveled through his unspoken filter. His life was spent serving... at times with words and actions, at other times with simple presence. Each time I visited Mr. Dada at his unpretentious home in Egbe, Kogi State, he would be sitting thoughtfully in a blue plastic yard chair on the aft side of a small plastic table. Rarely was he wearing something other than a simple linen set of shirt and trousers. He would usually have his crooked reading glasses on while reading or writing. Within five minutes of arrival, we would always be welcomed with a warm bitter lemon and a soft “e'kaabo” and “e'dupe”. If I was visiting without Ashley and the kids, Mr. Dada would kindly ask, “How is Mommy?”, and of the kids, “How are my little friends?” One of my favorite images that Ashley captured was Mr. Dada thumbing through my book. The teacher humbly offering a generous moment for the student. In 2014 and 2015 Mr. Dada and I spoke often by phone when I was not in town due to some strain that was taking place within an initiative for which both he and I were committed to. I remained in a state of foggy confusion and did not hesitate to verbalize bewilderment, and I believe Mr. Dada did as well, although he never spoke a crossword or thought to any person or scenario. It was a real-life, in the moment lesson in “considering others better than yourself.” It was a moment of transparent grace. On Wednesday night October 28th my phone rang with Mr. Dada's number. Answering, his daughter called and said simply, “Pa Dada passed in the midnight and he wanted me to let you know.” “He wanted to let me know.” Of all the conversations I remember, these may very well be the words that stick. “He wanted to let me know.” Two significant mentors have passed on from this life in the past decade. The first is the man who invited me to look through the telescope of the nations and see God's creation beyond my own borders. Dr. Mike Barnett summoned me to embrace the nations. Mr. Dada invited me to enjoy the wisdom and grace God has placed among the nations and to do it slowly and methodically. With Mr. Dada, I did not sign up for a global mentor program, and I did not ask that he formally “mentor” me. I just went with a blurry, poorly planned vision to “work in Nigeria” and over time a friendship developed that provided me with a 5 foot 2-inch man in his nineties who just “wanted to let me know” with limited words and maximum presence. What is that place, or those people, or that thing that you have an unreasonable, blurry desire for? What if you just set up lunch or booked a ticket and just went regularly so you too can look up fourteen years later and realize that you too found a true gift whose ambition was to “let me know”? How do you find a professional mentor? Many times is by not signing up for the professional mentoring program and instead of being bold, proactive, courageous, and a bit unreasonable to make friends with some unlikely people who are older and more experienced than you. Who do you need to go see today? I wish I could go see my friend and just sit for a while. Scott Beebe is the founder of Business On Purpose, author of Let Your Business Burn: Stop Putting Out Fires, Discover Purpose, And Build A Business That Matters. Scott also hosts The Business On Purpose Podcast and can be found at mybusinessonpurpose.com.
How To Find A Professional Mentor On my first trip to Nigeria back in 2006 I met a man who was unpretentious, slow, deliberate, and available. Abraham Dada, known simply as Pa Dada, would eventually become for me a standard-bearer of life and leadership. He was a sage. He was a man who lived out the challenging invitation to have “eyes to see, and ears to hear”. Imagine if Yoda were a Nigerian man. That’s Pa Dada. His words were few, each one cutting consciously like a razor-sharp blade, causing little pain while exposing the inside. Mr. Dada was never the loudest person in the room, but his presence alive, known, and decisions always traveled through his unspoken filter. His life was spent serving... at times with words and actions, at other times with simple presence. Each time I visited Mr. Dada at his unpretentious home in Egbe, Kogi State, he would be sitting thoughtfully in a blue plastic yard chair on the aft side of a small plastic table. Rarely was he wearing something other than a simple linen set of shirt and trousers. He would usually have his crooked reading glasses on while reading or writing. Within five minutes of arrival, we would always be welcomed with a warm bitter lemon and a soft “e’kaabo” and “e’dupe”. If I was visiting without Ashley and the kids, Mr. Dada would kindly ask, “How is Mommy?”, and of the kids, “How are my little friends?” One of my favorite images that Ashley captured was Mr. Dada thumbing through my book. The teacher humbly offering a generous moment for the student. In 2014 and 2015 Mr. Dada and I spoke often by phone when I was not in town due to some strain that was taking place within an initiative for which both he and I were committed to. I remained in a state of foggy confusion and did not hesitate to verbalize bewilderment, and I believe Mr. Dada did as well, although he never spoke a crossword or thought to any person or scenario. It was a real-life, in the moment lesson in “considering others better than yourself.” It was a moment of transparent grace. On Wednesday night October 28th my phone rang with Mr. Dada’s number. Answering, his daughter called and said simply, “Pa Dada passed in the midnight and he wanted me to let you know.” “He wanted to let me know.” Of all the conversations I remember, these may very well be the words that stick. “He wanted to let me know.” Two significant mentors have passed on from this life in the past decade. The first is the man who invited me to look through the telescope of the nations and see God’s creation beyond my own borders. Dr. Mike Barnett summoned me to embrace the nations. Mr. Dada invited me to enjoy the wisdom and grace God has placed among the nations and to do it slowly and methodically. With Mr. Dada, I did not sign up for a global mentor program, and I did not ask that he formally “mentor” me. I just went with a blurry, poorly planned vision to “work in Nigeria” and over time a friendship developed that provided me with a 5 foot 2-inch man in his nineties who just “wanted to let me know” with limited words and maximum presence. What is that place, or those people, or that thing that you have an unreasonable, blurry desire for? What if you just set up lunch or booked a ticket and just went regularly so you too can look up fourteen years later and realize that you too found a true gift whose ambition was to “let me know”? How do you find a professional mentor? Many times is by not signing up for the professional mentoring program and instead of being bold, proactive, courageous, and a bit unreasonable to make friends with some unlikely people who are older and more experienced than you. Who do you need to go see today? I wish I could go see my friend and just sit for a while. Scott Beebe is the founder of Business On Purpose, author of Let Your Business Burn: Stop Putting Out Fires, Discover Purpose, And Build A Business That Matters. Scott also hosts The Business On Purpose Podcast and can be found at mybusinessonpurpose.com.
O’s Corner Episode 3 - Laying the Cornerstones
KI A MASE FÓWO KAN OJU, IMUN ATI ENU WA; A GBODO NI IDANILOJU PE OLORUN YOO GBO IGBE WA TI A BA KE PEE
KI A MASE FÓWO KAN OJU, IMUN ATI ENU WA; A GBODO NI IDANILOJU PE OLORUN YOO GBO IGBE WA TI A BA KE PEE
Adenike Akinsemolu, founder of The Green Institute, talks about sustainability issues across Africa.
Today’s guest is Egbe Manton, lawyer and founder of Manton Legal Consultancy. In this episode Egbe tells us how she has built a successful law career, securing promotions by eliminating unconscious bias variables wherever possible, like the time she took off her wedding ring for a job interview. Egbe tells us how contracts are fundamental to protect your business and create healthy boundaries with clients, ensuring everyone is on the same page and helping avoid scope creep. And despite the fact that Egbe’s work is to deromanticise business by grounding it in its practicalities, Egbe tells us that shareholder agreements really do bring people together! This conversation was recorded on 29th July 2020. Tweet us! https://twitter.com/TheWotPod DM us! https://www.instagram.com/thewotpod/ Or hop over to Facebook https://www.facebook.com/thewotpod Connect with Egbe Manton: https://www.mantonlegal.co.uk/ https://www.instagram.com/egbemanton/ Connect with your host Frankie Cotton: https://frankiecotton.com https://twitter.com/FrankieCotton_ https://www.instagram.com/frankiecotton_/ This episode was sound edited by Beth Davison https://www.bethdavison.com/. Women On Top is a Let’s Be Frank production. https://letsbefrank.co
DARA PO MO EGBE TI O NI ISORO TI O JO TIRE; ANFAANI JIJE ONIGBAGBO
DARA PO MO EGBE TI O NI ISORO TI O JO TIRE; ANFAANI JIJE ONIGBAGBO
Egbe is a corporate lawyer and Commercial Director of Manton Legal Consultancy. She has worked in a global law firm and has particular experience providing legal guidance to entrepreneurs and founders on contractual documentation, GDPR and IP. She is passionate about providing simplified legal advice to enable entrepreneurs and founders to reach their business goals. In this interview you will learn: 1: Driven people aren’t driven in all areas of their life. 2: You need to set red lines in order to maintain high performance 3: Sometimes listening is the solution to the problem 4: Racism is both top-down and bottom-up
This week’s Wrath and Grace Radio Conversation is with Olamide Falase, the academic dean of the Institute of Pastoral and Theological Training in Egbe, Nigeria
Esta semana en Vadiar Radio nos visitan mujeres Capoeristas de EGBE, escuchemos sus experiencias, trabajo y propuestas.
Egbe Adeoye host of ALV (formerly #TTARadio) in conversation with Dimple Patidar, Acting Director for Short Courses at Wits Enterprise.In this conversation, Egbe and Dimple discuss how learning and education are changing and why short courses offer an accessible pathway for individuals looking to grow and upgrade their skills in their current jobs. Dimple also shares how the Wits University's short course offerings have provided unskilled, unemployed individuals with an opportunity to acquire skills that render them employable within a short time frame.The short courses unit within Wits Enterprises offers learners the opportunity to deepen capabilities and gain technical skills at a steady pace through a variety of media: face-to-face, blended learning and online university accredited short courses from four faculties; Commerce, Law & Management (CLM), Engineering, Humanities & Health Sciences.Sponsored Series
Egbe Adeoye in conversation with Dimple Patidar, Acting Director for Short Courses at Wits Enterprise. The world of work is constantly changing; this places a premium on ensuring that one’s skills are current. The short courses unit offer learners the opportunity to deepen capabilities and gain technical skills at a steady pace. As part of Wits University’s strategy to make education opportunities more readily available to learners, Wits Enterprise ensures that this learning is available in a format that suits your needs; face-to-face, blended learning and online university accredited short courses from four faculties; Commerce, Law & Management (CLM), Engineering, Humanities & Health Sciences. In this conversation, Egbe and Dimple discuss how learning and education is changing and why short courses offer an accessible pathway for individuals looking to grow and upgrade their skills in their current jobs. Dimple also shares how the Wits University’s short course offerings have provided unskilled, unemployed individuals with an opportunity to acquire skills that render them employable within a short time frame.
The included Podcast has been designed as a tool to bring the practice of inclusion into the forefront of how we do business. In this episode Egbe Adeoye, host on #TTA Radio, brought to you by Talenttalks, continues her conversation with Roy Gluckman, the founder and CEO of Cohesion Collective (CoCo) on some common myths offered by organisations as excuses for lack of inclusion within organisational spaces. In the discussion, Egbe and Roy agree that even though it would not be correct to say that the narratives advanced by organisations are all false, it can be noted that such narratives reflect of the reality that some organisations are refusing to interrogate their thinking. Roy says: “These narratives are being used as a tool to deflect and defer responsibility.” He continues, “These myths are lazy responses to what our real social, economic, mental, emotional, physical, even issues that people deal with every day in this workplace where we say we want the best people.” The idea that “She’s a great candidate but does not fit our culture" is discussed and the agreement is that this is just a proxy for other biases. The two also discuss the myth that black talent is always moving because of money, and Roy argues that this is a lazy answer to a more complex problem. The call to action: Through self-introspection, organisations need to identify the real reasons why a specific talent demographic is not feeling at home in the organisation. TOPICS DISCUSSED IN THIS EPISODE: Where are the good black people? - 02:09 Why are they so sensitive? - 03:07 Where the narratives come from – 04:53 Not a good culture fit – 05:39 Age discrimination – 07:22 The idea of the good blacks – 11:54 Young black talent always moves for money – 17:38 Myths are lazy responses- 22:32 The oblivion of senior leadership- 26:42
Egbe Adoye, host of ALV (formerly #TTARadio), in conversation with Corin Matthews. "How can you be curious and courageous about who you are and what might be stopping us from coming together to stir up conscious change? How do we give voice to the ‘no', the disquiet that tells us in our bodies and thoughts and feelings that all is not well?"We have more in common than we think, so why is identity politics on the rise globally? Why do we have xenophobic attacks in South Africa? Why aren't we moving forward on the transformation agenda? Why are we stuck on how to exit Brexit? Why is right-wing politics on the rise in Europe? Why is being black and male in America almost an epidemic? Why don't black lives matter? Why are we caught up in futile cycles of ethnic politics all across Africa? So many questions. One answer could be, "because 'race' isn't easy. even so, we can't afford to be silent? Corin asks, “is this ‘thing' not simpler? Have we not all disappeared into our middle-class existences, wanting to be comfortable at all costs, keeping a bourgeoisie status quo alive? Can we locate the hidden parts of ourselves locked in privilege or lack of privilege, that are in the shadow and hold us back from truly connecting in our thinking, feeling, doing? In his view, "knowing our comfort touchpoints around race, and not hiding with denialism of who we are, this is work we all have to do." A word from ALV host, Egbe. These are the sobering topics Corin and Egbe grapple with, in this podcast episode. It's one of the hardest conversations I've had topic wise. It's also one of the safest. Corin is an exceptional human being. His authenticity to his own growth and learning, the gentle firmness with which he holds himself and others accountable means that there is shying away. We confront ourselves and, when we do the work, we are all the better for it. Please let us know what you think. Send responses to africasleadingvoices@ncal.co.zaBe blessed.
Egbe Adeoye, host of ALV (formerly #TTARadio) continues her conversation with Roy Gluckman, the founder of Cohesion Collective (CoCo).In this episode, Egbe and Roy unpack the organization as a house. Maybe “we've been doing it”, but are we clear what we have been doing and for whom? Inclusion is practical and action-based. It doesn't end with our intentions, noble as they may be. It is also about impactful, self-reflexive practices to interrogate how much of our comfort we are willing to give up so that others can contribute stronger.
The Future of Work and the emerging role of HR : Episode 1 My conversation with Themba Chakela was like walking “through the looking glass”, in all the best ways. Moving from idea to idea, we talked about what’s changing in the people practice space. I like Themba’s positioning of HR as People People. If as Themba says, “people are the last frontier in business”, what do we need to do, be, know, feel, as People People so that employees can thrive and business is optimized? Well, the first thing we certainly need to do according to Themba is decolonize HR. I agree. We also spoke about symbolic shifts and finding hidden wisdom. Curious? Listen to find out more.
Egbe is an Organizational Effectiveness practitioner with over 20 years of corporate experience as a business analyst, talent strategist, and learning and leadership development expert. She is also an executive coach. Her focus has always been on leaving the system better than she found it and encouraging others to do the same. Her full career profile can be accessed via this link:http://linkedin.com/in/egbe-adeoye-543b4912
Egbe is an Organizational Effectiveness practitioner with over 20 years of corporate experience as a business analyst, talent strategist, and learning and leadership development expert. She is also an executive coach. Her focus has always been on leaving the system better than she found it and encouraging others to do the same. Her full career profile can be accessed via this link:http://linkedin.com/in/egbe-adeoye-543b4912
In this episode I get to speak with Dr Morne Mostert from the Institute of Futures Research at Stellenbosch University. Go Maties! Morne is a powerful combination of intelligence, humour and intentionality. Nothing ‘’just happens’’ and yet everything comes together in a seriously fun way. I laughed hard and learnt a lot. Discerning the future or should I say ‘’futures’’ is serious, but it should not be faced with fear. There are skills we can all develop. We become what we put our energies towards. Where is your head at? In understanding what’s already been? In the now? Or, in imagining and creating what could be? Listen to find out what Dr Mostert recommends as the ideal ratio. Enjoy.
“Who’s narrative is it anyway, and in service of what?” Mimi Kalinda, Group CEO of the Africa Communications Media Group ACG, and a Forbes Afrique top 40 under 40 for 2018 is a powerhouse. And she’s serious about Africa and African narratives. When ACG says ‘’we know Africa’’ it’s neither idle or ‘’just marketing’’, it is real With operations and a footprint of partners covering all 54 countries on the continent, Mimi is all in. This amazing woman continues to lead her firm, breaking barriers and busting myths about what is possible and what excellence is on our continent. I’m a Mimi fan, can you tell? We discuss doing business in Africa, the good, bad and ugly. We also tackle the narrative #AfricaRising and discuss ‘’who’s narrative is it anyway, and in service of what?’’ I think you’ll really enjoy this one. Let me know what you think in the comment section below.
In this episode, Egbe Adeoye a Partner at Talenttalks Africa and host of #TTARadio continues her conversation with Roy Gluckman, the founder and CEO of Cohesion Collective (CoCo) on Inclusion within organizational spaces. As Roy breakdown the components of the CoCo “DIE pie”; Egbe and Roy talk about the multiple dimensions of Diversity, Inclusion and Equality and its links to micro-culturalism. The topic of Insiders and Outsiders, and how we are all often both “in and out of what is valued” at the same time, in different contexts, is also discussed. Using the metaphor of organizations as houses, both explore how comfort, which CoCo defines as inclusion, is fundamental to productivity. How is comfort (Inclusion) affected by what happens socially, both internally i.e., within the house, and externally in the broader cultural context? Listen as they explore how the foundations of organizational houses often manifest in the South African context. Workplace productivity, or the lack thereof, is also explored against the three fundamental pillars of the organizational house: talent, leadership and culture (TLC). Topics Discussed in this Episode: • The Diversity, Inclusion and Equality Pie (05:28) • Race and the levels of DIE (07:45) • Micro-culturalism (10:00) • Organisations as houses (12:20) • TLC: Talent, Leadership and Culture • Comfort in the workspace (27:07) • Organisation value gap (30:50) • Meritocracy (36:04)
Apero Obinrin (Egbe Nini) Apa Kinni Episode 30 by Wellsradio
Apero Obinrin (Egbe Nini) Apa Keji Episode 31 by Wellsradio
We’ve been doing it ……….. or have we? This one is for the youth. Yes, you. If you’re between the ages of 15 & 35, this one is for you. And to be honest for the rest of us too. In this episode, I talk to Dr. Karina de Bruin the MD of JvR Academy who is an accomplished academic in her own right. We discuss the future of work, and, as it’s youth month, we focus on the youth. Karina’s only slightly joking when she says “we start preparing for our careers the minute we are born”. Why? Because when we step back, we realize that the things that make us “work ready” in this 21st Century workspace, are skills we’ve been tacitly learning from a very young age. Making it work for the world of work so to speak , is really about being aware of what you have and building on it. Dr de Bruin provides very practical après for building these skills and strengths. I particularly enjoyed her 5 steps for building EQ. Enjoy.
Nozipho defines herself as a conversation strategist. She is multi-talented and singularly focused on excellence. Authentic and ‘present’, Nozipho talks about conversation as the birthplace of action as words are framed and reframed for growth. In our conversation we discuss African Excellence, what it is and what our custodianship is in this generation; holding difficult spaces with grace; and working from purpose.
Listen here for our 2nd episode of the Career Success Podcast. Our guest on this episode is Vincent Egbe who has 12 years’ experience in FMCG within the African market. Vincent is currently the General Manager of West and Central Africa for The Kraft Heinz Company.
The Hermit's Lamp Podcast - A place for witches, hermits, mystics, healers, and seekers
TeeDee and Andrew talk about the values of initiation. How it changes a person and how that enhances ones talents. They also talk about Oshun and how Teedee understands her after 20 years of initiation. Connect with TeeDee on her website. Think about how much you've enjoyed the podcast and how many episodes you listened to and think consider if it is time tosupport the Patreon You can do so here. If you want more of this in your life you can subscribe by RSS , iTunes, Stitcher, or email. Thanks for listening! If you dig this please subscribe and share with those who would like it. Andrew ANDREW: Welcome to another installment of The Hermit's Lamp podcast. I'm here today with T-D González, who I know from the Orisha community, and who has been making some wonderful product and really representing some of the things that I think are significant and important about both tradition and initiation. So, for folks who don't know you, T-D, who are you? What are you about? T-D: [laughing] So, I am an Olorisha of the Afro-Cuban Lucumí tradition, initiated to the Orisha Ochún. I was ordained in Cuba in 1999. I live in Los Angeles, California. I'm a mother of two little boys. I'm a widow. I have a lot going on. And I've enjoyed making spiritual baths, which was one of the first things that I learned, one of the first things that many of us learn in the religion. And I've been doing that for about 20 years now, and I just recently began to sell a dried spiritual bath utilizing the herbs that we use in Orisha worship, in Lucumí Afro-Cuban Orisha worship that pertain to Ochún, so it's an Ochún bath. And I'm really excited about it, I love making it, I love working with the herbs, and it's a lifelong learning process for me. ANDREW: Mmmhmm, yeah, it's awesome. I think we need to definitely talk about the herbs but the first question that I want to kind of start with us talking about is, who is Ochún? T-D: [laughing] ANDREW: Right? And I ask this because, you know, I had David Sosa on a while back, and we talked -- T-D: Mmmhmm, mmmhmm, my dear friend. ANDREW: Local human. And, I think it's really important because I think Ochún is, possibly from what I see, one of the most popular of the Orishas, and yet so much of what I see, in general conversation from, you know, people outside of the tradition doesn't often jive very well with my understanding of her from a traditional context at all. T-D: Right. ANDREW: And even in the traditional context, you know, I mean, some of my elders basically say, well she's kind of unknowable. T-D: Right. And she's a deeply misunderstood Orisha. ANDREW: Right! T-D: She's very popular and well loved, probably because of her beauty and because of her dominion over some of the aspects of life that obviously all of us are striving to attain or to enjoy. ANDREW: Mmmhmm. T-D: But she is deeply misunderstood. So -- And she means different things, probably, to different people, even among initiates. ANDREW: Yeah. T-D: I see Ochún as elegance and beauty, but maybe not necessarily in the most apparent ways or in the most superficial ways. And I definitely see Orisha as working through other people. So Ochún for me is a motherly figure -- ANDREW: Mmmhmm. T-D: And she's forgiving and she's understanding and she's compassion, but she also can be stern, and she also can teach us very difficult lessons. And she also demands respect. And she demands regard for the counsel that she gives us, you know. ANDREW: Mmmhmm. T-D: So, in some ways I always say, you know, I'm a little bit afraid of Ochún. I'm dedicated to her, I'm crowned to her, I love her, obviously, I've dedicated my life to Ochún, and she's blessed my life in many many ways. But Ochún is not an easy crown to wear. People make lots of assumptions about her children and things of that nature. Ochún is a very complex Orisha. On, you know, in the most basic terms, you know, we can say Ochún is a healer, Ochún heals with fresh water, Ochún also makes herbal decoctions, Ochún is a diplomat, Ochún is an astute businesswoman, Ochún is multifaceted, she's an incredible cook, she's a wonderful and caring mother, she's a wonderful mate, there are many aspects of Ochún. And obviously, then there is the connective part of Ochún in terms of sparking human connection between one another. ANDREW: Mmmhmm. T-D: One of the praise, Oríkìs or praise names for my aspect of Ochún, is Oneabede. A bede is that long brass needle that's used to sew nets. So we can say she knits together the fabric of families ... ANDREW: Mmmhmm. T-D: Or the web of societies. We could just go on and on. ANDREW: For sure, yeah. And I think about Ochún in my life, who's been, ever since I, ever since I sort of entered the religion in about 2000, she's been a constant. Right? She's always standing up for me, always there to help me, you know, always showing up when I need something ... T-D: And she's a fighter! [laughing] ANDREW: She is a fighter, right? And like you said, she demands her respect in a way that is unquestionable, you know? So before we do a ... what's called a reading of entry ... T-D: Mmmhmm. ANDREW: Which is before you get crowned, there's a reading that gets done to make sure that everything's good for the ceremony space, right? T-D: Right. Mmmhmm. ANDREW: Has everything been covered, do we have all the right things, is there some unexpected problem? T-D: Right. Some call it the vista or the obo de entrada, or, you know. ANDREW: Yeah. And Ochún, in my reading of entry, showed up and says, "So no matter who's marked as your mother this weekend, I'm always your mother." T-D: Right. ANDREW: And I was like, "That's right, Mom, you are!" You know? And that continues. And it's definitely that respect piece, but, it's also ... There's a profound intelligence? T-D: Absolutely. ANDREW: That I think that gets overlooked ... T-D: Absolutely. ANDREW: And that diplomat, that business piece, that ... T-D: That social intelligence, that's really really important. You know? ANDREW: Yeah. Mmmhmm. T-D: It's really important. And the whole piece of love, love goddess, and that whole thing, procreation, productivity, which she kind of dovetails, obviously, with our supreme, you know, Obatala, is, I think that the element that has to do with love speaks to self-love. And self-acceptance. And self-forgiveness. As much as anything else. It's not always a sexual kind of thing, you know, and attracting the things that we want to -- Ochún has a lot to do with attraction, Ochún has a lot to do with transformation, but it's not always in a sexual way. It can sometimes be and obviously it is, but those aren't the only, you know, avenues for that element in our lives. ANDREW: Yeah, for sure. So, I think I'm just going to have to collect a bunch of children of Ochún speaking about her nature over time on this podcast. T-D: And I'm sure you'll get 50 different answers -- ANDREW: Yeah! T-D: From 50 different children of Ochún, but -- ANDREW: It will be beautiful. T-D: I want to speak to this thing that you talked about, this whole thing of aché, that we know that we're born with aché, right, and so this aché is this divine, if you want to call it grace, if you want to call it energy, you know, different people call it different things, we're all born with this, right, and we're all made up of this. And some of Vershare's writings even allude to the idea that Oldumare is aché, that God Almighty is aché. We're born with it. And we have our gifts and our grace and our energy, but then to actually be ordained as a priest is to receive the specific aché that we require in order for us to ethically fulfill our destinies, right? That's this idea that we chose a path, that we chose a destiny before we were born. And that we require this aché of these Orishas that we receive aché of, in order to be whole, in a sense, right? Or to be fully aligned with our higher selves. ANDREW: Mmmhmm. T-D: And so when we receive this aché, this aché that we receive is not the same aché that we're born with. It's really an amplification, an augmentation of what we have. And then it's almost like, you know Willy talks about this in some of his classes, the oreate ritual specialist Miguel Ramos, talks about this idea that it's almost like you have a bank account deposited of aché. ANDREW: Mmm. T-D: And then you receive, you know, augmentations to that from ceremonies or initiations or additional rites that you undergo. ANDREW: Mmmhmm. T-D: And then your behavior and your character help to augment that or to multiply that or deplete it depending on how we conduct ourselves. So those are kind of some avenues or some conversations about aché, and then obviously we have the aché of our, of the Orisha to whom we're primarily dedicated as priests. ANDREW: Mmmhmm. T-D: And I think we work for the rest of our lives to kind of develop that and grow that thing, and -- ANDREW: Yeah. And I think there's one other piece that sort of falls into that as well, right? Is that we are initiated, and we receive the energy, the aché -- T-D: Mmmhmm. ANDREW: The grace, right? T-D: Mmmhmm. ANDREW: The connection to the spirit and so on, right? T-D: Yes. ANDREW: But we also are initiated into a lineage. T-D: Absolutely! ANDREW: And we are connected to this line of people and Orishas and aché that go back -- T-D: Absolutely. ANDREW: As far as we can remember. T-D: Absolutely. Absolutely. That's essential. ANDREW: And I think that this notion of, or this practice of, being initiated into a lineage also adds to it, because ... T-D: Absolutely. ANDREW: It gives us permission, or some people might use the word license -- T-D: Right, licencia. Mmmhmm. ANDREW: To work with these spirits, and it forms a contract or a ... you know, most often talked about, like a family bond, right? T-D: Right. ANDREW: Because we use the word egun, which means ancestors ... T-D: Right. ANDREW: And when we use the word egun, we mean our ancestors by blood, our family ... T-D: Right. ANDREW: And our ancestors by initiations -- T-D: Or by lineage, right. ANDREW: And I think that this conjunction of the two forces, right? The energy that we receive directly from people, from our ceremonies, and from the spirits themselves, and that energy that we can access and that we can work with through working with these ancestors, I think that that combination really is where the magic happens? T-D: Absolutely. I agree with you wholeheartedly, cause you're calling on that energy. ANDREW: Yeah! T-D: You're calling on that energy before we do anything, right? ANDREW: Yeah. T-D: When we recite our mouba, we're literally praising God and the deities and the elements and we're literally calling the names ... ANDREW: Mmmhmm. T-D: Of those who came before us, of our lineage, and we're calling the names of those exalted priests who existed before us even from outside of our lineage ... ANDREW: Mmmhmm. T-D: I think that's essential. And yeah, that absolutely speaks to that concept of ritual license. That aché that you receive as an initiate endows you with something that will develop in time with training into ritual license and the ability to perform and to function as a priest on behalf of yourself, on behalf of others, to benefit the community, absolutely. And that is an essential piece, and it speaks to what the Cubans call fundamento, because if you don't have that you're just kind of floundering, fooling around, and this is not that type of thing. And there are absolutely different spiritual traditions and there are people who are born with deep gifts ... ANDREW: Mmmhmm. T-D: With deep connections to their own ancestors, to their own spirit guides. There are people who have to do little to no work to have the things that they do flourish, but Orisha worship is different from those types of systems and traditions. ANDREW: Mmmhmm. T-D: This is absolutely a communal system that requires ordination, initiation, training at the foot of elders, recognition by one's elders. As I said, this is definitely a learning path ... ANDREW: Mmmhmm. T-D: That one sets their foot upon and they will continue to learn for the rest of their lives. ANDREW: True. T-D: My mother in law lives with me. She's 85, she just celebrated her 60th year as an Olorisha of Ochún, she has crowned many godchildren, she's a wonderful Diloggún diviner, she is an incredibly knowledgeable herbalist, she's just an all-around Olocha of the type that was fairly common 60 years ago when people were kind of all living on that island in that environment and didn't have, didn't function or have to deal with some of the stresses of a modern life in a large place, you know? And she still reads, and she still studies, and she still learns, and she still asks questions in rituals. And she may be one of the -- she's definitely one of the most knowledgeable people, you know, functionally, in terms of ritual competence, that I know. And so it just tells me, this is a learning path, we're on this path for life. ANDREW: Yeah, I think it's, I think that it's really a significant point, right? I think that a lot of people have a notion about spirituality, whether it's this path or another path, and I know when I was younger I had this notion, that we will at some point arrive. T-D: Right. ANDREW: At some point we will get there, and we will be, we will know the things, we'll stop having questions ... T-D: Right. ANDREW: We'll stop whatever, right? And, you know, I mean, I look at the elders that I know, and they're always still asking questions, right? T-D: Right. ANDREW: And it's one of those things that the more I learn about these traditions, and even in my Western mystery stuff, even though I decided to walk away from that path ... T-D: Mmmhmm. ANDREW: I could see how much more there was to learn, and that it was infinite, right? T-D: Right. ANDREW: And I think that it's really important to cultivate that sort of curiosity and engagement, right? T-D: Absolutely. ANDREW: I also think it's interesting, cause you brought up, and I want to kind of talk about this for a bit, before we lose it in the flow of the conversation -- T-D: Okay. ANDREW: That distinction between like Espiritismo, and muertos, like spirits of the dead, right? T-D: Mmmhmm. ANDREW: And, you know, what we would call, what more people might call spirit guides ... T-D: Right. ANDREW: You know, guardian angels? T-D: Mmmhmm. ANDREW: You know, in the sense of like, some spirit that looks over us, and, what do you see as the role of those spirits in your life or in people's lives in general? Because I often see people conflate them with Orisha or with other things, and I'm curious. T-D: Right. And it's -- it's easy to do, especially when we are in a tradition where many of us, and most of our elders even, will use the word egun for everything, right? Anything that's dead is egun. ANDREW: Right. T-D: So, even if they're talking about spirit guides, which we would say muertos, or guías, or protectores, or even ... ANDREW: Ada Orun. T-D: Right, Ada Orun, or even Ada Orun, it's easy to flip that tongue. ANDREW: Yeah. T-D: But yeah. Or even where they, some people talk about -- sorry -- even they use the word egun, people who are practitioners of Palo. So it just kind of gets thrown across the board. So it's -- I think it's important for us to be able to kind of designate or understand the differences, so we don't have this kind of totally crucado kind of crossed up situation, but I think that they are important. I think that a lot of that kind of -- I don't want to call it confusion, but kind of mixed up language, comes from the fact that we are ... Our religious practices and our spiritual practices descend from multiple ethnic groups of people that intermixed together in one geographic location, and so we have people practicing multiple spiritual traditions, you know, again, there's a creolization, it's not just strictly this Yoruba thing, because this is not just a Yoruba religion any more, in terms of the ethnic group. And it hasn't -- it hadn't been that way in a long time in Cuba or Brazil either. And now even more so, it is not, because we've got this kind of universal religion now, where people of different races and ethnic groups and backgrounds are practicing these religions, so. Excuse me. But back to your actual question was, I think that spirit guides have a very important place, I think Espiritismo has an important place in the overall practice of Afro-Cuban religion, because I believe that it fills in some gaps that were missing, and this is one school of thought. There are many schools of thought; there are others who will disagree. And I don't necessarily think -- I don't think it's filling in gaps that have to do with egun or ancestral practices, the more I learn about traditional Yoruba religion and the more that I study and read about that, it seems almost like Espiritismo tape kind of fills in some gaps that are missing with Egbe worship, that did not transfer to the New World. ANDREW: Mmmhmm. T-D: And so, oftentimes you'll hear Yoruba scholars describe Egbe as Yoruba Spiritism. ANDREW: Yeah. T-D: Because Egbe is not an Orisha, and it's not one entity, it's like a group of entities that exist in the spiritual realm, and so the more I read of that and learn of that, I see, or I believe, I'm led to believe, that perhaps this filled in a bit of a gap where that was concerned. But I think for all of us, I mean, I come from a house where a lot of Espiritismo is practiced. My elders are espiritistas. I was married to a Palero and espiritista, and I just see how it functions in the life. Once people become developed, it can just help you in so many ways, just in so many little practical ways. But it is a separate practice from Orisha. ANDREW: Mmmhmm. T-D: And so I think what often happens is, people who are outside of the religion, who do not have elders, are being led by spirit guides to do things, and they believe that they are interacting with Orisha. And, I just don't think that's the case. So all these girls that you see on Instagram and other forms of social media building these empty altars, altar tables, or they're calling them shrines, that don't have any Orisha in them with all kinds of pretty little knick-knacks and afefedes and mirrors and compacts and things -- those are likely -- I believe the impetus for that is a spirit guide that's pushing them to do that. But they just think it's Ochún. Or they think it's Yamaya. And so they've set up their altar, you know. That's what they really believe, and I think that push is so strong coming from those guides that it's pushing them to do something and they are doing something. And these dreams that they have that they're ... ANDREW: Mmm. T-D: You know, that they may be misinterpreting cause they don't have elders to guide them. ANDREW: Well, and I think that there's an important sort of magical concept at play that people lose track of, or they don't like it. T-D: Okay. Mmmhmm. ANDREW: Which is, when spirit speaks to us, right? They can only speak to us through our conscious and our unconscious, right? And so that communication is very easily flavored. Right? T-D: Okay. [nodding] ANDREW: By our ideas, by our hopes, by our aesthetics ... T-D: Right. ANDREW: By our concepts. And this ... The capacity to differentiate between different kinds of spirits or, you know, whatever, right? T-D: Mmmhmm. ANDREW: I think is very difficult. And if a spirit shows up and wants to help you, and you're like, "Please be Ochún, please be Ochún, please be Ochún," and it's ... It's kind of in that neighborhood, you know? T-D: Mmmhmm. ANDREW: Like, overlaps with that energy, of course that communication is going to get covered with that, right? T-D: Right. ANDREW: You know, it's gonna, it's gonna get clothed in those symbols and ideas, right? T-D: Mmmhmm. ANDREW: You know? And I think that it's really interesting to sort of try and understand how those communications and how those things happen, right? T-D: It does. ANDREW: And I think sometimes it's an ego piece. Sometimes it's an unconscious piece. Sometimes it's ... You know, sometimes it comes from the spirit too, right? T-D: Mmmhmm. ANDREW: You know? But I think that it's really important for people who are exploring in directions like this to, you know, to try and be clear about it and to, you know, if you're looking to go in those directions, you know, considering looking for more traditional verification, you know? T-D: Mmmhmm. ANDREW: Because that's gonna be way more fruitful over time. T-D: Yeah. ANDREW: You know? Because the challenge that I've noticed with a lot of people is, they get pulled into something and into working in a direction, and then they don't know where to go, and the spirit can't guide them further, and so then they get stuck and their life becomes, you know, not what they hoped it would be. T-D: Right. ANDREW: Or they have problems, and not because the spirit's necessarily making them, but because it can't take them anywhere else ... T-D: Right. ANDREW: And then, and then they become disenfranchised, or bitter, or they get deeper issues kind of emerging from that, right? T-D: Yeah. An important factor, I think, is [sigh]. I don't want to throw this all on millennials this or millennials that. ANDREW: Uh huh. T-D: But, you know, different age cohorts do have some tendencies and so we may see a lot of this with millennials not wanting to, you know, follow the rules, or have guides, or submit themselves to elders, or this kind of thing, but I think it's important to just kind of lay it out on the line, that, number one, one factor that isn't necessarily specific to millennials, is that you have people who are kind of -- they may be rejecting, or seeking something outside of the Abrahamic traditions, and so when they find other religions or Afro-Caribbean spirituality, they may be operating under the misconception that because there's not a church per se, that these are not structured religions that have orthodoxy. ANDREW: Right. T-D: And so that can create conflict and a lot of problems. Because these are very structured religions. There is orthodoxy. They are hierarchical religions. They are oral traditions, largely, even though now we have more learning resources that are not ... ANDREW: I think that that is actually, you know, I mean, I'm, I don't know about the millennialness of it ... T-D: Mmmhmm. ANDREW: I mean, you know, I think that the issues ... Every generation has their own ideas, right? T-D: Right. ANDREW: But I certainly think that being ... Everybody in this day and age who has access to the Internet, right? has ideas. T-D: Mmmhmm, mmmhmm. ANDREW: And the amount of people who show up in my orbit who have sort of notions that they've picked up from somewhere that are really quite not traditional, you know? I think it's because of this flood of information ... T-D: There is. ANDREW: And people want it, and so much of it is ... It's kind of half-baked, you know? T-D: It is. There's a lot of incorrect. I mean there are people ... You can go on YouTube and there are people who have tens of thousands of followers who are not giving accurate information. Or who are giving information or who have a perception or what they're voicing is really not orthodox or traditional at all. And so then when someone comes in contact with people who are part of the community and they encounter that orthodoxy, it might throw them off. ANDREW: Mmmhmm. T-D: Or even put them off. You know? ANDREW: Right. T-D: Which I think is unfortunate. But I think, you know, there are some aspects of the religion that you can access, just in terms of historical facts, you know? This started out, you know, as an imperial religion that was a part of a culture that believed in the divine right of kings and that the kings are direct descendants of Orisha ... ANDREW: Sure. T-D: And, you know, us, we're, our practice comes largely from the Oyo empire, and so there's lots of structure and strictures and all that kind of thing that exists. It's not just this free-flowing kind of whatever you feel type of thing. And so, I think it's important for people to kind of at least try to learn a little bit about the historical stuff. Just take bites of it, you know? ANDREW: Mmmhmm. T-D: Cause that will kind of put you in a better place, really, than just watching lots of YouTube videos ... ANDREW: Mmmhmm. T-D: And things like that. ANDREW: I also think it's interesting because I think that a lot of people who I run into who come into the tradition or are considering coming into the tradition, right, or are coming for a reading or something ... T-D: Mmmhmm. ANDREW: I feel like a lot of them don't know what to do with the reading that they get, right? T-D: Mmmhmm, got it. ANDREW: Someone shows up and they get a reading, and they come in a sign, and it comes out that everything's firm and solid and good, you know? T-D: [laughs] Mmm. ANDREW: And then the reader's like, "Well, the Orishas love you, hugs and kisses, see you later," and they're like, "What do you mean?" T-D: Wow. ANDREW: "What do you mean?" Right? "What do you mean?" T-D: Right. That's problematic too, obviously. ANDREW: Right? T-D: Because those Odos, those divination pattern, which we call Odu, have inherent messages in them. ANDREW: Sure. T-D: And some of them admonish the diviner to speak the more -- I don't want to say negative, but negative side of the pattern, and to give warnings, and --it's a message -- ANDREW: Mmmhmm. T-D: That they're kind of -- As a priest, you know, we have Ita, which are a number of life divinations, but it's the same concept as a road map. One may be temporary while the other may be permanent ... ANDREW: Mmmhmm. T-D: But it's still a road map for you to follow for your life, and so even if it's just dealing with a specific point in time and a specific situation, I think, you know, obviously, a lot of people are performing readings [sigh] who just are not conscientious ... ANDREW: Mmmhmm. T-D: About the work that they're doing. ANDREW: Right. T-D: It's not just about marking an ebbó or an offering or a sacrifice that you can then charge the person for you to perform. You're really -- It's a connection, right? Between the Ori of the person who's come to receive the reading and the diviner connecting with Elegua, and giving them this message that they require, and so I think that is really important in terms of fully exploring and investigating the message of the Odu that's fallen, and taking the time with someone who is not in the religion. You know? When someone comes for a first reading, it's really important to explain to them what that's going to involve, and what it means, and what to expect, on top of what the actual message is going to be. ANDREW: Mmmhmm. T-D: Because as we know, it's easier to lose the blessings that are being foretold than it is to convert negativity that's being expected into blessings. ANDREW: Mmmhmm. T-D: You know, so, it's a highly responsible task to perform a reading for someone, whether it's a Diloggún reading or a spiritual reading. It's a highly responsible task and the person who's performing that reading needs to take it seriously and they need to convey that level of seriousness and sacredness to the person who's coming to receive the reading. It's not a game or a parlor trick. It's a connection with ... to the divine. ANDREW: Mmmhmm. Yeah. And it's also not ... although it has the appearance of fortunetelling sometimes ... T-D: Mmmhmm. ANDREW: Like, "hey, watch for this thing ..." T-D: Right. [nodding] ANDREW: It's also not fortunetelling, right? T-D: And the diviner needs to make that clear, also. You know, that this is not fortunetelling. ANDREW: Mmmhmm. And it's also ... The advice about what you don't do is SO important and ... T-D: It really is. ANDREW: Or maybe more important than what you do ... I mean … They're both important, right? T-D: Right. ANDREW: And this notion of the way in which taboos are handed out, right? T-D: Mmmhmm. ANDREW: "Don't do this thing, don't do that thing." I think is something that is also very complicated for people sometimes. T-D: It is. ANDREW: Especially because sometimes those connections are super obvious, right? T-D: Right. ANDREW: Like, you came in a sign that says your head's not very clear, don't drink. Right? T-D: Right. ANDREW: Eh, it's easy to understand, right? T-D: Right. ANDREW: But some of the other connections are less clear, right? T-D: Right. ANDREW: And ... and yet ... they still need to be abided with, and that's sort of ... T-D: Right. And so maybe the diviner could help that person ... you know, kind of give them some insights into it. You may not hit on the exact thing, that that taboo or prohibition pertains to for that person, but it gets them thinking along those lines. ANDREW: Mmmhmm. T-D: You know. Don't eat this thing. You know, maybe that thing would make you sick, or maybe when you go to have it, you're going to be at someone's house and it's not going to be well-prepared ... ANDREW: Right. T-D: Or maybe you'll need to make that as an offering one day and it'll save you so it's more of a medicine. ANDREW: Mmmhmm. T-D: You've got to kind of open the way that person perceives that prohibition. So that they can think about it differently than just, "I can't have that thing." ANDREW: Mmmhmm. T-D: You know. ANDREW: People don't like to be told they can't have things. T-D: Right. None of us like that, you know? [laughs] ANDREW: So, every time you sit on the mat, be like, "Please don't take away something I like." T-D: Don't take away. Any time you receive another Orisha with any ties, like "oh, don't tell me I can't have this thing." ANDREW: Exactly. T-D: But you know that it's important to observe those taboos because you've chosen this path as your life path ... ANDREW: Mmmhmm. T-D: But someone who's just going to receive a reading may not understand that, you know, for the next 30 days, or depending on, you know, how you were taught, the next however long amount of time, while this Odu, while the energy of this divination pattern is around you, you need to, you know, refrain from doing this thing or that thing or engaging in this or that or eating this or that. ANDREW: Yeah. For sure. So, I'm going to switch topics a little bit here ... T-D: Okay. ANDREW: Kind of, kind of but not ... T-D: Uh oh! [laughs] ANDREW: So, we've been talking about aché, right? T-D: Mmmhmm. ANDREW: And, one of the things that I've found fascinating was watching the way in which you described your process around making these new baths that you're offering. Right? T-D: Okay. Yes. ANDREW: You know? And, I mean, can you talk about it, because I think that the commitments to putting your energy into it, and the hands-on-ness of it, I think is fascinating to me, and so I'd love you to share some of that for people to understand. T-D: Oh my goodness. So, I think it's -- There's obviously a little -- This is an unorthodox type of bath, the first bath that I'm offering as an Ochún bath. It's unorthodox in the sense that most people here in the States who practice the religion perceive Orisha herbs as just the herbs we use to consecrate heads and consecrate Orisha. And they're always fresh herbs that we work with. And the herbs that we use for spiritual baths -- Obviously people in Florida and other places, they may use fresh herbs. But in the Afro-Cuban practice, there are some herbs that get boiled. Plenty of herbs are dried, it's fairly common. It's very common for Paleros to work with dry herbs. And so, I'm using -- I'm making a dried herbal product. I'm growing most of the herbs myself. I'm washing them and drying them and confecting the baths with them. And because I'm a one woman show and I'm just starting to do this, I'm labeling all of my tea tins myself by hand, and some of the labels I kind of make, they're not really labels, I wanted it to look a certain way, and I wanted it to have kind of a vintage apothecary look, and I wanted there to be some texture. So I ended up doing a lot more kind of physical hands on -- ANDREW: Cause-- T-D: Crafting, then I had originally thought. ANDREW: You've skipped over a little bit, though, right? T-D: I skipped over a lot! ANDREW: You're growing the herbs -- T-D: [laughing] Yes. ANDREW: And then you're picking them -- T-D: Right. ANDREW: And then you're hand washing them all, right? T-D: Yes, and I'm drying them. ANDREW: And then you're hand drying them -- T-D: Right. ANDREW: So that they can them be properly dried -- T-D: Right. ANDREW: And cured. T-D: Right. Cause I want them to be properly dried and cured. ANDREW: And not like moldy and disgusting, right? T-D: Right. I didn't want them to be moldy or disgusting, and yes, I live in southern California where it's pretty dry, so it's not like I have a big issue with anything getting moldy or disgusting. ANDREW: Yeah. T-D: And I have some nice drying racks that I hang that are like the ones that people might use for tea or other herbs. And in terms of the confection of the baths, it's kind of an unorthodox thing cause there's a lot of praying and singing and not the same exact kind of ora that would go on to make omearo, but some of that, you know, a good little bit of that. There's not divining going on but there was some divining going on in terms of what my ingredients would be for the bath -- ANDREW: Mmmhmm. T-D: And there was consulting with my own elders about that. So -- And I do have some really good teachers. As I've mentioned, my mother in law, my madrina, I also work with my Olua here in Los Angeles who is actually a sustainable gardening specialist, and my other Olua teacher, Luis Marín who lives in Maryland who is an expert herbalist, and he practices achéche, traditional Yoruba Ifa but he's initiated to Elegua in the Lucumí system. So I do have some really knowledgeable teachers to confer with. But in terms of the actual process of it, yes, I'm [laughing] -- you know, I'm making it the way that I would make a bath for someone who came to me to make a bath for them. So, and I sing when I work. I sing when I do a limpieza or, you know, spiritually clean the house. And this is an Ochún bath, so I sing Ochún songs and I sing Osayin songs. ANDREW: Mmmhmm. And -- T-D: And I open my work, I actually stand in front of my shrine and I ring my Ochún bell and I recite oríkì and I pray to her before I start my work, and then when I'm finished making the batch of the bath, and I do small batches, when I'm finished I go back and I pray to her and I sing, and I recite oríkì and prayer and once it's done I light a candle and I sing some more -- ANDREW: Mmmhmm. T-D: And I leave it there at the foot of my Ochún. ANDREW: Yeah. T-D: And sometimes I put my Ochún sopera on top of it! [laughs] ANDREW: [laughs] Just put a little extra of that energy in there! T-D: Yes! ANDREW: Fire it up a little further? T-D: I do. ANDREW: Yeah. T-D: I do, and so, and I want to say, you know, this concept of kind of making magical things, you know, I feel, obviously that the power is inherent in the herbs that I'm working with and inherent in the Orishas and I just have an unwavering faith in that. ANDREW: Mmm. T-D: So, and I have an unwavering faith in my elders and in my lineage and that they put Ochún in my head and they did it properly and they've taught me, and I've conferred with them and that I'm doing this properly, and I do it with a lot of love, honestly. ANDREW: Mmmhmm. T-D: A lot of love, and heart, and I say a lot of prayers for -- I'm so emotional, you have to forgive me -- for the people who would use this bath, you know, I pray for them, that they should have good health and that they should have happiness and love in their lives and that they should love themselves and accept themselves, and that they should have prosperity and that goodness should flow to them and to their lives. And so I do a lot of that because that's what I know and that's what I've seen when rituals are performed for me, people pray for me, people pray for my children, and so I pray for the benefit of anyone who would touch anything that I put my hands on, you know. ANDREW: Mmmhmm. Yeah. And I think that, to me, there's that, what I hear and see and what you're talking about is this sort of both the depth of experience, the history of the tradition, right? T-D: Mmmhmm. ANDREW: And that sort of connection to aché and to lineage, right? And I think that, you know, it's -- it goes even beyond just some of those things, right, because it's also your aché, right? T-D: Right. ANDREW: Like you can accomplish these things partly because it's in you from your destiny to do so as well, right? T-D: Right. ANDREW: Like not everybody is meant to be an Ochunista or, you know, an herbalist, or whatever, right? T-D: Mmmhmm. ANDREW: We all have different graces and strengths, and I think that that capacity and attention is so wonderful, right? And, you know, how many, if you count the growing of the plants, how long is it from start to finish before one of these comes out in a tin, right? It's a long time. T-D: It's a long time, it is. And I think that from the beginning, my godmother did always kind of try to motivate me to learn about the plants -- ANDREW: Mmmhmm. T-D: And I said, "oh, it's just too much, it's overwhelming, ah," you know, I like to make the baths, I'll use this, what I know, I'll use that ... But as, over time, you know, little by little, you look, and you have more and more plants, and then I married a guy who was a Palero, so there were more and more plants. ANDREW: Mmmhmm. T-D: So you just learn, you don't take it all in one big bite, or one big gulp. ANDREW: Right. T-D: There's no way you can do it! And I don't know the Oju this is associated with, it's “bit by bit we eat the head of the rat,” you know ... ANDREW: Right. T-D: It's this idea, the head of the rat has very little sharp bones in it. And so if you're gonna eat that meat, which is a delicacy, right, for our ancestors, our spiritual ancestors, you have to eat it very very carefully. And so, it's a very slow and kind of careful process. And I don't perceive myself as being particularly knowledgeable. I perceive myself honestly as a rank and file Olorisha and I've been very fortunate and blessed to have some really knowledgeable elders who have shared with me and I will spend the rest of my life learning more about herbs and growing herbs and continuing to take classes, continuing to ask questions of other people older than me and younger than me. And maybe one day, you know, 30 years from now, I'll be an Oceanista ... ANDREW: Uh huh. T-D: But, you know, this project, if you will, is just an incredible, an extraordinary opportunity for me, and I love it, and [shrugs], that's all I can say, I love it, and I wish I had begun with more gusto 20 years ago and not felt ... not allowed it to make me feel so overwhelmed. And I also find it interesting that I've received lots of comments and feedback, you know, from elders who are espiritistas, who say "Oh, al fin tu estás haciendo trabajo de tu muerta principal," like, you know, "finally you're doing this work that, you know, that your primary muerta's been trying to get you to do for years and years." And, you know, I have been told of her, and I knew of her, but I didn't really understand that she was an herbalist. I saw her working over a pot, you know, a caldero, kind of bent over, sitting down, and her hands are moving. You know? And I would say that. And my madrino was like, "What did you think she was doing?" [laughs] "What did you think she was working on over that pot?" ANDREW: [laughing] Yeah. T-D: You know, she was working with barks, and bottles, and ojas, and herbs, and leaves, and stuff, you know. ANDREW: Yeah. T-D: But it's a process and I think it comes to us when we're ready. When we're ready for it and open to it. ANDREW: Yeah. T-D: And sometimes it has come to us little by little over time and we didn't even realize it and then we looked up and said, "Wow! Where did all these doggone plants come from?" ANDREW: Exactly, right? Yeah. Yeah. I think that -- I think that that idea of -- Back to this question about guides and spirits that walk with us, you know? T-D: Yes! ANDREW: I mean, I think that figuring out how to live with that, and work with them, I think is so important, you know? T-D: It's essential but it is so hard for some of us. ANDREW: Yeah. T-D: And I'm gonna tell you this, my background, I'm an African American, my family is from New Orleans, so saints and Catholicism and all that was not foreign to me, but many African American people or others who have or Anglo Americans or others who come from a Protestant background, it seems very Catholic to them, and not only that, but it seems very Christian to those who may be looking for something outside of Christianity. And so, until people dig a little bit deeper and really understand about Espiritismo and that they're different and also different ways of working with these spirits, that's when you kind of get that depth or get that connection that, you know, this is something that's really important to me, and when you are surrounded by, or find yourself in the company of people who are really developed spiritually, and how it helps their lives and how it can help your life ... ANDREW: Mmmhmm. T-D: That's when you start to see the importance of that. And when you -- or the importance just of being able to distinguish between your own fears, or your own ego, and messages that are being sent to you from your guides, you know -- ANDREW: Mmmhmm. T-D: Is hard. And I can say, I lost my husband almost six years ago to cancer. I have struggled financially with two young children, living in a city where the schools were great when I was a child but aren't so great now and have to pay tuition for my kids and stuff like that, and make choices that I didn't think I'd have to make because I didn't think I'd be alone. You know, there's a big difference between two incomes and one income. ANDREW: Yes. T-D: And I will give the credit 100 percent to my muertos, my spirit guides, my protectors, and my ancestors that even gave me the idea to sell these baths or make them available to the public, something that I love to do -- ANDREW: Sure. T-D: And that I have been doing for years, and it never occurred to me, and I have been told, Andrew, so many times, you know, "You're going to have a business, you're going to do well at a business one day." Well, I'm not there doing well yet, you know, I'm just starting, but my parents were small business owners -- ANDREW: Yeah. T-D: And I just never -- and we had a very comfortable life, but I just -- the only thing I was really good at was food things, and food businesses are very expensive and rigorous and require a tremendous amount of capital -- ANDREW: Mmmhmm. T-D: And I just couldn't see that. And so when this idea came to me -- This idea didn't come to me! The idea was given to me. It was a blessing that was given to me. And that just blows me away. ANDREW: Well, you know, from a certain perspective, right? T-D: Mmmhmm. ANDREW: So, I started working as a card reader, 15, almost 16 years ago. T-D: Mmmhmm. ANDREW: You know, I quit my job in advertising and started ... T-D: Wow! ANDREW: Reading cards for a living, right? T-D: Okay. ANDREW: And I decided that I wanted to make a product. T-D: Mmmhmm, mmmhmm. ANDREW: And so I started making herbal baths. And this line of baths that I make now. T-D: Mmmhmm. ANDREW: And, you know, I got them in some stores around town, and I did some things with it, and in some ways, that starting point is the starting point of the whole store I have now, where I have a full store now, right? T-D: Mmmhmm. ANDREW: So, you know, and it comes from that listening in, and leaning in, and being like, "All right, spirits, I can do these things. Oh yeah, I can work on that," and, you know... T-D: Mmmhmm. ANDREW: What comes from that listening, in my experience, especially if we're faithful to it, right? Over time-- T-D: Mmmhmm. ANDREW: Is everything, everything comes from there, right? T-D: Mmmhmm. ANDREW: And I think about, when I show up at the shop, or tonight's Saturday and we're recording and I'm gonna lock up later and go home -- T-D: Mmmhmm. ANDREW: I always lock up everything and sit here and check in with all my guides and my spirits and I thank them for this, and I thank the Orishas when I pray to them every day, because all of this comes from their guidance and their influence, and my work, but -- T-D: And it's a blessing. It's a degree of freedom for your family. ANDREW: Mmmhmm. T-D: And when I was a young person, a teenager, I just saw the work, you know, my parents did. And they had multiple small business endeavors, and they were successful, but there was a lot of work. ANDREW: Sure. T-D: But working for yourself, there's just a degree of freedom, a space for personal expression and creativity, independence -- ANDREW: Mmmhmm. T-D: That you'll never find in corporate America or corporate Canada or in the West, you know ... ANDREW: Corporate anything, right? T-D: Anywhere, you're just not gonna find that. ANDREW: It's just corporate Earth now. Isn't that the deal? T-D: Right. That's what it is, right, globalization. But I just, if I could develop this in time, you know, in a few years or whatever, into something that I could do full time and have a small shop and grow some herbs on the roof, or in the back, or whatever, that is my ultimate goal, and to be able to kind of be there for my kids, and they can come into the shop and go in the back and do their homework and help me carry stuff or whatever ... ANDREW: Yeah. T-D: That's a beautiful way of life, because it allows you to engage in something that you value and something that you can share with the community, that you can share with others, and it allows you to continue to grow -- ANDREW: Mmmhmm. T-D: As a priest, and to grow in your spiritual practice and your knowledge and ultimately, you'll be able to pass that on to other people as well. So yes, definitely, you know, you're someone who I see as a shining example, you know, honestly. ANDREW: Well. Thank you. Well. So, let's see if people want to go and check out your stuff, they should know where to find you. T-D: Oh, yes! ANDREW: Where are you hiding out on the web there, T-D? T-D: So, I have a website, it's https://www.spiritualbathtea.com, and you can order the bath there. It's an Ochún bath for love and prosperity. It has a lot of beautiful things in it. And Andrew, I'll send you one, I know that you're a master bath maker but I'm gonna send you my bath, because it's just like wine, maybe you have your vineyard and I have my vineyard ... ANDREW: Oh yeah, for sure. T-D: You know, but we can enjoy each other's products of one another's labors ... ANDREW: Absolutely. T-D: And I'll definitely be sending you a bath. ANDREW: Super. I can't wait! T-D: But yes, it's got at least five of Ochún's herbs in it, it has more, and it's got some other really nice elements in it that ... it's got three different types of sandalwood in it, it smells really lovely, and it's a really beautiful bath and I've received a lot of really positive feedback about the bath from users, and I love making it and I put a lot of love and care into it. And it definitely gives a new meaning, and you know, the word art, or the word crafts, these have many different meanings, and what were the meanings, the original meanings, of, you know, these things. ANDREW: Well, you know what, the really funny thing is, you're kind of actually doing what the millennials are doing. T-D: I am? ANDREW: You are, cause I mean, what I see a lot in sort of the millennial culture, things that people see about that, is this return to hand crafted, to small batch, to stuff made with love, right? T-D: Mmmhmm. ANDREW: So you see these sort of various things, food wise, and you know, clothing wise and otherwise ... T-D: Right. ANDREW: That, they're not corporate, they're not mass-produced. T-D: Right. ANDREW: They come from people who have learned how to, you know, hand do things -- T-D: Right. ANDREW: In traditional ways or new ways. T-D: And this will never be mass-produced, ever. ANDREW: Yeah. T-D: It's just not that -- that's not my concept, it's not that kind of thing. So if I wake up tomorrow and you know, Amara la Negra or Beyoncé put me on their, you know, social media, there'll just be a back log, but the order will get filled, but you know, I might buy a couple of those labeling machines, to label my tins, [laughing] or you know, like I said, my dream is to be able to afford to buy 10,000 from China of those fancy tea tins that are already embossed and printed, but the bath is, it's always going to be something that is beautiful, that I'm going to put as much beauty and love and care into as I possibly can, and that my own hands have touched, because that's it, you know, that's where the magic is -- ANDREW: Yeah. T-D: It's multi-- it's multifaceted, right? It's got these different components. ANDREW: Mmmhmm. T-D: And so, you've got your spiritual license, your ritual license, your learning competencies, but it's also what you put into that thing, you know? ANDREW: Mmmhmm. T-D: There are lots of people who are well-trained, who are very knowledgeable, and who are duly ordained, who just throw some shit together. ANDREW: Mmmhmm. T-D: All day long. And I will never ever do that. Cause that's got a lot to do with personal integrity and accountability to Orisha, too! Why -- I mean, I'm going to try to make the most beautiful thing that I can if it has Ochún's name on it. And when I do my Obatala bath, it's gonna be the most incredible excellent thing that I could ever imagine. ANDREW: Yeah. Because I love Obatala, and he loves me, because he gave me a wonderful husband. You know, I just am always going to do the very best that I can. ANDREW: Mmmhmm. T-D: And to try to make something, and plus we want to please people, right? We want people to feel that their money is well spent and that their effort in acquiring the thing is well spent. ANDREW: Right. T-D: And is special to them. ANDREW: Yeah. And I know for myself, whenever I'm in a position to represent the religion in one way or another, I feel a lot of pressure. T-D: Absolutely! ANDREW: Right? To get it right. T-D: Absolutely! ANDREW: I made an Orisha tarot deck, which is coming out in the fall through a major publisher, right? T-D: Oh, wow! Okay. ANDREW: And-- through Llewellyn, it'll be out in September. T-D: Mmmhmm. ANDREW: And, it took me a long time to make it because I constantly felt this pressure, from me, right? T-D: Yeah, it's from you, it's just like any overachiever ... ANDREW: Right? T-D: You're not competing with other kids, you're competing with yourself. [laughing] ANDREW: There's nobody else, it's just me and the art, or you and the bath, or whatever. T-D: Right! ANDREW: Yeah, no, it's fantastic. T-D: That's definitely what it is. I definitely put my best into it. And I hope that that shines through and that people will see that and just to add one more thing, you know, it's really important, this idea that we have, of that license [sighs]. I just can't really say enough about that, I kind of get emotional about it. You can't create an Orisha bath if you don't have Orishas. ANDREW: Mmm. T-D: You know? And they're certain herbs that belong to Orishas, and all the herbs belong to Osane, but if you don't have the ritual license to work with those entities, how are you creating a bath? How are you creating a ritual? You can certainly do a spiritual bath, you know, working with your spirit guides, and working with your muertos, your protectors and guides, but working with Orisha requires Orisha. Requires consecrated Orisha. ANDREW: Yeah. T-D: So. ANDREW: For sure. T-D: Don't just throw some oranges and some -- ANDREW: [laughing] Cinnamon -- T-D: Yellow flowers and some honey and cinnamon in the bathtub and say that you're doing a bath with Ochún cause Ochún is not there in that bath with you. ANDREW: Yeah. T-D: [laughing] Not to be snarky! ANDREW: No, I think, I think it's important conversations, right? And I think that one of the reasons why it's my intention to have you and David Sosa and, you know, other traditional practitioners on, is I think that it's really important to have a dialogue about what tradition actually has to offer, right? And I think that it's a thing that's hard to understand, it's a thing that is not obvious in sort of the more modern world ... T-D: Right. ANDREW: And it's not obvious if you didn't grow up in a magical tradition or in a magical, you know, I mean, I had the great fortune to not be raised with any religion ... T-D: Mmmhmm. ANDREW: And I discovered Western mystery tradition stuff, and Western esotericism when I was like, 11 and 12, right. T-D: Mmmhmm, Mmmhmm. ANDREW: So I grew up self-educating myself in a magical approach to the world. T-D: Mmmhmm. ANDREW: And I think that's what has allowed me to step into it and into the Orisha tradition so well, is that the only traditions I've ever known have been magical. And spiritual in this way. And -- T-D: Yeah. ANDREW: And were also initiatory, right? T-D: Mmmhmm, mmmhmm. ANDREW: Right? You know? They're all pieces that I understood from the beginning, kind of coming into this, right? T-D: Right. ANDREW: I think it's important. T-D: And, it's very important. It's foreign to a lot of people, and, you know, it's important to say, you know, Orisha worship is not a self-initiatory system, it's a communal system, that has an intact priesthood, it has existed for many generations, for thousands of years if you go all the way back -- ANDREW: Mmmhmm. T-D: And it's an ancient religious system that has an orthodoxy and a priesthood and a specific path that one follows and that's very important. And that you cannot, even though the world changes, things change, things evolve, you can't fit Orisha into your own mold or -- ANDREW: Mmmhmm. T-D: Or mold Orisha to fit your lifestyle, in that type of way. It's not that type -- it's a religion, it's a structured religious system. ANDREW: For sure. All right. Well now we've given everybody something to think about! T-D: Yes. ANDREW: Thank you for making time -- T-D: Thank you! Thank you so much for having me, I really appreciate it, it was very kind of you and I appreciate your time. ANDREW: Oh, it's my pleasure, thanks. T-D: Thanks.
Egbe Alajeseku Ninu Islam (Islamic Co-Operative) - 1
Egbe Alajeseku Ninu Islam (Islamic Co-Operative) - 2
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