General Motors Unveils New Logo

For only the fifth time in 113 years, General Motors has a new logo.

The visual identity refresh is part of the brand’s new campaign highlighting its efforts toward the mass adoption of electric vehicles, which includes a commitment to making 30 electric models by 2025. The announcement came ahead of the automaker’s keynote at CES 2021 on Jan. 12, which will be delivered by GM chairman and CEO Mary Barra.

General Motors Unveils New Logo Brandspurng

“We’re launching this campaign now because unlike ever before, we have the solutions and capability to put everyone in an EV,” said General Motors Global CMO Deborah Wahl.

GM has made its electrical ambitions clear—it revealed the return of the Hummer as an all-electric vehicle during the 2020 Super Bowl—predicated upon a commitment made three years ago to “create a world with zero crashes, zero emissions and zero congestion.

” Titled “Everybody In,” the campaign features author Malcom Gladwell, surfer Bethany Hamilton and other influencers who, GM hopes, will highlight the inclusive future of electric vehicles.

Wahl declined to provide spending figures but did share that the campaign would run throughout the year.

Equities Market Ended the Week on a Negative Note…ASI Down by 37bps WoW

The local equities market retracted from uptrend as bears dominated proceedings across small and large-cap tickers today. The benchmark All Share Index (ASI) waned by 116bps to 40,120.22 with market capitalization shedding N243.93bn to settle at N20.98tn. In summary, the Year to Date (YtD) performance slides to -0.37%.

The sectoral performance was however bullish as 4 out of the 5 sectors closing in the green zone. Insurance and Banking indices went up by 0.26% and 1.31 buoyed by gains in LINKASSURE (+8.47%), LASACO (+5.71%) and ZENITH BANK (+1.38%).

Equally, Consumer goods and oil & gas indices advanced by 0.42% and 6.98% following bargain hunting in INTEBREW (+2.99%), SEPLAT (+10.00%) and TOTAL (+10.00%). The industrial index, however, closed negative on the back of selloffs in DANGCEM (-8.13%) and WAPCO (-0.45%).

Equities Market Ended the Week on a Negative Note...ASI Down by 37bps WoW Brandspurng
SOURCE: PFI Capital

Investors’ sentiment measured by market breadth improves as 35 stocks advanced while only 11 stocks declined to indicate a 3.18x market breadth. Activity level was also positive as volume and value of transaction went up by 45.00% and 42.51% in that order.

The bond market closed on a muted note as the yield on short maturities compressed. Notably, the yield on the FGN-APR-2023 declined by 0.09% to close at 3.48% while Yield on FGN-JUL-2030 remain stable at 7.58%

Market Snapshot

  • Equities Market Closed on a Negative Note…ASI Down by 1.16bps today
  • The bond market traded on a quiet mood
  • U.S. Stocks Advance amid Drop-in banking stocks
  • Oil Surges on the back of Stimulus Hopes and Rally From Saudi Cuts
  • Naira lost 0.42% against the USD at the parallel market to close at N472/$

Domestic Bourse Index Falls by 1.16% amid Sell-offs on Dangote Cement and WAPCO Shares

NIBOR Moderates for most Tenor Buckets amid Renewed Liquidity Ease…

The local equities market closed in red for the last trading day of the week as its All Share Index (ASI) moderated by 1.16% to close at 40,12.22 points; albeit the Exchange recorded more gainers (39) than losers (11). Hence, the year-to-date performance of the NSE ASI slipped into the negative zone (-0.37%).

Specifically, investors booked profit on industrial stocks such as WAPCO and Dangote Cement; their share prices fell by 8.13% and 0.45% respectively.

Consequently, the NSE Industrial index suffered a loss of 4.02%. On the positive side, the NSE Banking, NSE Insurance, NSE Consumer Goods and the NSE Oil/Gas indices rose by 1.31%, 0.26%, 0.42% and 6.98% respectively.

Meanwhile, activity in the market was weak as total volume and value of stocks traded declined by 84.38% and 51.12% to 0.33 billion units and N3.6 billion respectively.

Elsewhere, NIBOR fell for most tenor bucket amid renewed liquidity ease; also, NITTY moderated for most maturities tracked amid demand pressure. In the OTC bonds market, the values of FGN bonds moderated for most maturities tracked; however, the value of FGN Eurobond rose for most maturities tracked.

AfDB Grants $11.26 million for Women and Girls’ Education

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The Project aims to help improve access to quality secondary education in a safe and healthy school environment for 5,000 girls.

January 8, 2021 – The Board of Directors of the African Development Bank (AfDB) has approved a grant of $11.26 million to the Government of Chad to finance the Girls’ Education and Women’s Literacy Project– the first Bank grant exclusively targeting women and girls.

AfDB grants $11.26 million for women and girls’ education Brandspurng
Source: African Development Bank Group (AfDB)

The project will be financed from the Bank’s Transition Support Facility and will be implemented over a five-year period by the Chadian Ministry of National Education and Civic Promotion, in coordination with partners involved in the education sector, civil society organisations, and youth organisations. The Chadian government will contribute a non-monetary contribution of $713,000 towards the program.

“Through this financing, the African Development Bank is providing support to the Chadian government to reduce inequalities through access to education – especially for girls. This enables the development of job skills and the improvement of women’s productivity potential through literacy, job training and the development of income-generating activities,” said Soloman Koné, the Bank’s Deputy Director for Central Africa.

The Project aims to help improve access to quality secondary education in a safe and healthy school environment for 5,000 girls as well as train 2,200 teachers and administrative officials.

It is also expected to provide literacy programs to more than 7,500 women in Chad’s Hadjer Lamis, Ouaddaï and N’Djaména regions, The Bank-funded project has a component to raise awareness among target-area residents about reducing the incidence of gender-based violence, as well as on the importance of girls’ schooling to reduce early marriage and pregnancy.

In Chad, 67% of girls are married before the age of 18, and 30% of girls are married before the age of 15, according to non-governmental organization Girls Not Brides.

The Girls’ Education and Women’s Literacy Project plans to renovate or rebuild school buildings and institutions, such as the Amriguébé school complex in N’Djamena that educates pre-primary, primary and high school children, and a new women’s high school in Massakory, Hadjer Lamis region, which would receive educational, scientific and digital equipment.

Project components have provisions to help supply both schools with safe drinking water, solar power, school clinics, build girl-friendly latrines, as well as establish computer and science laboratories.

The Girls’ Education and Women’s Literacy Project is integrated into the Government of Chad’s Interim Education Plan which is working to upgrade the nation’s education system and strengthen human capital –education, health and well-being of children and youth today who will become Chad’s working population of tomorrow.

Outfit Colours To Complement Brown Skin

One of the best colours or hues that every brown skin person needs to own is RED. It offers so much variety and evokes passion, fire and power. Every brown skin person needs to choose their shade properly depending on their skin, in order to fully enjoy the beauty of the colour.

If you do indeed intend to make a statement, pick a red with undertones that match your complexion’s undertones (warm or cool).

Outfit Colours To Complement Brown Skin Brandspurng

Shades of Red

  • Bright scarlet
  • Deep ruby

Clothing Items:

Don’t go too big with this colour unless you are ready to make a statement. Red can be a great colour to incorporate as a print on a blouse or a blazer thrown over more neutral items.

Accessories

That being said people who work in truly conservative offices may not be allowed to rock such a bold colour.

This is where RED accessories come into play.

Headbands, hats, scarves, socks, purses, lapel pins and more are all perfect places to sneak some colour into your wardrobe.

They’re a small way to get used to this statement colour.

By: Joan K. Vincent-Otiono

Who can take the Pfizer-BioNTech COVID-19 vaccine?

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WHO’s Strategic Advisory Group of Experts on Immunization (SAGE) has issued its policy recommendations for the rollout of the first COVID-19 vaccine approved for emergency use, the Pfizer-BioNTech COVID-19 vaccine.

According to SAGE, the Pfizer-BioNTech COVID-19 mRNA vaccine is safe and effective. Nevertheless, there are specific populations for whom vaccination is not recommended, either due to contraindications, lack of supply, or limited data. These populations currently include people with a history of severe allergies, most pregnant women, international travellers who are not part of a prioritized group, and children under 16.

The priority is to start vaccinating health workers at high risk of exposure, followed by older adults, before immunizing the rest of the population.

Who can take the Pfizer-BioNTech COVID-19 vaccine Brandspurng

People with allergies

People with a history of a severe allergic reaction to any component of the vaccine should not take it.

Pregnant and breastfeeding women

Pregnant women are at higher risk of severe COVID-19 than non-pregnant women, and COVID-19 has been associated with an increased risk of pre-term birth.

However due to insufficient data, WHO does not recommend the vaccination of pregnant women at this time.

In case a pregnant woman has an unavoidable risk high of exposure (e.g. a health worker), vaccination may be considered in discussion with their healthcare provider.

It is recommended to avoid pregnancy for 2 to 3 months post-vaccination.

If a breastfeeding woman is a part of a group (e.g. health workers) recommended for vaccination, vaccination can be offered. WHO does not recommend discontinuing breastfeeding after vaccination.

Children

The vaccine has only been tested in children above 16 years of age.

Therefore, at this time, WHO does not recommend vaccination of children below 16 years of age, even if they belong to a high-risk group.

People with known medical conditions

The vaccine has been found to be safe and effective in people with various conditions that are associated with increased risk of severe disease.

This includes hypertension, diabetes, asthma, pulmonary, liver or kidney disease, as well as chronic infections that are stable and controlled.

Further studies are required for the impacts on immune-compromised persons. The interim recommendation is that immune-compromised persons who are part of a group recommended for vaccination may be vaccinated, though when possible, not before receiving information and counselling.

Persons living with HIV are at higher risk of severe COVID-19 disease. Limited safety data exists on HIV-infected persons with the well-controlled disease from the clinical trials. Known HIV-positive vaccine recipients should be informed, and when possible, counselled in relation to the available data.

People who have or had COVID-19 already

Vaccination can be offered to people who have had COVID-19 in the past.

But given the limited vaccine supply, individuals may wish to defer their own COVID-19 vaccination for up to 6 months from the time of SARS-CoV-2 infection. As more data becomes available on the duration of immunity after infection, this time period may be adjusted.

Testing for prior infection is not recommended for the purpose of vaccine decision-making.

Travellers

At present, WHO does not support the introduction of requirements for proof of vaccination against COVID-19 for international travellers as a condition for exiting or entering a country or for travelling internationally. See  WHO’s interim guidance on international travel during the pandemic.

Dosage

A protective effect starts to develop 12 days after the first dose, but full protection requires two doses which WHO recommends be administered with a 21 to 28-day interval. Additional research is needed to understand longer-term potential protection after a single dose.

Vaccines will not end COVID-19 alone

Safe and effective vaccines will be a gamechanger: but for the foreseeable future, we must continue to wear masks, physically distance, avoid crowds and apply other health measures. Being vaccinated doesn’t mean that we can throw caution to the wind and put ourselves and others at risk, particularly because it is still not clear the degree to which the vaccines can protect not only against disease but also against infection and transmission.

What about other vaccines being developed to fight COVID-19

WHO does not usually make vaccine-specific recommendations, issuing instead one recommendation that covers all vaccines for a given disease, unless the evidence suggests a different approach is required.

Due to the large variety of COVID-19 vaccines based on very different platform technologies, WHO is looking at vaccines are they are being authorised by highly competent national regulatory authorities and that are available in sufficient supply to address the needs of many countries.

WHO has no preferred product, and the variety of products, including their specific attributes and handling requirements, allow for countries to find the products that are most suitable for their circumstances.

WHO’s SAGE is expected to review other vaccines in the coming months.

KPMG Names Wema Bank Amongst The Leaders In Digital Payments And Customer Experience In 2020

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Wema Bank Nigeria Plc ranked top in two recent independent surveys on the Banking industry. In its 2020 Digital Channel scorecard, KPMG Nigeria named the bank as a leader in Payments and Transactions for digital banking.

Also, in its recently released Banking Industry Customer Experience Survey, the consulting firm confirmed that Wema Bank climbed ten places to 2nd position in the Retail category.

The 2020 Customer Experience Leaders

KPMG Names Wema Bank Amongst The Leaders In Digital Payments And Customer Experience In 2020 Brandspurng
2020 Nigeria Banking Industry Customer Experience Survey | www.brandspurng.com

Following a qualitative study of 17 Nigerian commercial banks focusing strongly on retail banking operations, KPMG Nigeria’s Digital scorecard tested customer experience across five areas – Digital Onboarding, Digital Payments & Transfers, Digital Lending, Self Service and Customer Care.

It categorized banks into four distinct categories; Leaders, Challengers, Followers and Late Starters. Wema Bank emerged a leader in the Mobile & Internet banking (payments/transfers) and the Self-Service categories.

Wema Bank Boss, Ademola Adebise, Allegedly Use Customer’s Account to Launder over N1 Billion Brandsspurng
Wema Bank MD/CEO, Ademola Adebise | www.brandspurng.com

The assessment also revealed ALAT By Wema, the bank’s digital banking platform, as the best digital banking channel in Nigeria. According to the report, ALAT By Wema stands out because “the user interface is simple, and only relevant information is visible on the screen, thus keeping design minimal, user friendly, and removing the possibilities for user errors or confusion”.

The digital banking platform has not only provided the latest banking technology, it fits perfectly into the lifestyle of Nigerians; making life easier for everyone.

In the recently published 2020 KPMG Customer Experience Survey, Wema Bank showed significant growth in the retail category, climbing up ten (10) places from the previous year to 2nd position, with an above industry average of 74.6% CX score.

List of Wema Bank Sort Codes in Nigeria

The survey cut across six universal pillars of Personalization, Integrity, Expectations, Resolution, Time & Effort and Empathy. The leading banks showed a mastery of these pillars and are outstanding at all of them. Wema Bank’s achievement in this category is a mark of its dedication to excellent customer service and refreshing support for all its customers.

Separately, the bank received an award for the Best SME Bank of the Year for 2020 from BusinessDay. The award recognizes Wema Bank’s continuous support for small and medium scale businesses through loans, business advisory, and ease of payments and transactions.

Having redefined the banking space with ALAT, Wema Bank boasts of a capacity to onboard customers digitally end-to-end without the need to visit branches or agents. The bank continues to deliver innovative products to enrich payment and transfer offerings by creating a perfect blend of speed and functionality.

Download 2020 KPMG Digital Channel Scorecard Here

Download 2020 Nigeria Banking Industry Customer Experience Survey Here

NSE Inaugurates Claims Review Panel

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In preparation for its imminent demutualisation, the Nigerian Stock Exchange (NSE) inaugurated its Claims Review Panel on 21 December 2020, pursuant to the provisions of the Demutualisation of The Nigerian Stock Exchange Act 2018 (the “Act”).

The Panel serves as an independent alternative dispute resolution mechanism for the review and determination of Claims made by individuals or entities in respect of any assertion of rights in the shares of the demutualised Exchange i.e. Nigerian Exchange Group Plc (“HoldCo”).

NSE ASI hit its highest single-day upside in 7 years at 4.92%
Oscar N. Onyema OON, Chief Executive Officer of the Nigerian Stock Exchange | www.brandspurng.com

The Panel will sit in an appellate capacity and review Claims from Claimants’ who are dissatisfied with any decision of the National Council of The Exchange on a Claim pre-demutualization, or the Board of Directors of the HoldCo, post demutualisation of The Exchange.

As part of the demutualisation process, The Exchange (which is currently a company limited by guarantee) would be converted into and re-registered as a public company limited by shares.

Consequently, current Members of The Exchange will be allocated shares in the HoldCo. The securities exchange license of the current Exchange would be transferred to Nigerian Exchange Limited, a wholly-owned subsidiary of the HoldCo, which would carry on the securities exchange business.

Another wholly-owned subsidiary, NGX Regulation Limited, would be licensed by the Securities and Exchange Commission (SEC), to carry out regulatory services.

To safeguard the independence of the Panel, and following a diligent search for distinguished individuals with the required expertise and extensive track records of integrity, excellence, and achievements in their respective fields of specialisation, The Exchange is pleased to announce the appointment of the following members of the Panel:

  • Mr. George Etomi (Chairman)
  • Mr. Seni Adio, SAN
  • Mr. Abatcha Bulama
  • Dr. Paul Anababa, SAN
  • Prince Aghatise Erediauwa

​At the Panel’s inauguration on 21 December 2020, Otunba Abimbola Ogunbanjo, President, The Nigerian Stock Exchange, said:

“he expected members of the Panel to discharge their responsibilities without any fear or favour in an objective and dispassionate manner, being guided by principles of fair hearing, equity and natural justice”.

He expressed optimism that the Panel would diligently carry out its functions and responsibilities under the Act and that each member would bring to bear their respective experience and expertise to enrich deliberations and decisions.

United Bank for Africa’s DMD Acquires Shares worth ₦27.37 million

United Bank for Africa Plc (UBA) has notified the Nigerian Stock Exchange that its Deputy Managing Director, Ayoku Liadi, has acquired 3,220,000 units of United Bank for Africa Plc’s shares, worth ₦27,370,000.00 on Wednesday, January 6, 2021.

The disclosure was made by the Group’s Secretary, Bili A. Odum in line with the Nigerian Stock Exchange policy on insider dealing.

United Bank for Africa's DMD Acquires Shares worth ₦27.37 million Brandspurng
UBA’s Deputy Managing Director, Ayoku Liadi,

The purchase was made in five transactions on the floor of the Nigerian Stock Exchange, at an average price of N8.50. This brings the total consideration for the 253,982 shares purchased by Ayoku Liadi is put at ₦27,370,000.00.

Transaction Breakdown:

  • 817,231 shares at N8.60
  • 1,294,498 shares at N8.50
  • 185,052 shares at N8.55
  • 900,974 shares at N8.40
  • 22,245 shares at N8.45

Brief Profile of Deputy Managing Director, Ayoku Liadi

Appointed Executive Director in 2016, Ayoku Liadi holds a B.Sc in Business Management from the University of Nigeria, Nsukka. Ayoku is also a Chartered Accountant and member of the Institute of Chartered Accountants of Nigeria (ICAN).

Prior to joining UBA Plc in 2014, he had over two decades of banking experience in Business Transformation, Relationship Management, Banking Operations, Risk Management, and Financial Control.

He was the Managing Director, Guaranty Trust Bank, Sierra Leone Limited where he led the bank to win the most profitable bank in Sierra Leone in 2013, as well as Financial Institution of the year in 2013, and The Most Customer-Focused Bank Award in 2012 by KPMG. He also had a stint at Zenith Bank and rose to the position of Deputy General Manager in 2006.

He has attended various local and offshore courses in Banking, Strategy, and Leadership, among others.

Brent Crude Crossed Above $54 Per Barrel…

Trading activities slowed down today in the FGN bonds space and also did the bullish train run as the 2049s paper strengthened by approximately 60bps during the week. The early hours of trading opened the day with minimal activities, especially on the 2026s and 2027s papers, which ended up trading within the range of 6.40%-6.50%.

Offers were initially scarce on the 2049s papers causing some desperate bulls to pick it at the sub 8% level; however, by mid-day, we saw more offers come on screen for the 2049s paper and ended weakening by approximately 8bp, closing the day around 8.07% levels on the offers.

Brent Crude Crossed Above $54 Per Barrel Brandspurng

All the offers seen for bonds at the belly of the curve stayed below the 8% levels throughout the session.

We expect the market to continue to weaken as participants refocus their attention towards the different expected surprises the DMO may throw through their much-anticipated 1st quarter auction calendar. 

Treasury Bills

Despite the high system liquidity in the interbank market, the demand for bills Treasury bills weakened. In contrast, the market stayed offered mainly for short and mid dated bills within 0.10% and 0.60%, but there were no available bids to match despite desperate scouting of these range of bills yesterday.

On the other hand, long-dated bills saw few bids at early hours at around 2.30% levels with no matching offers to seal trade. However, we saw a few offers by close of business at 1.50%, although the bulls were not desperate to pick these offers.

We expect the market to pick slightly tomorrow as interest shifts to the nearly issued OMO bills in the market. 

Money Markets

System liquidity stood over N1trillon for a third consecutive session as more inflows from OMO maturities drop into the interbank market. Consequently, we saw OBB and OVN rates remained low, closing the day at 0.38% and 0.75%.

We expect the rate to increase slightly tomorrow following a possible CRR debit for the Apex bank and bi-weekly Retail intervention auction that is set to hold. 

FX Market

The I&E Window traded on a less active note today than yesterday, with traded volumes down 38% ($32.41mio traded) D/D. Rates traded on a tighter band of N7.34k (50k tighter D/D), the closing rate appreciated by N0.83k to close at N393.67/$1. Other market segments remained unchanged on the day.

With CBN expected to inject some liquidity via its bi-weekly Retail FX auction set for tomorrow, we don’t expect any significant movement in rates across the board to close out the week. 

Eurobonds

It was a pretty calm session for SSA Eurobonds despite general strong sentiments persisting for the sovereign papers. The NIGERIA Sovereign curve is strengthened again by another c.4bps as oil prices continue to appreciate in the international space as Brent crude cross above $54, highest seen since Feb 2020.

The NIGERIA Corporates had a relatively quiet session as well, albeit we noted the highest gains on the ZENITH 2022s (+96bps) closing as the star of the trading session.