AFRICA CEO FORUM AWARDS LAUNCHED

The third edition of the AFRICA CEO FORUM, which is the foremost international event focusing on African private sector development strategies, will take place in Geneva on 16 and 17 March.

 For the third time in a row, awards will be given to the businesses and investors whose strategies and performance have contributed the most to Africa’s dynamic growth over the past year.

There are five awards in all: African company of the year, African Bank of the year, Private Equity Investor of the year, International Corporation of the year, and CEO of the year.

A jury of investment, consulting and media professionals, will rigorously examine over 300 applications before selecting 10 finalists in each category.

The winners will be announced at the gala dinner on 16^th March 2015 in the presence of Donald Kaberuka, President of the African Development Bank.

TAKING PART IN VALUE CREATION IN AFRICA

The nominees for the AFRICA CEO FORUM AWARDS, whose performance foster the emergence of competitive African companies both in Africa and abroad, are selected for their commitment and achievements in four key areas of African growth in 2014:

• promotion of Africa's private sector,

• strengthening of regional integration,

• development of intra-African trade,

• social and environmental responsibility.

A MEETING OF TOP AFRICAN AND INTERNATIONAL BUSINESS LEADERS

Competitiveness, growth, investment and performance: the strategic priorities of African businesses will top the agenda at the 2015 AFRICA CEO FORUM. 800 people are expected to attend this year's forum in Geneva, which already promises to be just as successful as previous editions.

Two months before the Forum’s doors open, many prominent figures from Africa and all over the world – including CEOs, bankers, financiers and leading decision-makers - have already confirmed their participation in the high-level meetings and discussions that will be held at the 2015 AFRICA CEO FORUM.

The AFRICA CEO FORUM was established in partnership with the African Development Bank. It is hosted by Groupe Jeune Afrique, which publishes 'Jeune Afrique' and 'The Africa Report' , and by Rainbow Unlimited, a Swiss company that specializes in organising economic development events.

Following the success of the 2014 edition, which was attended by over 700 prominent figures from Africa and all over the world, including 500 CEOs from 38 African countries and 85 high-level speakers, the AFRICA CEO FORUM, organised in partnership with the African Development Bank, has established itself as the foremost event for the development of the African private sector.

VW's quest to beat Toyota runs through US

                                                                                                                                                                      Volkswagen is hoping to unseat Toyota Motor as the world's No. 1 carmaker, possibly this year. The company's success is likely to depend on its performance in the American market.

The German auto giant sold 10.14 million vehicles in 2014, achieving a 4.2% year-on-year sales increase and topping the 10 million mark for the first time. All of VW's passenger-car marques managed to lift sales from the prior year, though the total was still shy of Toyota's 10.23 million.

Market conditions were tough, but all brands contributed to the group's sales goal, CEO Martin Winterkorn said Jan. 11. He was in the U.S. to attend the North American International Auto Show that kicked off the next day in Detroit.

Among the global top three, Volkswagen's 21st-century sales track record stands out. Toyota and General Motors skidded in 2009, hit by the global financial crisis. VW, however, has a streak of sales gains stretching back to 2002.

Chinese drivers
Its solid sales growth has been driven by the expansion of the Chinese market. VW's sales in China climbed 12% in 2014, accounting for 36% of its worldwide total.

One of the first foreign carmakers to set up shop in China, VW now operates eight plants there through two joint ventures. The company plans to pour 22 billion euros ($25.2 billion) into its Chinese operations over the 2015 to 2019 period. By 2018, its output capacity in the country is expected to reach 4 million units a year.

Thanks to its dramatic growth in China, VW has roughly doubled its overall sales over the last 10 years. But as the Chinese auto market starts slowing down, the company must shore up its flagging U.S. operations and bolster profitability.

Weak stateside sales
The German automaker's performance in the U.S. has been lackluster. Its group sales there dipped 2% last year. VW-brand passenger cars were effectively the sole loser in the market, with sales dropping 10%. To turn the U.S. business around, the company aims to invest $7 billion by 2018.

In the meantime, the carmaker hopes to generate a buzz among U.S. motorists with its new plug-in hybrid SUV. The Cross Coupe GTE features a V-6 engine and two motors to deliver strong driving performance despite being a planet-friendly vehicle.

VW's highly fuel-efficient midsize sedan, the Passat, has failed to excite U.S. drivers. So with the new SUV, the company added power to appeal to American consumers. Although the new model will not contribute to sales until 2016 at the earliest, VW has high expectations for it.

During the unveiling of the Cross Coupe GTE at the motor show Jan. 12, Winterkorn described it as well-suited to the U.S. market.
As for the other challenge of lifting profitability, the strategy of using a single vehicle platform for multiple models "has not produced the expected results so far," according to a market analyst.

VW last year announced plans to cut costs by a total of 5 billion euros. "Requests for price cuts from Volkswagen have intensified since around last summer," said an official at a Japanese autoparts maker in Germany.

Source: www.asia.nikkei.com

Commercial drivers benefit from decreasing fuel prices.

Commercial drivers in the country seem to be benefiting from the recent decrease in fuel prices by National Petroleum Authority (N.P.A).

The Authority, earlier this year, reduced fuel prices by 10 percent in response to the continuous reduction in world market prices of oil.

In a similar vein, the Ghana Private Road and Transport Union (G.P.R.T.U) also announced a five percent reduction in transport fares but drivers have so far refused to comply with this directive.

In an interview with some drivers in Accra, the Ghanaauto.com gathered that the high prices of spare parts, high road tolls and insurance charges and the fact that they will have to make accounts to their car owners are some reasons why the drivers are refusing to reduce fares.

As at now, lorry fares remain the same but most passengers don’t seem bothered because of the insignificant percentage change in fares.

It remains to be seen if drivers will increase lorry fares when the world oil prices starts going up again and the Petroleum Authority correspondingly increases prices accordingly.

source:theghanaauto.com

Jaguar announces F-PACE crossover car

Jaguar has confirmed it will introduce an all-new model to the Jaguar line-up, to go on-sale in 2016, named the Jaguar F-PACE.

The Jaguar F-PACE, a highly-efficient five-seat performance crossover underpinned by Jaguar’s innovative aluminium-intensive architecture and advanced suspension system has been design to suit all-weather, all-surface confidence and safety that will be delivered by instinctive all-wheel drive.

The vehicle will deliver an unrivalled blend of performance, style and practicality with Jaguar’s revolutionary ‘All-Surface Progress Control’ technology.

Ian Callum, Director of Design, Jaguar, commented: “We received such an overwhelmingly positive response to the C-X17 concept car last year that we just had to make it a reality.

“The Jaguar F-PACE, inspired by the F-TYPE, represents a perfectly judged balance of performance, style and practicality. It offers a unique combination of Jaguar sports car inspired exterior design, fused beautifully with a thoroughly practical and spacious luxury interior. The F-PACE is our family sports car.”

The Jaguar F-PACE couples class-leading interior space and exceptional on-road dynamics with five-seat usability to produce a true performance crossover. It will encapsulate everything that Jaguar stands for: beautiful design, precise handling, a supple ride, luxurious interior finishes and cutting-edge technology.

Speaking in Detroit, Andy Goss, Jaguar Land Rover Global Sales Director said: “In 2015 we will celebrate Jaguar’s 80th year. We have started it by announcing our first performance crossover which we consider to be the ultimate practical sports car - a car that builds on the marque’s founding ideals of Grace, Pace and Space to become one of the most innovative Jaguars we’ve ever developed.

The F-PACE has now begun its engineering and development testing programme ahead of the new model going on sale in 2016.”

The F-PACE will be manufactured in Solihull, UK. Jaguar sub-Sahara Africa can confirm that the all-new F-PACE will go on sale locally. Further details will be revealed later this year.

Auto parts dealers want tax reduction

   Auto parts dealers in Accra are pleading with government to consider a reduction in duties that are levied on imported auto parts at the entry points.

Some traders at Abbossey Okai disclosed to The Ghanaauto.com, that the heavy taxes accounts for the high prices of auto parts on the market and that has resulted in a drop in sales as potential clients cannot cope with the situation.

According to some of those interviewed, there are instances that their goods will have to remain at the ports for long periods because the levies are too much to pay.

“We find it difficult raising funds to clear the goods which results in more rent charges which are eventually passed on to consumers.

“We are appealing to government to come to their aid by way of reducing the taxes levied on imported spare parts,” said one trader.

Another trader said: “We are appealing to the Minister of Trade to come to our aid this year, otherwise our business will stagnate and the repercussions will be worrying.”

source:theghanaauto.com