#WorldMalariaDay: Itel, Amatem Softgel, Drug Aid Africa Distribute Relief Items

Esan Bolaji
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#WorldMalariaDay: Itel, Amatem Softgel, Drug Aid Africa Distribute Relief Items

To commemorate this year’s World Malaria Day, itel, one of Africa’s topmost smartphones, accessories manufacturer has partnered with Amatem Softgel, a leading anti-malaria drug in Nigeria, and Drug-Aid Africa, an NGO that provides medical drug supplies and support to low-income patients in Nigeria and across Africa.

In tandem with the theme of this year’s World Malaria Day, ‘Zero Malaria Starts with Me’, the three brands joined the global fight against malaria by donating treated mosquito nets, free medical tests, mosquito-repellent cream and free anti-malaria drugs to over 1,500 households in Isale Akoka.

#WorldMalariaDay: Itel, Amatem Softgel, Drug Aid Africa Distribute Relief Items-Brand Spur Nigeria
#WorldMalariaDay: Itel, Amatem Softgel, Drug Aid Africa Distribute Relief Items-Brand Spur Nigeria

The partnership was birthed on the need to ensuring a relatively healthier society to stamp out malaria, a prevalent disease in sub-Saharan Africa that is responsible for thousands of deaths yearly.

itel’s Marketing Manager for West Africa and Nigeria, Oke Umurhohwo: “We always try to bridge the gap in low-income communities through our Love Always On CSR initiative.

“And partnering with Amatem Softgel and Drug Aid Africa to provide these communities with an even greater fighting chance against malaria is a part of our commitment to them.”

#WorldMalariaDay: Itel, Amatem Softgel, Drug Aid Africa Distribute Relief Items-Brand Spur Nigeria
An Amatem Softgel Representative with A Beneficiary

“Malaria is a life-threatening disease, but it is preventable and curable,” said Shivakumar, GM/COO at Elbe Pharma. “We at Elbe continue to find a better way to combat this disease, support the vulnerable ones especially the young children. Hence, the introduction of this innovative anti-malaria brand Amatem Softgel and this CSR partnership.”

#WorldMalariaDay: Itel, Amatem Softgel, Drug Aid Africa Distribute Relief Items-Brand Spur Nigeria
Itel Product Beneficiary- Brand Spur NIgeria

In the words of the Programme Officer, Drug-Aid Africa, Oluseyi Sanyaolu, “malaria has been ravaging the vulnerable in the society for years. That is why Drug-Aid Africa is dedicated to supporting those in indigent communities with medicines and medical supplies. Together, we can end this menace.”

African Tech Startup Startweb Africa To Launch Easy-To-Use ‘Website Builder’ For Business Owners And Professionals

Esan Bolaji
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African Tech Startup Startweb Africa To Launch Easy-To-Use ‘Website Builder’ For Business Owners And Professionals

… Proprietary Platform Helps Business Owners With Little Or No Technical Skills To Seamlessly Build and Launch A Website In Minutes.

African Tech Startup Startweb Africa To Launch Easy-To-Use ‘Website Builder’ For Business Owners And Professionals

Transcorp Makes New Board Appointments, Announces New Subsidiary CEO

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Transcorp Makes New Board Appointments, Announces New Subsidiary CEO

The Board of Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s largest listed conglomerate a leading investor in the Nigerian energy sector has announced the appointments of Mr. Victor Famuyibo and Mallam Ahmadu Hamman Sambo to its Board of Directors.

Transcorp also formally announced the appointments of two new members of its executive management team, Engr. Vincent Ozoude, as MD/CEO of Trans-Afam Power Ltd, and Mr. Peter Ikenga, as MD/CEO of Transcorp Energy Ltd.

Famuyibo is joining the Board with deep experience and knowledge in Human Resources and Personnel Management. He worked with multinational companies such as UAC Nigeria, Heineken International and Nigerian Breweries Plc, where he led numerous teams to drive strong employee engagement.

He retired from Nigerian Breweries as Director of Human Resources and a Member of the Board after a distinguished career of 32 years in the company.

Mallam Sambo has over 30 years’ work experience in the Private and Public Sectors in Nigeria and the United States of America. He retired as Group General Manager in charge of Group Finance for the Nigerian National Petroleum Corporation (NNPC). Prior to this, he was the Managing Director of NNPC Oilfield Services Limited, NIDAS Marine Limited and NNPC Pension Fund Limited between 2011 and 2016. In recognition of his meritorious service, he received numerous awards, including the First Place Ministerial Award for outstanding Staff Performance from the Honorable Minister of State for Petroleum Resources.

He is a Member of the Commonwealth of Massachusetts Board of Accountancy and State of New Hampshire Board of Accountancy. He is also a Member of the Massachusetts Society of Certified Public Accountants and National Association of Black Accountants.

Vincent Ozoude is the MD/CEO of Trans-Afam Power Ltd. He joined Transcorp Group from General Electric (GE) Inc-Sub Sahara Africa, where he was Sales Director, covering the entire Sub-Saharan Africa for General Electric Power Generation Services portfolio. A graduate of Chemical Engineering with Masters in the same field from Enugu state University of Science and Technology, Vincent is leading Transcorp’s recently acquired 966MW power plant asset, Afam Genco, which comprises of Afam Power Plc and Afam Three Fast Power Ltd.

Engr. Ozoude has over 20 years of work experience in the Power Generation services sector, was at some time a member of GE Field Engineers advisory board for Africa and Middle East region, a greenbelt lean six sigma qualified and won numerous awards such as Everyday Excellence Expertise Award from GE Global leadership, Clear Thinker Award amongst others.

Peter Ikenga is the MD/CEO of Transcorp Energy to lead the Conglomerate’s integrated energy strategy, with a particular focus on Gas, Renewables, and Alternative Energy. He brings with him, a wealth of global professional experience, having directly developed and managed major Oil, Gas and power assets and operations in multiple regions including Nigeria, Brazil and the United States of America for Shell Nigeria and Shell International. Prior to joining the group, Peter was Refining Director for an Indigenous Oil and Gas operator in Nigeria.

Commenting on the appointments, the Chairman of Transcorp Group, Mr. Tony O. Elumelu, CON stated, “Transcorp has made a succession of important recent business acquisitions, consolidating our position in the power, oil and gas sectors, demonstrating our commitment to Nigeria’s economy and the rapid advance in our integrated power strategy. We are delighted to complement these with further investment in human capital.

These announcements illustrate the depth, diversity and quality of experience of our leaders, both executive and non-executive. Our Board and management team, led by the President/Group CEO, Mrs. Owen Omogiafo, are further capacitised to deliver our vision. Mr. Famuyibo, with his considerable experience in human resources, will be invaluable in working with management to deliver cutting-edge employee management practices.

Mallam Sambo brings crucial knowledge of the energy sector, further accelerating our integrated energy strategy”.

Mr. Elumelu said: “Peter and Vincent, working with our existing CEOs, Mr. Chris Ezeafulukwe, MD/CEO Transcorp Power Ughelli and Mrs. Dupe Olusola, MD/CEO Transcorp Hotels Plc, will contribute to the Group’s mission of “Improving Lives and Transforming Nigeria”. With the acceleration in our integrated energy strategy and the expansion of our hospitality business, notably the recently launched digital hospitality platform, Aura by Transcorp, we are closer to our goal of powering one in every four homes in Nigeria and redefining the standards of hospitality in Africa.

This investment in human capital demonstrates, once again, our commitment to bring together the best, to ensure the execution and value creation that our stakeholders expect”.

JCDecaux Expanding Roadside Digital Network

Esan Bolaji
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JCDecaux Expanding Roadside Digital Network

JCDecaux Africa continues advancing digitalisation across the country and continent by developing a range of solutions across densely populated metros, transport hubs and shopping malls. Gearing the business to address the industry’s changing needs with greater accountability and flexibility.

JCDecaux Expanding Roadside Digital Network Brandspur nigeria

JCDecaux Africa is proud to announce the latest addition to our roadside digital network, located north of Pretoria, in the highly populated suburb of Soshanguve, which has an estimated population of 866k residents.

The site forms part of a growing national network of digital sites, focused on providing advertisers access to the mass market audience at scale, affording brands to deliver targeted and contextual location-based campaigns.

Advertisers can plan proximity-based campaigns using location-based data to promote a different brand and promotional messaging that is localised, factoring such elements as travel patterns, shopping habits and interests associated with frequented points of purchase, amongst others.

JCDecaux Expanding Roadside Digital Network Brandspur nigeria

The new Soshanguve site is in proximity to a host of residential and retail outlets such as seven shopping centres, 23 filling stations, 26 QSRs, 49 clothing stores and a major taxi rank. Enabling brands to connect with a highly sought-after consumer segment with localised creative messaging to create a meaningful brand connection.

The new site is situated on Commissioner street, a key taxi route, targeting traffic from Soshanguve, driving towards Mabopane and Pretoria. The site delivers an estimated reach of 318 282, with an average frequency of 11 and 3.4 million immersions per month, targeted at the mass market, at a CPT of R8.18.

Digital Out-of-Home offers advertisers’ value and flexibly and through rich insights, improved planning, targeting and accountability along the commuter journey. We aim to offer dynamic advertising platforms that enable brands to deliver relevantly, creative messaging that is localised to the audience and area through location intelligence.

One of the most comprehensive studies into the power of relevancy in Out of Home, called “The Moments of Truth”, commissioned by JCDecaux UK, Clear Channel, and Posterscope,  revealed that Digital Out-of-Home campaigns that use contextually relevant messaging achieve an average of +17% more effective audience response.

JCDecaux Africa plans to continue advancing digitalisation across the country and continent by developing a range of digital solutions across high traffic locations in densely populated metros, transport hubs and shopping malls.

Gearing the business to address the Out-of-Home industry’s current and future needs by connecting advertisers and agencies with diverse consumer segments on a localised level, with greater accountability and flexibility.

eCommerce Losses to Online Payment Fraud to Exceed $20Bn Annually in 2021

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eCommerce Losses to Online Payment Fraud to Exceed $20Bn Annually in 2021

eCommerce Losses to Online Payment Fraud to Exceed $20Bn Annually in 2021

26th April 2021: A new study from Juniper Research has found that the value of losses due to eCommerce fraud will rise this year, from $17.5 billion in 2020 to over $20 billion by 2021; a growth of 18% over a single year.

The research found that fraudsters have targeted consumers as they have increased their eCommerce use; exposing insecure fraud mitigation processes from merchants who are unfamiliar and unprepared with the continuing fraud challenges in this market.

The research identified that merchants need to do more to implement fraud prevention strategies across all of their eCommerce channels, or they will continue to experience large losses. The use of AI will enable behavioural biometrics in this area, which will increase security across all potential fraud channels.

Increased Security Must Not Involve Increased Friction

The new research, Online Payment Fraud: Emerging Threats, Segment Analysis & Market Forecasts 2021-2025, found that while merchants will be keen to reduce fraud rates from their current levels, they will be hesitant to introduce extra friction into the checkout process. The report identified that clear messaging around security checks and automated behavioural analytics leveraging AI are key capabilities in preserving the user experience.

Research co-author Susan Morrow explains:

“While the need for security is greater than ever, the competitive eCommerce environment means merchants will need to ensure that extra security checks are justified to the user, or they risk higher cart abandonment rates.”

China Will Be the Single Largest eCommerce Fraud Market

The research also found that China will be the largest single eCommerce fraud market in the world; accounting for over 40% of eCommerce fraud losses globally in 2025, at over $12 billion.

The research identified a massive eCommerce market and a relative lack of fraud detection and prevention platform deployment as the key drivers behind this. The research recommends that merchants operating in China should invest in fraud detection and prevention now, or they will increasingly face damage to their already slim operating margins.

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Axa Mansard Pensions Announces Change Of Name To Tangerine Pensions Ltd

Esan Bolaji
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Axa Mansard Pensions Announces Change Of Name To Tangerine Pensions Ltd

26th April 2021- Upon receipt of all necessary approvals from the National Pension Commission (PenCom), AXA Mansard Pensions Limited has announced a rebrand and change of name to Tangerine Pensions Limited. This follows the completion of the acquisition of 100% of AXA Mansard Pensions Limited’s equity by Eustacia Limited, a company controlled by Verod Capital Management Limited.

Axa Mansard Pensions Announces Change Of Name To Tangerine Pensions Ltd

Verod is a leading West African private equity firm, focused on creating economic value across Africa. The firm is active across various sectors, including, life and general insurance, other financial services, light manufacturing, consumer goods, business services, agriculture, education, and healthcare.

Verod is backed by a rich blend of mainly foreign and local institutional investors, including pension funds, sovereign wealth funds, insurance companies, asset management firms, fund of funds, family offices and development finance institutions.

AXA Mansard Pensions was incorporated as Penman Pensions Limited in 2006 and AXA Mansard Insurance Plc became the majority shareholder of the company from 2014 until 2020. As of today, 26th April 2021, the organization, which has undergone a rebranding and name change process, will now be referred to as Tangerine Pensions Limited.

Speaking on the rebrand Dapo Akisanya, CEO, Tangerine Pensions Limited (formerly AXA Mansard Pensions Limited), said:

“The conclusion of this acquisition after receiving all regulatory approvals has put the company in a position to build an even more successful organization, with our future growth anchored on delivering impeccable customer service and driven by best practices.

Our change of ownership and rebranding give us an opportunity to do so much more for our customers, whilst focusing on being the premier pension provider, availing customers multi-channel access to superior retirement solutions. We are committed now, more than ever, to building life-long financial partnerships with our clients, giving them access to an assured future”

Tangerine Pensions Limited is a leading Pension Fund Administrator managing a number of approved employee schemes including the traditional RSA and Retiree portfolios. The company has a dedicated team of professionals serving over 89,000 customers with Assets under Management of over ₦74 billion.

Forex Market: Naira Appreciates Against USD At Investors & Exporters Window

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Forex Market: Naira Appreciates Against USD At Investors & Exporters Window

In the just concluded week, Naira strengthened by 0.24% against the USD at the Investors & Exporters window to close at N410.00/USD even as the external reserves moderated by 0.27% to close at N35.12 billion as at Thursday, May 22, 2021.

However, Naira depreciated at the Bureau De Change and Parallel “black” markets by 0.42% and 0.62% to close at N480.00/USD and N485.00/USD respectively.

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.

Elsewhere, the Naira/USD exchange rate fell (Naira appreciated) for most of the foreign exchange forward contracts: 2 months, 6 months and 12 months exchange rates fell by 0.09%, 0.01% and 0.13% to close at N416.32/USD, N428.59/USD and N447.69/USD respectively.

However, the 1 month and 3 months exchange rates rose by 0.21% and 0.04% to close at N413.70/USD and N419.70/USD respectively; while the spot rate closed flat at N379.00/USD.

In the new week, we expect Naira to weaken against the USD at most FX Windows as crude oil prices fall amid fresh concerns about another wave of the COVID-19 pandemic.

Equities Market Rebounds By 1.27% Amid Renewed Positive Sentiment

Esan Bolaji
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Equities Market Rebounds By 1.27% Amid Renewed Positive Sentiment

In the just concluded week, the Nigerian equities market index halted its downtrend having traded on a bullish note in all five trading days.

We saw renewed positive sentiment amid positive Q1 2021 Financial Results releases by corporates. Consequently, the NSE ASI increased week-on-week by 1.27% to close at 38,808.01 points.
Specifically, the NSE Banking index gained 4.82% to close at 359.57 points amid rising share prices of UBA, GUARANTY and STANBIC.
Similarly, performance across the remaining sub-sector gauges tracked closed in green zone; the NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and the NSE Industrial indices rose by 0.40%, 1.05%, 0.29% and 0.50% to 194.12 points, 558.45 points, 265.65 points and 1,902.76 points respectively.
Meanwhile, trading activity was mixed as total volume and value of stocks traded increased by 22.26% and 284.04% to 1.53 billion units and N41.31 billion respectively. However, total deals traded fell by 5.79% to 18,812 deals.
In the new week, we expect the domestic equities market to trade sideways even as Q1 2021 financial results roll in. As the financial results are released, investors are likely to tweak their positions in favour of companies that print good increases in earnings with the possibility of a high dividend payout ratio.

Nigeria To Conduct Census In Q1’2022 As NPC Demarcates 629 LGAs For Headcount

Cowry Research
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Nigeria To Conduct Census In Q1’2022 As NPC Demarcates 629 LGAs For Headcount

In the just concluded week, the Federal Commissioner and Chairman of the Public Affairs Committee of the National Population Commission (NPC), Mr. Abdulmalik Durunguwa, reportedly said that the Commission awaits President Muhammadu Buhari’s approval to conduct an accurate and reliable national census by the first quarter of 2022.

He noted that plans are underway to commence work as the President had recently approved N10 billion intervention fund which enabled the Commission to carry out Enumeration Area Demarcation (EAD) of 629 Local Government Areas – EAD precedes the conduct of the national census and it is expected to be completed by July 2021.

Nigeria To Conduct Census In Q1’2022 As NPC Demarcates 629 LGAs For Headcount Brand Spur Nigeria
Photo by Muhammadtaha Ibrahim Ma’aji

The enumeration of the local government areas would help the Commission determine the number of enumerators to be deployed during the national census. Notably, the Commission promised to deploy technological innovations, which include customized software that would fast-track demarcation of areas, and high imagery resolution satellite technology.

In another development, the State Governors finally pledged to implement the financial autonomy granted to state Judiciaries and legislatures by the 1999 constitution, as amended, after the Judicial workers embarked on several weeks of indefinite strike action to press on their demand.

The state governors have unnecessarily dragged the financial independence of the other arms of government for so long, despite the signing of Executive Order 10 (that enforces the constitutional provisions for financial autonomy for the state, judiciaries) by the Federal Government, as the financial dependency of the Judiciaries and legislatures gave the state governors controlling power over the other tiers of government.

We feel that the conduct of the national census has been long overdue given the importance of accurate data to making strategic and economic plans in a country – the last national census in Nigeria was conducted in 2006.

The World Bank estimated Nigeria’s population to be 200,963,599 people in 2019, increasing from 195,874,740 people in 2018.

These figures which were based on mere estimates can only propel minimal development.

Hence, with the eventual conduct of the national census, the country may be on the right track to reviewing its national population policy as it affects the birth rate, access to health, affordable housing and other social-economic needs that would allow Nigerians to function effectively.

Africa Prudential Reports 12% Rise in Profit to ₦381.35M in Q1 2021

Esan Bolaji
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Africa Prudential Reports 12% Rise in Profit to ₦381.35M in Q1 2021

Africa Prudential Plc released its Q1 2021 Unaudited results for the period ended March 31st 2021. Africa Prudential’s Gross Earnings rose 11% y/y to ₦0.83 Billion, with interest and non–interest income contributing 63% and 37% respectively. Interest Income declined by 23% y/y to ₦0.47 Billion.

Income Statement:

  • Revenue from contracts with customers: N0.36 Billion, compared to N0.13 Billion in Q1 2020 (172% YoY Increase);
  • Interest Income: N0.47 Billion, compared to N0.61 Billion in Q1 2020 (23% YoY Decline);
  • Gross Earnings: N0.83 Billion, compared to N0.74 Billion in Q1 2020 (11% YoY Increase);
  • Profit Before Tax: N0.48 Billion, compared to N0.41 Billion in Q1 2020 (16% YoY Increase);
  • Profit After Tax: N0.38 Billion, compared to N0.34 Billion in Q1 2020 (12% YoY Increase);
  • Earnings Per Share: 19 Kobo (17Kobo in Q1 2020).
Africa Prudential Plc Records 6% PAT decline in Q3 2020 Brandspurng1
Managing Director/CEO of Africa Prudential, Mr. Obong Idiong | www.wordpress-1516176-5827464.cloudwaysapps.com

Balance Sheet:

  • Total Assets: N31.12 Billion, compared to N17.73 Billion as at FY 2020 (75.6% YTD Increase);
  • Total Liabilities: N23.42 Billion, compared to N9.36 Billion as at FY 2020 (150% YTD Increase);
  • Shareholders’ Fund: N7.7 Billion, compared to N8.37 Billion as at FY 2020. (8% YTD Decrease)

Comparing Q1 2021 to Q1 2020, we observed the following key items worthy of note:

  • Revenue from contracts with customers: During the period under review, Revenue from contracts with customers increased by 172% year-on-year on the back of a 975% increase in fees from corporate actions, 144% growth in register maintenance and 27% increase in digital consultancy.
  • Interest income: On the other hand, the company recorded a 23% Year-on-Year decline in interest income driven by the 19% decline in interest on loans and advances due to the low yield environment as interest income from Treasury bills declined 100%.
  • Profit After Tax: This increased by 12% year-on-year, due to the 11% increase in gross earnings as well as an 18.6% decline in personnel expenses.

Comparing Q1 2021 to FY 2020, the following were observed in the Balance Sheet:

  • Total Assets: In the first quarter of 2021, the total assets increased 75.6% on the back of a 1,243% surge in cash and cash equivalents as well as a 168% increase in trade receivables.
  • Total Liabilities: The company total liabilities increased by 150% Year-till-date driven by a 160% increase in customers’ deposits which accounted for about 96% of the company’s liabilities.
  • Shareholder’s Wealth: The shareholder’s wealth declined by 8% due to the 9% decline in retained earnings due to dividend paid by the company during the period.
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