Ellah Lakes Signs Agric Deal with KJM Trading Ghana to Establish Subsidiary

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Ellah Lakes Signs Agric Deal with KJM Trading Ghana to Establish Subsidiary

28 June 2021 – Ellah Lakes Plc. (Ellah Lakes) today announces the signing of a Memorandum of Understanding (MoU) with KJM Trading Limited Ghana (KTLG) for business development collaboration in Ghana.

Under the terms of the MoU, the parties will set out the broad framework of their intention to work together to facilitate the development of Ellah Lakes’ business interests and operations in Ghana. This is part of the strategic plan to establish a presence in three other Anglophone countries in West Africa, starting with Ghana.

Ellah Lakes Plc Announces the Resignation of Frank Ellah as a Director

KJM Trading Ltd. is a private limited liability company incorporated under the laws of Ghana, focused on the enhancement of agricultural value chains with operations and a network across Nigeria and Africa. KJM Trading Ltd. renders services such as clearing, warehousing as well as haulage and transportation, which are designed to meet the global needs of import and export businesses.

In addition, the company imports products for sale to their vast network of buyers and suppliers across Africa and have strong partnerships with local farmers for direct distribution of products to the local and -foreign market.

Speaking on the proposed collaboration, Mr. Chuka Mardi, Chief Executive Officer/Managing Director said,

“Ellah Lakes is very pleased to commence this strategic partnership with KJM Trading Ltd. This is the first stage of our planned West African dominance and Ellah Lakes Ghana, a subsidiary of Ellah Lakes Plc will be set up as a result of this partnership.

Under this partnership, Ellah Lakes will also kick off the process of securing 20,000 hectares of arable farmland in Ghana. We are certain that this partnership will strengthen and advance the transformation agenda of the Company.”

Commenting, Mr. Emmanuel Kojo Jones-Mensah, Chief Executive Officer of KJM Trading Ltd_ said,

“At KTLG, we aim to build a prosperous agriculture chain in Africa. We are excited to be part of this next chapter of Ellah Lakes growth and look forward to putting our expertise and experience to use for a successful partnership”

The agreement between the Company and KTLG is subject to negotiation and execution of definitive documentation in more detail with the terms of their collaboration.

Mamuda Group Unveils Pop Cola Drink, Signs Ahmed Musa As Brand Ambassador

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Mamuda Group Unveils Pop Cola Drink, Signs Ahmed Musa As Brand Ambassador

The Kano state-based Mamuda Groups of Companies has unveiled the Pop Cola carbonated soft drink in its new factory in Kano State.

Speaking during the factory commissioning, the Chairman and CEO of the group, Mr Hassan Hammoud, said the diversified business conglomerate has its main sectors as beverages, sacks, mat, foods, tanneries, leather and power plant.

pop cola pop cola

The Chairman further reiterated that the ongoing unveiling of Mamuda Beverages Limited and signing the Nigerian Super Eagles Captain Ahmed Musa as Pop Cola’s brand ambassador is a testament to Mamuda Groups of Company’s commitment to economic growth of Kano and Nigeria as a whole.

pop cola pop cola

pop cola

According to him, the success and growth of Mamuda group and its businesses can be attributed to the consistency of its standards and strategies.

Revealing the organisation diversification efforts in concrete terms, Mr. Hammond revealed that as part of Mamuda Groups of Company’s drive-in consolidating the efforts of Kano state and the federal government’s in transforming our economy through economic diversification which involves transfiguring the Agricultural sector, the group now consists among others, Mamuda Agro Sacks & Mat.

pop cola

The manufactures of high-quality Sacks & Mat not only contributes to packaging milled and processed crops especially Rice, but it also plays a role in Nigeria’s exportation drive, he added.

As a supporter of the government’s backward integration policy, Mamuda Groups of company sources its raw materials locally, while also helping in improving Nigerian made products, export and jobs provision.

Aluminium Extrusion Industries Announces the Resignation of 3 Directors

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Aluminium Extrusion Industries Announces the Resignation of 3 Directors

The Board of Directors of Aluminium Extrusion Industries Plc hereby announces the Resignation of its three (3) Non-Executive Directors following to NGX Regulation Limited and the General Public:

Resignation- Chief (Dr) Jinesh Chandra Dugad

The resignation of Chief (Dr) Jinesh Chandra Dugad, as Non-Executive Director of the Company effective July 20, 2020, was approved by the Board at its meeting of March 20, 2021.

Aluminium Extrusion

Resignation- Mr. Vivek Goel

The resignation of Mr. Vivek Goel, as Non-Executive Director of the Company was approved by the Board at its meeting of March 20, 2021.

Resignation- Mr. Prasanta Kumar Ganguly

The resignation of Mr. Prasanta Kumar Ganguly, as Non-Executive Director of the Company effective August 7, 2020, was approved by the Board at its meeting of March 20, 2021.

Aluminium Extrusion Industries Plc is a leading manufacturing company in Nigeria producing and marketing extruded aluminium products and coloured and wood products.

Products in its extensive range include Cego flyscreens; projected window systems for institutions in the education, government, military and commercial sectors; industrial door systems designed for versatility and performance; partitioning systems with robust wear and tear features; multi-purpose stock extrusions for the maritime, aviation and construction sectors; swing door systems for commercial entrances; sliding window systems with removable operating sashes and bead-glazed; fixed louvres with fabricated railings; special provides available in round bars, T-sections, symmetric and square aluminium frames; curtain walls attached to building structures; AS46 flyscreens and customised fixed casements (windows and doors).

The company has an annual capacity of 5 000 tonnes of aluminium extrusion products and produces profiles in a pressed finish, wood finish, silver and bronze colour palette and modern powder-coated forms. The company has operations in Aba Abuja to serve the eastern and northern regions of Nigeria. Its head office is in Imo State, Nigeria.

AREWA24 Celebrates Anniversary With New Programming

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AREWA24 Celebrates Anniversary With New Programming

AREWA24, the leading Hausa language entertainment and lifestyle television channel and production studio in Nigeria and West Africa, celebrates its 7th anniversary by giving its viewers the largest slate of new Hausa-language programming in the channel’s history.

AREWA24’s new slate of programming debuts in July, with new original dramas, a new women’s talk show, new kids’ “edutainment” series, fresh football shows alongside AREWA24’s other popular hit dramas and studio shows.
Many of these new shows will also be immediately available on AREWA24 On Demand, the channel’s global subscription-video-on-demand service connecting Hausa-speaking families around the world to Northern Nigerian entertainment, culture, and lifestyle.
AREWA24 Celebrates Anniversary With New Programming-Brand Spur Nigeria
AREWA24 Celebrates Anniversary With New Programming-Brand Spur Nigeria
New seasons of AREWA24’s original runaway hit drama series, Kwana Casa’inand Dadin Kowa, are currently in production and will premier in October.
AREWA24’s new slate of programs leads with three new Hausa dramas:  Buka Afrikana, an ensemble situation-comedy set in a local Nigerian Middle Belt diner, or “Buka.”Labarna-Season-3, the newest season of one of the most popular Northern Nigerian hit drama series, and Sirrin Boye, a new Hausa mystery and crime drama.  
Also launching in July is AREWA24’s new ground-breaking women’s talk show, “Mata A Yau” (Today’s Woman”), featuring four dynamic co-hosts from different backgrounds and ages, openly discussing important issues women are currently facing today in Northern Nigeria.
AREWA24 Celebrates Anniversary With New Programming-Brand Spur Nigeria
AREWA24 Celebrates Anniversary With New Programming-Brand Spur Nigeria
AREWA24’s CEO, Jacob Arback, reflecting on the company’s growth over the past seven years, gives all the credit to the company’s management and staff and to the tremendous talent in the Northern Nigerian television, media, and creative arts sectors.
“Many people don’t realize that there are over 80M Hausa speakers in Northern Nigeria and the Sahel, and the region is bursting everywhere with young talent.  
Arback adds, “what I am most proud of, however, is how our management and staff, comprised of such diverse Nigerian backgrounds, ethnicities, tribes, religions and geographics, can all gather as a team in Kano, Nigeria, to produce some of the best programming coming out of Africa today,” he said.
AREWA24 is also expanding its kids’ entertainment and education programming in July, dubbing into Hausa for the first time ever the multi-award-winning “Sesame Street Friends,” with all of your favorite Sesame Street characters, sketch comedy, animation and puppetry.  
AREWA24 Celebrates Anniversary With New Programming-Brand Spur Nigeria
AREWA24 Celebrates Anniversary With New Programming-Brand Spur Nigeria
Also debuting in Hausa on AREWA24 is Super Sema, the first African kids’ superhero animated series about an ordinary young girl on an extraordinary mission to protect her African village from a heartless villain and his army of pesky robots.
The Oscar-winning actress, Lupita Nyong’o, is a voice actress on the Super Sema series and is also a partner in the Nairobi-based Super Sema production company, Kukua.  
AREWA24 Celebrates Anniversary With New Programming-Brand Spur Nigeria
AREWA24 Celebrates Anniversary With New Programming-Brand Spur Nigeria
Keeping our avid Nigerian football fans happy, AREWA24 is rounding out its July new program launches with two new football series: “Homage, and “Perfection.”

2021 African Banker Awards: FBNQuest Wins Award for Equity Deal of the Year

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2021 African Banker Awards: FBNQuest Wins Award for Equity Deal of the Year

FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc, emerged as the winner of the Equity Deal of the Year category at the 2021 African Banker Awards.

The award was in recognition of the key role the organisation played as the adviser on the privatisation of Afam Power Plc and Afam Three Fast Power Limited for the Bureau of Public Enterprises on behalf of the National Council on Privatisation. This affirms the organisation’s strong performance as a leading Investment Bank.

The African Banker Awards has become one of the most respected and recognised industry events celebrating achievements in the African banking industry. The organisers of the award, this year put emphasis to recognise and reward institutions that contributed to the real economy which has suffered from the impact of COVID-19 as well as contributed to women empowerment on the continent.

Post-Lockdown Bounce, FBNQuest

FBNQuest Merchant Bank acted as the Financial Adviser & Consortium Lead on the privatisation of Afam Power and Afam Three Fast Power transaction. The transaction provided an opportunity to add to the organization’s impressive portfolio and highlight its capabilities for the successful execution of sizeable transactions.

The successful completion of the transaction represents a landmark achievement in the Nigerian economy and the continuous commitment to the reformation of the Power sector in the country, by allowing the private sector to bring effectiveness and efficiency, thus leading to increased advancement in the sector.

Commenting on the award, Patrick Mgbenwelu, Group Executive/Head Investment Banking and Operations stated that,

“FBNQuest remains committed to consistently providing financial solutions that will enable our clients to make a difference, and we are honoured to be recognized by the African Banker, which is a reflection of the quality of support we give our clients,”.

FBNQuest Merchant Bank has maintained a consistently strong position in the investment banking sub-sector in Nigeria, with a rich pedigree in offering alternatives to traditional bank debt products and a reputation for the successful execution of several big-ticket capital markets and commercial debt transactions.

The Advisory and Debt Capital Markets teams have advised on several landmark domestic and cross-border transactions, successfully raising equity and debt from the public and private capital markets.

Nigerian Exchange Limited (NGX) Rebrands Market Indices

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Nigerian Exchange Limited (NGX) Rebrands Market Indices

Nigerian Exchange Limited (NGX) is pleased to announce the rebranding of all its existing indices by changing the prefix from NSE to NGX. The transition, which is effective Monday, 28 June 2021, leverages the new brand identity of the Exchange.

There are currently nineteen (19) indices – either wholly-owned or co-branded – on NGX, servicing the investment management community along the lines of product development, benchmarking.

Below are the changes to the indices nomenclature:

S/N Existing Name New Name
1 NSE All-Share Index (ASI) NGX All-Share Index (ASI)
2 NSE-Main Board Index NGX-Main Board Index
3 NSE 30 Index NGX 30 Index
4 NSE CG Index NGX CG Index
5 NSE Premium Index NGX Premium Index
6 NSE Banking Index NGX Banking Index
7 NSE Pension Index NGX Pension Index
8 NSE Insurance Index NGX Insurance Index
9 NSE ASeM Index NGX ASeM Index
10 NSE-AFR Bank Value Index NGX-AFR Bank Value Index
11 NSE AFR Div Yield Index NGX AFR Div Yield Index
12 NSE MERI Growth Index NGX MERI Growth Index
13 NSE MERI Value Index NGX MERI Value Index
14 NSE Consumer Goods Index NGX Consumer Goods Index
15 NSE Oil/Gas Index NGX Oil/Gas Index
16 NSE Lotus Islamic Index NGX Lotus Islamic Index
17 NSE Industrial Goods Index NGX Industrial Goods Index
18 NSE Growth Index NGX Growth Index
19 NSE Sovereign Bond Index NGX Sovereign Bond Index

 

The recent demutualisation led to the transformation of The Nigerian Stock Exchange to a non-operating holding company, Nigerian Exchange Group Plc. (NGX Group). Consequently, The Group now has three wholly-owned operating subsidiaries, namely: Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX RegCo), the independent regulation company; and NGX Real Estate Limited (NGX RelCo), the real estate company.

NGX

Consequently, the rebranding of the indices is in line with NGX’s drive to standardise and ensure consistent expression of the brand across touchpoints. From today, all indices from Nigerian Exchange Limited will be rebranded with a pre-fix, NGX, to promote brand awareness and recognition. Market players should however note that this exercise will not affect the computation methodology of the indices.

As NGX continues to provide a platform for investors and issuers to meet their various investment objectives, this rebranding effort is a testament to NGX’s commitment to providing an efficient market that reflects available information.

Designed using the market capitalisation methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July.

The Local Bourse opens the Week in Red, NSE ASI Sheds 19bps

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The Local Bourse opens the Week in Red, NSE ASI Sheds 19bps

The Nigerian Equities market closed in bearish form at the end of today’s trading session as the benchmark index declined by 0.19% to close at 37,585.25 points. This was mainly due to the selling pressure in bellwether stocks such as CONOIL (-4.31%) and ZENITH BANK (-0.63%). Consequently, the YTD loss worsened to -6.67% as market capitalization declined by  ₦37 billion to close at  ₦19.59 trillion.

The Sectoral Performance was mixed as two of the five indices under coverage improved, Oil and Gas index weakened by 0.40% while the Consumer Goods and Banking indices closed flat at 571.60 and 365.83 points respectively. The Insurance and Industrial indices,, the gainers, improved by 0.20% and 0.10% respectively.

Investor sentiment weakened in today’s trading session, as market breadth declined to 0.72x from 2.50x. This was illustrated by the advance of 13 stocks, led by  IKEJA HOTEL (10.00%) and FIDSON (7.91%), and the decline of 18 stocks, led by BOCGAS (-9.95%) and ROYALEX (-7.94%).

Activity level was mixed as total volume declined by 19.35% while the total value improved by 42.60% as investors exchanged about a 163.50million units of shares worth over an N3.44billion respectively.

Local Bourse

Fixed Income

The activity level was quiet across the bond yield curve as three of the four bond yields under coverage closed flat except the FGN-JUL-2030 yield that increased by 0.15%. The FGN-APR-2023, FGN-APR-2024 and FGN-JAN-2026 bond yields closed flat at 11.49%, 11.88% and 12.60% respectively.

Treasury bill yields for the 90, 180 and 365-day papers closed at 4.79%, 5.93% and 9.68% respectively.

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

MARKET SNAPSHOT 

  • The Local Bourse opens the Week in Red, NSE ASI Sheds 19bps
  • Quiet Activity Level across the Bond Yield Curve
  • Bearish Performance in Global Stocks
  • Parallel Market Reports at N502/$
  • Bearish Sentiment in African Stocks

TCL Communication Adds New Affordable Smartphones To Alcatel 1 Series Line-Up

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TCL Communication Adds New Affordable Smartphones To Alcatel 1 Series Line-Up

TCL, one of the leading technology companies, today unveiled two additions to its Alcatel 1 Series smartphone line-up.

The Alcatel 1L Pro and Alcatel 1 (2021) join the affordable 1 Series range, which delivers reliable smartphone performance for endless entertainment.

“Our new Alcatel 1 Series smartphones are outstanding examples of how TCL continues to deliver phones that meet and exceed the needs of consumers,” said Stefan Streit, Chief Marketing Officer at TCL Communication.
“We’re constantly developing new offerings that build moments of joy for everyone. Our 1 Series phones perfectly demonstrate our commitment to deliver most affordable smartphones with great value.”
TCL Communication Adds New Affordable Smartphones To Alcatel 1 Series Line-Up-Brand Spur Nigeria
TCL Communication Adds New Affordable Smartphones To Alcatel 1 Series Line-Up-Brand Spur Nigeria
The Alcatel 1L Pro is designed to help people instantly connect and share their experiences with friends and family. A powerful, Octa-core processor is supported by 2GB of RAM, driving snappier performance that users can depend on to stream high-quality content or handle intensive tasks with ease.Android™ 11 (Go edition) lets users launch applications 20 percent faster than with the previous version while enjoying new data-saving and privacy enhancements.
Meanwhile, biometric security options, including Face Unlock and Fingerprint Unlock, keep the phone secure while making it easy to quickly access apps.
Beautiful photography is even easier, thanks to a 13MP AI camera. This rear lens is paired with a 2MP depth lens, helping social media fans achieve a professional-looking blurred background. Meanwhile, AI Scene Detection can automatically choose one of 12 options to enhance colour and saturation for even better photos.
Both front and rear cameras are HDR-enabled, for more vivid colours, sharp details and attractive pictures, and the front camera’s Face Beauty feature helps with final adjustments to your selfies.
The Alcatel 1L Pro’s 32GB of internal memory can be increased by up to 128GB with a micro SD card, providing plenty of space for photos and memories.For consumers who enjoy watching videos on their devices, the Alcatel 1L Pro features an expanded 6.1-inch HD+ display.
The 19.5:9 aspect ratio is ideal for watching widescreen content, while the Mini-Notch design provides an 84 percent screen-to-body ratio, so users have a device that still fits comfortably in their hand. On the back of the device, an elegant, S-shaped gradient completes the device’s elegant look.
Available in Power Grey or Twilight Blue, the Alcatel 1L Pro ships across Latin America, the Middle East and Africa from September 2021, priced at 127 USD.
Alcatel 1L Pro – All-round performance and AI photography-Brand Spur Nigeria
Alcatel 1L Pro – All-round performance and AI photography-Brand Spur Nigeria
The Alcatel 1 offers users all the smartphone essentials they need, in a compact, stylish design.
Powered by a Quad-core chipset, the Alcatel 1 runs Android™ 11 (Go edition) for fast performance that lets users switch quickly and easily between apps. Smart Manager helps keep performance fluid, through intelligent app management, memory optimization, and battery-saving modes. With a 5-inch 18:9 display, the Alcatel 1 is ideal for watching videos on the move, with a curved bezel that provides a comfortable, rounded grip.
Meanwhile, the finely carved texture on the back provides a non-slip, anti-fingerprint surface and a moving light effect that complements the phone’s delicate aesthetic. The Alcatel 1 was created with a smart, easy, user experience in mind.
When taking a photo, face tracking helps you keep you and your friends in focus. And Eye Comfort mode reduces the amount of blue light from your screen, helping you to reduce eye strain.
The Alcatel 1 ships in Europe and Latin America from August 2021, in Volcano Black or AI Aqua, starting at €59.

 

Primate Ayodele Issues Serious Warning On State Of Nigerian Economy From July 2021

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Primate Ayodele Issues Serious Warning On State Of Nigerian Economy From July 2021

…Says Nigerians Should Expect Dollar At N520, Petrol At N280/litre And More

The Leader Of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has issued warnings on the state of Nigeria’s economy.

Primate Ayodele warned that dollar exchange may increase to N520 and that the cost of petroleum products will increase to N280 per liter.

Primate Ayodele-Brand Spur Nigeria
Primate Ayodele Issues Serious Warning On State Of Nigerian Economy From July 2021

In a statement issued on Monday by his Media Office, the clergyman warned of impending petroleum scarcity.

Primate Ayodele also warned of impending food scarcity in Nigeria, starting from July.

Primate Ayodele urged the Nigerian government to support the farmers to stop the increment in the price of essential food items.

According to Primate Ayodele: ‘’If the government doesn’t work on the economy, Dollar price will increase to N520, there will be petroleum scarcity because the prince will rise to N280/litre

‘’As from next month, food will be more expensive, the government should support the farmers to avoid this if not essential food will become more expensive.’’

Nigerian Idol: Top 3 Finalists Emerge As Comfort Exits Competition

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Nigerian Idol: Top 3 Finalists Emerge As Comfort Exits Competition

With over 12 million votes cast this week, it’s clear that things are getting even hotter on the sixth season of Nigerian Idol.

After impressive performances week on week, Comfort’s time in the Nigerian Idol competition came to an end as she was eliminated Sunday night after polling the least number of votes.

The Sunday live show was graced by the super-talented singer, songwriter and producer Cobhams, as a guest judge. He opened the show with an incredible performance of ‘We Plenty’ and ended by advising the finalists, “to always remember that they got to this stage because they did something differently, to always make the audience their priority and to always make music that they believe in.”

The top 3 Nigerian Idol contestants were required to perform two songs, the first being a Naija cover and the second a top song on the Billboard Chart.

Opening the stage for the first round of songs was Kingdom as he performed ‘Iyawo Mi’ by Timi Dakolo. Next was Francis Atela who performed ‘Pray for Me’ by Dare Art Alade. To seal the first round of performances, Akunna performed ‘Johnny’ by Yemi Alade. The judges spoke well of all the performances rendered by each contestant.

Moving onto the second round of songs was an iconic rendition from Francis as he performed the iconic ‘I Will Always Love You’ by Whitney Houston. Next was Kingdom who sang ‘How Deep Is Your Love’ by Bee Gees.

The last girl standing, Akunna, crowned the night with her performance as she sang ‘Only Girl (In the World)’ by Rihanna. Unfortunately, the judges felt her performance did not come off as fantastic as they expected. Cobhams admonished her to exercise more energy when performing. Seyi Shay stated outrightly that it wasn’t so good because of the wrong choice of song.

The judges wrapped things up by expressing their joy at the performances of the final 3 contestants and commended their efforts so far in this competition.

With just three left vying for the number one spot, the power to determine who stays and who leaves is solely in the hands of the viewers.  Vote for your favourite contestant via the Africa Magic website and mobile site by selecting the contestant of your choice, enter your number of votes and click VOTE. Voting via these platforms are limited to 100 votes per user. You can also vote via the MyDStv App and MyGOtv Apps.

The Apps are free and are allocated based on your subscription packages. You can also send an SMS of your favourite contestants’ number to 32053, which costs N30 per SMS. Votes via SMS are limited to 100 votes per user and participating networks are Airtel & 9mobile. The voting window closes at 9pm on Wednesday, June 30, 2021.

Nigerian Idol Season 6 is sponsored by Bigi Drinks and Tecno Mobile.

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