Online Retail Sales in South Africa jumps to USD2.12 Billion in 2020

Esan Bolaji
-
0
Online Retail Sales in South Africa jumps to USD2.12 Billion in 2020

Online retail in South Africa more than doubled in just two years, thanks to the explosion in demand for home deliveries brought about by the Covid-19 pandemic, according to new research findings released today by World Wide Worx – South Africa’s leading independent technology market research organisation.

Online Retail in South Africa 2021, a study conducted by World Wide Worx with the support of Mastercard, Standard Bank and Platinum Seed, reveals that the total growth for online retail in South Africa in 2020 came to 66%, bringing the total of online retail in South Africa to R30,2-billion (USD 2,121,120,000)

Online Retail
Photo by Pickawood

“The most astonishing aspect of this total is that it is more than double the R14,1-billion reached in 2018, in just two years,” says World Wide Worx MD Arthur Goldstuck, principal analyst on the research project. “It is also 50% higher than the total forecast for 2020 three years ago when online retail in South Africa was expected to reach R20-billion by 2020.”

The figure comes into the most dramatic context when it is compared to traditional retail. In 2018, the R14,1-billion in online retail represented 1.4% of total retail, estimated at the time at R1,07-trillion. Online had outpaced traditional retail growth throughout the past 20 years since it came off a low base, but traditional retail still grew every year until 2019. In 2020, it slumped as a result of lockdown as well as economic stress.

According to preliminary data from Stats SA shows, at current prices, total retail fell by 4.2%, to R1,05-trillion at current prices. The percentage of retail made up by online retail sales came to 2.8% – exactly double the percentage for 2018.

“While equivalent growth cannot be expected for 2021, it can be stated fairly confident that it will exceed the 30% growth of 2019, when expansion was organic and a factor of the evolution of shopping habits and retail strategies,” says Goldstuck. “Those factors remain in place, along with the massive boost given to both areas of evolution since the pandemic began.”

This means we can expect to see total online retail sales of around R42-billion in 2021, taking the online percentage of total retail to around 4%, assuming traditional retail returns to its previous growth path.

The findings were not a surprise. Already in November 2020, Mastercard released the findings of a survey of 1,000 South African consumers, which found that 68% of respondents were shopping more online since the onset of the pandemic.

The categories experiencing the highest growth, aside from data and airtime top-up, were clothing, at 56%, and groceries, at 54%.

More than two-thirds – 68% – of these consumers said they used the time during the pandemic as a positive learning experience, while the demand for online entertainment also surged, with 52% of respondents saying they have spent more money on virtual experiences than they did before the pandemic. The majority had participated in video calls for work or leisure (88%), three quarters (75%) had watched TV or films through an online subscription service, and nearly half (47%) had taken part in a virtual cooking class.

“This trend appears to be here to stay as 71% of respondents say they will continue to shop online post-pandemic,” says Suzanne Morel, Country Manager at Mastercard, South Africa. “Now more than ever people need access to the digital economy and all of us at Mastercard are constantly working to make the online shopping experience more inclusive, simple, seamless and secure for everyone, whether you’re shopping for essentials or experiences.”

The study is being released in three phases, with the first focused on overall market size and online consumer demographics. The first report is based on data drawn from the TGI consumer survey of 16,000 participants, conducted by Ask Afrika over six months.

Subsequent phases of Online Retail in South Africa 2021, to be released later in the year, will include an analysis of the performance of online retailers, based on a survey of a wide range of providers, while the third phase will provide deep insights into global trends.

MTN Foundation Brings Soyinka’s Death And The King’s Horseman To Terra Kulture

Brand Spur
-
0
MTN Foundation Brings Soyinka’s Death And The King’s Horseman To Terra Kulture

The MTN Foundation, in partnership with Bolanle Austen-Peters Productions, is bringing Wole Soyinka’s Death and the King’s Horseman to the Terra Kulture stage.

The play which is scheduled to hold on May 13–16 features seasoned actors including Mawuyon Ogun, Olarotimi Fakunle, Moshood Fattah, and Fares Boulos (Oyibo Rebel). Death and the King’s Horseman is a story about colonialism and a clash of cultures which is based on a true incident that happened in Oyo State in 1946.

It tells the story of the ‘Elesin Oba’, the king’s chief horseman, who is mandated by custom to commit ritual suicide after the death of the King and Simon Pilkings, the colonial district officer, who when the king dies, decides to intervene and stop the Elesin Oba from committing ritual suicide, in what he sees as a barbaric custom.

This partnership is in furtherance of the MTN Foundation’s goal to preserve Nigerian stories while positively showcasing Nigeria’s many beautiful cultures. Death and the King’s Horseman is one of the three theatre productions the Foundation has supported in the first half of this year. Others include Tony Wants to Marry, a drive-in theatre performance in Lagos and Abuja and Ibiom: When Doves Fly, a stage play in Akwa Ibom State.

Speaking on the specific relation of Death and the King’s Horseman to the Foundation’s goal, the Executive Secretary, MTN Foundation, Odunayo Sanya stated, “Death and the King’s Horseman is a very important Nigerian story. It is based on true events and is written by one of Nigeria’s most respected writers. It also centers a very interesting theme of cultural relativism and begs the question of whether there exists an objectively moral culture. Stories such as these that do not only entertain but compel reflection on who we are, what our values are or where must not be lost.

At the MTN Foundation, we believe that while we continue to evolve as a collective, we must not lose sight of our history and culture. This is one of the reasons we have remained committed to both the preservation and positive projections of our stories by supporting their being handed down from generation to generation.

In addition to the three productions already sponsored in the first half this year, we are also sponsoring OMG: The Musical and Flower. We are excited to see how these great stories will be received.”

Bolanle Austen-Peters has also shown commitment to this vision and since establishing the Bolanle Austen-Peters Productions, stayed true to telling stories that are both authentically Nigerian and culturally important.

She has, however, never failed to acknowledge the role of the private sector in ensuring these stories are told excellently and express gratitude to MTN for its work in seeing to their actualization, in spite of the challenges in the pandemic, “I want to thank MTN and all the MTN team for their continued support.

It’s very difficult for anyone to sponsor anything in this season but somehow we all made this work.” Death and the King’s Horseman joins the long list of successful projects the MTN Foundation has partnered with Bolanle Austen-Peters Productions on including Wakaa the Musical, Saro the Musical, Oluronbi the Musical, among others.

The organisers have emphasized strict commitment to the COVID-19 guidelines issued by the State and Federal Governments and have urged everyone who intends to attend any of the shows to come wearing their face masks.

Tickets can be purchased at www.terrakulture.com.

MAN At 50: Salvaging The Manufacturing Sector

United Capital Research
-
0
MAN At 50: Salvaging The Manufacturing Sector

At the 50th anniversary of the Manufacturing Association of Nigeria (MAN), the DG of the association, Segun Ajayi-Kadir, stated that F X restriction policies by the CBN as well as the impact of the Covid-19 pandemic have forced 415 companies to stop manufacturing over the past one year.

The D G listed several supply-side constraints limiting productivity within the sector, including traffic logjam at the ports slowing down access to imported raw materials, infrastructure (including power & transportation), land acquisition, multiplicity of taxes & levies from different tiers of government, and inconsistent government policies.

True to the comments of the DG, the manufacturing sector has been held back b y the various challenges plaguing firms within the sector. Over the past five years (2015- 2020), the manufacturing sector has averaged real GDP growth of -0.9%.

Interestingly, the sector has contracted thrice. This is a stark contrast to the prior five years where the sector averaged growth of 1 3.3%.

We think the manufacturing sector mirrors the struggles of the general business operating environment and ease of conducting economic activities profitably.

In our opinion, we believe an overhaul of the business environment including physical infrastructure (like ports, transportation, & power) and policy framework (resource control, foreign exchange, taxation, land laws, and regulations, etc.) would be needed to stimulate a rebound in the fortunes of the manufacturing sector.

This has become more imperative as the AfCTA kicks in. This is because Nigeria could lose a significant amount of investment to other business-friendly African countries who would then export to the huge Nigerian market in the absence of huge tariffs and other trade limitation

UACN Group Managing Director Acquires Shares Worth N231.8Million

Esan Bolaji
-
0
UACN Group Managing Director Acquires Shares Worth N231.8Million

Folasope Babasola Aiyesimoju, the Group Managing Director, UAC of Nigeria Plc (UACN), purchased 22,500,000 ordinary shares of the company.

The management disclosed in a statement signed by Nkemdirim Agboti, Company Secretary, UACN.

UACN
Folasope Babasola Aiyesimoju, the Group Managing Director, UAC of Nigeria Plc (UACN) | Brand Spur

Insider dealings give clues on insiders’ sentiment and director unlike before the new transparent policy where shareholders do not know what executives that formulates policy that impacts their desire stocks are doing.

Aiyesimoju bought 22,500,000 UACN shares at N10.30 a unit on May 11 2021 on the trading floor of the Nigerian Exchange Limited.

The total amount involved summed up to ₦231.750 Million.

UAC Reports 41.7% Drop in Profit to ₦669M in Q1 2021

UAC of Nigeria PLC (UAC) announced its unaudited results for the quarter ended 31 March 2021.

Highlights

  • Revenue 13% ahead of Q1 2020 at ₦22.0 billion, driven by sales growth in the Animal Feeds & Other Edibles segment and the Packaged Food & Beverages segment.
  • Gross margin 344 bps lower due to rising raw material prices and supply chain disruptions.
  • Operating profit 1% higher at ₦1.1 billion, supported by revenue growth and cost management efforts.
  • Net finance income 77% lower at ₦109 million on account of lower average yields year on year.
  • Profit after tax from continuing operations was ₦669 million, down 42% from ₦1.1 billion in Q1 2020.
  • Earnings per share from continuing operations was 12 kobo, 56% lower than 27 kobo recorded in Q1 2020.
  • In Q1 2020, UAC recorded ₦717 million from discontinued operations which impacts quarter on quarter comparison.

Commenting on the results, Group Managing Director, Fola Aiyesimoju, stated:

“Growth across our operating platforms translated to 13% revenue growth. Operational improvement initiatives resulted in a 6% reduction in operating expenses which supported marginal operating profit growth in spite of a 5% decline in gross profit.”

Remittances to Nigeria Reduced By 28% in 2020 – World Bank

Esan Bolaji
-
0
Remittances to Nigeria Reduced By 28% in 2020 – World Bank

Remittances to Sub-Saharan Africa declined by an estimated 12.5 percent in 2020 to $42 billion. The decline was almost entirely due to a 27.7 percent decline in remittance flows to Nigeria, which alone accounted for over 40 percent of remittance flows to the region, the World Bank says.

Excluding Nigeria, remittance flows to Sub-Saharan African increased by 2.3 percent. Remittance growth was reported in Zambia (37 percent), Mozambique (16 percent), Kenya (9 percent) and Ghana (5 percent).

In 2021, remittance flows to the region are projected to rise by 2.6 percent, supported by improving prospects for growth in high-income countries. Data on remittance flows to Sub-Saharan Africa are sparse and of uneven quality, with some countries still using the outdated Fourth IMF Balance of Payments Manual rather than the Sixth, while several other countries do not report data at all.

High-frequency phone surveys in some countries reported decreases in remittances for a large percentage of households even while recorded remittances reported by official sources report increases inflows.

The shift from informal to formal channels due to the closure of borders explains in part the increase in the volume of remittances recorded by central banks.

Remittance costs:

Sub-Saharan Africa remains the most expensive region to send money to, where sending $200 costs an average of 8.2 percent in the fourth quarter of 2020. Within the region, which experiences high intra-regional migration, it is expensive to send money from South Africa to Botswana (19.6 percent), Zimbabwe (14 percent to), and to Malawi (16 percent).

Low- and Middle-Income Countries Received $540 billion in 2020, $8 Billion Less Than in 2019

Despite COVID-19, remittance flows remained resilient in 2020, registering a smaller decline than previously projected. Officially recorded remittance flows to low- and middle-income countries reached $540 billion in 2020, just 1.6 percent below the 2019 total of $548 billion, according to the latest Migration and Development Brief.

The decline in recorded remittance flows in 2020 was smaller than the one during the 2009 global financial crisis (4.8 percent). It was also far lower than the fall in foreign direct investment (FDI) flows to low- and middle-income countries, which, excluding flows to China, fell by over 30 percent in 2020. As a result, remittance flows to low- and middle-income countries surpassed the sum of FDI ($259 billion) and overseas development assistance ($179 billion) in 2020.

The main drivers for the steady flow included fiscal stimulus that resulted in better-than-expected economic conditions in host countries, a shift in flows from cash to digital and from informal to formal channels, and cyclical movements in oil prices and currency exchange rates.

The true size of remittances, which includes formal and informal flows, is believed to be larger than officially reported data, though the extent of the impact of COVID-19 on informal flows is unclear.

“As COVID-19 still devastates families around the world, remittances continue to provide a critical lifeline for the poor and vulnerable,” said Michal Rutkowski, Global Director of the Social Protection and Jobs Global Practice at the World Bank. “Supportive policy responses, together with national social protection systems, should continue to be inclusive of all communities, including migrants.”

Remittance inflows rose in Latin America and the Caribbean (6.5 percent), South Asia (5.2 percent) and the Middle East and North Africa (2.3 percent). However, remittance flows fell for East Asia and the Pacific (7.9 percent), for Europe and Central Asia (9.7 percent), and for Sub-Saharan Africa (12.5 percent).

The decline inflows to Sub-Saharan Africa was almost entirely due to a 28 percent decline in remittance flows to Nigeria. Excluding flows to Nigeria, remittances to Sub-Saharan Africa increased by 2.3 percent, demonstrating resilience.

The relatively strong performance of remittance flows during the COVID-19 crisis has also highlighted the importance of timely availability of data. Given its growing significance as a source of external financing for low- and middle-income countries, there is a need for better collection of data on remittances, in terms of frequency, timely reporting, and granularity by corridor and channel.

“The resilience of remittance flows is remarkable. Remittances are helping to meet families’ increased need for livelihood support,” said Dilip Ratha, lead author of the report on migration and remittances and head of KNOMAD. 

“They can no longer be treated as small change. The World Bank has been monitoring migration and remittance flows for nearly two decades, and we are working with governments and partners to produce timely data and make remittance flows even more productive.” 

The World Bank is assisting member states in monitoring the flow of remittances through various channels, the costs and convenience of sending money, and regulations to protect financial integrity that affects remittance flows. It is working with the G20 countries and the global community to reduce remittance costs and improve financial inclusion for the poor.

With global growth expected to rebound further in 2021 and 2022, remittance flows to low- and middle-income countries are expected to increase by 2.6 percent to $553 billion in 2021 and by 2.2 percent to $565 billion in 2022. Even as many high-income nations have made significant progress in vaccinating their populations, infections are still high in several large developing economies and the outlook for remittances remains uncertain.

The global average cost of sending $200 remained high at 6.5 percent in the fourth quarter of 2020, more than double the Sustainable Development Goal target of 3 percent. Average remittance costs were the lowest in South Asia (4.9 percent), while Sub-Saharan Africa continued to have the highest average cost (8.2 percent). Supporting the remittance infrastructure and keeping remittances flowing includes efforts to lower fees.

Total Global Debt Fell By $1.7 Trillion to $289 Trillion Q1 2021

Esan Bolaji
-
0
Total Global Debt Fell By $1.7 Trillion to $289 Trillion Q1 2021

Global debt declined by $1.7 trillion to some $289 trillion in Q1 2021—the first decline in 10 quarters. The drop was entirely driven by mature market economies, where total debt dropped from $2.3 trillion to below $203 trillion.

However, debt in emerging markets rose slightly in Q1 (+$0.6 trillion) to a fresh record high of over $86 trillion (though this was a significantly slower pace than that of the previous three quarters). And despite the Q1 dip, total global debt is still up $30 trillion (12%) since the end of 2019, now standing at over $288 trillion. Mature markets accounted for nearly two-thirds of the rise.

…but global debt-to-GDP still hovering near all-time highs:

Despite the slight drop in total debt, debt ratios continued to increase in Q1 as economic activity remained below pre-pandemic levels in many countries. However, the pace has slowed dramatically: after a jump of over 36 percentage points in 2020, global debt/GDP rose only one percentage point in Q1 2021, to just over 360% of GDP.

New borrowing has slowed: with global bond issuance now back below pre- COVID levels, debt ratios should dip slightly this year given the projected recovery in global economic activity.

Still rising—mature market government debt, EM private-sector debt:

In mature markets, the financial sector accounted for nearly half of the decline in debt levels in Q1 2021, with household and non-financial corporate debt also declining slightly. In contrast, mature market government debt continued to increase, but at its slowest pace since Q4 2018.

Across emerging markets, the increase in debt was driven by the private sector. With EM government debt broadly stable, the non-financial corporate and financial sectors have been the main drivers of the debt buildup.

Greece, Singapore, and Spain have seen the sharpest increases in debt-to-GDP ratios (ex-financial sector) since the onset of the pandemic, though the pace slowed in Q1 2021. Denmark, Slovenia, Estonia, Finland, Lithuania, and the U.S. were the only mature market economies recording a decline in debt ratios (ex-financials) in Q1.

Government spending was the main driver of the overall rise in mature market debt ratios in Q1, increasing the most in Slovakia, Greece, Cyprus, Italy, and Spain.

Tentative signs of stabilization in global debt?

Global Debt
Source: IIF, BIS, IMF, National sources

Eyes on EM government debt:

While relatively stable in Q1 2021, the EM government debt-to-GDP ratio has surged from 52% in Q4 2019 to near 60%. Certainly, the increase in government debt ratios has been sharper in mature markets, up from 110% of GDP to near 135% of GDP over the same period.

The slower rise in EM government debt is largely a reflection of fiscal constraints—emerging markets simply have relatively less fiscal capacity. However, many EM sovereigns have stepped up borrowing significantly, with the median EM government debt level now around 15% higher than in 2019. While less than the 22% median increase in mature market government debt, this is still a big jump.

In our sample of EM countries, Brazil, and Argentina have been the only countries recording a decline in the USD value of government debt. Since the onset of the pandemic, the share of FX-denominated debt in total EM government debt (ex-China) has remained broadly stable at around 15%, though the reliance on FX has increased in Turkey and Chile.

Government revenues still under pressure in many emerging markets:

While near-term sovereign debt vulnerabilities in major EM economies have eased back to pre-pandemic levels, government revenues remain under pressure due to continued lockdowns.

Global Debt COVID-19 Response Drives $15 Trillion Surge In Global Debt, Set To Hit 365% of GDP By End Of 2020

With vaccination still relatively slow in many emerging markets, sovereigns with high borrowing need risk having persistently high interest expenses relative to revenues and GDP.

While global financing conditions remain strongly supportive, pandemic-related spending increases and revenue losses have made debt service a greater burden for many EMs including the Philippines, South Africa, India, Indonesia, and Turkey.

For many EMs, much-needed improvements in domestic tax regimes could help boost revenue capacity. However, heightened political and social tensions as the pandemic wear on could limit governments’ willingness to deliver structural tax reforms, leaving many sovereigns more reliant on domestic and international debt markets.

Planning for the future:

With climate change on top of the global policy agenda and the race to net-zero emissions accelerating—notably for international investors—emerging markets are under increasing pressure to accelerate the transition to a low-carbon economy. Failure to reduce reliance on carbon-intensive activities could add to upward pressure on EM government borrowing costs by reducing investor appetite for EM assets.

For example, a 10 per cent increase in climate vulnerability is estimated to increase EM sovereign spreads by 100 basis point on average. On the flip side, improvements in climate change resilience should help EM sovereigns to tap international debt markets at more favourable rates.

Indeed, some estimates suggest that fiscal spending on ESG priorities could boost economic activity by 3 to 11 times more than conventional government spending.

Higher growth and revenues would in turn help offset rising debt ratios while supporting the development of ESG bond markets to mobilize domestic and international resources towards green and sustainable investment projects in emerging markets—see our new Sustainable Debt Monitor.

Despite a slowdown in Q1 2021, there has been a sharp spike in debt ratios since the end-2019

Global Debt
Source: IIF, National sources

Fearless Energy Drink Powers Max Live Concert

Brand Spur
-
0
Fearless Energy Drink Powers Max Live Concert

Fearless energy drink, a premium brand of Rite Foods Limited, a truly world-class and proudly Nigerian Food and Beverage Company, has shown its commitment to the growth of the music and entertainment industry through the sponsorship of the upcoming Max Live Concert in Lagos.

The concert with the theme “Music Experience” and the slogan “Party of all Parties,” which is scheduled for Sunday, May 16, 2021, is being organised by Max FM 102.3.

The show will be featuring favourite artiste such as Reekado Banks, Ladipoe, Laycon, Blackbonez, Ckay, Skales, Falana, Crayon, Idahams, Ruger and Candy bleakz and other known artistes who will grace the concert.

Interestingly, Laycon who is the winner of the Big Brother Naija season 5, will be participating on stage. Known as Olamilekan Moshood Agbeleshe, he is a Nigerian media personality, rapper, singer, and songwriter and currently the youth ambassador of Ogun State.

One of the featured artistes, Reekado Banks, who has huge fan base in Nigeria and other countries in Africa including Ghana, will be adding colour to the event. He is a Nigerian singer and songwriter, with the real name Ayoleyi Hanniel Solomon.

This live entertainment show is majorly sponsored by the market leader in the energy drink segment, the Rite Foods’ Fearless energy drink brand comprising the Fearless Classic and Fearless Red Berry.

Speaking on the sponsorship, Rite Foods’ Brand Manager, Boluwatife Adedugbe, in an interview, said the lion mentality of I CAN, I AM of Rite Foods which has led to the production of premium brands has prompted the Fearless energy brand to identify with the hugely popular broadcast station in promoting entertainment.

She stated that the narrative of the Fearless brand as a market leader in the energy drink segment is no longer news, as its large share in the sector speaks for itself and has graciously become a reflection of the preference for the Fearless brand by consumers.

She pointed out that everything about Rite Foods is intentional, from the state-of-the-art facilities to the products, hence it has continued to produced brands of global standard, especially with the ground-breaking first-ever packaged polyethylene terephthalate (PET) bottle brands for the leading Fearless energy drink.

Established in 2007 as a subsidiary of Ess-Ay Holdings, Rite Foods’ has also set the pace in the beverage sector with its 12 leading variants which include 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.

Also, on the company’s stables are the Rite Spicy, Bigi Beef and Rite Sausages which have been the mark of excellence for the industry, while it’s Bigi Premium Table Water, produced with global best practices in purification, offers quality, freshness, confidence and reliability.

Samsung Ads Offers Nielsen’s Advanced Tv Measurement For Samsung Tv Plus Connected Tv Inventory

Esan Bolaji
-
0
Samsung Ads Offers Nielsen’s Advanced Tv Measurement For Samsung Tv Plus Connected Tv Inventory

ADVERTISERS CAN NOW LEVERAGE NIELSEN DIGITAL AD RATINGS (DAR) TO BUY AND MEASURE AD INVENTORY ON ONE OF THE MOST POPULAR AVOD SERVICES ON SAMSUNG SMART TVS

Samsung Ads, the advertising arm of Samsung Electronics and the global leader in advanced TV, announced today that advanced TV measurement from Nielsen is available for purchasing inventory on Samsung TV Plus, Samsung’s popular free ad-supported TV (FAST) service. Nielsen Digital Ad Ratings (DAR) will enable advertisers to more easily buy and optimize Samsung TV Plus inventory.

Samsung Ads

“Nielsen’s advanced TV measurement is a critical currency, and we believe this integration will support the continued growth of Samsung TV Plus, providing consistent ways for advertisers to measure and plan campaigns for the service,” said Tom Fochetta, SVP, Samsung Ads.

“As a pioneer in advanced and connected TV products and inventory, we know it’s essential to remove barriers to entry and simplify the ad buying and campaign management process. Nielsen Digital Ad Ratings does just that. It provides a consistent way to decision, measure and validate advertisers’ audiences.”

“With connected TV video advertising skyrocketing, the need for verified, third-party metrics is critical to simplify the buying process and unlock additional value and growth,” said Ameneh Atai, GM, Digital and Advance TV Commercial Strategy, Nielsen.

“By expanding our advanced TV measurement to include Samsung Ads, we are keeping our commitment to provide comprehensive coverage of the CTV marketplace. And as the industry continues to evolve, we want to provide brands the cross-media metrics needed to confidently activate campaigns and transact across platform.”

Nielsen Digital Ad Ratings will be available to advertisers that purchase media via Direct I/O or through Samsung’s Private Marketplace (PMP). As both a hardware company with exclusive deterministic viewership data and a CTV platform, Samsung Ads is uniquely positioned as the bridge transitioning advertisers from a linear past to a CTV future.

“The ability to use Nielsen Digital Ad Ratings for Samsung TV Plus inventory has provided us with the confidence and information we needed to be able to expand our campaigns via Programmatic pipes,” said Sara Sorce, AVP of Paid Media, at Nationwide and a select alpha partner for Nielsen measurement on Samsung TV Plus.

“The Samsung Ads Private Marketplace has enabled us to purchase inventory in a way that works best for our needs, and the combination of Nielsen Digital Ad Ratings allows us to standardize how we measure Samsung TV Plus, along with all the other CTV and linear we buy.”

Samsung TV Plus is the leading FAST service on Samsung smart TVs. The service has grown 84% in monthly active users year-over-year. When it comes to AVOD apps specifically, Samsung TV Plus is the No. 2 most watched app on Samsung TVs. More than half of Samsung TV Plus viewers are cord cutters or cord nevers, and 90% of Samsung TV Plus viewers do not use any connected streaming media devices and instead stream directly from their Samsung smart TVs.

This announcement is the first step in the Samsung Ads and Nielsen relationship. Samsung Ads will be included in Nielsen ONE, scheduled for release in late 2022, which aims to provide complete standardization for demographic buying within the fragmented ad marketplace.

Eid Mubarak: Rite Foods Limited Felicitates With Muslim Faithful

Brand Spur
-
0
Eid Mubarak: Rite Foods Limited Felicitates With Muslim Faithful

As Muslim faithful marks Eid Mubarak festival, Rite Foods Limited, a truly world-class and proudly Nigerian Food and Beverage Company, wishes its consumers and Nigerians a happy celebration which is intended at ushering peace and happiness after the Ramadan fasting period.

The festival marks the end of the month-long dawn-to-sunset fasting in the fulfillment of the fourth pillar of Islam.

Commending the successful completion of Ramadan which has resulted in the Eid Mubarak being celebrated, Rite Foods Limited Managing Director, Mr. Seleem Adegunwa, said ” As Muslims all over the world commemorate this great occasion of refreshing moments with Allah, we at Rite Foods will like to share with our consumers all over the world this moment of celebration.

“All our products from twelve variants of the Naija favorites Bigi soft drinks to the number one energy drink Fearless and the Rite Foods sausages, are available for the enjoyments of our consumers at this special moment as always”.

He added that the company will continue to produce quality products for the goodness of all, and all occasions of great celebrations. He prays that the guidance of Allah will continue to be with the Nigerian nation and its citizenry wherever they may be. “May the lives of our consumers continue to be nourished by the mercy of Allah.”

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.

It has set the pace in the beverage sector with its 12 leading variants which include 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.

Also, on the company’s stables are the 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.

Naira Weakens against USD at Most Market Segments Despite CBN’s Move

Cowry Research
-
0
Naira Weakens against USD at Most Market Segments Despite CBN’s Move

In the just concluded week, Naira depreciated against the USD at the Investors & Exporters Window, Bureau De Change and Parallel “black” markets by 0.33%, 0.42% and 0.21% to close at N411.67/USD, N480.00/USD and N484.00/USD respectively.

In the course of the week, CBN made effort to harmonise the official rate of N379/USD and the NAFEX (I&E) window rate as it removed the official rate from its website. Despite the Central Bank of Nigeria (CBN) move we still saw pressure on the greenback today even as external reserves declined w-o-w by 0.39% to N34.57 billion.

Meanwhile, NGN/USD exchange rate closed flat at N380.69/USD at the Interbank Foreign Exchange market amid weekly injections of USD210 million by CBN into the forex market: USD100 million was allocated to Wholesale Secondary Market Intervention Sales (SMIS), USD55 million was allocated to Small and Medium Scale Enterprises and USD55 million was sold for Invisibles.

Retail investors VAT Naira Gains against the USD at BDC, Black Markets amid New Forex Policy…
REUTERS/Akintunde Akinleye

Elsewhere, the Naira/USD exchange rate depreciated for most of the foreign exchange forward contracts: 1 month, 2 months, 3 months, 6 months and 12 months exchange rates rose by 0.02%, 0.11%, 0.11%, 0.04% and 0.01% to close at N413.06/USD, N416.22/USD, N418.97/USD, N427.67 and N445.50/USD respectively.

However, the spot rate remained flat at N379.00/USD.

In the new week, we expect Naira/USD to stabilize at most FX Windows as CBN has begun the process of harmonising the exchange rates given the report that it longer sells dollars to the public sector at the official rate.

It now sells at the I&E FX window at the going rate.

1...1,9741,9751,976...3,975Page 1,975 of 3,975