Biometrics to Secure Over $3Tn in Mobile Payments by 2025; Driven by Shift to App-based mCommerce

Esan Bolaji
-
0
Biometrics to Secure Over $3Tn in Mobile Payments by 2025; Driven by Shift to App-based mCommerce

1st February 2021: A new study from Juniper Research has found that biometrics will authenticate over $3 trillion of payment transactions in 2025, from just $404 billion in 2020.

The report found that biometrics, including fingerprint, iris, voice and facial recognition are becoming critical to offering compelling app experiences, as mobile payments dominate the payments landscape.

Biometrics to Secure Over $3Tn in Mobile Payments by 2025; Driven by Shift to App-based mCommerce Brandspurng

The extraordinary growth of over 650% will be fuelled by increased use of OEM Pays (such as Apple Pay and Samsung Pay), for both remote and in-store payments, as these applications have already embraced biometric authentication methods.

The research recommends that all payment apps take notice of biometrics and build the most seamless user experience leveraging biometric capabilities, or risk losing out to more secure OEM Pay alternatives.

Biometric Usage Lagging Behind Hardware Adoption

The new research, Mobile Payment Security: Key Opportunities, Vendor Strategies & Market Forecasts 2021-2025, found that although biometric capabilities will reach 95% of smartphones globally by 2025, only 35% of these smartphones will be used for making biometric payments in eCommerce in the same year.

The research identified that stored card-on-file payments without biometric security remain common in eCommerce and that it will require significant efforts by stakeholders to transition spend to biometrically-secured methods.

Research co-author Susan Morrow explains:

‘While biometrics is now an established part of the ecosystem, payments and eCommerce apps have not kept pace with the rate of innovation. Merchants must adopt biometric capabilities rapidly and educate users to best secure the increasingly massive eCommerce market.’

Contactless Payments Driving Biometrics Use, but Card a Limiting Factor

The research also found that contactless mobile payments are a major driver of increased biometrics use, with the number of contactless mobile transactions secured by biometrics increasing by over 520% between 2020 and 2025.

The research identified contactless cards as the main threat to this, as they do not require the extra verification step, meaning that payment vendors need to incentivise wallet use to drive greater adoption of biometrics.

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

Nigeria’s Deficit Monetisation May Raise Macro-Stability Risks

Esan Bolaji
-
0
Nigeria’s Deficit Monetisation May Raise Macro-Stability Risks

The federal government of Nigeria’s (FGN) repeated recourse to its Ways and Means facility (WMF) with the central bank (CBN) highlights weaknesses in public finance management, says Fitch Ratings.

Sustained use of direct monetary financing could raise risks to macroeconomic stability – given the current weak institutional safeguards – but we expect the FGN to reduce its use of the facility in 2021.

The FGN directly borrowed 1.9% of GDP from the CBN to fund its fiscal deficit in 2020, estimated by Fitch at 3.6% of GDP. A number of emerging markets resorted to central bank deficit financing in 2020 against a background of urgent spending needs and temporary market dislocations associated with the coronavirus pandemic. However, the use of central bank financing in Nigeria predates the pandemic shock.

Naira Gains against the USD at the Bureau De Change, Parallel (“black”) Markets Brandspurng
Afolabi Sotunde Illustration Naira

We estimate that the balance of the government’s WMF with the CBN was around NGN9.8 trillion (6.7% of GDP) at end-2019, up from NGN5.4 trillion (4.2% of GDP) at end-2018.

Unlike the government, we include this balance in our metrics for Nigeria’s government debt. Borrowing from the facility accounted for 30% of the FGN’s debt at end-2019, on our estimates.

nigeria_central_bank_deficit_financing_Brandspurng_Nigeria’s Deficit Monetisation May Raise Macro-Stability Risks

Repeated central bank financing of government budgets could raise risks to macro-stability in the context of weak institutional safeguards that preserve the credibility of policymaking and the ability of the central bank to control inflation.

The CBN’s guidelines limit the amount available to the government under its WMF to 5% of the previous year’s fiscal revenues. However, the FGN’s new borrowing from the CBN has repeatedly exceeded that limit in recent years and reached around 80% of the FGN’s 2019 revenues in 2020.

The CBN’s guidelines require borrowing under the WMF to be repaid in the year in which it was granted. The government has stated its intention to securitise balances borrowed under the facility, but published statistics indicate that the amounts borrowed have been rolled over repeatedly in recent years.

Data published by the government indicate that the treasury paid NGN912.6 billion on the facility in 2020, equivalent to 9% only of the outstanding balance at end-2019. The government has opted to use this source of financing, despite ample liquidity on its domestic debt markets, as illustrated by negative real yields.

Our understanding is that its ability to borrow from domestic debt markets is constrained by the authorisation granted by parliament in the budget law. The repeated resort to CBN thus reflects higher-than-expected deficits, pointing to entrenched weaknesses in public finance management.

Fitch views the Nigerian government’s fiscal revenue and expenditure projections for 2021 as broadly realistic, which should preclude further significant borrowing by the sovereign from the CBN facility this year. The government may nonetheless use the facility more extensively if the deficit proves wider than forecast or if external financing falls short of planned amounts.

Monetary financing of the fiscal deficit raises challenges to monetary policy implementation, as tight management of domestic liquidity is a key tool under the CBN’s policy of prioritising the stability of the naira. It could also complicate official efforts to bring inflation back under control.

High inflation in Nigeria is a credit weakness. Nigeria’s consumer prices rose by 15.7% year-on-year in December 2020. However, at present, we view inflation as being driven primarily by cost-push factors – including restrictions on access to foreign exchange for imports, the impact of border closures on trade, hikes in minimum wages and VAT, and the removal of the fuel subsidy – rather than overly loose monetary policy.

Wunderman Thompson Highlights 100 trends that will shape 2021

Brand Spur
-
0
Wunderman Thompson Highlights 100 trends that will shape 2021

Wunderman Thompson Intelligence, a WPP agency, presents The Future 100: Trends and Change to Watch in 2021. The report is developed by Wunderman Thompson Intelligence, the agency’s futures think tank and innovation unit.

The one hundred trends are drawn from the culture, technology, travel, branding & marketing, food & drink, beauty, retail, health, business and finance sectors.

Wunderman Thompson Highlights 100 trends that will shape 2021

The report also features expert opinions, including that of Brenda Millis, principal of creative and consumer insights at Adobe Stock, and Don Stein, CEO and founder of Teooh, among others.

Cautious optimism sets the pace for 2021 as the world reflects on the challenges of 2020 and enters a hopeful year of economic rebound and societal healing. Big change is already in motion.

The United Kingdom exits the European Union, a Biden-Harris administration assumes leadership, and multiple promising COVID-19 vaccines roll out around the world—offering a glimpse of a post-pandemic era.

Mel Edwards, Global CEO, Wunderman Thompson commented,

“At a time when gaining a competitive advantage has never been more important, the Future 100 report reveals the key trends that will shape consumer behaviour and define the way ambitious brands engage with their customers during the coming year. These insights will help marketing leaders inspire growth for their organisations and move forward into 2021 with confidence and optimism.”

Key spotlights:

Culture: New gaming frontiers. Gaming is no longer just for gameplay; traditional gaming spaces are transforming into cultural centres where people can virtually gather for community, entertainment and business.

Tech & Innovation: Data sustainability. Climate-change conversations tend to fixate on physical waste, but what are the environmental implications of rising data usage? 

Travel & Hospitality: Isolationist travel. Preference for destinations that offer nature, adventure and solitude are on the rise.

Brands & Marketing: Branding together. A new class of leadership sees brands putting aside competition and instead of collaborating to tackle social and environmental challenges.

Food & Drink: Ghost kitchens.  “In the same way that, in the last five years, third-party delivery has helped to define the restaurant industry, the next stage of that evolution over the next five years is going to be ghost kitchens and other forms of distributed production,” Euromonitor’s global head of beverages and foodservice research Michael Schaefer tells Wunderman Thompson Intelligence.

Beauty: Intersectional beauty. Politicized consumers and the Black Lives Matter and intersectional feminism movements are highlighting underrepresentation and calling beauty brands out publicly.

Retail: Live commerce.  Retail-tainment moves online with engaging, tailored shopping experiences for digital-first consumers.

Work: Micropreneurs. Budding entrepreneurs are creatively kick-starting new businesses—and the economy.

Health: Immunity wellness. Wellness offerings are expanding to incorporate immunity strengthening elements for consumers who want to boost their defences against viruses.

Finance: Unbiased banking.  A rise in neobanks, which operate exclusively online without bricks-and-mortar branches, is addressing the frequently overlooked needs of minority groups.

For all 100 trends, including 10 from each of the above sectors, plus 21 exclusive predictions from industry experts, download the full report.

WPP named in Bloomberg Gender-Equality Index for 3rd year in a row

Esan Bolaji
-
0
WPP named in Bloomberg Gender-Equality Index for 3rd year in a row

27 Jan 2021 – WPP was today named in the 2021 Bloomberg Gender-Equality Index (GEI) for the third consecutive year. The Index recognises companies committed to advancing gender equality in the workplace through policy development, representation and transparency.

The 2021 GEI is made up of 380 companies from 11 sectors headquartered across 44 countries and regions, all raising the bar of what should be expected from other companies within the same industry.

WPP named in Bloomberg Gender-Equality Index for 3rd year in a row Brandspurng

It measures how organisations are promoting gender equality across five pillars:

  1. Female leadership and talent pipeline,
  2. Equal pay and gender pay parity,
  3. Inclusive culture, sexual harassment policies, and
  4. Pro-women brand.

WPP was included in this year’s Index for meeting the global threshold established by Bloomberg to reflect a high level of disclosure and overall performance across these areas.

Mark Read, CEO of WPP, said: 

“Creating a more inclusive culture across WPP is essential to what we do: it allows us to attract the best talent, learn from each other and create extraordinary work for our clients. We are proud that our sustained efforts to drive greater gender equality across our business continue to be recognised in the Gender-Equality Index.”

Peter T. Grauer, Chairman of Bloomberg, said: 

“The companies included in the 2021 GEI are expanding the ESG data universe to include gender-related data that investors are demanding today. Their commitment to disclosure is making the business case for inclusion, and driving transparency in the markets.”

WPP is a creative transformation company.

Fitch Rates Ecobank Nigeria at ‘B-‘; Outlook Stable

Esan Bolaji
-
0
Fitch Rates Ecobank Nigeria at ‘B-‘; Outlook Stable

Fitch Ratings has assigned Ecobank Nigeria Limited (ENG) a Long-Term Issuer Default Rating (IDR) of ‘B-‘ with a Stable Outlook, Viability Rating (VR) of ‘b-‘ and National Long-Term Rating of ‘BBB (nga)’.

A full list of ratings is below.

KEY RATING DRIVERS

IDRS and VR

ENG’s IDRs are driven by its standalone creditworthiness, as expressed by its Viability Rating (VR). The VR reflects the constraint of Nigeria’s challenging operating environment, the bank’s very high impaired loan ratio, weak profitability and modest core capital buffers.

This is balanced by company profile strengths as well as a solid funding profile and good foreign-currency liquidity, which is enhanced by prudent liquidity management by the Ecobank group.

Ecobank Group Empowers Women Businesses through Ellevate, its new women-focused programme

The Stable Outlook on ENG’s Long-Term IDR reflects our view that the bank has sufficient headroom at its current rating to absorb moderate shocks from sustained downside risks to the operating environment, the heightened level of risk in doing banking business in Nigeria and the ensuing risks to its financial performance (particularly asset quality) over the next 12-18 months.

The Stable Outlook also reflects our expectations that capitalisation will remain resilient over this period with the bank maintaining adequate buffers over the minimum regulatory requirements.

The VR benefits from ENG’s company profile strengths of being part of the leading pan-African Ecobank group. ENG is a 100% owned subsidiary of Ecobank Transnational Incorporated (ETI; B-/Stable). ETI is a regional bank holding company with fully-fledged banking subsidiaries in 33 African countries (collectively the group).

The group also has a banking license in France and representative offices in Addis Ababa, Johannesburg, Beijing, London, and Dubai. The group’s operations are highly integrated, with all entities connected to a common operating platform and risk management framework, and common branding.

ENG is a material subsidiary for ETI, and its largest single entity, contributing to 23% of group assets at end-9M20. ETI continues to implement a turnaround strategy at ENG, having deleveraged and de-risked the bank in recent years, although it returned to growth in 2020 and plans above-sector-average loan growth in the medium term. Management quality is a relative strength with ETI appointing experienced bankers to ENG’s senior team.

Asset quality is the key rating weakness. ENG’s impaired (IFRS 9 Stage 3) loans ratio stood at 21.7% at end-9M20, (end-2019: 23.9%), the highest among banks under our coverage in Nigeria, mainly reflecting disproportionally high exposure to the oil and gas sector (end-9M20: 40% of gross loans), albeit mainly originated before the 2014 oil price crash, as well as low loan growth between end-2015 and end-2019.

Around 22% of the bank’s oil and gas exposures were impaired and more than half were problematic (in stage 2 or stage 3) at end-9M20.

Our baseline scenario is that ENG’s stage 3 loan ratio is unlikely to worsen substantially in 2021, due to recoveries, write-offs and restructuring, moderate new impaired loan generation, and loan growth against an improving macro backdrop. At end-9M20, stage 3 loans were concentrated on two large exposures (equal to 40% of the total), which ENG expects to restructure in 2021.

This would result in the stage 3 loan ratio declining to around 15% (still above the current sector average). However, the resolution of these two large exposures remains contingent on external factors, in our view.

At end-9M20, the proportion of loans subject to Covid-19 debt relief was relatively high, but our expectation is that the majority of this book will not turn impaired when measures expire as it will be supported by a gradual recovery in oil prices and economic activity.

Loan loss allowance coverage of stage 3 loans was a low 50% at end-9M20, as the bank benefits from high collateral coverage of its oil and gas exposures. Consequently, and given our expectation of fairly flat stage 3 loans, we do not expect a material increase in loan impairment charges (LICs) in 2021 that would hamper profitability.

We expect ENG to remain profitable in 2021, although its performance metrics will continue to lag peers. Fitch’s core metric of operating profit/total risk-weighted assets (RWAs) was a very low 0.9% in 9M20. However, we expect better-operating income generation with resumed loan growth, particularly in SME finance, together with strong expansion in transaction banking and a continuing fall in the cost of funding.

Nonetheless, weak operating efficiency continues to weigh on the bank’s performance, as reflected in its cost to income ratio of 77.4% in 9M20, albeit down from 95.9% in 2019 following two years of, especially weak revenue generation.

The bank has partly addressed its high-cost base through network rationalisation and a greater focus on alternative delivery channels. Contained LICs on the back of recoveries and high collateral coverage should also support a gradual recovery in profitability.

ENG’s Tier 1 capital ratio of 13.5% and total capital adequacy ratio (CAR) of 15.3% at end-9M20 are comparatively weaker than peers, reflecting mainly weak internal capital generation. However, the CAR has a good buffer over the 10% regulatory minimum.

ENG’s capitalisation has been supported by zero dividend pay-outs since 2016 and a series of capital injections from ETI since 2014 totalling about USD450 million. Barring any material asset quality shocks, and with the turnaround in the business and higher earnings retention, we expect ENG’s CAR to gradually improve to within ENG’s guided range of 15%-18% in 2021.

However, at the same time capital encumbrance is high with net impaired loans representing 38% of Fitch core capital (FCC) at end-9M20, leaving core capital exposed to asset quality shocks beyond our baseline scenario.

ENG has a solid funding profile, with low-cost current and savings accounts reaching 58% of total deposits at end-9M20 helping the bank to reduce its cost of funding. It has achieved good deposit growth through the expansion of digital channels and its financial inclusion initiatives. Retail and SME deposits accounted for 58% of total customer deposits at end-9M20, which results in reasonable deposit concentration, with the top 20 customer deposits representing 29% of the total.

We view ENG’s liquidity management as prudent with contingency plans in place. Local-currency liquidity is underpinned by a high share of liquid assets (cash, interbank placements and sovereign securities) representing more than 50% of total assets at end-9M20.

ENG’s foreign-currency funding benefits from sizeable interbank deposits, which represented about 15% of total funding at end-9M20. More than half of these deposits (about USD400 million) came from ETI’s affiliates at end-9M20.

This reflects the group’s well-established inter-affiliate short-term deposit placement programme (IAP), amounting to USD650 million at end-1H20, which provides ENG with a significant competitive advantage compared with most other Nigerian banks, as ENG is able to rely on IAP funding when foreign-currency liquidity conditions temporarily tighten in Nigeria.

SUPPORT RATING

Fitch’s view of institutional support considers ETI’s high propensity to support ENG if required. This reflects ETI’s 100% stake in ENG, ENG’s role within the group, a high level of management and operational integration, reputational risks and common branding.

Nevertheless, we consider that support from ETI, while possible, cannot be relied upon given ENG’s relatively large size meaning required capital support could be excessive relative to ETI’s ability to provide it.

NATIONAL RATINGS

ENG’s National Ratings reflect its creditworthiness relative to other issuers in Nigeria and are driven by its standalone strength, reflecting its company profile strengths as well as solid funding and liquidity profile, underpinned by ordinary foreign currency liquidity support from the group.

The National Ratings are lower than the highest rated Nigerian peers due to ENG’s comparatively weaker asset quality, profitability and capitalisation metrics.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive rating action/upgrade:

Rating upside is limited at present given the bank’s high impaired loan ratio and, consequently, pressures on other financial factors.

Rating upside is contingent on a material improvement in operating income and profitability, with performance metrics more akin to the larger banks in Nigeria. This will depend on volume growth and a sustained improvement in asset quality.

Factors that could, individually or collectively, lead to negative rating action/downgrade:

A sharp increase in the bank’s net impaired loans/FCC ratio, closer to its recent peak of around 50%, or a drop in the bank’s FCC ratio below 10%.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Financial Institutions and Covered Bond issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years.

The complete span of best- and worst-case scenario credit ratings for all rating categories range from ‘AAA’ to ‘D’. Best- and worst-case scenario credit ratings are based on historical performance.

Mouka Gives Out 54 Trucks to Business Partners in a Jiffy, Encourages Steadfastness (Photos)

Esan Bolaji
-
0
Mouka Gives Out 54 Trucks to Business Partners in a Jiffy, Encourages Steadfastness (Photos)

Mouka, the foremost manufacturer of mattresses, pillows and other bedding products in Nigeria, has rewarded its Business Partners with 54 brand new trucks and other gifts, in appreciation for their dedication to the brand and the sales of its products. The rewards are expected to boost the morale and trade of Business Partners.

Mouka Award Brandspurng Mouka Gives Out 54 Trucks to Business Partners in a Jiffy, Encourages Steadfastness (Photos) Mouka Award Brandspurng Mouka Gives Out 54 Trucks to Business Partners in a Jiffy, Encourages Steadfastness (Photos)

The trucks were presented to them at this year’s Business Partners’ awards ceremony which took place at Mouka’s head office at Awosika Avenue, in Ikeja, Lagos, on Saturday, January 30, 2021, under strict Covid-19 protocol.

Mouka Award Brandspurng Mouka Gives Out 54 Trucks to Business Partners in a Jiffy, Encourages Steadfastness (Photos) Mouka Award Brandspurng Mouka Gives Out 54 Trucks to Business Partners in a Jiffy, Encourages Steadfastness (Photos)

The event was colourful yet modest amidst great excitement as the frontline company’s generosity dumbfounded the Business Partners. Mouka’s Chief Executive Officer, Raymond Murphy, extolled the Business Partners. He commended them for staying committed to the brand even though the pandemic and harsh market realities.

Mouka Award Brandspurng Mouka Gives Out 54 Trucks to Business Partners in a Jiffy, Encourages Steadfastness (Photos) Mouka Award Brandspurng Mouka Gives Out 54 Trucks to Business Partners in a Jiffy, Encourages Steadfastness (Photos)

He remarked that the company has been supporting its Business Partners in various ways; especially through incentives to enhance their business.

The Mouka boss reiterated that the frontline company will always remain committed to safeguarding consumers’ wellbeing by delivering superior products for quality sleep and ultimately sound health.

Mouka Award Brandspurng Mouka Gives Out 54 Trucks to Business Partners in a Jiffy, Encourages Steadfastness (Photos)

Mouka’s stables are quality brands such as Wellbeing orthopaedic mattresses, Klinic hospital mattress, Dreamtime water-resistant mattress, and a wide range of pillows help Nigerians sleep well and wake up refreshed.

How to enjoy 6 months’ interest-free payment on latest Samsung Galaxy S21 smartphones

Esan Bolaji
-
0
How to enjoy 6 months’ interest-free payment on latest Samsung Galaxy S21 smartphones

Global Original Equipment Manufacturer (OEM), Samsung has partnered with Africa’s foremost technology and lifestyle hub, Tech Experience Centre to offer Nigerians a six months’ interest-free payment option on its latest devices – the Samsung Galaxy S21 series.

The smartphones – the S21, S21+ and S21 Ultra – were recently unveiled to the public at the Tech Experience Centre on Yudala Heights, Idowu Martins Street, Victoria Island.

How to enjoy 6 months’ interest-free payment on latest Samsung Galaxy S21 smartphones

Equally important, interested Nigerians who desire to get their hands on the amazing devices without burning a hole in their pockets have been offered a flexible way of acquiring them and paying later within six months, with the added incentive of not having to pay any interest. The offer, exclusive only to the Tech Experience Centre, is valid until Thursday, February 11, 2021.

Furthermore, interested subscribers can indicate their interest in pre-ordering any of the devices via https://techexperiencecentre.com/samsung-preorder/ or by calling 09040788010.

How to enjoy 6 months’ interest-free payment on latest Samsung Galaxy S21 smartphones

Head of the Tech Experience Centre, Chidalu Ekeh, says the offer is a unique one, in view of the prevailing economic constraints and the need to lower the entry cost of acquiring new devices for Nigerians.

‘‘We understand the need to lower the entry cost for new, cutting-edge devices as these, especially when you consider the current depression in the economy. This explains the partnership between Tech Experience Centre and Samsung to make this happen.

Since we rolled out this offer, we have recorded significant uptake from many interested subscribers who are keen to take advantage of the zero-interest financing opportunity to get the Samsung Galaxy S21 devices,’’ she stated.

The Galaxy s21 has been described as Samsung’s MVP for 2021, or in other words, its most value-driven phone. It boasts a 6.2-inch display, new camera software and the latest chipset specs among Android phones.

On its part, the Galaxy S21+ shares its camera set-up with the Galaxy S21. It comes with a 12-megapixel f/1.8 primary sensor with Dual Pixel autofocus and OIS. There is also a 12-megapixel f/2.2 ultra-wide camera with 120-degree FOV. A 64-megapixel f/2.0 camera with OIS provides 3x optical and up to 30x Space Zoom.

Selfie duties are handled by a 10-megapixel camera on the front. The handset is capable of recording video at 8K resolution. Also on board is a 4,800mAh battery which is only slightly larger than the 4,500mAh battery of the Galaxy S20+. It supports 25W fast charging.

The Galaxy S21 Ultra will be a marked improvement on the S20 Ultra. The device spots an improved, second-generation 108-megapixel primary sensor and a 12-megapixel ultra-wide sensor. The device also boasts two 10-megapixel telephoto (zoom) sensors with 3x and 10x optical zoom, with laser autofocus fully optimized.

Also, the Samsung Galaxy S21 Ultra comes with cutting-edge software features with the latest iteration of its custom Android skin; as well as new camera features that make the best of the new hardware in addition to new augmented reality experiences.

KNOMO Acquired By Inc & Co With The Launch Of New Division

Esan Bolaji
-
0
KNOMO Acquired By Inc & Co With The Launch Of New Division

Leading the inclusive and collaborative digital group, Inc & Co, announces new division Inc Retail Group. Despite challenging market conditions within the retail environment, Inc & Co is on track with its growth and development plans with the launch of a new division that will see the Manchester-founded business collective expand into the retail arena for the first time.

Inc Retail Group will be kickstarted through the acquisition of the much-loved accessories brand, KNOMO, which will be instrumental in developing the retail operation arm. Featured in GQ Magazine, Elle & Forbes, KNOMO is one of the country’s highest-rated providers of luxury bags, sourcing the finest full-grain leathers and durable, premium fabrics from across the globe.

KNOMO Acquired By Inc & Co With The Launch Of New Division Brandspurng

Jack Mason, Group CEO, parent company Inc & Co says

“As part of our three-year growth and development plan, we are proud to be continuing to diversify our operations, and we’re incredibly excited to be moving into the world of retail.

Acquiring KNOMO was a natural move for us, with the brand’s exquisite range of backpacks, briefcases, and laptop bags already well-loved across the UK, making it the perfect brand to blend into the Inc Retail offering.”

Inc Retail Group will be headed up by newly appointed, experienced industry expert Dan Shaw, who has been brought on board as Managing Director of the retail group. “Dan and I have a unique shared vision for how we believe we can reimagine the high street and he brings with him a wealth of knowledge and experience to make that vision come to life,” says Mason.

Dan Shaw, the former board director at Jones Bootmaker, has previously held senior roles at Gant UK, Tommy Hilfiger, and most recently headed up retail innovation at intu shopping centres.

Shaw is excited to join the team and brings extensive experience in wholesale, franchise, and retail operations, and is looking to bring several brands to sit within the retail group that complement Inc & Co’s vision.

Speaking of his new role at Inc Retail Group, Shaw said;

“Having spent quite some time working in an advisory capacity with Jack and his team, there was a natural, clear synergy and shared vision with what we both want to achieve on the high street. It’s a very exciting opportunity that will allow me the freedom to draw upon my own experience to build a strong retail offer for the brands within the Inc Retail Group.”.

Inc Retail Group will soon be announcing further acquisitions that are currently in the pipeline and this initial acquisition of KNOMO will propel the retail division in Q1 2021 and beyond.

Quadrant MSL bags 2020 Model Agency of All Time Award

Esan Bolaji
-
0
Quadrant MSL bags 2020 Model Agency of All Time Award

Foremost Public Relations and Strategic Engagement Consultancy, Quadrant MSL, has been presented the Model Agency of All Time award by the Lagos State Chapter of the Nigerian Institute of Public Relations (NIPR), at the fifth edition of its PR Gala and Awards known as the Lagos PR Industry Gala and Awards (LaPRIGA).

This award comes as a recognition of Quadrant MSL’s role, not only as a pioneer – being Nigeria’s first full-service Public Relations Consultancy but as a pathfinder in delivering quality of thought, approach and work recorded in the impact of past campaigns, assets, quality of clients, feedback from relevant stakeholders among other key metrics that the agency has achieved.

Quadrant MSL bags 2020 Model Agency of All Time Award
www.brandspurng.com

Speaking on the receipt of the award, Head of Business, Quadrant MSL, Bukola Shobowale said that the award was a testament to the great work being done by the Humans of MSL team and expressed her excitement for the new year and beyond.

“It is our honour to receive the Model Agency of All Time award from our prestigious institution. Doing great work is good but being identified as a desirable organization to emulate is even better.

At Quadrant MSL, we strive to raise the standards of excellence and deliver optimally to all our clients, with a key focus on result-oriented initiatives that keep in view, agreed on key performance indicators, through the utilization of a plethora of strategic frameworks and methods from our global company, Publicis: the world’s third-largest marketing communications consultancy.”

She went further to say that

“Our mandate is to ensure creativity and strategy is never lost in the execution of our work. Our clients attest to the meticulously thought out approaches applied to all our projects and the resultant effect on set agendas.

As a pioneer, the onus continues to lie on us leading in this path of success, and ensuring that the vision for which this field of communications was designed never goes understated or underexpressed.”

Quadrant MSL is Nigeria’s foremost reputation management company and has been winning in Nigeria since 1989.

With services ranging from Perception Design, Digital & Social media Communications, Corporate Communications, Stakeholder Engagement, Advocacy, Research and Analytics, Issues & Crisis Management; Quadrant MSL has over the years delivered value to key multinationals and indigenous businesses some of which include 9Mobile, Philip Morris International, CNN, Dell, British Airways, Fidelity Bank, Ericsson, HMD Global, European Union among others.

LaPRIGA, which was held at Shell Hall, Muson Centre, Onikan Lagos back in December 2020  is an annual occasion designed to showcase the excellence in PR practice to boost the profile of the profession.

LaPRIGA: Fifth Lagos PR Industry Gala & Awards Holds December 19

7 things to know about the MTN/AU Partnership

Esan Bolaji
-
0
7 things to know about the MTN/AU Partnership

7 things to know about the MTN AU Partnership Brandspurng

7 things to know about the MTN AU Partnership Brandspurng

MTN Group furthers financial inclusion
MTN Group furthers financial inclusion – www.brandspurng.com
1...2,1222,1232,124...3,966Page 2,123 of 3,966