Latest news with #CRCP
Arabian Post
10-07-2025
- Business
- Arabian Post
Nigeria's Coastal Highway Passes $747 m Funding Milestone
Nigeria has secured a $747 million syndicated loan, led by Deutsche Bank, to fund the initial 47.47‑kilometre phase of its flagship coastal highway spanning from Victoria Island to Eleko Village in Lagos. The Ministry of Finance confirmed the financing on Wednesday, marking a record for road infrastructure funding in the country. Lenders in the syndicate include First Abu Dhabi Bank, African Export‑Import Bank, Abu Dhabi Exports Office, ECOWAS Bank for Investment and Development, Nexent Bank and a consortium of Zenith Bank branches. Coverage for partial political and commercial risk is provided by the Islamic Corporation for the Insurance of Investment and Export Credit. The highway is built under an Engineering, Procurement, Construction and Financing contract awarded to Hitech Construction Company. Officials report that over 70 per cent of Phase 1 Section 1 is complete, utilising Continuously Reinforced Concrete Pavement designed to deliver at least 50 years of durability with minimal upkeep. ADVERTISEMENT Nigeria's Finance Minister, Wale Edun, described the syndication as emblematic of sustained confidence from international investors in Nigeria's reform agenda and infrastructure vision. He highlighted that the structure exemplifies the country's embrace of public–private partnerships, stating that it 'positions the country as ready for a full transition to the design, development, financing as well as operations and management of critical public infrastructure'. Minister of Works, David Umahi, added that the financing sets a 'strong precedent' for future infrastructure partnerships, signalling global affirmation of Nigeria's economic advancement and governance standards. Hitech Construction's Managing Director, Dany Abboud, emphasised the standards-setting nature of the project. He said Nigerian engineering, backed by structured international finance, 'can meet global standards,' with CRCP providing cost-efficiency and resilience. ICIEC's CEO, Khalid Khalafalla, noted that the sovereign risk coverage facilitates vital infrastructure development, easing congestion, expanding trade and boosting inclusive growth across West Africa. The broader Lagos–Calabar Coastal Highway is projected to stretch approximately 700 km from Lagos to Calabar, with estimated total costs around $11 billion and an eight‑year delivery timeline. The government is also finalising a toll‑based concession framework to ensure the project's operational sustainability and attract private capital. Implementation of CRCP technology and investor‑backed financing reflects a shift towards durable, future‑proof infrastructure capable of servicing Nigeria's growing population and trade needs while fostering regional economic integration and logistics efficiency.
Scoop
24-06-2025
- Politics
- Scoop
Resettlement Changed Her Life; Now She's Fighting For Others To Have The Same Chance
24 June 2025 Currently, she's a qualified refugee and human rights lawyer in New Zealand – but on Tuesday she recalled becoming displaced aged 14 and described the harrowing limbo that followed. Invisible and alone 'I grew up invisible to the world,' she said. 'Without rights, opportunities, or safety.' That all changed in 2018, when her family was offered resettlement in New Zealand – a decision she said gave her back dignity, hope, and a future. Today, she advocates for others as a legal professional and helps shape global resettlement policy as an advisor to the Core Group on Resettlement and Complementary Pathways (CRCP) which is supported by UN refugee agency, UNHCR. Ms. Changezi's powerful testimony set the tone for the release of the agency's Projected Global Resettlement Needs 2026 report. Syrians on the move UNHCR estimates that 2.5 million refugees will require resettlement next year, a decrease from the 2.9 million estimated for 2025. While this marks a shift – mainly due to changed conditions in Syria that are allowing for some voluntary returns – the figure remains historically high. The largest groups in need include Afghans, Syrians, South Sudanese, Sudanese, Rohingya and Congolese refugees. Major countries of asylum like Iran, Türkiye, Pakistan, Ethiopia and Uganda continue to host large refugee populations, with many individuals facing urgent needs that resettlement can address. ' Resettlement offers not only protection, but also a pathway to dignity and inclusion,' said UNHCR spokesperson Shabia Mantoo. 'It is a demonstration of meaningful international solidarity,' she added. Worrisome decline Yet the message from UNHCR was also one of concern. Resettlement quotas for 2025 are expected to fall to their lowest level in two decades — below even the disruptions seen during the COVID-19pandemic. This decline threatens to undo progress and places vulnerable refugees at greater risk. In that context, Ms. Changezi's story became more than a personal account – it was a rallying call. 'Resettlement is more than a humanitarian act,' she told journalists. 'It is a strategic investment in our shared future.' Contributing to host societies Ms. Changezi emphasized that refugees are not defined by their vulnerability. Across the globe, resettled refugees are rebuilding communities, launching businesses, and strengthening social and economic systems in their new homes. ' We offer solutions. We drive innovation,' she insisted. UNHCR is urging states to not only maintain their existing resettlement programmes but to expand them – swiftly and ambitiously. It is also calling for more flexible and responsive systems that can meet the needs of refugees across different regions and contexts. Despite the challenges, over 116,000 refugees were resettled through UNHCR-supported programmes last year. The international target for 2026 is to resettle 120,000 individuals – a goal UNHCR says is well within reach if states act decisively. Ms. Changezi closed her remarks with a reminder that the promise of resettlement is not abstract. 'Multiply my story across millions,' she said. 'The long-term impact is extraordinary – not just for refugees, but for the societies that embrace them.'
Zawya
04-03-2025
- Business
- Zawya
Dubai-based Hoxton Wealth appoints experienced Chief Compliance Officer for growing US business
The US business of Dubai-based international financial advisory firm Hoxton Wealth has announced the appointment of Justin Burse as its new US Chief Compliance Officer. Burse, most recently served as the Deputy Commissioner and then the Acting Commissioner for the Kentucky Department of Financial Institutions, where he oversaw a diverse portfolio of regulated entities, including banks, credit unions, investment advisers, broker-dealers and the mortgage industry. His earlier roles include Chief Compliance Officer & General Counsel at Credent Wealth Management, and he has also held positions at Hilliard Lyons, FINRA and Fidelity Investments. Speaking about his new role, Burse says what energizes him most is the opportunity to work alongside a dynamic group of leaders who are not only committed to excellence but also passionate about making a real impact. 'I'm eager to collaborate with such a talented team and leverage my experience as a regulator to help shape and grow the business in the US. There's a lot of potential here, and I'm looking forward to contributing to Hoxton Wealth's continued success while navigating the evolving regulatory landscape with expertise and foresight.' Hoxton Wealth CEO Chris Ball is excited about Burse's arrival: 'Justin's expertise will further strengthen our commitment to upholding the highest ethical standards while ensuring we continue to navigate the developing regulatory landscape with diligence and transparency. Compliance is at the heart of everything we do, and Justin's knowledge and strategic approach will be invaluable as we continue to grow in the US while maintaining our unwavering commitment to regulatory excellence and client trust.' Burse holds an Executive LL.M. in Securities & Financial Regulation from Georgetown University Law Center, a J.D. from the University of Kentucky J. David Rosenberg College of Law, an MBA from Fairfield University, and a Bachelor's Degree in Business Administration and Management from Fordham University. He also is a Certified Regulatory and Compliance Professional (CRCP)® designation holder.
