Betway Nigeria Donates 18-Passenger Bus To Community Boxing Gym

Brand Spur
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Betway Nigeria Donates 18-Passenger Bus To Community Boxing Gym

Premium entertainment and gaming brand Betway Nigeria, on Wednesday donated an 18-passenger bus to EliteBox, a boutique boxing gym in Lagos, to provide transportation for club members.

The donated bus will help make transportation and tours for members and trainee boxers easier.

“Betway is happy to support EliteBox Gym in their bid to promote fitness and healthy living in Lagos. We hope that this donation will go a long way in contributing to the general well-being of residents and trainees at the facility,” Betway Nigeria’s Director, Chris Ubosi, said.

Betway Nigeria Donates 18-Passenger Bus To Community Boxing Gym-Brand Spur Nigeria
Betway Nigeria Donates 18-Passenger Bus To Community Boxing Gym-Brand Spur Nigeria

EliteBox revolutionizes training with unique equipment inspired by training methods of boxing greats like Mohammed Ali, Joe Louis, Sugar Ray Robinson, among others.

Executive Chairman, Yangabet, Derrick Kentebe, joined Manager, Retail Channel, Betway Nigeria, Clement Okolie and Agency Manager, Betway Nigeria, Dotun Adepegba to present the bus at EliteBox fitness centre in Victoria Island, Lagos.

Rehia Giwa-Osagie, the founder of EliteBox, says “I founded EliteBox Fitness in May 2016 to provide people with a platform to keep healthy, destress, and also as a way to pick up life skills that include techniques on how to defend oneself. The goal was to improve the boxing culture in Nigeria and have more world champions come out of Africa. I am grateful to the Betway team for supporting us with this bus, and this gesture will go a long way in changing lives”.

Betway Nigeria Donates 18-Passenger Bus To Community Boxing Gym-Brand Spur Nigeria
Betway Nigeria Donates 18-Passenger Bus To Community Boxing Gym-Brand Spur Nigeria

The donation is in continuation of Betway’s community support programme and contribution to healthy living in Nigeria. Since the initiative commenced in March 2021, Betway has donated nearly N10 million worth of fitness and sports equipment across Nigeria.

In April 2021, Betway donated gym equipment to ForeverLiving Fitness and Wellness Centre in Ikorodu to promote fitness and healthy living in the community.

Apple A-Series And M-Series Chip Revenue Soars 54 Percent In Q1 2021

Strategy Analytics
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Apple A-Series And M-Series Chip Revenue Soars 54 Percent In Q1 2021

Apple’s in-house A-series and M-series chip shipments and revenue saw solid double-digit unit and revenue growth in Q1 2021, according to Strategy Analytics Handset Component Technologies (HCT) service report.

“Apple A-Series and M-Series Apps Processor Tracker Q1 2021: Apple Silicon M1 Drives Revenue Surge “, Apple’s revenue from A-series and M-series applications processors jumped 54 percent to $2 billion in Q1 2021. Strategy Analytics estimates that cumulatively Apple shipped $51.0 billion worth of A-series and M-series APs through the end of Q1 2021.

Sravan Kundojjala, author of the report and Associate Directorof Handset Component Technologies service at Strategy Analytics, commented, “Apple believes in controlling the primary technologies used in its devices. Staying true to this, the company designs its semiconductor components, including apps processors, 5G basebands (Intel acquisition), GPUs, flash memory controllers, power management ICs, Bluetooth LE ICs, fingerprint sensors and depth-sensing sensors.

Apple is likely to integrate 5G modem technology into its A-series processors in the future. Since first introducing the A-series processor in 2010, Apple has shipped over 2.8 billion A-series APs cumulatively by the end of Q1 2021. Apple’s iPhone, iPad and Mac devices offer a significant scale to its in-house semiconductor investments. Apple beat the semiconductor industry to market with the first 64-bit Arm mobile processor and became the lead customer to TSMC in advanced semiconductor process technologies such as 7 nm and 5 nm.”

Mr. Kundojjala continued, “iPhones continued to represent the majority of Apple’s processor revenue and accounted for 64 percent of total Apple’s total processor revenue in Q1 2021. The Apple Silicon M1 Arm-based processor, used in Macs and iPads, replaced Intel’s Core microprocessors and reignited mobile computing wars. We estimate that the Apple Silicon M1 processor accounted for over 13 percent of Apple’s total processor revenue in Q1 2021.”

Apple A-Series-Brand Spur Nigeria
Apple A-Series-Brand Spur Nigeria

According to Strategy Analytics’ research report “Apple A-Series and M-Series Apps Processor Tracker Q1 2021: Apple Silicon M1 Drives Revenue Surge “, Apple’s revenue from A-series and M-series applications processors jumped 54 percent to $2 billion in Q1 2021. Strategy Analytics estimates that cumulatively Apple shipped $51.0 billion worth of A-series and M-series APs through the end of Q1 2021.

Sravan Kundojjala, author of the report and Associate Director of Handset Component Technologies service at Strategy Analytics, commented, “Apple believes in controlling the primary technologies used in its devices. Staying true to this, the company designs its semiconductor components, including apps processors, 5G basebands (Intel acquisition), GPUs, flash memory controllers, power management ICs, Bluetooth LE ICs, fingerprint sensors and depth-sensing sensors. Apple is likely to integrate 5G modem technology into its A-series processors in the future.

Since first introducing the A-series processor in 2010, Apple has shipped over 2.8 billion A-series APs cumulatively by the end of Q1 2021. Apple’s iPhone, iPad and Mac devices offer a significant scale to its in-house semiconductor investments. Apple beat the semiconductor industry to market with the first 64-bit Arm mobile processor and became the lead customer to TSMC in advanced semiconductor process technologies such as 7 nm and 5 nm.”

Mr. Kundojjala continued, “iPhones continued to represent the majority of Apple’s processor revenue and accounted for 64 percent of total Apple’s total processor revenue in Q1 2021. The Apple Silicon M1 Arm-based processor, used in Macs and iPads, replaced Intel’s Core microprocessors and reignited mobile computing wars. We estimate that the Apple Silicon M1 processor accounted for over 13 percent of Apple’s total processor revenue in Q1 2021.”

Positive Performance Persists In The Local Bourse, NSE ASI Gains 71bps

Brand Spur
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Positive Performance Persists In The Local Bourse, NSE ASI Gains 71bps

At the end of today’s trading session, the Nigerian Equities market closed in the green as the benchmark index improved by 0.71% to close at 37,907.28 points.

This was mainly due to the buy pressure in bellwether stocks such as NESTLE (10.00%) and MTNN (0.61%). Consequently, the YTD loss improved to -5.87% as market capitalisation increased by  ₦140 billion to close at  ₦19.76 trillion.

The Sectoral Performance strengthened as four of the five indices under coverage improved. The Insurance index, the biggest gainer, rose by 1.30%. The Consumer Goods, Oil & Gas and Banking indices, followed suit, improved by 0.77%, 0.74% and 0.02% respectively. On the flip side, the Industrial index, the only loser under coverage, declined by 0.93%.

Investor sentiment weakened in today’s trading session, as market breadth declined to 1.25x from 2.15x. This was illustrated by the advance of 20 stocks, led by  NESTLE (10.00%) and IKEJAHOTEL (9.92%), and the decline of 16 stocks, led by BOCGAS (-10.00%) and SOVRENINS (-7.14%). Activity level was mixed as total volume declined by 6.68% while the total value improved by 18.37% as investors exchanged about 213.70 million units of shares worth over N3.23 billion respectively.

Fixed Income

There was quiet activity level across the bond yield curve as all the four bond yields under coverage closed flat. The FGN-APR-2023, FGN-APR-2024, FGN-JAN-2026 and FGN-JUL-2030 yields closed at 11.49%, 11.38%, 12.60% and 12.70% respectively.

Treasury bill yields for the 90, 180 and 365-day papers closed at 4.79%, 5.92% and 10.01% respectively.

We expect investor sentiment to be swayed by the search for real positive returns and developments in the fixed income space.

MARKET SNAPSHOT

  • Positive Performance Persists in the Local Bourse, NSE ASI Gains 71bps
  • Quiet Activity Level across the Bond Yield Curve
  • Bearish Performance in Global Stocks
  • Parallel Market Reports at N503/$
  • Bullish Sentiment in African Stocks

Happy New Month Messages, New Month Prayers For July 2021

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Happy New Month Messages, New Month Prayers For July 2021

Welcome to the month of July, the seventh month of the year 2021. A happy new month to you, your friends, and your family from Brand Spur Nigeria.

The first day in every new month, just like the new year, means a lot to many who usually share messages, wishes, greetings, and prayers to their relatives, friends, and colleagues.

The Happy New Month wishes also serve to prepare them for the remaining days in the month of July 2021.

Below are 100 Happy new month messages, new month prayers,  new month wishes to send to your friends and family members

1. May you get to the zenith of life and access every good thing of life this month my dear. You are too loaded to be stranded.

2. The Destiny of sugarcane is to be cut at the time of its sweetness May you not be cut off at the time for u to flourish & Prosper You will Fulfil your destiny in Jesus Name Happy New Month.

3. Wishing you a fabulous new month, a month with new experiences waiting for you. Happy New Month

4. I love to talk to you at this moment, before the start of the new month. Now i am sure, my month will be very good. You are always lucky for me. Happy New Month…

5. May your tomorrow be brighter, May this new month be more successful, I wish this month brings more inspiration and love in your life, Happy new month.

6. Our God is a mighty God. He is the God of each year, God over weeks, and God over year. He will make everything work for you. He will surprise you and give you the best of Happiness. Happy New Month.

7. Just Like the Eagle, You’ll fly Like Gold, You will be Valued Like the Sun, You shall shine bright Like the river, You shall flow unlimited Like the Palm Tree, You shall Flourish and like Money, You shall be Useful. Happy New Month.

8. Always welcome the new day of the new month… As it boosts our capabilities and energies to achieve anything. It brings new hopes, new strength so buckle up for a better future. Happy New Month.

9. With let’s twist a fresh sheet with the perfume of fresh rainwater. Let’s overlook earlier period errors making the punishment for this month. Transfer you these good wishes to carry you trust and joyfulness. Happy New month!

10. Always look forward towards your future. Fill your eyes and heart with motivation, Push yourself and boosts your capabilities to achieve what you want, May you gain confidence and believe in what you do, Wish you a happy Month.

11. Just Like the Eagle, You’ll fly Like Gold, You will be Valued Like the Sun, You shall shine bright Like the river, You shall flow unlimited Like the Palm Tree, You shall Flourish, You shall be Useful. Welcome to a new month.

12. Forget about the days and night, ups and downs, good and bad of the previous month. Its time to launch your hope for the best. Wish you a best New Month ahead.

13. Here is the wish for you for the new upcoming month. May this month be the best and happy month for you. Happy New Month.

14. In this new month, Your Joy will be complete, Victory Songs will not cease from your Mouth and Each New Day will bring you closer to the Fullness of your Destiny.

15. Hey, Buddies, this is the opening day of the new month And it preserves to be a new create of your life as well. Take a lengthy breathing and begin Going advance towards your purpose.Best of good fortune. Happy New Month!

16. Pray to God at the start of the month so that He will help you in every matter of life throughout the month. Have a Nice New Month.

17. Forget the last and welcome new month with whole your heart. May you have sunny days and calm nights ahead. Happy New Month.

18. New month, new challenges, new hopes, new goals…I hope you beat every challenge and achieve your goals this month successfully. Happy New Month.

19. Always look forward towards your future. Fill your vision and mind with motivation, Project yourself and boost your capabilities to achieve what you want, May you gain confidence and believe in what you do, Wish you a happy Month.

20. Life is too short. Enjoy and have fun. Forgive your friends. Love by heart. Laugh out loud. Do everything that makes you smile. Enjoy New Month and Be Cool. Wish you a warm, Sweet and happy New Month. This month, make a plan to spend the quality time with your loved ones and with me too. Happy New Month.

21. Pray for God’s direction at the start of the month so that He will help you in every aspect of your life throughout the month. Have a Nice New Month

22. As the new month begins, Here are my wishes for you: May this month keep you healthy, May you achieve all of your daily targets; May you remain happy and whole; May this month be better than all of the previous months of this year! Happy New Month to you.

23. Forget about the days and night, ups and downs, good and bad of the previous month. Its time to launch your hope for the best. Wish you a best New Month ahead.

24. Happy new month wishes from us! May these days not go to waste, make every second count, and don’t let anyone make you negative or unhappy, because as they say “Happiness is the only thing worth fighting for in your life! Happy New Month my dear”

25. As the new month starts, Here are my wishes for you, May this month keeps you healthy, May you be achieving target every day, May you remain happy the whole, May you learn new things every day, May this month be better than all of the previous months of this year! Happy New Month.

26. As long as there is God in Heaven, you will never know shame but joy everlasting. A happy new month to you.

27. Every spirit working to re-position your destiny shall perish by fire and you shall overcome all challenges in this month.

28. This shall be your best month and the following months shall be better. Enjoy the best of the month!

29. Of all that will testify around you at the end of this month, you shall take the lead. Happy new month to you.

30. Your wealth and miracles will arrive this month, and your peace and joy shall be permanent. Happy birthday to you.

31. As from today, you will rise above limitations and you shall testify to God’s goodness in all that concerns you. Happy new month.

32. Your success this month shall attract celebrations. Watch out for the best. Happy new month.

33. The devil will not hack into the secret of your success this month and forever. Have a blessed month.

34. The evil ones shall not manipulate the password to your JOY and FAVOUR this month. Enjoy the best of the month.

35. YOU and your FAMILY are born to win and rule and so shall your testimony be this month. A happy new month to you and yours.

36. Remain blessed. Remain unshaken. The Lord has got your back this month. A happy new month to you.

37. I see this month answering all your heart desires. Be expectant. Happy new month.

38. This month, your expectations shall not be cut short and your testimony shall not be hindered. Happy new month.

39. In all that you will do this month, God shall be your guide. You shall succeed. Happy new month.

40. Don’t worry about the past months, this month will end in praise. Just be hopeful. Happy new month.

41. As we watch the day unfolds and nobody is able to stop it, so shall your hopes, dreams, and aspirations be unstoppable this month and beyond. Do have a happy new month.

42. By the end of this month, everything will turn around for your good. Watch it and believe it! Happy new month to you dear.

43. In this month and beyond, you shall be a point of reference, a channel of blessings, a symbol of desirable successes and a celebrated achiever. Happy new month.

44. Stay permanently blessed and have a blissful month. It’s your month of joy and laughter. Happy new month, dear.

45. In this new month, the voice that parted the Red Sea shall make a way for you where you think there is no way. Happy new month, dear.

46. The Lord that brought water out of rock will open the doors of unimaginable blessings for you this month and beyond. Happy new month to you and your family.

47. By the grace of God, every unpleasant event shall answer to a miracle this month. Have a blessed month.

48. This month among your peers, fresh testimonies shall be your portion. Enjoy every moment of the new month.

49. This new month and beyond accelerated favour shall locate you and irreversible success shall be your daily experience. Best of the month to you!

50. In this new month and beyond you shall laugh over every situation and tears of sorrow shall never drop from your eyes. Have a blessed month.

51. I Wish you a happy new month with lots of blessings and fulfilments. This new month has a lot of glory for you in-store. What you lost last month you shall regain this month. Happy New Month!

52. This new month shall take back all the negativities of the past months and bestow upon you the abundance of positivities and make your life more fabulous than it was. I wish you the best in this new month.

53. This New Month shall embrace you with loads of love and decorate you with colors Of blessings like a rainbow to make your life worth the best in the world. Happy New Month, dear!

54. If you didn’t achieve what you wished and hoped for last month, don’t worry. Another new month is here for all your unfulfilled wishes and expects to come to past. Happy New Month.

55. Unlike other months, this New Month will not only make you older but will also make you wiser and greater. Welcome to the month of greatness. You are a blessing to me. Happy New Month.

56. New Month, New Hope, New Blessings, New Life, New Fulfilment, New Health New Goals, New Joy, New Songs, and New Challenges. This New month you shall conquer every challenge that crosses your path and achieve your goals. Happy New month.

57. This New Month shall bring a plethora of changes in your life. These changes shall be positive changes. It will move your life to a greater height. I want you to expect everything to turn around for your good. Happy New Month, my dear.

58. Here is another New Month. The newness of the month shall bring you unlimited happiness. This month shall rain blessings on you. This New month shall mark the beginning of God’s work in your life. I wish you a lovely and Happy New month.

59. This New Month you shall be as bright as the moon, you shall shine like the sun. You will be of value like Diamonds. This New Month shall bring you divine blessings. I wish you a pleasant and happy new month.

60. May This New Month Bring you Happiness, Success and a life filled with Peace, Hope, and Togetherness of your Family and Friend. I wish you a Happy New Month.

Happy New Month Of July 2021 Prayers

61. Wishing you a New Month that is Sparking with Fun and Masti, Bursting with Joy and Love, and crackling with Cheers and Laughter! Happy New Month. Have a blast.

62. May this brand New Month discover and make you Fresher, Happier, Healthier, More Joyful, More Cheerful, and More Satisfied. I wish you a Happy New Month.

63. Somethings may be left undone, and some words may be left unsaid. Some feelings may be left unexpressed, but a person like you can never be forgotten. I wish you a Happy New Month.

64. Lighten up your environment with your brightest smiles and make way for cheers with your good deeds this New Month. It’s going to be a month of blessing and fulfillment. May the rest of your days be memorable.

65. May this New Month bring you Happiness, not Tears, Joy and not Sorrow. Always remember that in this New Month, all your problems must meet its end. Have a lovely New Month.

66. May this New Month fill your heart with Love, Hope, Faith, Cheers, Happiness, Tranquility, and peace. I wish you a Happy New Month devoid of pains!

67. In this New Month, may God bless you with style to convert all your dreams which you couldn’t achieve these past months into reality in this New Month. I wish to say a Happy New Month to you.

68. Do away with Hate, Lust, Jealousy, Grudge, Animosity, Greed from your heart this New Month and replace them with Love, Commitment, Support, Compassion, Honesty, and Contentment, I wish you a very Happy New Month.

69. In life, there is a season for everything, a time to be Sad and a time to be Happy. I pray that this New Month brings to you happiness and joy forever and ever. I wish you a lovely New Month.

70. On my way to this month, I met Peace, Happiness, Harmony, Love, Good Health and Joy. They needed a permanent site to erect their structures. So I gave them your address, and I hope they will arrive safely. Happy New Month.

71. May the light of greatness shine upon your life this New Month and fill your days with the blessings of Peace, Happiness, and Goodwill. Happy New Month.

72. I wish you a month of Happiness, Success, Peace, Prosperity, Good Health and Wealth, Also a New Month of Love and Laughter. Happy New Month.

73. May this New Month Open up for you Good Ways, Fill your heart with New Hopes and bring for you Promises of Better Days! I wish you a Happy and Prosperous New Month!

74. I pray that throughout this New Month may your life be filled with the celebration of Happiness and Joy. I wish you a Joyous, Happy and Prosperous New Month with God’s Blessings. Happy New Month.

75. It’s a New Month! I pray that this New Month brings the warmth of love and lead your path of life towards a positive direction that will bring out the best of you. Happy New Month.

76. I Hope this New Month reignites your hopes and courage, alongside the passion and zeal to achieve your desires. I wish you all the best this month could offer. Happy New Month.

77. May this New Month strengthen you with the courage and zeal to conquer your challenges and convert them to positivity. I wish you greater heights this New Month. Happy New Month, dear.

78. In this New Month, may you view the world with a positive outlook, speak your heart out with confidence, listen to others as well as your inner voice and you will be on the right road in the right direction. Happy New Month.

79. May you be blessed abundantly to spend this New Month with your parents, friends and loved ones. Be grateful, and you will have only good things come your way this month. Happy New Month!

80. To put an end to something old, we have to start something new, that is the reason why last month ended for this new month to start. I wish you a Happy and Lovely New Month with a joy-filled heart. Happy New Month.

81. Hope you scatter joy and happiness wherever you go this New Month and get the same in return. I wish you greatness and more grace this New Month. Happy New Month to you!

82. Every New Month gives us the perfect opportunity to start something new and fresh. So do your bit this New Month and make the world a better place for yourself and others. Happy New Month!

83. May God bless you and keep you protected and in good health so that you can witness many more such New Months! But first of all, enjoy this New Month and stay happy! Happy New Month, my dear.

84. Even though last month presented to you various obstacles and hurdles, be proud that you managed to overcome all and cross the bridge to another New Month. May you continue to be this firm and win over all your shortcomings. Happy New Month.

85. May this New Month bring you a peace-filled life, warmth, and togetherness in your family and much prosperity! Happy New Month!

86. When the New Month arrives, it brings along sets of new ideas and ways to make our lives from good to better and ultimately from better to best. Happy Lovely New Month.

87. I wish that this New Month turns out to be an exceptional one for you, filling each day with a peak of health, an abundance of happiness and sunshine, bountiful luxury and prosperity and Zen-like serenity.

88. May God spread the peace all around and bring success to you and everyone around your life this New Month. Happy New Month.!

89. May you experience the delight of love that will calm all tears away, bring genuine companions to stroll close to you, through every single day of this New Month. Happy New Month!

90. May this New Month be brighter than the past one, enveloped in goodness and wellbeing, bliss and endowments. Happy New Month.

91. Let this New Month give you all the strength and courage to conquer Negativity and convert them to enhance your positivity. Happy New Month.

92. In this New Month may we continue to share the genuine relationship that adds happiness and brings warm blessings to our lives. Happy New Month.

93. Have it at the back of your heart that each day of the New Month would keep making your good to get better and your better to become best. Happy New Month.

94. In this New Month, I wish you to have the zeal and courage to struggle and achieve your dreams and also may the blessings of the Almighty help you emerge a conqueror as you strive. Happy New Month.

95. May this New Month be filled with adoration, happiness, and cheers, and may you pass them on to those who live around you too. Happy New Month.

96. Just like a new bloom spreads fragrance around, let this New Month also fill your life with Happiness, Cheers, Joy, and Hope. Happy New Month!

97. Learn from your mistakes in the past months so that you can avoid them in this New Month. My wish for you this new month is for things to go your way and keep that awesome smile on your face all through the New Month.

98. The old month is gone and a New Month is just right in front of us. May you meet all the opportunities that it has to offer so you can use them in gratifying your hopes and desires. Happy New Month.

99. This New Month may you always be at war with your vices and peace with your virtues and may each day of this New Month make you a better and more exceptional person. Happy New Month.

100. We are already in a New Month. As you look forward to witnessing the glory of this New Month, may It bring with it more fulfilled promises. Happy New Month!

Please note that the messages contained in this article were not by this author but were taken from different sources and edited where necessary.

Guinness Nigeria Announces the Resignation of Stanley Njoroge from its Board

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Guinness Nigeria Announces the Resignation of Stanley Njoroge from its Board

Guinness Nigeria, a subsidiary of Diageo Plc, and a leading total beverage alcohol company in Nigeria has announced the resignation of Mr. Stanley Njoroge from the Board of Guinness Nigeria Plc with effect from 31st July 2021.

Mr. Stanley Njoroge, who until his resignation served as the Finance and Strategy Director, was appointed to the Board of Guinness Nigeria Plc as an Executive Director in March 2018.

Recall that on December 31, 2020, Guinness Nigeria also announced the resignation of Mr. Bismarck Jemide Rewane from its board. Mr. Bismarck Jemide Rewane, who until his resignation served as the Chairman of the Finance, Audit and Risk Committee of the Board, was appointed to the Board of Guinness Nigeria Plc as a Non-Executive Director in 2008.

Guinness Nigeria
Stanley Njoroge | Brand Spur Nigeria

The Board of Guinness Nigeria thanks Mr. Stanley Njoroge for his service and contribution to the growth of the company and wishes him all the best in his future endeavours.

Mr. Stanley Wanyoike Njoroge is a Certified Public Accountant and a member of the Institute of Certified Accountants of Kenya (ICPAK). He is an alumnus of both the University of Nairobi and Strathmore University in Nairobi, Kenya.

Stanley’s initial experience was in tax advisory with Deloitte & Touche East Africa, providing tax consultancy and managing tax clients in Kenya and Uganda. He also led several tax training sessions across Africa including in Lagos.

Stanley joined Diageo in 2008 as the Tax Manager in East Africa Breweries Limited (EABL) and expanded his experience within the wider finance Within Diageo, he has held a number of key finance leadership roles across Asia and Africa including Financial Controller of EABL, Finance Director of PT Gitaswara Indonesia and Finance Director of Meta Abo Brewery SC/Diageo Ethiopia.

In his most recent role as the Diageo Global Audit and Risk Director, Africa and Europe, he was responsible for providing assurance to the audit committee of Diageo Board of Directors on the management of key risks across Diageo’s businesses in Africa (Nigeria, East Africa, South Africa, African Regional Markets) and across Europe markets.

Federal High Court Approves Merger Between CAP And Portland Paints Nigeria

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Federal High Court Approves Merger Between CAP And Portland Paints Nigeria

Portland Paints and Products Nigeria PLC (Portland Paints) has announced the approval of the scheme of merger between Portland Paints and Chemical and Allied Products Plc (CAP) at the respective court-ordered meetings of Portland Paints and CAP held on February 18, 2021, the Federal High Court of Nigeria, on June 29, 2021, granted an order sanctioning the Merger. The Merger will become effective on Thursday, July 1, 2021.

Consequently, CAP and Portland Paints will from the Effective Date, legally operate as one entity, CAP (being the surviving enlarged entity). Portland Paints will be dissolved without being wound up.

portland paints Chemical and Allied Products Board Meets for Q3 Results, Begins Closed Period

The respective Boards of Portland Paints and CAP strongly believe that the Merger, which provides a unique opportunity to change the Nigerian paints and coatings landscape, is value accretive to shareholders of both companies; and will drive growth and expansion within the Nigerian and African markets.

Subject to the approval of the Exchange, the shares of Portland Paints will be placed on full suspension with effect from the close of business on June 30, 2021, is the business day immediately preceding the Effective Date and the date on which the register of members of Portland Paints will be updated for the purpose of determining the shareholders eligible to receive the scheme consideration.

Transcorp Energy Presents Alternative Energy Solution to Nigeria

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Transcorp Energy Presents Alternative Energy Solution to Nigeria

June 30, 2021, Transcorp Energy Limited, a subsidiary of Transnational Corporation of Nigeria Plc, has presented an alternative energy solution to Nigeria as part of its integrated energy strategy.

Unveiling the Company’s alternative energy plan at a meeting with the Honourable Minister of Science & Technology, Dr. Ogbonnaya Onu, Mr. Peter Ikenga, the Head of Transcorp’s Energy business said it will unlock greater value in the power sector.

Speaking at the event, Mr Ikenga stated that Transcorp Energy was seeking to collaborate with the Federal Government, through the Federal Ministry of Science and Technology, to develop nuclear power plants as alternative energy sources for power generation in Nigeria using the OPEN100 model.

Transcorp and Efora Settle Legal Disputes on OPL 281NSE Approves Transcorp Hotels’ Free Float Compliance Extension Request Brandspurng1

Mr. Ikenga in his remarks said, “this project is transformative and a first in Nigeria and would radically change the way nuclear power plants are deployed, offering a substantially less expensive and less complicated solution. It will further provide the country with a reliable and sustainable energy source, devoid of some of the challenges hampering stable and reliable power generation in Nigeria.”

The Honourable Minister of Science and Technology Dr. Ogbonaya Onu, while welcoming the Transcorp team, reiterated the commitment of the government to promote the application of science, technology and innovation within Nigeria, in line with Executive Order No. 5 of the Federal Government.

“We are delighted to see this innovation and appreciate Transcorp for leading the charge in the industry with this initiative. The approach by Transcorp to use small scale nuclear plants is catalytic for achieving the national goals on Science and Technology”, he stated.

The Minister further affirmed the commitment of the Federal Government, particularly the Ministry of Science and Technology to support Transcorp in the laudable venture and directed that a joint committee comprised of Transcorp, and all the relevant stakeholders be set up immediately to jointly manage the execution of the project.

transcorp

The OPEN100 is the world’s first open-source blueprint for nuclear power plant deployment for a small, standard, pressurized water reactor that will accelerate deployment of the modular nuclear plants for power generation.

Transcorp Energy Ltd, a subsidiary of Transnational Corporation of Nigeria Plc. is a leading energy company, engaged in upstream petroleum development and spearheading innovation in alternate energy sources. Transcorp Energy Ltd. is the operator of OPL 281 asset located in the Niger Delta.

Flour Mills Nigeria Plc Reports a 126% Increase in Profit to N25.72Bn

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Flour Mills Nigeria Plc Reports a 126% Increase in Profit to N25.72Bn

Flour Mills of Nigeria Plc (FMN) demonstrates a strong performance and resilience in a challenging year to capture first signs of economic recovery with accelerated Q4 growth vs last year (Q4’21 vs Q4’20: Revenue +44%, EBT +158% and PAT +211%).

The Group delivers impressive FY top-line growth across all business segments with an average revenue growth of 34%, led by growth in Agro-allied combined with investments in route-to-market and accelerated expansion in the B2C segments. Profit After Tax reached N25.7 billion, up from N11.4 billion in 2019/2020 (127% YoY Growth).

Flour Mills Leadership is consistently focused on strong discipline in operational and capital efficiency by increasing local content in group-wide supply chains and supporting backward integration programs across all value chains.

Flour Mills of Nigeria: Revenue from the sales of Sugar increased by 29.47% to ₦58.19bn

Acceleration in B2C segments with new product offerings such as Auntie B Spaghetti Slim and Spaghetti, as well as the introduction of new SKUs in key categories, along with investments in regional distribution.

Successfully issued N3Obn corporate bond with a tenor of 5 and 7 years at 5.50% and 25% respectively to replace expensive short-term facilities.

Operational Review

The Group achieved impressive topline growth for the year, aided by gains from our Agro-allied turnaround strategy. Our backward integration program has been expanded across all value chains, including strategic partnerships with smallholder farmers, resulting in an average revenue gain of 34% across all business sectors.

Our food business grew organically, driven by constant product innovation and transformation ‘new markets, as well as operational efficiency through route-to-market investments and rapid expansion in the B2C sectors.

We successfully issued N30 billion incorporate notes with tenors of 5 and 7 years at 5.50 percent and 6.25 percent, respectively, to replace costly short-term facilities.

Commenting on the result, Omoboyede Olusanya, the Group Managing Director, said:

“Flour Mills emerges from the prevailing COVID-19 environment as a stronger, more resilient, flexible, and confident business as a result of the collective strategic actions made over our 60-year history. I want to thank all our employees for their patience and hard work as we consistently adapted to the year’s challenges and invested significantly in our purpose of feeding the nation every day.

FMN is now harvesting the fruits of these efforts and remains committed to braving a continuously uncertain environment with cautious optimism, innovation, portfolio advancement and other strategies outlined in our recent sustainability report.”

Shell And Rolls-Royce Set To Accelerate Progress Towards Net-zero Emissions

Brand Spur
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Shell And Rolls-Royce Set To Accelerate Progress Towards Net-zero Emissions

Shell and Rolls-Royce today signed a memorandum of understanding (MoU) that aims to support the decarbonization of the aviation industry and their progress towards net-zero emissions.

The long-term agreement builds on more than a century of cooperation between the two companies and embodies a shared perspective that collaboration across the aviation value chain is necessary for the decarbonization of the sector.

In recognition of the scale of the challenge, the MoU will expand and accelerate several existing areas of cooperation between the companies such as advancing the use of SAF. This includes Rolls-Royce’s new SAFinity service, for which Shell is the exclusive SAF supplier, and working together on demonstrating the use of 100% SAF as a full “drop-in” solution. This will see the companies explore opportunities to help progress the use of 100% SAF towards certification, building on Rolls-Royce’s ongoing 100% SAF testing programme.

“The heritage of collaboration between Rolls-Royce and Shell is a strong foundation for the future, particularly when it comes to our shared ambitions for achieving net-zero emissions,” said Anna Mascolo, President, Shell Aviation.

“Being from different parts of the aviation value chain means Rolls-Royce and Shell bring complementary expertise, experiences and ideas to the table. Wide-ranging cooperation can drive new solutions that will help the aviation industry and our customers navigate a pathway to net-zero.”

“Supporting the decarbonization of aviation while continuing to enable progress in flight are goals that Rolls-Royce and Shell both share,” said Paul Stein, Chief Technology Officer at Rolls-Royce. “We believe that working together on these aims can deliver benefits for both the development of new innovations as well as collaborating to find ways to unlock the net carbon emissions reduction potential of technology that is already in use today.

“SAFs will not only power large aircraft and business aviation, but also hybrid electric Urban Air Mobility (‘Flying taxis’) and the forthcoming generation of hybrid fixed wing city hoppers, which is why we place such importance on the ramp up of SAF adoption across the industry.”

The MoU will explore opportunities for Shell and Rolls-Royce to provide decarbonisation solutions to meet their respective targets to achieve net zero emissions by 2050. This will include both companies contributing technologies and expertise to help reduce operational emissions.

Shell will assess opportunities to support Rolls-Royce in reducing travel emissions through the supply of SAF, while Rolls-Royce will lend its technical expertise to advise Shell in the development of its new fuel, as well as innovative low carbon energy alternatives for new aircraft and power systems.

The MoU will also set the foundation for Rolls-Royce and Shell to work together to proactively engage industry bodies and forums to progress strategic policy issues and address existing barriers associated with the aviation sector’s pathway to decarbonization. As part of this, Rolls-Royce and Shell also expect to work closely with stakeholders from across the aviation community to help support wider progress towards net zero.

As part of the MoU, Rolls-Royce and Shell will assess broader opportunities for cooperation across aviation as well as infrastructure in other mobility sectors such as shipping and rail.

Stanbic IBTC Gets GCR’s “AA+” Rating With Stable Outlook

GCR Ratings
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Stanbic IBTC Gets GCR’s “AA+” Rating With Stable Outlook

A leading rating agency in Africa, Global Credit Ratings (GCR) has upgraded the national scale long term credit ratings accorded to Stanbic IBTC Bank PLC’s Structured Note Programme (SNP) 2 Series 1 Senior Unsecured Notes to AA+(NG) from AA(NG), with a Stable Outlook.

Issue Rating class Rating scale Rating Outlook
N30bn Series 1 Senior Unsecured Long term issue National AA+(NG) Stable

Rating Rationale

Stanbic IBTC Bank PLC’s (Stanbic IBTC) national scale long term Issuer rating was recently upgraded to AA+(NG) from AA(NG), underpinned by its sustained adequate capitalisation and sound asset quality amidst the strains in the operating environment. Given the status of the N30bn Series 1 Notes as senior unsecured, the accorded long term issue rating has been upgraded to AA+(NG) from AA(NG), reflective of the one-notch upgrade in the Issuer‘s rating.

GCR Stanbic IBTC Holdings PLC Announces the Establishment of its wholly-owned Life Insurance Subsidiary

Stanbic IBTC’s SNP 2 Series 1 senior unsecured Notes of N30bn was issued in December 2018 under the N150bn SNP. Particularly, the SNPs Trust Deeds permit the Issuer to exercise its discretion in determining the number of issues, as well as the forms, terms and conditions of the Notes to be issued under the SNPs.

Accordingly, the SNP Notes constitute direct, senior unsecured obligations of the Issuer. The Series 1 Notes constitute senior, direct, irrevocable, and unsubordinated obligations of the Issuer, and shall rank pari passu without any preference among themselves and all unsecured and unsubordinated indebtedness and monetary obligations of the Issuer, present and future, but in the event of insolvency, only to the extent permitted by applicable laws relating to creditors’ rights.

Being senior unsecured debt, the Notes bear the same probability of default as the Issuer and would reflect similar recovery prospects to senior unsecured creditors in the event of a default.

According to the period performance reports provided to GCR by the Trustees to the Noteholders, dated 18 June 2021, the Issuer has been meeting all its obligations under the Note issues on a timely basis so far, with total coupon payment till date amounting to N11.8bn.

Outlook Statement

The stable outlook reflects GCR’s expectation that Stanbic IBTC’s financial profile would remain resilient despite the strains in the operating environment. We anticipate a strong GCR core capital ratio, underpinned by solid internal capital generation and adequate loan loss reserves.

Credit losses and NPL ratio are expected to be sustained at a strong range, albeit with the loan book concentration by obligor and FCY anticipated remaining high. We also factored inadequate liquidity on account of the highly liquid balance sheet.

Rating Triggers

The accorded ratings would be sensitive to a positive rating action on the Issuer. Non-compliance with the set covenants or a downgrade in the Issuer’s rating could trigger a negative rating action.

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