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UBA Commits To Creating Superior Value For Customers…Launches Self-Printing Debit Card Machine At Flag Off Of Trade Fair

Pan African financial institution, United Bank for Africa (UBA) have announced that it is committed to continued investment in cutting edge technology for efficient and improved service delivery to its customers and by extension the business community.

The Chief Executive Officer, UBA Africa, Victor Osadolor, made the disclosure during a well-attended flag off ceremony of the 2019 Lagos International Trade Fair (LITF), in which UBA is the headline sponsor. The event, which held at the Tafawa Balewa Square, had in attendance distinguished guests, including the Deputy Governor, of Lagos State, Mr. Obafemi Hamzat; President, Lagos Chamber of Commerce and Industry, Babatunde Paul Ruwase; Minister of State for Industry, Trade and Investment, Hajia Mariam Katagum; Commissioner for Commerce, Industry and Cooperatives, Lagos State, Lola Akande amongst others, Special Adviser to Lagos State Governor on Commerce, Industry, and cooperatives, Ajayi Oladele, among others.

Osadolor used the occasion to launch another first of its kind in Nigeria’s financial sector, from UBA, called self-printing debit card machine, targeted at encouraging increased use of debit cards which also offers more options to pay.

The new self-printing debit card machine will allow for seamless business transactions with great value to customers and businesses.

He stated that that there is no gain saying that the world is tilting into a knowledge based economy, adding that businesses that would survive in the 21st century must invest in technology to remain competitive.

He also commended the federal government’s efforts at improving the nation’s investment climate, saying this is the reason the country is currently ranked fifteen place upwards in the global ease of doing business index.

He also added that the bank would continue to support initiatives aimed at boosting trade in the country.

On delivery of its brand promise, he said, “We are creating superior value for all our customers, because we believe they are key to our everyday operations.”

He further said, the bank’s small and medium scale enterprise banking unit has been actively supporting small businesses with

industry-specific loans that ensure maximum impact.

According to Osadolor, UBA also keys into government intervention funds to expand access to credit facilities at competitive interest rates, while providing services such as advisory and technological infrastructure that help to reduce the cost of doing business.

“Most of our customers have enjoyed free advisory services that have helped them navigate the very difficult business terrain. We also have businesses, latching on to our technological assets to improve their services as well as foster growth”

Osadolor restated UBA’s commitment to continue investing heavily in technology to remain a pillar to millions of businesses that have not only chosen to bank with UBA, but have also partnered the bank for growth.

“We are consistently supporting our SMES. We have a huge amount of funds allocated to SMEs. UBA is committed to supporting entrepreneurship. We are the major promoter of the Fair. The new self-printing debit card machine will go along way in allowing for seamless business transactions with attendant value to businesses.

He stated that: “At UBA, we are committed to being role models for African businesses by creating superior value for all the stakeholders. Therefore we have over the years recorded increased growth”.

Earlier, the Governor of Lagos State, Babajide Sanwo-Olu, represented by the Deputy Governor, Lagos State, Dr. Obafemi Hamzat, said the State’s commitment to promoting and connecting businesses across transnational borders, remains strong and unshaken.

“We shall leave no stone unturned to ensure that Lagos State truly becomes a 21st century economy which actively supports the growth of the local economy through improved ease of doing business initiatives, innovative incentives and interventions as well as quality service delivery to a well-motivated public,” he said.

On his part, the President of LCCI, Mr. Babatunde Ruwase said the theme of this year’s fair underscores the importance of a robust business interaction to generate wealth and create value for the advancement of the Nigerian economy and the welfare of the citizens.

Ruwase said, “Creating a platform to promote trade and bilateral relations is of utmost importance to the LCCI.

“In UBA, we have chosen a suitable partner with extensive reach on the continent with capacity to engineer a seamless financial transaction required for an international trade fair of this magnitude,” he said.

Speaking further on the partnership with UBA, he said: “The LCCI and UBA have partnered to give exciting services to visitors and exhibitors at the fair.

UBA is a foremost Pan African financial institution operating in 20 African countries, including the United Kingdom, the USA and France, thus offering unique services to the delight of visitors and exhibitors during the fair. This tells you that, we are more than committed to ensuring the business environment is beneficial for all investors.

“As a policy advocacy group, our programmes and activities are geared towards facilitating the realisation of the economic and social objectives of the government and making Nigeria an attractive destination for investment.

“Our economic and investment policies must be friendly to make Nigeria a major investment hub in Africa. “

He said Nigeria needs the right policies as well as a strong commitment to infrastructure development that will help revive investors’ confidence in its economy.

Heritage Bank convenes strategic Agribusiness meeting with Sumitomo Corporation

Nigeria is at the threshold of the much-needed agricultural revolution, as food production remains a significant challenge all over the world, hence whilst, Heritage Bank Plc is forming alliance to further create formidable partnership arrangements with Sumitomo Corporation that will lead to impactful agribusiness within the segments of the agricultural value chain.

This relationship that is focused on mechanisation and agribusiness will complement the efforts of the Central Bank of Nigeria’s (CBN) to fast track development of the agricultural sector and enhance national food security.

L-R: John Gbassa, CEO/MD of WAO Global Trading Ltd; Koji Shirotani, Divisional Manager, Sub-Sahara Africa Business Development Division; Afolasade Alonge, Divisional Head, Corporate and Specialized Banking, Heritage Bank Plc; Masafumi Tanimoto, General Manager, Accra Liason Office; Tsuyoshi Ueda, Assistant Managing Director; Jude Monye, Executive Director of Heritage Bank; Olugbenga Awe, Divisional Head, Agric Finance & Export and Takuya Yamamoto, General Manager, Middle East & Africa, Sumitomo Corporation, during discussion between the Heritage Bank and Sumitomo Corporation on mechanisation & Agric Business, held at bank’s head office, weekend

The Time is Now to Invest in Africa and African SMEs, Tony Elumelu Tells Global Investors in Paris

Founder of the Tony Elumelu Foundation (TEF) and Chairman, United Bank for Africa (UBA) and Heirs Holdings opened the “Ambition Africa” conference organised by the France Invest Africa Club in Paris, France.

As Elumelu delivered the opening address, he urged French investors to look to Africa for long term investment opportunities.

The French Minister of Economy and Finance, Bruno Le Maire, as he introduced Tony Elumelu to the audience stated that France could position itself and direct investment towards Africa to end the cycle of poverty and to accelerate development globally. He commended Elumelu’s stance on strengthening the SMEs in Africa to catalyse development. “We share the same ambition in Supporting African SMEs and entrepreneurs as this is essential for the economic development of Africa,” he said, referring to Elumelu’s passion to create wealth on the African continent.

Reiterating the stance to partner with Africa on long-term investments, Mr. Le Maire said “We will ensure that investments in Africa are sustainable, exemplary and environmentally friendly. We want to go fast, go quickly in the race against poverty and renunciation, throughout the continent”.

Tony Elumelu on his part stated “We need to do much better and be much smarter in channelling funds to emerging markets. These markets present huge opportunities – as well as risks for investors, but investors need to fulfil a critical need to catalyse and improve the economy. We salute companies like Total, Bouygues, Accor, Orange, and Bolloré as well as others who have accepted this challenge, but there is room for many more” he said.

Elumelu stressed the importance of private equity inflow into Africa, with a focus on investing in small and medium scale businesses, the lifeblood of the African economy. He stated that Africa has the youngest workforce in the world, with over 60% of its population below the age of 25. This he said was a potential demographic doom that could be turned around to become the continent’s greatest asset if the youths have jobs and economic opportunities.

According to him: “Africans do not need aid. Rather, our young people need investments’.

“Private equity is a force for positive development in Africa. We have a large youth population, who are eager and innovative. They are looking at solutions to problems in their communities but are hampered by the access to capital and investment, mentoring and training. When done right, this kind of investment can bring not just capital but can also strengthen job creation, corporate governance and help improve sustainable business practices”.

He cited the impact and growth rate of the beneficiaries of the Tony Elumelu Foundation as evidence of the potential of SMEs in Africa today. His Foundation has endowed $100 million dollars of his family wealth, to fund over 10000 African entrepreneurs in ten years.

Mr. Elumelu commended The French President, Emmanuel Macron’s initiatives for strengthening the relationship between France and Africa and concluded by inviting investors to consider investing in Africa for the long term.

“The key phrase here is long term investment – no one should come to Africa for short term gain. The time is now to invest in Africa. Private equity has to be part of it. We need it for all,” he concluded.

ZENITH BANK IGNITES LAGOS WITH “STYLE BY ZENITH 2.0”

Following the success of the maiden edition, Nigeria’s leading financial institution, Zenith Bank Plc is set to ignite Lagos with the second edition of its highly anticipated Lifestyle Fair, “Style by Zenith 2.0”, which holds from Friday, November 29 to Sunday, December 1, 2019.

First launched in 2018, the “Style by Zenith 2.0” initiative, which was created with the objective of supporting and creating value for customers by focusing on various aspects of their lifestyle, will hold at the Eko Energy City, Eko Atlantic, Victoria Island, Lagos.

This year, “Style by Zenith 2.0” takes things up a notch with the theme, “Style the Life you Desire”, aimed at encouraging Nigerians to live their best lives and be extraordinary.

“Style by Zenith 2.0” caps a year of all-encompassing customer lifestyle engagements by Zenith Bank through events such as the Aspire Music Festival, a musical concert for millennials held in Lagos in September and the Aba SME Fair organised for SMEs in the Aba Fashion Market, Abia State last month. This is in addition to the Light-Up Ceremony of the yuletide decorations on Ajose Adeogun Street, Victoria Island coming up by the second week of this month.

The three-day fair has an interesting line up of activities including runway modelling by leading Nigerian and international models accessorized by top designers, modelling masterclasses, exhibition of lifestyle, beauty, health & fitness products, food and drinks, games arcade for both children and adults as well as musical concert featuring Nigeria’s biggest artistes.

Fashion One, the leading global fashion and lifestyle channel will once again be working with Zenith Bank on the “Style by Zenith 2.0” initiative.

Attendance at the fair is free for everyone. However, the music concert is exclusively reserved for Zenith Bank customers, although non-Zenith customers can still attend the concerts by simply opening a Zenith Bank account and registering to attend at www.zenithbank.com/style.

Zenith Bank Plc is recognized as one of the most innovative financial institutions in Nigeria and was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS).

Planned Increase Deepwater Royalty: Nigeria may lose $15bn, say IOCs

International oil companies and their local counterparts under the aegis of the Oil Producers Trade Section have said the Federal Government’s planned increase in deepwater royalty will worsen Nigeria’s competitiveness and make its $15bn planned deepwater investments economically unviable.

The OPTS, a private industry group under the umbrella of the Lagos Chamber of Commerce and Industry, also said the move would result in an estimated 20 per cent decline in deepwater oil production by 2023.

The House of Representatives on Tuesday concurred with the Senate by passing a bill amending the Deep Offshore and Inland Basin Production Sharing Contract Act 2004.

The Federal Government, in its 2019 approved budget public presentation, had said it was targeting N320bn from the revision of the PSC legislation/terms this year.

The nation’s oil and gas production structure is majorly split between joint ventures onshore and in shallow water with foreign and local companies and the PSCs in deepwater offshore, to which many IOCs have shifted their focus in recent years.

Under the PSCs, the Nigerian National Petroleum Corporation holds the concessions, and the contractors fund the development of the deepwater offshore blocks and recover their costs from the production after royalty payments.

The NNPC had said in 2016 that it was reviewing existing PSCs “to negotiate more favourable terms and improve the revenue base of the federation.”

The OPTS, in its presentation to the Senate obtained by our correspondent, said the proposed unilateral change to the current terms would damage investor confidence and make the country’s deepwater and inland basin PSC less attractive in the wake of stiffening global competition for investable funds.

According to the group, the Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Bill seeks to introduce an additional price-based royalty on revenues above $35 per barrel, which ranges from 0.2 per cent to 29 per cent as the oil price increases.

It said, “This is in addition to the existing water depth-based royalty. Furthermore, the industry is burdened by a plethora of other taxes, fees, levies and other tariffs.

“This rate increase would result in future deepwater projects becoming economically unviable and leading to at least a $15bn reduction in planned near-term investments.”

According to the group, Nigeria has one of the least competitive deepwater fiscal terms in Africa and is currently losing substantial amount of potential investments in the oil and gas industry to other countries, particularly Mozambique, Angola and Ghana.

“In the last decade, the Nigerian oil industry has been able to start up production of only three new deepwater projects – Usan, Aje and Egina. Other African countries with less hydrocarbon potential have attracted significantly more investments than Nigeria because they offer more attractive deepwater fiscal terms that encourage investment,” it said.

The OPTS noted that deepwater PSC development had been a major contributor to the Nigerian petroleum industry, the economy and government revenue.

According to the group, deepwater PSCs currently account for about 40 per cent of Nigeria’s oil production, rising from zero in 2004 to about 780,000 barrels of oil equivalent per day.

Heritage Bank Pledges continued support for Women Empowerment

Heritage Bank Plc has said it will continue to lend support to causes that promote women empowerment as this will impact positively on the nation’s socio-economic development.

Managing Director, Heritage Bank, Ifie Sekibo, stated this at the “Raising Girls Summit ‘19” which held in Lagos last Friday as part of activities to commemorate the International day of the Girl-Child.

Sekibo, who was represented at the event by the Regional Executive, Lagos & South-West, Heritage Bank, Dike Dimiri, disclosed that the lender sponsored the “Raising Girls Summit ‘19” because as he put it: “At Heritage Bank, we are committed to anything that represents women empowerment.”

According to him, the Bank has been in the vanguard of promoting financial literacy and financial inclusion especially among women because it believes that this is key for advancement in today’s dynamic world.

He said: “If we can start promoting financial inclusion especially among the girl child, then we can stand a better chance of having our children growing up to help build a strong financial system. Heritage Bank has been in the fore front of trying to ensure that financial inclusion is not just for adults but for children and more so at a very early age.”

Sekibo, who noted that Heritage Bank actively participates in financial literacy programme organised by the Central Bank of Nigeria (CBN) in different parts of the country every year, assured organizers of “Raising Girls Summit ‘19” of Heritage Bank’s continuous support

Organsied by The Green Girl Company Limited, (organizers of the Miss Nigeria Beauty Pageant), the Raising Girls Summit, is part of a global effort to empower, and deliberate on issues affecting the girl-child in Africa.

It is also aimed at influencing social change and policies to ensure the better life and the future prospect of girls in Africa.

In her remarks at the event, the Green Girl Company Limited CEO, Dr. May Ikeora, thanked Heritage Bank for its support for the summit, adding that with the lender’s support, the organisation was making valuable contribution to Nigeria and the world.

She advised young girls not to focus on what society can do for them, but on what they can contribute to the society.

Also speaking at the event, a former “Miss Nigeria”, Helen Prest-Ajayi, stated that if the girl-child is better educated, the country would be a better place for all Nigerians.

L-R: Fidelis Anosike, Chairman Folio Group; Dike Dimiri, Regional Manager, Lagos and South West, Heritage Bank and May Ikeora, Green Girl Company Limited, during the “Raising Girls Summit “19” which held in Lagos, sponsored by Heritage Bank, as part of activities to commemorate the International day of the Girl-Child.

FBNHOLDINGS, FBNBANK GHANA CALL ON PREZ AKUFO-ADDO

The Group Board Chairman of FBN Holdings Plc, Dr. Oba Otudeko CFR and Directors of FBN Holdings, FirstBank of Nigeria Limited and FBNBank Ghana Limited have paid a courtesy call on the President of the Republic of Ghana, Nana Addo Dankwa-Akufo-Addo in Accra.

The visit was to show appreciation to the President and thank him for participating in First Bank of Nigeria Limited’s 125^th anniversary activities held earlier this year and update the President of some recent investment activities of the Group.

Dr. Otudeko assured President Akufo-Addo that FBNHoldings believes in the Ghanaian economy and indicated that it was evidenced by the recapitalization of FBNBank Ghana by its parent bank, First Bank of Nigeria Limited. He pointed out that the Group’s investment of US$100 million was well above the new minimum capital requirement set by the Bank of Ghana into its Ghana operation.

The FBNHoldings Group Board Chairman added that the bank’s confidence in the Ghanaian economy and the talent of Ghanaians had resulted in the appointment of Victor Yaw Asante as the first Ghanaian Managing Director of FBNBank Ghana Limited.

Dr. Otudeko lauded the President of Ghana for giving the youth opportunities to serve in his government, saying it will prepare them to take over the leadership of Ghana in the near future. He congratulated the President on the choice of Ghana as host of the Africa Continental Free Trade Agreement, saying that it must have taken significant effort to bring this to Ghana.

President Nana Addo Dankwa Akufo-Addo thanked Dr. Otudeko for his kind words and recounted the crucial bilateral and economic ties as well as historic bond, pre and post-independence, that exist between Ghana and Nigeria.

While stating that it is important for the economies of both Ghana and Nigeria to do well for ECOWAS to succeed, the President thanked FBN Holdings Plc for investing in Ghana and gave the assurance that government will provide the necessary support to FBNBank Ghana Limited and the entire business community.

The President also touched on the banking sector reforms and observed that Nigeria also had to embark on a similar exercise in the recent past. He said it was a painful but necessary exercise to strengthen the financial services industry and position it to support business and the economy.

President Akufo-Addo emphasized the importance of providing opportunities to the youth to enable them support the nation’s growth and development agenda and the need for all citizens of the two countries to find avenues to give back to their nations.

Members of the delegation pledged, on behalf of FBN Holdings Plc and FBNBank Ghana, their commitment to helping build a stronger Ghanaian economy, as well as forging stronger economic ties between citizens and businesses of Ghana and Nigeria.

The FBNHoldings Group Board Chairman, Dr. Oba Otudeko, CFR, was accompanied by Mrs. Ibukun Awosika, Chairman, Board of Directors, First Bank of Nigeria Limited; Mr. U. K. Eke, MFR, Group Managing Director, FBN Holdings Plc.; Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited; Otunba (Mrs.) Debola Osibogun, Non-Executive Director, FBNHoldings; Dr. Hamza Wuro Bokki, Non-Executive Director, FBN Holdings, and Mr. Victor Yaw Asante, Managing Director, FBNBank Ghana Limited.

FBN Holdings Plc is the most diversified financial services group in Nigeria and includes FirstBank of Nigeria Ltd the mother company of FBNBank Ghana and other subsidiaries around the world.

ZENITH BANK/NFF FUTURE EAGLES PUT HUNGARY TO THE SWORD AT THE 2019 FIFA UNDER-17 WORLD CUP IN BRAZIL

Almost all the impact players for the Golden Eaglets in Saturday night’s 4-2 defeat of Hungary in the opening match of the 2019 FIFA U-17 World Cup tournament in Brazil are products of the annual Zenith Bank/NFF Future Eagles Championships, including the goal scorers.

The competition, sponsored by NFF’s partner, Zenith Bank Plc, was launched in 2016 and has been widely lauded for its vision, with both U-13 and U-15 competitions running side-by-side right from the states to the zones and then to the national finals.

Samson Tijani, captain of the team and playmaker, who netted two goals (Nigeria’s first and last goals), and was named Man Of The Match, is a product of the competition, as well as defender Usman Ibrahim, whose powerful header off a corner kick restored parity after several attempts by Nigeria had been foiled.

Right back Oluwatimilehin Adeniyi, whose powerful header off a cross by another substitute Ibraheem Jabaar put Nigeria ahead for the first time in the game (3-2), also emerged from the Zenith Bank/NFF Future Eagles competition. He was severely injured before the Africa U-17 Cup of Nations in Tanzania in April, and could not make the trip.

Also of note is Akinkunmi Ayobami Amoo, whose entry into the game in the second half brought more vigour into the Nigerian attack. Amoo is a product of the Zenith Bank/NFF Future Eagles Championship, alongside forward Olakunle Olusegun, who also fought like a Trojan in Saturday’s encounter.

Another player who is a product of the Future Eagles Championship and is with the Eaglets in Brazil is Divine Nwachukwu, but he did not taste action against the Hungarians.

The Zenith Bank/NFF Future Eagles Championship also supplies the players to the U-15 National Boys’ team, which finished as runner-up at a tournament in Japan few months ago. In fact, Usman Ibrahim, who netted the equalizer against Hungary before further goals by Adeniyi and Tijani, was in the squad that went to Japan.

Nigeria, five –time champions of the FIFA U-17 World Cup take on Ecuador, host of the 1995 edition, in their next match of the tournament on Thursday, also at the Estadio Olimpico in Goiania where they put Hungary to the sword. Their final match of Group B, against Australia, will take them to Brasilia, on Friday.

Zenith Bank remains the biggest corporate social responsibility (CSR) contributor in the Nigerian financial services industry. The bank regularly make donations towards the development of various sectors of the Nigerian economy including education, health, sports, etc. In addition to being a major sponsor of the Nigeria Football Federation (NFF) and the Nigerian Basketball Federation (NBBF), Zenith Bank is the sole sponsor of the Zenith Bank/NFF Future Eagles Championship, the Zenith Bank Women Basketball League (for 15 years running), the Zenith Bank Delta Principals’ Cup, and the Zenith Bank Next Gen Tennis Championship, amongst others.

PHOTOS: Buhari, Heritage Bank, Zamfara State, others hold discussion on boosting solid mineral development

In a bid to boost the nation’s economic growth, Heritage, Zamfara State Government and the Pan African Capital, at the just concluded Russian-African Summit in Sochi, Russia, held a meeting to brief President Muhammad Buhari on the African Export Import Bank cooperation with Zamfara on solid minerals development put together by the two aforementioned financial institutions.

This is coming on the heels of the signing of $1bn Memorandum of Understanding (MoU) in the areas of mining, agriculture, water resources and others, between Afreximbank and Zamfara, which Heritage Bank is the banker to the project.

President Muhammadu Buhari (4th right) with Governor of Zamfara State, Bello Muhammad Matawalle (3rd right); Minister of Solid Minerals, Arc. Olamilekan Adegbite (3rd left); President/CEO AfreximBank, Prof. Benedict Oramah (4th left); MD/CEO Heritage Bank Plc, Dr Ifie Sekibo (2nd right); Managing Director, Intra-African Trade Initiative, AfreximBank, Mrs. Kanayo Awani (left); Zamfara State Official, Alhaji Bashir Hadejia (2nd left) and Managing Director, Pan African Capital, Mr. Chris Oshiafi, during a meeting to brief President Buhari on the Afreximbank cooperation with Zamfara State for Solid Mineral development put together by Heritage Bank and PAC, in Sochi, Russial, weekend.

FIRSTBANK CELEBRATES TOP PERFORMING FIRSTMONIE AGENTS NATIONWIDE

In recognition of the contribution of its Firstmonie Agents towards the Bank’s resolve at promoting access to financial services to all Nigerians, First Bank of Nigeria Limited has announced that its Agent Banking National award ceremony would hold on Friday, 25 October 2019 at the Oriental Hotel, Lagos. The event is themed “Planting Community Heroes Nationwide”.

Since its inception in 2017, the FirstBank Agent Banking scheme, popularly called Firstmonie, has recorded giant strides at promoting financial inclusion across the nook and cranny of the country. With almost 40,000 Agents in 99% of the 774 Local Government Areas in Nigeria, processing approximately 1million transactions daily, First Bank of Nigeria Limited is leading the effort at supporting the Federal Government’s objectives to deepen access to financial services.

FirstBank’s Firstmonie service is providing financial/banking solutions to rural and semi-urban locations across the country, such as account opening, cash deposit, cash withdrawals, airtime purchase, bill payments, BVN enrolment and much more. Through this channel, the Bank is providing convenient services that endears trust and provides ease of access to banking products, thereby saving time and travel costs for users of our network. During the award ceremony, the bank will be recognising top performing Agents at National, Regional, and State levels.

FirstBank’s financial inclusion activities is in line with the mandate of the Central Bank of Nigeria (CBN) to ensure the availability of affordable financial products and services to all individuals and groups of people in the country; irrespective of location, literacy levels, familiarity with technology and accessibility to modern infrastructural facilities. The Firstmonie Agent channel is amongst the Bank’s many initiatives to expand financial access in the country.

“According to Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited “the unwavering efforts and remarkable contributions by our Firstmonie Agents at promoting financial inclusion in Nigeria is indeed very much appreciated. Within the past 2 years we have been able to create not only 40,000 access points, but over 150,000 indirect jobs. We remain committed to doing more, strengthening business activities, driving economic growth and development; thereby reducing poverty”

“We would not rest on our laurels because without a doubt, every individual’s contribution to national growth and development, regardless of where they are, is indeed very important to us” he concluded.