NIPC, FCTA Partner to Promote Investment Opportunities in FCT

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NIPC, FCTA Partner to Promote Investment Opportunities in FCT

The Executive Secretary/CEO of Nigerian Investment Promotion Commission (NIPC), Ms Yewande Sadiku met with Minister, Federal Capital Territory (FCT), Alhaji Mohammed Musa Bello on Thursday 4 March 2020 to discuss NIPC’s support for subnational investment promotion in the light of the publication of the “Book of States”, and get the sign-off of the one-pager for the FCT by the Minister in.

NIPC, FCTA Partner to Promote Investment Opportunities in FCT brandspurng

The Book of States is a publication of NIPC in collaboration with the Nigerian Governors’ Forum. It highlights key statistics, the competitive advantages and the key investment opportunities being promoted by each State, and the FCT

Commenting on the Book of States initiative, the Honourable Minister applauded the initiative and encouraged his team to work with NIPC on improving the document. He also highlighted points of collaboration with the NIPC in the areas of the Ease of Doing Business ranking given efforts made by the present administration to improve the business environment.

According to Ms Sadiku, the Book of States will assist investors in better appreciate the investment potentials across Nigeria.

#IWD2021: Africa’s Billionaires Are Not Women

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#IWD2021: Africa’s Billionaires Are Not Women

By Tosin Alabi, Assistant Vice President, DLM Capital Group 

It’s the year 2021 and women’s access to education, wealth and positions of authority have not seen significant progress in Africa. In Nigeria, the continent’s biggest economy, the existence of economic and gender inequality is now so intertwined that the life of the average Nigerian woman is profoundly affected by a wide range of discriminatory socio-cultural practices.

Tosin Alabi brandspurng #IWD2021 Africa’s Billionaires Are Not Women
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The Global Wealth Report of 2018 observed that “women’s share in wealth rose considerably over the 20th century and held about 40% of global wealth”, but how much of that represents women’s share of wealth in Africa? What is the value of the economic future of the average African woman? 

In 2017, only two women made it on the Forbes magazine Africa’s Billionaires list. This year, the list is even more male-dominated; no woman made the list despite the evident progress in other regions around the world where increased access to education, and career and family life balance have unlocked greater financial independence and economic wealth for women. 

This year’s International Women’s Day theme – #ChooseToChallenge is a uniquely powerful message that endears me to challenge the unfair status quo of women’s share of wealth in Africa.

The path to sustainable income and financial independence is still largely uncharted for African women who are still denied education, employment, upward mobility in the workplace, trade opportunities, the right to own or inherit property, and are largely underrepresented in governance. 

Thankfully, we now have a younger generation of women, that, despite these adverse circumstances that may delay their pace of wealth generation, are eager to be the HNIs of tomorrow.

In the RBC Wealth Management report titled ‘The new face of wealth and legacy: How women are redefining wealth, giving and legacy planning, it was reported that not only are women generating and managing an increasing amount of wealth, they are also directing the economy itself—heading up major corporations and pivotal economic players like the International Monetary Fund. 

While this trend seems progressive, research from the Stears Business team has shown that women are still lagging behind men in financial independence and wealth accumulation globally. An alarmingly high number of African women often feel less financially secure and optimistic about their economic futures.

In an infographic with data attributed to Stears Business, it was reported that women have lower financial access than men in Nigeria with about 23% debit card ownership for women and 40% for men. The report also exhibited that 4% of women have mobile money accounts in comparison to 7% of men.

These are staggering figures that must be addressed. If women still do not have access to basic opportunities as those stated above, which translate to financial exclusion, how then can we build and sustain women’s share of wealth? 

In light of the above, and as the Assistant Vice President at one of Nigeria’s topmost investment firms, DLM Capital Group, I am compelled to ask that wealth managers pay a lot more attention to women, their investment needs, attitudes and portfolios. Financial services need to adapt to better cater to female priorities as men and women have different investment styles and attitudes. 

The BCG 2019 Global Wealth Report disclosed that

“women remain largely underserved by the wealth management community as too many financial institutions rely on broad assumptions about what women are looking for, resulting in products, services, and messaging that can feel superficial at best and condescending at worst.”

I believe that wealth managers have a responsibility to recognize that women’s financial and investment avenues’ is a huge business opportunity – and tailor offerings that meet the specific needs and priorities of individual women regardless of class, income, exposure, or marital status. 

Today, African millennial women are taking charge of their wealth and earning a greater share of wealth than the young women of past generations. This sort of mindset must be continuously empowered.

We cannot continue to refer to women as afterthoughts in the wealth management industry and men as the primary financial decision-makers; there is, therefore, an urgent need to design products and services that do not ridicule women, look superficial or reflect outdated assumptions about the gender’s role in driving wealth.

Wealth managers operating in Africa must understand, that for women, wealth is a means to many ends, not an end in itself. Women are susceptible to certain inflexion points in their lives and the financial impacts that come from them – and so tend to fund specific goals that address these crossroads.

At DLM Capital Group, we pay great attention to women’s specific needs and preferences and tailor our services accordingly – this has earned us a large share of this important and growing market. 

As we celebrate this year’s International Women’s Day, I challenge all wealth managers to address the industry’s deep-seated biases, combined with an inadequate understanding of women’s actual behaviours and preferences. A culture of conscious inclusion and a focus on the individual is needed more than ever to get us, the African billionaires of the next decade.

Written By Tosin Alabi, Assistant Vice President, DLM Capital Group

AfDB Provides $400,000 Grant for SEC to Support Capital Markets Development

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AfDB Provides $400,000 Grant for SEC to Support Capital Markets Development

The funds will go towards strengthening the risk-based supervision framework, regulation of derivatives and green bonds, and build capacity for green finance

March 5, 2021 – The African Development Bank Group today signed a $400,000 grant agreement with the Securities and Exchange Commission of Nigeria to strengthen securities market regulation and broaden market instruments.

AfDB Provides $400,000 Grant for SEC to Support Capital Markets Development Brandspurng

The funds will go towards strengthening the risk-based supervision framework, regulation of derivatives and green bonds, and build capacity for green finance. The grant will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the Bank.

“This collaboration further underscores our mutual goal to grow our markets and create viable avenues for sustainable economic development for Nigeria and the region,” said Lamido Yuguda, Director General of the Securities and Exchange Commission at the virtual signing ceremony.

The grant is aligned with the priorities of the Bank’s Country Strategy for Nigeria, which envisages measures to stimulate capital market development to unlock financial resources for productive sector investments, infrastructure development and private sector growth.

Lamin Barrow, Senior Director of the Bank’s Nigeria Country Department, noted the urgency of the implementation of the project.

“At a time when countries are striving to build back better from the ravages of the COVID-19 pandemic, improvement of the enabling regulatory and supervision framework will boost domestic resource mobilisation efforts and leverage private sector contributions to achieve a greener, more environmentally sustainable and inclusive post-pandemic recovery,” Barrow said.

Oscar Onyema, Chief Executive Officer of the Nigerian Stock Exchange, thanked the African Development Bank Group and the Securities and Exchange Commission “for this historic event and partnership, to build in-house capacity at SEC, the Nigerian Stock Exchange, issuers and investors in the sustainable finance space, which will help to meet climate finance commitments in Nigeria.”

The project will support the implementation of the SEC’s Nigeria Capital Market Master Plan 2015-2025 and its vision to position Nigeria’s capital market as a competitive and attractive destination for portfolio investments.

Mercedes-Benz Bank successful in challenging market environment in 2020

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Mercedes-Benz Bank successful in challenging market environment in 2020

Stuttgart. Mercedes-Benz Bank AG has successfully concluded 2020 – a challenging year mainly because of the COVID-19 pandemic. The total volume of leasing and financing contracts for Daimler Group passenger cars and commercial vehicles of 25.9 billion euros at the end of 2020 was at the level of the previous year.

Mercedes-Benz Bank 2020 erfolgreich in schwierigem MarktumfeldMercedes-Benz Bank successful in challenging market environment in 2020
Mercedes-Benz Bank 2020 erfolgreich in schwierigem Marktumfeld
Mercedes-Benz Bank successful in challenging market environment in 2020

Thanks to the long contract terms in the existing portfolio, the Stuttgart-based company was able to compensate for a vehicle market that declined during the pandemic-affected year as a whole and for the consequently weakened new leasing and financing business.

In addition, the automotive bank set a record in the used vehicle business in 2020 with a volume of 2.1 billion euros and reached a new high for vans with a contract volume of 5.7 billion euros.

“With our financial services, we provided the best possible support in 2020 for sales of Daimler Group vehicles in Germany in a challenging market environment. For this year, we see opportunities resulting from the recently presented new Mercedes-Benz C-Class, our volume model in the passenger car market, as well as resulting from the constantly growing customer demand for hybrid and electric vehicles.

Benedikt Schell, Vorsitzender des Vorstands der Mercedes-Benz Bank AGBenedikt Schell, CEO, Mercedes-Benz Bank AG
Benedikt Schell, Vorsitzender des Vorstands der Mercedes-Benz Bank AG
Benedikt Schell, CEO, Mercedes-Benz Bank AG

The percentage of leasing contracts in this segment is disproportionally high,” says Benedikt Schell, CEO of Mercedes-Benz Bank.

In the commercial vehicle business, Mercedes-Benz Bank launched leasing and financing offers for the all-electric Fuso eCanter light-duty truck last year. All in all, the contract volume for trucks and buses of the Mercedes-Benz, Fuso and Setra brands was 3.9 billion euros at the end of 2020.

Success with used vehicles and in online banking

Used vehicles have been recording double-digit growth rates for many years. New business has nearly doubled for Mercedes-Benz Bank since 2013 as a result. In the banking business, customers’ deposited funds grew to about 13 billion euros by the end of 2020 and thus reached a new record high.

Mercedes-Benz Bank uses the deposit volume as a refinancing basis for its leasing and financing offers. In 2020, Mercedes-Benz Bank made an important contribution to the already published Daimler Mobility AG profit of 1.4 billion euros.

2021 outlook

Depending on the further development of the COVID-19 pandemic, Mercedes-Benz Bank sees growing opportunities this year as a result of the market launch of the new C-Class and of additional hybrid and electric vehicles such as the EQA, EQS and EQE. Hybrid vehicles are very successful as company cars.

Furthermore, electric vehicles are also being primarily leased by private customers. The bank believes in additional growth through the launch of further subscription models for electric vehicles such as for the EQC or the EQV van last year.

In order to make the switch to electric mobility as easy as possible and to provide predictable monthly instalments for customers, Mercedes-Benz Bank also offers comprehensive insurance coverage specifically for hybrid and electric vehicles, for example, on batteries, the charging infrastructure and services.

In cooperation with Mercedes-Benz and Daimler Mobility, there are further services and hardware related to electric mobility which include, among other things, mobility packages via Mercedes-Benz Rent for longer trips, the financing of Wallbox chargers as well as billing systems for commercial customers.

Appzone Expands Executive Leadership Team

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Appzone Expands Executive Leadership Team

Efosa Aiyevbomwan and Omonuwa Olulano join as CMO and CHRO

5th March 2021. The Board of Directors of Appzone Group, sub-Saharan Africa’s leading FinTech company, is pleased to announce the appointment of Efosa Aiyevbomwan and Omonuwa Olulano as Group Chief Marketing Officer and Group Chief Human Resources Officer, respectively.

The announcement comes as Appzone ramps up activities across Africa. With over 160 professionals and clients in seven countries, the company processes $2 billion in transactions annually, serving 18 commercial banks and over 450 microfinance institutions across the continent.

Efosa Aiyevbomwan brandspurng Appzone Expands Executive Leadership Team
Efosa Aiyevbomwan | www.wordpress-1516176-5827464.cloudwaysapps.com

With a career spanning 13 years, Omonuwa Olulano brings to bear a wealth of knowledge and an array of experiences across diverse sectors including Financial Services, E-Commerce, Non-profit and Technology. Some of her previously held roles include Vice President for People and Culture at SoftCom and HR Business Partner at Konga. 

A member of the Chartered Institute of Personnel Management and graduate of Electrical and Electronic Engineering from the University of Benin, Omonuwa’s experience includes the provision of strategic HR leadership and organizational change with expertise in the areas of organizational design and development, Talent Acquisition, Talent Management, Performance Management, People Operations and Analytics. 

Efosa Aiyevbomwan joins Appzone as Group Chief Marketing Officer, bringing over extensive experience in the technology, entertainment, broadcast media and consulting sectors. Efosa was previously the Head of Communications (West Africa) at Uber and has also held managerial roles at Universal Music Group and MultiChoice Nigeria.

He holds a master’s degree in Media and Communications from the School of Media and Communication, Pan-Atlantic University, and a bachelor’s degree in English from the University of Lagos. Efosa is tasked with leading Appzone’s brand, product marketing and communication campaigns as well as leading critical stakeholder relations and go-to-market expansion plans. 

Speaking on the appointments, Mr. Obi Emetarom, CEO of Appzone, said:

“We are excited to welcome Efosa and Omonuwa to the Executive Leadership Team at App zone. They both bring a wealth of experience and are joining Appzone at an exciting time. Both appointments are critical as they reflect two important elements of our corporate strategy: exceptional talent and effective brand positioning.

Omonuwa’s role will ensure we improve our industry-renowned penchant for attracting the top one percent of premium talent, while Efosa will lead Appzone’s positioning strategy as a truly Pan-African brand with global appeal.”

Appzone logo brandspurng Appzone Expands Executive Leadership Team

Founded in 2008, Appzone is Africa’s leading FinTech disruptor and provider of home-grown software solutions for the continent’s Financial Services industry. With a team of over 160 professional and clients in seven countries, we process over $2 billion in transactions annually serving 18 commercial banks and over 450 microfinance institutions across the continent.

P&G, Colori, sign local production Contract, CBN to Promote Local Manufacturing

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P&G, Colori, sign local production Contract, CBN to Promote Local Manufacturing

…To commence local production of Oral B® Products

Lagos, Nigeria. March 2021: To further strengthen its commitment towards localization of production in Nigeria, leading Consumer Goods Company in Nigeria, Procter & Gamble (P&G) has partnered with Colori for the local production of its Oral Care products, OralB®.

This partnership represents a new investment of $35Million dollars, consolidated with a contract signing hosted by the Governor of the Central Bank of Nigeria(CBN), on Friday, March 5, 2021.

P&G, Colori, sign local production Contract, CBN to Promote Local Manufacturing

The signing which took place at the office of the CBN Governor given his continued engagement with P&G on its localisation journey will further promote localization & technology advancement in Nigeria through strategic Private-Public collaboration. It also reiterates P&G’s commitment to providing quality products that improve everyday life whilst having a positive impact on the economy.

In his remark, the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele (CON) said,

‘It is gratifying to have been part of this localisation journey with P&G. They have also indicated to me that this is the first of many such projects and we are ready to support them achieve these localisation objectives’. CBN encourages other multinationals to follow suit and collaborate with partners to strengthen industrialisation in Nigeria.

P&G, Colori, sign local production Contract, CBN to Promote Local Manufacturing

Speaking on the partnership, P&G Managing Director for Nigeria, Mr. Adil Farhat revealed that as a company focused on being a ‘force for good and a force for growth’, P&G will continue to partner with the Nigerian government as we increase our economic and social footprint, in support of the diversification and localisation objectives of Nigeria. 

In his words

“P&G is excited to partner with Colori on this project and is committed to investing in Nigeria and Nigerian talents now and for the long haul. On behalf of the entire staff of P&G, I would like to say a big thank you to the Governor for hosting us today as we seal this agreement.”

Also speaking at the event, the Managing Director of Colori Cosmetics Nigeria, David Feng shared that Colori Cosmetics (Longrich) is delighted with the opportunity to sign the contract with the Nigeria-Lekki FTA in 2017 to build its first Artificial intelligence plant in Nigeria under the China One Belt and Road Initiative.

“The cooperation with Procter and Gamble (P&G) particularly is a huge honour. We see it as a priceless opportunity to grow with Nigeria as we aim to be one of the top-class intelligent plants in Nigeria and in the whole of the African market at large. We aim to work with hundreds of local businesses to provide a healthier lifestyle to the people”.

One of the partnership’s objectives is to create jobs, diversify the economy, create an export hub of manufactured goods in Nigeria as well as to strengthen the communities in which P&G operates.

P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®.

Euro 2020 Countdown Begins on StarTimes

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Euro 2020 Countdown Begins on StarTimes

This Wednesday marks 100 days until the scheduled start of UEFA Euro 2020. While the exact location of the top European football tournament remains uncertain, COVID-19 won’t prevent the event to take place again this year. Leading digital TV operator StarTimes is set to broadcast the event in Sub-Saharan Africa.

Euro 2020 Countdown Begins on StarTimes BRANDSPURNG

The opening match of Euro 2020 between Turkey and Italy is due to be played in Rome on June 11, while seven matches are set to go ahead at Wembley in London, including both semifinals and the final.

European football’s governing body UEFA has so far stuck to its original plan to host the event in 12 different cities. However, it has given all host cities until early April to say if they will be in a position to accommodate spectators inside stadiums and at what percentage of capacity.

“Fans are such a big part of what makes football special,” said UEFA president Aleksander Ceferin in his most recent public address on the matter in January.

“We must allow ourselves the maximum space to allow their return to the stadiums.”

What is certain at this time is that Euro 2020 will take place between June 11 and July 11. There will be 24 national teams competing against each other in a total of 51 matches.

Portugal are the defending champions, having won the 2016 competition, and favorites are England, Belgium and World Champions France.

UEFA Euro 2020 official broadcaster StarTimes will air all the 51 matches live and in HD across its sports channels.

International Women’s Day: Trailing Coca-Cola’s Strides in Women Empowerment

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International Women’s Day: Trailing Coca-Cola’s Strides in Women Empowerment

The economic empowerment of women remains a burning issue in countries across the world. On International Women’s Day, a day set aside to celebrate the social, cultural, political and economic achievements of women, issues around women empowerment generally come to the fore.

International Women’s Day brandspurng Trailing Coca-Cola’s Strides in Women Empowerment

In many parts of the world, women still face discrimination in areas of remuneration, education and governance. As a result, women are often labelled vulnerable with their lack of power, influence and access to economic resources.

Due to the harsh economic climate and unemployment rate in many parts of the world, it has become more desirable for households to have gainfully employed couples to contribute to the larger economy than to have homes with unemployed, full-time housewives.

International Women’s Day brandspurng Trailing Coca-Cola’s Strides in Women Empowerment

Also, there has been an increase in single parenthood as many cultures are beginning to embrace the decision of women to raise their families single-handedly either by choice or circumstances. Whether they are breadwinners or not, women are entitled to their economic autonomy just as their male counterparts in order to care for their health, fend for their children and other dependents.

With the global awareness of women economic rights, Coca-Cola Nigeria Limited recognizes the potential in women to make significant contributions to the economy. This conviction led to the birth of the “5by20” initiative, a Coca-Cola program designed to help uplift and empower five million female entrepreneurs – from fruit farmers and artisans, to recyclers and retailers – to become part of its value chain by 2020.

International Women’s Day brandspurng Trailing Coca-Cola’s Strides in Women Empowerment

The initiative, which began in 2010 and ended in 2020, saw numerous projects funded by Coca-Cola Nigeria Limited along with its bottling partner, Nigerian Bottling Company for the economic inclusion of over 450,000 women across the country.

The women were equipped to overcome social and economic barriers through the provision of basic business skills, access to financial services and assets, connections with peers and mentors, along the confidence that comes with building a thriving business.

The 5by20 initiative targeted women in six segments of Coca Cola’s value chain: producers, suppliers, distributors, retailers, recyclers and artisans. As of 2019, over 4.6 million women in over 90 countries had started businesses as part of the 5by20 program.

Consistently, Coca-Cola Nigeria Limited and its bottling partner, Nigerian Bottling Company has leveraged diverse platforms to implement the 5by20 initiative to better fit local needs as well as make a greater impact using various platforms.

These include the IDP Women Value Chain Integration Programme which is a two-day micro-business empowerment scheme for over 50 internally displaced women.In addition, Coca-Cola Nigeria Limited and the United Kingdom Department for International Development of Girls Education launched the Educating Nigerian Girls in Nigeria Enterprise (ENGINE) Value Program aimed at strengthening the educational and economic opportunities of the Nigerian girl-child.

Through the programme, Coca-Cola improved the learning outcomes and economic status of over 21,000 marginalised adolescent girls in Kano, Kaduna, Abuja and Lagos.

Another interesting intervention by Coca-Cola Nigeria Limited is The Lady Mechanic initiative which empowered about 100 girls in Benin through auto-mechanic skills capability development. Today, the initiative has broken the glass ceiling or gender barrier that is largely associated with the automobile profession which had been deemed by some as off-limits for women. The reality is that the empowered women under this initiative are all now employers of labour.

The SHAPE 2020 programme is yet another women empowerment program implemented by Whitefield Foundation, sponsored by The Coca-Cola Foundation and endorsed by the Lagos State Ministry of Wealth Creation. With a $66,000 grant, the women-focused intervention trained and equipped “at-risk” and “underserved” women in local communities with transferable skills such as catering, cosmetics, fashion designing, soap-making, amongst others.

According to the World Health Organization in 2020, the maternal mortality ratio in Nigeria is 814 per 100,000 live births, accounting for 20% of global maternal deaths. One of the contributing factors to this sad reality is the lack of access to quality and affordable health care facilities. In response to this dire situation, Coca-Cola Nigeria Limited launched its Safe Birth Initiative to impact the lives of expectant mothers and their babies.

The Safe Birth Initiative is a social investment from Coca-Cola Nigeria Limited in partnership with Medshare International, the Federal Government through the office of the Senior Special Assistant to the President on Sustainable Development Goals, and the Federal Ministry of Health.

The initiative seeks to support the realisation of the Sustainable Development Goals (SDGs) on maternal and neonatal mortality; with a key focus on improving the capacity of selected public hospitals through the procurement of vital maternal and neonatal medical equipment and training personnel in biomedical engineering to improve equipment maintenance and uptime, while reactivating a large stock of abandoned medical equipment wasting away in public hospitals.

For this project, Coca-Cola will donate a total of thirty-six 40ft containers of medical equipment, kits and supplies worth over N3.8b to tertiary hospitals like the Federal Medical Center Ebute Metta Lagos, Abuja National Hospital, Alimosho General Hospital, University Teaching Hospital Ilorin, Federal Medical Center Owerri, Port Harcourt Teaching Hospital, Aminu Kano Teaching Hospital and many others. The initiative, through its partners, Medshare International has also trained over 150 technical staff in these health centres; with many others scheduled to be trained in 2021/2022.

The Coca-Cola Foundation, through the New World Program (NWP), has also awarded a grant worth $100,000 to the Mental and Environmental Development Initiative for Children (MEDIC) towards implementing a Recycling Scheme for Women and Youth Empowerment (RESWAYE).

In the same vein, the Lagos State Employment Trust Fund, Coca-Cola Nigeria Limited and its bottling partner, the Nigerian Bottling Company, have announced a collaboration aimed at empowering 1,000 women in Lagos State.

The selected women received training in financial literacy and business skills as well as start-up capital to integrate them into the Coca-Cola value chain as retailers of the company’s beverage products.

While reflecting on these initiatives, the Managing Director, Coca-Cola Nigeria Limited, Alfred Olajide, reaffirms the importance of creating an economic model that empowers women and hinges on sustainability.

“Women constitute a significant part of the world’s shared success because we recognize their roles not just as homemakers and influencers but as drivers of economic growth and pillars of their communities and business systems. At Coca-Cola, we have initiated these numerous projects through partnerships with non-governmental organisations, women leaders and the government to improve the lives of women who participate in the 5by20 projects. The entrepreneurial spirit of these women has made a positive impact on the larger economy through our value chain whether as retailers, suppliers, producers, artisans and mentors”.

Women constitute a major pillar as part of Coca-Cola’s sustainability agenda, this is evident in the numerous initiatives highlighted. Through scalable models and powerful partnerships, Coca-Cola continues to facilitate the development of women while creating shared value for their host communities.  With the results proving the efficacy of their programmes, there is no doubt that the company continues to live its purpose of refreshing the world and making a difference in the lives of many.

Ekiti Govt Hands Over Ikogosi Warm Spring Resort To Private Firm

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Ekiti Govt Hands Over Ikogosi Warm Spring Resort To Private Firm

IrinAjo, A tourism and hospitality company, has signed a concession agreement with the investment arm of the Ekiti State Government, Fountain Holdings Limited, over the Ikogosi Warm Spring Resort for fifteen (15) years. 

Ekiti Govt Hands Over Ikogosi Warm Spring Resort To Private Firm Brandspurng

During the signing ceremony, the CEO of IrinAjo, Mr Adedamola Idowu said:

“The company was inspired by the beautiful and uncommon phenomenon’ the resort is, adding that he intends to further push the global acclaim of the resort further than it is.”

Mr Idowu said though there are challenges, he has a masterplan to reposition the facility in two phases – first, to return it to operational capacity and to expand the facility – which will be completed before December 2021.

Ekiti Govt Hands Over Ikogosi Warm Spring Resort To Private Firm Brandspurng

The globally travelled tourism expert also assured tourists of a standard hospitality and tourism destination that will offer a wide range of services that will cater to their individual, organisational, educational and academic needs.

Present at the concession signing ceremony were the GMD/CEO, FHL, Oska Seyi Aiyeleso,  GM Business Development, FHL, Mr Kunle Oladele and the Group Accountant, FHL, Mr Femi Ayeni.

Ikogosi Warm Spring Resort is a unique hospitality facility with a rare natural warm spring with a confluence of warm and cold water maintaining their thermal properties.

The facility which has been developed with 91 rooms of different cadres, unique warm spring swimming pool, 320 seater amphitheatre, 150-seater mini Hall with training aids and a 500-seater conference hall, is being concessioned in order to yield better revenue and to improve Internally Generated Revenue (IGR) of Ekiti State.

Coca-Cola Nigeria Announces Abiodun Ajiborode and Ayo Awosika As New Franchise Operations Directors

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Coca-Cola Nigeria Announces Abiodun Ajiborode and Ayo Awosika As New Franchise Operations Directors

Coca-Cola Nigeria Limited has announced Ayo Awosika and Abiodun Ajiborode as the new Franchise Operations Directors effective March 1, 2021. Ayo Awosika will be resuming as the Franchise Director for East, North and Central regions of the Nigeria Franchise while Abiodun Ajiborode will take on the role of Franchise Operations Director for Lagos and Western regions of the Nigeria Franchise.

Coca-Cola Nigeria Announces Abiodun Ajiborode and Ayo Awosika As New Franchise Operations Directors

Ayo Awosika brings a wealth of experience to his new role, four of which was at Coca-Cola Nigeria as the Franchise Manager for East & Central regions of the Nigeria Franchise. Ayo boasts over a decade of Sales and Commercial leadership experience in Route to Market, Distributor Management, Sales Strategy and various Sales & Commercial roles with P&G. In his new role as Franchise Director, he will oversee the acceleration of the Coca-Cola System revenue, volume, and value share growth in Nigeria.

Abiodun Ajiborode, also appointed as a Franchise Operations Director, will be performing the same functions but with added responsibilities of accelerating system profitability and sales operations in Nigeria.

Abiodun was formerly the Acting Marketing Director for Coca-Cola Nigeria, utilising two decades of commercial experience spanning across Business and Marketing Leadership, Revenue Growth Management, Sale Management and Strategic Business Planning, to lead the development and implementation of marketing and growth strategies for the business.

Their appointment follows Coca-Cola’s global restructuring in August 2020, aimed at furthering the company’s aspiration to emerge stronger amidst a fast-changing global business environment.

The global structure reorganisation saw the initial leadership appointments of Alfred Olajide as Vice President and Managing Director, Coca-Cola Nigeria; Patricia Obozwa as Vice President, Government Affairs, Communications & Sustainability for Africa; and Monali Shah as Head of Integrated Marketing Experiences, Africa.

Cola-Cola-chi-total beverage company-brand spur

Coca-Cola Nigeria Limited is a total beverage company, offering one of the world’s most valuable brands, Coca-Cola. The Company portfolio includes valuable beverage brands, such as Coca-Cola, Fanta, Sprite, 5Alive juices, Eva water, Schweppes and Limca.

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