Partnering with TD Africa for the event is leading Original Equipment Manufacturer, IBM.
The 50 girls, selected from five schools, will be hosted at the Tech Experience Centre, Africa’s foremost technology and lifestyle hub, located at 13, Idowu Martins, Victoria Island, Lagos, another partner on the project. Also, the theme for TD Africa’s 2021 celebration of the girl child has been identified as: ‘Dear Girl, Reshape Your World’.
A number of activities have been lined up by the management of TD Africa for the participating school girls on the day. Top on the bill is the opportunity for some of the girls to be exposed to cutting-edge digital skills training.
All 50 participating girls will be required to write a quiz during the course of the event. From this, 10 girls will be selected for IBM’s Digital Skills Training Platform, “IBM Digital Nation Africa”.
Coordinating Managing Director, TD Africa, Mrs. Chioma Chimere, says the event further restates the company’s commitment to the girl child.
‘‘The future, as they say, is female. For us at TD Africa, we firmly believe that empowering the girl child and ensuring they get access to equal opportunities will go a long way in building a better society for all. Consequently, we have decided to bring back this CSR activity.
Though the COVID-19 pandemic affected the physical hosting of the 2020 edition, we hosted a similar event in 2019 where many young school girls were inspired to embrace the STEM disciplines and pursue a career in technology which remains a male-dominated sector.
‘‘For this year’s edition, we hope to sponsor 10 exceptional girls to enrol for the IBM digital skills training programme which we believe will further expose and equip them to excel in their chosen careers in today’s technology-mediated world,’’ she enthused.
In 2019, TD Africa hosted 100 school girls at the Zone Tech Park, Gbagada, Lagos. In addition to learning from the experiences of invited resource persons, among whom were women who had risen to the top of their careers in the technology and other allied industries, laptops were also given out to 10 girls with exceptional academic performances. Some of the participants had expressed their delight at the wonderful opportunity the event provided in a feedback session which can be accessed here: https://youtu.be/OCvmred28mw
The International Girls in ICT Day is marked globally and annually on the fourth Thursday in April. It is an initiative by the United Nations International Telecommunication Union (ITU) Member States in Plenipotentiary Resolution 70 to generate a global environment that encourages girls and women to pursue careers in information and communication technologies (ICT), the world’s fastest-growing sector.
TD Africa has remained in the forefront as a leading advocate of gender equality in Nigeria, with the company not only creating a conducive and competitive environment that allows female employees to thrive and aspire to its highest managerial positions; but also using the Girls in ICT Day celebration and other similar events to encourage and inspire the next generation of women leaders.
In addition to the “S line competition” equipment line, Audi has also enhanced the performance of the A1 Sportback 40 TFSI1 from 147 to 152 kW (207 PS).
The Audi A1 Sportback has been proving itself since it was introduced to the market in 2010 not only for city driving but also over longer distances. The most recent accolade, the Auto Trophy 2020 in the “City Cars” category, selected by readers of the German magazine “Auto Zeitung,” underlines the high ranking of Audi’s most compact model.
Refined Details: Audi Gives The A1, A4, A5, Q7 And Q8 A Sporty New Look For The New Model Year-Brand Spur Nigeria
The 2022 models of the highest-performing model, the Audi A1 Sportback 40 TFSI1, is available with 152 kW (207 PS) and 320 Nm torque – as part of the adjustment to the current exhaust emission standard, an increase of five kW.
In addition to the enhanced performance, Audi is offering the equipment package “S line competition” and red stitching for the sportiest compact model to highlight the sporty nature of the exterior and interior with subtle but unmissable features. The “S line competition” package can now be ordered for the Audi A1 Sportback 40 TFSI1 as well as the 35 TFSI2 and the 30 TFSI3.
The package includes, among other things, platinum gray side mirrors and platinum gray laminated Audi rings for the paint option Ascari blue. With the roof in contrasting Mythos Black as well as the side rocker panels, the Singleframe grille in matte black and the frame in high-gloss black, the four rings in front and back as well as the badging are also in black.
Combined with the darkened LED headlights and LED taillights, they harmonize perfectly with the metallic color Ascari blue, which is available for the Audi A1 Sportback 40 TFSI exclusively with the “S line competition” equipment package.
The front spoiler blade in matte platinum gray, the side mirror body in platinum gray and the laminated rings in platinum gray above the rocker panels together with the metallic paint color Ascari blue are particularly eye-catching. The S line rear spoiler in Mythos black and the diffuser clip in a platinum gray complete the colour options exclusive to the new equipment line “S line competition”. Fans of the A1 can also look forward to optional 18” wheels that enhance the sporty look further.
Audi Sport GmbH is also offering the stitching in red with the S line interior for all A1 models. The red accents in the interior highlight the sporty nature of the compact A1. For their front sport seats, customers can choose between a combination of fabric and mono.pur leatherette or Alcantara and monopur leatherette.
Both options feature express red stitching. The floormats, handbrake handle, gear shifter, and steering wheel also feature red decorative stitching. A centre armrest and door armrest with red stitching can also be ordered optionally. A black sunroof completes the sporty interior.
The Audi A1 Sportback S line competition is available to be ordered in Germany from May 20, 2021. Delivery will begin in August 2021. In Germany, the A1 Sportback S line competition starts at 27,470 euros.
Audi A4 and Audi A5 even sportier in a new dark look
The Audi A4 and A5 go into the new model year in May with the “S line competition” and “S line competition plus”, two new appearance packages that with attractive features that make these two models look truly sporty.
The appearance package “S line competition” for the Audi A4 includes the S line exterior package as well as an additional black package. It includes a matte radiator grille, a blade, a strip to protect from stone chipping, an S4 spoiler as well as the Audi rings in the Singleframe grille all in black. 19” cast wheels make the package even more dynamic.
For the Audi A4, the “S line competition plus” package also includes LED headlights, an ambient lighting package, black side mirrors and illuminated entry sills with aluminium inlays in the front. All motorizations with 150 kW and more also feature red brake calipers.
In the new model year, customers can also order both versions of the Audi A4 sedan with a roof in Brilliant black. The spectrum of colors for exterior paint ranges from Terra gray, Quantum gray, Daytona gray, Tango red, Glacier white, Navarra blue and Turbo blue to Mythos black. In addition, solid finish in Ibis white is also available with Brilliant black side mirrors.
As with the Audi A4, customers can also choose their Audi A5 between the “S line competition” and “S line competition plus” editions. The exterior design of the “S line competition” for the Audi A5, with 20” wheels, is based on the S line exterior and additionally features striking black elements such as the spoiler and radiator grille.
With the “S line competition plus” for the Audi A5, matrix LED headlights, black side mirrors, red brake calipers for motorizations of 150 kW and more as well as the ambient lighting package highlight the car’s dynamic look. Exterior finish options are Distrikt green, Quantum gray, Daytona gray, Tango red, Glacier white, Navarra blue, Turbo blue and Mythos black. The Audi A5 coupé is also available with a roof in Brilliant black.
The Audi A4 and the Audi A5 with “S line competition” and “S line competition plus” will be available to order on the German market from May 20. Delivery will begin in July 2021. In Germany, the Audi A4 S line competition is available starting at 38,250 euros and the Audi A4 S line competition plus starting at 45,400 euros. The Audi A5 S line competition starts at 43,200 euros and the Audi A5 competition plus starts at 49,600 euros.
Top models in the Q family in a sporty look
In the SUV segment, Audi is heading into the 2022 model year with the edition models Audi Q7 and Q8 competition plus. Optional equipment for the exterior and interior add even more appeal to the biggest members of the Q family.
The appearance package black plus makes the S line exterior package stand out even more with its dynamic look for the Audi Q7 as well as the Q8. The black Singlegrame grille including the gills and frame as well as black Audi rings and clips really set the front of these two edition models apart.
A new carbon package, already available as an option for the Audi Q7, with carbon mirror housing and door inlays, highlight the sporty nature of these edition models. For the Audi Q8, the Singleframe mask is also glossy black. Both vehicles are delivered on 21” aluminium wheels.
The Audi Q7 can be ordered with optional 22” wheels and the Q8 even with 23” wheels. While the Audi Q7 features black decorative elements in the new “S line competition plus” line, the carbon bumper of the Audi Q8 really highlights the sporty nature of the SUV. Both edition models are equipped with red brake callipers and welcome passengers with an LED projection of the S logo.
Dark tones, specific color accents such as optional red decorative stitching on the seats and steering wheel and the carbon decorative inlays that are familiar from the S-Models also characterize the interior of the new Audi Q7 and Q8 edition models. This is complemented by a carbon insert for the shifter.
Audi Q7 and Q8 competition plus will be available to order on the German market in June from 78,170 euros for the Q7 and 84,500 euros for the Q8. Delivery will begin in late summer.
Over time, the administration and state of the Apapa and Tin Can ports have been of utmost concern to stakeholders in Nigeria, given how pivotal the business of the ports are to economic growth.
Despite series of interventions by the government to curb the underlying problems – bad road portions – obsolete infrastructure – delays in cargo clearance – lack of an automated cargo clearance system, which gave rise to the evident racketeering at these ports, the problems persist.
The drag these problems constitutes to the free flow of commercial activities within and far beyond the area is estimated to cost Nigeria an average of N18.0trn annually over the years.
The bid to rid the ports of the protracted concerns of gridlock gave rise to the Lekki Deep Seaports (LDS), expected to be operational in early 2023. When it starts operating, the LDS should unburden the Apapa port, making way for a more seamless experience for commercial activities within the port and its environs.
We also note that in the interim, the government must tackle issues of corruption at the Apapa port. Recently, to nip the gridlock in the bud, an automated vehicle call-up number was instituted, yet the problem remains.
Activities at the ports have continued to trigger an increase in haulage cost and demurrage, leading to loss of money which disincentivizes commerce. Both exports and imports are frustrated alike, as perishable goods are sometimes laid to waste and imported goods overburdened with increased cost.
We have also noted with concern the impact of these issues on input sourcing for major manufacturers in Nigeria. In some cases, where these manufactured goods have substitutes, the issues at the Apapa port leaves manufacturers with an input cost burden which thins out margin or makes their product less competitive.
Following the successful concession of the Nigerian ports in 2006, the Nigerian government has continued to evolve policies to ensure seamless operations at the port. An example is the enactment of the Infrastructure Concession Regulatory Commission (Establishment) Act of 2005 (the ICRC Act), which came into effect in 2007.
In addition, several bills relating to the port industry are undergoing legislative processes for possible enactment into Acts by the National Assembly. We note that there are ongoing efforts by the relevant government agencies to contain the developments at the Apapa port.
For example, the road network is currently being repaired to improve the free flow of vehicular movements around the port. However, in our view, a lasting solution will only be seen if alternative ports around the country become operational and effective.
EFG Hermes reports 30% Y-o-Y surge in top-line to EGP 1.3 billion on the back of a stellar performance across its operations in 1Q21
EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), reported today its first-quarter results for 2021, with revenues climbing a solid 30% Y-o-Y to EGP 1.3 billion on the back of positive performance across the majority of the Group’s lines of business in 1Q21.
“While the challenges posed by the ongoing pandemic still abound, EFG Hermes continued to reap the benefits of the diversified business model it has built in recent years,” said EFG Hermes Holding Group CEO Karim Awad.
EFG Hermes Reports 30% Y-O-Y Surge In Top-Line To EGP 1.3 Billion On The Back Of A Stellar Performance Across Its Operations In 1Q21-Brand Spur Nigeria
“This has helped us adapt swiftly to this evolving situation and supported us in delivering robust results across our business lines by end of the first quarter and maintaining our position as the leading financial services player in frontier emerging markets.”
Leading growth for the quarter, the Group’s NBFI platform recorded a revenue increase of 22% Y-o-Y to EGP 441 million and contributed 35% of EFG Hermes’ top line in 1Q21 driven by improved performance across its lines of business.
Tanmeyah’s revenues grew 9% Y-o-Y to EGP 321 million on the back of it delivering a strong sales performance for the period, while the Group’s consumer finance business, valU, nearly tripled revenues Y-o-Y to EGP 56 million on the back of a strong portfolio expansion. The Group’s Leasing and Factoring platform, EFG Hermes Corp-Solutions, recorded revenue increases of 30% and 110% Y-o-Y to EGP 56 million and EGP 8 million, respectively, driven by higher arrangement fees and interest income in 1Q21.
EFG Hermes’ sell-side revenues climbed 29% Y-o-Y to EGP 296 million on the back of improved performances at its Investment Banking and Brokerage operations in 1Q21 spurred by improved market conditions. The Group’s Investment Banking division more than doubled its revenue performance for the period, recording EGP 42 million on the back of increased advisory fees from the successful close of eight transactions in 1Q21 alone.
Meanwhile, Brokerage revenues increased 20% Y-o-Y to EGP 255 million, driven by strong results generated from its operations in Egypt for the period.
Meanwhile, at the Group’s buy-side operations, revenues grew 22% Y-o-Y to EGP 129 million, on the back of improved performance from EFG Hermes Asset Management, where revenues surged 62% Y-o-Y to EGP 99 million due to higher management and incentive fees booked by FIM in 1Q21. At the Group’s Private Equity division, revenues declined 34% Y-o-Y to EGP 29 million in 1Q21, as the comparable period last year had booked incentive fees in relation to the division’s Vezeeta exit.
At EFG Hermes’ Capital Markets and Treasury operations, revenues increased 45% Y-o-Y to EGP 389 million on the back of unrealized gains booked on investments and lower FX losses in 1Q21 compared to the same period last year.
“At our NBFI platform, Tanmeyah delivered record sales of EGP 490 million, the highest since its inception and a testament to the Group’s prowess in the microfinancing space.
Moreover, we maintained valU’s growth trajectory as we continued to expand our partnerships with vendors across the nation and capitalize on Egypt’s ever-growing consumer base. In parallel, our Investment Banking division closed eight transactions across the ECM and DCM spaces, supporting our sell-side performance for the period and further cementing our position as the leading investment bank across the markets we operate in,” added Awad.
The Group’s operating expenses recorded a decline of 3% Y-o-Y to EGP 802 million as lower loan loss provisions booked by the NBFIs platform offset the increase in employee expenses in 1Q21. Moreover, expenses as a percentage of revenues came in well below the 50% level and stood at 46% for the period.
Despite an increase in deferred taxes, the Group recorded a bottom-line of EGP 292 million in 1Q21, reflecting a 223% Y-o-Y increase compared to the EGP 90 million recorded in same period last year. Strong performance from the Group’s NBFI platform and Investment Bank, as well as muted operating expenses, supported EFG Hermes’ healthy bottom-line performance in 1Q21.
“The variables impacting our outlook for 2021 remain plentiful and difficult to predict. Nonetheless, the Group will continue leveraging its comprehensive capacities across its operations and capitalizing on what we hope will be an improving external environment as consumers and businesses adjust to the COVID-19 situation, to deliver solid results and sustainable value for the remainder of the year.
“As always, we will continue to remain cautious and monitor market developments, not only to ensure that we continue to generate value for all stakeholders but to guarantee the continued health and safety of our people, without whom our exceptional results and continued successes would not have been achieved,” Awad concluded.
Euro traditionally produces outstanding soccer, with many of the world’s leading players given a grand stage. There will be spectator limits in place, and matches will be held in 11 cities across 11 countries – a “romantic gesture”, according to UEFA, to celebrate the 60th birthday of the tournament. Viewers are promised a one-of-a-kind spectacle, with the stark differences between the host cities contributing to the uniqueness of the event.
Portugal will be defending the championship, although France, Belgium and England are all rated higher, and will be playing with high expectations from fans.
Speaking about the addition, MultiChoice CEO for General Entertainment and Connected Video, Yolisa Phahle, says, “We know that Africa is football mad, and we’re thrilled that more people will be able to stream the matches on the go or at home.”
SuperSport chief executive Marc Jury says, “Being able to offer this high-class tournament to sport fans on the Showmax streaming platform is an exciting addition to the many SuperSport platforms that offer viewers top-tier sport.”
Other live sport available on Showmax Pro includes all Premier League, Serie A, La Liga and PSL games as well as a wide range of live sports events including athletics, professional boxing and the world’s biggest marathons.
Sport documentaries available on Showmax include HBO’s gripping golfing documentary Tiger; What’s My Name: Muhammad Ali; Klopp: The Inside Story; and SuperSport’s ground-breaking Chasing the Sun, the series about the Springboks’ inspiring victory at the 2019 Rugby World Cup. Showmax Pro also includes a selection of live news channels, such as Euro News, Africa News and Newzroom Afrika.
Outside of sport, Showmax has its biggest slate of Originals coming up in 2021, including the first Kenyan Original, crime procedural Crime and Justice, and the first Nigerian Original, a reality series starring reality star and musician Laycon. Both of these series are available to binge-watch in their entirety.
There’s also a follow-up to the very popular Tali’s Wedding Diary, Tali’s Baby Diary; the small-town psychological thriller DAM; and the Cape Flats neo-noir murder mystery Skemerdans, all currently available to stream. Coming up later in 2021 is Showmax’s latest co-production with Canal+, Blood Psalms, an epic series based on ancient African mythology, as well as Showmax’s first licensed international reality TV series format, Temptation Island South Africa.
The 2021 Royal Kiddies Essay Competition tagged “Write & Win”, will test the creative writing abilities of young school children in Nigeria aged 5 – 12. It aims to develop writing skills, promote creativity, imagination capabilities, reward creativity, and drive them towards excellence in their learning process.
Write & Win: Wema Bank Creative Essay Competition For Kids-Brand Spur Nigeria
Ten kids will emerge from a transparent, credible, and thorough screening process. The top three Essays will each get Huawei tablets and Royal Kiddies branded T-shirts. The seven other finalists will each get a N20,000 prepaid gift card for school supplies in addition to a branded T-shirt.
The essay competition is open to children of parents/guardians who have opened and funded a Royal Kiddies Account for their children/wards. Eligible kids will develop a creative and imaginative essay reminiscent of the eventful year 2020.
Don't stress about the little things!
With *945# you can stay connected to the things that matter.
To get your kids to join the fun and get them rewarded for their creativity in the Wema Bank Royal Kiddies Essay Contest, follow the steps below:
Send an essay written by your ward(s) with the topic “2020 A year to Remember” along with their royal kiddies account details to retail.products@wemabank.com.
Essay submission entries close by May 24, 2021. Besides other terms and Conditions that apply, only Royal Kiddies Account holders with up to N20,000 in their account qualify to apply.
A Wema Bank Royal Kiddies Account gives your kids an early start to financial freedom. It is for kids between ages 1 to 12. Other benefits of opening a Wema Bank Royal Kiddies account for your children are access to school fees advance, scholarships, life assurance to fund their education and many others.
If you wish to enter your kids but do not have a Royal Kiddies account, visit the nearest Wema Bank branch to open an account.
In his welcome address at the well-attended unveiling ceremony held in Eko Hotel, Lagos the Chairman of the Bank, M.K Ahmad (OON) disclosed that the corporate goal of Polaris is to offer customers and non-customers of the Bank, a 24-hour seamless service using VULTe.
In his words, “This is a milestone in our pursuit of a strong and digitally-led retail brand. When we started the Polaris journey almost three years ago, we were very clear on the type of Bank we must build and the direction we must go. This was largely informed by the fast pace of change in financial service provisioning and the apparent technology-defined outlook of our business.”
“We are therefore bringing VULTe to the marketplace today. And this is not another mobile App, but one with a world of difference, a mobile digital bank. This is your Bank in your hand, affording you total Control of your financial service needs. With VULTe, you serve yourself, the way you want to be served,”the Chairman explained.
In his address, the Acting Managing Director/CEO of the Bank, Mr. Innocent C. Ike said the newly-launched banking platform, is returning all powers to the customer as king. He noted that customers are now at liberty to enjoy an unhindered, contactless and refreshing banking experience all at the tip of their fingers thanks to the newly launched VULTe app.
“With VULTe, we affirm our resolve to serve the customer better and make their banking experience, more pleasurable. Therefore, we will continue to launch an array of banking products to cater to the varying needs of our diverse customers.”
Polaris Bank Nigeria launches VULTe; a new Digital Bank
Explaining the premium value the Bank places on its customer with the VULTe, Ike said:
“Ultimately, VULTe represents our bold declaration to hand over CONTROL of banking services to our customers and allow them to serve themselves as they would want to be served.
“As a Polaris Bank customer, you are at liberty to determine your banking experience since we have put the Bank in your hand 24/7. You now have total CONTROL to serve yourself; it’s no more customer service but customer self-service.
“Are you opening an account, setting limits on your account, verifying your identity documents, registering your biometrics, making inquiries, taking an instant loan? You are in total CONTROL – you do it at your time, at your convenience, and on your terms – you determine how delightful your banking experience will be”.
The highlight of the launching was the practical demonstration of the uniqueness of the VULTe application by the Bank’s Chief Digital Officer, (CDO) Mr. Bamidele Adeyinka to the excited guests.
According to him;
“The Digital Banking Platform, VULTE, will change everything that happens in the ‘brick & mortar space (i.e. branches) to clicks and buttons.” Continuing, he stated, “VULTE comes in mobile (Android and iOS) and Web Applications and it allows customers with either of the options, to access banking services at the click of the button,”he added.
The CDO explained that all Bank customers in the country can take advantage of VULTe to carry out their banking transactions including account opening, bills payments, transfers, balance enquiry, airtime recharge and quick loans.
He further stated that on-boarded customers will be able to access PayDay Loan on both mobile and web digital platform where eligibility will be displayed to the customer within the VULTe application.
Also, onboarded customers will be enabled to pay taxes and levies for different government parastatals in addition to several other benefits such as the ability to perform intra-bank and inter-bank transfers.
“To onboard, customers with BVN will input their BVN and take a selfie (photo of their face) which will be compared automatically with the photo on their BVN profile (via Facial Recognition – an advanced cognitive and artificial intelligence facial recognition technology),”the CDO disclosed.
Meanwhile, the Bank also announced special reward packages for early users of the VULTe app. Reeling out giveaways and free gifts, Mr Muhammed Abdullahi, Executive Director, Abuja and Northern Region of the Bank said: “For your loyalty and positive acceptance of VULTe and all other banking services offered by Polaris Bank, on behalf of the Board, Management and Staff, I’m happy to announce some mouthwatering offers to everyone following us to mark this occasion.
“Consequently, please note that the first 2000 persons who download VULTe from Appstore or PlayStore and make transfers on the platform, stand to win a collection of beautiful mementoes like; Mugs, Michael Cable Charger, Key Rings, Pop Socket among other collection of gifts,”the ED said.
The launch event had in attendance representatives of Central Bank of Nigeria (CBN), key Financial Technology (FinTechs) industry players and strategic partners of Polaris Bank who all in their goodwill messages attested to the bank’s unwavering determination to ensuring quality customer satisfaction at all times.
The show continues till the grand finale on July 11, where we will see the winner clinching the prize of a recording contract with a leading record label and N50, 000,000 (Fifty Million Naira) worth of prizes.
It was a night of tension for the contestants with extremely electrifying performances with only nine left for the next show and they include Kingdom Kroseide, Akunna Okey, Faith Onyeje, Francis Atela, Daniel Ikechi, Beyonce Ajomiwe, Clinton Francis, Comfort Alalade and Emmanuel Elijah.
A highlight to reckon with was Francis Atela’s performance with the song “writing on the wall” by Sam Smith. He did not only bring it to live but his rendition brought out the originality, as Seyi Shay, one of the judges could not hide her excitement amidst the laudable comments by Dj Sose and Obi Asika showering praises that if he continues this way he will conquer the world.
Another exciting moment was the rendition by Akuna Okey who sang one of Beyonce’s collections, with applause from the judges for the stage performance and her effort in delivering the song the way it should be. Sweet words such as “your performance was captivating and incredible, you really took charge of the stage, I am impressed with your vocals, keep it up,” followed afterwards.
As thrilling as the performance of the nine contestants, their stay on the show for next week will depend on the numbers of vote attained, as any of them with the lowest figure will be evicted next Sunday, May 23.
Interestingly, the widely viewed reality TV show which is aired on DStv Channel 198 and GOtv Channel 29, is sponsored by Rite Foods Limited, a truly World-Class and Proudly Nigerian Food and Beverage Company, through its premium Bigi soft drinks brand.
The brand which has set the pace in the beverage sector with its 12 leading variants, consist of the Bigi Cola, Bigi Orange, Bigi Apple, Bigi Bitter Lemon, Bigi Soda Water, Bigi Lemon & Lime, Bigi Tropical, Bigi Chapman, Bigi Tamarind, Bigi Cherry Cola, Bigi Ginger Lemon, and the Bigi Ginger Ale.
Other Rite Foods’ products comprise Rite Spicy, Bigi Beef, and Rite Sausages which have been the mark of excellence for the industry, while its Bigi Premium Table Water, produced with global best practices in purification, offers quality, freshness, confidence, and reliability.
Established in 2007 as a subsidiary of Ess-Ay Holdings, Rite Foods’ inventiveness has earned high recognition in the energy drinks market with the first-ever packaged polyethylene terephthalate (PET) bottle brands for the Fearless Red Berry and Fearless Classic.
Financial innovation brings with it a lot of conveniences. But these conveniences come with their own risks as well as online fraudsters who target internet users.
Fraudsters use increasingly advanced methods to rip people off their hard-earned money.
While credit card fraud has peaked in the past, there has been a significant uptick in investment scams during the Covid-19 pandemic, and many investors have been victims of an investment scam.
Some of these investment scams are designed to look like the real deal. However, there are some red flags you can spot to help you avoid them.
Check out some of the most common tactics these fraudsters use:
Being pressured into making a quick decision is a red flag. Anyone who is forcing you to make a swift investment decision is out to take your money.
High returns at low or no risk
All investments have risk. However, any investment opportunity that guarantees a high return on your investment, but downplays the risk has the tendency to be a scam.
Exclusivity
If you are told that the investment opportunity is not for everyone or asked to keep the investment opportunity to yourself then it’s likely to be a scam.
There are measures to take before making an investment decision and we have outlined a few to guide you.
How to Avoid an Investment Scam
Check for compliance
Scrutinize every broker or financial advisor before making an investment decision. Ensure that they possess the appropriate and relevant operating license.
Do your research
Before making an investment decision, have an understanding of what you want to invest in, confirm how it operates, and the risks. Never make an investment that you don’t understand.
Take the time you need
Take the time you need to make an informed decision. By doing this, you are not pressured into making hasty decisions that you will end up regretting.
Bottom Line
Above all, remember the old saying: If it sounds too good to be true, it probably is.
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