Olam Coffee develops novel superfruit products from upcycled coffee cherry cascara

Olam Coffee, part of Olam Food Ingredients (OFI), has developed a range of coffee cherry cascara products as a key ingredient for beverage infusions and concentrates across multiple applications, from ice teas to nutrition bars, to meet the growing trend for healthy indulgence.

Cascara – translated from Spanish as ‘husk’ – is the pulp and skin of the coffee cherry fruit. Its flavour is very different from coffee, often described as sweet and fruity with notes of cherry, raisins, and even caramel.

Coffee farmers have used it for years to make tea infusions, but it is typically regarded as an unusable by-product by the coffee industry and composted for use as crop fertiliser, or discarded altogether.

liquid-cascara-process Brandspurng Olam Coffee develops novel superfruit products from upcycled coffee cherry cascara
Laboratory scale vacuum concentration of cascara extract and
Sample of a cascara tea infusion | www.brandspurng.com

Today, there is a growing awareness of cascara as a sustainable superfood due to its unique flavour and perceived health benefits, with several times the antioxidants of blueberries, acai, pomegranate and other known superfruits.

In addition, bioactive food compounds such as polyphenols and chlorogenic acid, which are present in coffee cherry cascara, have promising potential to help patients with obesity. The caffeine content can also be considerably lower than coffee.

Olam Coffee develops novel superfruit products from upcycled coffee cherry cascara Brandspurng
Wet cascara on a drying bed inside a greenhouse | www.brandspurng,com

“There is also the environmental benefit of utilising the skin and pulp that’s otherwise discarded as a bi-product in the primary processing stage,” said Siva Subramanian, Vice President of Innovation at Olam Coffee.

“And as demand for this superfruit grows, upcycling cascara will provide more coffee farmers with an additional source of income.”

Olam Coffee currently sources cascara from its single estate coffee plantations in Brazil, Laos, Tanzania and Zambia, with integrated processing capabilities, which provide a year-round certified3 supply of quality cascara that’s traceable back to the specific block.

Their teams have carried out multiple trials of ‘husk’ and ‘pulped’ cascara production, experimenting with coffee varieties, cherry ripeness and harvesting and processing techniques to define suitability for specific food ingredient applications, such as teas or natural confectionary flavourings.

There are two main processing methods which produce different flavour profiles. During the wet processing method, the fruit pulp is collected and dried slowly on raised beds in a controlled environment. The resulting ‘pulped’ cascara, has a sweeter, fruitier flavour and deeper colour than the ‘husk’ variety – produced using the dry or natural method – and lends itself well to fruit concentrate applications and extracts.

Olam Coffee can offer a range of cascara products, namely dry cascara for tea infusions and flour; liquid cascara concentrates for jams, jellies, dessert toppings and bakery fillings; and soluble cascara powder for use in hot and cold RTD beverages and mixes. It will also be available for nutraceutical and cosmetic use as an as antioxidant supplement. Olam Coffee will work with companies and brands directly to co-create bespoke cascara products.

At their Innovation Center in Fresno, California, Olam continues to develop new cascara offerings derived from various processing conditions, in partnership with external laboratories and customers to meet their specifications.

Food safety continues to be a primary focus and Olam Coffee is working with local partners and agencies to secure wide-spread use of cascara for integration in multiple applications on the market.

#LetsGo5050: KFC teams up with local designers to mark 50-year milestone (Photos)

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2021 will mark 50 years since the KFC brand was introduced to South Africa. As part of the celebration of its 50-year milestone and #LetsGo5050 campaign, KFC South Africa has collaborated with local creatives on limited-edition branded products.

KFC teams up with local designers to mark 50-year milestone (Photos) Brandspurng

Tapping into SA’s unique culture and pool of local talent, the fried chicken brand worked with talented local illustrator Russell Abrahams (known as Yay Abe) to design a collection of limited-edition Birthday Buckets, while the collaboration with local fashion brand Thesis Lifestyle has produced a collection of KFC-inspired streetwear.

KFC teams up with local designers to mark 50-year milestone (Photos) Brandspurng

Inspired by KFC’s heritage and the culture of Mzansi, Yay Abe added his bold, bright and playful illustration style to the iconic KFC buckets to create a range of colourful collectable buckets.

KFC x Yay Abe

There are three collectable Birthday Buckets in the KFC x Yay Abe range. The Heritage Bucket (9 pieces) is dedicated to the people of KFC: from the founder Colonel Saunders to the KFC employees and fans of the brand.

KFC teams up with local designers to mark 50-year milestone (Photos) Brandspurng

The ‘Goodness Bucket’ (15 piece) depicts everything fans love about KFC, from “finger-lickin’ good” meals and the secret recipe, to the 11-year-old Add Hope Programme that has delivered food supplies to 141 beneficiaries nationwide, with over 150,000 children reached. The ‘Sharing Bucket’ (21 piece) embodies the special cultural norm of family and friends gathering around a table to enjoy a great meal and good company together.

KFC teams up with local designers to mark 50-year milestone (Photos) Brandspurng

“My intention was to celebrate and illustrate the combined heritage and growth of both KFC and South Africa over the past 50 years while also bringing to life that good feeling of people coming together to share good times and great meals. When people share a meal around these buckets in December, I want them to feel what I felt when I was creating them: hope, joy and pride in South Africa,” said Abrahams.

KFC teams up with local designers to mark 50-year milestone (Photos) Brandspurng

Thesis x KFC Collection

KFC teams up with local designers to mark 50-year milestone (Photos) Brandspurng

KFC also went 50/50 with local fashion brand Thesis Lifestyle to create a limited-edition collection of KFC-inspired streetwear. With a finger on the pulse of the street culture and style, the founder of the Soweto-based brand, Wandile Zondo and his partner Galebowe Mahlatsi, create streetwear that they hope will inspire the next generation to define themselves.

The Thesis x KFC Collection includes an exclusive run of bespoke t-shirts, vests, tote bags and bucket hats. These were designed to reflect what they believe KFC founder, Colonel Sanders, would be proud to see and experience if he were to visit the streets of Mzansi today.

“Bringing together the original style of streetwear in Soweto, with the original flavour and flare of KFC, we want this range to tell a story that salutes the South African people of KFC, from their thousands of employees to their millions of fans. The thesis is more than just a brand, it’s a lifestyle, and the same is true about KFC; it is a part of our culture,” said Zondo.

The Thesis x KFC collection is now on sale at the Thesis store and online shop, with only 100 of each item available. Fifty percent of all sales will be going towards the Add Hope programme.

As part of its #LetsGo5050 campaign, KFC is also offering customers 50% off selected products every day from 1 to 20 December 2020.

2021 Budget: Taraba State to Spend N139B

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The Taraba State government is to spend over 139 Billion Naira for both its recurrent and capital expenditure in the 2021 fiscal session.

A breakdown of the budget indicated that the government will spend a total of Eighty-two Billion, Nine Hundred and Ten Million, Forty-Eight Thousand, Six Hundred and Fifty Naira, Ninety Kobo (N82,910,048,650.90), being 59.4% of the proposed budget on recurrent expenditure, while capital estimate stood at Fifty Six Billion, Five Hundred and Fifty Million, Three Hundred and Eighty-Seven Thousand, Three Hundred and Ten Naira, Ninety Kobo (N56,550387310.90).

2021 Budget: Taraba State to Spend N139B

Taraba state governor, Arc. Darius Dickson Ishaku, while presenting the budget before the state House of Assembly in Jalingo at the weekend said the budget was a departure from the normal classification of seventeen programmes to only four major sectors.

According to him, the concentration on just four sectors was a deliberate plan by the government not only to focus attention on these core areas of development, but it was also informed by the desire to conform with the International Public Sector Accounting Standard (IPSAS).

Giving an insight into what to expect in the coming year, the governor said under recurrent, personnel cost will consume Thirty-Four Billion, Three Hundred and Seven Million, Six Hundred and Seventy-Nine Thousand, Eight Hundred and Forty-Nine Naira (N34,307,679,849.00).

Others included the overhead cost of Twenty Eight Billion, Two Hundred and Twenty Nine Million, Three Hundred and Eighteen Thousand, Five Hundred and Ten Naira Ninety Kobo (N28,229,318,510.90) and Consolidated Revenue Charges of Twenty Billion, Three Hundred and Seventy-Three Million, Fifty Thousand, Two Hundred and Ninety One Naira only.

On the capital estimate side, the thrust of the budget would concentrate on the economy, social, regional and administration.

He further said that his administration will spend Thirty Billion, Sixty Five Million, Nine Hundred and Eighty-Eight Naira, Eighty Kobo (N30,065,956,888.80) being 21.56% on the economic sector, while the social sector will gulp Fourteen Billion, Nine Hundred and Forty-Six Million, Three Hundred and Thirty Thousand, Two Hundred and Fifty-One Naira, Thirty Kobo (N14,946,330,251.30) standing at 10.72%.

According to the governor, administration and regional costs will also take Five Billion, Six Hundred and Fifty-Three Million, Eight Hundred and Ninety-Six Thousand, Eight Hundred and Three Naira, Ten Kobo (5,653,896,803.10) 4.05% and Five Billion, Eight Hundred and Eighty-Four Million, Two Hundred and Three Thousand, Three Hundred and Sixty Seven Naira, Seventy Kobo (N5,884,203,367.70) being 4.22% respectively.

As part of the strategies to ensure proper implementation of the budget, the governor said all Ministries, Departments and Agencies must maintain discipline in the execution of their approved estimates, enhance review and monitoring of the physical performance of all capital projects, patronage of the government printing press and the creation of the state economic council.

One in 10 employees enjoy working from home in the nude

Speaking of the opportunities opened up by working from home in South Africa, 15% of respondents said they liked working without clothes

December 8, 2020,/ — People working from home during the pandemic have discovered some guilty pleasures that they would now like to keep, according to new global research commissioned by Kaspersky which studied the behaviours of 8,000 SMB workers. Speaking of the opportunities opened up by working from home in South Africa, 15% of respondents said they liked working without clothes. Other novelties favoured by employees in South Africa region include weekday lie-ins (42%), binge-watching Netflix (33%) and working outside in the garden or on a balcony (32%).

One in 10 employees enjoy working from home in the nude Brandspurng
(Source: Kaspersky

As our working environment during the global pandemic shifted from secure offices to kitchen tables, we met many difficulties balancing work and private lives. According to the World Economic Forum, employees working remotely this year faced mental health and wellbeing challenges, such as childcare pressures and digital connectivity. Nevertheless, some office staff who switched to working remotely savoured this experience and discovered some guilty pleasures they now want to retain.

Aside from working in the nude, which is still far from mainstream, the majority of respondents benefitted from simply working in comfortable clothes: 66% got used to this lifestyle and would like to make it the norm in the future. Saying goodbye to long commutes also made employees happier as they could wake up five minutes before work started, while many also enjoyed taking a nap during the day (42%).

Continuing to discover the perks of the new normal, 32% of people enjoy working outside in the garden or on a balcony, and 33% even manage to binge-watch Netflix at work. Other treats favoured by employees include more time for video games (15%), takeaway lunches (18%) and showering less (10%).

However, this newfound open-mindedness not only leads to profits but also to a certain level of responsibility when it comes to digital security. Having reliable security solutions across our devices will be crucial in order to protect our individual privacy as we enjoy new ways of unwinding.

Marina Titova, Head of Consumer Product Marketing at Kaspersky, said:

“This lockdown turned out to be a two-way street for people whose job allows them to work from home. On the one hand, employees finally got a chance to forget about the downsides of big-city life and start working in a more comfortable atmosphere. On the other hand, they faced many challenges when struggling to remain productive, reorganizing their workspace and developing new habits. When you work from home your privacy is put at greater risk, making it vital that you remember to take care of your digital security.”

To make sure your devices remain secure across both work and personal use, Kaspersky suggests following these recommendations:

  • Do not share personal information or permit access to your accounts with third parties unless it is completely necessary. This will minimize the chances of it being found on the internet.
  • Whether you prefer working naked or just value your privacy regardless, apply a webcam cover or use built-in webcam protection in Kaspersky Security Cloud which will prevent unauthorized access to your camera. This complete security solution makes your privacy, data and financial assets secured with a comprehensive set of tools, including a VPN, payment protection, password protection, PC cleaning, home Wi-Fi monitoring and parental control.
  • Start using Privacy Checker to configure your social media profiles according to the level of privacy you prefer. This will make it harder for third parties to find highly sensitive personal information without your intent.
  • Secure your Wi-Fi. As most routers have a default username and password, your router default credentials could be easily found on the internet. We recommend setting a new password and update the router’s firmware.
  • Use a reliable security solution like Kaspersky Password Manager to generate and secure unique passwords for every account, and resist the temptation to reuse the same one repeatedly.

The full report, ‘Securing the Future of Work’, can be found here

Nigeria: Saving Interest rates?

Saving Interest rates?

Last week the Central Bank of Nigeria (CBN) decided that it would substantially adjust its Cash Reserve Ratio (CRR) regime.

Under the CRR commercial banks must leave 27.5% (but in practice, much more) of their customer deposits with the CBN with zero interest: but last week they were informed that the CBN would issue them with ‘Special Bills’ in respect of some or all of their CRR positions. The interest rates on these bills are yet to be announced.

At one level this is pure banking supervision. Sums debited for the CRR do not count towards liquidity calculations, with the result that a high level of CRR means that some banks struggle with the CBN’s 30.0% liquidity requirement. So, the change in the CRR regime is designed to help them from a regulatory perspective.

Nigeria Saving Interest rates Brandspurng3
CBN Governor, Godwin Emefiele | www.brandspurng.com

The CRR regime also causes practical issues. Take the example of a bank which receives a large sum of cash from a pension fund in respect of redeemed securities. Part of that cash is now removed for the CRR, but if the pension fund now asks for all its money back (e.g.to fund new purchases), the bank may be short of cash.

Banks have become adept at creating liquidity when it is lacking. They may now use the new Special Bills as collateral to raise cash.

Nigeria Saving Interest rates Brandspurng
Source: FMDQ, Bloomberg, Aboki FX, Coronation Research

However, the effects of last week’s move probably go, beyond managing bank liquidity. For over a year the CBN has overseen a dramatic fall in market interest rates so that Treasury bills now yield 0.15% pa, versus inflation at 14.23% pa (see last week’s Nigeria Weekly Update: Where is the money going?).

Nigeria’s inflation-adjusted risk-free one-year rates are among the lowest in the world. There is a danger that, with a high level of the CBN’s open market operation (OMO) bills to be redeemed this month, T-bill rates could move into negative territory.

In our view, the CBN, having allowed the flow of OMO redemptions to crash T-bill and bond rates this year, may want to stop short of negative rates. Setting a rate on these new Special Bills gives it a tool for adjusting market interest rates. We must wait to find out what rates it wants to see.

Last week there were some upwards moves in FGN bond yields, suggesting that some market participants expect the CBN to set a floor under short-term rates.

The CBN also allowed, last week, unrestricted access to US dollars in domiciliary (i.e. onshore) accounts where these have been paid in electronically. The result was that customers could remove their US dollars and buy Naira. The Naira duly strengthened in the parallel market.

Nobody knows how large or liquid the parallel market is, but it probably comforted the CBN that it could influence the rate so effectively. Nevertheless, we do not think that this is the end of the parallel market.

Last week the equity market continued its advance, with large gains by Airtel Africa, up 19.63% on the week, among the largest weights in the Nigerian Stock Exchange All-Share Index (NSE-ASI). By contrast, Nigerian Breweries fell by 7.05% and it accounts for 2.40% of the NSE-ASI.

We hold a notional neutral weight in Airtel Africa and no notional position in Nigerian Breweries. Therefore, we could reasonably hope for some outperformance, so long as the profit-taking in the banking sector was not too big. The sub-index of 10 bank stocks was down 3.22% on the week.

Last week the Model Equity Portfolio rose by 1.11% compared with a rise in the Nigerian Stock Exchange All-Share Index (NSE-ASI) of 0.72%, therefore outperforming it by 72 basis points. Year-to-date it has gained 36.46% against a gain of 30.91% in the NSE-ASI, outperforming it by 556bps.

Model Equity Portfolio for the week ending 04 December 2020

Nigeria Saving Interest rates Brandspurng
Source: Coronation Research

We have written recently about Flour Mills of Nigeria and about Dangote Sugar, and whether we should take notional positions in them. Both these stocks fell last week, and we sense that there is no hurry to make up our minds. We plan no changes in the Model Equity Portfolio this week.

Philip Morris International Announces FDA Authorization of IQOS 3 for Sale

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The U.S. Food and Drug Administration (FDA) today confirmed that IQOS 3, Philip Morris International’s electrically heated tobacco system, is appropriate for the protection of public health and has authorized it for sale in the United States.

FDA’s decision follows an assessment of a premarket tobacco product application (PMTA) filed with the agency in March 2020.

Philip Morris International Announces FDA Authorization of IQOS 3 for Sale Brandspurng
IQOS 3 Device (Photo: Business Wire)

The IQOS 3 device contains a number of technological advancements, compared to a previously authorized IQOS device, including longer battery life and quicker recharge between uses.

In its decision, the FDA noted that:

  • International survey data reviewed by the agency found no evidence of increased uptake of IQOS by youth or young adults, while use patterns available for a previously authorized version of IQOS within the U.S. have not raised new concerns regarding product use in youth and young adults.

Altria_Philip Morris International Announces FDA Authorization of IQOS 3 for Sale Brandspurng

Commenting on the FDA’s announcement, André Calantzopoulos, PMI’s Chief Executive Officer, said:

“The agency’s decision to authorize IQOS 3 for sale in the U.S. is another important step forward for the tens of millions of American men and women who currently smoke. In just five years, approximately 11.7 million people around the world have stopped smoking and switched to IQOS, and we believe bringing a more modern version of IQOS to the U.S. will only accelerate switching by adults who smoke.”

He added, “The order is subject to the same comprehensive commercialization requirements set in the April 2019 PMTA marketing orders for IQOS 2.4, which aim to maximize the opportunity for adults to switch from cigarettes while minimizing unintended use. We, along with our licensee Altria, are committed to guarding against unintended use and fully support FDA’s focus on protecting youth.”

On July 7, 2020, the FDA authorized IQOS 2.4 as a modified risk tobacco product (MRTP), finding that an IQOS exposure modification order is appropriate to promote the public health.

The IQOS 3 PMTA authorization is independent of the MRTP authorization for the IQOS 2.4 device. PMI expects to file an application seeking a modified exposure marketing order for the IQOS 3 device.

On April 30, 2019, the FDA authorized IQOS 2.4 for sale in the U.S. through the issuance of premarket tobacco authorization marketing orders.

IQOS is available in the U.S. market through an exclusive license with Altria Group, Inc.

Philip Morris International (PMI) is leading a transformation in the tobacco industry to create a smoke-free future and ultimately replace cigarettes with smoke-free products to the benefit of adults who would otherwise continue to smoke, society, the company, and its shareholders.

PMI is a leading international tobacco company engaged in the manufacture and sale of cigarettes, as well as smoke-free products and associated electronic devices and accessories, and other nicotine-containing products in markets outside the U.S.

In addition, PMI ships a version of its IQOS Platform 1 device and its consumables to Altria Group, Inc. for sale under license in the U.S., where the U.S. Food and Drug Administration (FDA) has authorized their marketing as a modified risk tobacco product (MRTP), finding that an exposure modification order for these products is appropriate to promote the public health.

Airtel Celebrates the Yuletide Season with Exciting Discount on Devices

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As part of its plans to give back and re-ignite the sparkle of the Yuletide Season, leading telecommunications services provider, Airtel Nigeria, has rolled out new exciting offers on its Home Broadband (HBB) devices, including MiFIs, Routers and the ODU Smartbox.

The Home Broadband Routers, which were priced at N25,00 with complimentary 160GB are now available at N19, 999 only, while MiFIs previously sold at N12, 000 with complimentary 55GB are now priced at N9, 999 only and the ODU Smartbox has been slashed to N65,000 + free installation with up to 300GB complementary data from the original price of N70,000.

The offer, which will last through the Yuletide season is aimed at giving Airtel customers the opportunity to achieve more with fast and reliable internet connectivity during Yuletide.

Airtel Home Broadband devices are designed to give customers continuous access to data, whilst riding on its robust 4G network especially with the recent introduction of the UNLIMITED ULTRA PLANS which was designed to meet the growing demand for quality Home Broadband experience with consideration for those working from home, schooling remotely and enjoying home entertainment.

“Airtel is committed to creating unique and innovative offers that make life simpler and easier with the ultimate aim of giving more joy all its customers. We are confident that this fascinating Yuletide Offer will be a veritable platform for families to bond and exchange the perfect gifts this season”, said Godfrey Efeurhobo, Airtel’s Director of Home Broadband.

Airtel Home Broadband Yuletide Offer is available at all Airtel Stores and Partner Outlets Nation Wide.

To subscribe to the HBB Plans, customers are required to visit airtel.com.ng/HBB or dial *370# from an Airtel line. The plans can also be purchased via the Airtel App, and at all Airtel retail outlets.

AMAC names Abuja street after Ekeh, Zinox boss, as Igbo Business leaders honor Him

Serial digital entrepreneur and Chairman, Zinox Group, Leo Stan Ekeh, has been honoured with two distinguished recognitions in the Federal Capital Territory, Abuja and Enugu, both coming within the same period.

The Zinox boss was recently honoured by the Abuja Municipal Area Council (AMAC) which named a major street after him.

Leo Stan Ekeh Way Brandspurng AMAC names Abuja street after Ekeh, Zinox boss, as Igbo Business leaders honor Him
Leo Stan Ekeh Way | www.brandspurng.com

Specifically, the street was christened Leo Stan Ekeh Way.

The street houses one of the biggest markets in Abuja, schools and other establishments. Ekeh, who had the aptly identified –  Leo Stan Ekeh Way –  named in his honour, was recognised for his digital industry, creation of direct and indirect employment opportunities for millions of Nigerians, his investment in ICT and digital infrastructure and as a responsible corporate citizen.

AMAC names Abuja street after Ekeh, Zinox boss, as Igbo Business leaders honor Him

In addition, authorities at AMAC disclose that the Leo Stan Ekeh Way is fitting justification for the landmark strides and enduring legacies of Ekeh, who has remained one of the foremost drivers of digital democracy in Nigeria and beyond.

Also, on Saturday, December 5, 2020, Ekeh was honoured and inducted into the inaugural Igbo Business Leaders Hall of Fame. The event, which was hosted by Champions Court, was held at the Nike Lake Resort, Abakpa-Nike, Enugu.

The auspicious event had former President Goodluck Jonathan as the Chairman.

Other awardees include notable entrepreneurs and industrialists of Igbo extraction such as Ibeto Motors boss, Dr. Cletus Ibeto; Prince Arthur Eze; Founder, Innoson Motors, Dr. Innocent Ifediaso Chukwuma; Dr. Stella Chinyelu Okoli; Coscharis boss, Dr. Cosmas Maduka; Founder, Mass Peace Transit, Dr. Samuel Maduka Onyishi; Chief Allen Onyema of Air Peace and Senator Ifeanyi Ubah.

In his citation at the event, Ekeh was described as being responsible for putting Nigeria firmly on the digital map of Africa and the world.

Market Outlook on The Special OMO Bills Tepid Market Appetite for Fixed Income Securities.

Market appetite for bonds dropped further compared to Friday as most market participant continues to anticipate the special OMO credit as advised by the Apex bank, which is expected to set a new direction in the fixed market as a whole.

Trading activities dragged for most of the trading hours as dealers preferred to stay on side-lines observing market movement and reactions in line with the outcome of these CRR OMO credits that are expected to hit the system.

Market Outlook on The Special OMO Bills Tepid Market Appetite for Fixed Income Securities Brandspurng

The bears were mainly slated at the belly of the curve especially on the 2036s and 2037s papers which was offered around the mid 5% levels while bids stood c.150bps apart for these quoted papers. The 2049s and 2050s papers were offered at 6.90% levels albeit no-bid to match these offers.

We expect this uncertainty to persist until the much-anticipated bill is credited into the system, Albeit the market ATM poses a good buy opportunity for local investors who are seeking to invest their loose funds.

Treasury Bills

The Treasury Bills traded one-way today all bears no bulls although largely concentrated mid-long dated papers. March and June bills were offered at 0.30% levels while Oct-Nov bills were offered at 0.50% levels. At the early hours of trading, we saw few aggressive bids in small volumes at the 1.20% level for the march bills but snoozed off quickly.

We expect the market to stay calm in the interim although supply will mostly increase across the curve.

Money Markets

Money market rates dropped by c.240bps in today’s session compared to Friday’s level, supported by the low immediate funding pressure in the market. System liquidity opened the session at N258.07Bn (c.64% lower D/D), while the OBB and OVN rates closed at 1.42% and 1.67% respectively.

We expect rates to remain stable in the interim, as there are no major outflows expected to hit the market in the course of the week.

FX Market

The IEFX window continues to receive steady flows from the Apex bank although still poorly supplied compared to demand as rates ranged between N395/$1-N396/$1. The Cash/Transfer window also saw slight relief compared to Friday appreciating by an average of N2.5k to close the day at N471/$1 and N487/$1 respectively.

We expect that the continuous intervention from the Apex bank in the IEFX window would most likely induce the appreciation of Naira in the parallel market in the short-term.

Eurobonds

Although the demand for Sub-Saharan papers remains high especially for NIGERIA Sovereigns, we saw less aggressive bids compared to Friday as buying pressure slowed down across the curve. Most of the market juice stayed at the belly and the tail of the curve where yield chasing investors seem to focus most of their attention. Despite the market appetite, we saw yield expanded slightly across the curve at around +9bps.

The NIGERIA Corporates had a less active session, although we noted few market interests on FBNL 2025s and ETINL 2024s papers as the improved pocket demand on these papers was matched by the supply seen.

New Jaguar F-Pace SVR: Performance SUV is Faster, more Luxurious and more Refined than ever

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Sitting at the pinnacle of the Jaguar performance SUV range, the new F-PACE SVR is faster than ever and features motorsport-inspired exterior design, a luxurious interior and the latest connected technologies

  • Introducing new F-PACE SVR: New pinnacle of the performance SUV range is quicker off the line and even more agile, features the latest dynamic exterior design and a more luxurious and refined interior finish

New Jaguar F-Pace SVR: Performance SUV is Faster, more Luxurious and more Refined than ever

  • Pinnacle of performance: Jaguar’s 550PS 5.0-litre V8 Supercharged petrol engine features a revised torque curve that raises peak output to 700Nm and powers F-PACE SVR to a higher 178mph top speed, with lower emissions and improved fuel efficiency
  • Quick off the mark: Heightened torque output and new Dynamic Launch function cut
    0-60mph time by three-tenths of a second to just 3.8 seconds (0-100km/h in 4.0 seconds)

New Jaguar F-Pace SVR: Performance SUV is Faster, more Luxurious and more Refined than ever New Jaguar F-Pace SVR: Performance SUV is Faster, more Luxurious and more Refined than ever

  • Enhanced dynamics: New steering rack with SV calibration and retuned dampers deliver a more connected driving experience with enhanced ride refinement
  • Uprated braking: Improved cooling and pads deliver enhanced brake performance, while new Integrated Power Booster and re-tuned pedal feel provide added driver confidence
  • Race-inspired exterior: New front bodywork influenced by SV’s significant motorsport experience reduces lift by 35 per cent, lowers drag and amplifies F-PACE’s assertive stance

New Jaguar F-Pace SVR: Performance SUV is Faster, more Luxurious and more Refined than ever New Jaguar F-Pace SVR: Performance SUV is Faster, more Luxurious and more Refined than ever

  • Luxurious sports interior: All-new crafted interior features selection of exclusive performance-focused materials for a luxurious and sporting cabin environment
  • Always connected: Technologies include Jaguar’s latest Pivi Pro dual-sim infotainment accessed through an all-new 11.4-inch HD curved glass touchscreen
  • Always up-to-date: Software-Over-The-Air capability ensures the latest vehicle systems and infotainment are installed seamlessly and remotely

New Jaguar F-Pace SVR: Performance SUV is Faster, more Luxurious and more Refined than ever

The original F-PACE SVR was incredibly characterful, well received by our customers and has gone on to become the highest-selling Jaguar SV product ever. The new version builds on this success, by making numerous detailed improvements that combine to raise the bar in the high-performance SUV segment. With a wide range of technological enhancements from our team of expert engineers and a comprehensively improved exterior and interior finish, the new F-PACE SVR is more focused, inspires more confidence and is even more captivating than ever before.

MICHAEL VAN DER SANDE
MANAGING DIRECTOR, JAGUAR SPECIAL VEHICLE OPERATIONS

New Jaguar F-Pace SVR: Performance SUV is Faster, more Luxurious and more Refined than ever New Jaguar F-Pace SVR: Performance SUV is Faster, more Luxurious and more Refined than ever

The new F-PACE SVR is available exclusively with Jaguar’s 550PS 5.0-litre V8 Supercharged petrol engine, now with 700Nm torque – an increase of 20Nm. This uplift in torque delivers enhanced performance, with the F-PACE SVR capable of 0-60mph in 3.8 seconds (0-100km/h in 4.0 seconds), three-tenths of a second faster than before, and a top speed of 178mph (286km/h), an increase of 2mph.

The powertrain now features the same torque converter used in the record-breaking Jaguar XE SV Project 8 sedan, to withstand the higher loads produced. As well as the improved torque and acceleration, CO2 emissions are also reduced from 281g/km to 275g/km with fuel economy now up to 23.1mpg (12.2l/100km)**.

Enabled by Jaguar’s advanced new Electronic Vehicle Architecture, dubbed EVA 2.0, the transmission and dynamics systems have also benefitted from incremental tweaks. The uprated Dynamic mode features unique tuning, delivering a focused and honed driving experience. Jaguar SV’s engineers have recalibrated the software to provide sharper throttle response, stiffen the suspension set up, optimise steering weighting and enhance the exhaust mapping.

A new Dynamic Launch feature also uses driveline inertia to maintain power to the wheels during gear changes, contributing to the SVR’s sharper acceleration from a standstill. At the same time, F-PACE SVR is now more comfortable and enjoyable to drive at a relaxed pace, without compromising its high-speed dynamics, further underlining the new model’s duality of purpose.