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In the present day, geographic information systems and space technology are no longer perceived as specializations of highly developed technological advancement and scientific exploration ( Pick, 2008). They have turned out to be essential tools to facilitate development and for businesses to realize their aims, goals and objectives. Therefore, Space journalism can be exemplified as a technology comprised of several applications such as remote sensing, satellite navigation systems (Global Positioning System) and satellite communication systems.
These applications can be useful to the diverse development segments of the African Development Bank (ADB) and African Export-Import Bank (AFREXIMBANK). These sections include agriculture & agri-business, economic and financial governance, infrastructure, transport, energy and power; environment; climate change; health; project and export development; and structured trade finance. Space journalism can advance the efficiency of ADB and AFREXIMBANK businesses and successfully address issues that cut across their regional integration projects.
Based on this understanding, ADB and AFREXIMBANK can utilize the space expertise in implementing some of their projects, promote quality service delivery, improve performance as well as achieve their aims and objectives. This research paper provides an outline of goals that can be accomplished through the use of space journalism by ADB and AFREXIMBANK. It further illustrates how effectiveness and improved performance can be achieved in regional banking through the use of space journalism technology.
The African Development Bank was founded in 1963 in Sudan after the signing of an accord by the founding twenty-three member nations. It was established for the rationale of promoting trade and industry and societal progression efforts on the African continent. The Bank's Group consists of three units: the African Development Bank (AfDB) which is the parent organization, the African Development Fund (ADF) which was established in November 1972 by the African Development Bank and thirteen non-African nations; and the Nigeria Trust Fund instituted in 1976 by Federal government of Nigeria. At the end of May 2015, the bank’s connection consisted of 54 African nations and 26 non-African nations.
Akinwumi Adesina was designated as the 8th President of African Development Bank and took up the position on 1st September 2015. In his acceptance speech, he reaffirmed the determination of the new management under his leadership to ensure that the bank increase opportunities and disengage possibilities for nations, women, youth, the private sector and the African continent as a whole. The bank plans to initiate a New Deal on Energy for Africa in unlocking its potential in solar, the wind, hydropower and geothermal energy.
Adesina’s also emphasised on the need to develop the private sector to drive the industrialisation of the continent, create employment opportunities for the young, and empower the bucolic populace and women, while elevating millions out of paucity. In his strategy for 2013 to 2022, the bank plan to light up and power Africa, increase food security, improve the lives of the African people as well as integrate and industrialise the African continent.
On the other hand, The African Export-Import Bank was established by African Governments, ADB, African classified and institutional financiers along with non-African fiscal organizations and personal investors in October 1993. The establishment of the bank was for the reason of financing, supporting and intensifying Intra and extra-African trade. Having a share capital of five billion US dollars the bank’s undertaking is to encourage steady growth, diversification and progression of African trade. Additionally, it is a turnover oriented, communally accountable financial institution and a centre of pre-eminence in African trade affairs. Its vision outlook is to be the best trade finance bank for Africa (African export-import bank, 2015).
Dr Benedict Okey Oramah took up his new role as the president of African Export-Import Bank in September 2015. He exemplifies that the challenges faced by the African continent are to build up abilities for dispensation so as to wean itself from reliance on goods sold in foreign countries (African export-import bank, 2015). Some of the new ideas by Oramah’s management are to offer an integrated viewpoint to the Africa’s infrastructure and intra-African trades. The bank strategy is to exploit the mobile technology to build up a policy for the sole purpose of conducting business as well as build up a network of mobile trade that goes beyond banks to telecommunication and the logistics corporations.
Space journalism has been applied by various institutions such as the Asian Development Bank (ADB). The technology used in their various developmental projects and sectors such as crop growing, bucolic growth, and food safety measures; education; energy climate change; and health just to name a few. The Asian Development Bank has executed many of their projects through the application of space technology and geographic information system ever since the 1990s. Later in 2010 Asian Development Bank collaborated with the Japan Aerospace Exploration Agency (JAXA) on disaster management, climate change alleviation and adjustment, reforest observation, as well as water resource administration using space technology. This collaboration was stretched out to take account of agriculture and urban development in 2012. An escalating number of projects have been implemented in the recent years through the use of these technologies.
As exemplified by Fischer and Nijkamp (2012), that the Dutch banking sector utilised the geographical information system in developing FLOAS for resource location problems facing the banking sector.
Therefore, space journalism can be exemplified as a technology comprised of several applications such as remote sensing, satellite navigation systems (Global Positioning System) and satellite communication systems. In this research paper, the primary importance is on how ADB and AFREXIMBANK can rely on remote sensing and geographic information systems as an element of space journalism on its projects so as to enhance and promote better performance and operations on their regional banking.
As defined by Jain (2009) remote sensing is a method that is used to observe the earth’s environment with the aid of sensors or cameras mounted on satellites. It is the science of obtaining spectral, spatial and temporal data. There are three features of the resolution of a satellite picture. The first feature being, the spatial resolution that is a dimension of how many square meters are embodied in a pixel. These kinds of resolution influence how much detail can be gathered in a photograph. The next feature is the temporal resolution, which can be illustrated as the recurring reporting of the environment by the use of a remote sensing system. The third is spectral resolution which is determined by the bandwidths of the electromagnetic radiation of the channels used. Elevated spectral resolutions are accomplished by contracted bandwidths and hence providing correct phantom marks for isolated items with extensive bandwidths ( Jain, 2009)
Therefore, the advantages of remote sensing as demonstrated by Olla (2008) include; the capability to document information for unreachable or hazardous regions; it is relatively cheap in terms of cost per unit of locale. Furthermore, it offers an extensive, objective, recurrent, and episodic facts collection as well as accessibility of chronological data. These advantages facilitate remote monitoring of project locations and economical long-term occasional control of the extensive area essential for growth activities such as ecological scanning and assessment of climate change impact. Remote sensing is predominantly effectual in rising states that fall short of equipment for data acquirement.
- Quote paper
- Ph.D Felix Babatunde Ale (Author), 2015, Space Journalism as a Strategic Tool for Innovation and Improved Performance in Regional Banking, Munich, GRIN Verlag, https://www.grin.com/document/307773