Morrow Sodali Strengthens Its Market Leading Position With New Australian Acquisition

Acquisition of key Australian financial communications and investor relations player, Citadel-MAGNUS will drive rapid growth and significant expansion

NEW YORK, Nov. 04, 2022 (GLOBE NEWSWIRE) — Morrow Sodali, the world’s leading shareholder engagement and governance advisory firm, announced today the acquisition of Australian financial communications and investor relations agency, Citadel-MAGNUS, its first since TPG Growth secured a majority stake in April of this year.

The Australian based acquisition represents a significant expansion of Morrow Sodali’s service offering in the APAC region to meet the rapidly growing global demand from corporations for strategic communications and investor engagement services.

The combination of Morrow Sodali and Citadel-MAGNUS brings together two trusted market leading consultancies to provide best in class strategic counsel and support to our clients. Citadel-MAGNUS will be fully integrated into Morrow Sodali enabling the firm to provide a seamless offering and the most comprehensive suite of investor relations and communications solutions to listed and private entities with the intention of rolling out the expanded services to other markets.

The acquisition marks a significant step forward in Morrow Sodali’s strategy to accelerate its growth by investing in services that create value for its clients world-wide.

Alvise Recchi, CEO of Morrow Sodali, commented, “As part of Morrow Sodali’s strategic global growth strategy, the addition of Citadel-MAGNUS will expand our service offering to encompass a broader suite of Board, C-Suite and ESG advisory, Investor Relations and Financial Communications services. We can’t wait to see the potential of this exciting opportunity realised as we continue to grow in new markets around the world.”

Christian Sealey, CEO of Morrow Sodali’s International Business added, “More and more, our clients are coming to us seeking advice and assistance across a wide array of areas covering shareholder communication, stakeholder engagement, capital markets intelligence, corporate governance and ESG advisory. Acquiring Citadel-MAGNUS enables us to provide strategic solutions for our clients and uniquely positions us to become their ongoing trusted partner of choice.”

Peter Brookes, Joint Managing Director of Citadel-MAGNUS said, “Our team is thrilled to be joining forces with Morrow Sodali. We are seeing a growing need to provide clients with an end-to-end offering across the financial calendar and increasingly complex event driven activity where good communication is paramount. The combination of our firms brings together two leading and trusted advisory companies that are deeply embedded in corporate Australia and who share a strong focus on delivering exceptional client service.”

About Morrow Sodali

Morrow Sodali is a global corporate advisory firm that provides clients with comprehensive advice and services relating to corporate governance, ESG, sustainability, proxy solicitation, capital markets intelligence, shareholder and bondholder engagement, M&A, activism and contested situations.

From headquarters in New York and London and offices in global capital markets, Morrow Sodali serves over 1,000 clients in more than 80 countries, including many of the world’s largest multinational corporations. Clients include listed and private companies, mutual fund groups, stock exchanges and membership associations.

In 2022, Morrow Sodali is celebrating its 50th anniversary and also secured a majority investment from TPG Growth, the middle market and growth equity platform of alternative asset firm TPG. This partnership will significantly advance the firm’s mission of providing clients worldwide with unrivalled strategic advice and comprehensive support, enabling them to maximize value and expertly manage stakeholder relations.

For more information about Morrow Sodali, please visit www.morrowsodali.com.

About Citadel-MAGNUS

Citadel-MAGNUS is a leading corporate and financial communication firm with offices in Sydney and Perth, servicing clients across Australia and internationally.

We have established a reputation for delivering outstanding results for our clients through trusted relationships, integrity and professional excellence. Our priority is to support clients’ business objectives through effective communication and a superior level of service.

Citadel-MAGNUS brings an unrivalled depth of financial markets, corporate and media experience to help companies address the challenges of today’s highly competitive and changing business environment. We have worked with companies in all sectors and of all sizes, and our success has led to established, long-term partnerships with business leaders and companies.

For more information, visit www.citadelmagnus.com.

CONTACT:

Elena Cargnello

Corporate Director, Marketing

e.cargnello@morrowsodali.com

+44 (0)20 4513 6913

GlobeNewswire Distribution ID 1000754955

PowerChina’s Sustainable development in Africa

BEIJING, Nov. 4, 2022 /PRNewswire/ — Power Construction Corporation of China (PowerChina) is actively participating in the “Belt and Road” initiative in Africa, responding to the planning and demand of African countries.

Promoting the localization 

At PowerChina, African staff plays a significant role. Employment is a key issue in African countries, especially women’s right to work. Two female Caterpillar drivers are able to earn a dignified living since their collaboration with the PowerChina at the rehabilitation site of Lot 2 of National Road 4 in Cameroon. Such examples are not uncommon. After finishing school in China in 2014, Kilenga Nelly managed to be recruited by the Zongo II hydroelectric power plant project once she returned to the Democratic Republic of Congo (DRC), allowing her to contribute to the development of her own country.

In April, the company organized the first job fair in the DRC, at the University of Kinshasa, during which more than 90 students submitted their CVs. It is worth noting that some local employees are now in management positions. Young Cameroonian Ngangoua Serge started at PowerChina as an intern in 2008. After his doctoral studies in China in 2010, he assisted in establishing an office in his country and five years later, he was appointed as PowerChina’s representative in Cameroon.

Gaston Eloundou Essomba, Cameroon's Minister of Water and Energy (second on the right), accompanied by Ngangoua Serge (first on the left), at the site of the construction of the new transmission line of the Memve'ele hydroelectric power plant on July 10, 2020.

Serving socio-economic development 

To achieve its Vision 2035 of becoming an emerging nation, Cameroon planned hydro power plants in 2009 to address the electricity shortage. PowerChina succeeded in taking charge of the construction of the Memve’ele hydroelectric power plant. PowerChina has also built roads here. The Mintom-Lélé section has changed the daily lives of the local population, facilitating the local transport of people and goods, and has greatly stimulated economic activity.

“Three Gorges Dam of West Africa”, the Soubré hydroelectric plant, whose annual power generation capacity represents 43% of the country. It helps meet the huge demand for electricity and increase electricity exports to neighboring countries, becoming a new engine for economic development in West Africa. In 2021, the Gribo Popoli hydroelectric plant started construction.

Taking social responsibility 

PowerChina has a tradition of volunteering at schools, orphanages and neighborhood hospitals near construction sites. On December 22, 2018, the company’s volunteers in Ivory Coast gave about 100 children Christmas gifts worth 1 million CFA francs ($1,557). Besides, PowerChina has joined the fight against the COVID-19 with the local community. Volunteers from the Zongo II hydropower project held an epidemic prevention presentation event at a school in the village of Zongo in the DRC in May 2020. The volunteers also used vehicles to spread messages to prevent the epidemic. They drove through more than 10 villages in the DRC, making more than 30 presentations, covering more than 30,000 people.

Photo – https://mma.prnewswire.com/media/1937951/Gaston_Eloundou_Essomba_Cameroon_s_Minister_Water_Energy__second_right__accompanied.jpg

COP27 needs a tremendous focus on action, Commonwealth of Dominica looking to share scalable solutions

Roseau, Nov. 04, 2022 (GLOBE NEWSWIRE) — There are a few days left until COP27 takes place in the Egyptian city of Sharm El-Sheikh from 6 to 18 November and the Commonwealth of Dominica, like many nations around the world, will be watching to see if this summit finally brings action and implementation of proposals and promises.

“We are at the stage where we can no longer use these events as talk shops, but rather, we need to be laser-focused and intentional about developing actionable plans to tackle the biggest challenge of our time – climate change,” says Dr. Vince Henderson, Dominica’s minister for planning, economic development, climate resilience, sustainable development, and renewable energy.

Small island nations like Dominica, are not the only countries facing extreme weather conditions as a result of global warming. UN Secretary-General António Guterres mentioned to journalists in New York recently that a third of Pakistan is flooded, Europe is experiencing its hottest summer in 500 years, the Philippines is dealing with the aftermath of tropical storm Paeng and in the United States, Category 4 Hurricane Ian was just another reminder of the climate crisis.

Dominica has been on a path to be the world’s first climate-resilient nation following Hurricane Maria which left an estimated 90 percent of buildings damaged or destroyed in 2019.

This year, at COP27, Dominica wants to showcase how it will reach climate resiliency by 2030. The country has implemented a number of projects that can be used as case studies that can be used as a flywheel of action.

“Everybody is talking about sustainability and climate change and why we need to reduce carbon emissions, the issue is how we are going to make a meaningful impact. For people to translate insight into action, they need to see good examples that motivate them, and we believe Dominica has an abundance of examples that are yielding results,” continues Minister Henderson.

In response to the destruction caused by Hurricane Maria, Dominica launched a climate resilience policy framework to help guide its recovery journey in the form of the National Resilience Development Strategy 2030 (NRDS).

The Climate Resilience and Recovery Plan of Dominica aim to build strong communities, build a robust economy, have a well-planned and durable infrastructure; strengthen institutional systems and, protect and sustain natural and other unique assets.

It centres around three pillars: structural resilience, financial resilience, and post-disaster resilience.

Structural resilience: The government of Dominica is building a resilient infrastructure capable of withstanding natural disasters, including Category 5 hurricanes. It includes the construction of 5 000 climate-resilient homes, healthcare centres, roads, bridges, airports, and schools.

Financial Resilience: The government of Dominica is implementing institutional fiscal reform to ensure stronger fiscal resilience which will aid in the strengthening of debt sustainability utilising several key institutional fiscal areas.

Post Disaster and Social Resilience: This pillar helps encourage farmers to plant more root crops which are more resilient to heavy rain and wind, and increases farmer training programmes and government assistance with the provision of seeds and fertilizers. The government’s plan to strengthen food security includes specific policies for the resiliency of the agriculture and fisheries industries.

With 2022 set to rank among the 10 warmest years on record, according to the US National Oceanic and Atmospheric Administration, Dominica is also constructing a geothermal power plant which will increase the country’s share of renewables and diversify the country’s energy matrix. The Commonwealth of Dominica already obtains 28% of its energy requirements from renewable energy sources such as hydropower and wind.

The UN is urging the world’s industrialized nations to ‘lead by example’ by taking ‘bold and immediate actions’. One of these nations includes the United States of America and with President Joe Biden confirmed to attend, it is said he will build on the significant work the United States has undertaken to advance the global climate fight and help the most vulnerable build resilience to climate impacts.

Last year, Biden arrived at COP26 largely empty handed and this year he will promote the passage of the Inflation Reduction Act, a bill that devotes hundreds of billions of dollars to clean energy initiatives and brings Biden’s pledge to cut United States emissions in half by 2030 closer within reach.

The Conference of the Parties (COP) is the group of nations that have signed the UN Framework Convention on Climate Change (UNFCCC), which was put together in 1992. It commits them to act together to stabilize greenhouse gas concentrations “at a level that would prevent dangerous anthropogenic (human-induced) interference with the climate system”. Since then, the parties, or nations, have met almost annually.

COP26 was held in the Scottish city of Glasgow in November 2021 and it brought together 120 world leaders and representatives from almost 200 countries. It culminated in the Glasgow Climate Pact, which reaffirmed the 2015 Paris Agreement goal of “limiting the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit it to 1.5°C”.

PR Dominica
Commonwealth of Dominica
001 (767) 266 3919
mildred.thabane@csglobalpartners.com
GlobeNewswire Distribution ID 8689439

Historic Senegal Fishmeal Factory Lawsuit Dismissed

 

A court in Senegal has dismissed a lawsuit by a fishermen’s collective against a fishmeal factory they had accused of polluting their village and destroying their livelihoods.

Dozens of people filtered into the Thies courthouse Thursday to hear the judge’s decision.

The lawsuit, filed by the Taxawu Cayar Collective against the Touba Proteine Marine fishmeal factory, accused the factory of polluting the town of Cayar’s air, soil and water.

The collective had asked for the temporary closure of the factory based on urgency.

During the legal proceedings, the collective presented video footage of the factory’s truck dumping fish waste into Cayar’s lake. An independent laboratory analysis revealed high levels of toxic metals in the lake, which was also found in the town’s tap water.

The collective is now deciding whether to appeal the decision or to bring forward new litigation that would permanently shut down the plant.

“We will pursue all possible legal avenues while respecting the laws of this country, said Alle Sy, a member of the fisherman’s collective. “We will never give up, as this is a battle close to our hearts.”

Boubacar Cisse, the lawyer for the fishmeal factory, formerly known as Barna Senegal, said the factory plans to take action against the collective.

“The factory is more than 3 kilometers away from Cayar, so how could a business like that pollute the air and make it unbreathable?” asked Cisse. “Obviously, Barna Senegal will retaliate against these people for having discredited the factory and tarnishing its image.”

The factory is one of at least a half dozen fishmeal plants operating in Senegal.

 

 

Source: Voice of America

President receives message from Belgian Premier

Luanda – Angolan Head of State João Lourenço received Friday a message from the Prime Minister of the Kingdom of Belgium, Alexander De Croo, which addresses the strengthening of bilateral cooperation.

Ambassador of the Kingdom of Belgium to Angola Jazef Smets delivered the letter during an audience granted by the Angolan Head of State, João Lourenço.

The letter also addresses “the points of view that Angola and Belgium share in the context of climate change and the defence of the environment”, the diplomat told the press at the end of the meeting.

Jazef Smets said that the two Governments are working on the creation of bilateral initiatives.

According to him, the objective is to adopt common positions toward the environmental issue, in multilateral organisations.

The diplomat stated that the Belgian Prime Minister praises the Angolan Government’s efforts in the search for solutions for peace and political stability in the Great Lakes Region.

He added that, in the message, the Belgian Prime Minister expressed his desire to continue cooperating with Angola in the economic field, with stress to the port, railway and diamond sectors.

Political-diplomatic relations between Angola and the Kingdom of Belgium began in 1979. Since then, agreements, memoranda and business contracts have been signed.

Angola and Belgium signed various documents, including the Economic, Scientific and Cultural Cooperation Agreement, dated 26 April 1983, which defined the regulatory legal framework for bilateral cooperation and set up the Joint Commission, as well as the General Cooperation Agreement signed on July 26, 1983.

 

 

Source: Angola Press News Agency

US Flu Season Off to Fast Start as Other Viruses Spread

 

The U.S. flu season is off to an unusually fast start, adding to an autumn mix of viruses that have been filling hospitals and doctors’ waiting rooms.

Reports of flu are already high in 17 states, and the hospitalization rate hasn’t been this high this early since the 2009 swine flu pandemic, according to the Centers for Disease Control and Prevention. So far, there have been an estimated 730 flu deaths, including at least two children.

The winter flu season usually ramps up in December or January.

“We are seeing more cases than we would expect at this time,” the CDC’s Dr. José Romero said Friday.

A busy flu season is not unexpected. The nation saw two mild seasons during the COVID-19 pandemic, and experts have worried that flu might come back strong as a COVID-weary public has moved away from masks and other measures that tamp the spread of respiratory viruses.

Community Montessori school in New Albany, Indiana, switched to virtual teaching at the end of the week because so many students were out sick with the flu. Beginning Monday, the school’s 500 students will go back to wearing masks.

“Everybody just wants kids on campus, that is for sure,” said the school’s director, Burke Fondren. “We will do what we need to do.”

There may be some good news: COVID-19 cases have been trending downward and leveled off in the past three weeks, Romero said.

And in a few parts of the country, health officials think they may be seeing early signs that a wave of another respiratory virus may be starting to wane. RSV, or respiratory syncytial virus, is a common cause in kids of cold-like symptoms such as runny nose, cough and fever. While RSV continues to rise nationally, preliminary data suggest a decline in the Southeast, Southwest and in an area that includes Rocky Mountain states and the Dakotas, CDC officials said.

Experts think infections from RSV increased recently because children are more vulnerable now, no longer sheltered from common bugs as they were during pandemic lockdowns. Also, the virus, which usually affects children ages 1 and 2, is now sickening more kids up to age 5.
At the University of Chicago Medicine Comer Children’s Hospital, beds have been full for 54 days straight.

“The curves are all going up for RSV and influenza,” said Dr. John Cunningham, Comer’s physician-in-chief.

RSV illnesses seem to be unusually severe, he added.

Comer has had to turn down transfer requests from other hospitals because there was no room. Chicago-area hospitals had been able to transfer kids to Missouri, Iowa and Wisconsin, but that’s stopped.

“They have no more beds, either,” Cunningham said.

There’s not yet a vaccine against RSV, but there are shots for flu and COVID-19. Health officials say flu vaccinations are down in both kids and adults compared with before the pandemic, although they are up in children from last year.

So far this season, there have been an estimated 1.6 million flu illnesses and 13,000 hospitalizations. Flu activity is most intense in some of the areas where RSV is fading, including the Southeast, according to CDC data.

 

Source: Voice of America

ANGOSAT-2 reaches orbital position 23E

Luanda – ANGOSAT-2 satellite Thursday reached its final position 23E, in the geostationary orbit.

The position of the satellite, according to a report by the Management Office of the National Space Programme (GGPEN), places it at a distance of about 36,000 km from the earth’s surface.

For 23 days, after its launch on 12 October, from the Baikanour Cosmodrome, Kazakhstan, Angolan specialists from GGPEN with the support of Russian experts in Luanda, Moscow and Zheleznogorsk carried out several maneuvers that involved engineering principles related to orbital mechanics, with success.

With the parking of ANGOSAT-2 in orbital position 23E, the second phase of tests follows, related to the verification of the performance of the parameters of the satellite communication channels.

It has six C-band communication channels, 24 Ku-band communication beams.

The satellite will cover the entire African continent, a significant part of southern Europe and almost total coverage of the southern region of Africa, also constituting a source of revenue.

 

 

Source: Angola Press News Agency

Vice president leads Angolan delegation to COP27

Luanda – Angola’s Vice President of the Republic Esperança da Costa will travel Saturday (5) to Sharm-el-Sheik (Egypt), to represent the Angolan Head of State, João Lourenço, at the 27th Session of the UN Conference of the Parties (COP27), scheduled for 6 – 9 November.

A press note from the Vice-President’s Office states that Angola will reiterate its concern about climate change, one of the greatest challenges that humanity faces, due to the effects this phenomenon has caused.

At this meeting, Egypt assumes the Presidency of the Conference of the Parties (COP27), which marks the thirtieth anniversary of the adoption of the United Nations Framework Convention on Climate Change.

Among the topics to be defended by Angola at COP27, emphasis should be placed on the financing of some projects focused on the environment, aimed at mitigating the effects of climate change.

Angola will come up with the Blue Carbon projects, which are being designed by the Otchiva Association, with the support of Sonangol and Total, of Photovoltaic Power Plants, the so-called clean energies, by the Ministries of Energy and Water and Natural Resources, Oil and Gas, as well as that of Green Hydrogen.

These projects will be presented at the Congo Basin Stand, which also has the Blue Fund Project.

The sustainability of protected areas and the impact of solid waste on the environment are, among others, the burning issues to be analysed during COP27.

Angola has taken concrete steps to mitigate the effect of climate change, one of which was the Construction of the Cafu Canal, a project that aims to bring water from the Cunene River to the populations of the provinces of Cunene and Namibe, aimed to combat the effects of drought in these regions.

The Angolan delegation to the United Nations Climate Summit will be integrated, among other entities, by the Minister of the Environment Ana Paula Chantre Luna de Carvalho, the Secretary of State for Foreign Affairs Esmeralda Mendonça, and the Extraordinary and Plenipotentiary Ambassador of Angola to Egypt Nelson Cosme.

The delegation will also include representatives from the Civil Affairs Office to the President of the Republic, National Assembly, the Ministries of Mineral Resources, Oil and Gas, Economy and Planning, Fisheries and Marine Resources, Agriculture and Forestry, Telecommunications, Information Technologies and Media, the boards of Sonangol and Endiama, and members of civil society.

 

 

Source: Angola Press News Agency

Consortium invests USD 400 million in Lobito Corridor

Luanda – The consortium Trafigura, Vecturis and Mota Engil announced Friday an investment of around USD400 million in the Lobito Corridor, in coastal Benguela province.

The investment aims, among other things, to ensure the operation of the infrastructure, the rail and logistics services, said Alexandre Canas of Mota Engil company.

Alexandre Canas was speaking to reporters at the end of an audience granted by the President João Lourenço, stating that the project will increase business volume and trade on the Lobito (Benguela)/Luau (Moxico) and the neighbouring Democratic Republic of Congo (DRC) railway section.

To formalise the start of the project, the parties were expected to sign an agreement this Friday (04) for the concession of the referred corridor in Luanda, for 30 years.

The project is expected to generate 1,600 direct jobs for young Angolans.

The tender for the concession to operate the Lobito Corridor was launched in September last year.

The new concessionaire will ensure the transport of goods, such as ores and fuel, and the management of the mining terminal at the port of Lobito.

The revival of the Lobito Corridor is part of the Angolan Executive’s efforts to strengthen regional integration and launch the sub-region’s cooperation commitments.

The project focuses on the Atlantic-Indian interconnection, with the connection of the railroad to the Port of Dar-es-Salam, in Tanzania.

The Lobito corridor comprises the port of the same city and the railways of Benguela.

The two structures extend for more than 1,300 kilometers. The route is the fastest export route for copper, cobalt and other minerals to the neighbouring countries such as Zambia or the Democratic Republic of Congo (DRC).

 

 

Source: Angola Press News Agency

President directs governors to draw up Integrated Intervention Plans

Luanda – Angolan head of State João Lourenço Friday directed the governors from 17 of the country’s 18 provinces to prepare Integrated Intervention Plans.

The meeting marked the start of the preparation process of the Integrated Intervention Plans for each of the country’s 17 provinces, with the exception of Luanda, which has its instrument of action approved.

 

At the end of the meeting, the minister of Territory Administration Dionísio da Fonseca clarified that the integrated plans aim to address the pressing issues of each province, with stress to education and health sectors.

As for the health, he said, the plans should cover the construction of primary and secondary units, such as health posts, medical centers and municipal hospitals.

 

He highlighted the fact that the Angolan Executive has already made investments in the tertiary network, with the construction of several hospitals in the 2017/2022 period.

 

Dionísio da Fonseca noted that the integrated intervention plans will also include actions in the areas of basic sanitation, water supply and electricity.

 

The plan, he added, will also include places for private investors to  produce essential goods and services for the population.

Dionísio da Fonseca said that the master plan should focus on ongoing and stalled projects, so that from 2024 onwards, the budgets cover new actions for the benefit of Angolan citizens.

 

He also said that the projects will be secured by resources from the treasury and credit lines, which are being negotiated.

 

Speaking to the press, the minister announced the preparation of Municipal Master Plans as priorities, aimed to facilitate the subdivision of land and contribute to increasing the offer of housing, mainly for young people.

 

In the coming days, each of the provincial government will gather, in a memorandum, the main projects to be implemented in their respective territories, including idled infrastructure, the process of construction and those considered priority in construction.

 

After this preparatory work, the Cabinet Council will hold special sessions for the approval, one by one, of the Integrated Intervention Plans for each province, as happened to Luanda.

 

Source: Angola Press News Agency