Nestlé Partners With IFRC On Equitable COVID-19 Vaccination

Esan Bolaji
-
0
Nestlé Partners With IFRC On Equitable COVID-19 Vaccination

Nestlé, the International Federation of Red Cross and Red Crescent Societies (IFRC) and the National Red Cross and Red Crescent Societies have today announced a new partnership to support broad and equitable access to COVID-19 vaccines.

With more than CHF 6 million of new financial support from Nestlé, the partnership will accelerate the delivery of vaccines to underserved communities around the world.

Nestlé Partners With IFRC On Equitable COVID-19 Vaccination

“The development of effective vaccines against COVID-19 has given the world hope,” said Jagan Chapagain, Secretary-General of the International Federation of Red Cross and Red Crescent Societies. “Our partnership with Nestlé will help secure quick and equitable access to vaccines to those most in need, particularly in low-income countries.”

Nestlé’s donation approach allows for a flexible response, including a contribution to the IFRC global appeal as well as targeted in-country support in vulnerable countries and regions including in sub-Saharan Africa, Asia, the Middle East and the Americas.

Much of the work on the ground will be through the local structures of the National Red Cross and Red Crescent Societies. It will focus on the establishment of vaccination sites, the transport of vaccines, information campaigns and promotion of the vaccination of high-risk groups.

Lisa Gibby, Head of Corporate Communications at Nestlé said:

“Nestlé’s collaboration with the IFRC during this pandemic builds on a two-decade-long partnership. Together, we can support vaccine equity and help communities everywhere find a way out of this crisis.”

This donation complements a recently announced contribution to the COVID-19 Solidarity Response Fund. This fund supports plans by COVAX to rapidly scale up the international delivery of vaccines to low-income countries.

We are also working directly with government authorities in some countries to provide donations and support for local vaccination programs.

Through these combined initiatives Nestlé has committed CHF 10 million to equitable vaccination efforts to date.

The support for equitable access to vaccines is just the latest phase in Nestlé’s response to the COVID-19 crisis. We will continue to engage in the fight against the pandemic and its consequences, protecting people, maintaining the global food supply and giving a helping hand to our local communities.

Nestlé and the IFRC are long-standing partners. In 2020, the two organizations responded to the COVID-19 pandemic in a joint effort aimed at supporting caregivers and strengthening healthcare systems. The program benefited millions of people in communities across 50 countries in all parts of the world.

FrieslandCampina WAMCO, Global Dairy Giants Partner to Boost Dairy Self-Sufficiency in Nigeria

Esan Bolaji
-
0
FrieslandCampina WAMCO, Global Dairy Giants Partner to Boost Dairy Self-Sufficiency in Nigeria

FrieslandCampina WAMCO forms dairy consortium in Nigeria

Nigeria targets to increase milk production from the current 600,000 metric tonnes to 1,700,000 metric tonnes by 2024, in a bid to reduce the US$1.5 billion dairy importation bill incurred by the country annually.

To achieve this target, the government is set to provide the needed infrastructure to enhance milk aggregation and distribution.

Nestlé joins US dairy industry to reach net zero carbon emissions by 2050
Nestlé joins US dairy industry to reach net zero carbon emissions by 2050 | www.wordpress-1516176-5827464.cloudwaysapps.com

The private sector has also joined the initiative with four leading dairy players in Nigeria forming a consortium, aimed to bring knowledge, high-quality products and long-term farming improvements to Nigeria.

These companies led by FrieslandCampina WAMCO, include URUS, Barenbrug and Agrifirm who have set up a strategic partnership tagged ‘Value4Dairy’ to increase self-sufficiency for dairy in Nigeria.

The consortium was launched by Vice President Yemi Osinbajo ably represented by the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo.

Also, in attendance was the Honorable Minister for Agriculture and Rural Development, Alhaji Sabo Nanono.

According to FrieslandCampina WAMCO, the partnership is built on the companies’ global achievements and experiences with which they will accelerate sustainable dairy development to deliver high-quality nutrition for everyone involved in the dairy chain from farmer to consumer.

“Over the past months, we have discussed with these partners on ways to accelerate the progress of the Nigerian dairy sector. Our goal is to invest in local business models to enable the dairy sector to become self-sufficient and profitable throughout the entire chain.

“These companies represent the top of the global expertise in the dairy sector with proven performance in the field, excellent reputation with Royal status and maintaining world-leading market positions,” said Managing Director, FrieslandCampina WAMCO Nigeria PLC, Ben Langat.

FrieslandCampina WAMCO has been a necessary part of most Nigerian homes since 1954 through its iconic brand Peak Milk, which will bring its expertise in specialized milk collection and processing.

URUS, a top provider for bovine genetics, cattle management software, dairy management reports, milk and soil testing, and calf care products, among others, will offer better breeding under the partnership.

Proper roughage production will be undertaken by Barenbrug, a Netherlands headquartered company with115-years of experience in research, development and production of grass seeds and legumes for agricultural and recreational markets.

Leading Dutch cooperative Agrifirm founded over 120 years ago offers its farming and feeding industry customers worldwide, measurable, sustainable and relevant solutions for the challenges they face every day.

Under the consortium, the firm will provide fitting animal feed to Nigeria’s dairy sector.

The partners will help to integrate the dairy sector and formulate homegrown methods to solve challenges, which previously hindered growth.

The consortium is currently working on defining synergetic plans that will increase local milk production and processing; for instance, combined infrastructures for the distribution of milk and semen.

They would train farmers to succeed more with better cow semen, grass seeds and feed supplements.

The business model along the entire dairy chain is expected to become more efficient and attractive to further investments; with the ultimate ambition of promoting a thriving and self-sustaining dairy sector.

Other than this recent initiative, FrieslandCampina WAMCO Nigeria is developing Nigeria’s first expertise centre for dairy development, the Centre for Nigerian Dutch Dairy Development (CNDDD).

The CNDDD will be the expert research and training institute for dairy development in the country focusing on breeding, farming and feeding management, as well as quality control and productivity (yield per cow).

Eko Atlantic’s Green City Commitment: On a mission to plant over 200,000 trees

Esan Bolaji
-
0
Eko Atlantic’s Green City Commitment: On a mission to plant over 200,000 trees

  • Eko Atlantic City will be a green city with over 200,000 trees of different varieties and sizes.

  • This reiterates the developer, South Energyx Nigeria Limited’s desire to build an environmentally friendly city.

  • The city’s road network, drainage system, and other infrastructure also point to the green city mandate.

As we commemorate Earth Day 2021, South Energyx Nigeria Limited, developer and planner of Eko Atlantic City, has restated its commitment to building an environmentally friendly city.

Trees-in-Eko-Atlantic-City Brandspurng Eko Atlantic's Green City Commitment On a mission to plant over 200,000 trees

By planting over 200,000 trees, using energy-efficient building materials where possible, and developing well-planned roads and infrastructure, Eko Atlantic City is blossoming into a new city with a green future.

At least 30 varieties of trees and plants are grown in the company’s 45,000 sqm nursery in Eko Akete. Then, they are transplanted to Eko Atlantic City once they are ready.

All roads in the city are lined with trees and shrubs, providing cleaner air and improving environmental quality. The streets are also lined with LED streetlights which consume considerably less energy than regular sodium lamps. This way, the city’s developers balance both the need for quality infrastructure and environmental preservation.

Ronald Chagoury Jr, Vice Chairman of Eko Atlantic, said,

“Alongside our commitment to planting trees, developers in the city are currently looking to implement solar power for their buildings which will increase the use of renewable energy in the city.

“We are also constantly looking out for the latest technologies and techniques to further improve energy and resource efficiency within the city. Some of these include smart buildings, efficient energy storage, and smart monitoring. We believe that we will achieve greater levels of energy efficiency as the city continues to develop.”

 

How Brands are changing the face of smart cities brandspurng
Amara Eko Atlantic

In January 2020, Alpha1, the first office tower in the city, became the first building to be EDGE-certified by the International Finance Corporation, a member of the World Bank Group.

‘EDGE’ stands for Excellence in Design for Greater Efficiency. It is issued to developers and buildings that have identified the most cost-effective ways to reduce energy use, water use and embodied energy in materials. Research shows that green buildings use up to 30% less energy than conventional buildings.

In line with this green commitment, the roads in Eko Atlantic City are built with concrete blocks instead of asphalt. Because of their light colour, the concrete blocks absorb less heat from the sun when compared to asphalt. This lowers the overall core temperature of the city.

Eko Atlantic City also has roundabouts instead of four-way intersections. Studies show that roundabouts ensure safer and more efficient traffic flow. Also vital to traffic management is the city’s prohibition of street parking by providing basement parking for several developments. This ultimately reduces the number of cars on the road and minimises carbon emission from idle vehicles in traffic.

Upon completion, Eko Atlantic City will be home to approximately 300,000 residents and 250,000 commuters, who will also enjoy environmentally-friendly means of transportation as the technology continues to develop.

With its Green City Commitment, Eko Atlantic sets the environmental standard for new emerging cities worldwide and contributes to a cleaner, healthier, and more environmentally friendly Lagos.

FBN Holding Plc, The Elephant’s Resurgence

WSTC Research
-
0
FBN Holding Plc, The Elephant’s Resurgence

FBN Holdings Plc in its recently released full-year results, reported a 2% decline in gross earnings from N590.29bn in FY 2019 to N578.95bn in FY 2020. On the back of a low-yield environment, interest income declined by 11% YoY from N431.93bn in FY 2019 to N384.79bn in FY 2020.

Non-interest income, however, grew by 23% YoY from N158.37bn in FY 2019 to N194.15bn in FY 2020 – driven by net gains on investment securities (+175% YoY from N17.49bn to N48.08bn), and fee and commission income (+10% YoY from N103.38bn to N113.32bn). Driven by a solid non-interest income growth, operating income grew by 3% YoY from N366.38bn in FY 2019 to N375.72bn in FY 2020.

The Group’s cost-to-income ratio lowered by 100 basis points from 79% in FY 2019 to 78% in FY 2020. As a result, profit before tax grew by 11% YoY from N75.29bn in FY 2019 to N83.70bn in FY 2020 while profit after tax grew by 14% YoY from N66.04bn in FY 2019 to N75.59bn in FY 2020.

The Group declared a N0.45 dividend for FY 2020 (FY 2019: N0.38). The dividend qualification date is on April 20, 2021, while the dividend payment date is on April 28, 2021.

Cheap Funding Booked Amid Financial System Liquidity Glut

The 2020 financial year was characterised by excess liquidity in the financial system, as various Central Banks across the globe implemented accommodative monetary policies to cushion the negative impact of the coronavirus pandemic.

We note that prior to the pandemic, the Nigerian monetary policy had implemented policies aimed at driving private sector credit growth, in the form of regulatory Loan-to-Deposit (LDR) threshold, and the unwinding of the CBN OMO liabilities.

The Central Bank of Nigeria (CBN), in 2019, placed a ban on corporates and local investorsfrom participating in the OMO auctions. The combination of the earlier laid-out policies to drive credit growth, and the extraordinary dovish monetary policy stance of the CBN during the pandemic resulted in cheaper funds booked by the Group in FY 2020. Customer deposit grew by 22% YoY from N4.02trn in FY 2019 to N4.89trn in FY 2020, largely driven by current and savings (CASA) deposits.

Current deposits rose by 44% YoY from N1.05trn in FY 2019 to N1.51trn in FY 2020, while savings deposits grew by 36% YoY from N1.32trn in FY 2019 to N1.79trn in FY 2020.

As a result, the Group’s CASA rose from 59% in FY 2019 to 67% in FY 2020. The resulting implication was in the form of lower interest expense for the Group.

Regulatory Challenges and Low-Yield Environment Limit Gains of Funding Boost

On the back of increased funding (i.e., deposits), the Group grew its loan book and investment securities by 20% YoY and 10% YoY, respectively. The 20% YoY growth in loan book is attributed to a 51% YoY increase in term loans (from N998.68bn to N1.51trn). The Group also booked higher short-term loans (overdrafts) from N209.95bn in FY 2019 to N323.79bn in FY 2020.

Loans and advances to banks also grew by 35% YoY from N754.91bn in FY 2019 to N1.02trn in FY 2020, as the Group increased placements with banks, in hunt for higher yields in a lowinterest-rate environment.

Investment securities grew by 10% YoY from N1.41trn in FY 2019 to N1.55trn in FY 2020, due to a 25% YoY increase in held-to-maturity securities. During the financial year, the Group’s mandatory reserves deposits with the CBN (i.e., CRR) rose by 57% YoY from N843.44bn in FY 2019 to N1.32trn in FY 2020, which effectively implies that a total value of N479.01bn was sterilised by the CBN as of FY 2020 due to the Group’s inability to meet the regulatory LDR threshold.

As a result, the liquidity position of the Group was impacted, and we believe that the Group could not take full benefits of the increased cheap funding it booked during the year.

By implication, the Group’s NIM was affected. In our view, we posit that the inability of the Group to attain the 65% regulatory LDR threshold was due to challenging macroeconomic fundamentals, especially given the impact of the coronavirus on businesses.

High Sensitivity to Interest Rate Push Interest Earnings Southwards

Interest income declined by 11% YoY from N431.93bn in FY 2019 to N384.79bn in FY 2020. Specifically, interest income on investment securities dipped by 27% YoY from N163.14bn in FY 2019 to N118.85bn in FY 2020. We attribute the decline to lower yields in the fixed income market resulting from the accommodative stance of the CBN. Interest income on loans and advances also declined, by 2% YoY from N245.59bn in FY 2019 to N241.03bn in FY 2020.

Overall, the source of interest income decline was from the lower interest earnings on investment securities. In a similar trend, interest expense declined by 13% YoY from N152.34bn in FY 2019 to N133.18bn in FY 2020. As stated above, the liquidity glut in the financial system benefitted the Group in the form of cheap funding.

Despite a 22% YoY increase in customer deposits during the financial year, interest expense on customer deposit declined by 19% YoY from N111.22bn in FY 2019 to N90.61bn in FY 2020. Hence, the Group’s cost of funds lowered from 3.10% in FY 2019 to 2.30% in FY 2020.

However, on the back of steeper decline in asset yield, the Group’s net interest margin declined from 7.40% in FY 2019 to 6.10% in FY 2020. In absolute terms, net interest income declined by 10% YoY from N279.59bn in FY 2019 to N251.62bn in FY 2020.

Treasury Activities Lift Earnings

The fixed income market was volatile in FY 2020, and there was a bullish run amid lower yields in the financial markets. The Group took advantage of the bullish run and reported a 175% YoY increase in net gains on investment securities from N17.49bn in FY 2019 to N48.08bn in FY 2020.

Also, net gains from financial instruments rose by 16% YoY from N20.56bn in FY 2019 to N23.77bn in FY 2020. Meanwhile, foreign exchange income dipped from a gain of N9.54bn in FY 2019 to a loss of N1.46bn in FY 2020.

Overall, trading gains accounted for 72% of total non-interest income in FY 2020.

 Increasing Digital Solutions Drive Value

The Group’s digital customers grew by 26% from 13mn as of FY 2019 to 16mn as of FY 2020. Also, the Group recorded a 23% increase in First mobile users to 4.2mn in FY 2020, with over N3.70trn transaction value conducted on the Group’s USSD platform in 2020.

Some of the efforts implemented by the Group to enhance its digital offering to meet customers’ needs included enhancement of the Firstmonie wallet with additional services, introduction of ‘large sum bulk withdrawal’ feature on ATMs, and deployment of digital banking apps in its African subsidiaries.

Fee and commission income grew by 10% YoY from N103.38bn in FY 2019 to N113.22bn in FY 2020. Specifically, credit-related fees rose by 96% YoY from N4.89bn to N9.60bn, reflecting increased loan book growth in FY 2020. Letters of credit commissions and fees grew by 86% YoY from N6.38bn in FY 2019 to N11.89bn in FY 2020. Electronic banking fees, despite a c.50% decline in fees, grew by 1% YoY from N48.03bn in FY 2019 to N48.68bn in FY 2020.

The solid growth in fee and commission income and trading gains drove the Group’s 23% YoY non-interest income growth from N158.37bn in FY 2019 to N194.15bn in FY 2020, thus accounting for 48% of operating income in FY 2020 (FY 2019 contribution: 36%).

Weakened by the decline in net interest income, operating income grew by just 3% YoY from N366.38bn in FY 2019 to N375.72bn in FY 2020. Profit before tax grew by 11% YoY from N75.29bn in FY 2019 to N83.70bn in FY 2020, supported by an improvement in the Group’s cost-to-income ratio from 79% in FY 2019 to 78% in FY 2020. Profit after tax rose by 14% YoY from N66.04bn in FY 2019 to N75.59bn in FY 2020.

The Homecoming Of The Elephant

The Group recorded improvements across its major performance metrics in FY 2020. We note that the Group faced a tumultuous period in the past few years, resulting from the 2016 economic recession. For instance, the Group’s asset quality materially improved, as the nonperforming loan (NPL) ratio lowered from 24.40% as of FY 2016 to 7.70% as of FY 2020.

The Group also made a considerable progress in its efforts to maintain an adequate capital position. During the financial year, the Group injected the proceeds of the sale of its insurance subsidiary to capitalise its banking subsidiary. As a result, the banking subsidiary’s capital adequacy ratio improved from 15.50% as of FY 2019 to 17.00% as of FY 2020 (regulatory threshold: 15%). The Group intends to increasingly drive capital accretion to support its business in the current operating environment.

Business Outlook

While the macroeconomic challenges are noted, notably the volatilities in the foreign exchange market and weak household consumption, we expect to see a rebound in the Group’s interest income due to the rising yields in the fixed income market.

The higher interest-rate environment also effectively implies a higher interest expense; however, we believe that the low-cost funding profile of the Group positions it to expand net interest margin in the near term.

We also expect the Group to deepen its digital footprints in the near to medium term, and we expect to see continued value accretion from the digital banking space. Using a blend of Discounted Dividend Model (DDM) and Residual Income Model (RIM), we estimate a N7.51 fair value for the Group.

Our fair value estimate effectively implies a 3.09x justified price-to-earnings (P/E) multiple. At the stock’s N7.65 current market price, the stock trades at a 3.15x forward P/E, thus translating to a -2% price return. We forecast a N0.51 dividend for FY 2020, which implies a 6% dividend yield. Therefore, we estimate a 4% total return for the stock. We recommend a HOLD.

UBA Q1 2021 Results Review: Reiterating Outperform Rating Following Strong Q1 Results

Brand Spur
-
0
UBA Q1 2021 Results Review: Reiterating Outperform Rating Following Strong Q1 Results

…3% Cut To Our Price Target Due To 150bp Increase To The Risk-Free-Rate

UBA’s Q1 ’21 earnings came in ahead of our forecast mainly because of a positive surprise in impairment for credit losses. Although pre-provision profits were broadly in line with our forecasts, the positive surprise in funding income was offset by negative surprises in non-interest income.

Following the positive earnings surprise, we have increased our ’21-22f EPS forecasts by c.4% on average. Nonetheless, our new price target of NGN14.2 is c.-3% lower because we have increased the risk-free rate driving our DDM valuation by 150bps to 12.5%. The upward revisions to our earnings forecasts are underpinned by i) a 5% average increase to our funding income forecasts and ii) a -9% average cut to our forecasts for credit loss impairments.

The upgrades on both lines offset an -8% average cut to our non-interest income forecasts over the same period. We are encouraged to see that UBA’s cost of risk improved by 20bps y/y to 0.3%. However, given the slow pace of economic recovery, we would like to see the audited numbers for H1 ’21 before drawing a firm conclusion.

Consequently, we have cut our cost of risk assumption by a mere 10bps to 1.0%, in line with guidance, but above the 0.3% annualized rate implied by the Q1 ’21 results.

With respect to funding income, we are pleased to see that the improvement in deposit mix over 2020 carried on into 2021. The bank’s CASA ratio (low-cost deposit to total) improved to 82.6% from c.72.4% in Q1 ’20 (81.8% Q4 ’20). The bank’s asset quality (NPL) ratio also remained stable at c.4.76% vs 4.7% Q4 ’20.

We expect UBA to deliver PBT of NGN137.8bn or an implied PBT growth of c.4% y/y in f2021. Our forecasts also imply a ’21f ROAE of 14.1%, less than the 18% ROAE that management has guided to. Our lower ROAE forecast is mainly due to an 11% increase to our book value forecast. On a relative basis, UBA shares are trading on a ’21 P/B multiple of 0.3x for 14.1% ROAE in ’22f.

These compare with the 0.5x multiple for 14.9x ROAE that the sector is trading on. Year-to-date, the shares have shed -17.9% vs the -3.1% return on the NSE ASI. At current levels, we see an upside potential c.100% in the shares. We keep our Outperform rating on the shares.

PAT up 27% y/y, thanks to strong revenue growth and reduction in credit impairments.

UBA’s Q1 PAT (from continuing operations) grew 27% y/y to NGN38.2bn. Underpinning the double-digit earnings growth were increases of 13-14% y/y on both revenue lines and a -23% y/y reduction in credit loss impairments. These positives underpinned PBT growth of 24% y/y.

Further down the P&L, PAT growth after other comprehensive income and minorities accelerated by 275% y/y because OCI improved to NGN70m vs -NGN15bn Q1 ’20.

Heineken Aims To Be Carbon Neutral In Production By 2030 And Full Value Chain By 2040

Brand Spur
-
0
Heineken Aims To Be Carbon Neutral In Production By 2030 And Full Value Chain By 2040

Heineken has announced a new ambition to decarbonize its own production by 2030 and its full value chain by 2040.

This is the first in a series of refreshed Brew a Better World ambitions, which form an important part of the company’s new EverGreen balanced growth strategy.

“In this Decade of Action, we are committing to accelerating our actions to address climate change. We aim to be carbon neutral in our production sites by 2030 in order to meet the 1.5°C goal set by the Paris Agreement. We will further reduce our emissions through energy efficiency and speed up the transition towards renewable energy.

“A large part of our overall carbon footprint beyond production comes from agriculture, packaging, distribution, and cooling. This means we will work in close partnership with our suppliers and partners to reach our ambitious goal of a carbon-neutral value chain by 2040. 

“We know that Heineken can only thrive if our planet and our communities thrive. I want to thank our deeply committed employees for their passion for this topic. Together, we will do our part to brew a better world.” said Dolf Van Den Brink, Chairman of the Board/CEO

From barley to bar, Heineken continues to focus on concrete actions to reduce its carbon footprint, working closely with customers, consumers, and suppliers.

Key Milestones On The Path To Zero Impact;

Heineken aims for all of its production sites to become carbon neutral by maximising energy efficiency and renewable energy use by 2030.

In close partnership with suppliers, also by 2030, HEINEKEN aims to cut emissions by 30% across its entire value chain[2] from a 2018 baseline.

Looking ahead to 2040, the company will be the first global brewer to aim for carbon neutrality in its full value chain.The company is taking a science-based approach by working closely with the SBTi[3] to validate its new commitment.

The Work Has Already Started

Building on momentum from the last decade of Brew a Better World efforts, since 2008, HEINEKEN has reduced carbon emissions per hectoliter in its breweries by 51%. Since committing to the transition to renewable energy in 2018, the company has implemented over 130 renewable energy projects, including 5 of the world’s 10 largest on-site solar-powered breweries.

Heineken has partnered to build a wind farm in Finland that will inject renewable electricity in the European grid supplying 13 of its operating companies. In Indonesia, the company utilises sustainable biomass made out of agricultural waste to heat its two breweries.

In Nigeria, HEINEKEN has recently inaugurated solar panels in its Ibadan brewery, and in Vietnam, the company sources rice husks from local farmers to heat its brewing boilers.In addition, Heineken is supporting a pilot of 500 low-carbon farming projects in eight countries, as well as shifting to zero-emission breweries in Spain and Austria.

In Mexico, the company is using smart fridges that leverage software to automatically adjust cooling settings to minimize energy use. Heineken Netherlands is pioneering cleaner inland shipping methods for its beer and cider.

In the UK, Heineken has launched an innovative cardboard multi-pack called Green Grip, reducing carbon and saving 500 tonnes of plastic every year. To mark its commitments, Heineken is joining alliances to drive collective forward momentum. The brewer is proudly becoming a member of the Business Ambition for 1.5C, the Race to Zero as well as RE100.

[1] The UN’s Decade of Action calls for accelerating sustainable solutions to all the world’s biggest challenges — ranging from poverty and gender to climate change, inequality and closing the finance gap

[2] Including barley farmers, glass and cans makers, own production, logistic providers and fridges to customers

[3] https://sciencebasedtargets.org/ 

iPad Hit 540 Million Units In Lifetime Sales, Revenue Jumped By 10% YoY

Brand Spur
-
0
iPad Hit 540 Million Units In Lifetime Sales, Revenue Jumped By 10% YoY

Apple’s iPad sales spiked in 2020, as lockdown measures forced people worldwide to switch to working and educating at home.

The surge in demand for iPad tablets, especially in the last quarter of the year, pushed its lifetime sales above the half-a-billion benchmark.

According to data presented by Stock Apps, Apple shipped more than 53 million iPads amid the pandemic, with its lifetime sales hitting 540 million in 2020.

The Strongest Sales Year Since 2014

Introduced in 2010, the iPad was a pioneer in the tablet market, aiming to fill a gap between smartphones and laptops. In 2013, Apple generated $31.8bn in revenue from iPad sales, with more than 74 million units shipped worldwide that year, the highest annual figure so far.

In 2014, shipments slipped to 63.4 million, while sales revenue amounted to $30.1bn, revealed the company’s earnings report. However, the following years witnessed a downsizing trend, with the number of shipments falling by almost 50% to 33.3 million in 2018.

Until the third quarter of 2018, Apple sold nearly 425 million iPads worldwide and released eight versions of the device.

After dropping for four years in a row, iPad shipments jumped to almost 50 million in 2019. Statistics show annual sales revenues recovered to $21.1bn that year.

However, as millions of people started working and educating at home amid the COVID-19 lockdown, iPad shipments jumped to 53.2 million in 2020, the strongest sales year since 2014. The tech giant generated $23.5bn from selling its tablet last year, 10% more than in 2019.

Statistics show that during the Q4 2020 only, or the company’s Q1 FY 2021, Apple’s ‌iPad‌ category earned $8.4bn, up from $6bn in the year-ago quarter. Between October and December last year, Apple shipped 19 million iPads to consumers worldwide, a 5.1 million increase from the previous quarter.

One-Third Of All Shipped Tablets In 2020 Were iPads

The IDC’s Worldwide Quarterly Tablet Trackers showed that in 2020, more than 163 million tablets were shipped worldwide, and iPads made one-third of that figure. Last year, Apple had a 32.5% share in the global tablet market, compared to 34.6% in 2019.

Samsung retained the number two position and recorded impressive 44% shipment growth last year. In 2019, the South Korean tech giant shipped 21.7 million tablets worldwide. This figure surged to 31.3 million amid the COVID-19 pandemic. Huawei hit 9.8% market share and 16 million shipments last year, up from 14.8 million in 2019.

As the fourth largest notebook vendor globally, Lenovo shipped 14.1 million tablets in 2020, a 66% increase in a year. Furthermore, statistics show that Lenovo’s market share rose to 8.6% last year, up from 5.9% in 2019.

Pokémon GO Hit 120 Million Downloads, Player Spending Surged By 40% YoY To $923M

Brand Spur
-
0
Pokémon GO Hit 120 Million Downloads, Player Spending Surged By 40% YoY To $923M

As one of the most popular mobile games globally, Pokémon GO witnessed the influx of new players in 2020 who spent an impressive amount of money on in-app purchases.

According to data presented by Safe Betting Sites, Niantic’s location-based megahit was downloaded 120 million times last year, while player spending surged by 40% YoY to $923 million.

The Most Profitable Year Since Launching In 2016

Released in July 2016, Pokémon GO was instantly a smash hit. Within a week of its release, the mobile app had been downloaded over ten million times worldwide, showing the enormous hype surrounding the launch of Nintendo’s first venture into mobile gaming.

The app hit a staggering 500 million downloads during its first quarter before winding down to a double-digit download volume over time. The AppMagic data showed the mobile game was downloaded more than 153 million times in 2017. In the next two years, the annual number of downloads slipped to 115 million.

However, as millions of people turned to mobile games amid the lockdown, the number of downloads jumped to 120 million in 2020, a 5 million increase in a year, with the lifetime downloads hitting over 1 billion.

Last year, Pokémon Go was also among the leading free-to-play gaming titles worldwide, with over $923 million in player spending, almost 40% more than in 2019. Statistics also show 2020 was the app’s most profitable year since launching in 2016.

Asia-Pacific Generated 40% Of In-App Purchase Revenue

Pokémon GO players are a highly engaged audience and live events, when possible, are very popular with the player community. Although the initial Pokémon craze has slowly faded, the game still enjoys millions of active users worldwide and the Asia-Pacific region, in particular.

Statistics show that in 2020, the mobile game generated more than $391 million through in-app purchases across the Asia Pacific markets, a 43% jump in a year. The Americas ranked second with $380 million in player spending, 41% more than in 2019.

Players from the EMEA region spent $151 million on in-app purchases or 33% more than before the pandemic.

During the first three months of 2021, Pokémon GO generated over $177 million in in-app purchase revenue, and Asia-Pacific accounted for 40% of that value.

Trendupp Awards Announces Call For Nominations

Brand Spur
-
0
Trendupp Awards Announces Call For Nominations

Trendupp awards, a reward-based platform where creatives receive support, publish exclusive content and build direct relationships with their fans across Africa have officially announced the call for nominations.

categories for the Trendupp Awards themed ‘The Force of Influence’ slated for June 2021 has been divided into three groups – brands, Influencers/Content Creators, and The Force of Influence.

Trendupp Awards is made of 17 categories focused on brands, Influencers/Content Creators, some of the categories include;

Brand: The Force of Collaboration, The Force of Content Creation, etc.

Influencers/Content Creators: The Force of TikTok, The Force of Lifestyle, The Force of Creative Art, The Force of Comedy skits, The Force of Social Good, Etc.

And the most sought-after award of the night will be – The Force of Influence award category which would recognize the influencer or content creator who commands the highest influence in the Nigerian social media space.

Following nominations from the general public which will till 20th May, in order to maintain transparency and accuracy in the selection and screening processes, nominees will be screened and chosen by the Trendupp Awards judging council (a combination of respectable industry leaders).

To nominate your favourite influencers/content creators for any of these categories, visit https://www.trenduppawards.com/#Categories

What You Must Know About Trendupp Awards

Trendupp Awards seeks to recognize and celebrate the efforts of creatives, content creators,  influencers, brands, and organizations who have contributed immensely to the social media space in Nigeria.

Trendupp Awards is an initiative of Trendupp, a platform where creatives receive support, publish exclusive content and build direct relationships with their fans across Africa.

This award is themed ‘The Force of Influence’, and will be rewarding majorly content creators, influencers and brands who have impacted the social media community through creative content, disruptive movements & campaigns, etc via Instagram, Tiktok, YouTube, Twitter and Facebook.

Trendupp Africa is a subsidiary of DottsMediaHouse – Foremost digital marketing firm in Africa – known as the leading force in influencer marketing in Nigeria for the past 5years.

Microsoft Brings Xbox Gaming To Apple Phones And Tablets

Brand Spur
-
0
Microsoft Brings Xbox Gaming To Apple Phones And Tablets

Microsoft’s Project xCloud is set to bring Xbox gaming to Windows 10 PC and Apple Phones and Tablets as Limited Beta for Xbox Game Pass Ultimate Members.

According to a press statement made available to Brand Spur Nigeria, the mission is to empower Xbox users to play the games they want with others, anywhere you want.

“Our mission at Xbox is to empower you to play the games you want with the people you want, anywhere you want. Simply put, we believe games have the power to connect humanity and it’s our mission to make gaming more accessible to people around the world”.

“As we shared at the end of last year, we’re bringing Xbox to more players on more devices via the cloud this year. Starting tomorrow, we’ll begin sending out invites to select Xbox Game Pass Ultimate members to start testing the Xbox Cloud Gaming limited beta for Windows 10 PCs and Apple phones and tablets via web browsers.

“We’re launching xbox.com/play where invitees can play over 100 Xbox Game Pass titles through Edge, Google Chrome, or Safari. Offering cloud gaming through the browser and having a simplified, universal landing page presents a great opportunity to make cloud gaming approachable to more players in more places over time.

“The limited beta is our time to test and learn; we’ll send out more invites on a continuous basis to players in all 22 supported countries, evaluate feedback, continue to improve the experience, and add support for more devices.

“Our plan is to iterate quickly and open up to all Xbox Game Pass Ultimate members in the coming months so more people have the opportunity to play Xbox in all-new ways.

Microsoft Brings Xbox TGaming To Apple Phones And Tablets-Brand Spur Nigeria
Xbox Gaming On Phones and Tablets Photo Source Microsoft

“Those who receive an invite just need a compatible Bluetooth or USB-connected controller or can use custom touch controls for more than 50 games to start playing and testing. In the early stages of the beta, we’ll be focusing on fine-tuning features and creating a consistent experience across platforms, while making sure games are running their best. For more information on how to play, an updated list of supported devices, and release notes, please visit our support hub.

This is an exciting step on our journey to bring gaming to the 3 billion players around the world. Thanks so much for helping us shape cloud gaming, from the early days in Preview to today, quite simply we couldn’t have done it without you.

 

1...2,0082,0092,010...3,974Page 2,009 of 3,974